13F Pro13F Pro

TANG CAPITAL MANAGEMENT LLC

Institutional InvestorSimilar funds →SEC EDGAR: CIK 1232621
Institutional-grade research for retail investors

Sector Allocation

  • Healthcare89.7%$2.0B
  • Other9.3%$205.4M
  • Technology0.9%$20.7M

AUM History

13fpro.ai/research/fund/tang-capital-management-llc-1232621

Largest positions — Q2 2026

Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.

13fpro.ai/research/fund/tang-capital-management-llc-1232621

TANG CAPITAL MANAGEMENT LLC 13F holdings — Q2 2026

$2.2B portfolio (+11.8% QoQ) · 41 holdings · Q2 2026 13F · top 10 are 63% of the stock portfolio

All holdings — TANG CAPITAL MANAGEMENT LLC (Q2 2026)

41 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.

Company
SPY$SPYSPDR S&P 500 ETF TRUSTetf/fund$91.9M-27%
ANAB$ANABANAPTYSBIO, INC$89.8M—
IMCR$IMCRImmunocore Holdings plcadr$84.1M—
CMPS$CMPSCOMPASS Pathways plcadr$70.8M+25%
ANIP$ANIPANI PHARMACEUTICALS INC$58.6M—
BNTX$BNTXBioNTech SEadr$43.7M—
CMPX$CMPXCompass Therapeutics, Inc.$39.4M+7%
PGEN$PGENPRECIGEN, INC.$36.6M—
VRDN$VRDNViridian Therapeutics, Inc.\DE$32.9M—
NVCT$NVCTNuvectis Pharma, Inc.$28.5MNew
DNTH$DNTHDianthus Therapeutics, Inc. /DE/$25.8M—
FULC$FULCFulcrum Therapeutics, Inc.$23.9MNew
AVIR$AVIRAtea Pharmaceuticals, Inc.$22.4M—
CBIO$CBIOCRESCENT BIOPHARMA, INC.$20.9M—
NNDM$NNDMNano Dimension Ltd.adr$20.7MNew

What changed in Q2 2026

Against the previous quarter's 13F: 5 new, 7 added to, 5 trimmed, 15 sold out. Share-count changes; largest moves by dollar size first.

New positions (5)

  • NVCT$NVCTNuvectis Pharma, Inc.$28.5M

    first bought this quarter

  • FULC$FULCFulcrum Therapeutics, Inc.$23.9M

    first bought this quarter

  • NNDM$NNDMNano Dimension Ltd.$20.7M

    first bought this quarter

  • GOSS$GOSSGossamer Bio, Inc.$11.5M

    first bought this quarter

  • BOLD$BOLDBoundless Bio, Inc.$6.4M

    first bought this quarter

Added to (7)

  • CELC$CELCCelcuity Inc.+25%

    now $137.5M · held 4 qtrs

  • TARS$TARSTarsus Pharmaceuticals, Inc.+32%

    now $98.7M · held 10+ qtrs

  • CAPR$CAPRCAPRICOR THERAPEUTICS, INC.+21%

    now $98.7M · held 3 qtrs, 3 adds in a row

  • CMPS$CMPSCOMPASS Pathways plc+25%

    now $70.8M · held 2 qtrs, 2 adds in a row

  • AUPH$AUPHAurinia Pharmaceuticals Inc.+7%

    now $221.4M · held 10+ qtrs, 2 adds in a row

  • CMPX$CMPXCompass Therapeutics, Inc.+7%

    now $39.4M · held 8 qtrs

+1 more in the Excel export

Trimmed (5)

  • SPY$SPYSPDR S&P 500 ETF TRUST-27%

    now $91.9M · held 3 qtrs

  • INSM$INSMINSMED Inc-62%

    now $10.7M · held 9 qtrs

  • STOK$STOKStoke Therapeutics, Inc.-40%

    now $9.8M · held 7 qtrs

  • MRNA$MRNAModerna, Inc.-50%

    now $3.5M · held 7 qtrs, 2 trims in a row

  • PLRX$PLRXPLIANT THERAPEUTICS, INC.-0.0%

    now $7.0M · held 6 qtrs

Sold out (15)

