Q2 2025 · 13F-HR
Yiheng Capital Management, L.P.holdings as filed
Filed 2025-08-14 · accession 0001941040-25-000486
$1.11B
Reported value
25
Positions
2025-06-30
Period end
The Brief · Yiheng Capital Management, L.P. · Q2 2025
AI · grounded in 13F
Yiheng Capital Management, L.P. established a new position in JD valued at $553.8M. The fund also initiated new stakes in BILI for $235.2M and NOAH for $80.2M. Other new additions include ULS, EDU, and PLNT. Total assets under management stand at $1.11B across 23 positions.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 47215P106 | JD | JD.COM INC | $528.1M | 47.5% | 16,178,900 | CALL | SOLE |
| 090040106 | BILI | BILIBILI INC | $194.0M | 17.5% | 9,044,300 | CALL | SOLE |
| 65487X102 | NOAH | NOAH HLDGS LTD | $80.2M | 7.22% | 6,719,722 | Common | SOLE |
| 903731107 | ULS | UL SOLUTIONS INC | $61.3M | 5.52% | 841,800 | PUT | SOLE |
| 090040106 | BILI | BILIBILI INC | $41.2M | 3.71% | 1,918,564 | Common | SOLE |
| 647581206 | EDU | NEW ORIENTAL ED & TECHNOLOGY | $32.3M | 2.91% | 598,080 | Common | SOLE |
| 72703H101 | PLNT | PLANET FITNESS INC | $29.4M | 2.65% | 270,000 | PUT | SOLE |
| 47215P106 | JD | JD.COM INC | $25.7M | 2.31% | 787,413 | Common | SOLE |
| 92552V100 | VSAT | VIASAT INC | $21.7M | 1.95% | 1,483,500 | PUT | SOLE |
| 44332N106 | HTHT | H WORLD GROUP LTD | $16.6M | 1.49% | 488,964 | Common | SOLE |
| 00973Y108 | AKRO | AKERO THERAPEUTICS INC | $16.0M | 1.44% | 299,791 | Common | SOLE |
| 00138L108 | RERE | ATRENEW INC | $10.5M | 0.94% | 3,163,117 | Common | SOLE |
| 46124U107 | IVA | INVENTIVA SA | $8.4M | 0.76% | 2,644,926 | Common | SOLE |
| 00108J109 | ACMR | ACM RESH INC | $7.3M | 0.65% | 280,201 | Common | SOLE |
| 92790C104 | VRDN | VIRIDIAN THERAPEUTICS INC | $7.0M | 0.63% | 500,261 | Common | SOLE |
| 24823R105 | DNLI | DENALI THERAPEUTICS INC | $6.6M | 0.59% | 469,981 | Common | SOLE |
| 23306J309 | DBVT | DBV TECHNOLOGIES S A | $6.0M | 0.54% | 656,309 | Common | SOLE |
| 501575104 | KYMR | KYMERA THERAPEUTICS INC | $5.4M | 0.48% | 122,605 | Common | SOLE |
| 82728C102 | SVCO | SILVACO GROUP INC | $5.2M | 0.47% | 1,096,282 | Common | SOLE |
| 874080104 | TAL | TAL EDUCATION GROUP | $3.2M | 0.28% | 309,240 | Common | SOLE |
| 00851L103 | API | AGORA INC | $2.0M | 0.18% | 533,547 | Common | SOLE |
| 07373V105 | BEAM | BEAM THERAPEUTICS INC | $1.2M | 0.11% | 69,058 | Common | SOLE |
| 985194208 | YSG | YATSEN HLDG LTD | $928,602 | 0.08% | 96,328 | Common | SOLE |
| 37148K100 | GBIOGBX | GENERATION BIO CO | $337,792 | 0.03% | 1,055,269 | Common | SOLE |
| 89977P106 | TOUR | TUNIU CORP | $264,756 | 0.02% | 314,437 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.