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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
-5.52%
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
$1.85B
AUM Growth
-$679M
Cap. Flow
-$273M
Cap. Flow %
-14.77%
Top 10 Hldgs %
81.53%
Holding
35
New
–
Increased
8
Reduced
5
Closed
4

Top Buys

1
JD icon
JD.com
JD
+$62M
2
INDI icon
indie Semiconductor
INDI
+$12.4M
3
SABR icon
Sabre
SABR
+$5.07M
4
DNLI icon
Denali Therapeutics
DNLI
+$3.82M
5
AKRO
Akero Therapeutics
AKRO
+$3.47M

Top Sells

1
ISEE
IVERIC bio, Inc. Common Stock
ISEE
+$52.2M
2
TDG icon
TransDigm Group
TDG
+$28.5M
3
PENG
Penguin Solutions Inc
PENG
+$17.4M
4
HIMX
Himax Technologies
HIMX
+$9.64M

Sector Composition

1 Consumer Discretionary 12.89%
2 Communication Services 11.62%
3 Healthcare 9.51%
4 Consumer Staples 8.26%
5 Technology 7.92%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JD icon
1
CALL
JD.com
JD
$40.1B
$493M 26.67%
14,456,800
-4,304,800
-23% -$157M
BILI icon
2
CALL
Bilibili
BILI
$7.52B
$192M 10.39%
12,725,500
-2,113,600
-14% -$38.8M
BILI icon
3
Bilibili
BILI
$7.52B
$170M 9.2%
11,274,998
+4,800
+0% +$88.1K
EDU icon
4
New Oriental
EDU
$7.85B
$136M 7.35%
3,442,666
– –
JD icon
5
JD.com
JD
$40.1B
$125M 6.78%
3,675,020
+1,703,280
+86% +$62M
HTHT icon
6
Huazhu Hotels Group
HTHT
$12.9B
$108M 5.84%
2,783,620
– –
NOAH
7
Noah Holdings
NOAH
$603M
$94.6M 5.11%
6,719,722
– –
HOLI
8
DELISTED
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
HOLI
$69.7M 3.77%
3,963,836
– –
PENG
9
Penguin Solutions Inc
PENG
$3.25B
$60.5M 3.27%
2,085,602
-868,390
-29% -$17.4M
TDG icon
10
TransDigm Group
TDG
$69.1B
$58.3M 3.15%
65,245
-36,067
-36% -$28.5M
AKRO
11
DELISTED
Akero Therapeutics
AKRO
$56.1M 3.03%
1,201,591
+75,800
+7% +$3.47M
RBLX icon
12
Roblox
RBLX
$37B
$40.6M 2.2%
1,008,274
– –
SABR icon
13
Sabre
SABR
$680M
$37.7M 2.04%
11,826,186
+1,404,444
+13% +$5.07M
INDI icon
14
indie Semiconductor
INDI
$797M
$35.1M 1.9%
3,731,230
+1,371,009
+58% +$12.4M
DNLI icon
15
Denali Therapeutics
DNLI
$3.68B
$34M 1.84%
1,150,684
+136,000
+13% +$3.82M
VRDN icon
16
Viridian Therapeutics
VRDN
$1.98B
$29.2M 1.58%
1,228,534
– –
KROS icon
17
Keros Therapeutics
KROS
$210M
$22.3M 1.2%
554,151
– –
TAL icon
18
TAL Education Group
TAL
$5.62B
$16.8M 0.91%
2,818,300
– –
BEAM icon
19
Beam Therapeutics
BEAM
$2.89B
$14.8M 0.8%
463,800
– –
ACMR icon
20
CALL
ACM Research
ACMR
$5.74B
$10.9M 0.59%
831,800
-822,900
-50% -$8.67M
IVA
21
Inventiva
IVA
$1.09B
$10.7M 0.58%
2,644,926
– –
GBIO
22
DELISTED
Generation Bio
GBIO
$8.81M 0.48%
160,177
– –
ACMR icon
23
ACM Research
ACMR
$5.74B
$6.71M 0.36%
512,700
+210,400
+70% +$2.22M
NIU
24
Niu Technologies
NIU
$201M
$4.63M 0.25%
1,162,675
– –
VISN
25
Vistance Networks Inc
VISN
$2.75B
$4.11M 0.22%
730,877
+530,873
+265% +$2.54M
1
2

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Yiheng Capital Management's Q2 2023 Portfolio in Review

As of Q2 2023, Yiheng Capital Management held 35 positions worth $1.85B, down 27% from $2.53B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Yiheng Capital Management withdrew a net $273M in Q2 2023, closing 4 positions and reducing 5 holdings. Its most notable exit was IVERIC bio, Inc. Common Stock, an estimated $52.2M position sold in full.

By sector, the portfolio is most concentrated in Consumer Discretionary at 13% of assets, up from 9% a quarter earlier, followed by Communication Services and Healthcare.

Against the trend, Yiheng Capital Management added an estimated $62M to JD.com.

  • Yiheng Capital Management added most to JD.com in Q2 2023, an estimated $62M increase.
  • Yiheng Capital Management's biggest Q2 2023 reduction was TransDigm Group, cutting an estimated $28.5M.
  • Yiheng Capital Management fully exited IVERIC bio, Inc. Common Stock in Q2 2023, selling an estimated $52.2M.
  • Yiheng Capital Management's ten largest holdings make up 82% of its $1.85B portfolio in Q2 2023.
  • Yiheng Capital Management opened 0 new positions and closed 4 in Q2 2023.
  • Yiheng Capital Management's portfolio value fell 27% quarter-over-quarter to $1.85B.

Based on Yiheng Capital Management's 13F filing for Q2 2023, filed 14 Aug 2023.