  • KALV$KALVKalVista Pharmaceuticals, Inc.was $92.1M

    held 9+ qtrs

  • JANX$JANXJanux Therapeutics, Inc.was $7.0M

    held 1 qtr

  • BIIB$BIIBBIOGEN INC.was $6.4M

    held 8 qtrs

  • URGN$URGNUroGen Pharma Ltd.was $6.3M

    held 4 qtrs

  • ARVN$ARVNARVINAS, INC.was $5.7M

    held 5 qtrs

  • KZR$KZRKezar Life Sciences, Inc.was $4.9M

+9 more in the Excel export

Share

Holdings by quarter

Every 13F TANG CAPITAL MANAGEMENT LLC has filed, 41 earlier quarters. Pick one to see what it held then.

Email me the moment this fund files its next 13FPro

Is it too late to follow TANG CAPITAL MANAGEMENT?

Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.

Average quality of TANG CAPITAL MANAGEMENT's top 20 holdings: 50/100 (our AI quality score, weighted by position size; 12 of the 20 are scored)

Top 10 since filing

-9.5%

Value-weighted move of the 10 largest stock positions

Turnover

9%

Last quarter; 42% over the last 4

Top 10 weight

63%

Share of the stock portfolio in its 10 largest positions

Held 4+ quarters

77%

Share of portfolio value in positions held a year or more

Highest-quality names it owns(among its 100 largest positions)

The 8 highest-scoring companies in this portfolio are a Pro feature.

How these are measured
  • Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
  • Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
  • Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
  • Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
  • Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.

Portfolio Overview

TANG CAPITAL MANAGEMENT LLC disclosed 41 positions worth $2.2B in its Form 13F-HR for Q2 2026, led by $AUPH (Aurinia Pharmaceuticals Inc.) at 10.1% of the equity portfolio, followed by $SYRE and $MIRM. During the quarter the fund opened 5 new positions and exited 15 — including a new stake in $NVCT and a full exit from $KALV. The portfolio is most concentrated in Healthcare (89.7% of disclosed assets). All figures are sourced directly from TANG CAPITAL MANAGEMENT LLC’s Form 13F-HR filing with the SEC under CIK 1232621.

Funds like this

managers whose biggest positions overlap TANG CAPITAL MANAGEMENT's
RTW INVESTMENTS, LP$11.71B 13F book · 8 shared top holdingsPTCTSYRECELCTARSPERCEPTIVE ADVISORS LLC$6.66B 13F book · 3 shared top holdingsSYRECELCCORTPalo Alto Investors LP$723.72M 13F book · 10 shared top holdingsPTCTMIRMANABCMPXParadigm Biocapital Advisors LP$5.34B 13F book · 4 shared top holdingsSYRETARSVRDNINSMVR Adviser, LLC$3.30B 13F book · 4 shared top holdingsSYREVRDNDNTHCBIOBAKER BROS. ADVISORS LP$19.96B 13F book · 8 shared top holdingsCELCKNSAIDYAINSM

Browse Top Institutional Investors

13F Pro tracks 8,700+ institutional investors filing 13F reports with the SEC.

Berkshire HathawayBridgewater AssociatesCitadel AdvisorsRenaissance TechnologiesTwo Sigma InvestmentsDE Shaw & CoMillennium ManagementAQR Capital ManagementPoint72 Asset ManagementTiger Global ManagementVanguard GroupBlackRock

to search all 8,700+ institutional filers.

AI-Powered Hedge Fund Analysis: TANG CAPITAL MANAGEMENT LLC

13F Pro is an AI hedge fund tracker and stock research platform. For TANG CAPITAL MANAGEMENT LLC (SEC CIK: 1232621), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.

Every holding in TANG CAPITAL MANAGEMENT LLC's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.