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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
+14.86%
1 Year Est. Return
+28.37%
3 Year Est. Return
+152.59%
5 Year Est. Return
+77.04%
10 Year Est. Return
–
AUM
$3.05B
AUM Growth
+$528M
Cap. Flow
+$259M
Cap. Flow %
8.48%
Top 10 Hldgs %
81.88%
Holding
28
New
7
Increased
3
Reduced
3
Closed
4

Top Buys

Rank Stock Value
1
JD icon
JD.com
JD
+$198M
2
GDS icon
GDS Holdings
GDS
+$157M
3
TSP
TuSimple Holdings Inc. Class A Common Stock
TSP
+$91.3M
4
YSG
Yatsen Holding
YSG
+$78.1M
5
DDL
Dingdong
DDL
+$68.5M

Top Sells

Rank Stock Value
1
PDD icon
Pinduoduo
PDD
+$131M
2
XPEV icon
XPeng
XPEV
+$124M
3
NIO icon
NIO
NIO
+$40.1M
4
ZH
Zhihu
ZH
+$31.6M
5
QFIN icon
Qfin Holdings
QFIN
+$23.5M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 39.15%
2 Technology 29.85%
3 Financials 12.98%
4 Consumer Staples 6.52%
5 Real Estate 3.9%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JD icon
1
JD.com
JD
$40.1B
$519M 17%
6,505,692
+2,631,900
+68% +$198M
GDS icon
2
GDS Holdings
GDS
$6.56B
$418M 13.7%
5,329,558
+2,027,265
+61% +$157M
XPEV icon
3
XPeng
XPEV
$13.4B
$355M 11.64%
8,000,000
-3,629,425
-31% -$124M
QFIN icon
4
Qfin Holdings
QFIN
$1.56B
$351M 11.49%
8,385,030
-772,603
-8% -$23.5M
LRCX icon
5
Lam Research
LRCX
$401B
$171M 5.6%
2,629,070
– –
MU icon
6
Micron Technology
MU
$964B
$171M 5.6%
2,011,217
– –
TSP
7
DELISTED
TuSimple Holdings Inc. Class A Common Stock
TSP
$151M 4.95%
+2,121,626
New +$91.3M
LI icon
8
Li Auto
LI
$12.8B
$140M 4.58%
4,000,000
– –
BEKE icon
9
KE Holdings
BEKE
$19.3B
$119M 3.9%
2,500,000
– –
YSG
10
Yatsen Holding
YSG
$347M
$104M 3.42%
2,226,908
+1,511,571
+211% +$78.1M
HTHT icon
11
Huazhu Hotels Group
HTHT
$13.1B
$96.3M 3.15%
1,823,523
– –
DDL
12
Dingdong
DDL
$507M
$84.9M 2.78%
+2,215,933
New +$68.5M
NIO icon
13
NIO
NIO
$12.5B
$57.4M 1.88%
1,079,000
-1,000,000
-48% -$40.1M
NFH
14
DELISTED
New Frontier Health Corporation Ordinary Shares
NFH
$45.6M 1.49%
4,081,250
– –
DIDI
15
DELISTED
DiDi Global Inc. American depositary shares, each four representing one Class A ordinary share
DIDI
$28.3M 0.93%
+2,000,000
New +$28.3M
EM
16
DELISTED
Smart Share Global Ltd
EM
$27.3M 0.89%
+4,500,000
New +$31.9M
BZ icon
17
Kanzhun
BZ
$6.77B
$20.8M 0.68%
+525,000
New +$20.2M
ARTAU
18
DELISTED
Artisan Acquisition Corp. Units
ARTAU
$12.4M 0.41%
+1,250,000
New +$12.5M
OPA.U
19
DELISTED
Magnum Opus Acquisition Limited Units, each consisting of one Class A ordinary share and one-half redeemable warrant
OPA.U
$9.94M 0.33%
991,394
– –
OTLY
20
Oatly Group
OTLY
$312M
$9.78M 0.32%
+20,000
New +$9.94M
NFH.WS
21
DELISTED
New Frontier Health Corporation Warrants, each whole warrant exercisable for one Ordinary Share at a
NFH.WS
$427K 0.01%
162,500
– –
EDU icon
22
New Oriental
EDU
$7.87B
– –
-76,267
Closed -$10.7M
PDD icon
23
Pinduoduo
PDD
$123B
– –
-976,900
Closed -$131M
ZH
24
Zhihu
ZH
$277M
– –
-650,000
Closed -$31.6M

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AG
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GAM
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CIA
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PFA
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RBI
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STA
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PS
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Aspex Management (HK)'s Q2 2021 Portfolio in Review

As of Q2 2021, Aspex Management (HK) held 28 positions worth $3.05B, up 21% from $2.53B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Aspex Management (HK) deployed $259M of net new capital in Q2 2021, opening 7 new positions and adding to 3 existing holdings. Its largest new stake was TuSimple Holdings Inc. Class A Common Stock: 2,121,626 shares worth $151M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 39% of assets, down from 46% a quarter earlier, followed by Technology and Financials.

On the sell side, the largest reduction was XPeng, an estimated $124M trimmed.

  • Aspex Management (HK)'s largest Q2 2021 buy was TuSimple Holdings Inc. Class A Common Stock: 2,121,626 shares worth $151M.
  • Aspex Management (HK) added most to JD.com in Q2 2021, an estimated $198M increase.
  • Aspex Management (HK)'s biggest Q2 2021 reduction was XPeng, cutting an estimated $124M.
  • Aspex Management (HK) fully exited Pinduoduo in Q2 2021, selling an estimated $131M.
  • Aspex Management (HK)'s ten largest holdings make up 82% of its $3.05B portfolio in Q2 2021.
  • Aspex Management (HK) opened 7 new positions and closed 4 in Q2 2021.
  • Aspex Management (HK)'s portfolio value rose 21% quarter-over-quarter to $3.05B.

Based on Aspex Management (HK)'s 13F filing for Q2 2021, filed 13 Aug 2021.