SEC 13F Intelligence

Managers / Q2 2023 · 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
Q2 2023
Positions
30
Filings on Record
26
2019–present window
Filed
Aug 14, 2023
original filing

Summary

Aspex Management (Hk) Ltd reported $3.4B in U.S.-listed holdings across 30 positions for Q2 2023.

Its largest position, BABA, represents 13.6% of the portfolio.

Compared with Q1 2023, the fund opened 3 new positions and exited 8.

Portfolio Metrics

Turnover
+20.7%
vs prior filed quarter
Top-10 Concentration
+77.6%
share of reported value
Largest Position
+13.6%
Alibaba Group Hldg
New / Exited
3 / 8
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: 54.0%Common Stock: 41.8%US DOMESTIC: 2.9%Other: 1.3%
  • ADR · 54.0% · $1.9B
  • Common Stock · 41.8% · $1.4B
  • US DOMESTIC · 2.9% · $99M
  • Other · 1.3% · $45M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NVDANVIDIA CORPORATIONNEW+553.6K553.6K+$234M$234M
AMDADVANCED MICRO DEVICES INCNEW+1.32M1.32M+$150M$150M
RLXRLX TECHNOLOGY INCNEW+4.83M4.83M+$9M$9M
BZKANZHUN LIMITEDADDED+3.83M4.82M+$54M$73M
EDUNEW ORIENTAL ED & TECHNOLOGYADDED+512.2K707.6K+$20M$28M
HTHTH WORLD GROUP LTDADDED+222.4K382.4K+$7M$15M
MUMICRON TECHNOLOGY INCADDED+1.45M2.76M+$95M$174M
TSMTAIWAN SEMICONDUCTOR MFG LTDSOLD OUT−1.74M0−$162M$0

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

Holdings — Q2 2023

25 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS13.61%$468M5.61M
2DASHDOORDASH INChistory →CL A11.73%$403M5.28M
3SESEA LTDSPONSORD ADS · NOTE 2.375%12/010.75%$370M35.85M
4LAM RESEARCH CORPCOM9.55%$328M510.9K
5NVDANVIDIA CORPORATIONhistory →COM6.81%$234M553.6K
6LILI AUTO INChistory →SPONSORED ADS6.05%$208M5.93M
7FUTUFUTU HLDGS LTDhistory →SPON ADS CL A5.22%$180M4.52M
8MUMICRON TECHNOLOGY INChistory →COM5.06%$174M2.76M
9BEKEKE HLDGS INChistory →SPONSORED ADS4.48%$154M10.38M
10AMDADVANCED MICRO DEVICES INChistory →COM4.37%$150M1.32M
11QFINQIFU TECHNOLOGY INChistory →AMERICAN DEP4.34%$149M8.63M
12MRVLMARVELL TECHNOLOGY INChistory →COM4.28%$147M2.46M
13JDJD.COM INChistory →SPON ADR CL A3.62%$124M3.64M
14GDSGDS HLDGS LTDhistory →SPONSORED ADS2.80%$96M8.77M
15BZKANZHUN LIMITEDhistory →SPONSORED ADS2.11%$73M4.82M
16HTHTH WORLD GROUP LTDNOTE 3.000% 5/0 · SPONSORED ADS2.09%$72M50.38M
17EDUNEW ORIENTAL ED & TECHNOLOGYhistory →SPON ADR0.81%$28M707.6K
18LANVIN GROUP HOLDINGS LIMITESHS · *W EXP 01/14/2020.64%$22M5.50M
19VNETVNET GROUP INCNOTE 2/0 · SPONSORED ADS A0.59%$20M17.96M
20YATSEN HLDG LTDADS0.39%$13M13.13M
21RLXRLX TECHNOLOGY INCSPONSORED ADS0.25%$9M4.83M
22VICARIOUS SURGICAL INCCOM CL A0.14%$5M2.60M
23PRENETICS GLOBAL LTDCLASS A ORD · *W EXP 05/18/2020.14%$5M6.36M
24EMSMART SH GLOBAL LTDADS0.13%$4M4.50M
25HSAIHESAI GROUPSPONSORED ADS0.06%$2M200.0K

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 ↗.