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Asset Manager ← All Institutions

Yiheng Capital Management, L.P.

Q3 2025 · Filed 2025-11-14
Market Value
$295M
+9.7%
Holdings
20
+3
New Purchases
4
Added To
0
Closed
0
Reduced
5
Top 10 Concentration
85.4%
Turnover
20.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
RARE 2.31% 0.00% +2.31% $7M
IVA 5.20% 3.14% +2.06% $15M
PONY 1.53% 0.00% +1.53% $5M
CLBT 1.45% 0.00% +1.45% $4M
VRDN 3.66% 2.60% +1.06% $11M
RERE 4.94% 3.90% +1.04% $15M
ACMR 3.72% 2.70% +1.02% $11M
KYMR 2.36% 1.99% +0.36% $7M
GBIO 0.22% 0.00% +0.22% $646K
BEAM 0.57% 0.44% +0.13% $2M
SVCO 2.01% 1.93% +0.09% $6M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NOAH 26.43% 29.88% -3.45% $78M
AKRO 3.08% 5.96% -2.88% $9M
EDU 9.40% 12.01% -2.61% $28M
BILI 13.53% 15.32% -1.80% $40M
JD 9.35% 9.57% -0.22% $28M
DNLI 2.32% 2.45% -0.13% $7M
HTHT 6.07% 6.18% -0.11% $18M
API 0.69% 0.76% -0.07% $2M
TAL 1.18% 1.18% -0.00% $3M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 2 $45M 15.4%
Mid Cap 11 $122M 41.4%
Small Cap 5 $111M 37.7%
Micro Cap 2 $16M 5.4%

Portfolio Analytics

Avg Market Cap
$5.6B
Median Market Cap
$3.1B
Avg P/E
25.7
Median P/E
20.9
Avg Dividend Yield
0.01%
Avg Beta
1.02
# Stocks
20
# ETFs / Funds
0

Top Holdings (20 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NOAH 26.43% 6,717,351 $78M $11.59 -$2M -2,371 -0.0%
2 BILI 13.53% 1,418,564 $40M $28.09 -$1M -500,000 -26.1%
3 EDU 9.40% 521,901 $28M $53.07 -$5M -76,179 -12.7%
4 JD 9.35% 787,413 $28M $34.98 $2M
5 HTHT 6.07% 457,032 $18M $39.11 $1M -31,932 -6.5%
6 IVA 5.20% 2,644,926 $15M $5.79 $7M
7 RERE 4.94% 3,163,117 $15M $4.60 $4M
8 ACMR 3.72% 280,201 $11M $39.13 $4M
9 VRDN 3.66% 500,261 $11M $21.58 $4M
10 AKRO 3.08% 191,076 $9M $47.48 -$7M -108,715 -36.3%
11 KYMR 2.36% 122,605 $7M $56.60 $2M
12 DNLI 2.32% 469,981 $7M $14.52 $249K
13 RARE 2.31% 225,758 $7M $30.08 +225,758 NEW
14 SVCO 2.01% 1,096,282 $6M $5.41 $756K
15 PONY 1.53% 200,300 $5M $22.49 +200,300 NEW
16 CLBT 1.45% 231,031 $4M $18.53 +231,031 NEW
17 TAL 1.18% 309,240 $3M $11.20 $303K
18 API 0.69% 533,547 $2M $3.82 $5K
19 BEAM 0.57% 69,058 $2M $24.27 $501K
20 GBIO 0.22% 105,524 $646K $6.12 +105,524 NEW

Options Breakdown

2 Calls $75M Call Value 4 Puts $301M Put Value 4.03 P/C Ratio

Top Calls

SymbolSharesValueStatus
JD 1,814,600 $63M
BILI 400,000 $11M

Top Puts

SymbolSharesValueStatus
ALAB 1,427,500 $280M NEW
VSAT 735,500 $22M
ULS $0 SOLD
PLNT $0 SOLD

New Positions

SymbolValue% Port
RARE $7M 2.31%
PONY $5M 1.53%
CLBT $4M 1.45%
GBIO $646K 0.22%
View SEC EDGAR Filings for Yiheng Capital Management, L.P. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms