Vault-13

YATSEN HLDG LTD

ADS · CUSIP 985194109

41 institutional holders -4 vs Q1 2023
86,562,36086.6m shares reported held*
$87.4mreported value*
5 new 12 added 12 reduced 9 sold out net sold ≈ $9.2m (-9.1m shares)

* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once. Holder counts are more reliable. Implied quarter-end price ≈ $1.01. Options: 5 managers hold calls ($105.3k notional), 4 hold puts ($26.3k).

Trends to Q2 2023

Institutional holders

Managers reporting a position, each quarter

0204060Q3 22: 38Q4 22: 37Q1 23: 45Q2 23: 4141Q3 22Q4 22Q1 23Q2 23
Numbers
QuarterHolders
Q3 202238
Q4 202237
Q1 202345
Q2 202341

Buyers vs sellers

Managers adding to or starting a position, vs cutting or selling out

Bought or addedCut or sold out
40040Q4 22: 13 bought or addedQ4 22: 16 cut or sold outQ4 22Q1 23: 21 bought or addedQ1 23: 17 cut or sold outQ1 23Q2 23: 17 bought or addedQ2 23: 21 cut or sold outQ2 23
Numbers
QuarterBought or addedCut or sold out
Q4 20221316
Q1 20232117
Q2 20231721

Calls vs puts

Options held, notional value, last 4 quarters. P/C = puts ÷ calls

CallsPuts
$0$100k$200k$300k$400kQ3 22 calls: $352.0kQ3 22 puts: $237.0kQ3 22P/C 0.67Q4 22 calls: $373.9kQ4 22 puts: $97.3kQ4 22P/C 0.26Q1 23 calls: $117.8kQ1 23 puts: $39.3kQ1 23P/C 0.33Q2 23 calls: $105.3kQ2 23 puts: $26.3kQ2 23P/C 0.25
Numbers
QuarterCallsPutsP/C
Q3 2022$352.0k$237.0k0.67
Q4 2022$373.9k$97.3k0.26
Q1 2023$117.8k$39.3k0.33
Q2 2023$105.3k$26.3k0.25

Biggest buyers

MORGAN STANLEY Added +2,864,229+2.9m
VANGUARD GROUP INC Added +2,686,683+2.7m
Regal Partners Ltd New +751,025+751.0k
STATE STREET CORP Added +303,122+303.1k
GSA CAPITAL PARTNERS LLP New +270,977+271.0k
CHARLES SCHWAB INVESTMENT MANAGEMENT INC Added +161,672+161.7k
California Public Employees Retirement System Added +92,760+92.8k
Schonfeld Strategic Advisors LLC New +49,100+49.1k
TWO SIGMA SECURITIES, LLC New +26,348+26.3k
TWO SIGMA ADVISERS, LP Added +25,400+25.4k

Biggest sellers

WELLINGTON MANAGEMENT GROUP LLP Sold out -13,170,708-13.2m
RENAISSANCE TECHNOLOGIES LLC Reduced -612,415-612.4k
Alberta Investment Management Corp Sold out -579,929-579.9k
WARBURG PINCUS LLC Reduced -500,000-500.0k
TWO SIGMA INVESTMENTS, LP Reduced -317,037-317.0k
NORGES BANK Reduced -295,723-295.7k
WT Asset Management Ltd Sold out -278,341-278.3k
Daiwa Securities Group Inc. Sold out -187,538-187.5k
Invesco Ltd. Reduced -88,222-88.2k
ACADIAN ASSET MANAGEMENT LLC Sold out -76,372-76.4k

Biggest calls

CITADEL ADVISORS LLC Reduced $44.0k43.6k shares
SIMPLEX TRADING, LLC Added $39.0k39.4k shares
WOLVERINE TRADING, LLC Reduced $21.3k21.1k shares
HAP Trading, LLC New $97513.0k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Biggest puts

GROUP ONE TRADING LLC Unchanged $10.7k10.6k shares
SIMPLEX TRADING, LLC Unchanged $10.0k10.7k shares
CITADEL ADVISORS LLC Reduced $5.6k5.5k shares
CONCOURSE FINANCIAL GROUP SECURITIES, INC. Unchanged $00 shares

Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.

Major shareholders (over 5%)

Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.

HolderStakeChangeShares Last filed
Huang Jinfeng 13G · exempt (held before listing) -1.2 pts · filed 2026-02-12 34.3% -1.2 pts 643.7m 2026-02-12

Fell to 5% or below in the last year: Banyan Partners Fund III, L.P. (1.2%, 2025-11-14)

