Decheng Capital 13F annual report
Decheng Capital is an investment fund managing more than $326 billion ran by Bobby Bao. There are currently 23 companies in Mr. Bao’s portfolio. The largest investments include Cg Oncology Inc and Nuvation Bio Inc., together worth $193 billion.
$326 billion Assets Under Management (AUM)
As of 7th August 2024, Decheng Capital’s top holding is 5,458,810 shares of Cg Oncology Inc currently worth over $172 billion and making up 52.8% of the portfolio value.
In addition, the fund holds 7,596,296 shares of Nuvation Bio Inc. worth $20.4 billion.
The third-largest holding is Arcus Biosciences Inc worth $13.2 billion and the next is Zentalis Pharmaceuticals, Llc worth $12.6 billion, with 3,070,442 shares owned.
Currently, Decheng Capital's portfolio is worth at least $326 billion. The total portfolio value may be much higher due to cash
assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.
Careers at Decheng Capital
The Decheng Capital office and employees reside in Menlo Park, California. According to the last 13-F report filed with the SEC, Bobby Bao serves as the Chief Compliance Officer at Decheng Capital.
Recent trades
In the most recent 13F filing, Decheng Capital revealed that it had opened a new position in
Cg Oncology Inc and bought 5,458,810 shares worth $172 billion.
The investment fund also strengthened its position in Zentalis Pharmaceuticals, Llc by buying
970,859 additional shares.
This makes their stake in Zentalis Pharmaceuticals, Llc total 3,070,442 shares worth $12.6 billion.
Zentalis Pharmaceuticals, Llc dropped 87.9% in the past year.
On the other hand, there are companies that Decheng Capital is getting rid of from its portfolio.
Decheng Capital closed its position in Alpine Immune Sciences Inc on 14th August 2024.
It sold the previously owned 7,083,288 shares for $135 billion.
Bobby Bao also disclosed a decreased stake in Atricure Inc by 0.4%.
This leaves the value of the investment at $610 million and 26,797 shares.
One of the smaller hedge funds
The two most similar investment funds to Decheng Capital are E&g Advisors, L.P. and M. Kraus & Co. They manage $326 billion and $326 billion respectively.
Bobby Bao investment strategy
Decheng Capital’s portfolio is diversified across 2 sectors.
Currently, their heaviest sector is Health Care — making up 20.6% of
the total portfolio value.
The fund focuses on investments in the United States as
34.8% of the portfolio companies
are based in the United States.
The majority of the companies in the fund’s portfolio are small-cap stocks.
Stocks with a size of more than $100 million in market cap make up
9% of the total holdings value.
On the other hand, large-cap stocks make up only approximately 0.1% of the portfolio.
The average market cap of the portfolio companies is close to $1.45 billion.
The complete list of Decheng Capital trades based on 13F SEC filings
These positions were updated on August 14th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.
| Security | Shares Owned | Value | Allocation |
|---|---|---|---|
| Cg Oncology Inc |
Opened
5,458,810
|
$172,334,632,000 | 52.81% |
| Alpine Immune Sciences Inc |
Closed
7,083,288
|
$135,007,469,000 | |
| Pacific Biosciences of California Inc |
Closed
2,940,361
|
$28,844,941,000 | |
| Nuvation Bio Inc. |
Opened
7,596,296
|
$20,398,067,000 | 6.25% |
| 10x Genomics, Inc. |
Closed
359,554
|
$20,120,642,000 | |
| Immunogen, Inc. |
Closed
659,928
|
$19,566,865,000 | |
| Karuna Therapeutics Inc |
Closed
47,000
|
$14,875,970,000 | |
| Roivant Sciences Ltd |
Closed
1,279,700
|
$14,371,031,000 | |
| Arcus Biosciences Inc |
No change
869,790
|
$13,246,902,000 | 4.06% |
| Zentalis Pharmaceuticals, Llc |
46.24%
3,070,442
|
$12,558,107,000 | 3.85% |
| Krystal Biotech Inc |
No change
65,772
|
$12,078,370,000 | 3.70% |
| BeyondSpring Inc |
No change
4,958,143
|
$11,899,543,000 | 3.65% |
| Illumnia, Inc. |
34.51%
108,767
|
$11,353,099,000 | 3.48% |
| Merus Nv |
Opened
179,098
|
$10,597,229,000 | 3.25% |
| Argenx Se |
Closed
27,429
|
$10,434,814,000 | |
| Acelyrin Inc(nsm) |
Closed
1,370,951
|
$10,227,294,000 | |
| Phathom Pharmaceuticals Inc |
No change
850,000
|
$8,755,000,000 | 2.68% |
| Newamsterdam Pharma Co Nv |
Opened
400,000
|
$7,684,000,000 | 2.35% |
| Moonlake Immunotherapeutics |
Opened
166,600
|
$7,325,402,000 | 2.24% |
| 4d Molecular Therapeutics In |
Opened
347,835
|
$7,301,057,000 | 2.24% |
| Crinetics Pharmaceuticals In |
Opened
157,958
|
$7,074,939,000 | 2.17% |
| Lantheus Holdings Inc(nms) |
Closed
92,196
|
$5,716,152,000 | |
| Cytokinetics Inc |
Opened
94,043
|
$5,095,250,000 | 1.56% |
| Terns Pharmaceuticals, Inc. |
Closed
714,285
|
$4,635,710,000 | |
| Legend Biotech Corp-adr |
Opened
98,558
|
$4,365,134,000 | 1.34% |
| Aura Biosciences, Inc. |
No change
515,555
|
$3,897,596,000 | 1.19% |
| Equillium Inc |
No change
4,447,308
|
$3,082,874,000 | 0.94% |
| Genedx Holdings Corp. |
No change
103,604
|
$2,708,206,000 | 0.83% |
| Vera Therapeutics Inc |
Opened
69,767
|
$2,524,170,000 | 0.77% |
| Cue Health Inc. |
Closed
8,980,909
|
$1,459,398,000 | |
| Scynexis Inc |
Closed
555,555
|
$1,238,888,000 | |
| Pyxis Oncology, Inc (formerly Apexigen) |
No change
326,810
|
$1,081,741,000 | 0.33% |
| Aadi Bioscience, Inc. |
Closed
526,329
|
$1,063,185,000 | |
| Atricure Inc |
42.07%
26,797
|
$610,168,000 | 0.19% |
| Grail Inc |
Opened
18,127
|
$278,612,000 | 0.09% |
| Arcellx Inc |
Opened
1,177
|
$64,959,000 | 0.02% |
| No transactions found | |||
| Showing first 500 out of 36 holdings | |||
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