Decheng Capital LLC 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Decheng Capital LLC disclosed 19 US equity positions worth $743.4m in its Q4 2025 13F filing. The largest position was CGON at 35.6% of the reported book, followed by NUVB and UPB. Against the Q3 2025 filing, it opened 0 new positions, added to 1 and reduced 9 among the top 19 holdings.
What did Decheng Capital LLC own in Q4 2025? Top 19 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q3 2025 |
|---|---|---|---|---|---|---|---|
| 1 | CGON CG ONCOLOGY INC | Healthcare | 35.6% | $264.6m | 6,371,669 | 0% | held |
| 2 | NUVB Nuvation Bio Inc. | Healthcare | 31.3% | $232.6m | 25,954,439 | 0% | held |
| 3 | UPB Upstream Bio Inc. | 11.5% | $85.3m | 3,143,078 | -4% | reduced | |
| 4 | AARD AARDVARK THERAPEUTICS INC | 6.9% | $51.4m | 3,917,299 | 0% | held | |
| 5 | LYEL Lyell Immunopharma, Inc. | 2.9% | $21.3m | 692,050 | 16% | added | |
| 6 | NEWAMSTERDAM PHARMA CO NV | 2.8% | $20.8m | 592,057 | -10% | reduced | |
| 7 | RVMD REVOLUTION MEDICINES INC(NSM) | Healthcare | 2.1% | $15.9m | 200,000 | -5% | reduced |
| 8 | RCUS Arcus Biosciences, Inc | Healthcare | 1.7% | $12.9m | 541,559 | -1% | reduced |
| 9 | ACRS Aclaris Therapeutics, Inc. | Healthcare | 1.6% | $12.2m | 4,041,736 | 0% | held |
| 10 | EQ Equillium Inc. | 0.9% | $6.9m | 4,447,308 | 0% | held | |
| 11 | BYSI BeyondSpring Inc. | 0.8% | $6.2m | 3,800,702 | -11% | reduced | |
| 12 | CRNXGBP CRINETICS PHARMACEUTICALS IN | 0.6% | $4.3m | 92,700 | -35% | reduced | |
| 13 | KRYS KRYSTAL BIOTECH INC | Healthcare | 0.6% | $4.3m | 17,300 | -46% | reduced |
| 14 | AURA Aura Biosciences, Inc. | 0.3% | $2.0m | 360,483 | -30% | reduced | |
| 15 | ZNTL Zentalis Pharmaceuticals Inc. | Healthcare | 0.2% | $1.8m | 1,323,327 | 0% | held |
| 16 | PYXS Pyxis Oncology, Inc (formerly Apexigen) | 0.1% | $375.8k | 326,810 | 0% | held | |
| 17 | FDMT 4D MOLECULAR THERAPEUTICS IN | 0.0% | $332.3k | 44,311 | -52% | reduced | |
| 18 | Nuvation Bio Inc. | 0.0% | $213.2k | 646,057 | 0% | held | |
| 19 | RZLT REZOLUTE INC | 0.0% | $141.4k | 59,900 | 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.