Managers / Q1 2023 · view latest →
Valliance Asset Management Ltd
CIK 0001846639 · 16/F, 8 QUEEN'S ROAD, CENTRAL, K3, 000000 · 852 35657001
Summary
Valliance Asset Management Ltd reported $56M in U.S.-listed holdings across 9 positions for Q1 2023.
The portfolio is heavily concentrated: BABA alone accounts for 54.4% of reported value.
Compared with Q4 2022, the fund opened 6 new positions and exited 5.
Portfolio Metrics
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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- ADR · 95.1% · $53M
- Other · 4.9% · $3M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| BILIBILIBILI INC | NEW | +453.6K | 453.6K | +$11M | $11M |
| FUTUFUTU HLDGS LTD | NEW | +91.0K | 91.0K | +$5M | $5M |
| YS BIOPHARMA CO LTD | NEW | +1.61M | 1.61M | +$3M | $3M |
| HTHTH WORLD GROUP LTD | NEW | +45.9K | 45.9K | +$2M | $2M |
| YS BIOPHARMA CO LTD | NEW | +750.0K | 750.0K | +$116,775 | $116,775 |
| HH&L ACQUISITION CO | NEW | +400.0K | 400.0K | +$28,000 | $28,000 |
| JDJD.COM INC | SOLD OUT | −186.2K | 0 | −$10M | $0 |
| SUMMIT HEALTHCRE ACQUISTN CO | SOLD OUT | −1.00M | 0 | −$10M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2023
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | BABAALIBABA GROUP HLDG LTDhistory → | SPONSORED ADS | 54.39% | $30M | 298.1K |
| 2 | BILIBILIBILI INChistory → | SPONS ADS REP Z | 19.04% | $11M | 453.6K |
| 3 | FUTUFUTU HLDGS LTDhistory → | SPON ADS CL A | 8.43% | $5M | 91.0K |
| 4 | TSMTAIWAN SEMICONDUCTOR MFG LTDhistory → | SPONSORED ADS | 6.58% | $4M | 39.6K |
| 5 | YS BIOPHARMA CO LTD | ORDINARY SHARES · *W EXP 03/15/202 | 4.80% | $3M | 2.36M |
| 6 | HTHTH WORLD GROUP LTDhistory → | SPONSORED ADS | 4.01% | $2M | 45.9K |
| 7 | GOTUGAOTU TECHEDU INChistory → | SPONSORED ADS | 2.70% | $2M | 357.8K |
| 8 | HH&L ACQUISITION CO | *W EXP 02/04/202 | 0.05% | $28,000 | 400.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $122M | 8 | May 12, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $240M | 11 | Feb 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $13M | 1 | Oct 22, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $13M | 5 | Jul 31, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $44M | 25 | May 8, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $56M | 18 | Feb 4, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $82M | 7 | Oct 31, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $66M | 15 | Aug 7, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $41M | 8 | May 7, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $3M | 6 | Jan 31, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $27M | 14 | Oct 27, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $6M | 4 | Jul 26, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $56M | 9 | May 10, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $71M | 8 | Feb 7, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $36M | 6 | Nov 9, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $24M | 3 | Aug 10, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $18M | 2 | Apr 25, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $41M | 3 | Jan 28, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $99M | 6 | Oct 27, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $23M | 3 | Jul 28, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $8M | 1 | May 5, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $47M | 3 | Feb 18, 2021 | 13F-HR | changes · 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 ↗.