Holders, Q2 2023

#ManagerLocationShares Value% of their portfolioChangeShares change
1 HHLR ADVISORS, LTD. 0.75% of their portfolio GRAND CAYMAN, E9 34,939,20034.9m $35.3m $35.3m 0.75% Unchanged
2 Aspex Management (HK) Ltd 0.39% of their portfolio CENTRAL, K3 13,134,54013.1m $13.3m $13.3m 0.39% Unchanged
3 VANGUARD GROUP INC 0.00% of their portfolio Valley Forge, PA 12,558,09512.6m $12.7m $12.7m 0.00% Added +2.7m +2,686,683
4 WARBURG PINCUS LLC 0.34% of their portfolio New York, NY 10,677,25810.7m $10.8m $10.8m 0.34% Reduced -500.0k -500,000
5 MORGAN STANLEY 0.00% of their portfolio NEW YORK, NY 3,044,2703.0m $3.1m $3.1m 0.00% Added +2.9m +2,864,229
6 RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio NEW YORK, NY 2,882,7462.9m $2.9m $2.9m 0.00% Reduced -612.4k -612,415
7 Yong Rong (HK) Asset Management Ltd 0.89% of their portfolio SHEUNG WAN, K3 2,000,0002.0m $2.0m $2.0m 0.89% Unchanged
8 STATE STREET CORP 0.00% of their portfolio BOSTON, MA 1,445,7841.4m $1.5m $1.5m 0.00% Added +303.1k +303,122
9 Qalhat Capital Ltd 0.51% of their portfolio ST HELIER, Y9 846,748846.7k $855.2k $855.2k 0.51% Unchanged
10 Regal Partners Ltd 0.16% of their portfolio SYDNEY, C3 751,025751.0k $758.5k $758.5k 0.16% New
11 NORGES BANK 0.00% of their portfolio OSLO, Q8 723,138723.1k $730.4k $730.4k 0.00% Reduced -295.7k -295,723
12 California Public Employees Retirement System 0.00% of their portfolio Sacramento, CA 588,128588.1k $594.0k $594.0k 0.00% Added +92.8k +92,760
13 Legal & General Group Plc 0.00% of their portfolio London, X0 578,996579.0k $584.8k $584.8k 0.00% Unchanged
14 CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio SAN FRANCISCO, CA 558,759558.8k $564.3k $564.3k 0.00% Added +161.7k +161,672
15 Invesco Ltd. 0.00% of their portfolio ATLANTA, GA 329,774329.8k $333.1k $333.1k 0.00% Reduced -88.2k -88,222
16 GSA CAPITAL PARTNERS LLP 0.03% of their portfolio LONDON, X0 270,977271.0k $274.0k $274.0k 0.03% New
17 TWO SIGMA INVESTMENTS, LP 0.00% of their portfolio NEW YORK, NY 161,365161.4k $163.0k $163.0k 0.00% Reduced -317.0k -317,037
18 Oasis Management Co Ltd. 0.05% of their portfolio GRAND CAYMAN, E9 152,824152.8k $154.4k $154.4k 0.05% Reduced -28.0k -28,030
19 BlackRock Inc. 0.00% of their portfolio New York, NY 145,452145.5k $146.9k $146.9k 0.00% Unchanged
20 GROUP ONE TRADING LLC 0.01% of their portfolio CHICAGO, IL 139,469139.5k $140.9k $140.9k 0.01% Reduced -4.5k -4,473
21 Connor, Clark & Lunn Investment Management Ltd. 0.00% of their portfolio VANCOUVER, A1 139,426139.4k $140.8k $140.8k 0.00% Reduced -2.0k -2,016
22 MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio NEW YORK, NY 93,61093.6k $94.5k $94.5k 0.00% Reduced -32.7k -32,714
23 FRANKLIN RESOURCES INC 0.00% of their portfolio San Mateo, CA 64,61764.6k $65.3k $65.3k 0.00% Added +22.8k +22,772
24 GOLDMAN SACHS GROUP INC 0.00% of their portfolio NEW YORK, NY 57,28157.3k $57.9k $57.9k 0.00% Added +2.7k +2,711
25 Schonfeld Strategic Advisors LLC 0.00% of their portfolio NEW YORK, NY 49,10049.1k $49.6k $49.6k 0.00% New
26 TWO SIGMA ADVISERS, LP 0.00% of their portfolio NEW YORK, NY 38,40038.4k $38.8k $38.8k 0.00% Added +25.4k +25,400
27 JPMORGAN CHASE & CO 0.00% of their portfolio NEW YORK, NY 35,80035.8k $36.2k $36.2k 0.00% Added +16.5k +16,496
28 TWO SIGMA SECURITIES, LLC 0.00% of their portfolio NEW YORK, NY 26,34826.3k $26.6k $26.6k 0.00% New
29 First National Trust Co 0.00% of their portfolio Johnstown, PA 26,00026.0k $26.3k $26.3k 0.00% Unchanged
30 BARCLAYS PLC 0.00% of their portfolio LONDON, X0 25,00025.0k $25.2k $25.2k 0.00% Unchanged
31 Cubist Systematic Strategies, LLC 0.00% of their portfolio STAMFORD, CT 17,61717.6k $17.8k $17.8k 0.00% Added +7.6k +7,567
32 HRT FINANCIAL LP 0.00% of their portfolio NEW YORK, NY 16,50816.5k $16.0k $16.0k 0.00% Added +551 +551
33 SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio BALA CYNWYD, PA 16,03216.0k $16.2k $16.2k 0.00% Reduced -48.9k -48,931
34 Tower Research Capital LLC (TRC) 0.00% of their portfolio NEW YORK, NY 12,35312.4k $12.5k $12.5k 0.00% Added +906 +906
35 RHUMBLINE ADVISERS 0.00% of their portfolio BOSTON, MA 5,8705.9k $5.9k $5.9k 0.00% New
36 SIMPLEX TRADING, LLC 0.00% of their portfolio CHICAGO, IL 3,8653.9k $3.0k $3.0k 0.00% Reduced -12.5k -12,538
37 OSAIC HOLDINGS, INC. 0.00% of their portfolio SCOTTSDALE, AZ 2,9402.9k $3.0k $3.0k 0.00% Unchanged
38 Steward Partners Investment Advisory, LLC 0.00% of their portfolio STAMFORD, CT 2,6002.6k $2.6k $2.6k 0.00% Unchanged
39 CITADEL ADVISORS LLC 0.00% of their portfolio MIAMI, FL 223223 $225 $225 0.00% Reduced -68.5k -68,532
40 UBS Group AG 0.00% of their portfolio ZURICH, V8 222222 $224 $224 0.00% Unchanged
41 CONCOURSE FINANCIAL GROUP SECURITIES, INC. 0.00% of their portfolio BIRMINGHAM, AL 00 $0 $0 0.00% Unchanged