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Aspex Management (HK) Ltd

Q2 2025 · Filed 2025-08-13
Market Value
$4.5B
+19.8%
Holdings
23
-6
New Purchases
1
Added To
9
Closed
4
Reduced
4
Top 10 Concentration
83.2%
Turnover
21.7%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MRVL 7.25% 0.00% +7.25% $325M
SNPS 7.40% 3.60% +3.80% $331M
INTC 6.20% 4.14% +2.07% $278M
FUTU 9.37% 7.68% +1.69% $419M
GDS 3.01% 2.04% +0.97% $135M
EDU 8.41% 7.52% +0.90% $377M
YMM 5.92% 5.20% +0.73% $265M
DASH 3.99% 3.55% +0.45% $179M
ATAT 3.86% 3.42% +0.44% $173M
QFIN 6.40% 6.09% +0.32% $287M
NTES 0.44% 0.41% +0.04% $20M
PRENW 0.00% 0.00% +0.00% $46K

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
MU 0.00% 4.70% -4.70% $0
CDNS 0.00% 3.88% -3.88% $0
BEKE 0.00% 2.76% -2.76% $0
DECK 2.76% 4.86% -2.10% $124M
SE 18.51% 20.43% -1.92% $829M
TSM 8.84% 10.59% -1.75% $396M
TCOM 1.95% 2.54% -0.58% $87M
LI 0.00% 0.43% -0.43% $0
PONY 0.15% 0.56% -0.41% $7M
TAL 4.93% 5.02% -0.09% $221M
RLX 0.60% 0.61% -0.01% $27M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 3 $673M 15.0%
Large Cap 11 $2.3B 51.7%
Mid Cap 7 $1.2B 26.9%
Small Cap 1 $287M 6.4%
Micro Cap 1 $46K 0.0%

Portfolio Analytics

Avg Market Cap
$184.9B
Median Market Cap
$16.0B
Avg P/E
33.2
Median P/E
17.6
Avg Dividend Yield
0.01%
Avg Beta
1.04
# Stocks
23
# ETFs / Funds
0

Top Holdings (23 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 SE 18.51% 5,180,898 $829M $159.94 $66M -667,308 -11.4%
2 FUTU 9.37% 3,393,307 $419M $123.59 $133M +591,082 +21.1%
3 TSM 8.84% 1,746,681 $396M $226.49 $86K -635,969 -26.7%
4 EDU 8.41% 6,981,188 $377M $53.95 $96M +1,106,716 +18.8%
5 SNPS 7.40% 645,895 $331M $512.68 $197M +332,364 +106.0%
6 MRVL 7.25% 4,195,561 $325M $77.40 +4,195,561 NEW
7 QFIN 6.40% 6,612,366 $287M $43.36 $59M +1,547,312 +30.6%
8 INTC 6.20% 12,398,919 $278M $22.40 $123M +5,594,106 +82.2%
9 YMM 5.92% 22,455,623 $265M $11.81 $71M +7,246,996 +47.6%
10 TAL 4.93% 21,586,517 $221M $10.22 $33M +7,388,698 +52.0%
11 DASH 3.99% 724,740 $179M $246.51 $46M
12 ATAT 3.86% 5,314,881 $173M $32.51 $45M +804,245 +17.8%
13 GDS 3.01% 4,406,949 $135M $30.57 $58M +1,397,073 +46.4%
14 DECK 2.76% 1,198,917 $124M $103.07 -$58M -426,724 -26.2%
15 TCOM 1.95% 1,491,643 $87M $58.64 -$7M
16 RLX 0.60% 12,123,409 $27M $2.21 $4M
17 NTES 0.44% 147,655 $20M $134.58 $5M
18 PONY 0.15% 500,000 $7M $13.20 -$14M -1,875,666 -79.0%
19 PRENW —% 1,166,666 $46K $0.04 $34K
20 BEKE —% -$103M -5,126,453 -100.0% SOLD
21 LI —% -$16M -643,708 -100.0% SOLD
22 MU —% -$176M -2,020,350 -100.0% SOLD
23 CDNS —% -$145M -569,333 -100.0% SOLD

New Positions

SymbolValue% Port
MRVL $325M 7.25%

Sold Out Positions

SymbolValue% Port
BEKE —%
LI —%
CDNS —%
MU —%
View SEC EDGAR Filings for Aspex Management (HK) Ltd →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms