Filed: 2/17/2026ACC: 0001420506-26-000563
📋 What this filing means
YIHENG CAPITAL MANAGEMENT, L.P. filed this quarterly 13F‑HR report disclosing 24 equity positions with a total reported market value of $494.32M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
24
Positions
$494.32M
Total AUM (reported)
19.69M
Total Shares
Allocation by class
COM$270.41M54.7%
SPON ADS$67.44M13.6%
SPONSORED ADS$66.66M13.5%
SPONS ADS REP Z$28.25M5.7%
SPON ADS CL A$19.73M4.0%
SPON ADR$18.74M3.8%
CLASS A COM SHS$11.83M2.4%
Portfolio Concentration
Top 3$333.17M67.4%
4–10$113.77M23.0%
11–25$47.37M9.6%
Top 3 weight
67.4%
Top 10 weight
90.4%
Voting Authority Distribution
Total shares with voting rights: 19.69M
Sole
Full voting authority
19.69M
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)
Sole24
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings24
Rows:
ASTERA LABS INC
SOLEShares1.43M
TypeSH
Market value$237.48M
48.04%
Sole
1.43M
Shared
0.00
None
0.00
NOAH HLDGS LTD
SOLEShares6.72M
TypeSH
Market value$67.44M
13.64%
Sole
6.72M
Shared
0.00
None
0.00
BILIBILI INC
SOLEShares1.15M
TypeSH
Market value$28.25M
5.72%
Sole
1.15M
Shared
0.00
None
0.00
JD.COM INC
SOLEShares687.41K
TypeSH
Market value$19.73M
3.99%
Sole
687.41K
Shared
0.00
None
0.00
NEW ORIENTAL ED & TECHNOLOGY
SOLEShares340.63K
TypeSH
Market value$18.74M
3.79%
Sole
340.63K
Shared
0.00
None
0.00
H WORLD GROUP LTD
SOLEShares398.37K
TypeSH
Market value$18.74M
3.79%
Sole
398.37K
Shared
0.00
None
0.00
ATRENEW INC
SOLEShares3.16M
TypeSH
Market value$16.76M
3.39%
Sole
3.16M
Shared
0.00
None
0.00
VIASAT INC
SOLEShares455.60K
TypeSH
Market value$15.70M
3.18%
Sole
455.60K
Shared
0.00
None
0.00
DBV TECHNOLOGIES S A
SOLEShares639.77K
TypeSH
Market value$12.26M
2.48%
Sole
639.77K
Shared
0.00
None
0.00
UL SOLUTIONS INC
SOLEShares150K
TypeSH
Market value$11.83M
2.39%
Sole
150K
Shared
0.00
None
0.00
PONY AI INC
SOLEShares653.22K
TypeSH
Market value$9.47M
1.92%
Sole
653.22K
Shared
0.00
None
0.00
ACM RESH INC
SOLEShares174.45K
TypeSH
Market value$6.88M
1.39%
Sole
174.45K
Shared
0.00
None
0.00
VIRIDIAN THERAPEUTICS INC
SOLEShares208.74K
TypeSH
Market value$6.50M
1.31%
Sole
208.74K
Shared
0.00
None
0.00
KYMERA THERAPEUTICS INC
SOLEShares73.44K
TypeSH
Market value$5.71M
1.16%
Sole
73.44K
Shared
0.00
None
0.00
SILVACO GROUP INC
SOLEShares1.10M
TypeSH
Market value$4.44M
0.90%
Sole
1.10M
Shared
0.00
None
0.00
FULL TRUCK ALLIANCE CO LTD
SOLEShares411.14K
TypeSH
Market value$4.41M
0.89%
Sole
411.14K
Shared
0.00
None
0.00
TAL EDUCATION GROUP
SOLEShares309.24K
TypeSH
Market value$3.37M
0.68%
Sole
309.24K
Shared
0.00
None
0.00
AGORA INC
SOLEShares533.55K
TypeSH
Market value$2.17M
0.44%
Sole
533.55K
Shared
0.00
None
0.00
