Institutional Manager · CIK 0001802695
Perseverance Asset Management International
GEORGE TOWN, E9 · File #028-20052
Latest AUM
$682.5M
Positions
19
Top-10 Concentration
94.8%
Filings
9
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 |
|---|---|---|---|---|---|
| ADD | PDD HOLDINGS INC | PDD | +445,015 | +$50.5M | -$10.9M |
| EXITED | AMER SPORTS INC | G0260P102 | -539,118 | -$18.7M | $0 |
| ADD | IQIYI INC | IQ | +6,710,000 | +$12.9M | -$57,600 |
| EXITED | CANADA GOOSE HLDGS INC | 135086106 | -220,000 | -$3.0M | $0 |
| NEW | AGORA INC | API | +700,000 | +$2.8M | $0 |
| NEW | YATSEN HLDG LTD | YSG | +529,993 | +$2.1M | $0 |
| ADD | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | +6,208 | +$1.9M | +$77,269 |
| EXITED | SUMMIT THERAPEUTICS INC | 86627T108 | -54,141 | -$1.1M | $0 |
| EXITED | ATRENEW INC | 00138L108 | -97,850 | -$450,110 | $0 |
| ADD | KE HLDGS INC | BEKE | +28,389 | +$447,411 | -$275,400 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202519 pos · $682.5M
- 13F HOLDINGS REPORTQ/E Sep 202523 pos · $582.0M
- 13F HOLDINGS REPORTQ/E Jun 202515 pos · $397.4M
- 13F HOLDINGS REPORTQ/E Mar 202534 pos · $765.5M
- 13F HOLDINGS REPORTQ/E Dec 202430 pos · $742.0M
- 13F HOLDINGS REPORTQ/E Sep 202429 pos · $867.8M
- 13F HOLDINGS REPORTQ/E Jun 202432 pos · $762.5M
- 13F HOLDINGS REPORTQ/E Mar 202435 pos · $553.8M
- 13F HOLDINGS REPORTQ/E Dec 202330 pos · $386.4M
Top 19 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | H WORLD GROUP LTD | HWLDF | 2,747,442 | $129.3M | 18.94% |
| 2 | PDD HOLDINGS INC | PDD | 1,027,372 | $116.5M | 17.07% |
| 3 | H WORLD GROUP LTD | HWLDF | 2,424,928 | $114.1M | 16.72% |
| 4 | PDD HOLDINGS INC | PDD | 934,720 | $106.0M | 15.53% |
| 5 | ALPHABET INC | GOOG | 300,000 | $94.1M | 13.79% |
| 6 | YUM CHINA HLDGS INC | YUMC | 713,999 | $34.1M | 4.99% |
| 7 | KE HLDGS INC | BEKE | 1,042,050 | $16.4M | 2.41% |
| 8 | IQIYI INC | IQ | 6,800,000 | $13.1M | 1.91% |
| 9 | NETEASE INC | NETTF | 90,000 | $12.4M | 1.81% |
| 10 | RLX TECHNOLOGY INC | RLX | 4,870,744 | $11.3M | 1.66% |
| 11 | RLX TECHNOLOGY INC | RLX | 2,920,184 | $6.8M | 1.00% |
| 12 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 19,385 | $5.9M | 0.86% |
| 13 | ISHARES TR | 464287432 | 59,100 | $5.2M | 0.75% |
| 14 | KANZHUN LIMITED | BZ | 251,642 | $5.1M | 0.75% |
| 15 | AGORA INC | API | 700,000 | $2.8M | 0.42% |
| 16 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 9,349 | $2.8M | 0.42% |
| 17 | NETEASE INC | NETTF | 20,000 | $2.8M | 0.40% |
| 18 | YATSEN HLDG LTD | YSG | 529,993 | $2.1M | 0.30% |
| 19 | KE HLDGS INC | BEKE | 113,389 | $1.8M | 0.26% |