Managers / Q4 2024 · view latest →
BRIGHT VALLEY CAPITAL Ltd
CIK 0001965546 · UNIT 1129, 11F, ADMIRALTY CENTRE TOWER 2, 18 HARCOURT ROAD, ADMIRALTY,, HONG KONG, K3, 999077 · 852 3973 5923
Summary
Bright Valley Capital Ltd reported $234M in U.S.-listed holdings across 10 positions for Q4 2024.
Its largest position, MOMO, represents 15.3% of the portfolio.
Compared with Q3 2024, the fund opened 5 new positions and exited 3.
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. 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 · 50.4% · $118M
- Other · 35.9% · $84M
- ETP · 13.7% · $32M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ALIBABA GROUP HOLDING LTD | NEW | +650.0K | 650.0K | +$55M | $55M |
| PDD HOLDINGS INC | NEW | +300.0K | 300.0K | +$29M | $29M |
| LXLEXINFINTECH HOLDINGS LTD | NEW | +3.99M | 3.99M | +$23M | $23M |
| RLXRLX TECHNOLOGY INC | NEW | +8.93M | 8.93M | +$19M | $19M |
| BABAALIBABA GROUP HOLDING LTD | NEW | +41.7K | 41.7K | +$4M | $4M |
| IBITISHARES BITCOIN TRUST ETF | ADDED | +405.0K | 605.0K | +$25M | $32M |
| PDDPDD Holdings Inc | SOLD OUT | −103.5K | 0 | −$14M | $0 |
| INTCIntel Corp | SOLD OUT | −23.4K | 0 | −$548,964 | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2024
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | MOMOHELLO GROUP INChistory → | ADS | 15.30% | $36M | 4.65M |
| 2 | IBITISHARES BITCOIN TRUST ETFhistory → | SHS BEN INT | 13.69% | $32M | 605.0K |
| 3 | LXLEXINFINTECH HOLDINGS LTDhistory → | ADR | 9.87% | $23M | 3.99M |
| 4 | RLXRLX TECHNOLOGY INChistory → | SPONSORED ADS | 8.23% | $19M | 8.93M |
| 5 | DOYUDOUYU INTERNATIONAL HOLDINGS LTDhistory → | SPONSORED ADS A | 7.54% | $18M | 1.58M |
| 6 | JOYYJOYY INChistory → | ADS REPSTG COM A | 6.71% | $16M | 376.0K |
| 7 | BABAALIBABA GROUP HOLDING LTDhistory → | SPONSORED ADS | 1.51% | $4M | 41.7K |
| 8 | VIPSVIPSHOP HOLDINGS LTDhistory → | SPONSORED ADS A | 1.21% | $3M | 210.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $153M | 13 | May 13, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $269M | 15 | Feb 12, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $169M | 13 | Nov 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $142M | 11 | Aug 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $297M | 18 | May 13, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $234M | 10 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $128M | 8 | Nov 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $89M | 11 | Aug 26, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $68M | 10 | May 16, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $126M | 9 | Feb 14, 2024 | 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 ↗.