Yiheng Capital Management, L.P. Long-Term Concentrated

Location: San Francisco, CA

CIK: 0001447228 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Aug 14, 2025

Total Value: $1.111B (100.0% shares, 0.0% debt)

Holdings (25)

JD JD.COM INC 47.5%

Value $528M Shares 16,178,900 Share Price $32.64 Est. Cost/Share $32.65 Unrealized @ Report Date —

BILI BILIBILI INC 17.5%

Value $194M Shares 9,044,300 Share Price $21.45 Est. Cost/Share $21.59 Unrealized @ Report Date —

NOAH NOAH HLDGS LTD 7.2%

Value $80.23M Shares 6,719,722 Share Price $11.94 Est. Cost/Share $31.83 Unrealized @ Report Date —

ULS UL SOLUTIONS INC 5.5%

Value $61.33M Shares 841,800 Share Price $72.86 Est. Cost/Share — Unrealized @ Report Date —

BILI BILIBILI INC 3.7%

Value $41.15M Shares 1,918,564 Share Price $21.45 Est. Cost/Share $21.59 Unrealized @ Report Date —

EDU NEW ORIENTAL ED & TECHNOLOGY 2.9%

Value $32.27M Shares 598,080 Share Price $53.95 Est. Cost/Share $24.02 Unrealized @ Report Date —

PLNT PLANET FITNESS INC 2.7%

Value $29.44M Shares 270,000 Share Price $109.05 Est. Cost/Share — Unrealized @ Report Date —

JD JD.COM INC 2.3%

Value $25.7M Shares 787,413 Share Price $32.64 Est. Cost/Share $32.65 Unrealized @ Report Date —

VSAT VIASAT INC 2.0%

Value $21.66M Shares 1,483,500 Share Price $14.60 Est. Cost/Share — Unrealized @ Report Date —

HTHT H WORLD GROUP LTD 1.5%

Value $16.59M Shares 488,964 Share Price $33.92 Est. Cost/Share $36.39 Unrealized @ Report Date —

— AKERO THERAPEUTICS INC 1.4%

Value $16M Shares 299,791 Share Price $53.36 Est. Cost/Share $24.82 Unrealized @ Report Date —

RERE ATRENEW INC 0.9%

Value $10.47M Shares 3,163,117 Share Price $3.31 Est. Cost/Share $3.08 Unrealized @ Report Date —

IVA INVENTIVA SA 0.8%

Value $8.437M Shares 2,644,926 Share Price $3.19 Est. Cost/Share $10.94 Unrealized @ Report Date —

ACMR ACM RESH INC 0.7%

Value $7.257M Shares 280,201 Share Price $25.90 * Est. Cost/Share $18.86 Unrealized @ Report Date +19.2%

VRDN VIRIDIAN THERAPEUTICS INC 0.6%

Value $6.994M Shares 500,261 Share Price $13.98 * Est. Cost/Share $23.45 Unrealized @ Report Date -42.1%

DNLI DENALI THERAPEUTICS INC 0.6%

Value $6.575M Shares 469,981 Share Price $13.99 Est. Cost/Share $35.75 Unrealized @ Report Date -60.6%

DBVT DBV TECHNOLOGIES S A 0.5%

Value $6.012M Shares 656,309 Share Price $9.16 Est. Cost/Share $3.09 Unrealized @ Report Date —

KYMR KYMERA THERAPEUTICS INC 0.5%

Value $5.35M Shares 122,605 Share Price $43.64 * Est. Cost/Share $36.45 Unrealized @ Report Date -5.5%

SVCO SILVACO GROUP INC 0.5%

Value $5.174M Shares 1,096,282 Share Price $4.72 Est. Cost/Share $6.68 Unrealized @ Report Date -29.1%

TAL TAL EDUCATION GROUP 0.3%

Value $3.16M Shares 309,240 Share Price $10.22 Est. Cost/Share $8.42 Unrealized @ Report Date —

API AGORA INC 0.2%

Value $2.033M Shares 533,547 Share Price $3.81 Est. Cost/Share $3.89 Unrealized @ Report Date —

