SEC 13F Intelligence

Managers / Q1 2026

Aspex Management (HK) Ltd

CIK 0001768375 · 16TH FLOOR, ST. GEORGE'S BUILDING, 2 ICE HOUSE STREET, CENTRAL, K3, NA · 852-34684160

Reported Value
$6.9B
Q1 2026
Positions
30
Filings on Record
26
2019–present window
Filed
May 15, 2026
original filing

Summary

Aspex Management (Hk) Ltd reported $6.9B in U.S.-listed holdings across 30 positions for Q1 2026.

Its largest position, SNPS, represents 15.3% of the portfolio.

Compared with Q4 2025, the fund opened 6 new positions and exited 1.

Portfolio Metrics

Turnover
+13.5%
vs prior filed quarter
Top-10 Concentration
+78.1%
share of reported value
Largest Position
+15.3%
Synopsys
New / Exited
6 / 1
positions this quarter

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

13F Reported Value
Q4 ’19: $550MQ4 ’19Q1 ’20: $722MQ2 ’20: $815MQ3 ’20: $1.6BQ4 ’20: $2.5BQ4 ’20Q1 ’21: $2.5BQ2 ’21: $3.1BQ3 ’21: $3.0BQ4 ’21: $3.3BQ4 ’21Q1 ’22: $2.5BQ2 ’22: $4.0BQ3 ’22: $3.4BQ1 ’23: $4.1BQ1 ’23Q2 ’23: $3.4BQ3 ’23: $3.2BQ4 ’23: $3.4BQ1 ’24: $3.7BQ1 ’24Q2 ’24: $4.7BQ3 ’24: $3.8BQ4 ’24: $3.7BQ1 ’25: $3.9BQ1 ’25Q2 ’25: $4.6BQ3 ’25: $4.7BQ4 ’25: $4.9BQ1 ’26: $6.9BQ1 ’26filingsflow.com

Portfolio Composition

By security type
Common Stock: 70.6%ADR: 28.2%US DOMESTIC: 1.0%Other: 0.2%
  • Common Stock · 70.6% · $4.9B
  • ADR · 28.2% · $1.9B
  • US DOMESTIC · 1.0% · $67M
  • Other · 0.2% · $16M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CVNACARVANA CONEW+1.82M1.82M+$572M$572M
CRWVCOREWEAVE INCNEW+7.10M7.10M+$550M$550M
MKSIMKS INC.NEW+1.54M1.54M+$354M$354M
GLWCORNING INCNEW+2.54M2.54M+$346M$346M
CPNGCOUPANG INCNEW+16.04M16.04M+$303M$303M
TCOMTRIP COM GROUP LTDNEW+2.33M2.33M+$116M$116M
PDDPDD HOLDINGS INCSOLD OUT−3.11M0−$353M$0
NVDANVIDIA CORPORATIONADDED+2.30M5.17M+$366M$902M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

26 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SNPSSYNOPSYS INChistory →COM15.35%$1.1B2.67M
2NVDANVIDIA CORPORATIONhistory →COM13.08%$902M5.17M
3FUTUFUTU HLDGS LTDhistory →SPON ADS CL A9.06%$625M4.57M
4CVNACARVANA COhistory →CL A8.29%$572M1.82M
5CRWVCOREWEAVE INChistory →COM CL A7.97%$550M7.10M
6SESEA LTDhistory →SPONSORD ADS5.85%$403M4.87M
7MKSIMKS INC.history →COM5.13%$354M1.54M
8GLWCORNING INChistory →COM5.02%$346M2.54M
9CPNGCOUPANG INChistory →CL A4.39%$303M16.04M
10ASAMER SPORTS INChistory →COM SHS3.95%$272M8.27M
11EDUNEW ORIENTAL ED & TECHNOLOGYhistory →SPON ADR3.72%$257M4.53M
12GRABGRAB HOLDINGS LIMITEDhistory →CLASS A ORD3.15%$217M59.30M
13YMMFULL TRUCK ALLIANCE CO LTDhistory →SPONSORED ADS2.62%$181M21.79M
14TERTERADYNE INChistory →COM2.17%$150M506.1K
15LITELUMENTUM HLDGS INChistory →COM2.08%$143M203.9K
16ATATATOUR LIFESTYLE HLDGS LTDhistory →SPONSORED ADS1.90%$131M3.55M
17TCOMTRIP COM GROUP LTDhistory →ADS1.68%$116M2.33M
18QFINQIFU TECHNOLOGY INChistory →AMERICAN DEP1.20%$83M6.42M
19NIONIO INChistory →SPON ADS1.15%$79M13.14M
20H WORLD GROUP LTDNOTE 3.000% 5/00.98%$67M50.00M
21PONYPONY AI INChistory →SPONSORED ADS0.57%$39M4.14M
22RLXRLX TECHNOLOGY INChistory →SPONSORED ADS0.25%$17M7.90M
23NTESNETEASE INChistory →SPONSORED ADS0.24%$17M147.7K
24LANVIN GROUP HOLDINGS LIMITESHS · *W EXP 01/14/2020.10%$7M5.50M
25PRENETICS GLOBAL LTDSHS NEW · *W EXP 05/18/2020.10%$7M1.51M
26RBOTVICARIOUS SURGICAL INCCOM CL A0.00%$62,00086.7K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$6.9B30May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$4.9B25Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$4.7B27Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$4.6B28Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$3.9B30May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$3.7B32Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$3.8B30Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$4.7B37Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$3.7B35May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$3.4B35Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$3.2B30Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$3.4B30Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$4.1B35May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review31Feb 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$3.4B29Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$4.0B30Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$2.5B27May 9, 202213F-HRchanges · EDGAR ↗
Q4 2021$3.3B26Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$3.0B27Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$3.1B24Aug 13, 202113F-HRchanges · EDGAR ↗
Q1 2021$2.5B21May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$2.5B23Feb 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.6B18Nov 13, 202013F-HRchanges · EDGAR ↗
Q2 2020$815M13Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$722M16May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$550M12Feb 5, 202013F-HRchanges · 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 ↗.