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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
-3.21%
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
$231M
AUM Growth
-$264M
Cap. Flow
+$8.97M
Cap. Flow %
3.89%
Top 10 Hldgs %
82.08%
Holding
30
New
6
Increased
6
Reduced
4
Closed
6

Top Buys

Rank Stock Value
1
HNGE
Hinge Health
HNGE
+$12.3M
2
BILL icon
BILL Holdings
BILL
+$9.97M
3
JOYY
JOYY Inc
JOYY
+$5.41M
4
TCOM icon
Trip.com Group
TCOM
+$5.14M
5
TAL icon
TAL Education Group
TAL
+$5.06M

Top Sells

Rank Stock Value
1
BILI icon
Bilibili
BILI
+$11.8M
2
DBVT
DBV Technologies
DBVT
+$9.81M
3
ACMR icon
ACM Research
ACMR
+$6.88M
4
HTHT icon
Huazhu Hotels Group
HTHT
+$3.82M
5
JD icon
JD.com
JD
+$2.82M

Sector Composition

Rank Sector Weight
1 Financials 28.83%
2 Consumer Discretionary 23.02%
3 Consumer Staples 14.05%
4 Technology 13.27%
5 Healthcare 11.43%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NOAH
1
Noah Holdings
NOAH
$589M
$66.5M 28.83%
6,717,351
– –
EDU icon
2
New Oriental
EDU
$9.36B
$21.3M 9.24%
376,551
+35,922
+11% +$2.05M
JD icon
3
JD.com
JD
$38.8B
$17.4M 7.53%
587,513
-99,900
-15% -$2.82M
BILI icon
4
Bilibili
BILI
$6.95B
$16.7M 7.24%
739,915
-408,983
-36% -$11.8M
HTHT icon
5
Huazhu Hotels Group
HTHT
$14.7B
$16.3M 7.05%
323,371
-75,000
-19% -$3.82M
RERE
6
ATRenew
RERE
$895M
$14.8M 6.43%
3,163,117
– –
HNGE
7
Hinge Health
HNGE
$7.05B
$11.4M 4.96%
+296,853
New +$12.3M
TAL icon
8
TAL Education Group
TAL
$6.62B
$8.63M 3.74%
759,240
+450,000
+146% +$5.06M
BILL icon
9
BILL Holdings
BILL
$5.01B
$8.53M 3.7%
+222,820
New +$9.97M
SVCO
10
Silvaco Group
SVCO
$232M
$7.76M 3.36%
1,096,282
– –
PONY
11
Pony AI Inc
PONY
$3.29B
$6.17M 2.67%
653,215
– –
KYMR icon
12
Kymera Therapeutics
KYMR
$9.82B
$6.12M 2.65%
73,440
– –
JOYY
13
JOYY Inc
JOYY
$3.65B
$5M 2.17%
+85,583
New +$5.41M
TCOM icon
14
Trip.com Group
TCOM
$28.6B
$4.39M 1.9%
+88,112
New +$5.14M
YMM icon
15
Full Truck Alliance
YMM
$9.14B
$4.26M 1.85%
513,248
+102,105
+25% +$971K
VRDN icon
16
Viridian Therapeutics
VRDN
$2.61B
$4.08M 1.77%
208,735
– –
DBVT
17
DBV Technologies
DBVT
$851M
$3.55M 1.54%
170,142
-469,627
-73% -$9.81M
API
18
Agora
API
$347M
$2.57M 1.11%
725,795
+192,248
+36% +$815K
YSG
19
Yatsen Holding
YSG
$285M
$2.46M 1.07%
797,866
+429,519
+117% +$1.73M
ZEPP
20
Zepp Health
ZEPP
$73.9M
$690K 0.3%
+57,731
New +$1.18M
PASG icon
21
Passage Bio
PASG
$14.5M
$676K 0.29%
86,097
+51,796
+151% +$536K
CLBT icon
22
Cellebrite
CLBT
$3.01B
$634K 0.27%
+46,000
New +$693K
BEAM icon
23
Beam Therapeutics
BEAM
$3.03B
$503K 0.22%
21,126
– –
TOUR
24
Tuniu
TOUR
$54.1M
$242K 0.1%
31,444
– –
ACMR icon
25
ACM Research
ACMR
$5.18B
– –
-174,447
Closed -$6.88M
1
2

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NTIC
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HMP
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Yiheng Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Yiheng Capital Management held 30 positions worth $231M, down 53% from $494M the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Yiheng Capital Management deployed $8.97M of net new capital in Q1 2026, opening 6 new positions and adding to 6 existing holdings. Its largest new stake was Hinge Health: 296,853 shares worth $11.4M.

By sector, the portfolio is most concentrated in Financials at 29% of assets, up from 14% a quarter earlier, followed by Consumer Discretionary and Consumer Staples.

On the sell side, the largest reduction was Bilibili, an estimated $11.8M trimmed.

  • Yiheng Capital Management's largest Q1 2026 buy was Hinge Health: 296,853 shares worth $11.4M.
  • Yiheng Capital Management added most to TAL Education Group in Q1 2026, an estimated $5.06M increase.
  • Yiheng Capital Management's biggest Q1 2026 reduction was Bilibili, cutting an estimated $11.8M.
  • Yiheng Capital Management fully exited ACM Research in Q1 2026, selling an estimated $6.88M.
  • Yiheng Capital Management's ten largest holdings make up 82% of its $231M portfolio in Q1 2026.
  • Yiheng Capital Management opened 6 new positions and closed 6 in Q1 2026.
  • Yiheng Capital Management's portfolio value fell 53% quarter-over-quarter to $231M.

Based on Yiheng Capital Management's 13F filing for Q1 2026, filed 15 May 2026.