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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
+45.52%
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
$2.01B
AUM Growth
+$735M
Cap. Flow
+$215M
Cap. Flow %
10.73%
Top 10 Hldgs %
81.73%
Holding
29
New
5
Increased
8
Reduced
4
Closed
3

Top Buys

Rank Stock Value
1
TDG icon
TransDigm Group
TDG
+$94M
2
SABR icon
Sabre
SABR
+$66.8M
3
HOLI
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
+$34.7M
4
NOAH
Noah Holdings
NOAH
+$16M
5
HIMX
Himax Technologies
HIMX
+$4.49M

Top Sells

Rank Stock Value
1
BILI icon
Bilibili
BILI
+$46.7M
2
TAL icon
TAL Education Group
TAL
+$19.8M
3
ENPH icon
Enphase Energy
ENPH
+$16.7M
4
JD icon
JD.com
JD
+$15.2M
5
MTSI icon
MACOM Technology Solutions
MTSI
+$449K

Sector Composition

Rank Sector Weight
1 Communication Services 19.83%
2 Consumer Discretionary 16.5%
3 Consumer Staples 16.36%
4 Technology 16.12%
5 Financials 8.38%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BILI icon
1
Bilibili
BILI
$7.55B
$309M 15.39%
6,665,084
-1,437,797
-18% -$46.7M
TAL icon
2
TAL Education Group
TAL
$5.68B
$299M 14.91%
4,375,661
-346,171
-7% -$19.8M
GOTU icon
3
PUT
Gaotu Techedu
GOTU
$408M
$199M 9.94%
3,324,100
+2,800,700
+535% +$111M
NOAH
4
Noah Holdings
NOAH
$610M
$164M 8.18%
6,444,885
+621,225
+11% +$16M
JD icon
5
JD.com
JD
$40B
$158M 7.85%
2,618,332
-300,100
-10% -$15.2M
MTSI icon
6
MACOM Technology Solutions
MTSI
$20.4B
$113M 5.62%
3,283,926
-15,360
-0.5% -$449K
TDG icon
7
TransDigm Group
TDG
$67.9B
$110M 5.47%
+248,435
New +$94M
HTHT icon
8
Huazhu Hotels Group
HTHT
$12.8B
$108M 5.36%
3,070,910
+32,255
+1% +$1.07M
SIMO icon
9
Silicon Motion
SIMO
$8.96B
$96.5M 4.81%
1,979,510
– –
TDG icon
10
CALL
TransDigm Group
TDG
$67.9B
$83.9M 4.18%
+189,800
New +$71.8M
SABR icon
11
Sabre
SABR
$684M
$76M 3.79%
+9,428,731
New +$66.8M
BIDU icon
12
Baidu
BIDU
$36.5B
$63.6M 3.17%
530,582
– –
NIU
13
Niu Technologies
NIU
$206M
$56.6M 2.82%
3,538,727
+1,608
+0% +$16.2K
HOLI
14
DELISTED
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
$35.5M 1.77%
2,672,311
+2,556,012
+2,198% +$34.7M
AIU
15
DELISTED
Meta Data Limited American Depositary Shares, each representing ten (10) Class A Ordinary Shares
AIU
$29.1M 1.45%
59,198
– –
NOAH
16
CALL
Noah Holdings
NOAH
$610M
$28.9M 1.44%
+1,135,700
New +$29.3M
HIMX
17
Himax Technologies
HIMX
$2.23B
$27.9M 1.39%
6,749,527
+1,390,332
+26% +$4.49M
MOMO
18
Hello Group
MOMO
$886M
$24.2M 1.21%
1,385,546
– –
TOUR
19
Tuniu
TOUR
$55.2M
$7.51M 0.37%
610,554
– –
NFH
20
DELISTED
New Frontier Health Corporation Ordinary Shares
NFH
$4.02M 0.2%
485,805
+215,127
+79% +$1.75M
MYND
21
Mynd.ai
MYND
$19.3M
$3.89M 0.19%
137,455
– –
SQNS
22
Sequans Communications SA
SQNS
$43.6M
$3.59M 0.18%
23,370
– –
ACMR icon
23
ACM Research
ACMR
$5.8B
$2.59M 0.13%
124,434
– –
YJ
24
Yunji
YJ
$7.39M
$1.48M 0.07%
13,750
– –
JT
25
DELISTED
Jianpu Technology Inc. American Depositary Shares, each representing twenty Class A Ordinary Shares
JT
$1.29M 0.06%
248,922
+46,341
+23% +$293K
1
2

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Yiheng Capital Management's Q2 2020 Portfolio in Review

As of Q2 2020, Yiheng Capital Management held 29 positions worth $2.01B, up 58% from $1.27B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Yiheng Capital Management deployed $215M of net new capital in Q2 2020, opening 5 new positions and adding to 8 existing holdings. Its largest new stake was TransDigm Group: 248,435 shares worth $110M.

By sector, the portfolio is most concentrated in Communication Services at 20% of assets, down from 22% a quarter earlier, followed by Consumer Discretionary and Consumer Staples.

On the sell side, the largest reduction was Bilibili, an estimated $46.7M trimmed.

  • Yiheng Capital Management's largest Q2 2020 buy was TransDigm Group: 248,435 shares worth $110M.
  • Yiheng Capital Management added most to Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island) in Q2 2020, an estimated $34.7M increase.
  • Yiheng Capital Management's biggest Q2 2020 reduction was Bilibili, cutting an estimated $46.7M.
  • Yiheng Capital Management fully exited Enphase Energy in Q2 2020, selling an estimated $16.7M.
  • Yiheng Capital Management's ten largest holdings make up 82% of its $2.01B portfolio in Q2 2020.
  • Yiheng Capital Management opened 5 new positions and closed 3 in Q2 2020.
  • Yiheng Capital Management's portfolio value rose 58% quarter-over-quarter to $2.01B.

Based on Yiheng Capital Management's 13F filing for Q2 2020, filed 14 Aug 2020.