Yiheng Capital Management, L.P.
CIK 1447228 · View on SEC EDGAR ↗
- Portfolio value
- $265.6M
- Positions
- 28
- As of
- June 30, 2026
#5,545 of 9,443 by 13F value · top 58.7%
Portfolio value QoQ: +15.1% 13F does not disclose cash
- Top 10 holdings weight
- 74.88%
- Top 25 holdings weight
- 99.51%
- Positions above 1%
- 23
- Effective number of positions
- 9.9
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 23.49% Est. buys $58,304,197 · sells $1,737,551,225
Median holding: 4.0 quarters Tracked Q4 2024–Q2 2026 · 62.2% still held
- New positions
- 6
- Increased
- 5
- Decreased
- 4
- Closed
- 2
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +21.4% · S&P 500: +18.0%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 99.5% · Options excluded: 71.3%
Sector breakdown
Financial Services
25.3%
Diversified Consumer Services
14.8%
Communication Services
13.7%
Healthcare
13.4%
Retail
10.7%
Technology
10.5%
Consumer Discretionary
6.4%
Industrials
4.0%
Consumer products
1.1%
Other/Unmapped
0.1%
Full portfolio 28 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| NOAH Noah Holdings Limited American Depositary Shares | $67,106,336 | 25.26% | 6,717,351 | $604,561 | |||
| BILI Bilibili Inc. - American Depositary Shares | $25,371,549 | 9.55% | 1,489,815 | $8,679,067 | Up ×1 | ||
| EDU New Oriental Education & Technology Group, Inc. Sponsored ADR representing 10 Ordinary Share (Cayman Islands) | $24,623,874 | 9.27% | 536,351 | Call option | Up ×1 | ||
| JD JD.com, Inc. - American Depositary Shares | $15,046,271 | 5.66% | 590,513 | $-2,326,488 | Up ×1 | ||
| HTHT H World Group Limited - American Depositary Shares | $13,491,038 | 5.08% | 323,371 | $-2,771,290 | |||
| HNGE Hinge Health, Inc. Class A Common Stock | $12,963,770 | 4.88% | 156,190 | $1,517,118 | Down ×1 | ||
| SVCO Silvaco Group, Inc. - Common Stock | $12,498,994 | 4.71% | 906,381 | $4,737,317 | Down ×1 | ||
| RERE ATRenew Inc. American Depositary Shares (every three of which representing two Class A ordinary shares) | $12,241,263 | 4.61% | 3,163,117 | $-2,593,756 | |||
| BILL BILL Holdings, Inc. Common Stock | $8,057,171 | 3.03% | 222,820 | $-476,835 | |||
| EDU New Oriental Education & Technology Group, Inc. Sponsored ADR representing 10 Ordinary Share (Cayman Islands) | $7,510,876 | 2.83% | 1,636 | $-13,813,207 | Down ×1 | ||
| VRDN Viridian Therapeutics, Inc. - Common Stock | $7,356,524 | 2.77% | 400,464 | $3,273,667 | Up ×1 | ||
| KYMR Kymera Therapeutics, Inc. - Common Stock | $7,274,665 | 2.74% | 63,440 | $1,157,847 | Down ×1 | ||
| TAL TAL Education Group American Depositary Shares | $7,265,927 | 2.74% | 759,240 | $-1,366,632 | |||
| JOYY JOYY Inc. - American Depositary Shares | $5,647,622 | 2.13% | 85,583 | $650,431 | |||
| BILI Bilibili Inc. - American Depositary Shares | $5,340,608 | 2.01% | 3,136 | Call option | |||
| PSIX Power Solutions International, Inc. - Common Stock | $5,191,815 | 1.95% | 133,500 | Up ×1 | |||
