Decheng Capital LLC — 13F Holdings & Portfolio
CIK 2010850 · latest 13F-HR filed 2026-05-13
Decheng Capital LLC manages $661.3M in 13F-reported U.S. long-equity assets across 14 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are CGON (65.21%), NUVB (16.84%), UPB (3.71%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 0 new positions, exited 5, added to 5, and trimmed 8.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$661.3M
Long-equity book
14
Distinct positions
2026-03-31
Filed 2026-05-13
+0 / −5 / ↑5 / ↓8
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- CG ONCOLOGY INC$166.7M +63.0%
- Aclaris Therapeutics, Inc.$3.0M +24.6%
- Equillium Inc.$2.0M +29.0%
- Zentalis Pharmaceuticals Inc.$1.3M +73.3%
- Pyxis Oncology, Inc (formerly Apexigen)$101.3K +27.0%
Top Trims
- Nuvation Bio Inc.-$121.2M -52.1%
- Upstream Bio Inc.-$60.8M -71.3%
- AARDVARK THERAPEUTICS INC-$36.6M -71.3%
- NEWAMSTERDAM PHARMA CO NV-$10.4M -49.9%
- Lyell Immunopharma, Inc.-$7.4M -34.8%
Exited Positions
- CRINETICS PHARMACEUTICALS IN$4.3M
- Aura Biosciences, Inc.$2.0M
- 4D MOLECULAR THERAPEUTICS IN$332.3K
- Nuvation Bio Inc.$213.2K
- REZOLUTE INC$141.4K
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | CG ONCOLOGY INC | CGON | 156944100 | $431.2M | 65.21% | 6,371,669 | SH |
| 2 | Nuvation Bio Inc. | NUVB | 67080N101 | $111.3M | 16.84% | 25,954,439 | SH |
| 3 | Upstream Bio Inc. | UPB | 91678A107 | $24.5M | 3.71% | 2,724,868 | SH |
| 4 | Aclaris Therapeutics, Inc. | ACRS | 00461U105 | $15.2M | 2.29% | 4,041,736 | SH |
| 5 | AARDVARK THERAPEUTICS INC | AARD | 002942100 | $14.8M | 2.23% | 3,917,299 | SH |
| 6 | Lyell Immunopharma, Inc. | LYEL | 55083R104 | $13.9M | 2.10% | 692,050 | SH |
| 7 | NEWAMSTERDAM PHARMA CO NV | NAMS | N62509109 | $10.4M | 1.57% | 325,057 | SH |
| 8 | Arcus Biosciences, Inc | RCUS | 03969F109 | $10.3M | 1.56% | 477,819 | SH |
| 9 | REVOLUTION MEDICINES INC(NSM) | RVMD | 76155X100 | $9.1M | 1.37% | 93,500 | SH |
| 10 | Equillium Inc. | EQ | 29446K106 | $8.9M | 1.34% | 4,447,308 | SH |
| 11 | BeyondSpring Inc. | BYSI | G10830100 | $6.2M | 0.94% | 3,800,702 | SH |
| 12 | Zentalis Pharmaceuticals Inc. | ZNTL | 98943L107 | $3.1M | 0.47% | 1,323,327 | SH |
| 13 | KRYSTAL BIOTECH INC | KRYS | 501147102 | $1.9M | 0.29% | 7,300 | SH |
| 14 | Pyxis Oncology, Inc (formerly Apexigen) | PYXS | 747324101 | $477.1K | 0.07% | 326,810 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-13 | $661.3M | 14 | 0001104659-26-060145 |
| 2025-12-31 | 2026-02-12 | $743.4M | 19 | 0001104659-26-014146 |
| 2025-09-30 | 2025-11-14 | $573.2M | 23 | 0001104659-25-112117 |