Yiheng Capital Management, L.P.

Q3 2025 13F-HR Holdings

Location
San Francisco, CA
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
27
Total value ($000)
$678,109
Net value change ($000)
-432,512 (-38.9%)
New positions
4
Sold out positions
1
Turnover %
5.5%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/14/2025 Next filing: 2/17/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
IVA 6,877 81.5%
RARE 6,791 NEW
PONY 4,505 NEW
CLBT 4,281 NEW
RERE 4,080 39.0%
VRDN 3,802 54.4%
ACMR 3,707 51.1%
JD 1,843 7.2%
KYMR 1,589 29.7%
HTHT 1,289 7.8%
Top Reduces (Value $000, Stocks/ETFs)
AKRO -6,925 -43.3%
EDU -4,569 -14.2%
NOAH -2,379 -3.0%
BILI -1,306 -3.2%
GBIO -338 -100.0%
YSG -56 -6.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 375,766 (55.4% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type