SEC 13F Intelligence

Managers / Q2 2021 · view latest →

Aspex Management (HK) Ltd

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

Reported Value
$3.1B
Q2 2021
Positions
24
Filings on Record
26
2019–present window
Filed
Aug 13, 2021
original filing

Summary

Aspex Management (Hk) Ltd reported $3.1B in U.S.-listed holdings across 24 positions for Q2 2021.

Its largest position, JD, represents 17.0% of the portfolio.

Compared with Q1 2021, the fund opened 7 new positions and exited 4.

Portfolio Metrics

Turnover
+13.6%
vs prior filed quarter
Top-10 Concentration
+84.0%
share of reported value
Largest Position
+17.0%
Jd Com
New / Exited
7 / 4
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
ADR: 72.6%Common Stock: 16.1%Other: 8.3%GLOBAL: 2.9%
  • ADR · 72.6% · $2.2B
  • Common Stock · 16.1% · $493M
  • Other · 8.3% · $254M
  • GLOBAL · 2.9% · $88M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TSPHTUSIMPLE HLDGS INCNEW+2.12M2.12M+$151M$151M
DDLDINGDONG CAYMAN LTDNEW+2.22M2.22M+$85M$85M
DIDIYDIDI GLOBAL INCNEW+2.00M2.00M+$28M$28M
EMSMART SH GLOBAL LTDNEW+4.50M4.50M+$27M$27M
BZKANZHUN LIMITEDNEW+525.0K525.0K+$21M$21M
ARTISAN ACQUISITION CORPNEW+1.25M1.25M+$12M$12M
OATLY GROUP ABNEW+400.0K400.0K+$10M$10M
YATSEN HLDG LTDADDED+7.56M11.13M+$60M$104M

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

Holdings — Q2 2021

23 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1JDJD.COM INChistory →SPON ADR CL A17.00%$519M6.51M
2GDSGDS HLDGS LTDhistory →SPONSORED ADS13.70%$418M5.33M
3XPEVXPENG INChistory →ADS11.64%$355M8.00M
4QFIN360 DIGITECH INChistory →AMERICAN DEP11.49%$351M8.39M
5LAM RESEARCH CORPCOM5.60%$171M262.9K
6MUMICRON TECHNOLOGY INChistory →COM5.60%$171M2.01M
7HTHTHUAZHU GROUP LTDSPONSORED ADS · DEBT 3.000% 5/05.51%$168M51.82M
8TSPHTUSIMPLE HLDGS INChistory →CL A4.95%$151M2.12M
9LILI AUTO INChistory →SPONSORED ADS4.58%$140M4.00M
10BEKEKE HLDGS INChistory →SPONSORED ADS3.90%$119M2.50M
11YATSEN HLDG LTDADS3.42%$104M11.13M
12DDLDINGDONG CAYMAN LTDhistory →ADS2.78%$85M2.22M
13IQIYI INCNOTE 2.000% 4/02.48%$76M80.70M
14NIONIO INChistory →SPON ADS1.88%$57M1.08M
15NEW FRONTIER HEALTH CORPORD SHS1.49%$46M4.08M
16DIDIYDIDI GLOBAL INChistory →SPONSORED ADS0.93%$28M2.00M
17EMSMART SH GLOBAL LTDhistory →ADS0.89%$27M4.50M
18BZKANZHUN LIMITEDhistory →SPONSORED ADS0.68%$21M525.0K
19MOMO INCNOTE 1.250% 7/00.41%$12M14.00M
20ARTISAN ACQUISITION CORPUNIT 03/26/20260.41%$12M1.25M
21MAGNUM OPUS ACQUISITION LTDUNIT 06/03/20260.33%$10M991.4K
22OATLY GROUP ABSPONSORED ADS0.32%$10M400.0K
23NEW FRONTIER HEALTH CORP WW EXP 11/30/2020.01%$427,000162.5K

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 ↗.