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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
+4.42%
1 Year Est. Return
+28.37%
3 Year Est. Return
+152.59%
5 Year Est. Return
+77.04%
10 Year Est. Return
–
AUM
$3.27B
AUM Growth
+$268M
Cap. Flow
+$292M
Cap. Flow %
8.92%
Top 10 Hldgs %
79.41%
Holding
29
New
2
Increased
5
Reduced
3
Closed
3

Top Buys

Rank Stock Value
1
FUTU icon
Futu Holdings
FUTU
+$221M
2
BEKE icon
KE Holdings
BEKE
+$133M
3
FTCH
Farfetch Limited Class A Ordinary Shares
FTCH
+$111M
4
NTES icon
NetEase
NTES
+$35.7M
5
XPEV icon
XPeng
XPEV
+$31.6M

Top Sells

Rank Stock Value
1
LRCX icon
Lam Research
LRCX
+$150M
2
JD icon
JD.com
JD
+$55.4M
3
API
Agora
API
+$22.7M
4
BZ icon
Kanzhun
BZ
+$18.9M
5
HTHT icon
Huazhu Hotels Group
HTHT
+$17.5M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 34.59%
2 Technology 18.98%
3 Financials 12.92%
4 Communication Services 10.17%
5 Industrials 8.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XPEV icon
1
XPeng
XPEV
$11.8B
$442M 13.52%
8,782,275
+700,000
+9% +$31.6M
JD icon
2
JD.com
JD
$40.8B
$401M 12.26%
5,720,592
-700,000
-11% -$55.4M
GDS icon
3
GDS Holdings
GDS
$6.34B
$357M 10.92%
7,573,258
+500,000
+7% +$27.6M
NTES icon
4
NetEase
NTES
$76.5B
$333M 10.17%
3,268,863
+351,106
+12% +$35.7M
QFIN icon
5
Qfin Holdings
QFIN
$1.61B
$208M 6.37%
9,085,030
– –
MU icon
6
Micron Technology
MU
$1.04T
$187M 5.73%
2,011,217
– –
BEKE icon
7
KE Holdings
BEKE
$16.8B
$181M 5.54%
9,000,000
+6,500,000
+260% +$133M
FUTU icon
8
Futu Holdings
FUTU
$13.9B
$168M 5.12%
+3,868,521
New +$221M
ZTO icon
9
ZTO Express
ZTO
$18.2B
$166M 5.07%
5,870,575
+6,825
+0.1% +$204K
LI icon
10
Li Auto
LI
$12.6B
$154M 4.71%
4,800,000
– –
FTCH
11
DELISTED
Farfetch Limited Class A Ordinary Shares
FTCH
$101M 3.09%
+3,026,800
New +$111M
HTHT icon
12
Huazhu Hotels Group
HTHT
$12.4B
$93.3M 2.85%
2,498,717
-400,000
-14% -$17.5M
TSP
13
DELISTED
TuSimple Holdings Inc. Class A Common Stock
TSP
$76.1M 2.33%
2,121,626
– –
NFH
14
DELISTED
New Frontier Health Corporation Ordinary Shares
NFH
$46.8M 1.43%
4,081,250
– –
NIO icon
15
NIO
NIO
$11.3B
$34.2M 1.05%
1,079,000
– –
DDL
16
Dingdong
DDL
$529M
$32.6M 1%
2,014,786
-201,147
-9% -$4.52M
YSG
17
Yatsen Holding
YSG
$311M
$28.2M 0.86%
2,626,908
– –
RBOT
18
DELISTED
Vicarious Surgical
RBOT
$27.6M 0.84%
86,667
– –
ARTAU
19
DELISTED
Artisan Acquisition Corp. Units
ARTAU
$12.7M 0.39%
1,250,000
– –
OPA.U
20
DELISTED
Magnum Opus Acquisition Limited Units, each consisting of one Class A ordinary share and one-half redeemable warrant
OPA.U
$10.3M 0.32%
991,394
– –
EM
21
DELISTED
Smart Share Global Ltd
EM
$6.57M 0.2%
4,500,000
– –
NFH.WS
22
DELISTED
New Frontier Health Corporation Warrants, each whole warrant exercisable for one Ordinary Share at a
NFH.WS
$472K 0.01%
162,500
– –
API
23
Agora
API
$326M
– –
-783,455
Closed -$22.7M
BZ icon
24
Kanzhun
BZ
$6.89B
– –
-525,000
Closed -$18.9M
LRCX icon
25
Lam Research
LRCX
$382B
– –
-2,629,070
Closed -$150M

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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
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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 Q4 2021 Portfolio in Review

As of Q4 2021, Aspex Management (HK) held 29 positions worth $3.27B, up 8.9% from $3B the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Aspex Management (HK) deployed $292M of net new capital in Q4 2021, opening 2 new positions and adding to 5 existing holdings. Its largest new stake was Futu Holdings: 3,868,521 shares worth $168M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 35% of assets, down from 35% a quarter earlier, followed by Technology and Financials.

On the sell side, the largest reduction was JD.com, an estimated $55.4M trimmed.

  • Aspex Management (HK)'s largest Q4 2021 buy was Futu Holdings: 3,868,521 shares worth $168M.
  • Aspex Management (HK) added most to KE Holdings in Q4 2021, an estimated $133M increase.
  • Aspex Management (HK)'s biggest Q4 2021 reduction was JD.com, cutting an estimated $55.4M.
  • Aspex Management (HK) fully exited Lam Research in Q4 2021, selling an estimated $150M.
  • Aspex Management (HK)'s ten largest holdings make up 79% of its $3.27B portfolio in Q4 2021.
  • Aspex Management (HK) opened 2 new positions and closed 3 in Q4 2021.
  • Aspex Management (HK)'s portfolio value rose 8.9% quarter-over-quarter to $3.27B.

Based on Aspex Management (HK)'s 13F filing for Q4 2021, filed 14 Feb 2022.