BA
Brilliance Asset Management LTD SEC 13F Filing (Q2 2026) — Holdings & Portfolio
Brilliance Asset Management LTDCIK: 0001665751
Sector-focusedMomentum followerConcentrated strategy
Total reported value
$339.3M
Reporting period: 2026-06-30 · Number of holdings: 11
BRILLIANCE ASSET MANAGEMENT LTD disclosed 11 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $339.3M and a quarterly turnover rate of 66.0%.
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Personality snowflake
- Concentration
- 90.62
- Portfolio Stability
- 65.98
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 22
- Sizing Uniformity
- 87.19
Brilliance Asset Management LTD's disclosed holdings carry a Herfindahl concentration index of 0.227 — mathematically equivalent to about 4 equally-sized positions, well below its 11 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.28), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 7.8 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 53% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd PDD
+121.8% $47.2M
Sold out ONTO
Sold out AS
Add YMM
+55.3% $28.1M
New buy META
Sold out GOOG
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | PDD | Pdd Holdings Inc | Stock-Consumer Disc | 35.12% | +13.89% | +121.76% | |
| 2 | YMM | Full Truck Alliance -spn Adr | Stock-Other | 24.23% | +8.26% | +55.28% | |
| 3 | BZ | Kanzhun LTD - Adr | Stock-Other | 18.99% | -0.68% | +0.56% | |
| 4 | META | Meta Platforms Inc-class A | Stock-Comm Services | 6.83% | +6.83% | NEW | |
| 5 | TXN | Texas Instruments Inc | Stock-Tech | 3.73% | +1.10% | -24.82% | |
| 6 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.87% | -1.15% | -37.51% | |
| 7 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 2.50% | +1.70% | +121.89% | |
| 8 | LX | Lexinfintech Holdings L-adr | Stock-Other | 2.21% | -0.23% | — | |
| 9 | NVDA | Nvidia CORP | Stock-Tech | 1.20% | -0.74% | -51.85% | |
| 10 | KSPI | Jsc Kaspi.kz Adr | Stock-Other | 1.20% | +1.20% | NEW | |
| 11 | TCOM | Trip.com Group Ltd-adr | Stock-Consumer Disc | 1.12% | -0.20% | +5.98% |
Portfolio Performance
Performance for Q3 2026
+3.8%
Performance Last 4 Quarters
+6.7%
- Stdev
- +35.7%
- Beta
- +1.04
- Alpha
- -4.5%
- Max Drawdown
- -30.7%
- Annualized Perf
- +11%
- Batting Avg vs S&P
- +50%
- Sortino
- +0.85
- Stutzer
- +0.14
- Treynor
- +0.16
- Sterling
- +0.41
- Calmar
- +0.36
- Information Ratio
- -0.11
- Tracking Error
- +33%
- Stdev Down
- +19.2%
- Winning Months %
- +52.8%
- Losing Months %
- +47.2%
- Best 12 Months
- +73.1%
- Worst 12 Months
- -26%
- Efficiency Ratio
- +0.14
- Sharpe
- +0.46
- Stdev Sectors
- +28.3%
- Skewness
- +0.92
- Kurtosis
- +1.42
- Upside Potential
- +2.67
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 11 | $339.3M | 66 | ||
| 2026 Q1 | 16 | $339.1M | 84 | ||
| 2025 Q4 | 6 | $254.8M | 100 | ||
| 2025 Q3 | 7 | $187.5M | 100 | ||
| 2025 Q2 | 7 | $153.6M | 0 | ||
| 2025 Q1 | 9 | $302.5M | 100 | ||
| 2024 Q4 | 7 | $443.9M | 0 | ||
| 2024 Q3 | 9 | $390.7M | 0 | ||
| 2024 Q2 | 15 | $398.1M | 0 | ||
| 2024 Q1 | 10 | $453.1M | 0 | ||
| 2023 Q4 | 6 | $461.9M | 0 | ||
| 2023 Q3 | 8 | $396.4M | 0 | ||
| 2023 Q2 | 6 | $387.5M | 0 | ||
| 2023 Q1 | 5 | $333.6M | 0 | ||
| 2022 Q4 | 6 | $366.2M | 0 | ||
| 2022 Q3 | 6 | $347.6M | 0 | ||
| 2022 Q2 | 6 | $482.5M | 0 | ||
| 2022 Q1 | 4 | $254.1M | 0 | ||
| 2021 Q4 | 5 | $480.0M | 0 | ||
| 2021 Q3 | 6 | $858.5M | 0 | ||
| 2021 Q2 | 7 | $1.9B | 100 | ||
| 2021 Q1 | 9 | $2.2B | 68 | ||
| 2020 Q4 | 12 | $2.5B | 78 | ||
| 2020 Q3 | 13 | $1.6B | 83 | ||
| 2020 Q2 | 7 | $1.1B | 100 | ||
| 2020 Q1 | 3 | $386.8M | 11 | ||
| 2019 Q4 | 4 | $426.3M | 37 | ||
| 2019 Q3 | 6 | $407.5M | 44 | ||
| 2019 Q2 | 6 | $323.1M | 100 | ||
| 2019 Q1 | 4 | $75.3M | 93 | ||
| 2018 Q4 | 4 | $190.1M | 24 | ||
| 2018 Q3 | 3 | $240.4M | 89 | ||
| 2018 Q2 | 6 | $336.3M | 100 | ||
