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Yiheng Capital Management, L.P.

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13F filer, CIK 1447228, SAN FRANCISCO, CA

Yiheng Capital Management, L.P. reported $230,699,792 across 24 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-15. Its ten largest share positions make up 82.08% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001420506-26-001131

Period
2026-03-31
Reported value
$231M
Holdings
24
Top 10 weight
82.08%
New
6
Sold out
6

Largest buys vs the previous quarter

SecurityShares changeApprox. value
HNGEnew+296,853$11.4M
BILLnew+222,820$8.53M
TALadded+450,000$5.12M
JOYYnew+85,583$5M
TCOMnew+88,112$4.39M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
DBVTreduced-469,627-$9.81M
BILIreduced-408,983-$9.23M
ACMRexited-174,447-$6.88M
HTHTreduced-75,000-$3.77M
JDreduced-99,900-$2.95M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2026

Share positions as resolved from 13F-HR 0001420506-26-001131, largest first. % of portfolio is the value over $230,699,792, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
NOAHNOAH HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 6,719,722 shares; 2024Q4: 6,719,722 shares; 2025Q1: 6,719,722 shares; 2025Q2: 6,719,722 shares; 2025Q3: 6,717,351 shares; 2025Q4: 6,717,351 shares; 2026Q1: 6,717,351 shares 6,717,351$66.5M28.83%0Timeline
EDUNEW ORIENTAL ED & TECHNOLOGYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 518,314 shares; 2024Q4: 518,314 shares; 2025Q1: 598,080 shares; 2025Q2: 598,080 shares; 2025Q3: 521,901 shares; 2025Q4: 340,629 shares; 2026Q1: 376,551 shares 376,551$21.3M9.24%+35,922Timeline
JDJD.COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,513,184 shares; 2024Q4: 1,513,184 shares; 2025Q1: 564,113 shares; 2025Q2: 787,413 shares; 2025Q3: 787,413 shares; 2025Q4: 687,413 shares; 2026Q1: 587,513 shares 587,513$17.4M7.53%-99,900Timeline
BILIBILIBILI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 6,331,274 shares; 2024Q4: 4,908,781 shares; 2025Q1: 3,143,667 shares; 2025Q2: 1,918,564 shares; 2025Q3: 1,418,564 shares; 2025Q4: 1,148,898 shares; 2026Q1: 739,915 shares 739,915$16.7M7.24%-408,983Timeline
HTHTH WORLD GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,603,978 shares; 2024Q4: 1,306,395 shares; 2025Q1: 645,658 shares; 2025Q2: 488,964 shares; 2025Q3: 457,032 shares; 2025Q4: 398,371 shares; 2026Q1: 323,371 shares 323,371$16.3M7.05%-75,000Timeline
REREATRENEW INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 1,523,258 shares; 2024Q4: 3,163,117 shares; 2025Q1: 3,163,117 shares; 2025Q2: 3,163,117 shares; 2025Q3: 3,163,117 shares; 2025Q4: 3,163,117 shares; 2026Q1: 3,163,117 shares 3,163,117$14.8M6.43%0Timeline
HNGEHINGE HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 296,853 shares 296,853$11.4M4.96%newTimeline
TALTAL ED GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 2,187,618 shares; 2024Q4: 2,187,618 shares; 2025Q1: 309,240 shares; 2025Q2: 309,240 shares; 2025Q3: 309,240 shares; 2025Q4: 309,240 shares; 2026Q1: 759,240 shares 759,240$8.63M3.74%+450,000Timeline
BILLBILL HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 222,820 shares 222,820$8.53M3.7%newTimeline
SVCOSILVACO GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,012,332 shares; 2025Q2: 1,096,282 shares; 2025Q3: 1,096,282 shares; 2025Q4: 1,096,282 shares; 2026Q1: 1,096,282 shares 1,096,282$7.76M3.36%0Timeline
PONYPONY AI INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 200,300 shares; 2025Q4: 653,215 shares; 2026Q1: 653,215 shares 653,215$6.17M2.67%0Timeline
KYMRKYMERA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 122,605 shares; 2025Q2: 122,605 shares; 2025Q3: 122,605 shares; 2025Q4: 73,440 shares; 2026Q1: 73,440 shares 73,440$6.12M2.65%0Timeline
JOYYJOYY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 85,583 shares 85,583$5M2.17%newTimeline
TCOMTRIP COM GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 88,112 shares 88,112$4.39M1.9%newTimeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 411,143 shares; 2026Q1: 513,248 shares 513,248$4.26M1.85%+102,105Timeline
VRDNVIRIDIAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 847,891 shares; 2024Q4: 750,261 shares; 2025Q1: 500,261 shares; 2025Q2: 500,261 shares; 2025Q3: 500,261 shares; 2025Q4: 208,735 shares; 2026Q1: 208,735 shares 208,735$4.08M1.77%0Timeline
DBVTDBV TECHNOLOGIES S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 656,309 shares; 2025Q1: 656,309 shares; 2025Q2: 656,309 shares; 2025Q3: 656,309 shares; 2025Q4: 639,769 shares; 2026Q1: 170,142 shares 170,142$3.55M1.54%-469,627Timeline
APIAGORA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 192,580 shares; 2025Q2: 533,547 shares; 2025Q3: 533,547 shares; 2025Q4: 533,547 shares; 2026Q1: 725,795 shares 725,795$2.57M1.11%+192,248Timeline
YSGYATSEN HLDG LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 10,508 shares; 2025Q1: 96,328 shares; 2025Q2: 96,328 shares; 2025Q3: 96,328 shares; 2025Q4: 368,347 shares; 2026Q1: 797,866 shares 797,866$2.46M1.07%+429,519Timeline
ZEPPZEPP HEALTH CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 57,731 shares 57,731$690K0.3%newTimeline
PASGPASSAGE BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 34,301 shares; 2026Q1: 86,097 shares 86,097$676K0.29%+51,796Timeline
CLBTCELLEBRITE DI LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 231,031 shares; 2025Q4: not reported; 2026Q1: 46,000 shares 46,000$634K0.27%newTimeline
BEAMBEAM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 763,760 shares; 2024Q4: 426,102 shares; 2025Q1: 69,058 shares; 2025Q2: 69,058 shares; 2025Q3: 69,058 shares; 2025Q4: 21,126 shares; 2026Q1: 21,126 shares 21,126$503K0.22%0Timeline
TOURTUNIU CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: 314,437 shares; 2024Q4: 314,437 shares; 2025Q1: 314,437 shares; 2025Q2: 314,437 shares; 2025Q3: 314,437 shares; 2025Q4: 314,437 shares; 2026Q1: 314,437 shares 314,437$242K0.1%0Timeline

Sold out in Q1 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ALABASTERA LABS INC1,427,500$237Mput
VSATVIASAT INC455,600$15.7Mput
ULSUL SOLUTIONS INC150,000$11.8Mput
ACMRACM RESH INC174,447$6.88Mshares
IVAINVENTIVA SA255,915$1.19Mshares
GENERATION BIO COGENERATION BIO CO105,524$599Kshares

How Q1 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001420506-26-001131 base2026-05-15acceptance time not in the bulk data set