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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
-1.15%
1 Year Est. Return
+28.37%
3 Year Est. Return
+152.59%
5 Year Est. Return
+77.04%
10 Year Est. Return
–
AUM
$722M
AUM Growth
+$172M
(+31%)
Cap. Flow
+$246M
Cap. Flow
% of AUM
34.1%
Top 10 Holdings %
Top 10 Hldgs %
84.45%
Holding
19
New
7
Increased
5
Reduced
3
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
GDS Holdings
GDS
|
+$62.5M |
| 2 |
Pinduoduo
PDD
|
+$60.2M |
| 3 |
Micron Technology
MU
|
+$48.4M |
| 4 |
Las Vegas Sands
LVS
|
+$44.3M |
| 5 |
Tesla
TSLA
|
+$24.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sea Limited
SE
|
+$73.3M |
| 2 |
ATVI
Activision Blizzard
ATVI
|
+$53.5M |
| 3 |
Gaotu Techedu
GOTU
|
+$19.7M |
| 4 |
Huazhu Hotels Group
HTHT
|
+$10.8M |
| 5 |
ZTO Express
ZTO
|
+$2.29M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 50.26% |
| 2 | Technology | 16.98% |
| 3 | Financials | 13.23% |
| 4 | Industrials | 5.03% |
| 5 | Healthcare | 2.63% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
JD.com
JD
$40.8B
| $189M | 26.18% |
4,668,172
+327,811
| +8% | +$13.1M |
|
2
PUT
VanEck Semiconductor ETF
SMH
$67.6B
| $85.5M | 11.84% |
+1,460,000
| New | +$98.4M |
|
|
3
GDS Holdings
GDS
$6.34B
| $65M | 9% |
+1,121,174
| New | +$62.5M |
|
|
4
Pinduoduo
PDD
$118B
| $59.5M | 8.24% |
+1,650,420
| New | +$60.2M |
|
|
5
Micron Technology
MU
$1.04T
| $39.2M | 5.43% |
+931,500
| New | +$48.4M |
|
6
Qfin Holdings
QFIN
$1.61B
| $38.9M | 5.39% |
4,863,827
+1,577,497
| +48% | +$13.5M |
|
|
7
ZTO Express
ZTO
$18.2B
| $36.3M | 5.03% |
1,371,478
-94,358
| -6% | -$2.29M |
|
|
NFH
8
DELISTED
New Frontier Health Corporation Ordinary Shares
NFH
| $33.7M | 4.66% |
4,081,250
+1,350,000
| +49% | +$12.3M |
|
|
GOOS
9
Canada Goose Holdings
GOOS
$868M
| $31.6M | 4.38% |
1,590,251
+369,950
| +30% | +$10.4M |
|
|
10
Las Vegas Sands
LVS
$30.5B
| $31M | 4.3% |
+730,875
| New | +$44.3M |
|
|
11
Huazhu Hotels Group
HTHT
$12.4B
| $30.8M | 4.26% |
1,070,538
-318,825
| -23% | -$10.8M |
|
|
LX
12
LexinFintech Holdings
LX
$244M
| $23M | 3.18% |
2,587,435
+211,193
| +9% | +$2.61M |
|
|
13
Tesla
TSLA
$1.24T
| $21M | 2.9% |
+600,000
| New | +$24.9M |
|
|
SY
14
So-Young International
SY
$194M
| $19M | 2.63% |
1,857,187
-84,029
| -4% | -$1.02M |
|
|
VNET
15
VNET Group
VNET
$2.05B
| $18.5M | 2.56% |
+1,331,816
| New | +$16.3M |
|
|
NFH.WS
16
DELISTED
New Frontier Health Corporation Warrants, each whole warrant exercisable for one Ordinary Share at a
NFH.WS
| $154K | 0.02% |
162,500
| – | – |
|
|
17
Gaotu Techedu
GOTU
$372M
| – | – |
-899,992
| Closed | -$19.7M |
|
|
18
Sea Limited
SE
$61.2B
| – | – |
-1,823,151
| Closed | -$73.3M |
|
|
ATVI
19
DELISTED
Activision Blizzard
ATVI
| – | – |
-901,045
| Closed | -$53.5M |
|
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PS
Aspex Management (HK)'s Q1 2020 Portfolio in Review
As of Q1 2020, Aspex Management (HK) held 19 positions worth $722M, up 31% from $550M the previous quarter. Its ten largest holdings account for 84% of the portfolio.
Aspex Management (HK) deployed $246M of net new capital in Q1 2020, opening 7 new positions and adding to 5 existing holdings. Its largest new stake was GDS Holdings: 1,121,174 shares worth $65M.
By sector, the portfolio is most concentrated in Consumer Discretionary at 50% of assets, down from 59% a quarter earlier, followed by Technology and Financials.
On the sell side, the largest reduction was Huazhu Hotels Group, an estimated $10.8M trimmed.
- Aspex Management (HK)'s largest Q1 2020 buy was GDS Holdings: 1,121,174 shares worth $65M.
- Aspex Management (HK) added most to Qfin Holdings in Q1 2020, an estimated $13.5M increase.
- Aspex Management (HK)'s biggest Q1 2020 reduction was Huazhu Hotels Group, cutting an estimated $10.8M.
- Aspex Management (HK) fully exited Sea Limited in Q1 2020, selling an estimated $73.3M.
- Aspex Management (HK)'s ten largest holdings make up 84% of its $722M portfolio in Q1 2020.
- Aspex Management (HK) opened 7 new positions and closed 3 in Q1 2020.
- Aspex Management (HK)'s portfolio value rose 31% quarter-over-quarter to $722M.
Based on Aspex Management (HK)'s 13F filing for Q1 2020, filed 15 May 2020.