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Livermore
Livermore
ZHEN

Aspex Management (HK) Ltd

SEC CIK
0001768375
Latest filing
Aug 14, 2026

The latest 13F from Aspex Management (HK) Ltd covers Q2 2026 (filed Aug 14, 2026): 25 long positions worth $8.87B. The top 10 holdings make up 80.3% of the portfolio, and the largest is Synopsys Inc (SNPS) at 15.6%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
4
Est. +$1.83B
Added
6
Est. +$969.5M
Reduced
5
Est. −$391.9M
Sold out
7
Est. −$1.29B

Top 5 holdings

Share of this quarter's portfolio value

  1. SNPSSynopsys Inc
    15.6%$1.39BHistory
  2. QCOMQualcomm Inc
    13.2%$1.18BHistory
  3. MKSIMKS Inc
    9.1%$809.7MHistory
  4. CRWVCoreWeave, Inc.
    8.9%$792.4MHistory
  5. CVNACarvana Co.
    8.1%$716.9MHistory

Share of portfolio

Top 5 holdings and the other 20 positions, by share of portfolio value

  1. SNPS15.6%
  2. QCOM13.2%
  3. MKSI9.1%
  4. CRWV8.9%
  5. CVNA8.1%
  6. Other 20 positions45.0%

Biggest buys

New and added positions, by estimated amount bought

  1. QCOMQualcomm Inc
    +$1.18BNewHistory
  2. CPNGCoupang, Inc.
    +$382.0MAddedHistory
  3. INIOInnio N.V.
    +$271.0MNewHistory
  4. NUNu Holdings Ltd.
    +$217.6MNewHistory
  5. SNPSSynopsys Inc
    +$197.2MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. QCOMQualcomm Inc
    +13.25 pp0.0% → 13.2%History
  2. MKSIMKS Inc
    +4.00 pp5.1% → 9.1%History
  3. CPNGCoupang, Inc.
    +3.05 pp4.4% → 7.4%History
  4. INIOInnio N.V.
    +3.05 pp0.0% → 3.1%History
  5. NUNu Holdings Ltd.
    +2.45 pp0.0% → 2.5%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. NVDANVIDIA Corp
    −$902.4MSold outHistory
  2. GLWCorning Inc
    −$272.6MReducedHistory
  3. YMMFull Truck Alliance Co. Ltd.
    −$180.9MSold outHistory
  4. ATATAtour Lifestyle Holdings Ltd
    −$130.8MSold outHistory
  5. LITELumentum Holdings Inc.
    −$100.1MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. NVDANVIDIA Corp
    −13.08 pp13.1% → 0.0%History
  2. YMMFull Truck Alliance Co. Ltd.
    −2.62 pp2.6% → 0.0%History
  3. ATATAtour Lifestyle Holdings Ltd
    −1.90 pp1.9% → 0.0%History
  4. EDUNew Oriental Education & Technology Group Inc.
    −1.38 pp3.7% → 2.3%History
  5. LITELumentum Holdings Inc.
    −1.23 pp2.1% → 0.8%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$8.87B
+$1.98B (+28.6%) vs. prior quarter
Positions
25
−3 vs. prior quarter
Top 10 concentration
80.3%
Top 10 as share of value
Turnover
21.3%
Q2 2026, one quarter
Average holding period
4.7 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $8.87B (Q2 2026)

