Decheng Capital LLC 13F holdings, Q3 2025
Holdings as of September 30, 2025 · filings on SEC EDGAR · latest filing →
Decheng Capital LLC disclosed 23 US equity positions worth $573.2m in its Q3 2025 13F filing. The largest position was CGON at 44.8% of the reported book, followed by NUVB and UPB. Against the Q2 2025 filing, it opened 0 new positions, added to 1 and reduced 6 among the top 23 holdings.
What did Decheng Capital LLC own in Q3 2025? Top 23 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q2 2025 |
|---|---|---|---|---|---|---|---|
| 1 | CGON CG ONCOLOGY INC | Healthcare | 44.8% | $256.7m | 6,371,669 | 0% | held |
| 2 | NUVB Nuvation Bio Inc. | Healthcare | 16.8% | $96.0m | 25,954,439 | 0% | held |
| 3 | UPB Upstream Bio Inc. | 10.8% | $61.8m | 3,285,293 | 0% | held | |
| 4 | AARD AARDVARK THERAPEUTICS INC | 9.1% | $52.1m | 3,917,299 | 0% | held | |
| 5 | NEWAMSTERDAM PHARMA CO NV | 3.3% | $18.7m | 657,051 | -15% | reduced | |
| 6 | MERUS NV | 3.1% | $17.6m | 186,546 | -1% | reduced | |
| 7 | RVMD REVOLUTION MEDICINES INC(NSM) | Healthcare | 1.7% | $9.8m | 210,000 | -7% | reduced |
| 8 | LYEL Lyell Immunopharma, Inc. | 1.7% | $9.7m | 595,466 | 0% | held | |
| 9 | BYSI BeyondSpring Inc. | 1.4% | $7.8m | 4,286,104 | -5% | reduced | |
| 10 | ACRS Aclaris Therapeutics, Inc. | Healthcare | 1.3% | $7.7m | 4,041,736 | 0% | held |
| 11 | RCUS Arcus Biosciences, Inc | Healthcare | 1.3% | $7.4m | 547,609 | 242% | added |
| 12 | EQ Equillium Inc. | 1.1% | $6.4m | 4,447,308 | 0% | held | |
| 13 | CRNXGBP CRINETICS PHARMACEUTICALS IN | 1.0% | $6.0m | 143,000 | 0% | held | |
| 14 | KRYS KRYSTAL BIOTECH INC | Healthcare | 1.0% | $5.7m | 32,300 | -51% | reduced |
| 15 | AURA Aura Biosciences, Inc. | 0.6% | $3.2m | 515,555 | 0% | held | |
| 16 | ZNTL Zentalis Pharmaceuticals Inc. | Healthcare | 0.3% | $2.0m | 1,323,327 | 0% | held |
| 17 | MOONLAKE IMMUNOTHERAPEUTICS | 0.2% | $1.3m | 181,600 | 0% | held | |
| 18 | FDMT 4D MOLECULAR THERAPEUTICS IN | 0.1% | $806.0k | 92,748 | -61% | reduced | |
| 19 | ILMN Illumnia, Inc. | Healthcare | 0.1% | $757.8k | 7,979 | 0% | held |
| 20 | PYXS Pyxis Oncology, Inc (formerly Apexigen) | 0.1% | $725.5k | 326,810 | 0% | held | |
| 21 | GRAL GRAIL INC | 0.1% | $572.6k | 9,684 | 0% | held | |
| 22 | RZLT REZOLUTE INC | 0.1% | $563.1k | 59,900 | 0% | held | |
| 23 | Nuvation Bio Inc. | 0.0% | $115.5k | 646,057 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.