DOSSIER · 13F-HR · Q1 2026

Perseverance Asset Management International

$909M in tracked AUM across 33 positions as of Q1 2026.

PA
CIK 0001802695 · last filed Mar 31, 2026
Total AUM
$909M
as of Q1 2026
Holdings
33
positions
Whale Score
71
71
strong
Activity
no data
changes this Q
AI Analysis · Q1 2026

Portfolio Overview

Perseverance Asset Management International’s 13F filing for the period ending September 30, 2025, reveals a concentrated, high-conviction portfolio totaling approximately $384.03 million across 16 holdings. The portfolio experienced a slight contraction in value, decreasing by 3.4% from the previous quarter's $397.39 million. This decline is attributable to a combination of market performance and significant asset reallocation rather than a broad exodus from the market. ...

Key Holdings

The portfolio is dominated by H World Group Ltd (HTHT), which serves as the anchor position with a value of $203.42 million, representing a massive 52.97% of the portfolio. The firm increased this stake by 5.2% during the quarter, adding $35.76 million, signaling strong confidence in the Chinese hospitality and travel recovery story.

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
PDD
PDD HOLDINGS INC
$221M2.2M24.3%
02
HTHT
H WORLD GROUP LTD
$195M3.9M21.5%
03
TSM
TAIWAN SEMICONDUCTOR MANUFAC
$151M447K16.6%
04
BZ
KANZHUN LIMITED
$57M4.3M6.3%
05
NVDA
NVIDIA CORPORATION
$51M290K5.6%
06
YUMC
YUM CHINA HLDGS INC
$35M714K3.8%
07
TCOM
TRIP COM GROUP LTD
$34M675K3.7%
08
GOOG
ALPHABET INC
$29M100K3.2%
09
BEKE
KE HLDGS INC
$21M1.4M2.3%
10
FUTU
FUTU HLDGS LTD
$21M150K2.3%

Filing history

2026Q1Mar 31
$909M 33.2%
33 positionsView →
2025Q4Dec 31
$683M 77.7%
19 positionsView →
2025Q3Sep 30
$384M 3.4%
16 positionsView →
2025Q2Jun 30
$397M 16.7%
15 positionsLocked
2025Q1Mar 31
$477M 35.7%
23 positionsLocked
2024Q4Dec 31
$742M 14.5%
30 positionsLocked
2024Q3Sep 30
$868M 13.8%
29 positionsLocked
2024Q2Jun 30
$762M 37.7%
32 positionsLocked
2024Q1Mar 31
$554M 31.9%
35 positionsLocked
2023Q4Dec 31
$420M 8.6%
33 positionsLocked
2023Q3Sep 30
$386M 16.7%
30 positionsLocked
2023Q2Jun 30
$331M 9.7%
22 positionsLocked
Showing 12 of 26