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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
+6.64%
1 Year Est. Return
-1.24%
3 Year Est. Return
+103.92%
5 Year Est. Return
+33.18%
10 Year Est. Return
–
AUM
$386M
AUM Growth
-$141M
(-27%)
Cap. Flow
-$158M
Cap. Flow
% of AUM
-41.08%
Top 10 Holdings %
Top 10 Hldgs %
97.74%
Holding
18
New
6
Increased
3
Reduced
4
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Direxion Daily FTSE China Bull 3X ETF
YINN
|
+$17.1M |
| 2 |
Futu Holdings
FUTU
|
+$15.5M |
| 3 |
iQIYI
IQ
|
+$14.2M |
| 4 |
Trip.com Group
TCOM
|
+$9.4M |
| 5 |
Full Truck Alliance
YMM
|
+$9.25M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Alibaba
BABA
|
+$125M |
| 2 |
Pinduoduo
PDD
|
+$64.6M |
| 3 |
ProShares UltraPro Short QQQ
SQQQ
|
+$26.3M |
| 4 |
Coherent
COHR
|
+$18.2M |
| 5 |
KE Holdings
BEKE
|
+$1.68M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Real Estate | 39.82% |
| 2 | Communication Services | 19.84% |
| 3 | Technology | 19.69% |
| 4 | Consumer Discretionary | 9.4% |
| 5 | Financials | 4.4% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
KE Holdings
BEKE
$19.3B
| $154M | 39.82% |
9,893,959
-106,041
| -1% | -$1.68M |
|
|
2
iQIYI
IQ
$1.15B
| $71.1M | 18.44% |
15,000,000
+2,731,681
| +22% | +$14.2M |
|
|
3
Full Truck Alliance
YMM
$9.48B
| $70.4M | 18.25% |
10,000,000
+1,340,916
| +15% | +$9.25M |
|
|
4
Pinduoduo
PDD
$120B
| $24.5M | 6.36% |
250,000
-750,000
| -75% | -$64.6M |
|
|
5
Futu Holdings
FUTU
$13.3B
| $16.8M | 4.35% |
+290,501
| New | +$15.5M |
|
|
6
Direxion Daily FTSE China Bull 3X ETF
YINN
$632M
| $14.5M | 3.75% |
+500,000
| New | +$17.1M |
|
|
7
Trip.com Group
TCOM
$26.7B
| $8.74M | 2.27% |
+250,000
| New | +$9.4M |
|
8
TAL Education Group
TAL
$5.68B
| $8.19M | 2.12% |
+898,670
| New | +$6.3M |
|
9
NetEase
NTES
$84.1B
| $5.42M | 1.41% |
+54,100
| New | +$5.55M |
|
10
RLX Technology
RLX
$2.51B
| $3.77M | 0.98% |
2,500,000
+500,000
| +25% | +$784K |
|
|
API
11
Agora
API
$331M
| $3.04M | 0.79% |
1,200,000
| – | – |
|
|
TOUR
12
Tuniu
TOUR
$55.2M
| $3M | 0.78% |
250,000
| – | – |
|
|
13
Coherent
COHR
$54.3B
| $1.88M | 0.49% |
57,609
-442,391
| -88% | -$18.2M |
|
|
DQ
14
Daqo New Energy
DQ
$821M
| $605K | 0.16% |
20,000
-458
| -2% | -$16.3K |
|
|
FINV
15
FinVolution Group
FINV
$1.12B
| $183K | 0.05% |
+36,758
| New | +$192K |
|
|
16
Alibaba
BABA
$276B
| – | – |
-1,495,600
| Closed | -$125M |
|
|
17
ProShares UltraPro Short QQQ
SQQQ
$2.36B
| – | – |
-55,534
| Closed | -$26.3M |
|
18
Tesla
TSLA
$1.43T
| – | – |
-5,270
| Closed | -$1.38M |
|
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HCEP Management's Q3 2023 Portfolio in Review
As of Q3 2023, HCEP Management held 18 positions worth $386M, down 27% from $527M the previous quarter. Its ten largest holdings account for 98% of the portfolio.
HCEP Management withdrew a net $158M in Q3 2023, closing 3 positions and reducing 4 holdings. Its most notable exit was Alibaba, an estimated $125M position sold in full.
By sector, the portfolio is most concentrated in Real Estate at 40% of assets, up from 28% a quarter earlier, followed by Communication Services and Technology.
Against the trend, HCEP Management opened a new position in Direxion Daily FTSE China Bull 3X ETF worth $14.5M.
- HCEP Management's largest Q3 2023 buy was Direxion Daily FTSE China Bull 3X ETF: 500,000 shares worth $14.5M.
- HCEP Management added most to iQIYI in Q3 2023, an estimated $14.2M increase.
- HCEP Management's biggest Q3 2023 reduction was Pinduoduo, cutting an estimated $64.6M.
- HCEP Management fully exited Alibaba in Q3 2023, selling an estimated $125M.
- HCEP Management's ten largest holdings make up 98% of its $386M portfolio in Q3 2023.
- HCEP Management opened 6 new positions and closed 3 in Q3 2023.
- HCEP Management's portfolio value fell 27% quarter-over-quarter to $386M.
Based on HCEP Management's 13F filing for Q3 2023, filed 14 Nov 2023.