Managers / Q3 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 $233M in U.S.-listed holdings across 20 positions for Q3 2025.
The portfolio is heavily concentrated: PDD alone accounts for 58.8% of reported value.
Compared with Q2 2025, the fund opened 11 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 · 81.1% · $189M
- ETP · 17.5% · $41M
- Common Stock · 1.4% · $3M
Quarter-over-Quarter Changes full breakdown →
vs Q2 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| ETHAISHARES ETHEREUM TR | NEW | +400.0K | 400.0K | +$13M | $13M |
| ZLABZAI LAB LTD | NEW | +94.9K | 94.9K | +$3M | $3M |
| BEBLOOM ENERGY CORP | NEW | +9.9K | 9.9K | +$837,243 | $837,243 |
| DIREXION SHS ETF TR | NEW | +8.2K | 8.2K | +$767,602 | $767,602 |
| SYSO YOUNG INTERNATIONAL INC | NEW | +141.0K | 141.0K | +$545,670 | $545,670 |
| ARWRARROWHEAD PHARMACEUTICALS IN | NEW | +10.5K | 10.5K | +$362,145 | $362,145 |
| NTLAINTELLIA THERAPEUTICS INC | NEW | +14.3K | 14.3K | +$247,479 | $247,479 |
| SNPSSYNOPSYS INC | NEW | +500 | 500 | +$246,695 | $246,695 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q3 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | PDDPDD HOLDINGS INChistory → | SPONSORED ADS | 58.79% | $137M | 1.04M |
| 2 | LEGNLEGEND BIOTECH CORPhistory → | SPONSORED ADS | 12.01% | $28M | 856.9K |
| 3 | IBITISHARES BITCOIN TRUST ETFhistory → | SHS BEN INT | 11.33% | $26M | 405.5K |
| 4 | BABAALIBABA GROUP HLDG LTDhistory → | SPONSORED ADS | 8.52% | $20M | 110.9K |
| 5 | ETHAISHARES ETHEREUM TRhistory → | SHS | 5.42% | $13M | 400.0K |
| 6 | ZLABZAI LAB LTDhistory → | ADR | 1.38% | $3M | 94.9K |
| 7 | GQ9SPDR GOLD TR | GOLD SHS | 0.46% | $1M | 3.0K |
| 8 | BEBLOOM ENERGY CORP | COM CL A | 0.36% | $837,243 | 9.9K |
| 9 | DIREXION SHS ETF TR | DAILY S&P BIOTCH | 0.33% | $767,602 | 8.2K |
| 10 | SYSO YOUNG INTERNATIONAL INC | SPONSORED ADS | 0.23% | $545,670 | 141.0K |
| 11 | MSFTMICROSOFT CORP | COM | 0.22% | $517,950 | 1.0K |
| 12 | ARWRARROWHEAD PHARMACEUTICALS IN | COM | 0.16% | $362,145 | 10.5K |
| 13 | AMDADVANCED MICRO DEVICES INC | COM | 0.14% | $323,580 | 2.0K |
| 14 | CSCOCISCO SYS INC | COM | 0.13% | $307,890 | 4.5K |
| 15 | NTLAINTELLIA THERAPEUTICS INC | COM | 0.11% | $247,479 | 14.3K |
| 16 | SNPSSYNOPSYS INC | COM | 0.11% | $246,695 | 500 |
| 17 | PRMEPRIME MEDICINE INC | COM | 0.10% | $231,572 | 41.8K |
| 18 | BEAMBEAM THERAPEUTICS INC | COM | 0.09% | $208,722 | 8.6K |
| 19 | FUTUFUTU HLDGS LTD | SPON ADS CL A | 0.09% | $208,692 | 1.2K |
| 20 | REREATRENEW INC | SPONSORED ADS | 0.04% | $82,800 | 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 ↗.