SEC 13F Intelligence

Managers / Q3 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
$3.4B
Q3 2022
Positions
29
Filings on Record
26
2019–present window
Filed
Nov 14, 2022
original filing

Summary

Aspex Management (Hk) Ltd reported $3.4B in U.S.-listed holdings across 29 positions for Q3 2022.

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

Compared with Q2 2022, the fund opened 3 new positions and exited 4.

Portfolio Metrics

Turnover
+19.0%
vs prior filed quarter
Top-10 Concentration
+74.7%
share of reported value
Largest Position
+13.1%
Alibaba Group Hldg
New / Exited
3 / 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: 71.9%Common Stock: 21.4%US DOMESTIC: 2.9%GLOBAL: 2.4%Other: 1.3%
  • ADR · 71.9% · $2.4B
  • Common Stock · 21.4% · $726M
  • US DOMESTIC · 2.9% · $98M
  • GLOBAL · 2.4% · $83M
  • Other · 1.3% · $43M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
BABAALIBABA GROUP HLDG LTDNEW+5.53M5.53M+$443M$443M
PDDPINDUODUO INCNEW+1.00M1.00M+$63M$63M
DQDAQO NEW ENERGY CORPNEW+500.0K500.0K+$27M$27M
TSLATESLA INCADDED+235.9K335.1K−$52M$15M
NIONIO INCADDED+6.00M10.11M+$70M$159M
NVDANVIDIA CORPORATIONSOLD OUT−884.8K0−$134M$0
MUMICRON TECHNOLOGY INCSOLD OUT−1.44M0−$80M$0
AAPLAPPLE INCSOLD OUT−1.12M0−$29M$0

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

Holdings — Q3 2022

26 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS13.07%$443M5.53M
2SESEA LTDSPONSORD ADS · NOTE 2.375%12/09.69%$328M35.31M
3DASHDOORDASH INChistory →CL A7.98%$270M5.47M
4JDJD.COM INChistory →SPON ADR CL A7.53%$255M5.07M
5BEKEKE HLDGS INChistory →SPONSORED ADS6.96%$236M13.45M
6LAM RESEARCH CORPCOM6.48%$220M600.0K
7TSMTAIWAN SEMICONDUCTOR MFG LTDhistory →SPONSORED ADS6.47%$219M3.20M
8LVSLAS VEGAS SANDS CORPhistory →COM6.26%$212M5.65M
9LILI AUTO INChistory →SPONSORED ADS5.59%$189M8.23M
10NIONIO INChistory →SPON ADS4.71%$159M10.11M
11FUTUFUTU HLDGS LTDhistory →SPON ADS CL A4.58%$155M4.16M
12GDSGDS HLDGS LTDhistory →SPONSORED ADS4.22%$143M8.09M
13QFIN360 DIGITECH INChistory →AMERICAN DEP4.15%$140M10.96M
14XPEVXPENG INChistory →ADS2.57%$87M7.28M
15IQIYI INCNOTE 2.000% 4/02.11%$71M80.70M
16PDDPINDUODUO INChistory →SPONSORED ADS1.85%$63M1.00M
17HUAZHU GROUP LTDNOTE 3.000% 5/01.61%$55M50.00M
18DQDAQO NEW ENERGY CORPhistory →SPNSRD ADS0.78%$27M500.0K
19BZKANZHUN LIMITEDhistory →SPONSORED ADS0.60%$20M1.21M
20PRENETICS GLOBAL LTDCLASS A ORD · *W EXP 05/18/2020.59%$20M6.36M
21YATSEN HLDG LTDADS0.42%$14M13.13M
22VNET GROUP INCNOTE 2/00.38%$13M15.00M
23HELLO GROUP INCNOTE 1.250% 7/00.33%$11M12.00M
24TSPHTUSIMPLE HLDGS INCCL A0.28%$10M1.26M
25VICARIOUS SURGICAL INCCOM CL A0.26%$9M2.60M
26EMSMART SH GLOBAL LTDADS0.09%$3M4.50M

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 ↗.