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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
+29.48%
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
$2.26B
AUM Growth
+$640M
Cap. Flow
+$208M
Cap. Flow %
9.19%
Top 10 Hldgs %
82.07%
Holding
37
New
1
Increased
9
Reduced
6
Closed
4

Top Buys

Rank Stock Value
1
BILI icon
Bilibili
BILI
+$19.1M
2
VRDN icon
Viridian Therapeutics
VRDN
+$13.6M
3
JD icon
JD.com
JD
+$5.78M
4
BEAM icon
Beam Therapeutics
BEAM
+$4.48M
5
GBIO
Generation Bio
GBIO
+$989K

Top Sells

Rank Stock Value
1
JOYY
JOYY Inc
JOYY
+$28.5M
2
AKRO
Akero Therapeutics
AKRO
+$27M
3
HTHT icon
Huazhu Hotels Group
HTHT
+$10.4M
4
ZH
Zhihu
ZH
+$7.38M
5
PETQ
PetIQ, Inc. Class A Common Stock
PETQ
+$7.37M

Sector Composition

Rank Sector Weight
1 Communication Services 12.22%
2 Healthcare 11.01%
3 Consumer Discretionary 10.14%
4 Consumer Staples 6.72%
5 Technology 6.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JD icon
1
CALL
JD.com
JD
$40B
$644M 28.51%
11,477,300
+4,728,400
+70% +$238M
BILI icon
2
Bilibili
BILI
$7.55B
$271M 12.01%
11,451,017
+1,200,846
+12% +$19.1M
BILI icon
3
CALL
Bilibili
BILI
$7.55B
$249M 11.03%
10,519,000
-1,070,500
-9% -$17M
EDU icon
4
New Oriental
EDU
$7.82B
$137M 6.08%
3,942,372
– –
HTHT icon
5
Huazhu Hotels Group
HTHT
$12.8B
$118M 5.23%
2,783,620
-287,290
-9% -$10.4M
JD icon
6
JD.com
JD
$40B
$104M 4.62%
1,860,440
+114,900
+7% +$5.78M
NOAH
7
Noah Holdings
NOAH
$610M
$104M 4.61%
6,719,722
– –
AKRO
8
DELISTED
Akero Therapeutics
AKRO
$80.5M 3.56%
1,468,905
-630,241
-30% -$27M
ISEE
9
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
$77.4M 3.42%
3,613,254
– –
TDG icon
10
TransDigm Group
TDG
$67.9B
$67.8M 3%
107,612
– –
HOLI
11
DELISTED
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
$65.1M 2.88%
3,963,836
– –
SABR icon
12
Sabre
SABR
$684M
$64.4M 2.85%
10,421,742
– –
PENG
13
Penguin Solutions Inc
PENG
$3.1B
$44M 1.95%
2,953,992
– –
TAL icon
14
CALL
TAL Education Group
TAL
$5.68B
$33.8M 1.5%
4,794,700
+768,600
+19% +$4.26M
HIMX
15
Himax Technologies
HIMX
$2.23B
$31.8M 1.41%
5,127,716
– –
DNLI icon
16
Denali Therapeutics
DNLI
$3.7B
$28.2M 1.25%
1,014,684
– –
VRDN icon
17
Viridian Therapeutics
VRDN
$1.99B
$28.1M 1.25%
963,256
+590,205
+158% +$13.6M
NOAH
18
CALL
Noah Holdings
NOAH
$610M
$18.5M 0.82%
1,193,700
+1,164,800
+4,030% +$17M
BEAM icon
19
Beam Therapeutics
BEAM
$2.83B
$18.1M 0.8%
463,800
+100,000
+27% +$4.48M
AKRO
20
CALL
DELISTED
Akero Therapeutics
AKRO
$17.9M 0.79%
326,500
+250,700
+331% +$10.7M
TAL icon
21
TAL Education Group
TAL
$5.68B
$14.5M 0.64%
2,052,400
– –
IVA
22
Inventiva
IVA
$1.09B
$11.8M 0.52%
2,644,926
– –
NIU
23
Niu Technologies
NIU
$206M
$6.08M 0.27%
1,162,675
– –
ACMR icon
24
CALL
ACM Research
ACMR
$5.8B
$5.08M 0.22%
658,300
-737,400
-53% -$6.25M
ZH
25
Zhihu
ZH
$273M
$4.7M 0.21%
603,059
-1,054,373
-64% -$7.38M
1
2

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Yiheng Capital Management's Q4 2022 Portfolio in Review

As of Q4 2022, Yiheng Capital Management held 37 positions worth $2.26B, up 39% from $1.62B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Yiheng Capital Management deployed $208M of net new capital in Q4 2022, opening 1 new position and adding to 9 existing holdings.

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

On the sell side, the largest reduction was Akero Therapeutics, an estimated $27M trimmed.

  • Yiheng Capital Management added most to Bilibili in Q4 2022, an estimated $19.1M increase.
  • Yiheng Capital Management's biggest Q4 2022 reduction was Akero Therapeutics, cutting an estimated $27M.
  • Yiheng Capital Management fully exited JOYY Inc in Q4 2022, selling an estimated $28.5M.
  • Yiheng Capital Management's ten largest holdings make up 82% of its $2.26B portfolio in Q4 2022.
  • Yiheng Capital Management opened 1 new position and closed 4 in Q4 2022.
  • Yiheng Capital Management's portfolio value rose 39% quarter-over-quarter to $2.26B.

Based on Yiheng Capital Management's 13F filing for Q4 2022, filed 14 Feb 2023.