Filed: 8/14/2025ACC: 0001941040-25-000486
📋 What this filing means
YIHENG CAPITAL MANAGEMENT, L.P. filed this quarterly 13F‑HR report disclosing 23 equity positions with a total reported market value of $1.11B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
23
Positions
$1.11B
Total AUM (reported)
49.94M
Total Shares
Allocation by class
SPON ADS CL A$553.78M49.9%
SPONS ADS REP Z$235.15M21.2%
SPON ADS$80.23M7.2%
COM$63.26M5.7%
CLASS A COM SHS$61.33M5.5%
SPONSORED ADS$37.42M3.4%
SPON ADR$32.27M2.9%
Portfolio Concentration
Top 3$869.17M78.3%
4–10$187.75M16.9%
11–25$53.70M4.8%
Top 3 weight
78.3%
Top 10 weight
95.2%
Voting Authority Distribution
Total shares with voting rights: 24.72M
Sole
Full voting authority
24.72M
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)
Sole23
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings23
Rows:
JD.COM INC
SOLEShares16.97M
TypeSH
Market value$553.78M
49.86%
Sole
787.41K
Shared
0.00
None
0.00
BILIBILI INC
SOLEShares10.96M
TypeSH
Market value$235.15M
21.17%
Sole
1.92M
Shared
0.00
None
0.00
NOAH HLDGS LTD
SOLEShares6.72M
TypeSH
Market value$80.23M
7.22%
Sole
6.72M
Shared
0.00
None
0.00
UL SOLUTIONS INC
SOLEShares841.80K
TypeSH
Market value$61.33M
5.52%
Sole
841.80K
Shared
0.00
None
0.00
NEW ORIENTAL ED & TECHNOLOGY
SOLEShares598.08K
TypeSH
Market value$32.27M
2.91%
Sole
598.08K
Shared
0.00
None
0.00
PLANET FITNESS INC
SOLEShares270K
TypeSH
Market value$29.44M
2.65%
Sole
270K
Shared
0.00
None
0.00
VIASAT INC
SOLEShares1.48M
TypeSH
Market value$21.66M
1.95%
Sole
1.48M
Shared
0.00
None
0.00
H WORLD GROUP LTD
SOLEShares488.96K
TypeSH
Market value$16.59M
1.49%
Sole
488.96K
Shared
0.00
None
0.00
AKERO THERAPEUTICS INC
SOLEShares299.79K
TypeSH
Market value$16.00M
1.44%
Sole
299.79K
Shared
0.00
None
0.00
ATRENEW INC
SOLEShares3.16M
TypeSH
Market value$10.47M
0.94%
Sole
3.16M
Shared
0.00
None
0.00
INVENTIVA SA
SOLEShares2.64M
TypeSH
Market value$8.44M
0.76%
Sole
2.64M
Shared
0.00
None
0.00
ACM RESH INC
SOLEShares280.20K
TypeSH
Market value$7.26M
0.65%
Sole
280.20K
Shared
0.00
None
0.00
VIRIDIAN THERAPEUTICS INC
SOLEShares500.26K
TypeSH
Market value$6.99M
0.63%
Sole
500.26K
Shared
0.00
None
0.00
DENALI THERAPEUTICS INC
SOLEShares469.98K
TypeSH
Market value$6.58M
0.59%
Sole
469.98K
Shared
0.00
None
0.00
DBV TECHNOLOGIES S A
SOLEShares656.31K
TypeSH
Market value$6.01M
0.54%
Sole
656.31K
Shared
0.00
None
0.00
KYMERA THERAPEUTICS INC
SOLEShares122.61K
TypeSH
Market value$5.35M
0.48%
Sole
122.61K
Shared
0.00
None
0.00
SILVACO GROUP INC
SOLEShares1.10M
TypeSH
Market value$5.17M
0.47%
Sole
1.10M
Shared
0.00
None
0.00
TAL EDUCATION GROUP
