Yiheng Capital Management, L.P. — 13F Holdings & Portfolio
CIK 1447228 · latest 13F-HR filed 2026-08-14
Yiheng Capital Management, L.P. manages $291.3M in 13F-reported U.S. long-equity assets across 32 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are NOAH (23.04%), BILI (8.71%), EDU (8.45%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 3 new positions and exited 2; 10 existing positions rose in reported value and 10 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-08-14
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 77.4%Cumulative share of the portfolio held in the largest N positions.
SUITE 2880
SAN FRANCISCO, CA 94111
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| GUO, YUANSHAN Control | MANAGING DIRECTOR | 50–75% | Individual |
| GUO, YUANSHAN Control | MEMBER, ELECTED MANAGER | 75% or more | Individual |
| JI, JANET Control | CHIEF COMPLIANCE OFFICER | Less than 5% | Individual |
| JI, JANET Control | ELECTED MANAGER | General partner | Individual |
| YIHENG CAPITAL MANAGEMENT, LLC Control | GENERAL PARTNER | Less than 5% | Domestic Entity |
| JOOST, PETER, MARTIN | MEMBER | 5–10% | Individual |
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- BILIBILI INC$8.7M +52.0%
- SILVACO GROUP INC$4.7M +61.0%
- VIRIDIAN THERAPEUTICS INC$3.3M +80.2%
- HINGE HEALTH INC$1.5M +13.3%
- KYMERA THERAPEUTICS INC$1.2M +18.9%
Top Trims
- NEW ORIENTAL ED & TECHNOLOGY-$13.8M -64.8%
- H WORLD GROUP LTD-$2.8M -17.0%
- ATRENEW INC-$2.6M -17.5%
- JD.COM INC-$2.3M -13.4%
- PONY AI INC-$1.6M -26.4%
Yiheng Capital Management, L.P. Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | NOAH HLDGS LTD | NOAH | 65487X102 | $67.1M | 23.04% | 6,717,351 | SH |
| 2 | BILIBILI INC | BILI | 090040106 | $25.4M | 8.71% | 1,489,815 | SH |
| 3 | NEW ORIENTAL ED & TECHNOLOGY Call | EDU | 647581206 | $24.6M | 8.45% | 536,351 | SH |
| 4 | JD.COM INC | JD | 47215P106 | $15.0M | 5.17% | 590,513 | SH |
| 5 | H WORLD GROUP LTD | HTHT | 44332N106 | $13.5M | 4.63% | 323,371 | SH |
| 6 | HINGE HEALTH INC | HNGE | 433313103 | $13.0M | 4.45% | 156,190 | SH |
| 7 | SILVACO GROUP INC | SVCO | 82728C102 | $12.5M | 4.29% | 906,381 | SH |
| 8 | ATRENEW INC | RERE | 00138L108 | $12.2M | 4.20% | 3,163,117 | SH |
| 9 | BILL HOLDINGS INC | BILL | 090043100 | $8.1M | 2.77% | 222,820 | SH |
| 10 | JD.COM INC Call | JD | 47215P106 | $7.6M | 2.62% | 3,000 | SH |
| 11 | NEW ORIENTAL ED & TECHNOLOGY | EDU | 647581206 | $7.5M | 2.58% | 1,636 | SH |
| 12 | VIRIDIAN THERAPEUTICS INC | VRDN | 92790C104 | $7.4M | 2.53% | 400,464 | SH |
| 13 | KYMERA THERAPEUTICS INC | KYMR | 501575104 | $7.3M | 2.50% | 63,440 | SH |
| 14 | TAL ED GROUP | TAL | 874080104 | $7.3M | 2.49% | 759,240 | SH |
| 15 | JD.COM INC Call | JD | 47215P106 | $6.4M | 2.19% | 2,500 | SH |
| 16 | JD.COM INC Call | JD | 47215P106 | $6.4M | 2.19% | 2,500 | SH |
| 17 | JOYY INC | JOYY | 46591M109 | $5.6M | 1.94% | 85,583 | SH |
| 18 | BILIBILI INC Call | BILI | 090040106 | $5.3M | 1.83% | 3,136 | SH |
| 19 | BILIBILI INC Call | BILI | 090040106 | $5.3M | 1.81% | 3,094 | SH |
| 20 | POWER SOLUTIONS INTL INC | PSIX | 73933G202 | $5.2M | 1.78% | 133,500 | SH |
| 21 | PONY AI INC | PONY | 732908108 | $4.5M | 1.56% | 653,215 | SH |
| 22 | BIOAGE LABS INC | BIOA | 09077V100 | $4.2M | 1.43% | 170,532 | SH |
| 23 | FULL TRUCK ALLIANCE CO LTD | YMM | 35969L108 | $4.2M | 1.43% | 513,248 | SH |
| 24 | TRIP COM GROUP LTD | TCOM | 89677Q107 | $3.5M | 1.21% | 88,112 | SH |
| 25 | YATSEN HLDG LTD | YSG | 985194208 | $3.0M | 1.03% | 946,193 | SH |
| 26 | AGORA INC | API | 00851L103 | $2.9M | 0.99% | 725,795 | SH |
| 27 | DBV TECHNOLOGIES S A | DBVT | 23306J309 | $2.8M | 0.96% | 170,142 | SH |
| 28 | ZEPP HEALTH CORPORATION | ZEPP | 98945L204 | $1.1M | 0.39% | 220,501 | SH |
| 29 | JD.COM INC Call | JD | 47215P106 | $1.1M | 0.39% | 443 | SH |
| 30 | BEAM THERAPEUTICS INC | BEAM | 07373V105 | $725.0K | 0.25% | 21,126 | SH |
| 31 | PASSAGE BIO INC | PASG | 702712209 | $420.2K | 0.14% | 86,097 | SH |
| 32 | TUNIU CORP | TOUR | 89977P205 | $151.9K | 0.05% | 31,443 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $291.3M | 32 | 0001420506-26-001804 |
| 2026-03-31 | 2026-05-15 | $230.7M | 24 | 0001420506-26-001131 |
| 2025-12-31 | 2026-02-17 | $494.3M | 24 | 0001420506-26-000563 |
| 2025-09-30 | 2025-11-14 | $678.1M | 27 | 0001420506-25-003340 |
SUITE 2880
San Francisco, CA 94111