Managers / Q1 2026
IvyRock Asset Management (HK) Ltd
CIK 0001809525 · SUITE 3007, COSCO TOWER, 183 QUEENS ROAD CENTRAL, SHEUNG WAN, K3, 0000 · 85226200482
Summary
Ivyrock Asset Management (Hk) Ltd reported $178M in U.S.-listed holdings across 25 positions for Q1 2026.
The portfolio is heavily concentrated: PDD alone accounts for 65.8% of reported value.
Compared with Q4 2025, the fund opened 8 new positions and exited 6.
Portfolio Metrics
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. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- ADR · 86.0% · $153M
- Common Stock · 8.9% · $16M
- ETP · 5.1% · $9M
- Other · 0.1% · $182,700
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| CRCLCIRCLE INTERNET GROUP INC | NEW | +83.5K | 83.5K | +$8M | $8M |
| BEKEKE HOLDINGS INC-ADR | NEW | +360.0K | 360.0K | +$5M | $5M |
| SPROTT URANIUM MINERS ETF | NEW | +6.5K | 6.5K | +$411,738 | $411,738 |
| AVBPARRIVENT BIOPHARMA INC | NEW | +16.0K | 16.0K | +$369,120 | $369,120 |
| GLOBAL X SILVER MINERS ETF | NEW | +3.5K | 3.5K | +$315,280 | $315,280 |
| JOYYJOYY INC-ADR | NEW | +5.0K | 5.0K | +$291,950 | $291,950 |
| VANECK GOLD MINERS ETF | NEW | +2.5K | 2.5K | +$229,425 | $229,425 |
| DHT HOLDINGS INC | NEW | +10.0K | 10.0K | +$182,700 | $182,700 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | PDDPDD HOLDINGS INChistory → | SPONSORED ADS | 65.78% | $117M | 1.15M |
| 2 | LEGNLEGEND BIOTECH CORP-ADRhistory → | SPONSORED ADS | 8.17% | $15M | 804.0K |
| 3 | BABAALIBABA GROUP HOLDING-SP ADRhistory → | SPONSORED ADS | 6.82% | $12M | 96.7K |
| 4 | CRCLCIRCLE INTERNET GROUP INChistory → | COM CL A | 4.48% | $8M | 83.5K |
| 5 | IBITISHARES BITCOIN TRUST ETFhistory → | SHS BEN INT | 3.59% | $6M | 166.4K |
| 6 | BEKEKE HOLDINGS INC-ADRhistory → | SPONSORED ADS | 3.03% | $5M | 360.0K |
| 7 | TSLATESLA INChistory → | COM | 2.84% | $5M | 13.6K |
| 8 | HUYAHUYA INC-ADRhistory → | ADS REP SHS A | 1.94% | $3M | 1.05M |
| 9 | GQ9SPDR GOLD SHARES | SPDR GOLD TR | 0.73% | $1M | 3.0K |
| 10 | ARWRARROWHEAD PHARMACEUTICALS IN | COM | 0.25% | $438,900 | 7.0K |
| 11 | SPROTT URANIUM MINERS ETF | URANIUM MINERS E | 0.23% | $411,738 | 6.5K |
| 12 | GLOBAL X COPPER MINERS ETF | GLOBAL X COPPER | 0.21% | $381,750 | 5.0K |
| 13 | MSFTMICROSOFT CORP | COM | 0.21% | $370,170 | 1.0K |
| 14 | AVBPARRIVENT BIOPHARMA INC | COM | 0.21% | $369,120 | 16.0K |
| 15 | CSCOCISCO SYSTEMS INC | COM | 0.20% | $349,155 | 4.5K |
| 16 | SNPSSYNOPSYS INC | COM | 0.18% | $317,184 | 800 |
| 17 | GLOBAL X SILVER MINERS ETF | GLOBAL X SILVER | 0.18% | $315,280 | 3.5K |
| 18 | AMDADVANCED MICRO DEVICES | COM | 0.17% | $305,145 | 1.5K |
| 19 | JOYYJOYY INC-ADR | ADS REPSTG COM A | 0.16% | $291,950 | 5.0K |
| 20 | NTLAINTELLIA THERAPEUTICS INC | COM | 0.14% | $254,221 | 19.8K |
| 21 | VANECK GOLD MINERS ETF | GOLD MINERS ETF | 0.13% | $229,425 | 2.5K |
| 22 | BEAMBEAM THERAPEUTICS INC | COM | 0.12% | $204,938 | 8.6K |
| 23 | DHT HOLDINGS INC | SHS NEW | 0.10% | $182,700 | 10.0K |
| 24 | PRMEPRIME MEDICINE INC | COM | 0.08% | $145,464 | 41.8K |
| 25 | REREATRENEW INC | SPONSORED ADS | 0.05% | $93,800 | 20.0K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $178M | 25 | May 7, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $190M | 23 | Feb 11, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $233M | 20 | Nov 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $217M | 13 | Aug 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $213M | 17 | May 7, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $226M | 23 | Feb 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $228M | 22 | Nov 8, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $235M | 21 | Aug 9, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $215M | 20 | May 7, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $201M | 18 | Feb 8, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $192M | 16 | Nov 7, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $172M | 17 | Aug 8, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $195M | 18 | May 12, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $179M | 16 | Feb 7, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $129M | 12 | Nov 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $158M | 14 | Aug 9, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $138M | 14 | May 6, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $87M | 10 | Feb 4, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $106M | 10 | Nov 5, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $194M | 12 | Jul 30, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $154M | 12 | Apr 28, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $162M | 11 | Feb 5, 2021 | 13F-HR | changes · 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 ↗.