Managers / Q4 2024 · view latest →
Qiming U.S. Ventures Management, LLC
CIK 0001909617 · 11100 NE 8TH ST., SUITE 200, BELLEVUE, WA, 98004 · (425) 709-0772
Summary
Qiming U.S. Ventures Management, LLC reported $51M in U.S.-listed holdings across 6 positions for Q4 2024.
The portfolio is heavily concentrated: JSPR alone accounts for 38.8% of reported value.
Compared with Q3 2024, the fund opened 1 new position 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, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. 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 · 98.5% · $50M
- Other · 1.5% · $771,313
Quarter-over-Quarter Changes full breakdown →
vs Q3 2024 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| KEZAR LIFE SCIENCES INC | NEW | +82.9K | 82.9K | +$556,893 | $556,893 |
| KEZAR LIFE SCIENCES INC | SOLD OUT | −828.7K | 0 | −$638,107 | $0 |
| HILLEVAX INC | TRIMMED | −186.3K | 372.6K | −$212,391 | $771,313 |
| TRMLTOURMALINE BIO INC | HELD | +0 | 741.7K | −$4M | $15M |
| JSPRJASPER THERAPEUTICS INC | HELD | +0 | 929.0K | +$2M | $20M |
| KRROKORRO BIO INC | HELD | +0 | 368.1K | +$2M | $14M |
| VENTYX BIOSCIENCES INC | HELD | +0 | 412.2K | +$4,122 | $902,773 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q4 2024
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | JSPRJASPER THERAPEUTICS INChistory → | COM NEW | 38.83% | $20M | 929.0K |
| 2 | TRMLTOURMALINE BIO INChistory → | COM | 29.41% | $15M | 741.7K |
| 3 | KRROKORRO BIO INChistory → | COM | 27.40% | $14M | 368.1K |
| 4 | VENTYX BIOSCIENCES INC | COM | 1.77% | $902,773 | 412.2K |
| 5 | HILLEVAX INC | COM | 1.51% | $771,313 | 372.6K |
| 6 | KEZAR LIFE SCIENCES INC | COM NEW | 1.09% | $556,893 | 82.9K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q3 2025 | $56M | 4 | Nov 10, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $24M | 6 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $23M | 6 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $51M | 6 | Jan 28, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $51M | 6 | Nov 7, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $53M | 6 | Aug 13, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $90M | 6 | May 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $109M | 8 | Feb 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $75M | 7 | Nov 9, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $95M | 7 | Jul 24, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $83M | 7 | Apr 25, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $76M | 7 | Jan 24, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $69M | 7 | Nov 8, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $72M | 7 | Jul 22, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $106M | 6 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $217M | 6 | Feb 14, 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 ↗.