# Springs Capital (Hong Kong) Limited

> Springs Capital (Hong Kong) Limited is an SEC-registered investment advisory firm in Hong Kong, Hong Kong, registered since 2015, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated June 5, 2026.

- CRD: 168321
- Filed as: SPRINGS CAPITAL (HONG KONG) LIMITED
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Hong Kong, Hong Kong
- Filing period: October 2026
- Form ADV filing dated: June 5, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/168321
- AdvisorCensus page: https://advisorcensus.com/firm/springs-capital-hong-kong-limited-hong-kong-168321

## Quick answers

**How is Springs Capital (Hong Kong) Limited compensated?**
On its Form ADV (Item 5.E, October 2026), Springs Capital (Hong Kong) Limited reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Springs Capital (Hong Kong) Limited located?**
Springs Capital (Hong Kong) Limited's principal office is in Hong Kong, Hong Kong, according to its Form ADV.

**Is Springs Capital (Hong Kong) Limited registered with the SEC or a state?**
Springs Capital (Hong Kong) Limited is an SEC-registered investment advisory firm, registered since 2015. Status as filed: Approved. CRD 168321.

**How much does Springs Capital (Hong Kong) Limited manage?**
Springs Capital (Hong Kong) Limited reports $7,174,538,731 in regulatory assets under management in its Form ADV filing dated June 5, 2026 (100% discretionary).

**How have Springs Capital (Hong Kong) Limited's assets and staff changed since 2021?**
In the Form ADV data for Springs Capital (Hong Kong) Limited: Regulatory assets under management: $6,644,273,945 in the October 2021 data and $7,174,538,731 in the October 2026 data, up 8%. Total employees: 11 in October 2021 and 17 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Springs Capital (Hong Kong) Limited serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (7); sovereign wealth funds and foreign official institutions (5); corporations or other businesses not listed above (2).

**Which custodians does Springs Capital (Hong Kong) Limited use?**
Springs Capital (Hong Kong) Limited's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Citibank N.A, New York Branch, Industrial and Commercial Bank of China Limited and State Street Bank and Trust Company as custodians holding 10% or more of its separately managed account assets.

**Does Springs Capital (Hong Kong) Limited report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/168321

**What changed in Springs Capital (Hong Kong) Limited's recent Form ADV filings?**
In the July 2026 filing data: Updated its list of owners and control persons (Schedule A).

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Custodians (Schedule D, Section 5.K(3))
- Citibank N.A, New York Branch
- Industrial and Commercial Bank of China Limited
- State Street Bank and Trust Company

Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.

### Regulatory assets under management (Item 5.F)
- Total: $7,174,538,731
- Discretionary: $7,174,538,731
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | Fewer than 5 | Not reported |
| High net worth individuals | 1 | $23,472,093 |
| Banking or thrift institutions | Fewer than 5 | Not reported |
| Investment companies | 0 | Not reported |
| Business development companies | 0 | Not reported |
| Pooled investment vehicles (other than investment companies and business development companies) | 7 | $989,270,472 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 1 | $81,287,334 |
| Charitable organizations | Fewer than 5 | Not reported |
| State or municipal government entities (including government pension plans) | Fewer than 5 | Not reported |
| Other investment advisers | Fewer than 5 | Not reported |
| Insurance companies | Fewer than 5 | Not reported |
| Sovereign wealth funds and foreign official institutions | 5 | $6,001,882,403 |
| Corporations or other businesses not listed above | 2 | $78,626,429 |

### Advisory services (Item 5.G)
- Portfolio management for individuals and/or small businesses
- Portfolio management for pooled investment vehicles (other than investment companies)
- Portfolio management for businesses (other than small businesses) or institutional clients

### Firm details
- Registered since: 2015 (11 years)
- Employees: 17 total, 11 performing advisory functions
- Wrap fee program participation: No
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- [springs-capital.com](https://springs-capital.com)
- LinkedIn @72629005

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $6,644,273,945 | 11 | March 30, 2021 |
| October 2022 | $6,964,944,806 | 10 | March 31, 2022 |
| October 2023 | $5,028,107,894 | 12 | April 26, 2023 |
| October 2024 | $4,595,190,063 | 13 | March 28, 2024 |
| October 2025 | $5,486,587,778 | 16 | May 19, 2025 |
| October 2026 | $7,174,538,731 | 17 | June 5, 2026 |

Regulatory assets under management: $6,644,273,945 in the October 2021 data and $7,174,538,731 in the October 2026 data, up 8%.
Total employees: 11 in October 2021 and 17 in October 2026.

## Changes in the filing (last 12 months)

### July 2026
- Updated its list of owners and control persons (Schedule A).

### May 2026
- Item 11 disclosure answers changed: 0 yes answers, previously 1 (now no: 11.B(1)).
- Employees performing advisory functions went from 7 to 11.
- Regulatory assets under management went from $5,486,587,778 to $7,174,538,731 (+31%).

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Springs Capital (Hong Kong) Limited (CRD 168321): Form ADV filing data as of October 2026.