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CIK: 0001768375
Total reported value
$8.9B
$8.9B
26 檔
30.1%
At the close of Q3 2025, Aspex Management disclosed equity holdings valued at approximately $8.9B, spread across 26 reported holdings.
Aspex Management executed strategic sector rebalancing during Q3 2025, establishing 8 new positions while fully exiting 12 holdings and trimming 4 positions.
In terms of portfolio concentration, the top 5 core holdings (including SE, SNPS, FUTU) accounted for 30.1% of total reported equity market value during Q3 2025.
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | SE | Sea Ltd-adr | Stock-Comm Services | 16.24% | -0.60% | -17.17% | |
| 2 | SNPS | Synopsys Inc | Stock-Tech | 15.85% | +0.27% | +134.96% | |
| 3 | FUTU | Futu Holdings Ltd-adr | Stock-Financials | 9.03% | -4.24% | -27.74% | |
| 4 | PDD | Pdd Holdings Inc | Stock-Consumer Disc | 8.88% | — | — | |
| 5 | EDU | New Oriental Educatio-sp Adr | Stock-Consumer Staples | 6.61% | -1.38% | -15.78% | |
| 6 | YMM | Full Truck Alliance -spn Adr | Stock-Other | 6.52% | -2.62% | EXIT | |
| 7 | NIO | Nio Inc - Adr | Stock-Consumer Disc | 5.65% | -0.40% | — | |
| 8 | AS | Amer Sports, Inc. | Stock-Consumer Disc | 4.37% | -0.80% | — | |
| 9 | DASH | Doordash Inc - A | Stock-Consumer Disc | 4.17% | — | — | |
| 10 | QFIN | Qfin Holdings Inc-adr | Stock-Other | 3.97% | -0.06% | -1.45% | |
| 11 | GRAB | Grab Holdings Limited | Stock-Tech | 3.62% | -0.85% | — | |
| 12 | ATAT | Atour Lifestyle Holdings-adr | Stock-Other | 3.52% | -1.90% | EXIT | |
| 13 | CRS | Carpenter Technology | Stock-Industrials | 2.88% | — | — | |
| 14 | PONY | Pony Ai Inc | Stock-Other | 1.97% | -0.25% | +728.09% | |
| 15 | SEALTD 2.375 12-01-25Bond | Sea LTD | Bond | 1.25% | — | — | |
| 16 | HTHT 3 05-01-26Bond | H World Group LTD | Bond | 1.17% | -0.98% | EXIT | |
| 17 | LRCX | Lam Research CORP | Stock-Tech | 1.13% | — | — | |
| 18 | BIDU | Baidu Inc - Spon Adr | Stock-Comm Services | 1.03% | — | — | |
| 19 | ✓ | Grab Holdings Limited | Stock-Other | 0.93% | -0.03% | — | |
| 20 | NTES | Netease Inc-adr | Stock-Comm Services | 0.48% | -0.03% | — | |
| 21 | RLX | Rlx Technology Inc-adr | Stock-Other | 0.44% | -0.08% | -34.83% | |
| 22 | LANV | Lanvin Group Holdings Limited | Stock-Other | 0.20% | -0.03% | — | |
| 23 | ✓ | Prenetics Global LTD | Stock-Other | 0.10% | -0.10% | EXIT | |
| 24 | RBOT | Vicarious Surgical Inc-a | Stock-Other | 0.01% | — | EXIT | |
| 25 | ✓ | Prenetics Global LTD | Stock-Other | — | — | — | |
| 26 | ✓ | Lanvin Group Holdings Limite | Stock-Other | — | — | EXIT |
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SNPS | Synopsys Inc | +12.4% | +134.96% | Add |
| 2 | FUTU | Futu Holdings Ltd-adr | +1.7% | -27.74% | Trim |
| 3 | YMM | Full Truck Alliance -spn Adr | +1.5% | +5.83% | Add |
| 4 | PONY | Pony Ai Inc | +1.4% | +728.09% | Add |
| 5 | DASH | Doordash Inc - A | +0.8% | — | Unchanged |
