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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
+2.4%
1 Year Est. Return
-1.24%
3 Year Est. Return
+103.92%
5 Year Est. Return
+33.18%
10 Year Est. Return
–
AUM
$532M
AUM Growth
+$52.4M
Cap. Flow
+$86.5M
Cap. Flow %
16.26%
Top 10 Hldgs %
93.16%
Holding
23
New
7
Increased
3
Reduced
3
Closed
7

Top Buys

Rank Stock Value
1
TSM icon
TSMC
TSM
+$106M
2
PBR icon
Petrobras
PBR
+$13M
3
GCT icon
GigaCloud Technology
GCT
+$8.49M
4
LI icon
Li Auto
LI
+$8.27M
5
WOLF icon
Wolfspeed
WOLF
+$6.03M

Top Sells

Rank Stock Value
1
PDD icon
Pinduoduo
PDD
+$26.2M
2
YMM icon
Full Truck Alliance
YMM
+$19.8M
3
YINN icon
Direxion Daily FTSE China Bull 3X ETF
YINN
+$12.6M
4
NTES icon
NetEase
NTES
+$4.66M
5
BEKE icon
KE Holdings
BEKE
+$2.82M

Sector Composition

Rank Sector Weight
1 Technology 32.11%
2 Real Estate 22.63%
3 Consumer Staples 14.74%
4 Communication Services 13.1%
5 Consumer Discretionary 10.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BEKE icon
1
KE Holdings
BEKE
$19.3B
$120M 22.63%
8,770,468
-202,181
-2% -$2.82M
TSM icon
2
TSMC
TSM
$2.07T
$116M 21.74%
+850,000
New +$106M
IQ icon
3
iQIYI
IQ
$1.15B
$63.5M 11.93%
15,000,000
– –
TAL icon
4
TAL Education Group
TAL
$5.68B
$56.8M 10.67%
5,000,000
– –
YMM icon
5
Full Truck Alliance
YMM
$9.48B
$41.3M 7.77%
5,683,727
-2,961,083
-34% -$19.8M
PDD icon
6
Pinduoduo
PDD
$120B
$34.9M 6.56%
300,000
-200,000
-40% -$26.2M
FUTU icon
7
Futu Holdings
FUTU
$13.3B
$27.1M 5.09%
500,000
+100,000
+25% +$5.16M
GOTU icon
8
Gaotu Techedu
GOTU
$408M
$13M 2.44%
1,980,951
+980,951
+98% +$5.19M
PBR icon
9
Petrobras
PBR
$116B
$12.2M 2.29%
+800,000
New +$13M
TCOM icon
10
Trip.com Group
TCOM
$26.7B
$11M 2.06%
250,000
– –
EDU icon
11
New Oriental
EDU
$7.82B
$8.68M 1.63%
100,000
+24,981
+33% +$2.12M
GCT icon
12
GigaCloud Technology
GCT
$1.42B
$7.99M 1.5%
+299,016
New +$8.49M
LI icon
13
Li Auto
LI
$12.3B
$7.57M 1.42%
+250,000
New +$8.27M
WOLF icon
14
Wolfspeed
WOLF
$1.55B
$5.9M 1.11%
+200,000
New +$6.03M
TME icon
15
Tencent Music
TME
$14.9B
$5.59M 1.05%
+500,000
New +$4.91M
BZ icon
16
Kanzhun
BZ
$6.66B
$631K 0.12%
+36,014
New +$568K
API
17
Agora
API
$331M
– –
-684,747
Closed -$1.8M
FINV
18
FinVolution Group
FINV
$1.12B
– –
-250,000
Closed -$1.23M
NTES icon
19
NetEase
NTES
$84.1B
– –
-50,000
Closed -$4.66M
QFIN icon
20
Qfin Holdings
QFIN
$1.55B
– –
-13,823
Closed -$219K
RLX icon
21
RLX Technology
RLX
$2.51B
– –
-1,111,861
Closed -$2.22M
TOUR
22
Tuniu
TOUR
$55.2M
– –
-203,424
Closed -$1.36M
YINN icon
23
Direxion Daily FTSE China Bull 3X ETF
YINN
$632M
– –
-600,000
Closed -$12.6M

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PIS
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FWM
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FF
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BCM
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FPAM
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MWVC
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HCEP Management's Q1 2024 Portfolio in Review

As of Q1 2024, HCEP Management held 23 positions worth $532M, up 11% from $480M the previous quarter. Its ten largest holdings account for 93% of the portfolio.

HCEP Management deployed $86.5M of net new capital in Q1 2024, opening 7 new positions and adding to 3 existing holdings. Its largest new stake was TSMC: 850,000 shares worth $116M.

By sector, the portfolio is most concentrated in Technology at 32% of assets, up from 13% a quarter earlier, followed by Real Estate and Consumer Staples.

On the sell side, the largest reduction was Pinduoduo, an estimated $26.2M trimmed.

  • HCEP Management's largest Q1 2024 buy was TSMC: 850,000 shares worth $116M.
  • HCEP Management added most to Gaotu Techedu in Q1 2024, an estimated $5.19M increase.
  • HCEP Management's biggest Q1 2024 reduction was Pinduoduo, cutting an estimated $26.2M.
  • HCEP Management fully exited Direxion Daily FTSE China Bull 3X ETF in Q1 2024, selling an estimated $12.6M.
  • HCEP Management's ten largest holdings make up 93% of its $532M portfolio in Q1 2024.
  • HCEP Management opened 7 new positions and closed 7 in Q1 2024.
  • HCEP Management's portfolio value rose 11% quarter-over-quarter to $532M.

Based on HCEP Management's 13F filing for Q1 2024, filed 14 May 2024.