CIK: 0001809525
Total reported value
$177.9M
Reporting period: 2026-03-31 · Number of holdings: 25
IvyRock Asset Management (HK) Ltd disclosed 25 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $177.9M and a quarterly turnover rate of 28.9%.
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IvyRock Asset Management (HK) Ltd's disclosed holdings carry a Herfindahl concentration index of 0.450 — mathematically equivalent to about 2 equally-sized positions, well below its 25 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 3.27), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 14.2 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Add PDD
+15.5% $4.6M
Trim TSLA
-48.3% -$6.8M
Trim IBIT
-33.1% -$6.0M
Trim LEGN
0.0% -$2.9M
Trim BABA
0.0% -$2.0M
Add HUYA
+6.3% $620.3K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | PDD | Pdd Holdings INC | Stock-Consumer Disc | 65.78% | +6.48% | +15.52% | |
| 2 | LEGN | Legend Biotech Corp-adr | Stock-Other | 8.17% | -1.05% | — | |
| 3 | BABA | Alibaba Group Holding-sp Adr | Stock-Consumer Disc | 6.82% | -0.66% | — | |
| 4 | CRCL | Circle Internet Group INC | Stock-Financials | 4.48% | +4.48% | NEW | |
| 5 | IBIT | Ishares Bitcoin Trust ETF | ETF-Crypto | 3.59% | -2.93% | -33.15% | |
| 6 | BEKE | Ke Holdings Inc-adr | Stock-Other | 3.03% | +3.03% | NEW | |
| 7 | TSLA | Tesla INC | Stock-Consumer Disc | 2.84% | -3.40% | -48.29% | |
| 8 | HUYA | Huya Inc-adr | Stock-Other | 1.94% | +0.44% | +6.35% | |
| 9 | GLD | Spdr Gold Shares | ETF-Commodities | 0.73% | +0.10% | — | |
| 10 | ARWR | Arrowhead Pharmaceuticals In | Stock-Healthcare | 0.25% | -0.05% | -17.65% | |
| 11 | URNM | Sprott Uranium Miners ETF | ETF-Other | 0.23% | +0.23% | NEW | |
| 12 | COPX | Global X Copper Miners ETF | ETF-Other | 0.21% | +0.08% | +42.86% | |
| 13 | MSFT | Microsoft CORP | Stock-Tech | 0.21% | -0.05% | — | |
| 14 | AVBP | Arrivent Biopharma INC | Stock-Other | 0.21% | +0.21% | NEW | |
| 15 | CSCO | Cisco Systems INC | Stock-Tech | 0.20% | +0.02% | — | |
| 16 | SNPS | Synopsys INC | Stock-Tech | 0.18% | -0.02% | — | |
| 17 | SIL | Global X Silver Miners ETF | ETF-Commodities | 0.18% | +0.18% | NEW | |
| 18 | AMD | Advanced Micro Devices | Stock-Tech | 0.17% | — | — | |
| 19 | JOYY | Joyy Inc-adr | Stock-Other | 0.16% | +0.16% | NEW | |
| 20 | NTLA | Intellia Therapeutics INC | Stock-Other | 0.14% | +0.05% | +2.59% | |
| 21 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 0.13% | +0.13% | NEW | |
| 22 | BEAM | Beam Therapeutics INC | Stock-Other | 0.12% | -0.01% | — | |
| 23 | DHT | DHT Holdings, Inc. | Stock-Other | 0.10% | +0.10% | NEW | |
| 24 | PRME | Prime Medicine INC | Stock-Other | 0.08% | — | — | |
| 25 | RERE | Atrenew INC | Stock-Other | 0.05% | -0.01% | — |
Performance for Q3 2026
-16%
Performance Last 4 Quarters
-18%
Based on 83% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 25 | $177.9M | 29 | |
| 2025-12-31 | 23 | $189.6M | 48 | |
| 2025-09-30 | 20 | $232.7M | 39 | |
| 2025-06-30 | 13 | $216.7M | 0 | |
| 2025-03-31 | 17 | $212.8M | 100 | |
| 2024-12-31 | 23 | $226.5M | 0 | |
| 2024-09-30 | 22 | $228.2M | 0 | |
| 2024-06-30 | 21 | $234.7M | 0 | |
| 2024-03-31 | 20 | $215.0M | 0 | |
| 2023-12-31 | 18 | $200.7M | 0 | |
| 2023-09-30 | 16 | $191.6M | 0 | |
| 2023-06-30 | 17 | $171.9M | 0 | |
| 2023-03-31 | 18 | $195.4M | 0 | |
| 2022-12-31 | 16 | $178.6M | 0 | |
| 2022-09-30 | 12 | $128.7M | 0 | |
| 2022-06-30 | 14 | $158.3M | 0 | |
| 2022-03-31 | 14 | $138.3M | 0 | |
| 2021-12-31 | 10 | $87.4M | 0 | |
