Filed: 11/14/2025ACC: 0001420506-25-003340
📋 What this filing means
YIHENG CAPITAL MANAGEMENT, L.P. filed this quarterly 13F‑HR report disclosing 25 equity positions with a total reported market value of $678.11M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
25
Positions
$678.11M
Total AUM (reported)
25.49M
Total Shares
Allocation by class
COM$349.08M51.5%
SPON ADS CL A$91.02M13.4%
SPON ADS$77.85M11.5%
SPONS ADS REP Z$51.08M7.5%
SPONSORED ADS$48.13M7.1%
SPON ADR$27.70M4.1%
ADS$17.35M2.6%
Portfolio Concentration
Top 3$448.38M66.1%
4–10$159.03M23.5%
11–25$70.70M10.4%
Top 3 weight
66.1%
Top 10 weight
89.6%
Voting Authority Distribution
Total shares with voting rights: 23.28M
Sole
Full voting authority
23.28M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole25
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings25
Rows:
ASTERA LABS INC
SOLEShares1.43M
TypeSH
Market value$279.50M
41.22%
Sole
1.43M
Shared
0.00
None
0.00
JD.COM INC
SOLEShares2.60M
TypeSH
Market value$91.02M
13.42%
Sole
787.41K
Shared
0.00
None
0.00
NOAH HLDGS LTD
SOLEShares6.72M
TypeSH
Market value$77.85M
11.48%
Sole
6.72M
Shared
0.00
None
0.00
BILIBILI INC
SOLEShares1.82M
TypeSH
Market value$51.08M
7.53%
Sole
1.42M
Shared
0.00
None
0.00
NEW ORIENTAL ED & TECHNOLOGY
SOLEShares521.90K
TypeSH
Market value$27.70M
4.08%
Sole
521.90K
Shared
0.00
None
0.00
VIASAT INC
SOLEShares735.50K
TypeSH
Market value$21.55M
3.18%
Sole
735.50K
Shared
0.00
None
0.00
H WORLD GROUP LTD
SOLEShares457.03K
TypeSH
Market value$17.87M
2.64%
Sole
457.03K
Shared
0.00
None
0.00
INVENTIVA SA
SOLEShares2.64M
TypeSH
Market value$15.31M
2.26%
Sole
2.64M
Shared
0.00
None
0.00
ATRENEW INC
SOLEShares3.16M
TypeSH
Market value$14.55M
2.15%
Sole
3.16M
Shared
0.00
None
0.00
ACM RESH INC
SOLEShares280.20K
TypeSH
Market value$10.96M
1.62%
Sole
280.20K
Shared
0.00
None
0.00
VIRIDIAN THERAPEUTICS INC
SOLEShares500.26K
TypeSH
Market value$10.80M
1.59%
Sole
500.26K
Shared
0.00
None
0.00
AKERO THERAPEUTICS INC
SOLEShares191.08K
TypeSH
Market value$9.07M
1.34%
Sole
191.08K
Shared
0.00
None
0.00
KYMERA THERAPEUTICS INC
SOLEShares122.61K
TypeSH
Market value$6.94M
1.02%
Sole
122.61K
Shared
0.00
None
0.00
DENALI THERAPEUTICS INC
SOLEShares469.98K
TypeSH
Market value$6.82M
1.01%
Sole
469.98K
Shared
0.00
None
0.00
ULTRAGENYX PHARMACEUTICAL IN
SOLEShares225.76K
TypeSH
Market value$6.79M
1.00%
Sole
225.76K
Shared
0.00
None
0.00
DBV TECHNOLOGIES S A
SOLEShares656.31K
TypeSH
Market value$6.56M
0.97%
Sole
656.31K
Shared
0.00
None
0.00
SILVACO GROUP INC
SOLEShares1.10M
TypeSH
Market value$5.93M
0.87%
Sole
1.10M
Shared
0.00
None
0.00
PONY AI INC
SOLEShares200.30K
TypeSH
Market value$4.50M
0.66%
Sole
200.30K
Shared
0.00
None
0.00
CELLEBRITE DI LTD
SOLEShares231.03K
TypeSH
Market value$4.28M
0.63%
Sole
231.03K
Shared
0.00
None
0.00
TAL EDUCATION GROUP
