CIK: 0002010850
Total reported value
$661.3M
Reporting period: 2026-03-31 · Number of holdings: 14
Decheng Capital LLC disclosed 14 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $661.3M and a quarterly turnover rate of 61.0%.
Browse other institutions with $100M to $1B AUMBrowse other institutions starting with "D"
Decheng Capital LLC's disclosed holdings carry a Herfindahl concentration index of 0.457 — mathematically equivalent to about 2 equally-sized positions, well below its 14 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.41), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 2% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add CGON
0.0% $166.7M
Trim NUVB
0.0% -$121.2M
Trim UPB
-13.3% -$60.8M
Trim AARD
0.0% -$36.6M
Trim NAMS
-45.1% -$10.4M
Trim LYEL
0.0% -$7.4M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | CGON | Cg Oncology INC | Stock-Other | 65.21% | +29.62% | — | |
| 2 | NUVB | Nuvation Bio INC | Stock-Other | 16.84% | -14.44% | — | |
| 3 | UPB | Upstream Bio INC | Stock-Other | 3.71% | -7.77% | -13.31% | |
| 4 | ACRS | Aclaris Therapeutics INC | Stock-Other | 2.29% | +0.65% | — | |
| 5 | AARD | Aardvark Therapeutics INC | Stock-Other | 2.23% | -4.69% | — | |
| 6 | LYEL | Lyell Immunopharma, Inc. | Stock-Other | 2.10% | -0.77% | — | |
| 7 | NAMS | NewAmsterdam Pharma Company N.V. | Stock-Other | 1.57% | -1.22% | -45.10% | |
| 8 | RCUS | Arcus Biosciences INC | Stock-Other | 1.56% | -0.18% | -11.77% | |
| 9 | RVMD | Revolution Medicines INC | Stock-Healthcare | 1.37% | -0.76% | -53.25% | |
| 10 | EQ | Equillium INC | Stock-Other | 1.34% | +0.41% | — | |
| 11 | ✓ | Beyondspring INC Shs | Stock-Other | 0.94% | +0.11% | — | |
| 12 | ZNTL | Zentalis Pharmaceuticals INC | Stock-Other | 0.47% | +0.23% | — | |
| 13 | KRYS | Krystal Biotech INC | Stock-Healthcare | 0.29% | -0.28% | -57.80% | |
| 14 | PYXS | Pyxis Oncology INC | Stock-Other | 0.07% | +0.02% | — |
Performance for Q3 2026
+13.4%
Performance Last 4 Quarters
+123.7%
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 14 | $661.3M | 61 | |
| 2025-12-31 | 19 | $743.4M | 34 | |
| 2025-09-30 | 23 | $573.2M | 55 | |
| 2025-06-30 | 25 | $396.0M | 0 | |
| 2025-03-31 | 27 | $356.5M | 0 | |
| 2024-12-31 | 28 | $466.2M | 0 | |
| 2024-09-30 | 26 | $422.2M | 0 | |
| 2024-06-30 | 24 | $326.3M | 0 | |
| 2024-03-31 | 22 | $745.6M | 0 | |
| 2023-12-31 | 24 | $357.9M | 0 |
Decheng Capital LLC's most significant position changes for 2026-03-31: Sold out: Crinetics Pharmaceuticals In (CRNX); Sold out: Aura Biosciences INC (AURA); Sold out: 4d Molecular Therapeutics In (FDMT); Sold out: Nuvation Bio INC -cw27 (NUVB-WS); Sold out: Rezolute INC (RZLT).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CGON | Cg Oncology INC | +29.6% | — | Unchanged |
| 2 | ACRS | Aclaris Therapeutics INC | +0.7% | — | Unchanged |
| 3 | EQ | Equillium INC | +0.4% | — | Unchanged |
| 4 | ZNTL | Zentalis Pharmaceuticals INC | +0.2% | — | Unchanged |
| 5 | ✓ | Beyondspring INC Shs | +0.1% | — | Unchanged |
| 6 | PYXS | Pyxis Oncology INC | 0% | — | Unchanged |
| 7 | RCUS | Arcus Biosciences INC | -0.2% | -11.77% | Trim |
| 8 | KRYS | Krystal Biotech INC | -0.3% | -57.80% | Trim |
| 9 | RVMD | Revolution Medicines INC | -0.8% | -53.25% | Trim |
| 10 | LYEL | Lyell Immunopharma, Inc. | -0.8% | — | Unchanged |
| 11 | NAMS | NewAmsterdam Pharma Company N.V. | -1.2% | -45.10% | Trim |
| 12 | AARD | Aardvark Therapeutics INC | -4.7% | — | Unchanged |
| 13 | UPB | Upstream Bio INC | -7.8% | -13.31% | Trim |
| 14 | NUVB | Nuvation Bio INC | -14.4% | — | Unchanged |
| 15 | CRNX | Crinetics Pharmaceuticals In | — | EXIT | Sold out |
| 16 | AURA | Aura Biosciences INC | — | EXIT | Sold out |
| 17 | FDMT | 4d Molecular Therapeutics In | — | EXIT | Sold out |
| 18 | NUVB-WS | Nuvation Bio INC -cw27 | — | EXIT | Sold out |
| 19 | RZLT | Rezolute INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-13 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-12 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-13 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-08 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-15 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-14 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-12 | 13F-HR | View on EDGAR |
Institutions with a similar AUM
CIK 0001833780
Total reported value
$661.3M
204 stks
2025-09-30
Stale — no recent filing
AUM within 0.0% of this institution
CIK 0001938757
Total reported value
$661.5M
137 stks
2026-03-31
AUM within 0.0% of this institution
CIK 0002055816
Total reported value
$661.5M
170 stks
2026-06-30
AUM within 0.0% of this institution
Institutions with overlapping top holdings
CIK 0001559565
Total reported value
$183.2M
8 stks
2017-12-31
Stale — no recent filing
1 of the top 5 holdings overlap, including Aclaris Therapeutics INC
CIK 0001616824
Total reported value
$155.8M
16 stks
2026-03-31
1 of the top 5 holdings overlap, including Aclaris Therapeutics INC
CIK 0001637359
Total reported value
$163.1M
10 stks
2026-03-31
1 of the top 5 holdings overlap, including Nuvation Bio INC