SEC 13F Intelligence

Managers / Q4 2023 · view latest →

IvyRock Asset Management (HK) Ltd

CIK 0001809525 · SUITE 3007, COSCO TOWER, 183 QUEENS ROAD CENTRAL, SHEUNG WAN, K3, 0000 · 85226200482

Reported Value
$201M
Q4 2023
Positions
18
Filings on Record
22
2019–present window
Filed
Feb 8, 2024
original filing

Summary

Ivyrock Asset Management (Hk) Ltd reported $201M in U.S.-listed holdings across 18 positions for Q4 2023.

The portfolio is heavily concentrated: PDD alone accounts for 46.6% of reported value.

Compared with Q3 2023, the fund opened 6 new positions and exited 4.

Portfolio Metrics

Turnover
+1.8%
vs prior filed quarter
Top-10 Concentration
+99.1%
share of reported value
Largest Position
+46.6%
Pdd
New / Exited
6 / 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. 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 ’20: $162MQ4 ’20Q1 ’21: $154MQ2 ’21: $194MQ3 ’21: $106MQ3 ’21Q4 ’21: $87MQ1 ’22: $138MQ2 ’22: $158MQ2 ’22Q3 ’22: $129MQ4 ’22: $179MQ1 ’23: $195MQ1 ’23Q2 ’23: $172MQ3 ’23: $192MQ4 ’23: $201MQ4 ’23Q1 ’24: $215MQ2 ’24: $235MQ3 ’24: $228MQ3 ’24Q4 ’24: $226MQ1 ’25: $213MQ2 ’25: $217MQ2 ’25Q3 ’25: $233MQ4 ’25: $190MQ1 ’26: $178MQ1 ’26filingsflow.com

Portfolio Composition

By security type
ADR: 77.0%Common Stock: 22.8%Other: 0.2%
  • ADR · 77.0% · $154M
  • Common Stock · 22.8% · $46M
  • Other · 0.2% · $501,365

Quarter-over-Quarter Changes full breakdown →

vs Q3 2023 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
VRNSVARONIS SYS INCNEW+8.7K8.7K+$393,936$393,936
TALTAL EDUCATION GROUPNEW+27.3K27.3K+$344,799$344,799
TUYATUYA INCNEW+140.0K140.0K+$322,000$322,000
CSCOCISCO SYS INCNEW+4.5K4.5K+$227,340$227,340
AKXANSYS INCNEW+600600+$217,728$217,728
REREATRENEW INCNEW+35.0K35.0K+$67,200$67,200
FUTUFUTU HLDGS LTDSOLD OUT−7.2K0−$416,232$0
ENQENTEGRIS INCSOLD OUT−3.3K0−$309,903$0

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

Holdings — Q4 2023

18 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1PDDPDD HOLDINGS INChistory →SPONSORED ADS46.64%$94M639.7K
2TSLATESLA INChistory →COM17.73%$36M148.2K
3YMMFULL TRUCK ALLIANCE CO LTDhistory →SPONSORED ADS10.98%$22M3.14M
4KANZHUN LIMITEDSPONSORED ADS7.98%$16M964.5K
5TSMTAIWAN SEMICONDUCTOR MFG LTDhistory →SPONSORED ADS7.94%$16M153.3K
6GTMZOOMINFO TECHNOLOGIES INChistory →COMMON STOCK4.32%$9M468.7K
7HTHTH WORLD GROUP LTDhistory →SPONSORED ADS2.08%$4M124.8K
8SESEA LTDSPONSORD ADS0.99%$2M48.9K
9MSFTMICROSOFT CORPCOM0.20%$409,8841.1K
10VRNSVARONIS SYS INCCOM0.20%$393,9368.7K
11TALTAL EDUCATION GROUPSPONSORED ADS0.17%$344,79927.3K
12HYWIN HLDG LTDADS0.17%$342,115184.9K
13TUYATUYA INCSPONSERED ADS0.16%$322,000140.0K
14CSCOCISCO SYS INCCOM0.11%$227,3404.5K
15AKXANSYS INCCOM0.11%$217,728600
16ABXBARRICK GOLD CORPCOM0.10%$198,99011.0K
17VALENS SEMICONDUCTOR LTDORDINARY SHARES0.08%$159,25065.0K
18REREATRENEW INCSPONSORED ADS0.03%$67,20035.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$178M25May 7, 202613F-HRchanges · EDGAR ↗
Q4 2025$190M23Feb 11, 202613F-HRchanges · EDGAR ↗
Q3 2025$233M20Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$217M13Aug 12, 202513F-HRchanges · EDGAR ↗
Q1 2025$213M17May 7, 202513F-HRchanges · EDGAR ↗
Q4 2024$226M23Feb 12, 202513F-HRchanges · EDGAR ↗
Q3 2024$228M22Nov 8, 202413F-HRchanges · EDGAR ↗
Q2 2024$235M21Aug 9, 202413F-HRchanges · EDGAR ↗
Q1 2024$215M20May 7, 202413F-HRchanges · EDGAR ↗
Q4 2023$201M18Feb 8, 202413F-HRchanges · EDGAR ↗
Q3 2023$192M16Nov 7, 202313F-HRchanges · EDGAR ↗
Q2 2023$172M17Aug 8, 202313F-HRchanges · EDGAR ↗
Q1 2023$195M18May 12, 202313F-HRchanges · EDGAR ↗
Q4 2022$179M16Feb 7, 202313F-HRchanges · EDGAR ↗
Q3 2022$129M12Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$158M14Aug 9, 202213F-HRchanges · EDGAR ↗
Q1 2022$138M14May 6, 202213F-HRchanges · EDGAR ↗
Q4 2021$87M10Feb 4, 202213F-HRchanges · EDGAR ↗
Q3 2021$106M10Nov 5, 202113F-HRchanges · EDGAR ↗
Q2 2021$194M12Jul 30, 202113F-HRchanges · EDGAR ↗
Q1 2021$154M12Apr 28, 202113F-HRchanges · EDGAR ↗
Q4 2020$162M11Feb 5, 202113F-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 ↗.