| PONY Pony AI Inc. - American Depositary Shares | $4,539,844 | 1.71% | 653,215 | $-1,626,506 | |||
| BIOA BioAge Labs, Inc. - Common Stock | $4,179,739 | 1.57% | 170,532 | Up ×1 | |||
| YMM Full Truck Alliance Co. Ltd. American Depositary Shares (each representing 20 Class A Ordinary Shares) | $4,167,574 | 1.57% | 513,248 | $-92,384 | |||
| TCOM Trip.com Group Limited - American Depositary Shares | $3,510,382 | 1.32% | 88,112 | $-876,714 | |||
| YSG Yatsen Holding Limited American Depositary Shares, each representing twenty (20) Class A Ordinary Shares | $2,999,432 | 1.13% | 946,193 | $542,005 | Up ×3 | ||
| API Agora, Inc. - ADS | $2,895,922 | 1.09% | 725,795 | $326,608 | |||
| DBVT DBV Technologies S.A. - American Depositary Shares | $2,790,329 | 1.05% | 170,142 | $-763,937 | |||
| ZEPP Zepp Health Corporation American depositary shares, each representing sixteen Class A ordinary shares | $1,148,810 | 0.43% | 220,501 | $458,925 | Up ×1 | ||
| JD JD.com, Inc. - American Depositary Shares | $1,128,764 | 0.42% | 443 | Call option | |||
| BEAM Beam Therapeutics Inc. - Common Stock | $725,044 | 0.27% | 21,126 | $221,611 | |||
| PASG Passage Bio, Inc. - Common Stock | $420,153 | 0.16% | 86,097 | $-255,708 | |||
| Unknown issuer (CUSIP: 89977P205) | $151,870 | 0.06% | 31,443 | Up ×1 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| YSG | $2,999,432 | 1.13% | up ×3 |
Biggest new bets
New positions opened this quarter, largest first.
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| EDU | Trimmed | -375K | -$13.8M |
| BILI | Bought more | +750K | +$8.7M |
| SVCO | Trimmed | -190K | +$4.7M |
| VRDN | Bought more | +192K | +$3.3M |
| HTHT | Price move only | +0 | -$2.8M |
| RERE | Price move only | +0 | -$2.6M |
| JD | Bought more | +3K | -$2.3M |
| PONY | Price move only | +0 | -$1.6M |
| HNGE | Trimmed | -141K | +$1.5M |
| TAL | Price move only | +0 | -$1.4M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| ALAB | March 31, 2026 | 1,427,500 | $237,478,900 | 164.3% |
| ULS | Sept. 30, 2025 | 841,800 | $61,333,548 | 5.6% |
| ALAB | June 30, 2025 | 836,300 | $49,902,021 | 220.4% |
| PLNT | Sept. 30, 2025 | 270,000 | $29,443,500 | -48.5% |
| SMCI | March 31, 2025 | 900,000 | $27,432,000 | 8.7% |
| RBLX | June 30, 2025 | 282,338 | $16,457,482 | -63.0% |
| VSAT | March 31, 2026 | 455,600 | $15,699,976 | 64.0% |
| MBLY | March 31, 2025 | 750,000 | $14,940,000 | -36.8% |
| ULS | March 31, 2026 | 150,000 | $11,829,000 | -12.7% |
| AKRO | Dec. 31, 2025 | 191,076 | $9,072,288 | No longer tracked |
| ACMR | March 31, 2026 | 174,447 | $6,881,934 | 99.3% |
| DNLI | Dec. 31, 2025 | 469,981 | $6,824,124 | 52.4% |
| RARE | Dec. 31, 2025 | 225,758 | $6,790,801 | 13.6% |
| CLBT | Dec. 31, 2025 | 231,031 | $4,281,004 | -37.6% |
| IVA | March 31, 2026 | 255,915 | $1,190,005 | -14.6% |
| CLBT | June 30, 2026 | 46,000 | $633,880 | -22.9% |
| GBIO | March 31, 2026 | 105,524 | $599,376 | No longer tracked |
| TOUR | June 30, 2026 | 314,437 | $242,116 | 2.1% |