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AMH

Aspex Management (HK) Portfolio holdings

AUM $6.9B
1-Year Est. Return 28.37%
This Fund
S&P 500
This Quarter Est. Return
-3.97%
1 Year Est. Return
+28.37%
3 Year Est. Return
+152.59%
5 Year Est. Return
+77.04%
10 Year Est. Return
–
AUM
$6.9B
AUM Growth
+$1.96B
Cap. Flow
+$2.64B
Cap. Flow %
38.28%
Top 10 Hldgs %
78.07%
Holding
30
New
6
Increased
6
Reduced
5
Closed
1

Top Buys

1
CVNA icon
Carvana
CVNA
+$675M
2
CRWV
CoreWeave
CRWV
+$616M
3
NVDA icon
NVIDIA
NVDA
+$422M
4
MKSI icon
MKS Inc
MKSI
+$348M
5
CPNG icon
Coupang
CPNG
+$314M

Top Sells

1
PDD icon
Pinduoduo
PDD
+$353M
2
LITE icon
Lumentum
LITE
+$263M
3
TER icon
Teradyne
TER
+$147M
4
EDU icon
New Oriental
EDU
+$28.1M
5
YMM icon
Full Truck Alliance
YMM
+$18.8M

Sector Composition

1 Technology 57.12%
2 Consumer Discretionary 27.29%
3 Financials 10.27%
4 Consumer Staples 4.07%
5 Communication Services 0.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SNPS icon
1
Synopsys
SNPS
$73.6B
$1.06B 15.35%
2,670,532
+544,443
+26% +$246M
NVDA icon
2
NVIDIA
NVDA
$4.91T
$902M 13.08%
5,174,466
+2,300,597
+80% +$422M
FUTU icon
3
Futu Holdings
FUTU
$13.3B
$625M 9.06%
4,572,746
+1,201,149
+36% +$187M
CVNA icon
4
Carvana
CVNA
$48.2B
$572M 8.29%
+9,095,450
New +$675M
CRWV
5
CoreWeave
CRWV
$39.9B
$550M 7.97%
+7,097,527
New +$616M
SE icon
6
Sea Limited
SE
$63.7B
$403M 5.85%
4,870,097
+1,497,081
+44% +$160M
MKSI icon
7
MKS Inc
MKSI
$21.9B
$354M 5.13%
+1,538,789
New +$348M
GLW icon
8
Corning
GLW
$133B
$346M 5.02%
+2,544,734
New +$307M
CPNG icon
9
Coupang
CPNG
$29.8B
$303M 4.39%
+16,037,845
New +$314M
AS icon
10
Amer Sports
AS
$21.2B
$272M 3.95%
8,268,605
+674,978
+9% +$24.7M
EDU icon
11
New Oriental
EDU
$7.82B
$257M 3.72%
4,532,665
-492,320
-10% -$28.1M
GRAB icon
12
Grab
GRAB
$14.6B
$217M 3.15%
59,304,024
+3,439,149
+6% +$14.6M
YMM icon
13
Full Truck Alliance
YMM
$9.48B
$181M 2.62%
21,791,354
-1,972,599
-8% -$18.8M
TER icon
14
Teradyne
TER
$50.5B
$150M 2.17%
506,070
-525,768
-51% -$147M
LITE icon
15
Lumentum
LITE
$57B
$143M 2.08%
203,942
-478,017
-70% -$263M
ATAT icon
16
Atour Lifestyle Holdings
ATAT
$4.38B
$131M 1.9%
3,552,677
-5,118
-0.1% -$193K
TCOM icon
17
Trip.com Group
TCOM
$26.7B
$116M 1.68%
+2,329,290
New +$136M
QFIN icon
18
Qfin Holdings
QFIN
$1.55B
$82.9M 1.2%
6,422,510
– –
NIO icon
19
NIO
NIO
$12.2B
$79.2M 1.15%
13,141,609
– –
PONY
20
Pony AI Inc
PONY
$2.89B
$39.1M 0.57%
4,140,447
– –
RLX icon
21
RLX Technology
RLX
$2.51B
$17.4M 0.25%
7,901,172
– –
NTES icon
22
NetEase
NTES
$84.1B
$16.5M 0.24%
147,655
– –
LANV icon
23
Lanvin Group Holdings
LANV
$157M
$6.79M 0.1%
4,500,000
– –
PRE icon
24
Prenetics Global
PRE
$311M
$6.69M 0.1%
346,150
– –
GRAB icon
25
CALL
Grab
GRAB
$14.6B
$2.28M 0.03%
29,482,900
– –
1
2

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AG
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GAM
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CIA
Capital Investment Advisors Atlanta, Georgia $6.84B AUM 17.28% 1-Year Est. Return
PFA
Pure Financial Advisors San Diego, California $6.97B AUM 16.14% 1-Year Est. Return
RBI
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STA
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PS
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Aspex Management (HK)'s Q1 2026 Portfolio in Review

As of Q1 2026, Aspex Management (HK) held 30 positions worth $6.9B, up 40% from $4.94B the previous quarter. Its ten largest holdings account for 78% of the portfolio.

Aspex Management (HK) deployed $2.64B of net new capital in Q1 2026, opening 6 new positions and adding to 6 existing holdings. Its largest new stake was Carvana: 9,095,450 shares worth $572M.

By sector, the portfolio is most concentrated in Technology at 57% of assets, up from 52% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was Lumentum, an estimated $263M trimmed.

  • Aspex Management (HK)'s largest Q1 2026 buy was Carvana: 9,095,450 shares worth $572M.
  • Aspex Management (HK) added most to NVIDIA in Q1 2026, an estimated $422M increase.
  • Aspex Management (HK)'s biggest Q1 2026 reduction was Lumentum, cutting an estimated $263M.
  • Aspex Management (HK) fully exited Pinduoduo in Q1 2026, selling an estimated $353M.
  • Aspex Management (HK)'s ten largest holdings make up 78% of its $6.9B portfolio in Q1 2026.
  • Aspex Management (HK) opened 6 new positions and closed 1 in Q1 2026.
  • Aspex Management (HK)'s portfolio value rose 40% quarter-over-quarter to $6.9B.

Based on Aspex Management (HK)'s 13F filing for Q1 2026, filed 15 May 2026.