Q1 2021: $2.53BQ2 2021: $3.05BQ3 2021: $3.00BQ4 2021: $3.27BQ1 2022: $2.45BQ2 2022: $3.96BQ3 2022: $3.37BQ4 2022: $3.57BQ1 2023: $4.07BQ2 2023: $3.44BQ3 2023: $3.25BQ4 2023: $3.41BQ1 2024: $3.70BQ2 2024: $4.68BQ3 2024: $3.78BQ4 2024: $3.70BQ1 2025: $3.87BQ2 2025: $4.60BQ3 2025: $4.68BQ4 2025: $4.92BQ1 2026: $6.90BQ2 2026: $8.87B
Q1 2021Q2 2026
13F filings of Aspex Management (HK) Ltd by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202625$8.87BSNPSQCOMMKSIvs. Q1 2026SEC
Q1 2026May 15, 202628$6.90BSNPSNVDAFUTUvs. Q4 2025SEC
Q4 2025Feb 13, 202623$4.92BSNPSFUTUNVDAvs. Q3 2025SEC
Q3 2025Nov 14, 202525$4.68BSESNPSFUTUvs. Q2 2025SEC
Q2 2025Aug 13, 202525$4.60BSEFUTUTSMvs. Q1 2025SEC
Q1 2025May 14, 202529$3.87BSETSMFUTUvs. Q4 2024SEC
Q4 2024Feb 14, 202532$3.70BSEEDUTERvs. Q3 2024SEC
Q3 2024Nov 14, 202430$3.78BSEFUTUEDUvs. Q2 2024SEC
Q2 2024Aug 14, 202437$4.68BMRVLTERSEvs. Q1 2024SEC
Q1 2024May 15, 202434$3.70BSEMRVLMUvs. Q4 2023SEC
Q4 2023Feb 14, 202434$3.41BAMDMRVLMUvs. Q3 2023SEC
Q3 2023Nov 14, 202330$3.25BBABADASHNVDAvs. Q2 2023SEC
Q2 2023Aug 14, 202330$3.44BBABADASHSEvs. Q1 2023SEC
Q1 2023May 12, 202335$4.07BBABADASHSEvs. Q4 2022SEC
Q4 2022Feb 13, 202330$3.57BBABADASHSEvs. Q3 2022SEC
Q3 2022Nov 14, 202228$3.37BBABASEDASHvs. Q2 2022SEC
Q2 2022Aug 15, 202229$3.96BJDDASHTSMvs. Q1 2022SEC
Q1 2022May 9, 202225$2.45BJDGDSXPEVvs. Q4 2021SEC
Q4 2021Feb 14, 202226$3.27BXPEVJDGDSvs. Q3 2021SEC
Q3 2021Nov 12, 202127$3.00BJDGDSXPEVvs. Q2 2021SEC
Q2 2021Aug 13, 202124$3.05BJDGDSXPEVvs. Q1 2021SEC
Q1 2021May 14, 202121$2.53BXPEVJDGDS–SEC

13D and 13G filings

Companies where Aspex Management (HK) Ltd reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

Aspex Management (HK) Ltd does not currently report owning 5% or more of any company.

Latest filings

12 filings on file made by Aspex Management (HK) Ltd or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Aspex Management (HK) Ltd
CompanyFiled (ET)FormStakeChangeEvent dateFiling
FUTUFutu Holdings LtdFeb 26, 20259:11 AM ET13G4.90%36.4M shares–Below 5%Aug 16, 2024SEC
FUTUFutu Holdings LtdAug 14, 202413GOld format–––SEC
ATATAtour Lifestyle Holdings LtdJun 20, 202413GOld format–New–SEC
QFINQfin Holdings, Inc.Mar 4, 202413G/AOld format–––SEC
QFINQfin Holdings, Inc.Feb 14, 202413GOld format–––SEC
QFINQfin Holdings, Inc.Feb 14, 202313GOld format–––SEC
FUTUFutu Holdings LtdFeb 14, 202313GOld format–––SEC
GDSGDS Holdings LtdNov 17, 202213GOld format–New–SEC
PREPrenetics Global LtdMay 27, 202213GOld format–New–SEC
FUTUFutu Holdings LtdMay 4, 202213GOld format–––SEC
FUTUFutu Holdings LtdMar 25, 202213GOld format–New–SEC
QFINQfin Holdings, Inc.Feb 14, 202213G/AOld format–––SEC