BEAM BEAM THERAPEUTICS INC 0.1%

Value $1.175M Shares 69,058 Share Price $17.01 * Est. Cost/Share $34.55 Unrealized @ Report Date -49.6%

YSG YATSEN HLDG LTD 0.1%

Value $929K Shares 96,328 Share Price $9.64 Est. Cost/Share $4.72 Unrealized @ Report Date —

— GENERATION BIO CO 0.0%

Value $338K Shares 1,055,269 Share Price $0.32 Est. Cost/Share $1.00 Unrealized @ Report Date —

TOUR TUNIU CORP 0.0%

Value $265K Shares 314,437 Share Price $0.84 Est. Cost/Share $0.84 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
JD	JD.COM INC	16,178,900	$528M	47.5%	$32.64	$32.65	—	Call	47215P106
BILI	BILIBILI INC	9,044,300	$194M	17.5%	$21.45	$21.59	—	Call	090040106
NOAH	NOAH HLDGS LTD	6,719,722	$80.23M	7.2%	$11.94	$31.83	—	SPON ADS	65487X102
ULS	UL SOLUTIONS INC	841,800	$61.33M	5.5%	$72.86	—	—	Put	903731107
BILI	BILIBILI INC	1,918,564	$41.15M	3.7%	$21.45	$21.59	—	SPONS ADS REP Z	090040106
EDU	NEW ORIENTAL ED & TECHNOLOGY	598,080	$32.27M	2.9%	$53.95	$24.02	—	SPON ADR	647581206
PLNT	PLANET FITNESS INC	270,000	$29.44M	2.7%	$109.05	—	—	Put	72703H101
JD	JD.COM INC	787,413	$25.7M	2.3%	$32.64	$32.65	—	SPON ADS CL A	47215P106
VSAT	VIASAT INC	1,483,500	$21.66M	2.0%	$14.60	—	—	Put	92552V100
HTHT	H WORLD GROUP LTD	488,964	$16.59M	1.5%	$33.92	$36.39	—	SPONSORED ADS	44332N106
—	AKERO THERAPEUTICS INC	299,791	$16M	1.4%	$53.36	$24.82	—	COM	00973Y108
RERE	ATRENEW INC	3,163,117	$10.47M	0.9%	$3.31	$3.08	—	SPONSORED ADS	00138L108
IVA	INVENTIVA SA	2,644,926	$8.437M	0.8%	$3.19	$10.94	—	ADS	46124U107
ACMR	ACM RESH INC	280,201	$7.257M	0.7%	$25.90 *	$18.86	+19.2%	COM CL A	00108J109
VRDN	VIRIDIAN THERAPEUTICS INC	500,261	$6.994M	0.6%	$13.98 *	$23.45	-42.1%	COM	92790C104
DNLI	DENALI THERAPEUTICS INC	469,981	$6.575M	0.6%	$13.99	$35.75	-60.6%	COM	24823R105
DBVT	DBV TECHNOLOGIES S A	656,309	$6.012M	0.5%	$9.16	$3.09	—	SPONSORED ADS	23306J309
KYMR	KYMERA THERAPEUTICS INC	122,605	$5.35M	0.5%	$43.64 *	$36.45	-5.5%	COM	501575104
SVCO	SILVACO GROUP INC	1,096,282	$5.174M	0.5%	$4.72	$6.68	-29.1%	COM	82728C102
TAL	TAL EDUCATION GROUP	309,240	$3.16M	0.3%	$10.22	$8.42	—	SPONSORED ADS	874080104
API	AGORA INC	533,547	$2.033M	0.2%	$3.81	$3.89	—	ADS	00851L103
BEAM	BEAM THERAPEUTICS INC	69,058	$1.175M	0.1%	$17.01 *	$34.55	-49.6%	COM	07373V105
YSG	YATSEN HLDG LTD	96,328	$929K	0.1%	$9.64	$4.72	—	SPONSORED ADS	985194208
—	GENERATION BIO CO	1,055,269	$338K	0.0%	$0.32	$1.00	—	COM	37148K100
TOUR	TUNIU CORP	314,437	$265K	0.0%	$0.84	$0.84	—	SPONSORED ADS	89977P106