HCEP Management Ltd

CIK

1822015

Location

HONG KONG, K3

Portfolio Value

Micro $67,732,815

Diversification

Highly concentrated

Filing Date

Global Rank

#6,407 / 8,604 ▼ 588 · as of Mar 2026

Top Industry

Semiconductors 39.6%

3Y Alpha vs SPY

-18.3%

Period ended 3 months ago

Filed May 14, 2026 · 55d

22 quarters · since Dec 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+6.9%

SPY

+76.5%

Annualised alpha

-18.6%

Max drawdown

−36.6%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

3 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

39.6%

−29.3 pts

Top 5

100.0%

0.0 pts

Top 10

100.0%

0.0 pts

HHI

3,512

Highly concentrated−1,737

Portfolio Trend

22 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Consumer Cyclical	60.4%	$40,886,067	2
Technology	39.6%	$26,846,748	1

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

No qualifying positions this quarter.

Trimmed

Positions the filer reduced

2 positions

Ticker	Company	Δ Shares	Shares	Value
BABA	Alibaba Group Holding Ltd	−278,142	204,561	$25,664,223
MNSO	MINISO Group Holding Ltd	−51,677	939,620	$15,221,844
No positions match the current search.

New Positions

Positions the filer opened this quarter

1 positions

Ticker	Company	Shares	Value	Open
TSM	Taiwan Semiconductor Manufacturing Co Ltd	79,440	$26,846,748
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
SNPS	Synopsys Inc	28,279	$13,283,211
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

3 positions · $67,732,815 total · as of Mar 31, 2026

All sectors Consumer Cyclical Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
TSM	Taiwan Semiconductor Manufacturing Co Ltd Technology	NEW	79,440	NEW	$26,846,748	NEW	39.64%
BABA	Alibaba Group Holding Ltd Consumer Cyclical	Reduced	204,561	-278,142	$25,664,223	−63.7%	37.89%
MNSO	MINISO Group Holding Ltd Consumer Cyclical	Reduced	939,620	-51,677	$15,221,844	−18.1%	22.47%