Decheng Capital
MENLO PARK, CAfiles as Decheng Capital LLC
$732m in 14 US stocks at the end of 30 June 2026. The top 10 are 98.1% of the money. It changed about 6.3% of the portfolio this quarter.
Value
$732m
Stocks
14
Top 10 share
98.1%
Turnover
6.3%
What changed this quarter
New
Bought for the first time this quarter.
- Tango TherapeuticsTNGX<0.1% of the fund
Added
Bought more of a stock they already held.
None this quarter.
Cut
Sold some of their stake.
- Arcus BiosciencesRCUS2.0% of the fund-3%
- Revolution MedicinesRVMD1.3% of the fund-44%
- NewAmsterdam PharmaNAMS0.8% of the fund-46%
Sold out
Sold their entire stake.
- Krystal BiotechKRYS-100%
Holdings
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| CG OncologyCGON | 61.9% | $453m | 6,371,669 | Held |
| Nuvation BioNUVB | 20.1% | $147m | 25,954,439 | Held |
| Aardvark TherapeuticsAARD | 3.1% | $23m | 3,917,299 | Held |
| Aclaris TherapeuticsACRS | 2.9% | $21m | 4,041,736 | Held |
| Upstream BioUPB | 2.6% | $19m | 2,724,868 | Held |
| Arcus BiosciencesRCUS | 2.0% | $14m | 464,779 | -3% |
| EquilliumEQ | 1.9% | $14m | 4,447,308 | Held |
| Revolution MedicinesRVMD | 1.3% | $10m | 52,667 | -44% |
| Lyell ImmunopharmaLYEL | 1.3% | $10m | 692,050 | Held |
| BeyondSpringBYSI | 0.9% | $7m | 3,800,702 | Held |
| Zentalis PharmaceuticalsZNTL | 0.9% | $6m | 1,323,327 | Held |
| NewAmsterdam PharmaNAMS | 0.8% | $6m | 176,887 | -46% |
| Pyxis OncologyPYXS | 0.1% | $983,698 | 326,810 | Held |
| Tango TherapeuticsTNGX | <0.1% | $625,200 | 20,000 | New |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 84.8% since 30 June 2025.
Where the money is
Health care100.0%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.