Decheng Capital LLC Diversified Active

Location: Menlo Park, CA

CIK: 0002010850 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 12, 2026

Total Value: $743M (100.0% shares, 0.0% debt)

Holdings (19)

CGON CG ONCOLOGY INC 35.6%

Value $265M Shares 6,371,669 Est. Cost $39.91 Unrealized +3.7%

NUVB Nuvation Bio Inc. 31.3%

Value $233M Shares 25,954,439 Est. Cost $3.05 Unrealized +103.1%

UPB Upstream Bio Inc. 11.5%

Value $85.33M Shares 3,143,078 Est. Cost $22.33 Unrealized +11.5%

AARD AARDVARK THERAPEUTICS INC 6.9%

Value $51.41M Shares 3,917,299 Est. Cost $11.23 Unrealized +11.1%

— Lyell Immunopharma, Inc. 2.9%

Value $21.3M Shares 692,050 Est. Cost $4.85 Unrealized —

NAMS NEWAMSTERDAM PHARMA CO NV 2.8%

Value $20.77M Shares 592,057 Est. Cost $19.66 Unrealized +85.1%

RVMD REVOLUTION MEDICINES INC(NSM) 2.1%

Value $15.93M Shares 200,000 Est. Cost $50.40 Unrealized +30.1%

RCUS Arcus Biosciences, Inc 1.7%

Value $12.91M Shares 541,559 Est. Cost $12.03 Unrealized +69.6%

ACRS Aclaris Therapeutics, Inc. 1.6%

Value $12.17M Shares 4,041,736 Est. Cost $2.33 Unrealized +8.3%

EQ Equillium Inc. 0.9%

Value $6.893M Shares 4,447,308 Est. Cost $0.59 Unrealized +104.9%

BYSI BeyondSpring Inc. 0.8%

Value $6.195M Shares 3,800,702 Est. Cost $0.92 Unrealized +109.3%

CRNX CRINETICS PHARMACEUTICALS IN 0.6%

Value $4.315M Shares 92,700 Est. Cost $39.97 Unrealized +11.4%

KRYS KRYSTAL BIOTECH INC 0.6%

Value $4.265M Shares 17,300 Est. Cost $122.01 Unrealized +72.5%

AURA Aura Biosciences, Inc. 0.3%

Value $1.965M Shares 360,483 Est. Cost $8.47 Unrealized -29.9%

ZNTL Zentalis Pharmaceuticals Inc. 0.2%

Value $1.786M Shares 1,323,327 Est. Cost $13.39 Unrealized -89.1%

PYXS Pyxis Oncology, Inc (formerly Apexigen) 0.1%

Value $376K Shares 326,810 Est. Cost $1.71 Unrealized +106.0%

FDMT 4D MOLECULAR THERAPEUTICS IN 0.0%

Value $332K Shares 44,311 Est. Cost $24.39 Unrealized -58.4%

— Nuvation Bio Inc. 0.0%

Value $213K Shares 646,057 Est. Cost $0.16 Unrealized —

RZLT REZOLUTE INC 0.0%

Value $141K Shares 59,900 Est. Cost $3.71 Unrealized +111.1%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CGON	CG ONCOLOGY INC	6,371,669	$265M	35.6%	$39.91	+3.7%	COM	156944100
NUVB	Nuvation Bio Inc.	25,954,439	$233M	31.3%	$3.05	+103.1%	COM	67080N101
UPB	Upstream Bio Inc.	3,143,078	$85.33M	11.5%	$22.33	+11.5%	COM	91678A107
AARD	AARDVARK THERAPEUTICS INC	3,917,299	$51.41M	6.9%	$11.23	+11.1%	COM	002942100
—	Lyell Immunopharma, Inc.	692,050	$21.3M	2.9%	$4.85	—	COM	55083R104
NAMS	NEWAMSTERDAM PHARMA CO NV	592,057	$20.77M	2.8%	$19.66	+85.1%	COM	N62509109
RVMD	REVOLUTION MEDICINES INC(NSM)	200,000	$15.93M	2.1%	$50.40	+30.1%	COM	76155X100
RCUS	Arcus Biosciences, Inc	541,559	$12.91M	1.7%	$12.03	+69.6%	COM	03969F109
ACRS	Aclaris Therapeutics, Inc.	4,041,736	$12.17M	1.6%	$2.33	+8.3%	COM	00461U105
EQ	Equillium Inc.	4,447,308	$6.893M	0.9%	$0.59	+104.9%	COM	29446K106
BYSI	BeyondSpring Inc.	3,800,702	$6.195M	0.8%	$0.92	+109.3%	SHS	G10830100
CRNX	CRINETICS PHARMACEUTICALS IN	92,700	$4.315M	0.6%	$39.97	+11.4%	COM	22663K107
KRYS	KRYSTAL BIOTECH INC	17,300	$4.265M	0.6%	$122.01	+72.5%	COM	501147102
AURA	Aura Biosciences, Inc.	360,483	$1.965M	0.3%	$8.47	-29.9%	COM	05153U107
ZNTL	Zentalis Pharmaceuticals Inc.	1,323,327	$1.786M	0.2%	$13.39	-89.1%	COM	98943L107
PYXS	Pyxis Oncology, Inc (formerly Apexigen)	326,810	$376K	0.1%	$1.71	+106.0%	COM	747324101
FDMT	4D MOLECULAR THERAPEUTICS IN	44,311	$332K	0.0%	$24.39	-58.4%	COM	35104E100
—	Nuvation Bio Inc.	646,057	$213K	0.0%	$0.16	—	WARRANTS	67080N119
RZLT	REZOLUTE INC	59,900	$141K	0.0%	$3.71	+111.1%	COM	76200L309