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Decheng Capital Portfolio holdings

AUM $732M
1-Year Est. Return 275.56%
This Fund
S&P 500
This Quarter Est. Return
+28.86%
1 Year Est. Return
+275.56%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$661M
AUM Growth
-$82.1M
Cap. Flow
-$38M
Cap. Flow %
-5.74%
Top 10 Hldgs %
98.23%
Holding
19
New
–
Increased
–
Reduced
5
Closed
5

Top Buys

No buys this quarter

Top Sells

Rank Stock Value
1
RVMD icon
Revolution Medicines
RVMD
+$10.8M
2
NAMS icon
NewAmsterdam Pharma
NAMS
+$8.7M
3
UPB
Upstream Bio Inc
UPB
+$7.52M
4
CRNX icon
Crinetics Pharmaceuticals
CRNX
+$4.32M
5
KRYS icon
Krystal Biotech
KRYS
+$2.66M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CGON icon
1
CG Oncology
CGON
$6.59B
$431M 65.21%
6,371,669
– –
NUVB icon
2
Nuvation Bio
NUVB
$2.34B
$111M 16.84%
25,954,439
– –
UPB
3
Upstream Bio Inc
UPB
$366M
$24.5M 3.71%
2,724,868
-418,210
-13% -$7.52M
ACRS icon
4
Aclaris Therapeutics
ACRS
$885M
$15.2M 2.29%
4,041,736
– –
AARD
5
Aardvark Therapeutics
AARD
$127M
$14.8M 2.23%
3,917,299
– –
LYEL icon
6
Lyell Immunopharma
LYEL
$356M
$13.9M 2.1%
692,050
– –
NAMS icon
7
NewAmsterdam Pharma
NAMS
$3.1B
$10.4M 1.57%
325,057
-267,000
-45% -$8.7M
RCUS icon
8
Arcus Biosciences
RCUS
$3.72B
$10.3M 1.56%
477,819
-63,740
-12% -$1.38M
RVMD icon
9
Revolution Medicines
RVMD
$44.6B
$9.09M 1.38%
93,500
-106,500
-53% -$10.8M
EQ icon
10
Equillium
EQ
$152M
$8.89M 1.35%
4,447,308
– –
BYSI icon
11
BeyondSpring
BYSI
$27.4M
$6.23M 0.94%
3,800,702
– –
ZNTL icon
12
Zentalis Pharmaceuticals
ZNTL
$360M
$3.1M 0.47%
1,323,327
– –
KRYS icon
13
Krystal Biotech
KRYS
$10.4B
$1.89M 0.29%
7,300
-10,000
-58% -$2.66M
PYXS icon
14
Pyxis Oncology
PYXS
$269M
$477K 0.07%
326,810
– –
AURA icon
15
Aura Biosciences
AURA
$767M
– –
-360,483
Closed -$1.96M
CRNX icon
16
Crinetics Pharmaceuticals
CRNX
$9B
– –
-92,700
Closed -$4.32M
FDMT icon
17
4D Molecular Therapeutics
FDMT
$810M
– –
-44,311
Closed -$332K
NUVB.WS
18
DELISTED
Nuvation Bio Inc Warrants
NUVB.WS
– –
-646,057
Closed -$213K
RZLT icon
19
Rezolute
RZLT
$445M
– –
-59,900
Closed -$141K

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Decheng Capital's Q1 2026 Portfolio in Review

As of Q1 2026, Decheng Capital held 19 positions worth $661M, down 11% from $743M the previous quarter. Its ten largest holdings account for 98% of the portfolio.

Decheng Capital withdrew a net $38M in Q1 2026, closing 5 positions and reducing 5 holdings. Its most notable exit was Crinetics Pharmaceuticals, an estimated $4.32M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 100% a quarter earlier.

  • Decheng Capital's biggest Q1 2026 reduction was Revolution Medicines, cutting an estimated $10.8M.
  • Decheng Capital fully exited Crinetics Pharmaceuticals in Q1 2026, selling an estimated $4.32M.
  • Decheng Capital's ten largest holdings make up 98% of its $661M portfolio in Q1 2026.
  • Decheng Capital opened 0 new positions and closed 5 in Q1 2026.
  • Decheng Capital's portfolio value fell 11% quarter-over-quarter to $661M.

Based on Decheng Capital's 13F filing for Q1 2026, filed 13 May 2026.