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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
+11.18%
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
$1.62B
AUM Growth
-$129M
Cap. Flow
+$199M
Cap. Flow %
12.26%
Top 10 Hldgs %
77.31%
Holding
39
New
4
Increased
8
Reduced
9
Closed
3

Top Buys

Rank Stock Value
1
SABR icon
Sabre
SABR
+$20.6M
2
BILI icon
Bilibili
BILI
+$16.2M
3
VRDN icon
Viridian Therapeutics
VRDN
+$6.71M
4
AKRO
Akero Therapeutics
AKRO
+$3.31M
5
NOAH
Noah Holdings
NOAH
+$491K

Top Sells

Rank Stock Value
1
ACMR icon
ACM Research
ACMR
+$80.7M
2
GBT
Global Blood Therapeutics, Inc.
GBT
+$48M
3
ZH
Zhihu
ZH
+$19.8M
4
ISEE
IVERIC bio, Inc. Common Stock
ISEE
+$19M
5
JD icon
JD.com
JD
+$17.8M

Sector Composition

Rank Sector Weight
1 Healthcare 13.3%
2 Consumer Discretionary 12.29%
3 Communication Services 12.11%
4 Technology 8.26%
5 Industrials 7.67%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JD icon
1
CALL
JD.com
JD
$40B
$339M 20.96%
6,748,900
+5,127,400
+316% +$304M
BILI icon
2
CALL
Bilibili
BILI
$7.55B
$178M 10.96%
11,589,500
+3,738,500
+48% +$85.1M
BILI icon
3
Bilibili
BILI
$7.55B
$157M 9.7%
10,250,171
+711,400
+7% +$16.2M
HTHT icon
4
Huazhu Hotels Group
HTHT
$12.8B
$103M 6.36%
3,070,910
– –
EDU icon
5
New Oriental
EDU
$7.82B
$94.5M 5.83%
3,942,372
– –
NOAH
6
Noah Holdings
NOAH
$610M
$88.8M 5.48%
6,719,722
+28,900
+0.4% +$491K
JD icon
7
JD.com
JD
$40B
$87.8M 5.42%
1,745,540
-299,792
-15% -$17.8M
AKRO
8
DELISTED
Akero Therapeutics
AKRO
$71.5M 4.41%
2,099,146
+216,448
+11% +$3.31M
HOLI
9
DELISTED
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
$67.8M 4.18%
3,963,836
– –
ISEE
10
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
$64.8M 4%
3,613,254
-1,445,331
-29% -$19M
TDG icon
11
TransDigm Group
TDG
$67.9B
$56.5M 3.49%
107,612
-17,615
-14% -$10.5M
SABR icon
12
Sabre
SABR
$684M
$53.7M 3.31%
10,421,742
+3,086,600
+42% +$20.6M
PENG
13
Penguin Solutions Inc
PENG
$3.1B
$46.9M 2.89%
2,953,992
– –
DNLI icon
14
Denali Therapeutics
DNLI
$3.7B
$31.1M 1.92%
1,014,684
– –
JOYY
15
JOYY Inc
JOYY
$3.53B
$28.5M 1.76%
1,096,960
– –
HIMX
16
Himax Technologies
HIMX
$2.23B
$24.8M 1.53%
5,127,716
-1,295,729
-20% -$8.26M
TAL icon
17
CALL
TAL Education Group
TAL
$5.68B
$19.9M 1.23%
4,026,100
+3,213,200
+395% +$15.9M
ACMR icon
18
CALL
ACM Research
ACMR
$5.8B
$17.4M 1.07%
+1,395,700
New +$22.7M
BEAM icon
19
Beam Therapeutics
BEAM
$2.83B
$17.3M 1.07%
363,800
– –
ZH
20
Zhihu
ZH
$273M
$10.5M 0.65%
1,657,432
-2,452,760
-60% -$19.8M
IVA
21
Inventiva
IVA
$1.09B
$10.4M 0.64%
2,644,926
+4,673
+0.2% +$21.9K
TAL icon
22
TAL Education Group
TAL
$5.68B
$10.1M 0.63%
2,052,400
-1,675,600
-45% -$8.31M
VRDN icon
23
Viridian Therapeutics
VRDN
$1.99B
$7.65M 0.47%
+373,051
New +$6.71M
PETQ
24
DELISTED
PetIQ, Inc. Class A Common Stock
PETQ
$7.37M 0.45%
1,067,887
– –
GBIO
25
DELISTED
Generation Bio
GBIO
$5.3M 0.33%
99,786
-159,977
-62% -$10M
1
2

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Yiheng Capital Management's Q3 2022 Portfolio in Review

As of Q3 2022, Yiheng Capital Management held 39 positions worth $1.62B, down 7.4% from $1.75B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Yiheng Capital Management deployed $199M of net new capital in Q3 2022, opening 4 new positions and adding to 8 existing holdings. Its largest new stake was Viridian Therapeutics: 373,051 shares worth $7.65M.

By sector, the portfolio is most concentrated in Healthcare at 13% of assets, up from 12% a quarter earlier, followed by Consumer Discretionary and Communication Services.

On the sell side, the largest reduction was ACM Research, an estimated $80.7M trimmed.

  • Yiheng Capital Management's largest Q3 2022 buy was Viridian Therapeutics: 373,051 shares worth $7.65M.
  • Yiheng Capital Management added most to Sabre in Q3 2022, an estimated $20.6M increase.
  • Yiheng Capital Management's biggest Q3 2022 reduction was ACM Research, cutting an estimated $80.7M.
  • Yiheng Capital Management fully exited Global Blood Therapeutics, Inc. in Q3 2022, selling an estimated $48M.
  • Yiheng Capital Management's ten largest holdings make up 77% of its $1.62B portfolio in Q3 2022.
  • Yiheng Capital Management opened 4 new positions and closed 3 in Q3 2022.
  • Yiheng Capital Management's portfolio value fell 7.4% quarter-over-quarter to $1.62B.

Based on Yiheng Capital Management's 13F filing for Q3 2022, filed 14 Nov 2022.