Yiheng Capital Management, L.P. Q4 2025 Filing

Filed February 17, 2026

Portfolio Value

$494.3M

Holdings

24

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (24 positions)

#StockSharesValue% PortfolioType
1
ALABASTERA LABS INC
1,427,500$237.5M48.04%Put
2
NOAHNOAH HLDGS LTD
6,717,351$67.4M13.64%
3
BILIBILIBILI INC
1,148,898$28.3M5.72%
4
JDJD.COM INC
687,413$19.7M3.99%
5
N1UANEW ORIENTAL ED & TECHNOLOGY
340,629$18.7M3.79%
6
HTHTH WORLD GROUP LTD
398,371$18.7M3.79%
7
REREATRENEW INC
3,163,117$16.8M3.39%
8
VSATVIASAT INC
455,600$15.7M3.18%Put
9
DBVTDBV TECHNOLOGIES S A
639,769$12.3M2.48%
10
ULSUL SOLUTIONS INC
150,000$11.8M2.39%Put
11
PONYPONY AI INC
653,215$9.5M1.92%
12
ACMRACM RESH INC
174,447$6.9M1.39%
13
VRDNVIRIDIAN THERAPEUTICS INC
208,735$6.5M1.31%
14
KYMRKYMERA THERAPEUTICS INC
73,440$5.7M1.16%
15
SVCOSILVACO GROUP INC
1,096,282$4.4M0.90%
16
YMMFULL TRUCK ALLIANCE CO LTD
411,143$4.4M0.89%
17
TALTAL EDUCATION GROUP
309,240$3.4M0.68%
18
APIAGORA INC
533,547$2.2M0.44%
19
YSGYATSEN HLDG LTD
368,347$1.4M0.29%
20
IVAINVENTIVA SA
255,915$1.2M0.24%
21
GBIOGENERATION BIO CO
105,524$599K0.12%
22
BEAMBEAM THERAPEUTICS INC
21,126$585K0.12%
23
PASGPASSAGE BIO INC
34,301$404K0.08%
24
TOURTUNIU CORP
314,437$194K0.04%