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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
-18.5%
1 Year Est. Return
-1.24%
3 Year Est. Return
+103.92%
5 Year Est. Return
+33.18%
10 Year Est. Return
–
AUM
$123M
AUM Growth
-$53.5M
Cap. Flow
-$24.7M
Cap. Flow %
-20.12%
Top 10 Hldgs %
100%
Holding
11
New
1
Increased
–
Reduced
2
Closed
7

Top Buys

Rank Stock Value
1
UVXY icon
ProShares Ultra VIX Short-Term Futures ETF
UVXY
+$27.8M

Top Sells

Rank Stock Value
1
BABA icon
Alibaba
BABA
+$11.1M
2
TAL icon
TAL Education Group
TAL
+$11.1M
3
QFIN icon
Qfin Holdings
QFIN
+$10.1M
4
LX
LexinFintech Holdings
LX
+$9.12M
5
BIDU icon
Baidu
BIDU
+$5.57M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 72.88%
2 Technology 10.84%
3 Communication Services 0%
4 Consumer Staples 0%
5 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BABA icon
1
Alibaba
BABA
$276B
$70.8M 57.72%
482,703
-68,425
-12% -$11.1M
UVXY icon
2
ProShares Ultra VIX Short-Term Futures ETF
UVXY
$237M
$20M 16.28%
+555,426
New +$27.8M
MNSO icon
3
MINISO
MNSO
$3.81B
$18.6M 15.16%
991,297
-6,954
-0.7% -$144K
SNPS icon
4
Synopsys
SNPS
$73.6B
$13.3M 10.84%
28,279
– –
API
5
Agora
API
$331M
– –
-622,770
Closed -$2.38M
BIDU icon
6
Baidu
BIDU
$36.5B
– –
-42,272
Closed -$5.57M
LX
7
LexinFintech Holdings
LX
$254M
– –
-1,711,539
Closed -$9.12M
QFIN icon
8
Qfin Holdings
QFIN
$1.55B
– –
-352,013
Closed -$10.1M
SY
9
So-Young International
SY
$169M
– –
-490,702
Closed -$1.9M
TAL icon
10
TAL Education Group
TAL
$5.68B
– –
-991,024
Closed -$11.1M
TCOM icon
11
Trip.com Group
TCOM
$26.7B
– –
-13,300
Closed -$1M

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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 Q4 2025 Portfolio in Review

As of Q4 2025, HCEP Management held 11 positions worth $123M, down 30% from $176M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

HCEP Management withdrew a net $24.7M in Q4 2025, closing 7 positions and reducing 2 holdings. Its most notable exit was TAL Education Group, an estimated $11.1M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 73% of assets, up from 69% a quarter earlier, followed by Technology and Communication Services.

Against the trend, HCEP Management opened a new position in ProShares Ultra VIX Short-Term Futures ETF worth $20M.

  • HCEP Management's largest Q4 2025 buy was ProShares Ultra VIX Short-Term Futures ETF: 555,426 shares worth $20M.
  • HCEP Management's biggest Q4 2025 reduction was Alibaba, cutting an estimated $11.1M.
  • HCEP Management fully exited TAL Education Group in Q4 2025, selling an estimated $11.1M.
  • HCEP Management's ten largest holdings make up 100% of its $123M portfolio in Q4 2025.
  • HCEP Management opened 1 new position and closed 7 in Q4 2025.
  • HCEP Management's portfolio value fell 30% quarter-over-quarter to $123M.

Based on HCEP Management's 13F filing for Q4 2025, filed 13 Feb 2026.