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FFM

FengHe Fund Management Portfolio holdings

AUM $1.05B
1-Year Est. Return 316.71%
This Fund
S&P 500
This Quarter Est. Return
+21.21%
1 Year Est. Return
+316.71%
3 Year Est. Return
+901.76%
5 Year Est. Return
+2,139.61%
10 Year Est. Return
–
AUM
$724M
AUM Growth
-$1.05B
Cap. Flow
-$1.16B
Cap. Flow %
-160.09%
Top 10 Hldgs %
71.89%
Holding
48
New
10
Increased
4
Reduced
15
Closed
17

Top Buys

Rank Stock Value
1
MKSI icon
MKS Inc
MKSI
+$103M
2
BWXT icon
BWX Technologies
BWXT
+$79.9M
3
TER icon
Teradyne
TER
+$54.9M
4
ASML icon
ASML
ASML
+$20.3M
5
MOD icon
Modine Manufacturing
MOD
+$11.8M

Top Sells

Rank Stock Value
1
CIEN icon
Ciena
CIEN
+$175M
2
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$123M
3
SNDK
Sandisk
SNDK
+$102M
4
MTSI icon
MACOM Technology Solutions
MTSI
+$93.5M
5
LITE icon
Lumentum
LITE
+$76.6M

Sector Composition

Rank Sector Weight
1 Technology 61.92%
2 Industrials 18.01%
3 Consumer Discretionary 10.81%
4 Communication Services 5.72%
5 Materials 1.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
WWD icon
26
Woodward
WWD
$21.4B
$4.9M 0.68%
+13,700
New +$4.93M
TAL icon
27
TAL Education Group
TAL
$6.87B
$1.84M 0.25%
161,900
-637,295
-80% -$7.17M
JOYY
28
JOYY Inc
JOYY
$3.75B
$1.58M 0.22%
+27,000
New +$1.71M
NTES icon
29
NetEase
NTES
$84.7B
$1.39M 0.19%
12,400
– –
SE icon
30
Sea Limited
SE
$69.5B
$1.31M 0.18%
15,800
+4,300
+37% +$461K
TME icon
31
Tencent Music
TME
$15.6B
$1.16M 0.16%
+125,100
New +$1.85M
APH icon
32
Amphenol
APH
$209B
– –
-190,700
Closed -$25.8M
APP icon
33
Applovin
APP
$116B
– –
-94,010
Closed -$63.3M
ARWR icon
34
Arrowhead Research
ARWR
$12.4B
– –
-266,700
Closed -$17.7M
BA icon
35
Boeing
BA
$185B
– –
-163,900
Closed -$35.6M
COHR icon
36
Coherent
COHR
$74.2B
– –
-28,800
Closed -$5.32M
COIN icon
37
Coinbase
COIN
$40.5B
– –
-12,800
Closed -$2.89M
DQ
38
Daqo New Energy
DQ
$996M
– –
-202,371
Closed -$5.97M
GLW icon
39
Corning
GLW
$143B
– –
-584,500
Closed -$51.2M
KTOS icon
40
Kratos Defense & Security Solutions
KTOS
$11.4B
– –
-464,900
Closed -$35.3M
LLY icon
41
Eli Lilly
LLY
$1.06T
– –
-51,300
Closed -$55.1M
MRK icon
42
Merck
MRK
$318B
– –
-420,400
Closed -$44.3M
MRVL icon
43
Marvell Technology
MRVL
$196B
– –
-39,100
Closed -$3.32M
MSTR icon
44
Strategy Inc
MSTR
$38.4B
– –
-17,900
Closed -$2.72M
U icon
45
Unity
U
$18.9B
– –
-1,732,002
Closed -$76.5M
VRT icon
46
Vertiv
VRT
$105B
– –
-239,800
Closed -$38.8M
WRD
47
WeRide Inc
WRD
$2.07B
– –
-4,175,181
Closed -$36.2M
SNDK
48
Sandisk
SNDK
$177B
– –
-431,700
Closed -$102M
1
2

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ECM
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NRG
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LAM
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BGIM
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FengHe Fund Management's Q1 2026 Portfolio in Review

As of Q1 2026, FengHe Fund Management held 48 positions worth $724M, down 59% from $1.78B the previous quarter. Its ten largest holdings account for 72% of the portfolio.

FengHe Fund Management withdrew a net $1.16B in Q1 2026, closing 17 positions and reducing 15 holdings. Its most notable exit was Sandisk, an estimated $102M position sold in full.

By sector, the portfolio is most concentrated in Technology at 62% of assets, up from 54% a quarter earlier, followed by Industrials and Consumer Discretionary.

Against the trend, FengHe Fund Management opened a new position in MKS Inc worth $105M.

  • FengHe Fund Management's largest Q1 2026 buy was MKS Inc: 456,329 shares worth $105M.
  • FengHe Fund Management added most to ASML in Q1 2026, an estimated $20.3M increase.
  • FengHe Fund Management's biggest Q1 2026 reduction was Ciena, cutting an estimated $175M.
  • FengHe Fund Management fully exited Sandisk in Q1 2026, selling an estimated $102M.
  • FengHe Fund Management's ten largest holdings make up 72% of its $724M portfolio in Q1 2026.
  • FengHe Fund Management opened 10 new positions and closed 17 in Q1 2026.
  • FengHe Fund Management's portfolio value fell 59% quarter-over-quarter to $724M.

Based on FengHe Fund Management's 13F filing for Q1 2026, filed 15 May 2026.