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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
+4.34%
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
$1.66B
AUM Growth
-$346M
Cap. Flow
-$387M
Cap. Flow %
-23.33%
Top 10 Hldgs %
90.1%
Holding
27
New
1
Increased
5
Reduced
2
Closed
4

Top Buys

Rank Stock Value
1
SABR icon
Sabre
SABR
+$31.9M
2
PETQ
PetIQ, Inc. Class A Common Stock
PETQ
+$22.3M
3
NOAH
Noah Holdings
NOAH
+$17M
4
NFH
New Frontier Health Corporation Ordinary Shares
NFH
+$11.3M
5
TDG icon
TransDigm Group
TDG
+$6.24M

Top Sells

Rank Stock Value
1
MTSI icon
MACOM Technology Solutions
MTSI
+$74.7M
2
BIDU icon
Baidu
BIDU
+$63.6M
3
JD icon
JD.com
JD
+$27.8M

Sector Composition

Rank Sector Weight
1 Consumer Discretionary 22.97%
2 Consumer Staples 22.04%
3 Communication Services 17.91%
4 Technology 14.48%
5 Financials 11.88%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TAL icon
1
TAL Education Group
TAL
$5.72B
$333M 20.04%
4,375,661
– –
BILI icon
2
Bilibili
BILI
$7.7B
$277M 16.7%
6,665,084
– –
NOAH
3
Noah Holdings
NOAH
$609M
$183M 11.02%
7,020,585
+575,700
+9% +$17M
JD icon
4
JD.com
JD
$41.3B
$172M 10.37%
2,218,332
-400,000
-15% -$27.8M
HTHT icon
5
Huazhu Hotels Group
HTHT
$12.8B
$133M 8%
3,070,910
– –
TDG icon
6
TransDigm Group
TDG
$67.4B
$124M 7.49%
261,700
+13,265
+5% +$6.24M
SABR icon
7
Sabre
SABR
$680M
$89.4M 5.38%
13,730,969
+4,302,238
+46% +$31.9M
SIMO icon
8
Silicon Motion
SIMO
$8.57B
$74.8M 4.5%
1,979,510
– –
NIU
9
Niu Technologies
NIU
$206M
$67.9M 4.09%
3,538,727
– –
MTSI icon
10
MACOM Technology Solutions
MTSI
$20.6B
$41.7M 2.51%
1,226,826
-2,057,100
-63% -$74.7M
AIU
11
DELISTED
Meta Data Limited American Depositary Shares, each representing ten (10) Class A Ordinary Shares
AIU
$33.2M 2%
59,198
– –
HOLI
12
DELISTED
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
$31.7M 1.91%
2,868,305
+195,994
+7% +$2.32M
HIMX
13
Himax Technologies
HIMX
$2.21B
$24M 1.45%
6,749,527
– –
PETQ
14
DELISTED
PetIQ, Inc. Class A Common Stock
PETQ
$22M 1.33%
+669,687
New +$22.3M
MOMO
15
Hello Group
MOMO
$886M
$19.1M 1.15%
1,385,546
– –
NFH
16
DELISTED
New Frontier Health Corporation Ordinary Shares
NFH
$14.2M 0.86%
1,863,114
+1,377,309
+284% +$11.3M
TOUR
17
Tuniu
TOUR
$55.5M
$7.21M 0.43%
610,554
– –
MYND
18
Mynd.ai
MYND
$18.2M
$4.18M 0.25%
137,455
– –
SQNS
19
Sequans Communications SA
SQNS
$40.7M
$3.49M 0.21%
23,370
– –
ACMR icon
20
ACM Research
ACMR
$5.7B
$2.87M 0.17%
124,434
– –
JT
21
DELISTED
Jianpu Technology Inc. American Depositary Shares, each representing twenty Class A Ordinary Shares
JT
$1.01M 0.06%
248,922
– –
YJ
22
Yunji
YJ
$7.19M
$1.01M 0.06%
13,750
– –
DADA
23
DELISTED
Dada Nexus
DADA
$265K 0.02%
10,000
– –
BIDU icon
24
Baidu
BIDU
$37.4B
– –
-530,582
Closed -$63.6M
GOTU icon
25
PUT
Gaotu Techedu
GOTU
$405M
– –
-3,324,100
Closed -$199M
1
2

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Yiheng Capital Management's Q3 2020 Portfolio in Review

As of Q3 2020, Yiheng Capital Management held 27 positions worth $1.66B, down 17% from $2.01B the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Yiheng Capital Management withdrew a net $387M in Q3 2020, closing 4 positions and reducing 2 holdings. Its most notable exit was Baidu, an estimated $63.6M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 23% of assets, up from 16% a quarter earlier, followed by Consumer Staples and Communication Services.

Against the trend, Yiheng Capital Management opened a new position in PetIQ, Inc. Class A Common Stock worth $22M.

  • Yiheng Capital Management's largest Q3 2020 buy was PetIQ, Inc. Class A Common Stock: 669,687 shares worth $22M.
  • Yiheng Capital Management added most to Sabre in Q3 2020, an estimated $31.9M increase.
  • Yiheng Capital Management's biggest Q3 2020 reduction was MACOM Technology Solutions, cutting an estimated $74.7M.
  • Yiheng Capital Management fully exited Baidu in Q3 2020, selling an estimated $63.6M.
  • Yiheng Capital Management's ten largest holdings make up 90% of its $1.66B portfolio in Q3 2020.
  • Yiheng Capital Management opened 1 new position and closed 4 in Q3 2020.
  • Yiheng Capital Management's portfolio value fell 17% quarter-over-quarter to $1.66B.

Based on Yiheng Capital Management's 13F filing for Q3 2020, filed 16 Nov 2020.