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Stock research / United States / Funds / Yiheng Capital Management, L.P.

Yiheng Capital Management, L.P.

CIK 1447228 · latest 13F filed 14 August 2026 · Read the filing on EDGAR

Yiheng Capital Management, L.P. reported 25 US-listed holdings worth $234.6 million in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: Noah Hldgs Ltd (28.6%), Bilibili Inc. (10.8%) and JD.com, Inc. (6.4%). Against the quarter before, it opened 3 positions, added to 5, trimmed 4 and sold out of 2.

Reported holdings$234.6M+1.7% on Q1 2026
Positions25+1 on Q1 2026
The largest ten77.4%of its reported holdings
Latest 13FQ2 2026filed 14 August 2026
Where the money is
OpenedAdded toHeldTrimmed
NOAH28.6%BILI10.8%JD6.4%HTHT5.8%HNGE5.5%SVCO5.3%RERE5.2%BILL3.4%EDU3.2%VRDN3.1%KYMR3.1%TAL3.1%JOYY2.4%PSIX2.2%11 more11.7%

The 14 largest of its 25 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.

Reported holdings, quarter by quarter
Q3 2024: $541.5 million in 17 positions$542MQ3 24Q4 2024: $451.9 million in 19 positions$452MQ4 24Q1 2025: $284.5 million in 21 positions$284MQ1 25Q2 2025: $276.1 million in 20 positions$276MQ2 25Q3 2025: $302.3 million in 23 positions$302MQ3 25Q4 2025: $229.3 million in 21 positions$229MQ4 25Q1 2026: $230.7 million in 24 positions$231MQ1 26Q2 2026: $234.6 million in 25 positions$235MQ2 26

What the fund reported holding at each quarter's end; hover a bar for the number of positions

What its reported holdings returned

Held through each quarter, the holdings it reported returned +11.7% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.

Its reported holdingsThe S&P 500
90105120135Q3 24Q4 24Q1 25Q2 25Q3 25Q4 25Q1 26Q2 26Its holdings +11.7%S&P 500 +30.2%

Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.

What it did on the quarter

Opened 3Added 5Held 13Trimmed 4Sold out 2
Opened: 3Added: 5Held: 13Trimmed: 4Sold out: 2

Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held

Opened 3

  1. Power Solutions PSIX$5.2 million
  2. Bioage Labs Inc. BIOA$4.2 million
  3. Tuniu Corp. TOUR$151,870

Added to 5

  1. Bilibili Inc. BILI+749,900 shares · +101%
  2. Viridian Therapeutics, Inc. VRDN+191,729 shares · +92%
  3. Zepp Health Corporation ZEPP+162,770 shares · +282%
  4. Yatsen Hldg Ltd YSG+148,327 shares · +19%
  5. JD.com, Inc. JD+3,000 shares · +1%

Trimmed 4

  1. New Oriental Ed & Technology EDU-374,915 shares · -100%
  2. Hinge Health Inc. HNGE-140,663 shares · -47%
  3. Silvaco Group Inc. SVCO-189,901 shares · -17%
  4. Kymera Therapeutics, Inc. KYMR-10,000 shares · -14%

Sold out of 2

  1. Cellebrite Di Ltd CLBT$633,880 last quarter
  2. Tuniu Corp-Spon Adr TOUR$242,116 last quarter

What it holds

CompanySharesValueOf its bookChange in shares
Noah Hldgs Ltd NOAH6.7M$67.1 million28.61%no change
Bilibili Inc. BILI1.5M$25.4 million10.82%+749.9K
JD.com, Inc. JD590.5K$15.0 million6.41%+3.0K
H World Group Ltd HTHT323.4K$13.5 million5.75%no change
Hinge Health Inc. HNGE156.2K$13.0 million5.53%-140.7K
Silvaco Group Inc. SVCO906.4K$12.5 million5.33%-189.9K
Atrenew Inc. RERE3.2M$12.2 million5.22%no change
Bill Holdings, Inc. BILL222.8K$8.1 million3.44%no change
New Oriental Ed & Technology EDU1.6K$7.5 million3.20%-374.9K
Viridian Therapeutics, Inc. VRDN400.5K$7.4 million3.14%+191.7K
Kymera Therapeutics, Inc. KYMR63.4K$7.3 million3.10%-10.0K
Tal Education Group TAL759.2K$7.3 million3.10%no change
Joyy Inc. JOYY85.6K$5.6 million2.41%no change
Power Solutions PSIX133.5K$5.2 million2.21%new
Pony Ai Inc. PONY653.2K$4.5 million1.94%no change
Bioage Labs Inc. BIOA170.5K$4.2 million1.78%new
Full Truck Alliance Co. Ltd YMM513.2K$4.2 million1.78%no change
Trip.com Group Limited TCOM88.1K$3.5 million1.50%no change
Yatsen Hldg Ltd YSG946.2K$3.0 million1.28%+148.3K
Agora Inc. API725.8K$2.9 million1.23%no change
DBV Technologies S.A. DBVT170.1K$2.8 million1.19%no change
Zepp Health Corporation ZEPP220.5K$1.1 million0.49%+162.8K
Beam Therapeutics Inc. BEAM21.1K$725,0440.31%no change
Passage Bio Inc PASG86.1K$420,1530.18%no change
Tuniu Corp. TOUR31.4K$151,8700.06%new
Every US-listed position in the fund's 13F for the quarter ended 30 June 2026, by the value it reported.
Read moreChange is shares against its 13F for the quarter before; the 2 it sold out of are in the box above.

Options it reported

CompanyOptionShares under the optionsValue of those shares
New Oriental Ed & Technology EDUCalls536.4K$24.6 million
JD.com, Inc. JDCalls8.4K$21.5 million
Bilibili Inc. BILICalls6.2K$10.6 million

3 option lines. A 13F lists calls and puts by the shares they cover and what those shares were worth at the quarter's end, not what the options cost; they are not counted in the holdings above.