Aspex Management (HK) Ltd

Q3 2025 13F-HR Holdings

Location
Central, K3
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
26
Total value ($000)
$4,723,919
Net value change ($000)
+122,753 (2.7%)
New positions
7
Sold out positions
7
Turnover %
62.8%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/13/2025 Next filing: 2/13/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
PDD 419,287 NEW
SNPS 417,623 126.1%
NIO 266,700 NEW
AS 206,244 NEW
GRAB HOLDINGS LIMITED 170,875 NEW
CRS 136,215 NEW
PONY 86,519 1310.9%
LRCX 53,512 NEW
BIDU 48,538 NEW
YMM 43,017 16.2%
Top Reduces (Value $000, Stocks/ETFs)
TSM -395,606 -100.0%
MRVL -324,736 -100.0%
INTC -277,736 -100.0%
TAL -220,614 -100.0%
GDS -134,720 -100.0%
DECK -123,572 -100.0%
QFIN -99,160 -34.6%
TCOM -87,470 -100.0%
EDU -64,617 -17.2%
SE -61,637 -7.4%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 43,788 (0.9% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type