HCEP Management Ltd
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), HCEP Management Ltd reported 9 stock positions worth $372.9 million. Its top holding was Taiwan Semiconductor-SP ADR (TSM) at 23.3% of the portfolio, followed by Ke Holdings Inc.-ADR (BEKE, 22.3%) and Iqiyi Inc.-ADR (IQ, 15.3%). Compared with Q1 2024, it opened 2 new positions, sold out of 9, added to 3 and reduced 3. The biggest buy was a new position in Micron Technology (MU) and the biggest sale an exit from Full Truck Alliance -SPN ADR (YMM).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0001822015
- Portfolio Value
- $372.9M (Q2 2024)
- SEC Filing
- 0001822015-24-000005 ↗ filed Aug 13, 2024
Holdings Value
Holdings 9 stocks · $372.9M
| TSM Taiwan Semiconductor-SP ADR | 23.31% | 500,000 | $86.9M | Reduce -41.2% |
| BEKE Ke Holdings Inc.-ADR filed as KE HLDGS INC | 22.32% | 5,880,718 | $83.2M | Reduce -33.0% |
| IQ Iqiyi Inc.-ADR | 15.34% | 15,581,595 | $57.2M | Add +3.9% |
| TAL Tal Education Group- ADR | 14.31% | 5,000,000 | $53.4M | No change |
| MU Micron Technology Inc. | 10.58% | 300,000 | $39.5M | New |
| JD Jd.com Inc.-ADR | 8.05% | 1,162,000 | $30.0M | New |
| GOTU Gaotu Techedu Inc. | 2.76% | 2,100,000 | $10.3M | Add +6.0% |
| BZ Kanzhun Ltd. - ADR | 2.52% | 500,000 | $9.4M | Add +1288.3% |
| WOLF Wolfspeed Inc. | 0.82% | 134,343 | $3.1M | Reduce -32.8% |
Portfolio Sells Q1 2024 → Q2 2024
| YMM Full Truck Alliance -SPN ADR | Sold out | 0.00% | −7.77 |
| PDD PDD Holdings Inc. | Sold out | 0.00% | −6.56 |
| FUTU Futu Holdings Ltd.-ADR | Sold out | 0.00% | −5.09 |
| PBR Petroleo Brasileiro-Spon ADR | Sold out | 0.00% | −2.29 |
| TCOM Trip.com Group Ltd.-ADR | Sold out | 0.00% | −2.06 |
| EDU New Oriental Educatio-SP ADR | Sold out | 0.00% | −1.63 |
| GCT Gigacloud Technology Inc. Class A | Sold out | 0.00% | −1.50 |
| LI Li Auto Inc. - ADR | Sold out | 0.00% | −1.42 |
| TME Tencent Music Entertainm-ADR | Sold out | 0.00% | −1.05 |
| BEKE Ke Holdings Inc.-ADR | Reduce -33.0% | 22.32% | −0.32 |
| WOLF Wolfspeed Inc. | Reduce -32.8% | 0.82% | −0.29 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -41.2% | 23.31% | +1.57 |
Portfolio Buys Q1 2024 → Q2 2024
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 4 | $61.3M | TSM, BABA, MNSO, UVXY |
| Q1 2026 | 4 | $80.7M | TSM, BABA, MNSO, UVXY |
| Q4 2025 | 4 | $122.6M | BABA, UVXY, MNSO, SNPS |
| Q3 2025 | 10 | $176.1M | BABA, MNSO, SNPS, TAL, QFIN |
| Q2 2025 | 9 | $124.4M | BABA, MNSO, TAL, QFIN, TCOM |
| Q1 2025 | 13 | $172.6M | BABA, TAL, MNSO, TCOM, PROSHARES TR II |
| Q4 2024 | 9 | $125.0M | BZ, MNSO, TAL, BTDR, VNET |
| Q3 2024 | 7 | $274.4M | TAL, BEKE, JD, PDD, TSM |
| Q2 2024 | 9 | $372.9M | TSM, BEKE, IQ, TAL, MU |
| Q1 2024 | 16 | $532.0M | BEKE, TSM, IQ, TAL, YMM |