HCEP Management Ltd
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), HCEP Management Ltd reported 9 stock positions worth $125.0 million. Its top holding was Kanzhun Ltd. - ADR (BZ) at 33.1% of the portfolio, followed by Miniso Group Holding Ltd.-ADR (MNSO, 32.5%) and Tal Education Group- ADR (TAL, 19.2%). Compared with Q3 2024, it opened 7 new positions, sold out of 5, added to 1 and reduced 1. The biggest buy was a new position in Miniso Group Holding Ltd.-ADR (MNSO) and the biggest sale an exit from Ke Holdings Inc.-ADR (BEKE).
- Most Recent 13F
- Q2 2026
- Location
- HONG KONG, K3
- CIK
- 0001822015
- Portfolio Value
- $125.0M (Q4 2024)
- SEC Filing
- 0001822015-25-000002 ↗ filed Feb 13, 2025
Holdings Value
Holdings 9 stocks · $125.0M
| BZ Kanzhun Ltd. - ADR | 33.11% | 3,000,000 | $41.4M | Add +200.0% |
| MNSO Miniso Group Holding Ltd.-ADR | 32.48% | 1,700,000 | $40.6M | New |
| TAL Tal Education Group- ADR | 19.23% | 2,400,000 | $24.0M | Reduce -63.2% |
| BTDR Bitdeer Technologies Group-A | 9.24% | 533,054 | $11.6M | New |
| VNET Vnet Group Inc.-ADR | 1.99% | 525,527 | $2.5M | New |
| API Agora Inc.-ADR | 1.66% | 500,000 | $2.1M | New |
| CANG Cango Inc./KY - ADR | 1.39% | 394,900 | $1.7M | New |
| TUYA Tuya Inc. | 0.45% | 317,204 | $568K | New |
| KC Kingsoft Cloud Holdings-ADR | 0.43% | 50,965 | $535K | New |
Portfolio Sells Q3 2024 → Q4 2024
Portfolio Buys Q3 2024 → Q4 2024
| MNSO Miniso Group Holding Ltd.-ADR | New | 32.48% | +32.48 |
| BZ Kanzhun Ltd. - ADR | Add +200.0% | 33.11% | +26.79 |
| BTDR Bitdeer Technologies Group-A | New | 9.24% | +9.24 |
| VNET Vnet Group Inc.-ADR | New | 1.99% | +1.99 |
| API Agora Inc.-ADR | New | 1.66% | +1.66 |
| CANG Cango Inc./KY - ADR | New | 1.39% | +1.39 |
| TUYA Tuya Inc. | New | 0.45% | +0.45 |
| KC Kingsoft Cloud Holdings-ADR | New | 0.43% | +0.43 |
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 |