FengHe Fund Management Pte. Ltd. — Quarter-over-Quarter 13F Allocation Shifts Q1 2026
In Q1 2026, FengHe Fund Management Pte. Ltd. initiated 10 new positions, increased allocation to 4 existing positions, trimmed 10 positions, and exited 17 positions entirely. The fund's 13F equity book declined from $1.78B to $0.72B (-59.3% QoQ) . All deltas are sourced from sequential SEC Form 13F-HR filings; share-count changes reflect explicit trading activity, while weight changes can also include price movement. This page lists every position change reported — the portfolio overview shows a summary of the top shifts.
Net Portfolio Value Change
- $1.78BPrior quarter
- $0.72BCurrent quarter
- $-1.05BNet delta
- -59.3%% change
New Position Initiations Q1 2026
Securities disclosed for the first time in Q1 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Allocation Weight | History |
|---|---|---|---|
| MKS INC. | MKSI | 14.49% | History → |
| BWX TECHNOLOGIES | BWXT | 11.11% | History → |
| TERADYNE INC | TER | 8.06% | History → |
| MODINE MFG CO | MOD | 1.88% | Holders → |
| MICROSOFT CORP | MSFT | 1.34% | Holders → |
| ALCOA CORP | AA | 1.01% | Holders → |
| BARRICK MNG CORP | B | 0.79% | Holders → |
| WOODWARD INC | WWD | 0.68% | Holders → |
| JOYY, INC. | JOYY | 0.22% | Holders → |
| TENCENT MUSIC ENTMT GROUP | TME | 0.16% | Holders → |
Largest Allocation Increases Q1 2026
Largest portfolio-weight increases in existing positions. Share-count delta is shown separately so price-only re-weighting can be distinguished from active adds.
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| ASML HOLDING NV | ASML | +3.86% | +155.81% | Holders → |
| ADVANCED MICRO DEVICES INC | AMD | +2.11% | +46.07% | Holders → |
| SEA LTD., CLASS A, ADR | SE | +0.10% | +37.39% | Holders → |
| NVIDIA CORPORATION | NVDA | +0.47% | +15.13% | Holders → |
Largest Allocation Reductions Q1 2026
Largest portfolio-weight decreases in existing positions (positions kept open at a lower allocation).
| Company | Ticker | Δ Weight | Δ Shares | History |
|---|---|---|---|---|
| CIENA CORP | CIEN | -3.91% | -86.50% | History → |
| ALNYLAM PHARMACEUTICALS, INC. | ALNY | -3.41% | -85.14% | Holders → |
| TAL ED GROUP | TAL | -0.24% | -79.74% | Holders → |
| BROADCOM INC | AVGO | -3.09% | -79.46% | Holders → |
| MACOM TECH SOLUTIONS HLDGS I | MTSI | -1.71% | -79.12% | Holders → |
| CARPENTER TECHNOLOGY CORP | CRS | -0.70% | -78.49% | Holders → |
| ALPHABET INC | GOOGL | -4.02% | -75.10% | History → |
| LUMENTUM HLDGS INC | LITE | 1.14% | -72.53% | History → |
| TAIWAN SEMICONDUCTOR MANUFAC | TSM | -0.21% | -64.80% | History → |
| L3HARRIS TECHNOLOGIES INC | LHX | 0.39% | -62.34% | History → |
Exited Positions Q1 2026
Positions present in the prior 13F-HR filing that no longer appear in Q1 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| SANDISK CORP/DE | SNDK | 5.77% |
| UNITY SOFTWARE INC | U | 4.31% |
| APPLOVIN CORP | APP | 3.57% |
| ELI LILLY & CO | LLY | 3.10% |
| CORNING INC | GLW | 2.88% |
| MERCK & CO INC | MRK | 2.49% |
| VERTIV HOLDINGS CO | VRT | 2.19% |
| WERIDE INC | WRD | 2.04% |
| THE BOEING COMPANY | BA | 2.00% |
| KRATOS DEFENSE & SEC SOLUTIO | KTOS | 1.99% |
| AMPHENOL CORP | APH | 1.45% |
| ARROWHEAD PHARMACEUTICALS INC | ARWR | 1.00% |
| DAQO NEW ENERGY CORP | DQ | 0.34% |
| COHERENT CORP | COHR | 0.30% |
| MARVELL TECHNOLOGY, INC. | MRVL | 0.19% |
| COINBASE GLOBAL INC | COIN | 0.16% |
| STRATEGY INC | MSTR | 0.15% |
Methodology & FAQ
How FengHe Fund Management Pte. Ltd. Quarterly Changes Are Computed
Each row above is computed by joining the most recent 13F-HR filing for FengHe Fund Management Pte. Ltd. against the immediately preceding quarterly filing for the same fund. Portfolio weights are normalized to exclude listed options for comparability. A complete description of the methodology — including how confidential treatment filings are handled and why share count rather than weight is the cleaner trading signal — is documented in the Methodology.
