QU
Qiming U.s. Ventures Management, LLC Historical SEC 13F Holdings & Archive (Q3 2025)
Qiming U.s. Ventures Management, LLCCIK: 0001909617
High-turnover traderConcentrated strategyQuality / disciplined sizing
Total reported value
$55.6M
Reporting period: 2025-09-30 · Number of holdings: 4
QIMING U.S. VENTURES MANAGEMENT, LLC disclosed 4 holdings in its latest 13F filing for the period ending 2025-09-30, with total reported value of $55.6M and a quarterly turnover rate of 96.6%.
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Personality snowflake
- Concentration
- 100
- Portfolio Stability
- 96.63
- Momentum
- 50
- Sector conviction
- 0
- Diversification
- 8
- Sizing Uniformity
- 88.26
Sector classification currently covers about 0% 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd TRML
0.0% $24.2M
Trim JSPR
0.0% -$1.8M
Add KRRO
0.0% $11.2M
Trim 2KZ0
0.0% -$81.2K
Sold out 43157M102
Sold out VTYXUSD
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | TRML | Tourmaline Bio Inc | Stock-Other | 63.76% | +14.93% | — | |
| 2 | KRRO | Korro Bio Inc | Stock-Other | 31.68% | +3.94% | — | |
| 3 | JSPR | Jasper Therapeutics Inc | Stock-Other | 3.97% | -13.32% | — | |
| 4 | 2KZ0 | Kezar Life Sciences Inc | Stock-Other | 0.58% | -1.17% | — |
Portfolio Performance
Performance for Q3 2026
—
Performance Last 4 Quarters
—
Based on 36% of reported portfolio value with available pricing
- Stdev
- +77.6%
- Beta
- -0.34
- Alpha
- -109.2%
- Max Drawdown
- -77.2%
- Annualized Perf
- -78.3%
- Batting Avg vs S&P
- +33.3%
- Sortino
- -1.61
- Stutzer
- -0.43
- Treynor
- +3.39
- Sterling
- -0.9
- Calmar
- -1.01
- Information Ratio
- -1.61
- Tracking Error
- +79.1%
- Stdev Down
- +70.4%
- Winning Months %
- +33.3%
- Losing Months %
- +66.7%
- Best 12 Months
- -78.3%
- Worst 12 Months
- -78.3%
- Efficiency Ratio
- +0.33
- Sharpe
- -1.47
- Stdev Sectors
- —
- Skewness
- +0.48
- Kurtosis
- -0.17
- Upside Potential
- +0.87
Reported value over time
Sector allocation
Not enough sector-mapped data yet
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2025 Q3 | 4 | $55.6M | 97 | ||
| 2025 Q2 | 6 | $23.6M | 0 | ||
| 2025 Q1 | 6 | $23.1M | 0 | ||
| 2024 Q4 | 6 | $51.1M | 0 | ||
| 2024 Q3 | 6 | $51.4M | 0 | ||
| 2024 Q2 | 6 | $52.6M | 0 | ||
| 2024 Q1 | 6 | $89.7M | 0 | ||
| 2023 Q4 | 8 | $109.2M | 0 | ||
| 2023 Q3 | 7 | $75.3M | 0 | ||
| 2023 Q2 | 7 | $95.2M | 0 | ||
| 2023 Q1 | 7 | $82.6M | 0 | ||
| 2022 Q4 | 7 | $75.6M | 0 | ||
| 2022 Q3 | 7 | $68.8M | 0 | ||
| 2022 Q2 | 7 | $72.0M | 0 | 145114M287410C3471871 | |
| 2022 Q1 | 6 | $106.4M | 0 | 187410C245114M3471871 | |
| 2021 Q4 | 6 | $217.3M | 0 | 145114M2471871387410C |
Holding changes this quarter
Qiming U.s. Ventures Management, LLC's most significant position changes for 2025-09-30: Sold out: Hillevax Inc; Sold out: Ventyx Biosciences Inc (VTYXUSD).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TRML | Tourmaline Bio Inc | +14.9% | — | Unchanged |
| 2 | KRRO | Korro Bio Inc | +3.9% | — | Unchanged |
| 3 | 2KZ0 | Kezar Life Sciences Inc | -1.2% | — | Unchanged |
| 4 | JSPR | Jasper Therapeutics Inc | -13.3% | — | Unchanged |
| 5 | ✓ | Hillevax Inc | — | EXIT | Sold out |
| 6 | VTYXUSD | Ventyx Biosciences Inc | — | EXIT | Sold out |
Filing History
FAQ
What is Qiming U.s. Ventures Management, LLC and what type of investor is it?
Qiming U.s. Ventures Management, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2025-09-30), the firm manages a tracked equity portfolio valued at approximately $55.6M, spread across 4 disclosed positions.
What are Qiming U.s. Ventures Management, LLC's largest equity positions?
Based on the latest 13F filing, Qiming U.s. Ventures Management, LLC's top holdings by market value are:
1. Tourmaline Bio Inc (TRML) — $35.5M (63.8%)
2. Korro Bio Inc (KRRO) — $17.6M (31.7%)
3. Jasper Therapeutics Inc (JSPR) — $2.2M (4.0%)
4. Kezar Life Sciences Inc (2KZ0) — $323.2K (0.6%)
What changes did Qiming U.s. Ventures Management, LLC make in its most recent portfolio filing?
In the latest quarter, Qiming U.s. Ventures Management, LLC took a more defensive posture — trimming 0 positions and completely exiting 2 holdings. The largest of these moves: Sold out: Hillevax Inc; Sold out: Ventyx Biosciences Inc (VTYXUSD)
What sectors does Qiming U.s. Ventures Management, LLC focus on?
Sector breakdown data is not yet available for Qiming U.s. Ventures Management, LLC. Check back after the next 13F processing cycle.
Investment Profile
Qiming U.s. Ventures Management, LLC's portfolio is concentrated and fast-trading.
Its turnover score has risen from 0 to 97 over the past 4 quarters — a shift toward more active trading.
It has added to its TRML position over the past two quarters (+$24.2M, now $35.5M), while trimming 2KZ0 over the same stretch (-$81.2K, still holding $323.2K).
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Developer Access
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