We are live on ! Find out more
AMH

Aspex Management (HK) Portfolio holdings

AUM $6.9B
1-Year Est. Return 28.37%
This Fund
S&P 500
This Quarter Est. Return
+4.58%
1 Year Est. Return
+28.37%
3 Year Est. Return
+152.59%
5 Year Est. Return
+77.04%
10 Year Est. Return
–
AUM
$3.89B
AUM Growth
+$189M
Cap. Flow
+$401M
Cap. Flow %
10.3%
Top 10 Hldgs %
73.21%
Holding
38
New
6
Increased
4
Reduced
8
Closed
8

Top Buys

Rank Stock Value
1
TSM icon
TSMC
TSM
+$360M
2
DECK icon
Deckers Outdoor
DECK
+$263M
3
CDNS icon
Cadence Design Systems
CDNS
+$158M
4
SNPS icon
Synopsys
SNPS
+$152M
5
INTC icon
Intel
INTC
+$149M

Top Sells

Rank Stock Value
1
TER icon
Teradyne
TER
+$407M
2
LI icon
Li Auto
LI
+$176M
3
JD icon
JD.com
JD
+$93.6M
4
EDU icon
New Oriental
EDU
+$81.2M
5
ELF icon
e.l.f. Beauty
ELF
+$73.6M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 34.71%
2 Technology 33.33%
3 Financials 13.22%
4 Consumer Staples 12.66%
5 Real Estate 2.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SE icon
1
Sea Limited
SE
$61.2B
$763M 19.62%
5,848,206
+952,391
+19% +$118M
TSM icon
2
TSMC
TSM
$2.09T
$396M 10.17%
2,382,650
+1,851,302
+348% +$360M
FUTU icon
3
Futu Holdings
FUTU
$13.9B
$287M 7.37%
2,802,225
-83,704
-3% -$8.57M
EDU icon
4
New Oriental
EDU
$7.84B
$281M 7.22%
5,874,472
-1,580,434
-21% -$81.2M
QFIN icon
5
Qfin Holdings
QFIN
$1.61B
$227M 5.85%
5,065,054
-1,306,754
-21% -$54.1M
YMM icon
6
Full Truck Alliance
YMM
$9.56B
$194M 4.99%
15,208,627
– –
TAL icon
7
TAL Education Group
TAL
$5.71B
$188M 4.82%
14,197,819
+3,642,089
+35% +$45.4M
DECK icon
8
Deckers Outdoor
DECK
$13.3B
$182M 4.67%
+1,625,641
New +$263M
MU icon
9
Micron Technology
MU
$1.04T
$176M 4.51%
2,020,350
+515,411
+34% +$49.5M
INTC icon
10
Intel
INTC
$466B
$155M 3.97%
+6,804,813
New +$149M
CDNS icon
11
Cadence Design Systems
CDNS
$90B
$145M 3.72%
+569,333
New +$158M
SNPS icon
12
Synopsys
SNPS
$71.5B
$134M 3.46%
+313,531
New +$152M
DASH icon
13
DoorDash
DASH
$75.3B
$132M 3.41%
724,740
-230,666
-24% -$43.4M
ATAT icon
14
Atour Lifestyle Holdings
ATAT
$4.35B
$128M 3.29%
4,510,636
– –
BEKE icon
15
KE Holdings
BEKE
$16.8B
$103M 2.65%
5,126,453
-1,388,010
-21% -$27.5M
TCOM icon
16
Trip.com Group
TCOM
$27.5B
$94.8M 2.44%
1,491,643
-380,890
-20% -$24.9M
GDS icon
17
GDS Holdings
GDS
$6.34B
$76.2M 1.96%
3,009,876
-1,916,851
-39% -$58.1M
FLUT icon
18
Flutter Entertainment
FLUT
$17.6B
$23.1M 0.59%
+104,210
New +$27M
RLX icon
19
RLX Technology
RLX
$2.48B
$22.8M 0.59%
12,123,409
– –
PONY
20
Pony AI Inc
PONY
$3.1B
$21M 0.54%
2,375,666
– –
INTC icon
21
CALL
Intel
INTC
$466B
$17.8M 0.46%
+12,542,058
New +$274M
LI icon
22
Li Auto
LI
$12.6B
$16.2M 0.42%
643,708
-6,837,163
-91% -$176M
NTES icon
23
NetEase
NTES
$76.5B
$15.2M 0.39%
147,655
– –
LANV icon
24
Lanvin Group Holdings
LANV
$142M
$10.8M 0.28%
4,500,000
– –
PRE icon
25
Prenetics Global
PRE
$319M
$1.36M 0.03%
346,150
– –
1
2

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 Q1 2025 Portfolio in Review

As of Q1 2025, Aspex Management (HK) held 38 positions worth $3.89B, up 5.1% from $3.7B the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Aspex Management (HK) deployed $401M of net new capital in Q1 2025, opening 6 new positions and adding to 4 existing holdings. Its largest new stake was Deckers Outdoor: 1,625,641 shares worth $182M.

By sector, the portfolio is most concentrated in Consumer Discretionary at 35% of assets, up from 33% a quarter earlier, followed by Technology and Financials.

On the sell side, the largest reduction was Li Auto, an estimated $176M trimmed.

  • Aspex Management (HK)'s largest Q1 2025 buy was Deckers Outdoor: 1,625,641 shares worth $182M.
  • Aspex Management (HK) added most to TSMC in Q1 2025, an estimated $360M increase.
  • Aspex Management (HK)'s biggest Q1 2025 reduction was Li Auto, cutting an estimated $176M.
  • Aspex Management (HK) fully exited Teradyne in Q1 2025, selling an estimated $407M.
  • Aspex Management (HK)'s ten largest holdings make up 73% of its $3.89B portfolio in Q1 2025.
  • Aspex Management (HK) opened 6 new positions and closed 8 in Q1 2025.
  • Aspex Management (HK)'s portfolio value rose 5.1% quarter-over-quarter to $3.89B.

Based on Aspex Management (HK)'s 13F filing for Q1 2025, filed 14 May 2025.