Managers / Q4 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 $190M in U.S.-listed holdings across 23 positions for Q4 2025.
The portfolio is heavily concentrated: PDD alone accounts for 59.3% of reported value.
Compared with Q3 2025, the fund opened 7 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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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 · 77.9% · $148M
- Common Stock · 14.3% · $27M
- ETP · 7.8% · $15M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| TSLATESLA INC | NEW | +26.3K | 26.3K | +$12M | $12M |
| GOOGLALPHABET INC | NEW | +36.7K | 36.7K | +$11M | $11M |
| HUYAHUYA INC | NEW | +985.4K | 985.4K | +$3M | $3M |
| ALBALBEMARLE CORP | NEW | +8.7K | 8.7K | +$1M | $1M |
| XBISPDR SERIES TRUST | NEW | +6.0K | 6.0K | +$731,580 | $731,580 |
| COPXGLOBAL X FDS | NEW | +3.5K | 3.5K | +$251,265 | $251,265 |
| OUNZVANECK MERK GOLD ETF | NEW | +2.7K | 2.7K | +$231,579 | $231,579 |
| ETHAISHARES ETHEREUM TR | SOLD OUT | −400.0K | 0 | −$13M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2025
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | PDDPDD HOLDINGS INChistory → | SPONSORED ADS | 59.30% | $112M | 991.5K |
| 2 | LEGNLEGEND BIOTECH CORPhistory → | SPONSORED ADS | 9.22% | $17M | 804.0K |
| 3 | BABAALIBABA GROUP HLDG LTDhistory → | SPONSORED ADS | 7.48% | $14M | 96.7K |
| 4 | IBITISHARES BITCOIN TRUST ETFhistory → | SHS BEN INT | 6.52% | $12M | 248.9K |
| 5 | TSLATESLA INChistory → | COM | 6.24% | $12M | 26.3K |
| 6 | GOOGLALPHABET INChistory → | CAP STK CL A | 6.06% | $11M | 36.7K |
| 7 | HUYAHUYA INChistory → | ADS REP SHS A | 1.50% | $3M | 985.4K |
| 8 | ALBALBEMARLE CORP | COM | 0.65% | $1M | 8.7K |
| 9 | GLDSPDR GOLD TR | GOLD SHS | 0.63% | $1M | 3.0K |
| 10 | XBISPDR SERIES TRUST | STATE STREET SPD | 0.39% | $731,580 | 6.0K |
| 11 | ARWRARROWHEAD PHARMACEUTICALS IN | COM | 0.30% | $564,315 | 8.5K |
| 12 | MSFTMICROSOFT CORP | COM | 0.26% | $483,620 | 1.0K |
| 13 | SNPSSYNOPSYS INC | COM | 0.20% | $375,776 | 800 |
| 14 | SYSO YOUNG INTERNATIONAL INC | SPONSORED ADS | 0.19% | $360,960 | 141.0K |
| 15 | CSCOCISCO SYS INC | COM | 0.18% | $346,635 | 4.5K |
| 16 | AMDADVANCED MICRO DEVICES INC | COM | 0.17% | $321,240 | 1.5K |
| 17 | ZLABZAI LAB LTD | ADR | 0.14% | $264,230 | 15.0K |
| 18 | COPXGLOBAL X FDS | GLOBAL X COPPER | 0.13% | $251,265 | 3.5K |
| 19 | BEAMBEAM THERAPEUTICS INC | COM | 0.13% | $238,392 | 8.6K |
| 20 | OUNZVANECK MERK GOLD ETF | GOLD SHS | 0.12% | $231,579 | 2.7K |
| 21 | NTLAINTELLIA THERAPEUTICS INC | COM | 0.09% | $173,777 | 19.3K |
| 22 | PRMEPRIME MEDICINE INC | COM | 0.08% | $145,046 | 41.8K |
| 23 | REREATRENEW INC | SPONSORED ADS | 0.06% | $106,000 | 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 ↗.