Q2 2026 13F · SEC CIK 2010850
Decheng Capital LLC
Hedge fundFiled 2026-08-14 for Q2 2026. Open the filing ↗ · All SEC filings ↗
- Reported 13F value
- $731.7M
- Reported positions
- 14
- Top holdings a year, 3 yrs
- +39.1%
- Assets under management
- $2.7B
Decheng Capital LLC is a hedge fund that reported 14 positions worth $731.7M in its Q2 2026 13F, filed 2026-08-14. Its largest holdings were Cg Oncology Inc (CGON, 61.9%), Nuvation Bio Inc (NUVB, 20.1%), Aardvark Therapeutics Inc (AARD, 3.1%). A portfolio copying its top holdings returned 39.1% a year over the last 3 years, against 18.8% for the S&P 500.
Decheng Capital LLC holdings all 14 positions.
Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.
| Stock | % of 13F value | Share change | Reported value |
|---|---|---|---|
| CGONCg Oncology Inc | 61.9% | +0.0% | $452.7M |
| NUVBNuvation Bio Inc | 20.1% | +0.0% | $147.4M |
| AARDAardvark Therapeutics Inc | 3.1% | +0.0% | $22.6M |
| ACRSAclaris Therapeutics Inc | 2.9% | +0.0% | $21.4M |
| UPBUpstream Bio Inc | 2.6% | +0.0% | $18.9M |
| RCUSArcus Biosciences Inc. | 2.0% | -2.7% | $14.3M |
| EQEquillium Inc | 1.9% | +0.0% | $14.2M |
| RVMDRevolution Medicines Inc | 1.3% | -43.7% | $9.9M |
| LYELLyell Immunopharma, Inc. | 1.3% | +0.0% | $9.7M |
| BYSIBeyondSpring Inc. | 0.9% | +0.0% | $6.7M |
| ZNTLZentalis Pharmaceuticals Inc | 0.9% | +0.0% | $6.4M |
| NAMSNewamsterdam Pharma Company Ordinary | 0.8% | -45.6% | $6.0M |
| PYXSPyxis Oncology Inc | 0.1% | +0.0% | $984K |
| TNGXTango Therapeutics Inc | 0.1% | — | $625K |
What Decheng Capital LLC bought and sold in Q2 2026, against Q1 2026.
New positions
- TNGX Tango Therapeutics Inc0.1% of 13F
Added to
No position grew by more than 5%.
Reduced
- NAMS Newamsterdam Pharma Company Ordinary-45.6% shares
- RVMD Revolution Medicines Inc-43.7% shares
Sold out
- KRYS Krystal Biotech Incwas 0.3%
Share counts compared with the Q1 2026 13F; a split also changes share counts.
How the holdings did against the S&P 500.
- 1 year
- +94.3% /yr
- S&P 500 +20.1%
- 3 years
- +39.1% /yr
- S&P 500 +18.8%
- 5 years
- —
A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.
Reported 13F value by quarter.
| Quarter | 13F value | Positions |
|---|---|---|
| Q2 2026 | $731.7M | 14 |
| Q1 2026 | $661.3M | 14 |
| Q4 2025 | $743.4M | 19 |
| Q3 2025 | $573.2M | 23 |
| Q2 2025 | $396.0M | 25 |
| Q1 2025 | $356.5M | 27 |
| Q4 2024 | $466.2M | 28 |
| Q3 2024 | $422.2M | 26 |
| Q2 2024 | $326.3M | 24 |
| Q1 2024 | $745.6M | 22 |
| Q4 2023 | $357.9M | 24 |
Questions about Decheng Capital LLC's portfolio
What stocks does Decheng Capital LLC own?
Decheng Capital LLC's latest 13F, for Q2 2026 and filed Aug 14, 2026, lists 14 positions worth $731.7M. The largest are Cg Oncology Inc (CGON) at 61.9%, Nuvation Bio Inc (NUVB) at 20.1%, Aardvark Therapeutics Inc (AARD) at 3.1%, Aclaris Therapeutics Inc (ACRS) at 2.9% and Upstream Bio Inc (UPB) at 2.6%.
What did Decheng Capital LLC buy last quarter?
In Q2 2026, Decheng Capital LLC added a new position in Tango Therapeutics Inc (TNGX), compared with its Q1 2026 filing.
What did Decheng Capital LLC sell last quarter?
In Q2 2026, Decheng Capital LLC sold all of Krystal Biotech Inc (KRYS), Newamsterdam Pharma Company Ordinary (NAMS) (-45.6% shares) and Revolution Medicines Inc (RVMD) (-43.7% shares), compared with its Q1 2026 filing.
How has Decheng Capital LLC's portfolio performed?
A portfolio copying Decheng Capital LLC's 20 largest 13F holdings each quarter, from the day each filing was public, returned +39.1% a year over the last 3 years, against +18.8% for the S&P 500. Over 1 year: +94.3% against +20.1%.
When is Decheng Capital LLC's next 13F filing due?
13F filings are due 45 days after each quarter ends. Decheng Capital LLC's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.
How much money does Decheng Capital LLC manage?
Decheng Capital LLC reported $2.7B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $731.7M.