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YCM

Yiheng Capital Management Portfolio holdings

AUM $291M
1-Year Est. Return 19.43%
This Fund
S&P 500
This Quarter Est. Return
+13.49%
1 Year Est. Return
+19.43%
3 Year Est. Return
+81.96%
5 Year Est. Return
+61.91%
10 Year Est. Return
+930.57%
AUM
$1.11B
AUM Growth
+$34.9M
Cap. Flow
-$37.7M
Cap. Flow %
-3.39%
Top 10 Hldgs %
92.78%
Holding
28
New
3
Increased
5
Reduced
4
Closed
3

Top Buys

Rank Stock Value
1
JD icon
JD.com
JD
+$7.62M
2
API
Agora
API
+$1.19M
3
SVCO
Silvaco Group
SVCO
+$397K
4
GBIO
Generation Bio
GBIO
+$333K

Top Sells

Rank Stock Value
1
BILI icon
Bilibili
BILI
+$22.5M
2
RBLX icon
Roblox
RBLX
+$16.5M
3
HTHT icon
Huazhu Hotels Group
HTHT
+$5.49M
4
AKRO
Akero Therapeutics
AKRO
+$2.73M

Sector Composition

Rank Sector Weight
1 Miscellaneous 75.14%
2 Financials 7.22%
3 Consumer Discretionary 4.77%
4 Healthcare 4.58%
5 Communication Services 3.71%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JD icon
1
CALL
JD.com
JD
$38.2B
$528M 47.55%
16,178,900
+3,587,200
+28% +$122M
BILI icon
2
CALL
Bilibili
BILI
$6.37B
$194M 17.47%
9,044,300
-1,064,400
-11% -$19.6M
NOAH
3
Noah Holdings
NOAH
$579M
$80.2M 7.22%
6,719,722
– –
ULS icon
4
PUT
UL Solutions
ULS
$14.9B
$61.3M 5.52%
+841,800
New +$55.1M
BILI icon
5
Bilibili
BILI
$6.37B
$41.2M 3.71%
1,918,564
-1,225,103
-39% -$22.5M
EDU icon
6
New Oriental
EDU
$9.47B
$32.3M 2.91%
598,080
– –
PLNT icon
7
PUT
Planet Fitness
PLNT
$3.84B
$29.4M 2.65%
+270,000
New +$27M
JD icon
8
JD.com
JD
$38.2B
$25.7M 2.31%
787,413
+223,300
+40% +$7.62M
VSAT icon
9
PUT
Viasat
VSAT
$10.4B
$21.7M 1.95%
+1,483,500
New +$15M
HTHT icon
10
Huazhu Hotels Group
HTHT
$14.1B
$16.6M 1.49%
488,964
-156,694
-24% -$5.49M
AKRO
11
DELISTED
Akero Therapeutics
AKRO
$16M 1.44%
299,791
-60,000
-17% -$2.73M
RERE
12
ATRenew
RERE
$926M
$10.5M 0.94%
3,163,117
– –
IVA
13
Inventiva
IVA
$1.13B
$8.44M 0.76%
2,644,926
– –
ACMR icon
14
ACM Research
ACMR
$5.18B
$7.26M 0.65%
280,201
– –
VRDN icon
15
Viridian Therapeutics
VRDN
$2.6B
$6.99M 0.63%
500,261
– –
DNLI icon
16
Denali Therapeutics
DNLI
$3.56B
$6.58M 0.59%
469,981
– –
DBVT
17
DBV Technologies
DBVT
$847M
$6.01M 0.54%
656,309
– –
KYMR icon
18
Kymera Therapeutics
KYMR
$9.76B
$5.35M 0.48%
122,605
– –
SVCO
19
Silvaco Group
SVCO
$222M
$5.17M 0.47%
1,096,282
+83,950
+8% +$397K
TAL icon
20
TAL Education Group
TAL
$6.88B
$3.16M 0.28%
309,240
– –
API
21
Agora
API
$358M
$2.03M 0.18%
533,547
+340,967
+177% +$1.19M
BEAM icon
22
Beam Therapeutics
BEAM
$3.06B
$1.17M 0.11%
69,058
– –
YSG
23
Yatsen Holding
YSG
$250M
$929K 0.08%
96,328
– –
GBIO
24
DELISTED
Generation Bio
GBIO
$338K 0.03%
105,527
+86,374
+451% +$333K
TOUR
25
Tuniu
TOUR
$54.8M
$265K 0.02%
31,444
– –
1
2

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NTIC
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HMP
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IAM
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BCM
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MPPHD
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Yiheng Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Yiheng Capital Management held 28 positions worth $1.11B, up 3.2% from $1.08B the previous quarter. Its ten largest holdings account for 93% of the portfolio.

Yiheng Capital Management withdrew a net $37.7M in Q2 2025, closing 3 positions and reducing 4 holdings. Its most notable exit was Roblox, an estimated $16.5M position sold in full.

By sector, the portfolio is most concentrated in Miscellaneous at 75% of assets, up from 74% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Yiheng Capital Management added an estimated $7.62M to JD.com.

  • Yiheng Capital Management added most to JD.com in Q2 2025, an estimated $7.62M increase.
  • Yiheng Capital Management's biggest Q2 2025 reduction was Bilibili, cutting an estimated $22.5M.
  • Yiheng Capital Management fully exited Roblox in Q2 2025, selling an estimated $16.5M.
  • Yiheng Capital Management's ten largest holdings make up 93% of its $1.11B portfolio in Q2 2025.
  • Yiheng Capital Management opened 3 new positions and closed 3 in Q2 2025.
  • Yiheng Capital Management's portfolio value rose 3.2% quarter-over-quarter to $1.11B.

Based on Yiheng Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.