| 6 | ATAT | Atour Lifestyle Holdings-adr | +0.2% | -16.67% | Trim |
| 7 | SEALTD 2.375 12-01-25Bond | Sea LTD | +0.1% | — | Unchanged |
| 8 | NTES | Netease Inc-adr | +0.1% | — | Unchanged |
| 9 | ✓ | Prenetics Global LTD | +0.1% | — | Unchanged |
| 10 | RBOT | Vicarious Surgical Inc-a | — | — | Unchanged |
| 11 | ✓ | Prenetics Global LTD | — | — | Unchanged |
| 12 | ✓ | Lanvin Group Holdings Limite | — | — | Unchanged |
| 13 | LANV | Lanvin Group Holdings Limited | -0.1% | — | Unchanged |
| 14 | RLX | Rlx Technology Inc-adr | -0.2% | -34.83% | Trim |
| 15 | HTHT 3 05-01-26Bond | H World Group LTD | -0.3% | — | Unchanged |
| 16 | EDU | New Oriental Educatio-sp Adr | -0.6% | -15.78% | Add |
| 17 | QFIN | Qfin Holdings Inc-adr | -1.9% | -1.45% | Add |
| 18 | SE | Sea Ltd-adr | -3.4% | -17.17% | Trim |
| 19 | PDD | Pdd Holdings Inc | — | NEW | New buy |
| 20 | TSM | Taiwan Semiconductor-sp Adr | — | EXIT | Sold out |
| 21 | NIO | Nio Inc - Adr | — | NEW | New buy |
| 22 | AS | Amer Sports, Inc. | — | NEW | New buy |
| 23 | TAL | Tal Education Group- Adr | — | EXIT | Sold out |
| 24 | DECK | Deckers Outdoor CORP | — | EXIT | Sold out |
| 25 | MU | Micron Technology Inc | — | EXIT | Sold out |
| 26 | GRAB | Grab Holdings Limited | — | NEW | New buy |
| 27 | INTC | Intel CORP | — | EXIT | Sold out |
| 28 | CDNS | Cadence Design Sys Inc | — | EXIT | Sold out |
| 29 | CRS | Carpenter Technology | — | NEW | New buy |
| 30 | BEKE | Ke Holdings Inc-adr | — | EXIT | Sold out |
| 31 | TCOM | Trip.com Group Ltd-adr | — | EXIT | Sold out |
| 32 | GDS | Gds Holdings LTD - Adr | — | EXIT | Sold out |
| 33 | LRCX | Lam Research CORP | — | NEW | New buy |
| 34 | BIDU | Baidu Inc - Spon Adr | — | NEW | New buy |
| 35 | ✓ | Grab Holdings Limited | — | NEW | New buy |
| 36 | FLUT | Flutter Entertainment plc | — | EXIT | Sold out |
| 37 | INTC | Intel Corporation | — | EXIT | Sold out |
| 38 | LI | Li Auto Inc - Adr | — | EXIT | Sold out |
According to official SEC Form 13F filings, Aspex Management reported a total U.S. public equity portfolio value of $8.9B across 26 disclosed positions in Q3 2025.
During Q3 2025, Aspex Management's top holdings by market value included SE (16.2%)、SNPS (15.8%)、FUTU (9.0%). The largest single position, SE, represented 16.2% of total portfolio value.
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Top New Position Initiated
PDD
市值: $419.3M
Top Position Liquidated / Trimmed
TSM
前期市值: $395.5M
In Q3 2025, Aspex Management made 29 total portfolio adjustments, initiating 8 new buys, adding to 5 positions, trimming 4 holdings, and fully liquidating 12 stocks.
All holding records on this page are fetched directly from the U.S. Securities and Exchange Commission (SEC) EDGAR system (Form 13F-HR). AlphaSMO parses CUSIP identifiers and formats data into Schema.org-compliant datasets.
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