SOLEShares309.24K
TypeSH
Market value$3.16M
0.28%
Sole
309.24K
Shared
0.00
None
0.00
AGORA INC
SOLEShares533.55K
TypeSH
Market value$2.03M
0.18%
Sole
533.55K
Shared
0.00
None
0.00
BEAM THERAPEUTICS INC
SOLEShares69.06K
TypeSH
Market value$1.17M
0.11%
Sole
69.06K
Shared
0.00
None
0.00
YATSEN HLDG LTD
SOLEShares96.33K
TypeSH
Market value$928.6K
0.08%
Sole
96.33K
Shared
0.00
None
0.00
GENERATION BIO CO
SOLEShares1.06M
TypeSH
Market value$337.8K
0.03%
Sole
1.06M
Shared
0.00
None
0.00
TUNIU CORP
SOLEShares314.44K
TypeSH
Market value$264.8K
0.02%
Sole
314.44K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
JD.COM INCSOLE | SPON ADS CL A | 16.97M | SH | $553.78M 49.86% | 787.41K | 0.00 | 0.00 |
BILIBILI INCSOLE | SPONS ADS REP Z | 10.96M | SH | $235.15M 21.17% | 1.92M | 0.00 | 0.00 |
NOAH HLDGS LTDSOLE | SPON ADS | 6.72M | SH | $80.23M 7.22% | 6.72M | 0.00 | 0.00 |
UL SOLUTIONS INCSOLE | CLASS A COM SHS | 841.80K | SH | $61.33M 5.52% | 841.80K | 0.00 | 0.00 |
NEW ORIENTAL ED & TECHNOLOGYSOLE | SPON ADR | 598.08K | SH | $32.27M 2.91% | 598.08K | 0.00 | 0.00 |
PLANET FITNESS INCSOLE | CL A | 270K | SH | $29.44M 2.65% | 270K | 0.00 | 0.00 |
VIASAT INCSOLE | COM | 1.48M | SH | $21.66M 1.95% | 1.48M | 0.00 | 0.00 |
H WORLD GROUP LTDSOLE | SPONSORED ADS | 488.96K | SH | $16.59M 1.49% | 488.96K | 0.00 | 0.00 |
AKERO THERAPEUTICS INCSOLE | COM | 299.79K | SH | $16.00M 1.44% | 299.79K | 0.00 | 0.00 |
ATRENEW INCSOLE | SPONSORED ADS | 3.16M | SH | $10.47M 0.94% | 3.16M | 0.00 | 0.00 |
INVENTIVA SASOLE | ADS | 2.64M | SH | $8.44M 0.76% | 2.64M | 0.00 | 0.00 |
ACM RESH INCSOLE | COM CL A | 280.20K | SH | $7.26M 0.65% | 280.20K | 0.00 | 0.00 |
VIRIDIAN THERAPEUTICS INCSOLE | COM | 500.26K | SH | $6.99M 0.63% | 500.26K | 0.00 | 0.00 |
DENALI THERAPEUTICS INCSOLE | COM | 469.98K | SH | $6.58M 0.59% | 469.98K | 0.00 | 0.00 |
DBV TECHNOLOGIES S ASOLE | SPONSORED ADS | 656.31K | SH | $6.01M 0.54% | 656.31K | 0.00 | 0.00 |
KYMERA THERAPEUTICS INCSOLE | COM | 122.61K | SH | $5.35M 0.48% | 122.61K | 0.00 | 0.00 |
SILVACO GROUP INCSOLE | COM | 1.10M | SH | $5.17M 0.47% | 1.10M | 0.00 | 0.00 |
TAL EDUCATION GROUPSOLE | SPONSORED ADS | 309.24K | SH | $3.16M 0.28% | 309.24K | 0.00 | 0.00 |
AGORA INCSOLE | ADS | 533.55K | SH | $2.03M 0.18% | 533.55K | 0.00 | 0.00 |
BEAM THERAPEUTICS INCSOLE | COM | 69.06K | SH | $1.17M 0.11% | 69.06K | 0.00 | 0.00 |
YATSEN HLDG LTDSOLE | SPONSORED ADS | 96.33K | SH | $928.6K 0.08% | 96.33K | 0.00 | 0.00 |
GENERATION BIO COSOLE | COM | 1.06M | SH | $337.8K 0.03% | 1.06M | 0.00 | 0.00 |
TUNIU CORPSOLE | SPONSORED ADS | 314.44K | SH | $264.8K 0.02% | 314.44K | 0.00 | 0.00 |