Yiheng Capital Management, L.P.

SAN FRANCISCO, CA · CIK 1447228 · 13F filing filed 2026-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$227.1m reported value -1.6% vs Q1 2026

25positions

79.9%in top 10

3 new 5 added 4 reduced 2 sold out vs Q1 2026

Options: 3 call positions ($56.7m notional), 0 put positions (— notional) – listed below, not included above.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NOAH HLDGS LTD SPON ADS NOAH	NOAH	6,717,351	$67.1m29.55%	29.55%	Unchanged
2	BILIBILI INC SPONS ADS REP Z BILI	BILI	1,489,815	$25.4m11.17%	11.17%	Added +749.9k	+749,900 101.3%
3	JD.COM INC SPON ADS CL A JD	JD	590,513	$15.0m6.62%	6.62%	Added +3.0k	+3,000 0.5%
4	H WORLD GROUP LTD SPONSORED ADS HTHT	HTHT	323,371	$13.5m5.94%	5.94%	Unchanged
5	HINGE HEALTH INC CL A HNGE	HNGE	156,190	$13.0m5.71%	5.71%	Reduced -140.7k	-140,663 -47.4%
6	SILVACO GROUP INC COM SVCO	SVCO	906,381	$12.5m5.50%	5.50%	Reduced -189.9k	-189,901 -17.3%
7	ATRENEW INC SPONSORED ADS RERE	RERE	3,163,117	$12.2m5.39%	5.39%	Unchanged
8	BILL HOLDINGS INC COM BILL	BILL	222,820	$8.1m3.55%	3.55%	Unchanged
9	VIRIDIAN THERAPEUTICS INC COM VRDN	VRDN	400,464	$7.4m3.24%	3.24%	Added +191.7k	+191,729 91.8%
10	KYMERA THERAPEUTICS INC COM KYMR	KYMR	63,440	$7.3m3.20%	3.20%	Reduced -10.0k	-10,000 -13.6%
11	TAL EDUCATION GROUP SPONSORED ADS TAL	TAL	759,240	$7.3m3.20%	3.20%	Unchanged
12	JOYY INC ADS REPSTG COM A JOYY	JOYY	85,583	$5.6m2.49%	2.49%	Unchanged
13	POWER SOLUTIONS INTL INC COM NEW PSIX	PSIX	133,500	$5.2m2.29%	2.29%	New
14	PONY AI INC SPONSORED ADS PONY	PONY	653,215	$4.5m2.00%	2.00%	Unchanged
15	BIOAGE LABS INC COM BIOA	BIOA	170,532	$4.2m1.84%	1.84%	New
16	FULL TRUCK ALLIANCE CO LTD SPONSORED ADS YMM	YMM	513,248	$4.2m1.83%	1.83%	Unchanged
17	TRIP COM GROUP LTD ADS TCOM	TCOM	88,112	$3.5m1.55%	1.55%	Unchanged
18	YATSEN HLDG LTD SPONSORED ADS YSG	YSG	946,193	$3.0m1.32%	1.32%	Added +148.3k	+148,327 18.6%
19	AGORA INC ADS API	API	725,795	$2.9m1.28%	1.28%	Unchanged
20	DBV TECHNOLOGIES S A SPONSORED ADS DBVT	DBVT	170,142	$2.8m1.23%	1.23%	Unchanged
21	ZEPP HEALTH CORPORATION SPONSORED ADR ZEPP	ZEPP	220,501	$1.1m0.51%	0.51%	Added +162.8k	+162,770 281.9%
22	BEAM THERAPEUTICS INC COM BEAM	BEAM	21,126	$725.0k0.32%	0.32%	Unchanged
23	PASSAGE BIO INC COM NEW PASG	PASG	86,097	$420.2k0.18%	0.18%	Unchanged
24	TUNIU CORP SPONSORED ADS TOUR	TOUR	31,443	$151.9k0.07%	0.07%	New
25	NEW ORIENTAL ED & TECHNOLOGY SPON ADR EDU	EDU	1,636	$75.1k0.03%	0.03%	Reduced -374.9k	-374,915 -99.6%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
CELLEBRITE DI LTD CLBT	CLBT	46,000	$633.9k46.0k shares
TUNIU CORP TOUR	TOUR	314,437	$242.1k314.4k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
NEW ORIENTAL ED & TECHNOLOGY EDU · Call	EDU	Call	536,351	$24.6m536.4k shares	New
JD.COM INC JD · Call	JD	Call	8,443	$21.5m8.4k shares	New
BILIBILI INC BILI · Call	BILI	Call	6,230	$10.6m6.2k shares	New

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
INVENTIVA SA IVA · 13G · filed 2025-11-13	IVA	5.5%	-2.9 pts	13G	2025-11-13