Aspex Management (HK) Ltd 13F holdings, Q2 2025
Holdings as of June 30, 2025 · filings on SEC EDGAR · latest filing →
Aspex Management (HK) Ltd disclosed 25 US equity positions worth $4.6bn in its Q2 2025 13F filing. The largest position was SE at 18.0% of the reported book, followed by FUTU and TSM. Against the Q1 2025 filing, it opened 1 new position, added to 9 and reduced 4 among the top 25 holdings.
What did Aspex Management (HK) Ltd own in Q2 2025? Top 25 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q1 2025 |
|---|---|---|---|---|---|---|---|
| 1 | SE SEA LTD | Consumer Cyclical | 18.0% | $828.6m | 5,180,898 | -11% | reduced |
| 2 | FUTU FUTU HLDGS LTD | Financial Services | 9.1% | $419.4m | 3,393,307 | 21% | added |
| 3 | TSM TAIWAN SEMICONDUCTOR MFG LTD | Technology | 8.6% | $395.6m | 1,746,681 | -27% | reduced |
| 4 | EDU NEW ORIENTAL ED & TECHNOLOGY | Consumer Defensive | 8.2% | $376.6m | 6,981,188 | 19% | added |
| 5 | SNPS SYNOPSYS INC | Technology | 7.2% | $331.1m | 645,895 | 106% | added |
| 6 | MRVL MARVELL TECHNOLOGY INC | Technology | 7.1% | $324.7m | 4,195,561 | – | new |
| 7 | QFIN QIFU TECHNOLOGY INC | Financial Services | 6.2% | $286.7m | 6,612,366 | 31% | added |
| 8 | INTC INTEL CORP | Technology | 6.0% | $277.7m | 12,398,919 | 82% | added |
| 9 | YMM FULL TRUCK ALLIANCE CO LTD | Technology | 5.8% | $265.2m | 22,455,623 | 48% | added |
| 10 | TAL TAL EDUCATION GROUP | Consumer Defensive | 4.8% | $220.6m | 21,586,517 | 52% | added |
| 11 | DASH DOORDASH INC | Consumer Cyclical | 3.9% | $178.7m | 724,740 | 0% | held |
| 12 | ATAT ATOUR LIFESTYLE HLDGS LTD | Consumer Cyclical | 3.8% | $172.8m | 5,314,881 | 18% | added |
| 13 | GDS GDS HLDGS LTD | Technology | 2.9% | $134.7m | 4,406,949 | 46% | added |
| 14 | DECK DECKERS OUTDOOR CORP | Consumer Cyclical | 2.7% | $123.6m | 1,198,917 | -26% | reduced |
| 15 | TCOM TRIP COM GROUP LTD | Consumer Cyclical | 1.9% | $87.5m | 1,491,643 | 0% | held |
| 16 | SE SEA LTD | 1.2% | $53.4m | 30,000,000 | 0% | held | |
| 17 | H WORLD GROUP LTD | 1.2% | $53.1m | 50,000,000 | 0% | held | |
| 18 | RLX RLX TECHNOLOGY INC | Consumer Defensive | 0.6% | $26.8m | 12,123,409 | 0% | held |
| 19 | NTES NETEASE INC | Communication Services | 0.4% | $19.9m | 147,655 | 0% | held |
| 20 | LANVIN GROUP HOLDINGS LIMITE | 0.2% | $9.9m | 4,500,000 | 0% | held | |
| 21 | PONY PONY AI INC | Technology | 0.1% | $6.6m | 500,000 | -79% | reduced |
| 22 | PRENETICS GLOBAL LTD | 0.1% | $2.9m | 346,150 | 0% | held | |
| 23 | RBOT VICARIOUS SURGICAL INC | 0.0% | $650.0k | 86,666 | 0% | held | |
| 24 | PRENETICS GLOBAL LTD | 0.0% | $46.0k | 1,166,666 | 0% | held | |
| 25 | LANVIN GROUP HOLDINGS LIMITE | 0.0% | $19.0k | 1,000,000 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.