Managers / Q2 2025 · 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 $217M in U.S.-listed holdings across 13 positions for Q2 2025.
The portfolio is heavily concentrated: PDD alone accounts for 52.5% of reported value.
Compared with Q1 2025, the fund opened 0 new positions and exited 4.
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 · 77.5% · $168M
- ETP · 17.7% · $38M
- Common Stock · 4.8% · $10M
- Other · 0.0% · $105,200
Quarter-over-Quarter Changes full breakdown →
vs Q1 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SMMTSUMMIT THERAPEUTICS INC | SOLD OUT | −91.7K | 0 | −$2M | $0 |
| MNSOMINISO GROUP HLDG LTD | SOLD OUT | −16.0K | 0 | −$295,840 | $0 |
| FUTUFUTU HLDGS LTD | SOLD OUT | −2.2K | 0 | −$225,170 | $0 |
| ASTSAST SPACEMOBILE INC | SOLD OUT | −9.3K | 0 | −$211,482 | $0 |
| CSIQCANADIAN SOLAR INC | TRIMMED | −1.79M | 817.3K | −$14M | $9M |
| PDDPDD HOLDINGS INC | ADDED | +222.5K | 1.09M | +$11M | $114M |
| GQ9SPDR GOLD TR | ADDED | +300 | 3.0K | +$136,512 | $914,490 |
| MSFTMICROSOFT CORP | TRIMMED | −90 | 1.0K | +$88,235 | $497,410 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q2 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | PDDPDD HOLDINGS INChistory → | SPONSORED ADS | 52.49% | $114M | 1.09M |
| 2 | IBITISHARES BITCOIN TRUST ETFhistory → | SHS BEN INT | 17.23% | $37M | 610.1K |
| 3 | LEGNLEGEND BIOTECH CORPhistory → | SPONSORED ADS | 14.25% | $31M | 869.9K |
| 4 | BABAALIBABA GROUP HLDG LTDhistory → | SPONSORED ADS | 9.63% | $21M | 184.0K |
| 5 | CSIQCANADIAN SOLAR INChistory → | COM | 4.16% | $9M | 817.3K |
| 6 | NEW ORIENTAL ED & TECHNOLOGY | SPON ADR | 1.07% | $2M | 42.8K |
| 7 | GQ9SPDR GOLD TR | GOLD SHS | 0.42% | $914,490 | 3.0K |
| 8 | MSFTMICROSOFT CORP | COM | 0.23% | $497,410 | 1.0K |
| 9 | AKXANSYS INC | COM | 0.15% | $333,659 | 950 |
| 10 | AMDADVANCED MICRO DEVICES INC | COM | 0.15% | $326,370 | 2.3K |
| 11 | CSCOCISCO SYS INC | COM | 0.14% | $312,210 | 4.5K |
| 12 | VALENS SEMICONDUCTOR LTD | ORDINARY SHARES | 0.05% | $105,200 | 40.0K |
| 13 | REREATRENEW INC | SPONSORED ADS | 0.03% | $59,580 | 18.0K |
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 ↗.