Decheng Capital LLC
Decheng Capital LLC reported 14 US-listed holdings worth $731.7 million in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: CG Oncology Inc. (61.9%), Nuvation Bio Inc. (20.1%) and Aardvark Therapeutics Inc. (3.1%). Against the quarter before, it opened 1 position, added to 0, trimmed 3 and sold out of 1.
The 14 largest of its 14 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +57.7% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 1
- Tango Therapeutics Inc. TNGX$625,200
Trimmed 3
- Revolution Medicines, Inc. RVMD-40,833 shares · -44%
- Newamsterdam Pharma Company NAMS-148,170 shares · -46%
- Arcus Biosciences, Inc. RCUS-13,040 shares · -3%
Sold out of 1
- Krystal Biotech, Inc. KRYS$1.9 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| CG Oncology Inc. CGON | 6.4M | $452.7 million | 61.87% | no change |
| Nuvation Bio Inc. NUVB | 26.0M | $147.4 million | 20.15% | no change |
| Aardvark Therapeutics Inc. AARD | 3.9M | $22.6 million | 3.08% | no change |
| Aclaris Therapeutics Inc. ACRS | 4.0M | $21.4 million | 2.92% | no change |
| Upstream Bio Inc. UPB | 2.7M | $18.9 million | 2.58% | no change |
| Arcus Biosciences, Inc. RCUS | 464.8K | $14.3 million | 1.96% | -13.0K |
| Equillium Inc. EQ | 4.4M | $14.2 million | 1.94% | no change |
| Revolution Medicines, Inc. RVMD | 52.7K | $9.9 million | 1.35% | -40.8K |
| Lyell Immunopharma Inc. | 692.0K | $9.7 million | 1.33% | no change |
| Beyondspring Inc. BYSI | 3.8M | $6.7 million | 0.91% | no change |
| Zentalis Pharmaceuticals Inc. ZNTL | 1.3M | $6.4 million | 0.88% | no change |
| Newamsterdam Pharma Company NAMS | 176.9K | $6.0 million | 0.82% | -148.2K |
| Pyxis Oncology Inc. PYXS | 326.8K | $983,698 | 0.13% | no change |
| Tango Therapeutics Inc. TNGX | 20.0K | $625,200 | 0.09% | new |