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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%
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
$1.08B
AUM Growth
-$1.52B
Cap. Flow
-$1.73B
Cap. Flow %
-160.84%
Top 10 Hldgs %
93.61%
Holding
27
New
4
Increased
3
Reduced
12
Closed
2

Top Buys

Rank Stock Value
1
SVCO
Silvaco Group
SVCO
+$6.92M
2
KYMR icon
Kymera Therapeutics
KYMR
+$4.47M
3
EDU icon
New Oriental
EDU
+$4.1M
4
API
Agora
API
+$1.01M
5
YSG
Yatsen Holding
YSG
+$336K

Top Sells

Rank Stock Value
1
JD icon
JD.com
JD
+$38.1M
2
BILI icon
Bilibili
BILI
+$33.9M
3
TAL icon
TAL Education Group
TAL
+$23.4M
4
HTHT icon
Huazhu Hotels Group
HTHT
+$22.9M
5
RBLX icon
Roblox
RBLX
+$18.3M

Sector Composition

Rank Sector Weight
1 Communication Services 7.11%
2 Financials 5.9%
3 Consumer Discretionary 5.27%
4 Healthcare 3.96%
5 Consumer Staples 3.08%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JD icon
1
CALL
JD.com
JD
$41.4B
$518M 48.13%
12,591,700
-25,882,100
-67% -$1.04B
BILI icon
2
CALL
Bilibili
BILI
$7.83B
$193M 17.96%
10,108,700
-27,207,300
-73% -$523M
NOAH
3
Noah Holdings
NOAH
$613M
$63.5M 5.9%
6,719,722
– –
BILI icon
4
Bilibili
BILI
$7.83B
$60.1M 5.58%
3,143,667
-1,765,114
-36% -$33.9M
ALAB icon
5
PUT
Astera Labs
ALAB
$53.2B
$49.9M 4.64%
836,300
+18,200
+2% +$1.68M
AKRO
6
CALL
DELISTED
Akero Therapeutics
AKRO
$30.4M 2.83%
+751,500
New +$31.9M
EDU icon
7
New Oriental
EDU
$7.86B
$28.6M 2.66%
598,080
+79,766
+15% +$4.1M
HTHT icon
8
Huazhu Hotels Group
HTHT
$12.8B
$23.9M 2.22%
645,658
-660,737
-51% -$22.9M
JD icon
9
JD.com
JD
$41.4B
$23.2M 2.16%
564,113
-949,071
-63% -$38.1M
RBLX icon
10
Roblox
RBLX
$39B
$16.5M 1.53%
282,338
-290,927
-51% -$18.3M
AKRO
11
DELISTED
Akero Therapeutics
AKRO
$14.6M 1.35%
359,791
-306,354
-46% -$13M
RERE
12
ATRenew
RERE
$848M
$9.3M 0.86%
3,163,117
– –
VRDN icon
13
Viridian Therapeutics
VRDN
$2.11B
$6.74M 0.63%
500,261
-250,000
-33% -$4.26M
ACMR icon
14
ACM Research
ACMR
$5.84B
$6.54M 0.61%
280,201
-400,403
-59% -$9.14M
DNLI icon
15
Denali Therapeutics
DNLI
$3.65B
$6.39M 0.59%
469,981
-230,117
-33% -$4.41M
IVA
16
Inventiva
IVA
$1.06B
$5.66M 0.53%
2,644,926
– –
SVCO
17
Silvaco Group
SVCO
$265M
$4.62M 0.43%
+1,012,332
New +$6.92M
DBVT
18
DBV Technologies
DBVT
$850M
$4.48M 0.42%
656,309
– –
TAL icon
19
TAL Education Group
TAL
$5.76B
$4.09M 0.38%
309,240
-1,878,378
-86% -$23.4M
KYMR icon
20
Kymera Therapeutics
KYMR
$9.33B
$3.36M 0.31%
+122,605
New +$4.47M
BEAM icon
21
Beam Therapeutics
BEAM
$2.74B
$1.35M 0.13%
69,058
-357,044
-84% -$9.35M
API
22
Agora
API
$338M
$774K 0.07%
+192,580
New +$1.01M
YSG
23
Yatsen Holding
YSG
$333M
$463K 0.04%
96,328
+85,820
+817% +$336K
TOUR
24
Tuniu
TOUR
$56.8M
$346K 0.03%
31,444
– –
GBIO
25
DELISTED
Generation Bio
GBIO
$77.6K 0.01%
19,153
– –
1
2

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MIM
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MWM
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Yiheng Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Yiheng Capital Management held 27 positions worth $1.08B, down 59% from $2.6B the previous quarter. Its ten largest holdings account for 94% of the portfolio.

Yiheng Capital Management withdrew a net $1.73B in Q1 2025, closing 2 positions and reducing 12 holdings. Its most notable exit was Mobileye, an estimated $14.9M position sold in full.

By sector, the portfolio is most concentrated in Communication Services at 7.1% of assets, up from 4.7% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Yiheng Capital Management opened a new position in Silvaco Group worth $4.62M.

  • Yiheng Capital Management's largest Q1 2025 buy was Silvaco Group: 1,012,332 shares worth $4.62M.
  • Yiheng Capital Management added most to New Oriental in Q1 2025, an estimated $4.1M increase.
  • Yiheng Capital Management's biggest Q1 2025 reduction was JD.com, cutting an estimated $38.1M.
  • Yiheng Capital Management fully exited Mobileye in Q1 2025, selling an estimated $14.9M.
  • Yiheng Capital Management's ten largest holdings make up 94% of its $1.08B portfolio in Q1 2025.
  • Yiheng Capital Management opened 4 new positions and closed 2 in Q1 2025.
  • Yiheng Capital Management's portfolio value fell 59% quarter-over-quarter to $1.08B.

Based on Yiheng Capital Management's 13F filing for Q1 2025, filed 15 May 2025.