| 2021-09-30 | 10 | $105.6M | 0 | |
| 2021-06-30 | 12 | $194.0M | 100 | |
| 2021-03-31 | 12 | $153.6M | 93 | |
| 2020-12-31 | 11 | $162.4M | — |
IvyRock Asset Management (HK) Ltd's most significant position changes for 2026-03-31: Sold out: Alphabet Inc-cl A (GOOGL); New buy: Circle Internet Group INC (CRCL); New buy: Ke Holdings Inc-adr (BEKE); Sold out: Albemarle CORP (ALB); Sold out: Ss Spdr S&p Biotech ETF (XBI).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | PDD | Pdd Holdings INC | +6.5% | +15.52% | Add |
| 2 | HUYA | Huya Inc-adr | +0.4% | +6.35% | Add |
| 3 | GLD | Spdr Gold Shares | +0.1% | — | Unchanged |
| 4 | COPX | Global X Copper Miners ETF | +0.1% | +42.86% | Add |
| 5 | NTLA | Intellia Therapeutics INC | +0.1% | +2.59% | Add |
| 6 | CSCO | Cisco Systems INC | 0% | — | Unchanged |
| 7 | AMD | Advanced Micro Devices | — | — | Unchanged |
| 8 | PRME | Prime Medicine INC | — | — | Unchanged |
| 9 | BEAM | Beam Therapeutics INC | 0% | — | Unchanged |
| 10 | RERE | Atrenew INC | 0% | — | Unchanged |
| 11 | SNPS | Synopsys INC | 0% | — | Unchanged |
| 12 | ARWR | Arrowhead Pharmaceuticals In | -0.1% | -17.65% | Trim |
| 13 | MSFT | Microsoft CORP | -0.1% | — | Unchanged |
| 14 | BABA | Alibaba Group Holding-sp Adr | -0.7% | — | Unchanged |
| 15 | LEGN | Legend Biotech Corp-adr | -1.1% | — | Unchanged |
| 16 | IBIT | Ishares Bitcoin Trust ETF | -2.9% | -33.15% | Trim |
| 17 | TSLA | Tesla INC | -3.4% | -48.29% | Trim |
| 18 | GOOGL | Alphabet Inc-cl A | — | EXIT | Sold out |
| 19 | CRCL | Circle Internet Group INC | — | NEW | New buy |
| 20 | BEKE | Ke Holdings Inc-adr | — | NEW | New buy |
| 21 | ALB | Albemarle CORP | — | EXIT | Sold out |
| 22 | XBI | Ss Spdr S&p Biotech ETF | — | EXIT | Sold out |
| 23 | URNM | Sprott Uranium Miners ETF | — | NEW | New buy |
| 24 | AVBP | Arrivent Biopharma INC | — | NEW | New buy |
| 25 | SY | So-young International-adr | — | EXIT | Sold out |
| 26 | SIL | Global X Silver Miners ETF | — | NEW | New buy |
| 27 | JOYY | Joyy Inc-adr | — | NEW | New buy |
| 28 | ZLAB | Zai Lab Ltd-adr | — | EXIT | Sold out |
| 29 | OUNZ | Vaneck Merk Gold ETF | — | EXIT | Sold out |
| 30 | GDX | Vaneck Gold Miners ETF | — | NEW | New buy |
| 31 | DHT | DHT Holdings, Inc. | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-07 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-11 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-12 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-12 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-07 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-12 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-08 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-09 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-07 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-08 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-07 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-08 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-12 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-07 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-09 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-06 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-04 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-05 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-07-30 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-04-28 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-05 | 13F-HR | View on EDGAR |
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