Which positions did FengHe Fund Management Pte. Ltd. initiate in Q1 2026?
FengHe Fund Management Pte. Ltd. established 10 new positions in Q1 2026: MKS INC. (MKSI, 14.49%), BWX TECHNOLOGIES (BWXT, 11.11%), TERADYNE INC (TER, 8.06%), MODINE MFG CO (MOD, 1.88%), MICROSOFT CORP (MSFT, 1.34%), ALCOA CORP (AA, 1.01%), BARRICK MNG CORP (B, 0.79%), WOODWARD INC (WWD, 0.68%), JOYY, INC. (JOYY, 0.22%), TENCENT MUSIC ENTMT GROUP (TME, 0.16%).
Which existing positions saw the largest allocation increases for FengHe Fund Management Pte. Ltd. in Q1 2026?
The largest portfolio-weight increases in existing positions were: ASML HOLDING NV (ASML, +3.86% weight, +155.81% shares), ADVANCED MICRO DEVICES INC (AMD, +2.11% weight, +46.07% shares), SEA LTD., CLASS A, ADR (SE, +0.10% weight, +37.39% shares), NVIDIA CORPORATION (NVDA, +0.47% weight, +15.13% shares).
Which positions did FengHe Fund Management Pte. Ltd. fully exit in Q1 2026?
FengHe Fund Management Pte. Ltd. fully exited 17 positions in Q1 2026: SANDISK CORP/DE (SNDK, last-reported weight 5.77%), UNITY SOFTWARE INC (U, last-reported weight 4.31%), APPLOVIN CORP (APP, last-reported weight 3.57%), ELI LILLY & CO (LLY, last-reported weight 3.10%), CORNING INC (GLW, last-reported weight 2.88%), MERCK & CO INC (MRK, last-reported weight 2.49%), VERTIV HOLDINGS CO (VRT, last-reported weight 2.19%), WERIDE INC (WRD, last-reported weight 2.04%), THE BOEING COMPANY (BA, last-reported weight 2.00%), KRATOS DEFENSE & SEC SOLUTIO (KTOS, last-reported weight 1.99%), AMPHENOL CORP (APH, last-reported weight 1.45%), ARROWHEAD PHARMACEUTICALS INC (ARWR, last-reported weight 1.00%), DAQO NEW ENERGY CORP (DQ, last-reported weight 0.34%), COHERENT CORP (COHR, last-reported weight 0.30%), MARVELL TECHNOLOGY, INC. (MRVL, last-reported weight 0.19%), COINBASE GLOBAL INC (COIN, last-reported weight 0.16%), STRATEGY INC (MSTR, last-reported weight 0.15%).
Which existing positions saw the largest allocation reductions for FengHe Fund Management Pte. Ltd. in Q1 2026?
The largest portfolio-weight reductions in positions kept open were: CIENA CORP (CIEN, -3.91% weight, -86.50% shares), ALNYLAM PHARMACEUTICALS, INC. (ALNY, -3.41% weight, -85.14% shares), TAL ED GROUP (TAL, -0.24% weight, -79.74% shares), BROADCOM INC (AVGO, -3.09% weight, -79.46% shares), MACOM TECH SOLUTIONS HLDGS I (MTSI, -1.71% weight, -79.12% shares), CARPENTER TECHNOLOGY CORP (CRS, -0.70% weight, -78.49% shares), ALPHABET INC (GOOGL, -4.02% weight, -75.10% shares), LUMENTUM HLDGS INC (LITE, 1.14% weight, -72.53% shares), TAIWAN SEMICONDUCTOR MANUFAC (TSM, -0.21% weight, -64.80% shares), L3HARRIS TECHNOLOGIES INC (LHX, 0.39% weight, -62.34% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity.