Given that existing research on teacher assessment literacy has focused on teachers' ability to evaluate students' "academic" achievements, this study aims to develop a conceptualization of teachers' assessment literacy in holistic competencies. Guided by four dimensions of teacher assessment literacy (knowledge, attitude, practice, socio-emotional management) identified from the existing literature, data collected from 18 individual interviews and one focus group interview with academics from four Hong Kong universities were analysed using the constant comparison method. The findings show that although the participants' conceptions concurred with the four dimensions in general, some aspects were particularly crucial in the context of holistic competency assessment: for example, positive teacher-student relationships and subjectivity in assessment. Findings from the study allowed us to revise the four-dimensional model in the context of holistic competency assessment with more elaborated forms of knowledge, attitude and capabilities that a holistic competency assessment literate teacher might be expected to possess and enact.