SEC 13F Intelligence

Managers / Q3 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
$3.2B
Q3 2023
Positions
30
Filings on Record
26
2019–present window
Filed
Nov 14, 2023
original filing

Summary

Aspex Management (Hk) Ltd reported $3.2B in U.S.-listed holdings across 30 positions for Q3 2023.

Its largest position, BABA, represents 14.1% of the portfolio.

Compared with Q2 2023, the fund opened 3 new positions and exited 3.

Portfolio Metrics

Turnover
+14.8%
vs prior filed quarter
Top-10 Concentration
+78.0%
share of reported value
Largest Position
+14.1%
Alibaba Group Hldg
New / Exited
3 / 3
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: 48.2%ADR: 47.7%US DOMESTIC: 3.0%Other: 1.1%
  • Common Stock · 48.2% · $1.6B
  • ADR · 47.7% · $1.5B
  • US DOMESTIC · 3.0% · $98M
  • Other · 1.1% · $36M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
PDDPDD HOLDINGS INCNEW+1.13M1.13M+$111M$111M
FCXFREEPORT-MCMORAN INCNEW+2.52M2.52M+$94M$94M
GRABGRAB HOLDINGS LIMITEDNEW+8.00M8.00M+$28M$28M
RLXRLX TECHNOLOGY INCADDED+7.30M12.12M+$10M$18M
JDJD.COM INCSOLD OUT−3.64M0−$124M$0
EDUNEW ORIENTAL ED & TECHNOLOGYSOLD OUT−707.6K0−$28M$0
HTHTH WORLD GROUP LTDSOLD OUT−382.4K0−$15M$0
AMDADVANCED MICRO DEVICES INCADDED+947.8K2.27M+$83M$233M

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

Holdings — Q3 2023

26 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1BABAALIBABA GROUP HLDG LTDhistory →SPONSORED ADS14.15%$460M5.30M
2DASHDOORDASH INChistory →CL A9.62%$313M3.93M
3NVDANVIDIA CORPORATIONhistory →COM9.09%$296M679.3K
4SESEA LTDSPONSORD ADS · NOTE 2.375%12/08.98%$292M35.99M
5MUMICRON TECHNOLOGY INChistory →COM8.43%$274M4.03M
6AMDADVANCED MICRO DEVICES INChistory →COM7.17%$233M2.27M
7LILI AUTO INChistory →SPONSORED ADS5.73%$186M5.22M
8LAM RESEARCH CORPCOM5.46%$177M282.9K
9FUTUFUTU HLDGS LTDhistory →SPON ADS CL A4.71%$153M2.65M
10MRVLMARVELL TECHNOLOGY INChistory →COM4.67%$152M2.80M
11QFINQIFU TECHNOLOGY INChistory →AMERICAN DEP4.08%$133M8.63M
12PDDPDD HOLDINGS INChistory →SPONSORED ADS3.42%$111M1.13M
13GDSGDS HLDGS LTDhistory →SPONSORED ADS2.96%$96M8.77M
14FCXFREEPORT-MCMORAN INChistory →CL B2.89%$94M2.52M
15BEKEKE HLDGS INChistory →SPONSORED ADS2.20%$72M4.61M
16H WORLD GROUP LTDNOTE 3.000% 5/01.78%$58M50.00M
17BZKANZHUN LIMITEDhistory →SPONSORED ADS1.32%$43M2.82M
18GRABGRAB HOLDINGS LIMITEDhistory →CLASS A ORD0.87%$28M8.00M
19VNETVNET GROUP INCNOTE 2/0 · SPONSORED ADS A0.65%$21M17.96M
20LANVIN GROUP HOLDINGS LIMITESHS · *W EXP 01/14/2020.57%$18M5.50M
21RLXRLX TECHNOLOGY INChistory →SPONSORED ADS0.56%$18M12.12M
22YATSEN HLDG LTDADS0.40%$13M13.13M
23EMSMART SH GLOBAL LTDADS0.10%$3M4.50M
24PRENETICS GLOBAL LTDCLASS A ORD · *W EXP 05/18/2020.08%$3M6.36M
25HSAIHESAI GROUPSPONSORED ADS0.06%$2M200.0K
26VICARIOUS SURGICAL INCCOM CL A0.05%$2M2.60M

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 ↗.