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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
+14.08%
1 Year Est. Return
+28.37%
3 Year Est. Return
+152.59%
5 Year Est. Return
+77.04%
10 Year Est. Return
–
AUM
$4.6B
AUM Growth
+$712M
Cap. Flow
+$1.43B
Cap. Flow %
31.09%
Top 10 Hldgs %
80.99%
Holding
33
New
3
Increased
9
Reduced
5
Closed
5

Top Buys

Rank Stock Value
1
MRVL icon
Marvell Technology
MRVL
+$262M
2
SNPS icon
Synopsys
SNPS
+$155M
3
INTC icon
Intel
INTC
+$116M
4
YMM icon
Full Truck Alliance
YMM
+$84.3M
5
TAL icon
TAL Education Group
TAL
+$76.3M

Top Sells

Rank Stock Value
1
MU icon
Micron Technology
MU
+$176M
2
CDNS icon
Cadence Design Systems
CDNS
+$145M
3
TSM icon
TSMC
TSM
+$118M
4
BEKE icon
KE Holdings
BEKE
+$103M
5
SE icon
Sea Limited
SE
+$96.6M

Sector Composition

Rank Sector Weight
1 Technology 37.72%
2 Consumer Discretionary 30.45%
3 Financials 15.35%
4 Consumer Staples 13.63%
5 Communication Services 0.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LANV.WS
26
DELISTED
Lanvin Group Holdings Warrants
LANV.WS
$19K ﹤0.01%
1,000,000
– –
BEKE icon
27
KE Holdings
BEKE
$19.3B
– –
-5,126,453
Closed -$103M
CDNS icon
28
Cadence Design Systems
CDNS
$91B
– –
-569,333
Closed -$145M
LI icon
29
Li Auto
LI
$12.3B
– –
-643,708
Closed -$16.2M
MU icon
30
Micron Technology
MU
$959B
– –
-2,020,350
Closed -$176M
FLUT icon
31
Flutter Entertainment
FLUT
$18.5B
– –
-104,210
Closed -$23.1M
1
2

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AG
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GAM
Groupama Asset Management Paris, France $6.85B AUM 43.37% 1-Year Est. Return
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 Q2 2025 Portfolio in Review

As of Q2 2025, Aspex Management (HK) held 33 positions worth $4.6B, up 18% from $3.89B the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Aspex Management (HK) deployed $1.43B of net new capital in Q2 2025, opening 3 new positions and adding to 9 existing holdings. Its largest new stake was Marvell Technology: 4,195,561 shares worth $325M.

By sector, the portfolio is most concentrated in Technology at 38% of assets, up from 33% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was TSMC, an estimated $118M trimmed.

  • Aspex Management (HK)'s largest Q2 2025 buy was Marvell Technology: 4,195,561 shares worth $325M.
  • Aspex Management (HK) added most to Synopsys in Q2 2025, an estimated $155M increase.
  • Aspex Management (HK)'s biggest Q2 2025 reduction was TSMC, cutting an estimated $118M.
  • Aspex Management (HK) fully exited Micron Technology in Q2 2025, selling an estimated $176M.
  • Aspex Management (HK)'s ten largest holdings make up 81% of its $4.6B portfolio in Q2 2025.
  • Aspex Management (HK) opened 3 new positions and closed 5 in Q2 2025.
  • Aspex Management (HK)'s portfolio value rose 18% quarter-over-quarter to $4.6B.

Based on Aspex Management (HK)'s 13F filing for Q2 2025, filed 13 Aug 2025.