YCM
Yiheng Capital Management Portfolio holdings
AUM
$291M
Turnover
20.69%
1-Year Est. Return
19.43%
This Fund
S&P 500
This Quarter
Est. Return
+5.03%
1 Year Est. Return
+19.43%
3 Year Est. Return
+81.96%
5 Year Est. Return
+61.91%
10 Year Est. Return
+930.57%
AUM
$291M
AUM Growth
+$60.6M
(+26%)
Cap. Flow
+$779K
Cap. Flow
% of AUM
0.27%
Top 10 Holdings %
Top 10 Hldgs %
73.97%
Holding
29
New
5
Increased
5
Reduced
5
Closed
1
Avg Time Held Equity + Options
2.9
years
Top 10 Avg Time Held Equity + Options
4
years
Top 20 Avg Time Held Equity + Options
2.7
years
Avg Time Held Equity only
3.2
years
Top 10 Avg Time Held Equity only
4.5
years
Top 20 Avg Time Held Equity only
3
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bilibili
BILI
|
+$15.2M |
| 2 |
Power Solutions International
PSIX
|
+$7.34M |
| 3 |
Viridian Therapeutics
VRDN
|
+$3.09M |
| 4 |
BioAge Labs
BIOA
|
+$3.08M |
| 5 |
Zepp Health
ZEPP
|
+$1.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
New Oriental
EDU
|
+$19.1M |
| 2 |
Hinge Health
HNGE
|
+$7.64M |
| 3 |
Silvaco Group
SVCO
|
+$1.97M |
| 4 |
Kymera Therapeutics
KYMR
|
+$859K |
| 5 |
Cellebrite
CLBT
|
+$634K |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Financials | 23.04% |
| 2 | Miscellaneous | 19.48% |
| 3 | Consumer Discretionary | 15.26% |
| 4 | Healthcare | 12.26% |
| 5 | Technology | 11.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Noah Holdings
NOAH
$505M
| $67.1M | 23.04% |
6,717,351
| – | – |
2015 Q4
42 quarters
|
|
|
2
Bilibili
BILI
$5.88B
| $25.4M | 8.71% |
1,489,815
+749,900
| +101% | +$15.2M |
2018 Q3
31 quarters
|
|
|
3
CALL
New Oriental
EDU
$8.93B
| $24.6M | 8.45% |
+536,351
| New | +$27.3M |
2026 Q2
0 quarters
|
|
4
CALL
JD.com
JD
$36B
| $21.5M | 7.39% |
+8,443
| New | +$249K |
2026 Q2
0 quarters
|
|
|
5
JD.com
JD
$36B
| $15M | 5.17% |
590,513
+3,000
| +0.5% | +$88.4K |
2015 Q4
42 quarters
|
|
6
Huazhu Hotels Group
HTHT
$13.9B
| $13.5M | 4.63% |
323,371
| – | – |
2015 Q4
42 quarters
|
|
|
7
Hinge Health
HNGE
$8.47B
| $13M | 4.45% |
156,190
-140,663
| -47% | -$7.64M |
2026 Q1
1 quarter
|
|
|
8
Silvaco Group
SVCO
$222M
| $12.5M | 4.29% |
906,381
-189,901
| -17% | -$1.97M |
2025 Q1
5 quarters
|
|
9
ATRenew
RERE
$882M
| $12.2M | 4.2% |
3,163,117
| – | – |
2021 Q2
20 quarters
|
|
|
10
CALL
Bilibili
BILI
$5.88B
| $10.6M | 3.64% |
+6,230
| New | +$126K |
2026 Q2
0 quarters
|
|
11
BILL Holdings
BILL
$3.77B
| $8.06M | 2.77% |
222,820
| – | – |
2026 Q1
1 quarter
|
|
|
12
New Oriental
EDU
$8.93B
| $7.51M | 2.58% |
1,636
-374,915
| -100% | -$19.1M |
2021 Q3
19 quarters
|
|
|
13
Viridian Therapeutics
VRDN
$2.08B
| $7.36M | 2.53% |
400,464
+191,729
| +92% | +$3.09M |
2022 Q3
15 quarters
|
|
|
14
Kymera Therapeutics
KYMR
$8.88B
| $7.27M | 2.5% |
63,440
-10,000
| -14% | -$859K |
2025 Q1
5 quarters
|
|
15
TAL Education Group
TAL
$6.94B
| $7.27M | 2.49% |
759,240
| – | – |
2015 Q4
42 quarters
|
|
16
JOYY Inc
JOYY
$4.03B
| $5.65M | 1.94% |
85,583
| – | – |
2026 Q1
1 quarter
|
|
|
17
Power Solutions International
PSIX
$1.07B
| $5.19M | 1.78% |
+133,500
| New | +$7.34M |
2026 Q2
0 quarters
|
|
18
Pony AI Inc
PONY
$2.25B
| $4.54M | 1.56% |
653,215
| – | – |
2025 Q3
3 quarters
|
|
|
19
BioAge Labs
BIOA
$249M
| $4.18M | 1.43% |
+170,532
| New | +$3.08M |
2026 Q2
0 quarters
|
|
20
Full Truck Alliance
YMM
$8.86B
| $4.17M | 1.43% |
513,248
| – | – |
2025 Q4
2 quarters
|
|
21
Trip.com Group
TCOM
$24.5B
| $3.51M | 1.21% |
88,112
| – | – |
2026 Q1
1 quarter
|
|
22
Yatsen Holding
YSG
$235M
| $3M | 1.03% |
946,193
+148,327
| +19% | +$448K |
2024 Q4
6 quarters
|
|
23
Agora
API
$365M
| $2.9M | 0.99% |
725,795
| – | – |
2025 Q1
5 quarters
|
|
24
DBV Technologies S.A. American Depositary Shares
DBVT
$557M
| $2.79M | 0.96% |
170,142
| – | – |
2023 Q3
11 quarters
|
|
|
25
Zepp Health
ZEPP
$50.6M
| $1.15M | 0.39% |
220,501
+162,770
| +282% | +$1.7M |
2026 Q1
1 quarter
|
|
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Yiheng Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, Yiheng Capital Management held 29 positions worth $291M, up 26% from $231M the previous quarter. Its ten largest holdings account for 74% of the portfolio.
Yiheng Capital Management's Q2 2026 filing shows 5 new, 5 increased, 5 reduced and 1 closed positions. Its largest new stake was Power Solutions International: 133,500 shares worth $5.19M. The largest sale was New Oriental, an estimated $19.1M.
By sector, the portfolio is most concentrated in Financials at 23% of assets, down from 29% a quarter earlier, followed by Miscellaneous and Consumer Discretionary.
- Yiheng Capital Management's largest Q2 2026 buy was Power Solutions International: 133,500 shares worth $5.19M.
- Yiheng Capital Management added most to Bilibili in Q2 2026, an estimated $15.2M increase.
- Yiheng Capital Management's biggest Q2 2026 reduction was New Oriental, cutting an estimated $19.1M.
- Yiheng Capital Management fully exited Cellebrite in Q2 2026, selling an estimated $634K.
- Yiheng Capital Management's ten largest holdings make up 74% of its $291M portfolio in Q2 2026.
- Yiheng Capital Management opened 5 new positions and closed 1 in Q2 2026.
- Yiheng Capital Management's portfolio value rose 26% quarter-over-quarter to $291M.
Based on Yiheng Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.