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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
+7.38%
1 Year Est. Return
+28.37%
3 Year Est. Return
+152.59%
5 Year Est. Return
+77.04%
10 Year Est. Return
–
AUM
$4.68B
AUM Growth
+$944M
Cap. Flow
+$690M
Cap. Flow %
14.74%
Top 10 Hldgs %
56.11%
Holding
41
New
6
Increased
11
Reduced
8
Closed
4

Top Buys

Rank Stock Value
1
EDU icon
New Oriental
EDU
+$264M
2
DELL icon
Dell
DELL
+$154M
3
WDC icon
Western Digital
WDC
+$150M
4
LI icon
Li Auto
LI
+$134M
5
TAL icon
TAL Education Group
TAL
+$134M

Top Sells

Rank Stock Value
1
SE icon
Sea Limited
SE
+$208M
2
MU icon
Micron Technology
MU
+$160M
3
QCOM icon
Qualcomm
QCOM
+$67.3M
4
TME icon
Tencent Music
TME
+$61M
5
COHR icon
Coherent
COHR
+$54.2M

Sector Composition

Rank Sector Weight
1 Technology 36.91%
2 Consumer Discretionary 27.32%
3 Financials 10.56%
4 Communication Services 9.4%
5 Consumer Staples 8.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MRVL icon
1
Marvell Technology
MRVL
$169B
$397M 8.48%
5,680,656
+242,992
+4% +$17M
TER icon
2
Teradyne
TER
$50.5B
$317M 6.78%
2,140,519
+380,885
+22% +$48.4M
SE icon
3
Sea Limited
SE
$63.7B
$306M 6.53%
4,282,103
-3,146,626
-42% -$208M
FUTU icon
4
Futu Holdings
FUTU
$13.3B
$292M 6.23%
4,444,804
+133,976
+3% +$9.06M
EDU icon
5
New Oriental
EDU
$7.82B
$252M 5.38%
+3,239,700
New +$264M
DELL icon
6
Dell
DELL
$256B
$241M 5.15%
1,746,643
+1,149,546
+193% +$154M
DASH icon
7
DoorDash
DASH
$80.2B
$223M 4.75%
2,045,852
+52,697
+3% +$6.35M
PDD icon
8
Pinduoduo
PDD
$120B
$204M 4.35%
1,531,867
+881,502
+136% +$119M
LVS icon
9
Las Vegas Sands
LVS
$30.1B
$199M 4.25%
4,491,788
+1,737,209
+63% +$81.1M
LRCX icon
10
Lam Research
LRCX
$392B
$197M 4.21%
1,849,610
-289,120
-14% -$27.7M
NTES icon
11
NetEase
NTES
$84.1B
$191M 4.07%
1,994,434
+490,730
+33% +$46.7M
TME icon
12
Tencent Music
TME
$14.9B
$189M 4.04%
13,474,261
-4,539,375
-25% -$61M
MU icon
13
Micron Technology
MU
$959B
$179M 3.82%
1,360,673
-1,266,516
-48% -$160M
QFIN icon
14
Qfin Holdings
QFIN
$1.55B
$156M 3.33%
7,905,491
-725,274
-8% -$14.2M
WDC icon
15
Western Digital
WDC
$164B
$155M 3.31%
+2,704,109
New +$150M
QCOM icon
16
Qualcomm
QCOM
$181B
$154M 3.29%
773,445
-356,490
-32% -$67.3M
LI icon
17
Li Auto
LI
$12.3B
$123M 2.62%
6,865,463
+5,565,463
+428% +$134M
FCX icon
18
Freeport-McMoran
FCX
$83.9B
$123M 2.62%
2,521,903
– –
TAL icon
19
TAL Education Group
TAL
$5.68B
$121M 2.59%
+11,351,592
New +$134M
ZTO icon
20
ZTO Express
ZTO
$18.2B
$108M 2.31%
5,215,204
-1,487,812
-22% -$32.5M
ATAT icon
21
Atour Lifestyle Holdings
ATAT
$4.38B
$101M 2.16%
5,500,687
+1,975,687
+56% +$35.7M
GDS icon
22
GDS Holdings
GDS
$6.24B
$81.5M 1.74%
8,773,031
– –
CART icon
23
Maplebear
CART
$10.8B
$78.4M 1.67%
+2,439,507
New +$84M
BZ icon
24
Kanzhun
BZ
$6.66B
$53.1M 1.13%
2,821,520
– –
HDB icon
25
HDFC Bank
HDB
$135B
$46.8M 1%
1,453,830
+652,500
+81% +$19.1M
1
2

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EDRH
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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 Q2 2024 Portfolio in Review

As of Q2 2024, Aspex Management (HK) held 41 positions worth $4.68B, up 25% from $3.74B the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Aspex Management (HK) deployed $690M of net new capital in Q2 2024, opening 6 new positions and adding to 11 existing holdings. Its largest new stake was New Oriental: 3,239,700 shares worth $252M.

By sector, the portfolio is most concentrated in Technology at 37% of assets, down from 40% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was Sea Limited, an estimated $208M trimmed.

  • Aspex Management (HK)'s largest Q2 2024 buy was New Oriental: 3,239,700 shares worth $252M.
  • Aspex Management (HK) added most to Dell in Q2 2024, an estimated $154M increase.
  • Aspex Management (HK)'s biggest Q2 2024 reduction was Sea Limited, cutting an estimated $208M.
  • Aspex Management (HK) fully exited Coherent in Q2 2024, selling an estimated $54.2M.
  • Aspex Management (HK)'s ten largest holdings make up 56% of its $4.68B portfolio in Q2 2024.
  • Aspex Management (HK) opened 6 new positions and closed 4 in Q2 2024.
  • Aspex Management (HK)'s portfolio value rose 25% quarter-over-quarter to $4.68B.

Based on Aspex Management (HK)'s 13F filing for Q2 2024, filed 14 Aug 2024.