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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
+1.61%
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
$2.48B
AUM Growth
+$280M
Cap. Flow
+$348M
Cap. Flow %
14%
Top 10 Hldgs %
82.7%
Holding
32
New
6
Increased
9
Reduced
1
Closed
4

Top Buys

1
TAL icon
TAL Education Group
TAL
+$79.4M
2
ACMR icon
ACM Research
ACMR
+$69.6M
3
GBIO
Generation Bio
GBIO
+$42.4M
4
JOYY
JOYY Inc
JOYY
+$39.3M
5
AKRO
Akero Therapeutics
AKRO
+$34.6M

Top Sells

1
NFH
New Frontier Health Corporation Ordinary Shares
NFH
+$15.7M
2
BILL icon
BILL Holdings
BILL
+$14.8M
3
JT
Jianpu Technology Inc. American Depositary Shares, each representing twenty Class A Ordinary Shares
JT
+$647K
4
TUYA
Tuya Inc
TUYA
+$254K

Sector Composition

1 Communication Services 25.9%
2 Technology 20.88%
3 Consumer Discretionary 18.32%
4 Financials 12.87%
5 Industrials 8.6%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BILI icon
1
Bilibili
BILI
$7.52B
$592M 23.81%
4,856,462
– –
NOAH
2
Noah Holdings
NOAH
$603M
$314M 12.63%
6,646,922
– –
JD icon
3
JD.com
JD
$40.2B
$178M 7.18%
2,236,532
+200,000
+10% +$15.1M
TDG icon
4
TransDigm Group
TDG
$69.1B
$169M 6.82%
261,700
– –
HTHT icon
5
Huazhu Hotels Group
HTHT
$12.9B
$162M 6.53%
3,070,910
– –
HIMX
6
Himax Technologies
HIMX
$2.22B
$150M 6.03%
8,990,293
+800,800
+10% +$10.6M
TAL icon
7
TAL Education Group
TAL
$5.62B
$146M 5.87%
5,777,766
+1,776,800
+44% +$79.4M
SABR icon
8
Sabre
SABR
$680M
$145M 5.82%
11,586,111
– –
SIMO icon
9
Silicon Motion
SIMO
$8.91B
$113M 4.55%
1,762,123
+436,800
+33% +$28.7M
ACMR icon
10
ACM Research
ACMR
$5.79B
$86.3M 3.47%
+2,532,600
New +$69.6M
NIU
11
Niu Technologies
NIU
$201M
$73.8M 2.97%
2,261,315
– –
GBT
12
DELISTED
Global Blood Therapeutics, Inc.
GBT
$44.7M 1.8%
1,275,800
+326,832
+34% +$12.8M
HOLI
13
DELISTED
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
$44.3M 1.78%
2,974,405
+12,800
+0.4% +$172K
GBIO
14
DELISTED
Generation Bio
GBIO
$38.1M 1.53%
+141,648
New +$42.4M
AKRO
15
DELISTED
Akero Therapeutics
AKRO
$37.2M 1.5%
1,498,938
+1,230,656
+459% +$34.6M
ISEE
16
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
$31.9M 1.28%
5,055,485
+2,271,402
+82% +$14.7M
JOYY
17
JOYY Inc
JOYY
$3.53B
$30.6M 1.23%
+463,133
New +$39.3M
PETQ
18
DELISTED
PetIQ, Inc. Class A Common Stock
PETQ
$26.5M 1.07%
686,987
– –
RERE
19
ATRenew
RERE
$866M
$26.2M 1.05%
+1,750,000
New +$25.5M
MOMO
20
Hello Group
MOMO
$886M
$21.2M 0.85%
1,385,546
– –
VECO icon
21
Veeco
VECO
$3.23B
$14.9M 0.6%
621,470
+395,785
+175% +$9.07M
TOUR
22
Tuniu
TOUR
$55.2M
$14.5M 0.58%
610,554
– –
AIU
23
DELISTED
Meta Data Limited American Depositary Shares, each representing ten (10) Class A Ordinary Shares
AIU
$9.1M 0.37%
59,198
– –
NFH
24
DELISTED
New Frontier Health Corporation Ordinary Shares
NFH
$6.18M 0.25%
553,537
-1,399,259
-72% -$15.7M
MYND
25
Mynd.ai
MYND
$18.3M
$5.99M 0.24%
137,455
– –
1
2

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CP
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MIM
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CC
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MWM
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RF
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CFS
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ERFOTCOFW
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Yiheng Capital Management's Q2 2021 Portfolio in Review

As of Q2 2021, Yiheng Capital Management held 32 positions worth $2.48B, up 13% from $2.2B the previous quarter. Its ten largest holdings account for 83% of the portfolio.

Yiheng Capital Management deployed $348M of net new capital in Q2 2021, opening 6 new positions and adding to 9 existing holdings. Its largest new stake was ACM Research: 2,532,600 shares worth $86.3M.

By sector, the portfolio is most concentrated in Communication Services at 26% of assets, up from 25% a quarter earlier, followed by Technology and Consumer Discretionary.

On the sell side, the largest reduction was New Frontier Health Corporation Ordinary Shares, an estimated $15.7M trimmed.

  • Yiheng Capital Management's largest Q2 2021 buy was ACM Research: 2,532,600 shares worth $86.3M.
  • Yiheng Capital Management added most to TAL Education Group in Q2 2021, an estimated $79.4M increase.
  • Yiheng Capital Management's biggest Q2 2021 reduction was New Frontier Health Corporation Ordinary Shares, cutting an estimated $15.7M.
  • Yiheng Capital Management fully exited BILL Holdings in Q2 2021, selling an estimated $14.8M.
  • Yiheng Capital Management's ten largest holdings make up 83% of its $2.48B portfolio in Q2 2021.
  • Yiheng Capital Management opened 6 new positions and closed 4 in Q2 2021.
  • Yiheng Capital Management's portfolio value rose 13% quarter-over-quarter to $2.48B.

Based on Yiheng Capital Management's 13F filing for Q2 2021, filed 16 Aug 2021.