SEC 13F Intelligence

Managers / Q3 2020 · view latest →

BRILLIANCE ASSET MANAGEMENT LTD

CIK 0001665751 · LEVEL 35, UNIT 3560, TWO PACIFIC PLACE, 88 QUEENSWAY, ADMIRALTY, HONG KONG, K3, 00000 · 85238502633

Reported Value
$1.6B
Q3 2020
Positions
13
Filings on Record
30
2019–present window
Filed
Nov 13, 2020
original filing

Summary

Brilliance Asset Management Ltd reported $1.6B in U.S.-listed holdings across 13 positions for Q3 2020.

The portfolio is heavily concentrated: BABA alone accounts for 28.8% of reported value.

Compared with Q2 2020, the fund opened 8 new positions and exited 2.

Portfolio Metrics

Turnover
+22.5%
vs prior filed quarter
Top-10 Concentration
+99.1%
share of reported value
Largest Position
+28.8%
Alibaba Group Hldg
New / Exited
8 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $190MQ4 ’18Q1 ’19: $75MQ2 ’19: $323MQ3 ’19: $408MQ4 ’19: $426MQ4 ’19Q1 ’20: $387MQ2 ’20: $1.1BQ3 ’20: $1.6BQ4 ’20: $2.5BQ4 ’20Q1 ’21: $2.2BQ2 ’21: $1.9BQ3 ’21: $859MQ4 ’21: $480MQ4 ’21Q1 ’22: $254MQ2 ’22: $482MQ3 ’22: $348MQ4 ’22: $366MQ4 ’22Q1 ’23: $334MQ2 ’23: $387MQ3 ’23: $396MQ4 ’23: $462MQ4 ’23Q1 ’24: $453MQ2 ’24: $398MQ3 ’24: $391MQ4 ’24: $444MQ4 ’24Q1 ’25: $303MQ2 ’25: $154MQ3 ’25: $187MQ4 ’25: $255MQ4 ’25Q1 ’26: $339Mfilingsflow.com

Portfolio Composition

By security type
ADR: 79.3%Other: 17.4%Common Stock: 3.4%
  • ADR · 79.3% · $1.2B
  • Other · 17.4% · $271M
  • Common Stock · 3.4% · $53M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
PDDPINDUODUO INCNEW+3.37M3.37M+$250M$250M
ZLABZAI LAB LTDNEW+684.7K684.7K+$57M$57M
NOVOCURE LTDNEW+138.2K138.2K+$15M$15M
HTHTHUAZHU GROUP LTDNEW+319.8K319.8K+$14M$14M
NKENIKE INCNEW+83.0K83.0K+$10M$10M
MARMARRIOTT INTL INC NEWNEW+65.1K65.1K+$6M$6M
BILIBILIBILI INCNEW+126.4K126.4K+$5M$5M
MELCO RESORTS AND ENTMNT LTDNEW+200.8K200.8K+$3M$3M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2020

13 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS28.78%$449M1.53M
2TALTAL EDUCATION GROUPhistory →SPONSORED ADS28.65%$447M5.89M
3NEW ORIENTAL ED & TECHNOLOGYSPON ADR16.37%$256M1.71M
4PDDPINDUODUO INChistory →SPONSORED ADS16.02%$250M3.37M
5ZLABZAI LAB LTDhistory →ADR3.65%$57M684.7K
6NVDANVIDIA CORPORATIONhistory →COM2.33%$36M67.1K
7NOVOCURE LTDORD SHS0.98%$15M138.2K
8HTHTHUAZHU GROUP LTDhistory →SPONSORED ADS0.89%$14M319.8K
9TSMTAIWAN SEMICONDUCTOR MFG LTDhistory →SPONSORED ADS0.73%$11M140.9K
10NKENIKE INChistory →CL B0.67%$10M83.0K
11MARMARRIOTT INTL INC NEWCL A0.39%$6M65.1K
12BILIBILIBILI INCSPONS ADS REP Z0.34%$5M126.4K
13MELCO RESORTS AND ENTMNT LTDADR0.21%$3M200.8K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$339M16May 12, 202613F-HRchanges · EDGAR ↗
Q4 2025$255M6Feb 12, 202613F-HRchanges · EDGAR ↗
Q3 2025$187M7Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$154M7Aug 11, 202513F-HRchanges · EDGAR ↗
Q1 2025$303M9May 12, 202513F-HRchanges · EDGAR ↗
Q4 2024$444M7Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$391M9Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$398M15Aug 13, 202413F-HRchanges · EDGAR ↗
Q1 2024$453M10May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$462M6Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$396M8Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$387M6Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$334M5May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$366M6Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$348M6Nov 9, 202213F-HRchanges · EDGAR ↗
Q2 2022$482M6Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$254M4Apr 29, 202213F-HRchanges · EDGAR ↗
Q4 2021$480M5Feb 11, 202213F-HRchanges · EDGAR ↗
Q3 2021$859M6Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.9B7Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$2.2B9May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$2.5B12Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.6B13Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.1B7Aug 17, 202013F-HRchanges · EDGAR ↗
Q1 2020$387M3May 7, 202013F-HRchanges · EDGAR ↗
Q4 2019$426M4Feb 11, 202013F-HRchanges · EDGAR ↗
Q3 2019$408M6Oct 18, 201913F-HRchanges · EDGAR ↗
Q2 2019$323M6Jul 15, 201913F-HRchanges · EDGAR ↗
Q1 2019$75M4May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$190M4Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.