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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
+20.32%
1 Year Est. Return
-1.24%
3 Year Est. Return
+103.92%
5 Year Est. Return
+33.18%
10 Year Est. Return
–
AUM
$274M
AUM Growth
-$98.5M
Cap. Flow
-$135M
Cap. Flow %
-49.13%
Top 10 Hldgs %
100%
Holding
10
New
1
Increased
2
Reduced
4
Closed
3

Top Buys

Rank Stock Value
1
PDD icon
Pinduoduo
PDD
+$24.6M
2
TAL icon
TAL Education Group
TAL
+$14M
3
BZ icon
Kanzhun
BZ
+$7.27M

Top Sells

Rank Stock Value
1
TSM icon
TSMC
TSM
+$59.6M
2
MU icon
Micron Technology
MU
+$39.5M
3
BEKE icon
KE Holdings
BEKE
+$33.1M
4
IQ icon
iQIYI
IQ
+$30.7M
5
GOTU icon
Gaotu Techedu
GOTU
+$10.3M

Sector Composition

Rank Sector Weight
1 Consumer Staples 28.16%
2 Real Estate 26.4%
3 Consumer Discretionary 24.4%
4 Communication Services 11.54%
5 Technology 9.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TAL icon
1
TAL Education Group
TAL
$5.68B
$77.3M 28.16%
6,525,775
+1,525,775
+31% +$14M
BEKE icon
2
KE Holdings
BEKE
$19.3B
$72.4M 26.4%
3,638,665
-2,242,053
-38% -$33.1M
JD icon
3
JD.com
JD
$40B
$40M 14.58%
1,000,000
-162,000
-14% -$4.45M
PDD icon
4
Pinduoduo
PDD
$120B
$27M 9.83%
+200,000
New +$24.6M
TSM icon
5
TSMC
TSM
$2.07T
$26.1M 9.49%
150,000
-350,000
-70% -$59.6M
BZ icon
6
Kanzhun
BZ
$6.66B
$17.4M 6.33%
1,000,000
+500,000
+100% +$7.27M
IQ icon
7
iQIYI
IQ
$1.15B
$14.3M 5.21%
5,000,000
-10,581,595
-68% -$30.7M
GOTU icon
8
Gaotu Techedu
GOTU
$408M
– –
-2,100,000
Closed -$10.3M
MU icon
9
Micron Technology
MU
$959B
– –
-300,000
Closed -$39.5M
WOLF icon
10
Wolfspeed
WOLF
$1.55B
– –
-134,343
Closed -$3.06M

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FWM
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FF
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BCM
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FPAM
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HCEP Management's Q3 2024 Portfolio in Review

As of Q3 2024, HCEP Management held 10 positions worth $274M, down 26% from $373M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

HCEP Management withdrew a net $135M in Q3 2024, closing 3 positions and reducing 4 holdings. Its most notable exit was Micron Technology, an estimated $39.5M position sold in full.

By sector, the portfolio is most concentrated in Consumer Staples at 28% of assets, up from 17% a quarter earlier, followed by Real Estate and Consumer Discretionary.

Against the trend, HCEP Management opened a new position in Pinduoduo worth $27M.

  • HCEP Management's largest Q3 2024 buy was Pinduoduo: 200,000 shares worth $27M.
  • HCEP Management added most to TAL Education Group in Q3 2024, an estimated $14M increase.
  • HCEP Management's biggest Q3 2024 reduction was TSMC, cutting an estimated $59.6M.
  • HCEP Management fully exited Micron Technology in Q3 2024, selling an estimated $39.5M.
  • HCEP Management's ten largest holdings make up 100% of its $274M portfolio in Q3 2024.
  • HCEP Management opened 1 new position and closed 3 in Q3 2024.
  • HCEP Management's portfolio value fell 26% quarter-over-quarter to $274M.

Based on HCEP Management's 13F filing for Q3 2024, filed 13 Nov 2024.