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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
+41.01%
1 Year Est. Return
+28.37%
3 Year Est. Return
+152.59%
5 Year Est. Return
+77.04%
10 Year Est. Return
–
AUM
$815M
AUM Growth
+$93M
Cap. Flow
-$120M
Cap. Flow %
-14.67%
Top 10 Hldgs %
97.34%
Holding
20
New
4
Increased
3
Reduced
3
Closed
7

Top Buys

Rank Stock Value
1
GDS icon
GDS Holdings
GDS
+$95.8M
2
LRCX icon
Lam Research
LRCX
+$90.9M
3
MLCO icon
Melco Resorts & Entertainment
MLCO
+$14M
4
SE icon
Sea Limited
SE
+$13.6M
5
QFIN icon
Qfin Holdings
QFIN
+$9.73M

Top Sells

Rank Stock Value
1
PDD icon
Pinduoduo
PDD
+$59.5M
2
JD icon
JD.com
JD
+$46.8M
3
MU icon
Micron Technology
MU
+$39.2M
4
LVS icon
Las Vegas Sands
LVS
+$31M
5
LX
LexinFintech Holdings
LX
+$23M

Sector Composition

Rank Sector Weight
1 Technology 44.23%
2 Consumer Discretionary 38.02%
3 Financials 11.94%
4 Industrials 4.82%
5 Healthcare 0.97%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JD icon
1
JD.com
JD
$40.1B
$225M 27.65%
3,744,701
-923,471
-20% -$46.8M
GDS icon
2
GDS Holdings
GDS
$6.56B
$213M 26.08%
2,668,401
+1,547,227
+138% +$95.8M
LRCX icon
3
Lam Research
LRCX
$401B
$108M 13.23%
+3,334,760
New +$90.9M
QFIN icon
4
Qfin Holdings
QFIN
$1.56B
$63.5M 7.79%
5,931,777
+1,067,950
+22% +$9.73M
VNET
5
VNET Group
VNET
$2.2B
$40.1M 4.92%
1,679,516
+347,700
+26% +$5.61M
ZTO icon
6
ZTO Express
ZTO
$18.7B
$39.3M 4.82%
1,070,478
-301,000
-22% -$9.6M
GOOS
7
Canada Goose Holdings
GOOS
$970M
$36.8M 4.52%
1,590,251
– –
NFH
8
DELISTED
New Frontier Health Corporation Ordinary Shares
NFH
$33.8M 4.15%
4,081,250
– –
SE icon
9
Sea Limited
SE
$65.1B
$20.1M 2.47%
+187,413
New +$13.6M
MLCO icon
10
Melco Resorts & Entertainment
MLCO
$2.1B
$14.1M 1.73%
+906,029
New +$14M
HTHT icon
11
Huazhu Hotels Group
HTHT
$13.1B
$13.5M 1.66%
385,832
-684,706
-64% -$22.8M
BNR
12
Burning Rock Biotech
BNR
$101M
$7.9M 0.97%
+29,242
New +$8.02M
NFH.WS
13
DELISTED
New Frontier Health Corporation Warrants, each whole warrant exercisable for one Ordinary Share at a
NFH.WS
$221K 0.03%
162,500
– –
LVS icon
14
Las Vegas Sands
LVS
$30.3B
– –
-730,875
Closed -$31M
LX
15
LexinFintech Holdings
LX
$250M
– –
-2,587,435
Closed -$23M
MU icon
16
Micron Technology
MU
$964B
– –
-931,500
Closed -$39.2M
PDD icon
17
Pinduoduo
PDD
$123B
– –
-1,650,420
Closed -$59.5M
SMH icon
18
PUT
VanEck Semiconductor ETF
SMH
$67.5B
– –
-1,460,000
Closed -$85.5M
SY
19
So-Young International
SY
$170M
– –
-1,857,187
Closed -$19M
TSLA icon
20
Tesla
TSLA
$1.47T
– –
-600,000
Closed -$21M

Similar funds

EDRH
Edmond de Rothschild Holding Chambesy, Switzerland $6.91B AUM 19.7% 1-Year Est. Return
AG
AIA Group Hong Kong $6.88B AUM 20.97% 1-Year Est. Return
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
Raiffeisen Bank International Vienna, Austria $6.97B AUM 29.39% 1-Year Est. Return
STA
Summit Trail Advisors New York $6.98B AUM 19.51% 1-Year Est. Return
PS
Principal Securities Des Moines, Iowa $6.82B AUM 17.15% 1-Year Est. Return

Aspex Management (HK)'s Q2 2020 Portfolio in Review

As of Q2 2020, Aspex Management (HK) held 20 positions worth $815M, up 13% from $722M the previous quarter. Its ten largest holdings account for 97% of the portfolio.

Aspex Management (HK) withdrew a net $120M in Q2 2020, closing 7 positions and reducing 3 holdings. Its most notable exit was Pinduoduo, an estimated $59.5M position sold in full.

By sector, the portfolio is most concentrated in Technology at 44% of assets, up from 17% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Aspex Management (HK) opened a new position in Lam Research worth $108M.

  • Aspex Management (HK)'s largest Q2 2020 buy was Lam Research: 3,334,760 shares worth $108M.
  • Aspex Management (HK) added most to GDS Holdings in Q2 2020, an estimated $95.8M increase.
  • Aspex Management (HK)'s biggest Q2 2020 reduction was JD.com, cutting an estimated $46.8M.
  • Aspex Management (HK) fully exited Pinduoduo in Q2 2020, selling an estimated $59.5M.
  • Aspex Management (HK)'s ten largest holdings make up 97% of its $815M portfolio in Q2 2020.
  • Aspex Management (HK) opened 4 new positions and closed 7 in Q2 2020.
  • Aspex Management (HK)'s portfolio value rose 13% quarter-over-quarter to $815M.

Based on Aspex Management (HK)'s 13F filing for Q2 2020, filed 14 Aug 2020.