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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
+23.06%
1 Year Est. Return
-1.24%
3 Year Est. Return
+103.92%
5 Year Est. Return
+33.18%
10 Year Est. Return
–
AUM
$125M
AUM Growth
-$149M
(-54%)
Cap. Flow
-$146M
Cap. Flow
% of AUM
-117.08%
Top 10 Holdings %
Top 10 Hldgs %
100%
Holding
14
New
7
Increased
1
Reduced
1
Closed
5
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
MINISO
MNSO
|
+$34.3M |
| 2 |
Kanzhun
BZ
|
+$29.4M |
| 3 |
Bitdeer Technologies
BTDR
|
+$6.78M |
| 4 |
API
Agora
API
|
+$2.05M |
| 5 |
VNET
VNET Group
VNET
|
+$2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
KE Holdings
BEKE
|
+$72.4M |
| 2 |
TAL Education Group
TAL
|
+$43.4M |
| 3 |
JD.com
JD
|
+$40M |
| 4 |
Pinduoduo
PDD
|
+$27M |
| 5 |
TSMC
TSM
|
+$26.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Communication Services | 33.11% |
| 2 | Consumer Discretionary | 32.48% |
| 3 | Consumer Staples | 19.23% |
| 4 | Technology | 13.78% |
| 5 | Financials | 1.39% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Kanzhun
BZ
$6.66B
| $41.4M | 33.11% |
3,000,000
+2,000,000
| +200% | +$29.4M |
|
|
2
MINISO
MNSO
$3.81B
| $40.6M | 32.48% |
+1,700,000
| New | +$34.3M |
|
|
3
TAL Education Group
TAL
$5.68B
| $24M | 19.23% |
2,400,000
-4,125,775
| -63% | -$43.4M |
|
|
4
Bitdeer Technologies
BTDR
$2.61B
| $11.6M | 9.24% |
+533,054
| New | +$6.78M |
|
|
VNET
5
VNET Group
VNET
$2.1B
| $2.49M | 1.99% |
+525,527
| New | +$2M |
|
|
API
6
Agora
API
$331M
| $2.08M | 1.66% |
+500,000
| New | +$2.05M |
|
|
CANG
7
Cango Inc
CANG
$72.8M
| $1.74M | 1.39% |
+394,900
| New | +$1.36M |
|
|
TUYA
8
Tuya Inc
TUYA
$1.07B
| $568K | 0.45% |
+317,204
| New | +$533K |
|
|
KC
9
Kingsoft Cloud Holdings
KC
$2.86B
| $535K | 0.43% |
+50,965
| New | +$290K |
|
|
10
KE Holdings
BEKE
$19.3B
| – | – |
-3,638,665
| Closed | -$72.4M |
|
11
iQIYI
IQ
$1.15B
| – | – |
-5,000,000
| Closed | -$14.3M |
|
|
12
JD.com
JD
$40B
| – | – |
-1,000,000
| Closed | -$40M |
|
|
13
Pinduoduo
PDD
$120B
| – | – |
-200,000
| Closed | -$27M |
|
|
14
TSMC
TSM
$2.07T
| – | – |
-150,000
| Closed | -$26.1M |
|
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HCEP Management's Q4 2024 Portfolio in Review
As of Q4 2024, HCEP Management held 14 positions worth $125M, down 54% from $274M the previous quarter. Its ten largest holdings account for 100% of the portfolio.
HCEP Management withdrew a net $146M in Q4 2024, closing 5 positions and reducing 1 holding. Its most notable exit was KE Holdings, an estimated $72.4M position sold in full.
By sector, the portfolio is most concentrated in Communication Services at 33% of assets, up from 12% a quarter earlier, followed by Consumer Discretionary and Consumer Staples.
Against the trend, HCEP Management opened a new position in MINISO worth $40.6M.
- HCEP Management's largest Q4 2024 buy was MINISO: 1,700,000 shares worth $40.6M.
- HCEP Management added most to Kanzhun in Q4 2024, an estimated $29.4M increase.
- HCEP Management's biggest Q4 2024 reduction was TAL Education Group, cutting an estimated $43.4M.
- HCEP Management fully exited KE Holdings in Q4 2024, selling an estimated $72.4M.
- HCEP Management's ten largest holdings make up 100% of its $125M portfolio in Q4 2024.
- HCEP Management opened 7 new positions and closed 5 in Q4 2024.
- HCEP Management's portfolio value fell 54% quarter-over-quarter to $125M.
Based on HCEP Management's 13F filing for Q4 2024, filed 13 Feb 2025.