Yiheng Capital Management, L.P.
Yiheng Capital Management, L.P. is a New York-headquartered hedge fund founded in 2008. The firm focuses on global investments, with a particular emphasis on China-related securities. Yiheng Capital serves institutional investors and has an employee count estimated to be between 10 and 50, based on industry sources and disclosed assets.
Investment Strategy
Yiheng Capital Management, L.P. specializes in fundamental, research-driven investing focused primarily on Greater China and China-related global equity and equity-linked securities. The firm seeks to achieve alpha through deep company research, active security selection, and tactical portfolio management, often utilizing both long and short positions. Yiheng targets companies with strong growth potential and robust fundamentals, while limiting risk through diversification and prudent capital allocation.
Top Holdings
Equity Positions (20)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
N NOAH | NOAH HLDGS LTD | 7.22% | $80.2M | 6,719,722 | $31.91 | $11.94 | +$16.7M |
B BILI | BILIBILI INC | 3.71% | $41.2M | 1,918,564 | $21.63 | $21.45 | -$18.9M |
E EDU | NEW ORIENTAL ED & TECHNOLOGY | 2.91% | $32.3M | 598,080 | $24.02 | $53.95 | +$3.7M |
J JD | JD.COM INC | 2.31% | $25.7M | 787,413 | $32.64 | $32.64 | +$2.5M |
H HTHT | H WORLD GROUP LTD | 1.49% | $16.6M | 488,964 | $36.45 | $33.92 | -$7.3M |
Options Positions (5)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
J JD | JD.COM INC | Bought | Call | $528.1M | 161,789 | $32.64 | $36.43 | +35,872 | +$10.3M |
B BILI | BILIBILI INC | Sold | Call | $194.0M | 90,443 | $21.45 | $18.32 | -10,644 | +$823.0K |
U ULS | UL SOLUTIONS INC | New | Put | $61.3M | 8,418 | $72.86 | $72.86 | +8,418 | +$61.3M |
P PLNT | PLANET FITNESS INC | New | Put | $29.4M | 2,700 | $109.05 | $109.05 | +2,700 | +$29.4M |
V VSAT | VIASAT INC | New | Put | $21.7M | 14,835 | $14.60 | $14.60 | +14,835 | +$21.7M |