Decheng Capital LLC

Q3 2025 13F-HR Holdings

Location
Menlo Park, CA
Holdings as of
9/30/2025
Date filed
11/14/2025
Form type
13F-HR
Num holdings
23
Total value ($000)
$573,196
Net value change ($000)
+177,228 (44.8%)
New positions
0
Sold out positions
2
Turnover %
0.9%
Sector allocation + QoQ delta (equities-only)
Prev filing: 8/13/2025 Next filing: 2/12/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
CGON 90,988 54.9%
NUVB 45,420 89.7%
UPB 25,723 71.3%
Merus N.V. 7,616 76.6%
RCUS 6,636 818.2%
EQ 4,958 353.6%
NAMS 4,742 34.0%
LYEL 4,406 83.7%
ACRS 1,940 33.8%
CRNX 1,843 44.8%
Top Reduces (Value $000, Stocks/ETFs)
MLTX -7,270 -84.8%
ACLX -4,458 -100.0%
KRYS -3,370 -37.1%
BYSI -2,891 -27.1%
AARD -901 -1.7%
LEGN -710 -100.0%
FDMT -83 -9.3%
AURA -41 -1.3%
NUVB -12 -9.4%
ILMN -3 -0.4%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type