SOLEShares309.24K
TypeSH
Market value$3.46M
0.51%
Sole
309.24K
Shared
0.00
None
0.00
AGORA INC
SOLEShares533.55K
TypeSH
Market value$2.04M
0.30%
Sole
533.55K
Shared
0.00
None
0.00
BEAM THERAPEUTICS INC
SOLEShares69.06K
TypeSH
Market value$1.68M
0.25%
Sole
69.06K
Shared
0.00
None
0.00
YATSEN HLDG LTD
SOLEShares96.33K
TypeSH
Market value$872.7K
0.13%
Sole
96.33K
Shared
0.00
None
0.00
GENERATION BIO CO
SOLEShares105.52K
TypeSH
Market value$645.8K
0.10%
Sole
105.52K
Shared
0.00
None
0.00
TUNIU CORP
SOLEShares314.44K
TypeSH
Market value$299.4K
0.04%
Sole
314.44K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
ASTERA LABS INCSOLE | COM | 1.43M | SH | $279.50M 41.22% | 1.43M | 0.00 | 0.00 |
JD.COM INCSOLE | SPON ADS CL A | 2.60M | SH | $91.02M 13.42% | 787.41K | 0.00 | 0.00 |
NOAH HLDGS LTDSOLE | SPON ADS | 6.72M | SH | $77.85M 11.48% | 6.72M | 0.00 | 0.00 |
BILIBILI INCSOLE | SPONS ADS REP Z | 1.82M | SH | $51.08M 7.53% | 1.42M | 0.00 | 0.00 |
NEW ORIENTAL ED & TECHNOLOGYSOLE | SPON ADR | 521.90K | SH | $27.70M 4.08% | 521.90K | 0.00 | 0.00 |
VIASAT INCSOLE | COM | 735.50K | SH | $21.55M 3.18% | 735.50K | 0.00 | 0.00 |
H WORLD GROUP LTDSOLE | SPONSORED ADS | 457.03K | SH | $17.87M 2.64% | 457.03K | 0.00 | 0.00 |
INVENTIVA SASOLE | ADS | 2.64M | SH | $15.31M 2.26% | 2.64M | 0.00 | 0.00 |
ATRENEW INCSOLE | SPONSORED ADS | 3.16M | SH | $14.55M 2.15% | 3.16M | 0.00 | 0.00 |
ACM RESH INCSOLE | COM CL A | 280.20K | SH | $10.96M 1.62% | 280.20K | 0.00 | 0.00 |
VIRIDIAN THERAPEUTICS INCSOLE | COM | 500.26K | SH | $10.80M 1.59% | 500.26K | 0.00 | 0.00 |
AKERO THERAPEUTICS INCSOLE | COM | 191.08K | SH | $9.07M 1.34% | 191.08K | 0.00 | 0.00 |
KYMERA THERAPEUTICS INCSOLE | COM | 122.61K | SH | $6.94M 1.02% | 122.61K | 0.00 | 0.00 |
DENALI THERAPEUTICS INCSOLE | COM | 469.98K | SH | $6.82M 1.01% | 469.98K | 0.00 | 0.00 |
ULTRAGENYX PHARMACEUTICAL INSOLE | COM | 225.76K | SH | $6.79M 1.00% | 225.76K | 0.00 | 0.00 |
DBV TECHNOLOGIES S ASOLE | SPONSORED ADS | 656.31K | SH | $6.56M 0.97% | 656.31K | 0.00 | 0.00 |
SILVACO GROUP INCSOLE | COM | 1.10M | SH | $5.93M 0.87% | 1.10M | 0.00 | 0.00 |
PONY AI INCSOLE | SPONSORED ADS | 200.30K | SH | $4.50M 0.66% | 200.30K | 0.00 | 0.00 |
CELLEBRITE DI LTDSOLE | ORDINARY SHARES | 231.03K | SH | $4.28M 0.63% | 231.03K | 0.00 | 0.00 |
TAL EDUCATION GROUPSOLE | SPONSORED ADS | 309.24K | SH | $3.46M 0.51% | 309.24K | 0.00 | 0.00 |
AGORA INCSOLE | ADS | 533.55K | SH | $2.04M 0.30% | 533.55K | 0.00 | 0.00 |
BEAM THERAPEUTICS INCSOLE | COM | 69.06K | SH | $1.68M 0.25% | 69.06K | 0.00 | 0.00 |
YATSEN HLDG LTDSOLE | SPONSORED ADS | 96.33K | SH | $872.7K 0.13% | 96.33K | 0.00 | 0.00 |
GENERATION BIO COSOLE | COM NEW | 105.52K | SH | $645.8K 0.10% | 105.52K | 0.00 | 0.00 |
TUNIU CORPSOLE | SPONSORED ADS | 314.44K | SH | $299.4K 0.04% | 314.44K | 0.00 | 0.00 |