HM
HCEP Management Ltd 13F Disclosure (Q2 2026) — Portfolio & Holdings
HCEP Management LtdCIK: 0001822015
Concentrated strategySector-focusedMomentum follower
Total reported value
$61.3M
Reporting period: 2026-06-30 · Number of holdings: 4
HCEP Management Ltd disclosed 4 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $61.3M and a quarterly turnover rate of 61.6%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 61.65
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 8
- Sizing Uniformity
- 89.65
HCEP Management Ltd's disclosed holdings carry a Herfindahl concentration index of 0.451 — mathematically equivalent to about 2 equally-sized positions, well below its 4 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.03), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 33.3 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd TSM
+3.0% $12.2M
Trim BABA
-54.1% -$16.6M
Trim MNSO
-37.4% -$8.1M
Trim UVXY
0.0% -$6.8M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 63.70% | +30.42% | +2.97% | |
| 2 | BABA | Alibaba Group Holding-sp Adr | Stock-Consumer Disc | 14.70% | -17.12% | -54.07% | |
| 3 | MNSO | Miniso Group Holding Ltd-adr | Stock-Other | 11.57% | -7.30% | -37.39% | |
| 4 | UVXY | Proshares Ultra Vix St Futur | ETF-Other | 10.03% | -6.00% | — |
Portfolio Performance
Performance for Q3 2026
-7.6%
Performance Last 4 Quarters
-24.9%
- Stdev
- +31.3%
- Beta
- -0.2
- Alpha
- +5.6%
- Max Drawdown
- -35.6%
- Annualized Perf
- -3%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +0.08
- Stutzer
- +0.02
- Treynor
- -0.08
- Sterling
- -0.08
- Calmar
- -0.08
- Information Ratio
- -0.53
- Tracking Error
- +34.8%
- Stdev Down
- +20.4%
- Winning Months %
- +47.2%
- Losing Months %
- +52.8%
- Best 12 Months
- +46%
- Worst 12 Months
- -24.9%
- Efficiency Ratio
- +0.03
- Sharpe
- +0.05
- Stdev Sectors
- +31.2%
- Skewness
- +0.41
- Kurtosis
- +0.53
- Upside Potential
- +2.11
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 4 | $61.3M | 62 | ||
| 2026 Q1 | 4 | $80.7M | 94 | ||
| 2025 Q4 | 4 | $122.6M | 63 | ||
| 2025 Q3 | 10 | $176.1M | 93 | ||
| 2025 Q2 | 9 | $124.4M | 0 | ||
| 2025 Q1 | 13 | $172.6M | 100 | ||
| 2024 Q4 | 9 | $125.0M | 0 | ||
| 2024 Q3 | 7 | $274.4M | 0 | ||
| 2024 Q2 | 9 | $372.9M | 0 | ||
| 2024 Q1 | 16 | $532.0M | 0 | ||
| 2023 Q4 | 16 | $479.6M | 0 | ||
| 2023 Q3 | 15 | $385.7M | 0 | ||
| 2023 Q2 | 12 | $527.0M | 0 | ||
| 2023 Q1 | 10 | $505.4M | 0 | ||
| 2022 Q4 | 7 | $400.0M | 0 | ||
| 2022 Q3 | 4 | $128.2M | 0 | ||
| 2022 Q2 | 5 | $147.9M | 0 | ||
| 2022 Q1 | 6 | $152.9M | 0 | ||
| 2021 Q4 | 5 | $164.7M | 0 | ||
| 2021 Q3 | 2 | $47.2M | 0 | ||
| 2021 Q2 | 5 | $126.7M | 100 | ||
| 2021 Q1 | 7 | $136.2M | 54 | ||
| 2020 Q4 | 6 | $174.3M | 0 |
Holding changes this quarter
HCEP Management Ltd's most significant position changes for 2026-06-30: Add: Taiwan Semiconductor-sp Adr (TSM) — shares +2.97%; Trim: Alibaba Group Holding-sp Adr (BABA) — shares -54.07%; Trim: Miniso Group Holding Ltd-adr (MNSO) — shares -37.39%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TSM | Taiwan Semiconductor-sp Adr | +30.4% | +2.97% | Add |
| 2 | UVXY | Proshares Ultra Vix St Futur | -6% | — | Unchanged |
| 3 | MNSO | Miniso Group Holding Ltd-adr | -7.3% | -37.39% | Trim |
| 4 | BABA | Alibaba Group Holding-sp Adr | -17.1% | -54.07% | Trim |
Filing History
FAQ
What is HCEP Management Ltd and what type of investor is it?
HCEP Management Ltd is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $61.3M, spread across 4 disclosed positions.
What are HCEP Management Ltd's largest equity positions?
Based on the latest 13F filing, HCEP Management Ltd's top holdings by market value are:
1. Taiwan Semiconductor-sp Adr (TSM) — $39.1M (63.7%)
2. Alibaba Group Holding-sp Adr (BABA) — $9.0M (14.7%)
3. Miniso Group Holding Ltd-adr (MNSO) — $7.1M (11.6%)
4. Proshares Ultra Vix St Futur (UVXY) — $6.2M (10.0%)
What changes did HCEP Management Ltd make in its most recent portfolio filing?
In the latest reported quarter, HCEP Management Ltd made 3 notable position adjustments: 0 new positions were initiated, 1 existing holdings were added to, 2 positions were partially reduced, and 0 were completely exited. The largest of these moves: Add: Taiwan Semiconductor-sp Adr (TSM) — shares +2.97%; Trim: Alibaba Group Holding-sp Adr (BABA) — shares -54.07%; Trim: Miniso Group Holding Ltd-adr (MNSO) — shares -37.39%
What sectors does HCEP Management Ltd focus on?
HCEP Management Ltd is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 81.2%
• Consumer Discretionary: 18.8%
Investment Profile
HCEP Management Ltd returned an annualized -3.0% over the trailing 36 months — outperforming the S&P 500 by 5.6 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of -0.20 (less volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is concentrated and fast-trading, with 81.2% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 62 over the past 4 quarters — a shift toward more active trading.
It has trimmed its BABA position for two straight quarters, cutting it by $61.7M while still holding $9.0M.
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