Yiheng Capital Management, L.P.

Q4 2025 13F-HR Holdings

Location
San Francisco, CA
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
24
Total value ($000)
$494,315
Net value change ($000)
-183,794 (-27.1%)
New positions
2
Sold out positions
4
Turnover %
13.9%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 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)
DBVT 5,701 86.9%
PONY 4,967 110.3%
YMM 4,412 NEW
RERE 2,215 15.2%
HTHT 868 4.9%
YSG 560 64.1%
PASG 405 NEW
API 134 6.6%
Top Reduces (Value $000, Stocks/ETFs)
IVA -14,124 -92.2%
BILI -11,596 -29.1%
NOAH -10,412 -13.4%
AKRO -9,072 -100.0%
EDU -8,952 -32.3%
JD -7,815 -28.4%
DNLI -6,824 -100.0%
RARE -6,791 -100.0%
VRDN -4,300 -39.8%
CLBT -4,281 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 265,008 (53.6% 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