| 2018 Q1 | 4 | $176.5M | 98 | ||
| 2017 Q4 | 5 | $332.3M | 30 | ||
| 2017 Q3 | 4 | $247.6M | 86 | ||
| 2017 Q2 | 7 | $199.8M | 89 | ||
| 2017 Q1 | 8 | $196.9M | 87 | ||
| 2016 Q4 | 6 | $152.9M | — |
Holding changes this quarter
Brilliance Asset Management LTD's most significant position changes for 2026-06-30: Sold out: Onto Innovation Inc (ONTO); Sold out: Amer Sports, Inc. (AS); New buy: Meta Platforms Inc-class A (META); Sold out: Alphabet Inc-cl C (GOOG); Sold out: Futu Holdings Ltd-adr (FUTU).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | PDD | Pdd Holdings Inc | +13.9% | +121.76% | Add |
| 2 | YMM | Full Truck Alliance -spn Adr | +8.3% | +55.28% | Add |
| 3 | META | Meta Platforms Inc-class A | +6.8% | NEW | New buy |
| 4 | TSM | Taiwan Semiconductor-sp Adr | +1.7% | +121.89% | Add |
| 5 | KSPI | Jsc Kaspi.kz Adr | +1.2% | NEW | New buy |
| 6 | TXN | Texas Instruments Inc | +1.1% | -24.82% | Trim |
| 7 | BABA | Alibaba Group Holding-sp Adr | -0.1% | EXIT | Sold out |
| 8 | TCOM | Trip.com Group Ltd-adr | -0.2% | +5.98% | Add |
| 9 | LX | Lexinfintech Holdings L-adr | -0.2% | — | Unchanged |
| 10 | U | Unity Software Inc | -0.5% | EXIT | Sold out |
| 11 | BZ | Kanzhun LTD - Adr | -0.7% | +0.56% | Add |
| 12 | NVDA | Nvidia CORP | -0.7% | -51.85% | Trim |
| 13 | ZTO | Zto Express Cayman Inc-adr | -0.8% | EXIT | Sold out |
| 14 | AMZN | Amazon.com Inc | -1.2% | -37.51% | Trim |
| 15 | FUTU | Futu Holdings Ltd-adr | -1.7% | EXIT | Sold out |
| 16 | GOOG | Alphabet Inc-cl C | -5.5% | EXIT | Sold out |
| 17 | AS | Amer Sports, Inc. | -9.7% | EXIT | Sold out |
| 18 | ONTO | Onto Innovation Inc | -11.7% | EXIT | Sold out |
Filing History
FAQ
What is Brilliance Asset Management LTD and what type of investor is it?
Brilliance Asset Management LTD is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $339.3M, spread across 11 disclosed positions.
What are Brilliance Asset Management LTD's largest equity positions?
Based on the latest 13F filing, Brilliance Asset Management LTD's top holdings by market value are:
1. Pdd Holdings Inc (PDD) — $119.2M (35.1%)
2. Full Truck Alliance -spn Adr (YMM) — $82.2M (24.2%)
3. Kanzhun LTD - Adr (BZ) — $64.5M (19.0%)
4. Meta Platforms Inc-class A (META) — $23.2M (6.8%)
5. Texas Instruments Inc (TXN) — $12.7M (3.7%)
What changes did Brilliance Asset Management LTD make in its most recent portfolio filing?
In the latest reported quarter, Brilliance Asset Management LTD made 17 notable position adjustments: 2 new positions were initiated, 5 existing holdings were added to, 3 positions were partially reduced, and 7 were completely exited. The largest of these moves: Sold out: Onto Innovation Inc (ONTO); Sold out: Amer Sports, Inc. (AS); New buy: Meta Platforms Inc-class A (META); Sold out: Alphabet Inc-cl C (GOOG); Sold out: Futu Holdings Ltd-adr (FUTU)
What sectors does Brilliance Asset Management LTD focus on?
Brilliance Asset Management LTD is concentrated in the following sectors based on its current disclosed equity portfolio:
• Consumer Discretionary: 73.3%
• Information Technology: 13.9%
• Communication Services: 12.8%
Investment Profile
Brilliance Asset Management LTD returned an annualized 11.0% over the trailing 36 months — underperforming the S&P 500 by 4.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.04 (roughly in line with the market) and a 50% quarterly batting average against the index.
Its portfolio is concentrated and fast-trading, with 73.3% of the portfolio concentrated in Consumer Discretionary.
Its turnover score has risen from 0 to 66 over the past 4 quarters — a shift toward more active trading.
It has added to its PDD position over the past two quarters (+$51.7M, now $119.2M), while trimming LX over the same stretch (-$4.3M, still holding $7.5M).
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