Managers / Q4 2023
Decheng Capital Management III (Cayman), LLC
CIK 0001747821 · PO BOX 309, UGLAND HOUSE, GRAND CAYMAN, E9, KY1-1104 · 345-949-8066
Summary
Decheng Capital Management III (Cayman), LLC reported $300M in U.S.-listed holdings across 26 positions for Q4 2023.
The portfolio is heavily concentrated: NVLSEUR alone accounts for 25.6% of reported value.
Compared with Q3 2023, the fund opened 0 new positions and exited 1.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 74.9% · $224M
- Other · 25.1% · $75M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2023 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| NBPEverest Medicines Limited | SOLD OUT | −4.17M | 0 | −$13M | $0 |
| ACELYRIN INC(NSM) | HELD | +0 | 1.55M | +$0 | $16M |
| NVLSEURAlpine Immune Sciences, Inc. | HELD | +0 | 6.71M | +$0 | $77M |
| ROIVANT SCIENCES LTD | HELD | +0 | 1.46M | +$0 | $17M |
| WHWKAadi Bioscience, Inc. | HELD | +0 | 526.3K | +$0 | $3M |
| ILMNIllumnia, Inc. | HELD | +0 | 80.9K | +$0 | $11M |
| 430Terns Pharmaceuticals, Inc. | HELD | +0 | 714.3K | +$0 | $4M |
| PYXSPyxis Oncology, Inc (formerly Apexigen) | HELD | +0 | 326.8K | +$0 | $650,352 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2023
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q4 2023 | $300M | 26 | Dec 12, 2023 | RESTATEMENT | changes · EDGAR ↗ |
| Q3 2023 | $313M | 27 | Nov 29, 2023 | RESTATEMENT | changes · EDGAR ↗ |
| Q2 2023 | $319M | 25 | Jul 28, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $248M | 24 | May 10, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $267M | 26 | Feb 9, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $276M | 26 | Nov 8, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $264M | 25 | Aug 1, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $326M | 24 | May 10, 2022 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.