Skip to content
Disclosery

HCEP Management Ltd

Follow

13F filer, CIK 1822015, HONG KONG, Hong Kong

HCEP Management Ltd reported $172,626,892 across 13 holdings for the quarter ended 2025-03-31, in a 13F-HR filed 2025-05-14. Its ten largest share positions make up 97.34% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001822015-25-000006

Period
2025-03-31
Reported value
$173M
Holdings
13
Top 10 weight
97.34%
New
7
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BABAnew+433,147$57.3M
TCOMnew+240,000$15.3M
ProShares Ultra VIX Short-T…new+582,010$13.6M
VNETadded+1,055,609$8.66M
QFINnew+175,581$7.89M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
BZexited-3,000,000-$41.4M
BTDRexited-533,054-$11.6M
MNSOreduced-425,250-$7.86M
TALreduced-450,000-$5.94M
KCexited-50,965-$535K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2025

Share positions as resolved from 13F-HR 0001822015-25-000006, largest first. % of portfolio is the value over $172,626,892, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
BABAALIBABA GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 433,147 shares 433,147$57.3M33.18%newTimeline
TALTAL ED GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,525,775 shares; 2024Q4: 2,400,000 shares; 2025Q1: 1,950,000 shares 1,950,000$25.8M14.92%-450,000Timeline
MNSOMINISO GROUP HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,700,000 shares; 2025Q1: 1,274,750 shares 1,274,750$23.6M13.65%-425,250Timeline
TCOMTRIP COM GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 240,000 shares 240,000$15.3M8.84%newTimeline
ProShares Ultra VIX Short-T…ProShares Ultra VIX Short-Term Fu…Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 582,010 shares 582,010$13.6M7.9%new
VNETVNET GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 525,527 shares; 2025Q1: 1,581,136 shares 1,581,136$13M7.51%+1,055,609Timeline
QFINQFIN HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 175,581 shares 175,581$7.89M4.57%newTimeline
APIAGORA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 500,000 shares; 2025Q1: 1,263,482 shares 1,263,482$5.08M2.94%+763,482Timeline
TUYATUYA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 317,204 shares; 2025Q1: 1,312,706 shares 1,312,706$3.98M2.3%+995,502Timeline
LXLEXINFINTECH HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 260,384 shares 260,384$2.63M1.52%newTimeline
Cango Inc/KYCango Inc/KYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 394,900 shares; 2025Q1: 480,906 shares 480,906$1.82M1.06%+86,006
INTCINTEL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 77,080 shares 77,080$1.75M1.01%newTimeline
ACMRACM RESH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q2: restricted; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 43,650 shares 43,650$1.02M0.59%newTimeline

Sold out in Q1 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
BZKANZHUN LIMITED3,000,000$41.4Mshares
BTDRBITDEER TECHNOLOGIES GROUP533,054$11.6Mshares
KCKINGSOFT CLOUD HLDGS LTD50,965$535Kshares

How Q1 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001822015-25-000006 base2025-05-14acceptance time not in the bulk data set