Institutional Manager · CIK 0001665751

BRILLIANCE ASSET MANAGEMENT LTD

ADMIRALTY, HONG KONG, K3 · File #028-17632

Latest AUM

$254.8M

Positions

Top-10 Concentration

100.0%

Filings

Portfolio Value Over Time

2024-03

2024-06

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
NEW	PDD HOLDINGS INC	PDD	+595,174	+$67.5M	$0
ADD	AMER SPORTS INC	AS	+1,748,796	+$65.3M	+$2.8M
EXITED	LI AUTO INC	50202M102	-1,781,895	-$45.2M	$0
REDUCE	ALPHABET INC	GOOG	-110,628	-$34.7M	+$13.4M
EXITED	NEW ORIENTAL ED & TECHNOLOGY	647581206	-244,534	-$13.0M	$0
NEW	TEXAS INSTRS INC	882508104	+36,128	+$6.3M	$0
ADD	ONTO INNOVATION INC	ONTO	+30,846	+$4.9M	+$6.3M
EXITED	NVIDIA CORPORATION	67066G104	-13,414	-$2.5M	$0
ADD	LEXINFINTECH HLDGS LTD	LX	+701,943	+$2.3M	-$6.0M

Sector Allocation

Consumer Discretionary

67.7%$172.4M

Technology

15.4%$39.4M

Financials

4.6%$11.8M

Filing History

Feb 12, 202613F HOLDINGS REPORTQ/E Dec 20256 pos · $254.8M
Nov 12, 202513F HOLDINGS REPORTQ/E Sep 20257 pos · $187.5M
Aug 11, 202513F HOLDINGS REPORTQ/E Jun 20257 pos · $153.6M
May 12, 202513F HOLDINGS REPORTQ/E Mar 20259 pos · $302.5M
Feb 12, 202513F HOLDINGS REPORTQ/E Dec 20247 pos · $443.9M
Nov 12, 202413F HOLDINGS REPORTQ/E Sep 20249 pos · $390.7M
Aug 13, 202413F HOLDINGS REPORTQ/E Jun 202415 pos · $398.1M
May 15, 202413F HOLDINGS REPORTQ/E Mar 202410 pos · $453.1M
Nov 14, 202313F HOLDINGS REPORTQ/E Dec 20238 pos · $396.4M

Top 6 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	AMER SPORTS INC	AS	2,809,105	$104.9M	41.18%
2	PDD HOLDINGS INC	PDD	595,174	$67.5M	26.49%
3	ONTO INNOVATION INC	ONTO	249,447	$39.4M	15.46%
4	ALPHABET INC	GOOG	79,462	$24.9M	9.79%
5	LEXINFINTECH HLDGS LTD	LX	3,601,592	$11.8M	4.62%
6	TEXAS INSTRS INC	882508104	36,128	$6.3M	2.46%