Q3 2025 · 13F-HR
Perseverance Asset Management Internationalholdings as filed
Filed 2025-11-14 · accession 0001802695-25-000012
The Brief · Perseverance Asset Management International · Q3 2025
AI · grounded in 13F
Perseverance Asset Management International established a new position in H WORLD GROUP LTD HTHT valued at $203.4M. The fund also initiated new stakes in PDD HOLDINGS INC PDD for $176.2M and ALPHABET INC GOOG for $73.1M. Additional new positions include YUM CHINA HLDGS INC YUMC at $30.6M and RLX TECHNOLOGY INC RLX at $19.6M. Total assets under management stand at $581.9M across 15 positions.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 44332N106 | HTHT | H WORLD GROUP LTD | $203.4M | 35.0% | 5,201,183 | Common | SOLE |
| 722304102 | PDD | PDD HOLDINGS INC | $176.2M | 30.3% | 1,333,235 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $73.1M | 12.6% | 300,000 | Common | SOLE |
| 98850P109 | YUMC | YUM CHINA HLDGS INC | $30.6M | 5.27% | 713,999 | Common | NONE |
| 74969N103 | RLX | RLX TECHNOLOGY INC | $19.6M | 3.37% | 7,465,567 | Common | SOLE |
| G0260P102 | AS | AMER SPORTS INC | $18.9M | 3.24% | 543,404 | Common | SOLE |
| 64110W102 | NTES | NETEASE INC | $17.0M | 2.93% | 112,000 | Common | SOLE |
| 46267X108 | IQ | IQIYI INC | $13.8M | 2.37% | 5,390,000 | Common | SOLE |
| 482497104 | BEKE | KE HLDGS INC | $12.5M | 2.15% | 659,849 | Common | SOLE |
| 48553T106 | BZ | KANZHUN LIMITED | $5.9M | 1.01% | 251,642 | Common | NONE |
| 464287432 | TLT | ISHARES TR | $5.3M | 0.91% | 59,100 | Common | SOLE |
| 135086106 | GOOS | CANADA GOOSE HLDGS INC | $3.0M | 0.52% | 220,000 | Common | SOLE |
| 86627T108 | SMMT | SUMMIT THERAPEUTICS INC | $1.2M | 0.21% | 59,745 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $877,250 | 0.15% | 3,141 | Common | SOLE |
| 00138L108 | RERE | ATRENEW INC | $450,110 | 0.08% | 97,850 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.