DOSSIER · 13F-HR · Q1 2026

Decheng Capital LLC

$661M in tracked AUM across 14 positions as of Q1 2026.

DC
CIK 0002010850 · last filed Mar 31, 2026
Total AUM
$661M
as of Q1 2026
Holdings
14
positions
Whale Score
73
73
strong
Activity
no data
changes this Q
AI Analysis · Q1 2026

Portfolio Overview

Decheng Capital LLC’s 13F filing for the period ending September 30, 2025, reveals a concentrated portfolio focused on the biotechnology and healthcare sectors. The firm manages a total portfolio value of approximately $255.92 million across 16 holdings. This represents a significant reduction in capital deployment, with the total portfolio value decreasing by 35.4% from the previous quarter's $395.97 million.

The portfolio is characterized by high conviction, with the t...

Key Holdings

The portfolio is heavily dominated by mid-to-large cap biotechnology positions, with a distinct skew toward clinical-stage companies.

Quarter at a glance — Q1 2026

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q1 2026.

#HoldingValueSharesWeight
01
CGON
CG ONCOLOGY INC
$431M6.4M65.2%
02
NUVB
Nuvation Bio Inc.
$111M26.0M16.8%
03
UPB
Upstream Bio Inc.
$25M2.7M3.7%
04
ACRS
Aclaris Therapeutics, Inc.
$15M4.0M2.3%
05
AARD
AARDVARK THERAPEUTICS INC
$15M3.9M2.2%
06
55083R104
Lyell Immunopharma, Inc.
$14M692K2.1%
07
N62509109
NEWAMSTERDAM PHARMA CO NV
$10M325K1.6%
08
RCUS
Arcus Biosciences, Inc
$10M478K1.6%
09
RVMD
REVOLUTION MEDICINES INC(NSM)
$9M94K1.4%
10
EQ
Equillium Inc.
$9M4.4M1.3%

Filing history

2026Q1Mar 31
$661M 11.0%
14 positionsView →
2025Q4Dec 31
$743M 190.5%
19 positionsView →
2025Q3Sep 30
$256M 35.4%
16 positionsView →
2025Q2Jun 30
$396M 152.7%
25 positionsLocked
2025Q1Mar 31
$157M 66.4%
20 positionsLocked
2024Q4Dec 31
$466M 10.4%
28 positionsLocked
2024Q3Sep 30
$422M 29.4%
26 positionsLocked
2024Q2Jun 30
$326M 56.2%
24 positionsLocked
2024Q1Mar 31
$746M 108.3%
22 positionsLocked
2023Q4Dec 31
$358M
24 positionsLocked