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Decheng Capital 13F Portfolio

Portfolio Manager
Decheng Capital LLC
Performance
+12.94% (2026 Q2)
AUM (13F)
$731.75M
# of Holdings
14
Performance Rank
Allocation (Top 20)
100.01%
Latest filing
Q2 2026

Decheng Capital LLC Holdings Map

Top 14 Decheng Capital LLC Holdings

Top 10 holdings

StockCompany% Port.SharesValueActivityOwnershipAvg. CostDate
CGON
CG ONCOLOGY INC
61.87%6.37M$452.7M
+0.00%(+0)
2025-Q2: 6.37M shares2025-Q3: 6.37M shares2025-Q4: 6.37M shares2026-Q1: 6.37M shares2026-Q2: 6.37M shares
$42.37(+79.08%)
2026-06-30
NUVB
Nuvation Bio Inc.
20.15%25.95M$147.4M
+0.00%(+0)
2025-Q2: 25.95M shares2025-Q3: 25.95M shares2025-Q4: 25.95M shares2026-Q1: 25.95M shares2026-Q2: 25.95M shares
$2.80(+124.29%)
2026-06-30
AARD
AARDVARK THERAPEUTICS INC
3.08%3.92M$22.6M
+0.00%(+0)
2025-Q2: 3.92M shares2025-Q3: 3.92M shares2025-Q4: 3.92M shares2026-Q1: 3.92M shares2026-Q2: 3.92M shares
$7.51(-14.65%)
2026-06-30
ACRS
Aclaris Therapeutics, Inc.
2.92%4.04M$21.4M
+0.00%(+0)
2025-Q2: 4.04M shares2025-Q3: 4.04M shares2025-Q4: 4.04M shares2026-Q1: 4.04M shares2026-Q2: 4.04M shares
$1.90(+208.67%)
2026-06-30
UPB
Upstream Bio Inc.
2.58%2.72M$18.9M
+0.00%(+0)
2025-Q2: 3.29M shares2025-Q3: 3.29M shares2025-Q4: 3.14M shares2026-Q1: 2.72M shares2026-Q2: 2.72M shares
$16.44(-57.85%)
2026-06-30
RCUS
Arcus Biosciences, Inc
1.96%464.8K$14.3M
-2.73%(-13.04K)
2025-Q2: 160.0K shares2025-Q3: 547.6K shares2025-Q4: 541.6K shares2026-Q1: 477.8K shares2026-Q2: 464.8K shares
$13.11(+120.19%)
2026-06-30
EQ
Equillium Inc.
1.94%4.45M$14.2M
+0.00%(+0)
2025-Q2: 4.45M shares2025-Q3: 4.45M shares2025-Q4: 4.45M shares2026-Q1: 4.45M shares2026-Q2: 4.45M shares
$0.73(+175.34%)
2026-06-30
RVMD
REVOLUTION MEDICINES INC(NSM)
1.35%52.7K$9.9M
-43.67%(-40.83K)
2025-Q2: 226.0K shares2025-Q3: 210.0K shares2025-Q4: 200.0K shares2026-Q1: 93.5K shares2026-Q2: 52.7K shares
$44.52(+353.70%)
2026-06-30
LYEL
Lyell Immunopharma, Inc.
1.33%692.0K$9.7M
+0.00%(+0)
2025-Q2: 595.5K shares2025-Q3: 595.5K shares2025-Q4: 692.0K shares2026-Q1: 692.0K shares2026-Q2: 692.0K shares
$20.66(-32.15%)
2026-06-30
BYSI
BeyondSpring Inc.
0.91%3.80M$6.7M
+0.00%(+0)
2025-Q2: 4.53M shares2025-Q3: 4.29M shares2025-Q4: 3.80M shares2026-Q1: 3.80M shares2026-Q2: 3.80M shares
$0.85(-0.45%)
2026-06-30

About Decheng Capital LLCโ€™s portfolio

Decheng Capital LLC reports $731.75M in US-listed equity holdings across 14 positions in its most recent 13F filing. Its largest disclosed positions are CGON (61.9%), NUVB (20.1%) and AARD (3.1%). The top 20 holdings account for 100.01% of reported assets. Its disclosed equity book has returned +23.94% cumulatively over 10 quarters. Figures reflect the Q2 2026 filing.

Portfolio concentration

Portfolio concentration
CGON โ€” 61.9% ($452.71M)NUVB โ€” 20.1% ($147.42M)AARD โ€” 3.1% ($22.56M)ACRS โ€” 2.9% ($21.38M)UPB โ€” 2.6% ($18.86M)RCUS โ€” 2.0% ($14.33M)EQ โ€” 1.9% ($14.23M)RVMD โ€” 1.3% ($9.86M)LYEL โ€” 1.3% ($9.72M)BYSI โ€” 0.9% ($6.65M)Other โ€” 1.9% ($14.02M)
98%in top 10
  • CGON61.9%
  • NUVB20.1%
  • AARD3.1%
  • ACRS2.9%
  • UPB2.6%
  • RCUS2.0%
  • EQ1.9%
  • RVMD1.3%
  • LYEL1.3%
  • BYSI0.9%
  • Other1.9%

Portfolio changes

What the fund actually did

Every reported change this quarter, grouped by direction. The signal is in the rotation, not any single trade.

New buys
1
TNGXTANGO THERAPEUTICS INC0.1%
Trimmed
3
RVMDREVOLUTION MEDICINES INC(NSM)-43.7%
NAMSNEWAMSTERDAM PHARMA CO NV-45.6%
RCUSArcus Biosciences, Inc-2.7%

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Source filings

Holdings on this page are parsed from Decheng Capital LLCโ€™s Form 13F filings with the U.S. Securities and Exchange Commission (CIK 2010850). View Decheng Capital LLCโ€™s 13F filings on SEC

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