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FFM

FengHe Fund Management Portfolio holdings

AUM $724M
1-Year Est. Return 196.18%
This Fund
S&P 500
This Quarter Est. Return
-9.61%
1 Year Est. Return
+196.18%
3 Year Est. Return
+563.59%
5 Year Est. Return
+1,128.92%
10 Year Est. Return
–
AUM
$267M
AUM Growth
-$72.2M
Cap. Flow
-$45.5M
Cap. Flow %
-17.04%
Top 10 Hldgs %
70.44%
Holding
31
New
16
Increased
3
Reduced
5
Closed
6

Top Buys

Rank Stock Value
1
VRT icon
Vertiv
VRT
+$49.2M
2
OLED icon
Universal Display
OLED
+$44.1M
3
CFLT
Confluent
CFLT
+$16M
4
QCOM icon
Qualcomm
QCOM
+$15.8M
5
GEHC icon
GE HealthCare
GEHC
+$14.7M

Top Sells

Rank Stock Value
1
TSM icon
TSMC
TSM
+$58.2M
2
BABA icon
Alibaba
BABA
+$51.3M
3
AMD icon
Advanced Micro Devices
AMD
+$40.4M
4
TAL icon
TAL Education Group
TAL
+$38.4M
5
NTES icon
NetEase
NTES
+$29M

Sector Composition

Rank Sector Weight
1 Technology 60.24%
2 Industrials 12.52%
3 Communication Services 7.88%
4 Consumer Discretionary 6.4%
5 Healthcare 5.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DIS icon
26
Walt Disney
DIS
$168B
– –
-37,800
Closed -$4.21M
GLW icon
27
Corning
GLW
$123B
– –
-581,800
Closed -$27.6M
MSFT icon
28
Microsoft
MSFT
$2.89T
– –
-17,700
Closed -$7.46M
PDD icon
29
Pinduoduo
PDD
$121B
– –
-21,300
Closed -$2.07M
TER icon
30
Teradyne
TER
$52.4B
– –
-115,400
Closed -$14.5M
VSXY
31
Victoria's Secret
VSXY
$6.78B
– –
-58,800
Closed -$2.44M
1
2

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TFHU
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FengHe Fund Management's Q1 2025 Portfolio in Review

As of Q1 2025, FengHe Fund Management held 31 positions worth $267M, down 21% from $339M the previous quarter. Its ten largest holdings account for 70% of the portfolio.

FengHe Fund Management withdrew a net $45.5M in Q1 2025, closing 6 positions and reducing 5 holdings. Its most notable exit was Corning, an estimated $27.6M position sold in full.

By sector, the portfolio is most concentrated in Technology at 60% of assets, down from 64% a quarter earlier, followed by Industrials and Communication Services.

Against the trend, FengHe Fund Management opened a new position in Vertiv worth $33.4M.

  • FengHe Fund Management's largest Q1 2025 buy was Vertiv: 462,450 shares worth $33.4M.
  • FengHe Fund Management added most to Bitdeer Technologies in Q1 2025, an estimated $12.7M increase.
  • FengHe Fund Management's biggest Q1 2025 reduction was TSMC, cutting an estimated $58.2M.
  • FengHe Fund Management fully exited Corning in Q1 2025, selling an estimated $27.6M.
  • FengHe Fund Management's ten largest holdings make up 70% of its $267M portfolio in Q1 2025.
  • FengHe Fund Management opened 16 new positions and closed 6 in Q1 2025.
  • FengHe Fund Management's portfolio value fell 21% quarter-over-quarter to $267M.

Based on FengHe Fund Management's 13F filing for Q1 2025, filed 13 May 2025.