Managers / Q4 2022 · view latest →
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 $267M in U.S.-listed holdings across 26 positions for Q4 2022.
Its largest position, Alpine Immune Sciences, represents 18.5% of the portfolio.
Compared with Q3 2022, the fund opened 2 new positions and exited 2.
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 · 48.5% · $130M
- Other · 33.1% · $88M
- PUBLIC · 18.5% · $49M
Quarter-over-Quarter Changes full breakdown →
vs Q3 2022 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| Alpine Immune Sciences, Inc. | NEW | +6.71M | 6.71M | +$49M | $49M |
| BeyondSpring Inc. | NEW | +4.96M | 4.96M | +$9M | $9M |
| NVLSEURAlpine Immune Sciences, Inc. | SOLD OUT | −6.71M | 0 | −$48M | $0 |
| BeyondSpring Inc. | SOLD OUT | −4.96M | 0 | −$5M | $0 |
| AURAAura Biosciences, Inc. | ADDED | +83.3K | 293.3K | −$725,003 | $3M |
| ILMNIllumnia, Inc. | TRIMMED | −49.3K | 80.9K | −$8M | $16M |
| Prometheus Biosciences, Inc. | HELD | +0 | 250.0K | +$13M | $28M |
| HLTHQCue Health Inc. | HELD | +0 | 8.98M | −$8M | $19M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2022
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 ↗.