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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
+13.49%
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
$1.11B
AUM Growth
+$34.9M
Cap. Flow
+$82M
Cap. Flow %
7.38%
Top 10 Hldgs %
92.78%
Holding
28
New
3
Increased
5
Reduced
4
Closed
3

Top Buys

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

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

1 Financials 7.22%
2 Consumer Discretionary 4.77%
3 Healthcare 4.58%
4 Communication Services 3.71%
5 Consumer Staples 3.27%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JD icon
1
CALL
JD.com
JD
$40.2B
$528M 47.55%
16,178,900
+3,587,200
+28% +$122M
BILI icon
2
CALL
Bilibili
BILI
$7.53B
$194M 17.47%
9,044,300
-1,064,400
-11% -$19.6M
NOAH
3
Noah Holdings
NOAH
$607M
$80.2M 7.22%
6,719,722
– –
ULS icon
4
PUT
UL Solutions
ULS
$17.7B
$61.3M 5.52%
+841,800
New +$55.1M
BILI icon
5
Bilibili
BILI
$7.53B
$41.2M 3.71%
1,918,564
-1,225,103
-39% -$22.5M
EDU icon
6
New Oriental
EDU
$7.85B
$32.3M 2.91%
598,080
– –
PLNT icon
7
PUT
Planet Fitness
PLNT
$4.17B
$29.4M 2.65%
+270,000
New +$27M
JD icon
8
JD.com
JD
$40.2B
$25.7M 2.31%
787,413
+223,300
+40% +$7.62M
VSAT icon
9
PUT
Viasat
VSAT
$10B
$21.7M 1.95%
+1,483,500
New +$15M
HTHT icon
10
Huazhu Hotels Group
HTHT
$12.9B
$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
$864M
$10.5M 0.94%
3,163,117
– –
IVA
13
Inventiva
IVA
$1.09B
$8.44M 0.76%
2,644,926
– –
ACMR icon
14
ACM Research
ACMR
$5.93B
$7.26M 0.65%
280,201
– –
VRDN icon
15
Viridian Therapeutics
VRDN
$2B
$6.99M 0.63%
500,261
– –
DNLI icon
16
Denali Therapeutics
DNLI
$3.76B
$6.58M 0.59%
469,981
– –
DBVT
17
DBV Technologies
DBVT
$883M
$6.01M 0.54%
656,309
– –
KYMR icon
18
Kymera Therapeutics
KYMR
$9.53B
$5.35M 0.48%
122,605
– –
SVCO
19
Silvaco Group
SVCO
$286M
$5.17M 0.47%
1,096,282
+83,950
+8% +$397K
TAL icon
20
TAL Education Group
TAL
$5.63B
$3.16M 0.28%
309,240
– –
API
21
Agora
API
$332M
$2.03M 0.18%
533,547
+340,967
+177% +$1.19M
BEAM icon
22
Beam Therapeutics
BEAM
$2.93B
$1.17M 0.11%
69,058
– –
YSG
23
Yatsen Holding
YSG
$340M
$929K 0.08%
96,328
– –
GBIO
24
DELISTED
Generation Bio
GBIO
$338K 0.03%
105,527
+86,374
+451% +$333K
TOUR
25
Tuniu
TOUR
$55.4M
$265K 0.02%
31,444
– –
1
2

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ERFOTCOFW
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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 deployed $82M of net new capital in Q2 2025, opening 3 new positions and adding to 5 existing holdings.

By sector, the portfolio is most concentrated in Financials at 7.2% of assets, up from 5.9% a quarter earlier, followed by Consumer Discretionary and Healthcare.

On the sell side, the largest reduction was Bilibili, an estimated $22.5M trimmed.

  • 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.