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YCM
Yiheng Capital Management Portfolio holdings
AUM
$231M
1-Year Est. Return
29.07%
This Fund
S&P 500
This Quarter
Est. Return
-2.9%
1 Year Est. Return
+29.07%
3 Year Est. Return
+63.69%
5 Year Est. Return
+56.64%
10 Year Est. Return
+851.36%
AUM
$1.96B
AUM Growth
-$71.4M
(-3.5%)
Cap. Flow
+$156M
Cap. Flow
% of AUM
7.94%
Top 10 Holdings %
Top 10 Hldgs %
74.65%
Holding
36
New
6
Increased
11
Reduced
4
Closed
4
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bilibili
BILI
|
+$116M |
| 2 |
ACM Research
ACMR
|
+$54.1M |
| 3 |
ZH
Zhihu
ZH
|
+$29M |
| 4 |
HOLI
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
|
+$16.4M |
| 5 |
Denali Therapeutics
DNLI
|
+$15.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TAL Education Group
TAL
|
+$57.2M |
| 2 |
VISN
Vistance Networks Inc
VISN
|
+$27.8M |
| 3 |
NIU
Niu Technologies
NIU
|
+$22.4M |
| 4 |
TOUR
Tuniu
TOUR
|
+$9.22M |
| 5 |
Sabre
SABR
|
+$7.19M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Technology | 29.86% |
| 2 | Communication Services | 19.16% |
| 3 | Consumer Discretionary | 15.54% |
| 4 | Healthcare | 12.66% |
| 5 | Financials | 10.41% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Vipshop
VIPS
$7.4B
| $3.05M | 0.16% |
+363,400
| New | +$3.8M |
|
|
AIU
27
DELISTED
Meta Data Limited American Depositary Shares, each representing ten (10) Class A Ordinary Shares
AIU
| $2.96M | 0.15% |
59,198
| – | – |
|
|
SQNS
28
Sequans Communications SA
SQNS
$41.8M
| $2.77M | 0.14% |
23,370
| – | – |
|
|
MYND
29
Mynd.ai
MYND
$19.2M
| $2.72M | 0.14% |
137,455
| – | – |
|
|
ALLK
30
DELISTED
Allakos
ALLK
| $174K | 0.01% |
+17,800
| New | +$1.46M |
|
|
ALLK
31
PUT
DELISTED
Allakos
ALLK
| $174K | 0.01% |
+17,800
| New | +$1.46M |
|
|
JT
32
DELISTED
Jianpu Technology Inc. American Depositary Shares, each representing twenty Class A Ordinary Shares
JT
| $26K | ﹤0.01% |
25,702
-223,217
| -90% | -$291K |
|
|
VISN
33
Vistance Networks Inc
VISN
$2.33B
| – | – |
-2,043,700
| Closed | -$27.8M |
|
|
MOMO
34
Hello Group
MOMO
$855M
| – | – |
-407,387
| Closed | -$4.31M |
|
|
TOUR
35
Tuniu
TOUR
$55.9M
| – | – |
-610,554
| Closed | -$9.22M |
|
36
Veeco
VECO
$3.15B
| – | – |
-274,614
| Closed | -$6.1M |
|
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Yiheng Capital Management's Q4 2021 Portfolio in Review
As of Q4 2021, Yiheng Capital Management held 36 positions worth $1.96B, down 3.5% from $2.03B the previous quarter. Its ten largest holdings account for 75% of the portfolio.
Yiheng Capital Management deployed $156M of net new capital in Q4 2021, opening 6 new positions and adding to 11 existing holdings. Its largest new stake was Zhihu: 607,370 shares worth $20.2M.
By sector, the portfolio is most concentrated in Technology at 30% of assets, up from 24% a quarter earlier, followed by Communication Services and Consumer Discretionary.
On the sell side, the largest reduction was TAL Education Group, an estimated $57.2M trimmed.
- Yiheng Capital Management's largest Q4 2021 buy was Zhihu: 607,370 shares worth $20.2M.
- Yiheng Capital Management added most to Bilibili in Q4 2021, an estimated $116M increase.
- Yiheng Capital Management's biggest Q4 2021 reduction was TAL Education Group, cutting an estimated $57.2M.
- Yiheng Capital Management fully exited Vistance Networks Inc in Q4 2021, selling an estimated $27.8M.
- Yiheng Capital Management's ten largest holdings make up 75% of its $1.96B portfolio in Q4 2021.
- Yiheng Capital Management opened 6 new positions and closed 4 in Q4 2021.
- Yiheng Capital Management's portfolio value fell 3.5% quarter-over-quarter to $1.96B.
Based on Yiheng Capital Management's 13F filing for Q4 2021, filed 14 Feb 2022.