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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
+17.26%
1 Year Est. Return
+28.37%
3 Year Est. Return
+152.59%
5 Year Est. Return
+77.04%
10 Year Est. Return
–
AUM
$3.41B
AUM Growth
+$163M
Cap. Flow
-$160M
Cap. Flow %
-4.69%
Top 10 Hldgs %
73.04%
Holding
37
New
7
Increased
4
Reduced
5
Closed
2

Top Buys

Rank Stock Value
1
MRVL icon
Marvell Technology
MRVL
+$157M
2
QCOM icon
Qualcomm
QCOM
+$114M
3
JD icon
JD.com
JD
+$107M
4
ZTO icon
ZTO Express
ZTO
+$83.1M
5
TME icon
Tencent Music
TME
+$70M

Top Sells

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$460M
2
NVDA icon
NVIDIA
NVDA
+$258M
3
LI icon
Li Auto
LI
+$186M
4
DASH icon
DoorDash
DASH
+$74.6M
5
FUTU icon
Futu Holdings
FUTU
+$66.7M

Sector Composition

Rank Sector Weight
1 Technology 47.47%
2 Consumer Discretionary 29.01%
3 Financials 6.36%
4 Communication Services 5.5%
5 Materials 3.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AMD icon
1
Advanced Micro Devices
AMD
$817B
$413M 12.09%
2,799,321
+533,212
+24% +$62.8M
MRVL icon
2
Marvell Technology
MRVL
$169B
$345M 10.1%
5,712,564
+2,908,912
+104% +$157M
MU icon
3
Micron Technology
MU
$964B
$344M 10.07%
4,027,348
– –
DASH icon
4
DoorDash
DASH
$81.2B
$306M 8.96%
3,092,446
-842,000
-21% -$74.6M
SE icon
5
Sea Limited
SE
$65.1B
$275M 8.05%
6,786,884
+800,000
+13% +$32.6M
PDD icon
6
Pinduoduo
PDD
$123B
$217M 6.36%
1,484,411
+350,000
+31% +$42.4M
LRCX icon
7
Lam Research
LRCX
$401B
$210M 6.15%
2,679,860
-148,850
-5% -$10.1M
QFIN icon
8
Qfin Holdings
QFIN
$1.56B
$137M 4%
8,630,765
– –
QCOM icon
9
Qualcomm
QCOM
$180B
$133M 3.91%
+923,033
New +$114M
JD icon
10
JD.com
JD
$40.1B
$114M 3.34%
+3,946,306
New +$107M
FCX icon
11
Freeport-McMoran
FCX
$84.2B
$107M 3.15%
2,521,903
– –
TME icon
12
Tencent Music
TME
$15.1B
$81.5M 2.39%
+9,050,138
New +$70M
FUTU icon
13
Futu Holdings
FUTU
$13.7B
$80.5M 2.36%
1,473,623
-1,173,558
-44% -$66.7M
GDS icon
14
GDS Holdings
GDS
$6.56B
$80M 2.34%
8,773,031
– –
ZTO icon
15
ZTO Express
ZTO
$18.7B
$77.9M 2.28%
+3,658,673
New +$83.1M
BEKE icon
16
KE Holdings
BEKE
$19.3B
$74.7M 2.19%
4,610,000
– –
ATAT icon
17
Atour Lifestyle Holdings
ATAT
$4.44B
$61.2M 1.79%
+3,525,000
New +$63.7M
NVDA icon
18
NVIDIA
NVDA
$5.02T
$60.4M 1.77%
1,219,730
-5,573,610
-82% -$258M
NTES icon
19
NetEase
NTES
$83.4B
$59.4M 1.74%
+637,124
New +$67.7M
BZ icon
20
Kanzhun
BZ
$6.77B
$46.9M 1.37%
2,821,520
– –
GRAB icon
21
Grab
GRAB
$15.3B
$27M 0.79%
8,000,000
– –
RLX icon
22
RLX Technology
RLX
$2.48B
$24.2M 0.71%
12,123,409
– –
LANV icon
23
Lanvin Group Holdings
LANV
$153M
$13.3M 0.39%
4,500,000
– –
YSG
24
Yatsen Holding
YSG
$347M
$9.61M 0.28%
2,626,908
– –
VNET
25
VNET Group
VNET
$2.2B
$8.51M 0.25%
2,964,552
– –
1
2

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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 Q4 2023 Portfolio in Review

As of Q4 2023, Aspex Management (HK) held 37 positions worth $3.41B, up 5% from $3.25B the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Aspex Management (HK) withdrew a net $160M in Q4 2023, closing 2 positions and reducing 5 holdings. Its most notable exit was Alibaba, an estimated $460M position sold in full.

By sector, the portfolio is most concentrated in Technology at 47% of assets, up from 39% a quarter earlier, followed by Consumer Discretionary and Financials.

Against the trend, Aspex Management (HK) opened a new position in Qualcomm worth $133M.

  • Aspex Management (HK)'s largest Q4 2023 buy was Qualcomm: 923,033 shares worth $133M.
  • Aspex Management (HK) added most to Marvell Technology in Q4 2023, an estimated $157M increase.
  • Aspex Management (HK)'s biggest Q4 2023 reduction was NVIDIA, cutting an estimated $258M.
  • Aspex Management (HK) fully exited Alibaba in Q4 2023, selling an estimated $460M.
  • Aspex Management (HK)'s ten largest holdings make up 73% of its $3.41B portfolio in Q4 2023.
  • Aspex Management (HK) opened 7 new positions and closed 2 in Q4 2023.
  • Aspex Management (HK)'s portfolio value rose 5% quarter-over-quarter to $3.41B.

Based on Aspex Management (HK)'s 13F filing for Q4 2023, filed 14 Feb 2024.