How is hedge fund similarity measured?

Similarity is computed from each fund's top conviction holdings in their latest 13F filing. Funds are scored by the overlap of distinctive shared positions (the mega-caps that nearly every fund owns are excluded), so the ranking reflects genuinely shared strategy rather than common index exposure.

Hedge Funds Similar to TANG

13F Portfolio OverlapQ2 2026TANG portfolio →

Institutional-grade research for retail investors

Most similar hedge funds by 13F overlap

TANG CAPITAL MANAGEMENT LLC is an institutional investor managing $2.2B across 41 U.S. equity positions as of Q2 2026. Based on the overlap of conviction holdings in their latest 13F filings, the hedge funds with portfolios most similar to TANG are Palo Alto Investors, RTW INVESTMENTS, Monashee Investment, with shared positions in $PTCT, $MIRM, $ANAB, $CMPX, $CAPR, $INSM. The full ranking of 25 similar funds is below.

#1Palo Alto Investors LPActive

Substantial overlap · 10 shared positions

$PTCT $MIRM $ANAB $CMPX $CAPR $INSM

$724M

52 positions

#2RTW INVESTMENTS, LPActive

Notable overlap · 8 shared positions

$PTCT $SYRE $CELC $TARS $IMCR $CMPS

$11.7B

84 positions

#3Monashee Investment Management LLCPassive

Notable overlap · 3 shared positions

$SYRE $CELC $NUVB

$60M

23 positions

#4PERCEPTIVE ADVISORS LLCActive

Notable overlap · 3 shared positions

$SYRE $CELC $CORT

$6.7B

109 positions

#5Boxer Capital Management, LLCSmart money

Notable overlap · 7 shared positions

$CELC $CAPR $CORT $PGEN $PTCT $SYRE

$1.3B

63 positions

#6VR Adviser, LLCSmart money

Notable overlap · 4 shared positions

$SYRE $VRDN $DNTH $CBIO

$3.3B

33 positions

#7Paradigm Biocapital Advisors LPActive

Notable overlap · 4 shared positions

$SYRE $TARS $VRDN $INSM

$5.3B

28 positions

#8NEA Management Company, LLCSmart money

Notable overlap · 3 shared positions

$CELC $AUPH $GOSS

$1.6B

26 positions

#9Jones Hill Capital LPActive

Notable overlap · 5 shared positions

$IMCR $ANIP $CAPR $DNTH $INSM

$470M

29 positions

#10Affinity Asset Advisors, LLCActive

Notable overlap · 5 shared positions

$SYRE $ANAB $DNTH $INSM $MRNA

$2.2B

113 positions

#11First Turn Management, LLCActive

Notable overlap · 5 shared positions

$CELC $MIRM $VRDN $DNTH $INSM

$935M

31 positions

#12PSP Research LLCActive

Notable overlap · 7 shared positions

$AUPH $PTCT $IMCR $TARS $SYRE $VKTX

$188M

75 positions

#13Novo Holdings A/SActive

Notable overlap · 3 shared positions

$MIRM $VRDN $INSM

$1.7B

25 positions

#14Trails Edge Capital Partners, LPActive

Notable overlap · 4 shared positions

$MIRM $IMCR $INSM $ALT

$630M

35 positions

#15TCG Crossover Management, LLCActive

Notable overlap · 4 shared positions

$SYRE $MIRM $DNTH $ALT

$4.2B

54 positions

#16Frazier Life Sciences Management, L.P.Smart money

Notable overlap · 3 shared positions

$MIRM $TARS $IMCR

$4.6B

41 positions

#17DIADEMA PARTNERS LPPassive

Notable overlap · 5 shared positions

$CORT $BNTX $IMCR $CAPR $VKTX

$791M

149 positions

#18BAKER BROS. ADVISORS LPSmart money

Notable overlap · 8 shared positions

$CELC $KNSA $IDYA $INSM $STOK $DNTH

$20.0B

84 positions

#19SILVERARC CAPITAL MANAGEMENT, LLCActive

Notable overlap · 3 shared positions

$CELC $DNTH $CMPS

$962M

73 positions

#20Patient Square Capital LPActive

Some overlap · 3 shared positions

$MIRM $BNTX $DNTH

$646M

23 positions

#21Parkman Healthcare Partners LLCActive

Some overlap · 4 shared positions

$PTCT $ANIP $VRDN $STOK

$977M

77 positions

#22HealthInvest Partners ABActive

Some overlap · 6 shared positions

$MIRM $SYRE $CELC $IDYA $CMPX $INSM

$372M

39 positions

#23Logos Global Management LPActive

Some overlap · 6 shared positions

$BNTX $CMPS $DNTH $CBIO $IMCR $IDYA

$2.3B

68 positions

#24MPM BioImpact LLCActive

Some overlap · 4 shared positions

$CORT $TARS $DNTH $STOK

$1.6B

37 positions

#25StemPoint Capital LPPassive

Some overlap · 4 shared positions

$KNSA $CELC $SYRE $DNTH

$581M

84 positions

Compare TANG’s portfolio side by side

See the exact shared positions, conviction overlap, sector alignment, and where these funds diverge — and run the same analysis on any of 8,700+ institutions.

View TANG’s holdings

Similarity is derived from each fund’s latest 13F-HR filing with the SEC. Funds are ranked by the overlap of distinctive conviction holdings; near-universal mega-cap positions are excluded so the ranking reflects shared strategy, not common index exposure. Data is informational only and not investment advice.