Q2 2026 13F · SEC CIK 1447228
Yiheng Capital Management, L.P.
Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $234.6M
- Reported positions
- 25
- Top holdings a year, 3 yrs
- +18.7%
- Assets under management
- $675.8M
Yiheng Capital Management, L.P. is a hedge fund that reported 25 positions worth $234.6M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Noah Holdings Ltd (NOAH, 28.6%), Bilibili Inc (BILI, 10.8%), Jd.com Inc (JD, 6.4%). A portfolio copying its top holdings returned 18.7% a year over the last 3 years, against 22.3% for the S&P 500.
Yiheng Capital Management, L.P. holdings all 25 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| NOAHNoah Holdings Ltd | 28.6% | +0.0% | $67.1M |
| BILIBilibili Inc | 10.8% | +101.3% | $25.4M |
| JDJd.com Inc | 6.4% | +0.5% | $15.0M |
| HTHTHuazhu Group Ltd Sponsored Ads | 5.8% | +0.0% | $13.5M |
| HNGEHinge Health, Inc. | 5.5% | -47.4% | $13.0M |
| SVCOSilvaco Group Inc | 5.3% | -17.3% | $12.5M |
| REREAtrenew Inc | 5.2% | +0.0% | $12.2M |
| BILLBill Holdings Inc | 3.4% | +0.0% | $8.1M |
| EDUNew Oriental Education & Technology Grou | 3.2% | -99.6% | $7.5M |
| VRDNViridian Therapeutics Inc | 3.1% | +91.9% | $7.4M |
| KYMRKymera Therapeutics Inc | 3.1% | -13.6% | $7.3M |
| TALTal Education Group | 3.1% | +0.0% | $7.3M |
| YYJOYY Inc | 2.4% | +0.0% | $5.6M |
| PSIXPower Solutions Intl Inc | 2.2% | — | $5.2M |
| PONYPony Ai Inc | 1.9% | +0.0% | $4.5M |
| BIOABioage Labs Inc | 1.8% | — | $4.2M |
| YMMFull Truck ADR | 1.8% | +0.0% | $4.2M |
| TCOMTrip Com Group Ltd | 1.5% | +0.0% | $3.5M |
| YSGYatsen Hldg Ltd | 1.3% | +18.6% | $3.0M |
| APIAgora Inc | 1.2% | +0.0% | $2.9M |
| DBVTDbv Technologies S A | 1.2% | +0.0% | $2.8M |
| ZEPPZepp Health Corporation | 0.5% | +281.9% | $1.1M |
| BEAMBeam Therapeutics Inc | 0.3% | +0.0% | $725K |
| PASGPassage Bio Inc | 0.2% | +0.0% | $420K |
| TOURTuniu Corp | 0.1% | — | $152K |
What Yiheng Capital Management, L.P. bought and sold in Q2 2026, against Q1 2026.
New positions
- PSIX Power Solutions Intl Inc2.2% of 13F
- BIOA Bioage Labs Inc1.8% of 13F
- TOUR Tuniu Corp0.1% of 13F
Added to
- ZEPP Zepp Health Corporation+281.9% shares
- BILI Bilibili Inc+101.3% shares
- VRDN Viridian Therapeutics Inc+91.9% shares
- YSG Yatsen Hldg Ltd+18.6% shares
Reduced
- EDU New Oriental Education & Technology Grou-99.6% shares
- HNGE Hinge Health, Inc.-47.4% shares
- SVCO Silvaco Group Inc-17.3% shares
- KYMR Kymera Therapeutics Inc-13.6% shares
Sold out
- CLBT Cellebrite Di Ltdwas 0.3%
- TOUR Tuniu Corpwas 0.1%
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- -15.1% /yr
- S&P 500 +11.7%
- 3 years
- +18.7% /yr
- S&P 500 +22.3%
- 5 years
- -0.5% /yr
- S&P 500 +10.6%
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $234.6M | 25 |
| Q1 2026 | $230.7M | 24 |
| Q4 2025 | $229.3M | 21 |
| Q3 2025 | $302.3M | 23 |
| Q2 2025 | $276.1M | 20 |
| Q1 2025 | $284.5M | 21 |
| Q4 2024 | $451.9M | 19 |
| Q3 2024 | $541.5M | 17 |
| Q2 2024 | $709.1M | 20 |
| Q1 2024 | $696.3M | 19 |
| Q4 2023 | $808.2M | 18 |
| Q3 2023 | $1.1B | 27 |
Questions about Yiheng Capital Management, L.P.'s portfolio
What stocks does Yiheng Capital Management, L.P. own?
Yiheng Capital Management, L.P.'s latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 25 positions worth $234.6M. The largest are Noah Holdings Ltd (NOAH) at 28.6%, Bilibili Inc (BILI) at 10.8%, Jd.com Inc (JD) at 6.4%, Huazhu Group Ltd Sponsored Ads (HTHT) at 5.8% and Hinge Health, Inc. (HNGE) at 5.5%.
What did Yiheng Capital Management, L.P. buy last quarter?
In Q2 2026, Yiheng Capital Management, L.P. added a new position in Power Solutions Intl Inc (PSIX), a new position in Bioage Labs Inc (BIOA), a new position in Tuniu Corp (TOUR), Zepp Health Corporation (ZEPP) (+281.9% shares), Bilibili Inc (BILI) (+101.3% shares) and Viridian Therapeutics Inc (VRDN) (+91.9% shares), compared with its Q1 2026 filing.
What did Yiheng Capital Management, L.P. sell last quarter?
In Q2 2026, Yiheng Capital Management, L.P. sold all of Cellebrite Di Ltd (CLBT), sold all of Tuniu Corp (TOUR), New Oriental Education & Technology Grou (EDU) (-99.6% shares), Hinge Health, Inc. (HNGE) (-47.4% shares) and Silvaco Group Inc (SVCO) (-17.3% shares), compared with its Q1 2026 filing.
How has Yiheng Capital Management, L.P.'s portfolio performed?
A portfolio copying Yiheng Capital Management, L.P.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +18.7% a year over the last 3 years, against +22.3% for the S&P 500. Over 1 year: -15.1% against +11.7%. Over 5 years: -0.5% a year against +10.6%.
When is Yiheng Capital Management, L.P.'s next 13F filing due?
13F filings are due 45 days after each quarter ends. Yiheng Capital Management, L.P.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.
How much money does Yiheng Capital Management, L.P. manage?
Yiheng Capital Management, L.P. reported $675.8M of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $234.6M.