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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
-14.74%
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
$2.03B
AUM Growth
-$453M
Cap. Flow
+$199M
Cap. Flow %
9.79%
Top 10 Hldgs %
69.96%
Holding
31
New
3
Increased
8
Reduced
8
Closed
1

Top Buys

1
EDU icon
New Oriental
EDU
+$125M
2
TAL icon
TAL Education Group
TAL
+$76.1M
3
PENG
Penguin Solutions Inc
PENG
+$64.3M
4
VISN
Vistance Networks Inc
VISN
+$35.1M
5
JOYY
JOYY Inc
JOYY
+$34.4M

Top Sells

1
TDG icon
TransDigm Group
TDG
+$71.2M
2
SABR icon
Sabre
SABR
+$40.2M
3
SIMO icon
Silicon Motion
SIMO
+$14.9M
4
JD icon
JD.com
JD
+$14.2M
5
MOMO
Hello Group
MOMO
+$12.3M

Sector Composition

1 Technology 24.17%
2 Communication Services 18.96%
3 Consumer Discretionary 18.39%
4 Financials 12.15%
5 Healthcare 11.18%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BILI icon
1
Bilibili
BILI
$7.55B
$321M 15.82%
4,856,462
– –
NOAH
2
Noah Holdings
NOAH
$610M
$247M 12.15%
6,646,922
– –
JD icon
3
JD.com
JD
$40B
$148M 7.27%
2,043,732
-192,800
-9% -$14.2M
HTHT icon
4
Huazhu Hotels Group
HTHT
$12.8B
$141M 6.93%
3,070,910
– –
SIMO icon
5
Silicon Motion
SIMO
$8.96B
$107M 5.27%
1,551,524
-210,599
-12% -$14.9M
SABR icon
6
Sabre
SABR
$684M
$95.2M 4.69%
8,044,058
-3,542,053
-31% -$40.2M
HIMX
7
Himax Technologies
HIMX
$2.23B
$94.9M 4.67%
8,898,122
-92,171
-1% -$1.18M
ACMR icon
8
ACM Research
ACMR
$5.8B
$92.9M 4.57%
2,532,600
– –
TDG icon
9
TransDigm Group
TDG
$67.9B
$92.3M 4.54%
147,711
-113,989
-44% -$71.2M
ISEE
10
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
$82.2M 4.04%
5,058,585
+3,100
+0.1% +$33.7K
EDU icon
11
New Oriental
EDU
$7.82B
$80.8M 3.98%
+3,942,373
New +$125M
TAL icon
12
TAL Education Group
TAL
$5.68B
$69.5M 3.42%
14,353,366
+8,575,600
+148% +$76.1M
HOLI
13
DELISTED
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
$61.5M 3.03%
2,974,405
– –
PENG
14
Penguin Solutions Inc
PENG
$3.1B
$60.6M 2.98%
2,722,092
+2,684,644
+7,169% +$64.3M
JOYY
15
JOYY Inc
JOYY
$3.53B
$59M 2.91%
1,076,860
+613,727
+133% +$34.4M
NIU
16
Niu Technologies
NIU
$206M
$50.5M 2.49%
2,180,397
-80,918
-4% -$2.16M
GBIO
17
DELISTED
Generation Bio
GBIO
$40.1M 1.97%
159,977
+18,329
+13% +$4.39M
AKRO
18
DELISTED
Akero Therapeutics
AKRO
$34M 1.67%
1,521,190
+22,252
+1% +$504K
GBT
19
DELISTED
Global Blood Therapeutics, Inc.
GBT
$32.5M 1.6%
1,275,800
– –
VISN
20
Vistance Networks Inc
VISN
$2.74B
$27.8M 1.37%
+2,043,700
New +$35.1M
RERE
21
ATRenew
RERE
$857M
$25.4M 1.25%
2,534,481
+784,481
+45% +$8.86M
IVA
22
Inventiva
IVA
$1.09B
$21.3M 1.05%
1,503,654
+1,477,638
+5,680% +$19.5M
PETQ
23
DELISTED
PetIQ, Inc. Class A Common Stock
PETQ
$17.2M 0.84%
686,987
– –
TOUR
24
Tuniu
TOUR
$55.2M
$9.22M 0.45%
610,554
– –
VECO icon
25
Veeco
VECO
$3.19B
$6.1M 0.3%
274,614
-346,856
-56% -$7.73M
1
2

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CP
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MIM
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CC
Citrine Capital San Francisco, California $231M AUM 17.28% 1-Year Est. Return
MWM
Massachusetts Wealth Management North Andover, Massachusetts $231M AUM 33.21% 1-Year Est. Return
RF
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CFS
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ERFOTCOFW
Employees Retirement Fund of the City of Fort Worth Fort Worth, Texas $230M AUM 10.19% 1-Year Est. Return

Yiheng Capital Management's Q3 2021 Portfolio in Review

As of Q3 2021, Yiheng Capital Management held 31 positions worth $2.03B, down 18% from $2.48B the previous quarter. Its ten largest holdings account for 70% of the portfolio.

Yiheng Capital Management deployed $199M of net new capital in Q3 2021, opening 3 new positions and adding to 8 existing holdings. Its largest new stake was New Oriental: 3,942,373 shares worth $80.8M.

By sector, the portfolio is most concentrated in Technology at 24% of assets, up from 21% a quarter earlier, followed by Communication Services and Consumer Discretionary.

On the sell side, the largest reduction was TransDigm Group, an estimated $71.2M trimmed.

  • Yiheng Capital Management's largest Q3 2021 buy was New Oriental: 3,942,373 shares worth $80.8M.
  • Yiheng Capital Management added most to TAL Education Group in Q3 2021, an estimated $76.1M increase.
  • Yiheng Capital Management's biggest Q3 2021 reduction was TransDigm Group, cutting an estimated $71.2M.
  • Yiheng Capital Management fully exited New Frontier Health Corporation Ordinary Shares in Q3 2021, selling an estimated $6.18M.
  • Yiheng Capital Management's ten largest holdings make up 70% of its $2.03B portfolio in Q3 2021.
  • Yiheng Capital Management opened 3 new positions and closed 1 in Q3 2021.
  • Yiheng Capital Management's portfolio value fell 18% quarter-over-quarter to $2.03B.

Based on Yiheng Capital Management's 13F filing for Q3 2021, filed 15 Nov 2021.