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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
+40.13%
1 Year Est. Return
+196.18%
3 Year Est. Return
+563.59%
5 Year Est. Return
+1,128.92%
10 Year Est. Return
–
AUM
$610M
AUM Growth
+$344M
Cap. Flow
+$239M
Cap. Flow %
39.19%
Top 10 Hldgs %
79.62%
Holding
37
New
12
Increased
5
Reduced
5
Closed
15

Top Buys

Rank Stock Value
1
ALAB icon
Astera Labs
ALAB
+$93.3M
2
AMD icon
Advanced Micro Devices
AMD
+$54.5M
3
MRVL icon
Marvell Technology
MRVL
+$42.1M
4
CRDO icon
Credo Technology Group
CRDO
+$39.7M
5
ALB icon
Albemarle
ALB
+$31M

Top Sells

Rank Stock Value
1
VRT icon
Vertiv
VRT
+$33.4M
2
QCOM icon
Qualcomm
QCOM
+$14.9M
3
GEHC icon
GE HealthCare
GEHC
+$13.8M
4
CFLT
Confluent
CFLT
+$13M
5
BTDR icon
Bitdeer Technologies
BTDR
+$12M

Sector Composition

Rank Sector Weight
1 Technology 81.22%
2 Materials 8.74%
3 Communication Services 5.29%
4 Financials 1.83%
5 Consumer Discretionary 1.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CFLT
26
DELISTED
Confluent
CFLT
– –
-554,136
Closed -$13M
DDOG icon
27
Datadog
DDOG
$87.9B
– –
-24,700
Closed -$2.45M
EPAM icon
28
EPAM Systems
EPAM
$4.69B
– –
-38,700
Closed -$6.53M
GEHC icon
29
GE HealthCare
GEHC
$27.6B
– –
-170,600
Closed -$13.8M
INTC icon
30
Intel
INTC
$466B
– –
-137,600
Closed -$3.12M
NKE icon
31
Nike
NKE
$61.9B
– –
-160,200
Closed -$10.2M
NTES icon
32
NetEase
NTES
$76.5B
– –
-54,000
Closed -$5.56M
QCOM icon
33
Qualcomm
QCOM
$176B
– –
-97,100
Closed -$14.9M
RBLX icon
34
Roblox
RBLX
$34B
– –
-188,900
Closed -$11M
VRT icon
35
Vertiv
VRT
$112B
– –
-462,450
Closed -$33.4M
WDC icon
36
Western Digital
WDC
$179B
– –
-57,900
Closed -$2.34M
SNDK
37
Sandisk
SNDK
$213B
– –
-53,266
Closed -$2.54M
1
2

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FengHe Fund Management's Q2 2025 Portfolio in Review

As of Q2 2025, FengHe Fund Management held 37 positions worth $610M, up 129% from $267M the previous quarter. Its ten largest holdings account for 80% of the portfolio.

FengHe Fund Management deployed $239M of net new capital in Q2 2025, opening 12 new positions and adding to 5 existing holdings. Its largest new stake was Astera Labs: 1,180,848 shares worth $107M.

By sector, the portfolio is most concentrated in Technology at 81% of assets, up from 60% a quarter earlier, followed by Materials and Communication Services.

On the sell side, the largest reduction was Bitdeer Technologies, an estimated $12M trimmed.

  • FengHe Fund Management's largest Q2 2025 buy was Astera Labs: 1,180,848 shares worth $107M.
  • FengHe Fund Management added most to Advanced Micro Devices in Q2 2025, an estimated $54.5M increase.
  • FengHe Fund Management's biggest Q2 2025 reduction was Bitdeer Technologies, cutting an estimated $12M.
  • FengHe Fund Management fully exited Vertiv in Q2 2025, selling an estimated $33.4M.
  • FengHe Fund Management's ten largest holdings make up 80% of its $610M portfolio in Q2 2025.
  • FengHe Fund Management opened 12 new positions and closed 15 in Q2 2025.
  • FengHe Fund Management's portfolio value rose 129% quarter-over-quarter to $610M.

Based on FengHe Fund Management's 13F filing for Q2 2025, filed 18 Jul 2025.