IvyRock Asset Management (HK) Ltd
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 12, 2025), IvyRock Asset Management (HK) Ltd reported 13 stock positions worth $216.7 million. Its top holding was PDD (PDD) at 52.5% of the portfolio, followed by iShares Bitcoin Trust ETF (IBIT, 17.2%) and Legend Biotech Corp.-ADR (LEGN, 14.2%). Compared with Q1 2025, it sold out of 4, added to 4 and reduced 4. The biggest buy was PDD (PDD, shares +26%) and the biggest sale Canadian Solar (CSIQ, shares −69%).
- Most Recent 13F
- Q2 2026
- Location
- SHEUNG WAN, K3
- CIK
- 0001809525
- Portfolio Value
- $216.7M (Q2 2025)
- SEC Filing
- 0001822809-25-000001 ↗ filed Aug 12, 2025
Holdings Value
Holdings 13 stocks · $216.7M
| PDD PDD Holdings Inc. | 52.49% | 1,086,849 | $113.7M | Add +25.7% |
| IBIT iShares Bitcoin Trust ETF | 17.23% | 610,100 | $37.3M | Reduce -0.5% |
| LEGN Legend Biotech Corp.-ADR | 14.25% | 869,900 | $30.9M | Add +3.1% |
| BABA Alibaba Group Holding-SP ADR | 9.63% | 184,000 | $20.9M | Add +1.9% |
| CSIQ Canadian Solar Inc. | 4.16% | 817,322 | $9.0M | Reduce -68.7% |
| EDU New Oriental Educatio-SP ADR | 1.07% | 42,790 | $2.3M | No change |
| GLD SPDR Gold Shares | 0.42% | 3,000 | $914K | Add +11.1% |
| MSFT Microsoft Corp. | 0.23% | 1,000 | $497K | Reduce -8.3% |
| ANSS Ansys Inc. | 0.15% | 950 | $334K | No change |
| AMD Advanced Micro Devices | 0.15% | 2,300 | $326K | Reduce -4.2% |
| CSCO Cisco Systems Inc. | 0.14% | 4,500 | $312K | No change |
| VLN Valens Semiconductor Ltd. | 0.05% | 40,000 | $105K | No change |
| RERE Atrenew Inc. | 0.03% | 18,000 | $60K | No change |
Portfolio Sells Q1 2025 → Q2 2025
| CSIQ Canadian Solar Inc. | Reduce -68.7% | 4.16% | −6.44 |
| SMMT Summit Therapeutics Inc. | Sold out | 0.00% | −0.83 |
| MNSO Miniso Group Holding Ltd.-ADR | Sold out | 0.00% | −0.14 |
| FUTU Futu Holdings Ltd.-ADR | Sold out | 0.00% | −0.11 |
| ASTS Ast Spacemobile Inc. | Sold out | 0.00% | −0.10 |
| AMD Advanced Micro Devices | Reduce -4.2% | 0.15% | +0.03 |
| MSFT Microsoft Corp. | Reduce -8.3% | 0.23% | +0.04 |
| IBIT iShares Bitcoin Trust ETF | Reduce -0.5% | 17.23% | +3.74 |
Portfolio Buys Q1 2025 → Q2 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 25 | $176.9M | PDD, BABA, LEGN, CRCL, IBIT |
| Q1 2026 | 25 | $177.9M | PDD, LEGN, BABA, CRCL, IBIT |
| Q4 2025 | 23 | $189.6M | PDD, LEGN, BABA, IBIT, TSLA |
| Q3 2025 | 20 | $232.7M | PDD, LEGN, IBIT, BABA, ETHA |
| Q2 2025 | 13 | $216.7M | PDD, IBIT, LEGN, BABA, CSIQ |
| Q1 2025 | 17 | $212.8M | PDD, IBIT, LEGN, BABA, CSIQ |
| Q4 2024 | 22 | $225.1M | PDD, IBIT, TSM, TSLA, CSIQ |
| Q3 2024 | 22 | $228.2M | PDD, IBIT, TSM, TSLA, YMM |
| Q2 2024 | 21 | $234.7M | PDD, IBIT, YMM, TSM, TSLA |
| Q1 2024 | 20 | $215.0M | PDD, COIN, TSLA, YMM, IBIT |