Aspex Management (HK) Ltd
Sector Allocation
- Technology54.8%$4.9B
- Consumer Discretionary24.8%$2.2B
- Financials8.4%$747.8M
- Industrials7.6%$671.5M
- Materials4.3%$377.4M
- Consumer Staples0.2%$15.0M
- Healthcare0.0%$15,000
AUM History
13fpro.ai/research/fund/aspex-management-hk-ltd-1768375
Conviction and streaks
Concentrating · top 10 = 80.3%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
SNPS
$1.4BQCOM
$1.2BMKSI
$809.7MCRWV
$792.4MCVNA
$716.9MCPNG
$660.6MSE
$466.7MFUTU
$428.6MGLW
$377.4MTER
$305.8MAS
$279.8MINIO
$271.0MNU
$217.6MEDU
$207.7MGRAB
$204.8MF
$165.3MQFIN
$101.5MTCOM
$92.8MLITE
$74.9MNIO
$66.5M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/aspex-management-hk-ltd-1768375
Aspex Management (HK) Ltd 13F holdings — Q2 2026
$8.9B portfolio (+28.9% QoQ) · 27 holdings · Q2 2026 13F · top 10 are 80% of the stock portfolio
Includes $18.3M of put/call options ($0 puts, $18.3M calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $8.9B. Weights use the stock portfolio.
$1.4B
15.7% of stocks
+17%This quarter+7.8%Since filed6 qtrsHeld$1.2B
13.3% of stocks
NewThis quarter+8.3%Since filedNew this quarterHeld$809.7M
9.1% of stocks
+18%This quarter-34.9%Since filed2 qtrsHeld$792.4M
8.9% of stocks
+12%This quarter-47.6%Since filed2 qtrsHeldAIQuality52.3#1,479Est. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row$716.9M
8.1% of stocks
+499%This quarter-25.1%Since filed2 qtrsHeld$660.6M
7.4% of stocks
+137%This quarter-14.7%Since filed2 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row$466.7M
5.3% of stocks
No changeThis quarter-39.3%Since filed10+ qtrsHeld$428.6M
4.8% of stocks
No changeThis quarter-3.7%Since filed10+ qtrsHeld$377.4M
4.3% of stocks
-42%This quarter-23.0%Since filed2 qtrsHeld$305.8M
3.5% of stocks
+25%This quarter-26.2%Since filed3 qtrsHeld
All holdings — Aspex Management (HK) Ltd (Q2 2026)
27 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | Amer Sports, Inc. | Consumer Discretionary | $279.8M | 3.1% | 8.27M | — | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 12 | INNIO N.V. | Technology | $271.0M | 3.0% | 6.85M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 13 | Nu Holdings Ltd. | Financials | $217.6M | 2.5% | 16.29M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 14 | New Oriental Education & Technology Group Inc.adr | Consumer Discretionary | $207.7M | 2.3% | 4.52M | -0.2% | 9 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | Grab Holdings Ltd | Industrials | $204.8M | 2.3% | 54.33M | -8% | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 16 | FORD MOTOR CO | Consumer Discretionary | $165.3M | 1.9% | 11.89M | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | Qfin Holdings, Inc. | Financials | $101.5M | 1.1% | 6.42M | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | Trip.com Group Ltdadr | Consumer Discretionary | $92.8M | 1.1% | 2.33M | — | 2 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | Lumentum Holdings Inc. | Technology | $74.9M | 0.8% | 87K | -57% | 3 qtrsTrimmed 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | NIO Inc.adr | Consumer Discretionary | $66.5M | 0.8% | 13.14M | — | 4 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | Pony AI Inc.adr | Technology | $28.8M | 0.3% | 4.14M | — | 7 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | NetEase, Inc.adr | Technology | $18.9M | 0.2% | 148K | — | 7 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | QUALCOMM INC/DE | Technology | $18.0M | — | 1.60M | New | — | — | 13F | |
| 24 | RLX Technology Inc.adr | Consumer Staples | $15.0M | 0.2% | 7.90M | — | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | Lanvin Group Holdings Ltd | Consumer Discretionary | $6.6M | 0.1% | 4.49M | -0.2% | 10+ qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $GRAB CALL | Grab Holdings Ltd | Industrials | $305K | — | 29.48M | — | |||
| 27 | $PRE | Prenetics Global Ltd | Healthcare | $15K | 0.0% | 1.17M | — |
What changed in Q2 2026
Against the previous quarter's 13F: 5 new, 6 added to, 5 trimmed, 5 sold out. Share-count changes; largest moves by dollar size first.
New positions (5)
Added to (6)
now $716.9M · held 2 qtrs, 2 adds in a row
now $660.6M · held 2 qtrs, 2 adds in a row
now $1.4B · held 6 qtrs, 6 adds in a row
now $809.7M · held 2 qtrs, 2 adds in a row
now $792.4M · held 2 qtrs, 2 adds in a row
now $305.8M · held 3 qtrs
Trimmed (5)
now $377.4M · held 2 qtrs
now $74.9M · held 3 qtrs, 2 trims in a row
now $204.8M · held 4 qtrs
now $207.7M · held 9 qtrs
$LANVLanvin Group Holdings Ltd-0.2%
now $6.6M · held 10+ qtrs
Holdings by quarter
Every 13F Aspex Management (HK) Ltd has filed, 26 earlier quarters. Pick one to see what it held then.
Is it too late to follow Aspex Management (HK) Ltd?
Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of Aspex Management (HK) Ltd's top 20 holdings: 65/100 (our AI quality score, weighted by position size; 13 of the 20 are scored)
Top 10 since filing
-15.4%
Value-weighted move of the 10 largest stock positions
Turnover
21%
Last quarter; 110% over the last 4
Top 10 weight
80%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
36%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
Aspex Management (HK) Ltd disclosed 27 positions worth $8.9B in its Form 13F-HR for Q2 2026 — $8.9B in common stock plus $18.3M of put/call option positions (reported at underlying notional value, not premium at risk), led by $SNPS (SYNOPSYS INC) at 15.7% of the equity portfolio, followed by $QCOM and $MKSI. During the quarter the fund opened 5 new positions and exited 5 — including a new stake in $QCOM and a full exit from $NVDA. The portfolio is most concentrated in Technology (54.8% of disclosed assets). All figures are sourced directly from Aspex Management (HK) Ltd’s Form 13F-HR filing with the SEC under CIK 1768375.
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