Aspex Management (HK) Ltd
Long book
$6.90B
Q1 2026
Positions
28
Top-10 weight
78%
concentration
Last quarter
+8.1%
SPY +14.8%
Turnover
24%
of book per quarter
Strategy in plain words
auto-generated from filingsAspex Management (HK) Ltd is a concentrated fundamental stock-picker, running a $6.90B US long book across 28 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. Turnover is modest: positions are typically held for years. Current anchor positions: SYNOPSYS INC, NVIDIA CORP, FUTU HOLDINGS LTD-ADR, CARVANA CO, COREWEAVE INC-CL A.
Over the last 9 quarters its long book ran on average 0pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+10.0%
Q2 2024
+10.6%
Q3 2024
+1.9%
Q4 2024
+1.1%
Q1 2025
+14.6%
Q2 2025
+13.0%
Q3 2025
-11.9%
Q4 2025
-7.2%
Q1 2026
+8.1%
Sector allocation
Technology 65%
Consumer discretionary 18%
Industrials 7%
Other 6%
Services media 4%
Healthcare 0%
Long book by quarter
What does Aspex Management own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| SNPS SYNOPSYS INC | Technology | 2.7M | $1.06B | 15.4% | +25.6% |
| NVDA NVIDIA CORP | Technology | 5.2M | $902.4M | 13.1% | +80.1% |
| CVNA CARVANA CO | Consumer discretionary | 1.8M | $571.9M | 8.3% | New |
| CRWV COREWEAVE INC-CL A | Technology | 7.1M | $549.8M | 8.0% | New |
| MKSI MKS INC | Technology | 1.5M | $353.6M | 5.1% | New |
| GLW CORNING INC | Industrials | 2.5M | $346.0M | 5.0% | New |
| CPNG COUPANG INC | Consumer discretionary | 16.0M | $302.8M | 4.4% | New |
| AS AMER SPORTS INC | Other | 8.3M | $272.2M | 3.9% | +8.9% |
| GRAB GRAB HOLDINGS LTD - CL A | Services media | 59.3M | $217.1M | 3.1% | +6.2% |
| TER TERADYNE INC | Technology | 506.1K | $150.0M | 2.2% | -51.0% |
| LITE LUMENTUM HOLDINGS INC | Technology | 203.9K | $143.3M | 2.1% | -70.1% |
| LANV LANVIN GROUP HOLDINGS LTD | Other | 4.5M | $6.8M | 0.1% | Held |
| PRE PRENETICS GLOBAL LTD-CL A | Healthcare | 346.1K | $6.7M | 0.1% | Held |
| RBOT VICARIOUS SURGICAL INC-A | Healthcare | 86.7K | $62K | 0.0% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 31 | $6.90B | $K fixed canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 26 | $4.94B | $K fixed canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 28 | $4.72B | $K fixed canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 13, 2025 | 29 | $4.60B | $K fixed canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 31 | $3.89B | $K fixed canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 33 | $3.70B | $K fixed canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 31 | $3.78B | $K fixed canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 38 | $4.68B | $K fixed canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 36 | $3.74B | $K fixed canonical | SEC ↗ |
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