Yiheng Capital Management, L.P.
CIK: 0001447228Latest portfolio: $494.3M · Q4 2025
Holdings
24
Total Value
$494.3M
New Positions
3
Closed Positions
4
Top Holdings
| # | Stock | Shares | Value | % Portfolio | Change | Type |
|---|---|---|---|---|---|---|
| 1 | ALABASTERA LABS INC | 1,427,500 | $237.5M | 48.04% | — | Put |
| 2 | NOAHNOAH HLDGS LTD | 6,717,351 | $67.4M | 13.64% | — | |
| 3 | BILIBILIBILI INC | 1,148,898 | $28.3M | 5.72% | NEW | |
| 4 | JDJD.COM INC | 687,413 | $19.7M | 3.99% | NEW | |
| 5 | N1UANEW ORIENTAL ED & TECHNOLOGY | 340,629 | $18.7M | 3.79% | -181,272 | |
| 6 | HTHTH WORLD GROUP LTD | 398,371 | $18.7M | 3.79% | -58,661 | |
| 7 | REREATRENEW INC | 3,163,117 | $16.8M | 3.39% | — | |
| 8 | VSATVIASAT INC | 455,600 | $15.7M | 3.18% | -279,900 | Put |
| 9 | DBVTDBV TECHNOLOGIES S A | 639,769 | $12.3M | 2.48% | -16,540 | |
| 10 | ULSUL SOLUTIONS INC | 150,000 | $11.8M | 2.39% | NEW | Put |
| 11 | PONYPONY AI INC | 653,215 | $9.5M | 1.92% | +453K | |
| 12 | ACMRACM RESH INC | 174,447 | $6.9M | 1.39% | -105,754 | |
| 13 | VRDNVIRIDIAN THERAPEUTICS INC | 208,735 | $6.5M | 1.31% | -291,526 | |
| 14 | KYMRKYMERA THERAPEUTICS INC | 73,440 | $5.7M | 1.16% | -49,165 | |
| 15 | SVCOSILVACO GROUP INC | 1,096,282 | $4.4M | 0.90% | — | |
| 16 | YMMFULL TRUCK ALLIANCE CO LTD | 411,143 | $4.4M | 0.89% | NEW | |
| 17 | TALTAL EDUCATION GROUP | 309,240 | $3.4M | 0.68% | — | |
| 18 | APIAGORA INC | 533,547 | $2.2M | 0.44% | — | |
| 19 | YSGYATSEN HLDG LTD | 368,347 | $1.4M | 0.29% | +272K | |
| 20 | IVAINVENTIVA SA | 255,915 | $1.2M | 0.24% | -2,389,011 | |
| 21 | GBIOGENERATION BIO CO | 105,524 | $599K | 0.12% | — | |
| 22 | BEAMBEAM THERAPEUTICS INC | 21,126 | $585K | 0.12% | -47,932 | |
| 23 | PASGPASSAGE BIO INC | 34,301 | $404K | 0.08% | NEW | |
| 24 | TOURTUNIU CORP | 314,437 | $194K | 0.04% | — |
Quarterly Changes
Sector Breakdown
Technology0.0% ($2.3747828251156996e+22T)
Healthcare0.0% ($12264649557141192.0T)
Consumer Cyclical0.0% ($1972818743167.6T)
Industrials0.0% ($118.3B)
Financial Services0.0% ($67.4M)
Unknown0.0% ($18.7M)
Consumer Defensive0.0% ($3.4M)
Filing History
| Quarter | Filing Date | Portfolio Value | Holdings |
|---|---|---|---|
| Q4 2025 | Feb 17, 2026 | $494.3M | 24 |
| Q3 2025 | Nov 14, 2025 | $678.1B | 27 |
| Q2 2025 | Aug 14, 2025 | $1.1T | 25 |
| Q1 2025 | May 15, 2025 | $1.5T | 25 |
| Q4 2024 | Feb 11, 2025 | $2.6T | 23 |
| Q3 2024 | Nov 12, 2024 | $1947.6T | 19 |
| Q2 2024 | Aug 14, 2024 | $1241.1T | 26 |
| Q1 2024 | May 15, 2024 | $1804.3T | 25 |
| Q4 2023 | Feb 14, 2024 | $1734.8T | 23 |
| Q3 2023 | Nov 14, 2023 | $1961.8T | 35 |
| Q2 2023 | Aug 14, 2023 | $1850.0T | 31 |
| Q1 2023 | May 15, 2023 | $2528.7T | 35 |
| Q4 2022 | Feb 14, 2023 | $2259.3T | 33 |
| Q3 2022 | Nov 14, 2022 | $1.6T | 36 |
| Q2 2022 | Aug 15, 2022 | $1.7T | 35 |
| Q1 2022 | May 16, 2022 | $2.2T | 37 |
| Q4 2021 | Feb 14, 2022 | $2.0T | 32 |
| Q3 2021 | Nov 15, 2021 | $2.0T | 30 |
| Q2 2021 | Aug 16, 2021 | $2.5T | 27 |
| Q1 2021 | May 17, 2021 | $2.2T | 26 |
| Q4 2020 | Feb 16, 2021 | $2.2T | 27 |
| Q3 2020 | Nov 16, 2020 | $1.7T | 23 |
| Q2 2020 | Aug 14, 2020 | $2.0T | 26 |
| Q1 2020 | May 15, 2020 | $1.3T | 24 |
| Q4 2019 | Feb 14, 2020 | $1.1T | 17 |
| Q3 2019 | Nov 14, 2019 | $817.0B | 17 |
| Q2 2019 | Aug 14, 2019 | $848.2B | 18 |
| Q1 2019 | May 15, 2019 | $854.1B | 17 |
| Q4 2018 | Feb 14, 2019 | $677.9B | 18 |
| Q3 2018 | Nov 14, 2018 | $592.2B | 16 |
| Q2 2018 | Aug 14, 2018 | $537.2B | 14 |
| Q1 2018 | May 15, 2018 | $488.8B | 16 |
| Q4 2017 | Feb 14, 2018 | $388.3B | 13 |
| Q3 2017 | Nov 14, 2017 | $365.5B | 12 |
| Q2 2017 | Aug 14, 2017 | $286.1B | 13 |
| Q1 2017 | May 15, 2017 | $239.0B | 13 |
| Q4 2016 | Feb 14, 2017 | $269.9B | 13 |
| Q3 2016 | Nov 14, 2016 | $283.4B | 13 |
| Q2 2016 | Aug 15, 2016 | $242.2B | 13 |
| Q1 2016 | May 13, 2016 | $226.1B | 13 |
Fund Information
Yiheng Capital Management, L.P. is an institutional investment manager that files 13F reports with the SEC. As of the Q4 2025 filing, the fund reported a portfolio valued at $494.3M across 24 holdings. The largest position is ASTERA LABS INC (ALAB), representing 48.0% of the portfolio. Compared to the previous quarter, the fund opened 5 new positions and closed 6 positions. 13F filings are required quarterly disclosures that provide transparency into the holdings of institutional investment managers with at least $100 million in qualifying assets.