Yiheng Capital Management, L.P.
Annual return '25
+21.3%
SPY '25
+17.7%
Alpha
+3.6ptsvs SPY
Invested
$230.7M
Holdings
24
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 99%. 2 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$NOAH
NOAH HLDGS LTD
Q4 2024: New position (6.72M shares)
28.8%
02
$EDU
NEW ORIENTAL ED & TECHNOLOGY
Q3 2025: Sold 12.7% (598.1k → 521.9k shares)
9.2%
03
$JD
JD.COM INC
Q3 2025: Sold 88.8% (32.36M → 3.63M shares)
7.5%
04
$BILI
BILIBILI INC
Q3 2025: Sold 95.6% (18.09M → 800.0k shares)
7.2%
05
$HTHT
H WORLD GROUP LTD
Q3 2025: Sold 6.5% (489.0k → 457.0k shares)
7.0%
06
$RERE
ATRENEW INC
Q4 2024: New position (3.16M shares)
6.4%
07
$HNGE
HINGE HEALTH INC
Held since at least Q1 2024
5.0%
08
$TAL
TAL ED GROUP
Q1 2025: Sold 85.9% (2.19M → 309.2k shares)
3.7%
09
$BILL
BILL HOLDINGS INC
Held since at least Q1 2024
3.7%
10
$SVCO
SILVACO GROUP INC
Q2 2025: Increased +8.3% (1.01M → 1.10M shares)
3.4%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 10:42 UTC.