Decheng Capital LLC Diversified Active

Location: Menlo Park, CA

CIK: 0002010850 · Show all filings

Period: Q1 2026 (← Previous)

Filing Date: May 13, 2026

Total Value: $661M (100.0% shares, 0.0% debt)

Holdings (14)

Exited Positions (5)

CRNX CRINETICS PHARMACEUTICALS IN 0.7%

Value $4.315M Shares 92,700 Est. Cost $39.97 Unrealized +23.1%

AURA Aura Biosciences, Inc. 0.3%

Value $1.965M Shares 360,483 Est. Cost $8.47 Unrealized -35.8%

FDMT 4D MOLECULAR THERAPEUTICS IN 0.1%

Value $332K Shares 44,311 Est. Cost $24.39 Unrealized -64.9%

— 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 -17.6%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CRNX	CRINETICS PHARMACEUTICALS IN	92,700	$4.315M	0.7%	$39.97	+23.1%	—	22663K107
AURA	Aura Biosciences, Inc.	360,483	$1.965M	0.3%	$8.47	-35.8%	—	05153U107
FDMT	4D MOLECULAR THERAPEUTICS IN	44,311	$332K	0.1%	$24.39	-64.9%	—	35104E100
—	Nuvation Bio Inc.	646,057	$213K	0.0%	$0.16	—	—	67080N119
RZLT	REZOLUTE INC	59,900	$141K	0.0%	$3.71	-17.6%	—	76200L309

Decreased Positions (5)

UPB Upstream Bio Inc. 3.7%

Value $24.52M (-71.3%) Shares 2,724,868 (-13.3%) Est. Cost $22.33 Unrealized +6.1%

NAMS NEWAMSTERDAM PHARMA CO NV 1.6%

Value $10.41M (-49.9%) Shares 325,057 (-45.1%) Est. Cost $19.66 Unrealized +71.7%

RVMD REVOLUTION MEDICINES INC(NSM) 1.4%

Value $9.093M (-42.9%) Shares 93,500 (-53.3%) Est. Cost $50.40 Unrealized +104.4%

RCUS Arcus Biosciences, Inc 1.6%

Value $10.32M (-20.0%) Shares 477,819 (-11.8%) Est. Cost $12.03 Unrealized +76.8%

KRYS KRYSTAL BIOTECH INC 0.3%

Value $1.886M (-55.8%) Shares 7,300 (-57.8%) Est. Cost $122.01 Unrealized +123.3%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
UPB	Upstream Bio Inc.	2,724,868 (-13.3%)	$24.52M (-71.3%)	3.7%	$22.33	+6.1%	COM	91678A107
NAMS	NEWAMSTERDAM PHARMA CO NV	325,057 (-45.1%)	$10.41M (-49.9%)	1.6%	$19.66	+71.7%	COM	N62509109
RVMD	REVOLUTION MEDICINES INC(NSM)	93,500 (-53.3%)	$9.093M (-42.9%)	1.4%	$50.40	+104.4%	COM	76155X100
RCUS	Arcus Biosciences, Inc	477,819 (-11.8%)	$10.32M (-20.0%)	1.6%	$12.03	+76.8%	COM	03969F109
KRYS	KRYSTAL BIOTECH INC	7,300 (-57.8%)	$1.886M (-55.8%)	0.3%	$122.01	+123.3%	COM	501147102

Unchanged Positions (9)

CGON CG ONCOLOGY INC 65.2%

Value $431M Shares 6,371,669 Est. Cost $39.91 Unrealized +31.4%

NUVB Nuvation Bio Inc. 16.8%

Value $111M Shares 25,954,439 Est. Cost $3.05 Unrealized +102.8%

AARD AARDVARK THERAPEUTICS INC 2.2%

Value $14.77M Shares 3,917,299 Est. Cost $11.23 Unrealized +20.8%

— Lyell Immunopharma, Inc. 2.1%

Value $13.88M Shares 692,050 Est. Cost $4.85 Unrealized —

ACRS Aclaris Therapeutics, Inc. 2.3%

Value $15.16M Shares 4,041,736 Est. Cost $2.33 Unrealized +42.9%

EQ Equillium Inc. 1.3%

Value $8.895M Shares 4,447,308 Est. Cost $0.59 Unrealized +141.4%

ZNTL Zentalis Pharmaceuticals Inc. 0.5%

Value $3.097M Shares 1,323,327 Est. Cost $13.39 Unrealized -80.5%

PYXS Pyxis Oncology, Inc (formerly Apexigen) 0.1%

Value $477K Shares 326,810 Est. Cost $1.71 Unrealized -10.6%

BYSI BeyondSpring Inc. 0.9%

Value $6.233M Shares 3,800,702 Est. Cost $0.92 Unrealized +65.4%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
CGON	CG ONCOLOGY INC	6,371,669	$431M	65.2%	$39.91	+31.4%	COM	156944100
NUVB	Nuvation Bio Inc.	25,954,439	$111M	16.8%	$3.05	+102.8%	COM	67080N101
AARD	AARDVARK THERAPEUTICS INC	3,917,299	$14.77M	2.2%	$11.23	+20.8%	COM	002942100
—	Lyell Immunopharma, Inc.	692,050	$13.88M	2.1%	$4.85	—	COM	55083R104
ACRS	Aclaris Therapeutics, Inc.	4,041,736	$15.16M	2.3%	$2.33	+42.9%	COM	00461U105
EQ	Equillium Inc.	4,447,308	$8.895M	1.3%	$0.59	+141.4%	COM	29446K106
ZNTL	Zentalis Pharmaceuticals Inc.	1,323,327	$3.097M	0.5%	$13.39	-80.5%	COM	98943L107
PYXS	Pyxis Oncology, Inc (formerly Apexigen)	326,810	$477K	0.1%	$1.71	-10.6%	COM	747324101
BYSI	BeyondSpring Inc.	3,800,702	$6.233M	0.9%	$0.92	+65.4%	SHS	G10830100