YATSEN HLDG LTD
SOLEShares368.35K
TypeSH
Market value$1.43M
0.29%
Sole
368.35K
Shared
0.00
None
0.00
INVENTIVA SA
SOLEShares255.91K
TypeSH
Market value$1.19M
0.24%
Sole
255.91K
Shared
0.00
None
0.00
GENERATION BIO CO
SOLEShares105.52K
TypeSH
Market value$599.4K
0.12%
Sole
105.52K
Shared
0.00
None
0.00
BEAM THERAPEUTICS INC
SOLEShares21.13K
TypeSH
Market value$585.6K
0.12%
Sole
21.13K
Shared
0.00
None
0.00
PASSAGE BIO INC
SOLEShares34.30K
TypeSH
Market value$404.8K
0.08%
Sole
34.30K
Shared
0.00
None
0.00
TUNIU CORP
SOLEShares314.44K
TypeSH
Market value$195.0K
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 | $237.48M 48.04% | 1.43M | 0.00 | 0.00 |
NOAH HLDGS LTDSOLE | SPON ADS | 6.72M | SH | $67.44M 13.64% | 6.72M | 0.00 | 0.00 |
BILIBILI INCSOLE | SPONS ADS REP Z | 1.15M | SH | $28.25M 5.72% | 1.15M | 0.00 | 0.00 |
JD.COM INCSOLE | SPON ADS CL A | 687.41K | SH | $19.73M 3.99% | 687.41K | 0.00 | 0.00 |
NEW ORIENTAL ED & TECHNOLOGYSOLE | SPON ADR | 340.63K | SH | $18.74M 3.79% | 340.63K | 0.00 | 0.00 |
H WORLD GROUP LTDSOLE | SPONSORED ADS | 398.37K | SH | $18.74M 3.79% | 398.37K | 0.00 | 0.00 |
ATRENEW INCSOLE | SPONSORED ADS | 3.16M | SH | $16.76M 3.39% | 3.16M | 0.00 | 0.00 |
VIASAT INCSOLE | COM | 455.60K | SH | $15.70M 3.18% | 455.60K | 0.00 | 0.00 |
DBV TECHNOLOGIES S ASOLE | SPONSORED ADS | 639.77K | SH | $12.26M 2.48% | 639.77K | 0.00 | 0.00 |
UL SOLUTIONS INCSOLE | CLASS A COM SHS | 150K | SH | $11.83M 2.39% | 150K | 0.00 | 0.00 |
PONY AI INCSOLE | SPONSORED ADS | 653.22K | SH | $9.47M 1.92% | 653.22K | 0.00 | 0.00 |
ACM RESH INCSOLE | COM CL A | 174.45K | SH | $6.88M 1.39% | 174.45K | 0.00 | 0.00 |
VIRIDIAN THERAPEUTICS INCSOLE | COM | 208.74K | SH | $6.50M 1.31% | 208.74K | 0.00 | 0.00 |
KYMERA THERAPEUTICS INCSOLE | COM | 73.44K | SH | $5.71M 1.16% | 73.44K | 0.00 | 0.00 |
SILVACO GROUP INCSOLE | COM | 1.10M | SH | $4.44M 0.90% | 1.10M | 0.00 | 0.00 |
FULL TRUCK ALLIANCE CO LTDSOLE | SPONSORED ADS | 411.14K | SH | $4.41M 0.89% | 411.14K | 0.00 | 0.00 |
TAL EDUCATION GROUPSOLE | SPONSORED ADS | 309.24K | SH | $3.37M 0.68% | 309.24K | 0.00 | 0.00 |
AGORA INCSOLE | ADS | 533.55K | SH | $2.17M 0.44% | 533.55K | 0.00 | 0.00 |
YATSEN HLDG LTDSOLE | SPONSORED ADS | 368.35K | SH | $1.43M 0.29% | 368.35K | 0.00 | 0.00 |
INVENTIVA SASOLE | ADS | 255.91K | SH | $1.19M 0.24% | 255.91K | 0.00 | 0.00 |
GENERATION BIO COSOLE | COM NEW | 105.52K | SH | $599.4K 0.12% | 105.52K | 0.00 | 0.00 |
BEAM THERAPEUTICS INCSOLE | COM | 21.13K | SH | $585.6K 0.12% | 21.13K | 0.00 | 0.00 |
PASSAGE BIO INCSOLE | COM NEW | 34.30K | SH | $404.8K 0.08% | 34.30K | 0.00 | 0.00 |
TUNIU CORPSOLE | SPONSORED ADS | 314.44K | SH | $195.0K 0.04% | 314.44K | 0.00 | 0.00 |