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Asset Manager ← All Institutions

Yiheng Capital Management, L.P.

Q1 2026 · Filed 2026-05-15
Market Value
$224M
+4.2%
Holdings
24
+2
New Purchases
6
Added To
5
Closed
3
Reduced
3
Top 10 Concentration
84.4%
Turnover
37.5%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
HNGE 5.10% 0.00% +5.10% $11M
BILL 3.80% 0.00% +3.80% $9M
TAL 3.85% 1.57% +2.28% $9M
JOYY 2.23% 0.00% +2.23% $5M
TCOM 1.95% 0.00% +1.95% $4M
SVCO 3.46% 2.06% +1.40% $8M
EDU 9.50% 8.70% +0.80% $21M
ZEPP 0.31% 0.00% +0.31% $690K
CLBT 0.28% 0.00% +0.28% $634K
API 1.14% 1.01% +0.14% $3M
PASG 0.30% 0.19% +0.11% $676K
KYMR 2.73% 2.65% +0.07% $6M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BILI 7.44% 13.11% -5.68% $17M
ACMR 0.00% 3.19% -3.19% $0
NOAH 29.63% 31.31% -1.68% $67M
PONY 2.75% 4.40% -1.65% $6M
HTHT 7.25% 8.70% -1.46% $16M
JD 7.74% 9.16% -1.42% $17M
VRDN 1.82% 3.02% -1.20% $4M
RERE 6.61% 7.78% -1.17% $15M
IVA 0.00% 0.55% -0.55% $0
GBIO 0.00% 0.28% -0.28% $0
YMM 1.90% 2.05% -0.15% $4M
BEAM 0.22% 0.27% -0.05% $503K

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 3 $38M 16.9%
Mid Cap 12 $89M 39.8%
Small Cap 5 $96M 42.7%
Micro Cap 4 $1M 0.6%

Portfolio Analytics

Avg Market Cap
$6.3B
Median Market Cap
$3.2B
Avg P/E
21.2
Median P/E
18.3
Avg Dividend Yield
0.01%
Avg Beta
1.10
# Stocks
24
# ETFs / Funds
0

Top Holdings (24 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NOAH 29.63% 6,717,351 $67M $9.90 -$940K
2 EDU 9.50% 376,551 $21M $56.63 $3M +35,922 +10.6%
3 JD 7.74% 587,513 $17M $29.57 -$2M -99,900 -14.5%
4 BILI 7.44% 739,915 $17M $22.56 -$12M -408,983 -35.6%
5 HTHT 7.25% 323,371 $16M $50.29 -$2M -75,000 -18.8%
6 RERE 6.61% 3,163,117 $15M $4.69 -$2M
7 HNGE 5.10% 296,853 $11M $38.56 +296,853 NEW
8 TAL 3.85% 759,240 $9M $11.37 $5M +450,000 +145.5%
9 BILL 3.80% 222,820 $9M $38.30 +222,820 NEW
10 SVCO 3.46% 1,096,282 $8M $7.08 $3M
11 PONY 2.75% 653,215 $6M $9.44 -$3M
12 KYMR 2.73% 73,440 $6M $83.29 $402K
13 JOYY 2.23% 85,583 $5M $58.39 +85,583 NEW
14 TCOM 1.95% 88,112 $4M $49.79 +88,112 NEW
15 YMM 1.90% 513,248 $4M $8.30 -$152K +102,105 +24.8%
16 VRDN 1.82% 208,735 $4M $19.56 -$2M
17 API 1.14% 725,795 $3M $3.54 $398K +192,248 +36.0%
18 ZEPP 0.31% 57,731 $690K $11.95 +57,731 NEW
19 PASG 0.30% 86,097 $676K $7.85 $271K +51,796 +151.0%
20 CLBT 0.28% 46,000 $634K $13.78 +46,000 NEW
21 BEAM 0.22% 21,126 $503K $23.83 -$82K
22 IVA —% -$1M -255,915 -100.0% SOLD
23 ACMR —% -$7M -174,447 -100.0% SOLD
24 GBIO —% -$599K -105,524 -100.0% SOLD

Options Breakdown

0 Calls $0 Call Value 3 Puts $0 Put Value

Top Puts

SymbolSharesValueStatus
ALAB $0 SOLD
VSAT $0 SOLD
ULS $0 SOLD

New Positions

SymbolValue% Port
HNGE $11M 5.10%
BILL $9M 3.80%
JOYY $5M 2.23%
TCOM $4M 1.95%
ZEPP $690K 0.31%
CLBT $634K 0.28%

Sold Out Positions

SymbolValue% Port
ACMR —%
IVA —%
GBIO —%
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