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
+0.11%
1 Year Est. Return
+28.37%
3 Year Est. Return
+152.59%
5 Year Est. Return
+77.04%
10 Year Est. Return
–
AUM
$4.94B
AUM Growth
+$219M
Cap. Flow
+$668M
Cap. Flow %
13.51%
Top 10 Hldgs %
85.3%
Holding
29
New
3
Increased
4
Reduced
6
Closed
5

Top Buys

Rank Stock Value
1
NVDA icon
NVIDIA
NVDA
+$535M
2
SNPS icon
Synopsys
SNPS
+$270M
3
TER icon
Teradyne
TER
+$177M
4
LITE icon
Lumentum
LITE
+$175M
5
FUTU icon
Futu Holdings
FUTU
+$158M

Top Sells

Rank Stock Value
1
DASH icon
DoorDash
DASH
+$197M
2
CRS icon
Carpenter Technology
CRS
+$136M
3
SE icon
Sea Limited
SE
+$136M
4
NIO icon
NIO
NIO
+$135M
5
LRCX icon
Lam Research
LRCX
+$53.5M

Sector Composition

Rank Sector Weight
1 Technology 52.18%
2 Consumer Discretionary 25.95%
3 Financials 13.7%
4 Consumer Staples 6.08%
5 Communication Services 0.41%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SNPS icon
1
Synopsys
SNPS
$73.6B
$999M 20.2%
2,126,089
+608,507
+40% +$270M
FUTU icon
2
Futu Holdings
FUTU
$13.3B
$554M 11.2%
3,371,597
+919,724
+38% +$158M
NVDA icon
3
NVIDIA
NVDA
$4.91T
$536M 10.84%
+2,873,869
New +$535M
SE icon
4
Sea Limited
SE
$63.7B
$430M 8.7%
3,373,016
-918,353
-21% -$136M
PDD icon
5
Pinduoduo
PDD
$120B
$353M 7.13%
3,109,525
-62,808
-2% -$7.8M
AS icon
6
Amer Sports
AS
$21.2B
$284M 5.74%
7,593,627
+1,658,536
+28% +$56.9M
GRAB icon
7
Grab
GRAB
$14.6B
$279M 5.64%
55,864,875
+27,480,364
+97% +$152M
EDU icon
8
New Oriental
EDU
$7.82B
$277M 5.59%
5,024,985
-854,378
-15% -$46.8M
YMM icon
9
Full Truck Alliance
YMM
$9.48B
$255M 5.16%
23,763,953
– –
LITE icon
10
Lumentum
LITE
$57B
$251M 5.09%
+681,959
New +$175M
TER icon
11
Teradyne
TER
$50.5B
$200M 4.04%
+1,031,838
New +$177M
ATAT icon
12
Atour Lifestyle Holdings
ATAT
$4.38B
$140M 2.84%
3,557,795
-870,988
-20% -$34.1M
QFIN icon
13
Qfin Holdings
QFIN
$1.55B
$124M 2.5%
6,422,510
-94,224
-1% -$2.12M
NIO icon
14
NIO
NIO
$12.2B
$67M 1.36%
13,141,609
-21,858,391
-62% -$135M
PONY
15
Pony AI Inc
PONY
$2.89B
$60M 1.21%
4,140,447
– –
NTES icon
16
NetEase
NTES
$84.1B
$20.3M 0.41%
147,655
– –
GRAB icon
17
CALL
Grab
GRAB
$14.6B
$18.7M 0.38%
29,482,900
– –
RLX icon
18
RLX Technology
RLX
$2.51B
$18.4M 0.37%
7,901,172
– –
LANV icon
19
Lanvin Group Holdings
LANV
$157M
$9.04M 0.18%
4,500,000
– –
PRE icon
20
Prenetics Global
PRE
$311M
$5.45M 0.11%
346,150
– –
RBOT
21
DELISTED
Vicarious Surgical
RBOT
$188K ﹤0.01%
86,666
– –
PRENW
22
Prenetics Global Ltd Warrant
PRENW
$226K
$35K ﹤0.01%
1,166,666
– –
LANV.WS
23
DELISTED
Lanvin Group Holdings Warrants
LANV.WS
$16K ﹤0.01%
1,000,000
– –
BIDU icon
24
Baidu
BIDU
$36.5B
– –
-368,351
Closed -$48.5M
CRS icon
25
Carpenter Technology
CRS
$27.7B
– –
-554,758
Closed -$136M
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 Q4 2025 Portfolio in Review

As of Q4 2025, Aspex Management (HK) held 29 positions worth $4.94B, up 4.6% from $4.72B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Aspex Management (HK) deployed $668M of net new capital in Q4 2025, opening 3 new positions and adding to 4 existing holdings. Its largest new stake was NVIDIA: 2,873,869 shares worth $536M.

By sector, the portfolio is most concentrated in Technology at 52% of assets, up from 29% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was Sea Limited, an estimated $136M trimmed.

  • Aspex Management (HK)'s largest Q4 2025 buy was NVIDIA: 2,873,869 shares worth $536M.
  • Aspex Management (HK) added most to Synopsys in Q4 2025, an estimated $270M increase.
  • Aspex Management (HK)'s biggest Q4 2025 reduction was Sea Limited, cutting an estimated $136M.
  • Aspex Management (HK) fully exited DoorDash in Q4 2025, selling an estimated $197M.
  • Aspex Management (HK)'s ten largest holdings make up 85% of its $4.94B portfolio in Q4 2025.
  • Aspex Management (HK) opened 3 new positions and closed 5 in Q4 2025.
  • Aspex Management (HK)'s portfolio value rose 4.6% quarter-over-quarter to $4.94B.

Based on Aspex Management (HK)'s 13F filing for Q4 2025, filed 13 Feb 2026.