SEC 13F Intelligence

Managers / Q1 2022 · 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
$2.5B
Q1 2022
Positions
27
Filings on Record
26
2019–present window
Filed
May 9, 2022
original filing

Summary

Aspex Management (Hk) Ltd reported $2.5B in U.S.-listed holdings across 27 positions for Q1 2022.

Its largest position, JD, represents 13.1% of the portfolio.

Compared with Q4 2021, the fund opened 7 new positions and exited 6.

Portfolio Metrics

Turnover
+20.6%
vs prior filed quarter
Top-10 Concentration
+78.4%
share of reported value
Largest Position
+13.1%
Jd Com
New / Exited
7 / 6
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: 76.9%Common Stock: 13.1%US DOMESTIC: 4.0%GLOBAL: 3.0%Other: 3.0%
  • ADR · 76.9% · $1.9B
  • Common Stock · 13.1% · $332M
  • US DOMESTIC · 4.0% · $102M
  • GLOBAL · 3.0% · $77M
  • Other · 3.0% · $75M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
SESEA LTDNEW+1.64M1.64M+$196M$196M
TSMTAIWAN SEMICONDUCTOR MFG LTDNEW+1.55M1.55M+$162M$162M
DASHDOORDASH INCNEW+728.6K728.6K+$85M$85M
TSLATESLA INCNEW+222.2K222.2K+$70M$70M
LAM RESEARCH CORPNEW+70.0K70.0K+$38M$38M
KANZHUN LIMITEDNEW+1.20M1.20M+$30M$30M
AAPLAPPLE INCNEW+1.12M1.12M+$10M$10M
NTESNETEASE INCSOLD OUT−3.27M0−$333M$0

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

Holdings — Q1 2022

24 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1JDJD.COM INChistory →SPON ADR CL A13.08%$331M5.72M
2GDSGDS HLDGS LTDhistory →SPONSORED ADS12.06%$305M7.77M
3XPEVXPENG INChistory →ADS10.45%$264M9.58M
4SESEA LTDSPONSORD ADS · NOTE 2.375%12/09.67%$245M31.64M
5QFIN360 DIGITECH INChistory →AMERICAN DEP6.66%$169M10.96M
6TSMTAIWAN SEMICONDUCTOR MFG LTDhistory →SPONSORED ADS6.39%$162M1.55M
7LILI AUTO INChistory →SPONSORED ADS6.12%$155M6.00M
8BEKEKE HLDGS INChistory →SPONSORED ADS5.87%$148M12.00M
9ZTOZTO EXPRESS CAYMAN INChistory →SPONSORED ADS A4.15%$105M4.20M
10MUMICRON TECHNOLOGY INChistory →COM3.93%$100M1.28M
11FUTUFUTU HLDGS LTDhistory →SPON ADS CL A3.86%$98M3.00M
12DASHDOORDASH INChistory →CL A3.37%$85M728.6K
13IQIYI INCNOTE 2.000% 4/02.53%$64M80.70M
14HUAZHU GROUP LTDNOTE 3.000% 5/02.10%$53M50.00M
15LAM RESEARCH CORPCOM1.49%$38M70.0K
16KANZHUN LIMITEDSPONSORED ADS1.18%$30M1.20M
17TSPHTUSIMPLE HLDGS INChistory →CL A1.17%$30M2.42M
18VICARIOUS SURGICAL INCCOM CL A0.52%$13M2.60M
19HELLO GROUP INCNOTE 1.250% 7/00.50%$13M14.00M
20ARTISAN ACQUISITION CORPUNIT 03/26/20260.49%$12M1.25M
21MAGNUM OPUS ACQUISITION LTDUNIT 06/03/20260.41%$10M991.4K
22YATSEN HLDG LTDADS0.36%$9M13.13M
23DDLDINGDONG CAYMAN LTDADS0.28%$7M2.01M
24EMSMART SH GLOBAL LTDADS0.23%$6M4.50M

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 ↗.