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HM
HCEP Management Portfolio holdings
AUM
$80.7M
1-Year Est. Return
1.24%
This Fund
S&P 500
This Quarter
Est. Return
-4.27%
1 Year Est. Return
-1.24%
3 Year Est. Return
+103.92%
5 Year Est. Return
+33.18%
10 Year Est. Return
–
AUM
$136M
AUM Growth
-$38.1M
(-22%)
Cap. Flow
-$29.9M
Cap. Flow
% of AUM
-21.92%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
9
New
3
Increased
–
Reduced
2
Closed
2
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
NetEase
NTES
|
+$11.3M |
| 2 |
ProShares UltraPro Short QQQ
SQQQ
|
+$8.55M |
| 3 |
ZH
Zhihu
ZH
|
+$4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Pinduoduo
PDD
|
+$32.8M |
| 2 |
VNET
VNET Group
VNET
|
+$10.4M |
| 3 |
ZTO Express
ZTO
|
+$7.75M |
| 4 |
JOYY
JOYY Inc
JOYY
|
+$2.78M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Consumer Discretionary | 40.59% |
| 2 | Industrials | 21.96% |
| 3 | Real Estate | 20.92% |
| 4 | Communication Services | 10.56% |
| 5 | Technology | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
JD.com
JD
$40B
| $50.6M | 37.15% |
600,000
| – | – |
|
|
2
ZTO Express
ZTO
$18.2B
| $29.9M | 21.96% |
1,026,184
-237,477
| -19% | -$7.75M |
|
3
KE Holdings
BEKE
$19.3B
| $28.5M | 20.92% |
500,000
| – | – |
|
|
4
NetEase
NTES
$84.1B
| $10.3M | 7.58% |
+100,000
| New | +$11.3M |
|
|
5
ProShares UltraPro Short QQQ
SQQQ
$2.36B
| $8.13M | 5.97% |
+4,954
| New | +$8.55M |
|
|
6
Pinduoduo
PDD
$120B
| $4.69M | 3.44% |
35,000
-194,180
| -85% | -$32.8M |
|
|
ZH
7
Zhihu
ZH
$273M
| $4.05M | 2.98% |
+83,333
| New | +$4M |
|
|
VNET
8
VNET Group
VNET
$2.1B
| – | – |
-300,000
| Closed | -$10.4M |
|
|
JOYY
9
JOYY Inc
JOYY
$3.53B
| – | – |
-34,717
| Closed | -$2.78M |
|
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HCEP Management's Q1 2021 Portfolio in Review
As of Q1 2021, HCEP Management held 9 positions worth $136M, down 22% from $174M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
HCEP Management withdrew a net $29.9M in Q1 2021, closing 2 positions and reducing 2 holdings. Its most notable exit was VNET Group, an estimated $10.4M position sold in full.
By sector, the portfolio is most concentrated in Consumer Discretionary at 41% of assets, down from 54% a quarter earlier, followed by Industrials and Real Estate.
Against the trend, HCEP Management opened a new position in NetEase worth $10.3M.
- HCEP Management's largest Q1 2021 buy was NetEase: 100,000 shares worth $10.3M.
- HCEP Management's biggest Q1 2021 reduction was Pinduoduo, cutting an estimated $32.8M.
- HCEP Management fully exited VNET Group in Q1 2021, selling an estimated $10.4M.
- HCEP Management's ten largest holdings make up 100% of its $136M portfolio in Q1 2021.
- HCEP Management opened 3 new positions and closed 2 in Q1 2021.
- HCEP Management's portfolio value fell 22% quarter-over-quarter to $136M.
Based on HCEP Management's 13F filing for Q1 2021, filed 17 May 2021.