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Tang Capital Management LLC

CIK 1232621 · latest 13F filed 14 August 2026 · Read the filing on EDGAR

Tang Capital Management LLC reported 40 US-listed holdings worth $2.19 billion in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: Aurinia Pharmaceuticals Inc. (10.1%), Spyre Therapeutics Inc. (7.7%) and Mirum Pharmaceuticals Inc. (6.6%). Against the quarter before, it opened 4 positions, added to 7, trimmed 4 and sold out of 15.

Reported holdings$2.19B+11.2% on Q1 2026
Positions40-11 on Q1 2026
The largest ten63.0%of its reported holdings
Latest 13FQ2 2026filed 14 August 2026
Where the money is
Added toHeldTrimmed
AUPH10.1%SYRE7.7%MIRM6.6%KNSA6.6%CELC6.3%CORT6.0%PTCT5.6%LKFT5.2%CAPR4.5%TARS4.5%SPY4.2%ANAB4.1%IMCR3.8%CMPS3.2%26 more21.6%

The 14 largest of its 40 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.

Reported holdings, quarter by quarter
Q3 2024: $1.40 billion in 154 positions$1.40BQ3 24Q4 2024: $1.51 billion in 183 positions$1.51BQ4 24Q1 2025: $1.81 billion in 202 positions$1.81BQ1 25Q2 2025: $1.98 billion in 200 positions$1.98BQ2 25Q3 2025: $2.60 billion in 194 positions$2.60BQ3 25Q4 2025: $2.02 billion in 75 positions$2.02BQ4 25Q1 2026: $1.97 billion in 51 positions$1.97BQ1 26Q2 2026: $2.19 billion in 40 positions$2.19BQ2 26

What the fund reported holding at each quarter's end; hover a bar for the number of positions

What it did on the quarter

Opened 4Added 7Held 25Trimmed 4Sold out 15
Opened: 4Added: 7Held: 25Trimmed: 4Sold out: 15

Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held

Opened 4

  1. Nuvectis Pharma Inc. NVCT$28.5 million
  2. Fulcrum Therapeutics Inc. FULC$23.9 million
  3. Nano Dimension Ltd NNDM$20.7 million
  4. Boundless Bio Inc. BOLD$6.4 million

Added to 7

  1. Celcuity Inc. CELC+264,594 shares · +25%
  2. Tarsus Pharmaceuticals Inc. TARS+379,642 shares · +32%
  3. Capricor Therapeutics Inc. CAPR+700,000 shares · +21%
  4. Compass Pathways PLC CMPS+997,800 shares · +25%
  5. Aurinia Pharmaceuticals Inc. AUPH+814,606 shares · +7%
  6. Compass Therapeutics Inc. CMPX+1.2 million shares · +7%
  7. Nuvation Bio Inc. NUVB+150,000 shares · +5%

Trimmed 4

  1. SPDR S&P 500 SPY-45,000 shares · -27%
  2. Insmed Inc. INSM-160,000 shares · -62%
  3. Stoke Therapeutics Inc. STOK-200,000 shares · -40%
  4. Moderna, Inc. MRNA-50,000 shares · -50%

Sold out of 15

  1. Kalvista Pharmaceuticals Inc. KALV$92.1 million last quarter
  2. Janux Therapeutics Inc. JANX$7.0 million last quarter
  3. Biogen Inc. BIIB$6.4 million last quarter
  4. Urogen Pharma Ltd URGN$6.3 million last quarter
  5. Arvinas Inc. ARVN$5.7 million last quarter
  6. Kezar Life Sciences Inc. KZR$4.9 million last quarter
  7. Agios Pharmaceuticals Inc. AGIO$3.4 million last quarter
  8. Erasca Inc. ERAS$3.2 million last quarter

What it holds

CompanySharesValueOf its bookChange in shares
Aurinia Pharmaceuticals Inc. AUPH13,044,106$221.4 million10.11%+814,606
Spyre Therapeutics Inc. SYRE1,892,200$168.0 million7.67%no change
Mirum Pharmaceuticals Inc. MIRM1,236,027$144.7 million6.61%no change
Kiniksa Pharmaceuticals Intl KNSA2,259,889$144.5 million6.60%no change
Celcuity Inc. CELC1,314,594$137.5 million6.28%+264,594
Corcept Therapeutics Inc. CORT1,500,000$130.4 million5.95%no change
PTC Therapeutics, Inc. PTCT1,500,000$122.4 million5.59%no change
Galapagos NV LKFT3,785,991$113.5 million5.18%no change
Capricor Therapeutics Inc. CAPR4,099,900$98.7 million4.51%+700,000
Tarsus Pharmaceuticals Inc. TARS1,568,266$98.7 million4.51%+379,642
SPDR S&P 500 SPY123,000$91.9 million4.19%-45,000
Anaptysbio Inc. ANAB1,330,879$89.8 million4.10%no change
Immunocore Hldgs PLC IMCR2,649,368$84.1 million3.84%no change
Compass Pathways PLC CMPS5,000,000$70.8 million3.23%+997,800
ANI Pharmaceuticals Inc. ANIP707,500$58.6 million2.67%no change
BioNTech SE BNTX470,000$43.7 million2.00%no change
Compass Therapeutics Inc. CMPX17,990,782$39.4 million1.80%+1,199,973
Precigen Inc. PGEN6,417,500$36.6 million1.67%no change
Viridian Therapeutics Inc. VRDN1,792,626$32.9 million1.50%no change
Nuvectis Pharma Inc. NVCT1,550,000$28.5 million1.30%new
Dianthus Therapeutics Inc. DNTH264,692$25.8 million1.18%no change
Fulcrum Therapeutics Inc. FULC6,521,412$23.9 million1.09%new
Atea Pharmaceuticals Inc. AVIR4,814,700$22.4 million1.02%no change
Crescent Biopharma Inc. CBIO1,160,000$20.9 million0.95%no change
Nano Dimension Ltd NNDM14,292,813$20.7 million0.95%new
Viking Therapeutics Inc. VKTX500,000$19.5 million0.89%no change
Nuvation Bio Inc. NUVB3,299,557$18.7 million0.86%+150,000
Ideaya Biosciences Inc. IDYA450,000$16.8 million0.77%no change
Journey Medical Corp. (derm) DERM1,610,000$11.4 million0.52%no change
Insmed Inc. INSM100,000$10.7 million0.49%-160,000
Stoke Therapeutics Inc. STOK300,000$9.8 million0.45%-200,000
Pliant Therapeutics Inc. PLRX6,141,261$7.0 million0.32%-1,871
Boundless Bio Inc. BOLD2,559,875$6.4 million0.29%new
PMV Pharmaceuticals Inc. PMVP4,245,085$5.7 million0.26%no change
Moderna, Inc. MRNA50,000$3.5 million0.16%-50,000
Wave Life Sciences Ltd WVE600,000$3.5 million0.16%no change
Heron Therapeutics Inc. HRTX6,250,000$2.7 million0.12%no change
Lenz Therapeutics Inc. LENZ451,114$2.6 million0.12%no change
Altimmune, Inc. (alt) ALT666,022$2.0 million0.09%no change
Rocket Pharmaceuticals Inc. RCKT100,000$342,0000.02%no change
Every US-listed position in the fund's 13F for the quarter ended 30 June 2026, by the value it reported.
Read moreChange is shares against its 13F for the quarter before; the 15 it sold out of are in the box above.