Managers / Q4 2021 · view latest →
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 $87M in U.S.-listed holdings across 10 positions for Q4 2021.
The portfolio is heavily concentrated: JD alone accounts for 36.4% of reported value.
Compared with Q3 2021, the fund opened 3 new positions and exited 3.
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 · 65.7% · $57M
- Common Stock · 19.6% · $17M
- Other · 14.7% · $13M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2021 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| PDDPINDUODUO INC | NEW | +104.3K | 104.3K | +$6M | $6M |
| COINCOINBASE GLOBAL INC | NEW | +19.3K | 19.3K | +$5M | $5M |
| REREATRENEW INC | NEW | +30.0K | 30.0K | +$178,000 | $178,000 |
| FUTUFUTU HLDGS LTD | SOLD OUT | −258.7K | 0 | −$24M | $0 |
| VIPSVIPSHOP HOLDINGS LIMITED | SOLD OUT | −330.0K | 0 | −$4M | $0 |
| COMPCOMPASS INC | SOLD OUT | −36.0K | 0 | −$477,000 | $0 |
| TIGRUP FINTECH HLDG LTD | TRIMMED | −226.0K | 292.0K | −$4M | $1M |
| SESEA LTD | ADDED | +6.8K | 23.9K | −$99,000 | $5M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2021
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | JDJD.COM INChistory → | SPON ADR CL A | 36.35% | $32M | 453.2K |
| 2 | ZTOZTO EXPRESS CAYMAN INChistory → | SPONSORED ADS A | 14.47% | $13M | 448.0K |
| 3 | UPWKUPWORK INChistory → | COM | 13.99% | $12M | 357.8K |
| 4 | NEW ORIENTAL ED & TECHNOLOGY | SPON ADR | 13.41% | $12M | 5.58M |
| 5 | PDDPINDUODUO INChistory → | SPONSORED ADS | 6.96% | $6M | 104.3K |
| 6 | SESEA LTDhistory → | SPONSORD ADS | 6.11% | $5M | 23.9K |
| 7 | COINCOINBASE GLOBAL INChistory → | COM CL A | 5.59% | $5M | 19.3K |
| 8 | TIGRUP FINTECH HLDG LTDhistory → | SPONSORED ADS | 1.64% | $1M | 292.0K |
| 9 | HYWIN HLDG LTD | ADS | 1.28% | $1M | 200.0K |
| 10 | REREATRENEW INC | SPONSORED ADS | 0.20% | $178,000 | 30.0K |
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 ↗.