Tang Capital Management LLC 13F holdings
Tang Capital Management LLC reported 40 positions with a total reported value of $2.2B as of 2026-06-30, in its 13F for Q2 2026, filed 2026-08-14. Top holdings by reported value: AUPH AURINIA PHARMACEUTICALS INC (10.1%), SYRE SPYRE THERAPEUTICS INC (7.7%), MIRM MIRUM PHARMACEUTICALS INC (6.6%), KNSA KINIKSA PHARMACEUTICALS INTL (6.6%), CELC CELCUITY INC (6.3%). Against 2026-03-31 it opened 5 new positions and exited 16. Next 13F due by 2026-11-14, the legal deadline 45 days after the quarter ending 2026-09-30.
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Top holdings
25 largest of 40 positions · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| AUPH AURINIA PHARMACEUTICALS INC | 13,044,106 | $221.4M | 10.1% |
| SYRE SPYRE THERAPEUTICS INC | 1,892,200 | $168.0M | 7.7% |
| MIRM MIRUM PHARMACEUTICALS INC | 1,236,027 | $144.7M | 6.6% |
| KNSA KINIKSA PHARMACEUTICALS INTL | 2,259,889 | $144.5M | 6.6% |
| CELC CELCUITY INC | 1,314,594 | $137.5M | 6.3% |
| CORT CORCEPT THERAPEUTICS INC | 1,500,000 | $130.4M | 6.0% |
| PTCT PTC THERAPEUTICS INC | 1,500,000 | $122.4M | 5.6% |
| LAKEFRONT BIOTHERAPEUTICS NV | 3,785,991 | $113.5M | 5.2% |
| CAPR CAPRICOR THERAPEUTICS INC | 4,099,900 | $98.7M | 4.5% |
| TARS TARSUS PHARMACEUTICALS INC | 1,568,266 | $98.7M | 4.5% |
| SPY STATE STR SPDR S&P 500 ETF T | 123,000 | $91.9M | 4.2% |
| ANAB ANAPTYSBIO INC | 1,330,879 | $89.8M | 4.1% |
| IMCR IMMUNOCORE HLDGS PLC | 2,649,368 | $84.1M | 3.8% |
| CMPS COMPASS PATHWAYS PLC | 5,000,000 | $70.8M | 3.2% |
| ANIP ANI PHARMACEUTICALS INC | 707,500 | $58.6M | 2.7% |
| BNTX BIONTECH SE | 470,000 | $43.7M | 2.0% |
| CMPX COMPASS THERAPEUTICS INC | 17,990,782 | $39.4M | 1.8% |
| PGEN PRECIGEN INC | 6,417,500 | $36.6M | 1.7% |
| VIRIDIAN THERAPEUTICS INC | 1,792,626 | $32.9M | 1.5% |
| NVCT NUVECTIS PHARMA INC | 1,550,000 | $28.5M | 1.3% |
| DNTH DIANTHUS THERAPEUTICS INC | 264,692 | $25.8M | 1.2% |
| FULC FULCRUM THERAPEUTICS INC | 6,521,412 | $23.9M | 1.1% |
| AVIR ATEA PHARMACEUTICALS INC | 4,814,700 | $22.4M | 1.0% |
| CBIO CRESCENT BIOPHARMA INC. | 1,160,000 | $20.9M | 1.0% |
| NNDM NANO DIMENSION LTD | 14,292,813 | $20.7M | 0.9% |
SEC FORM 13F · Q2 2026 · VALUES AS REPORTED, NOT PRICES
New positions this quarter
Held at 2026-06-30, not at 2026-03-31 · 5 in all · reported value as of 2026-06-30
Sold out
Held at 2026-03-31, gone by 2026-06-30 · 16 in all · reported value as of 2026-03-31
| Holding | Shares 2026-03-31 | Reported value | % of portfolio then |
|---|---|---|---|
| GALAPAGOS NV | 3,785,991 | $113.6M | 5.8% |
| KALVISTA PHARMACEUTICALS INC | 4,573,530 | $92.1M | 4.7% |
| JANX JANUX THERAPEUTICS INC | 500,000 | $7.0M | 0.4% |
| BIIB BIOGEN INC | 35,000 | $6.4M | 0.3% |
| URGN UROGEN PHARMA LTD | 350,000 | $6.3M | 0.3% |
| ARVN ARVINAS INC | 538,658 | $5.7M | 0.3% |
| KEZAR LIFE SCIENCES INC | 664,314 | $4.9M | 0.3% |
| AGIO AGIOS PHARMACEUTICALS INC | 100,000 | $3.4M | 0.2% |
| ERAS ERASCA INC | 200,000 | $3.2M | 0.2% |
| CHRS COHERUS ONCOLOGY INC | 1,886,748 | $3.2M | 0.2% |
| NKTX NKARTA INC | 1,480,823 | $3.1M | 0.2% |
| EOLS EVOLUS INC | 483,021 | $2.0M | 0.1% |
| ABEO ABEONA THERAPEUTICS INC | 400,000 | $1.8M | <0.1% |
| FATE FATE THERAPEUTICS INC | 1,167,773 | $1.4M | <0.1% |
| NMRA NEUMORA THERAPEUTICS INC. | 439,878 | $857.8K | <0.1% |
| LXRX LEXICON PHARMACEUTICALS INC | 399,700 | $623.5K | <0.1% |
Biggest increases and decreases
Positions held at both quarter ends, by change in shares · reported value as of 2026-06-30
Increases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| CELC CELCUITY INC | 1,050,000 | 1,314,594 | +25.2% | $137.5M |
| TARS TARSUS PHARMACEUTICALS INC | 1,188,624 | 1,568,266 | +31.9% | $98.7M |
| CAPR CAPRICOR THERAPEUTICS INC | 3,399,900 | 4,099,900 | +20.6% | $98.7M |
| CMPS COMPASS PATHWAYS PLC | 4,002,200 | 5,000,000 | +24.9% | $70.8M |
| AUPH AURINIA PHARMACEUTICALS INC | 12,229,500 | 13,044,106 | +6.7% | $221.4M |
| CMPX COMPASS THERAPEUTICS INC | 16,790,809 | 17,990,782 | +7.1% | $39.4M |
| NUVB NUVATION BIO INC | 3,149,557 | 3,299,557 | +4.8% | $18.7M |
Decreases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| SPY STATE STR SPDR S&P 500 ETF T | 168,000 | 123,000 | -26.8% | $91.9M |
| INSM INSMED INC | 260,000 | 100,000 | -61.5% | $10.7M |
| STOK STOKE THERAPEUTICS INC | 500,000 | 300,000 | -40.0% | $9.8M |
| MRNA MODERNA INC | 100,000 | 50,000 | -50.0% | $3.5M |
| PLRX PLIANT THERAPEUTICS INC | 6,143,132 | 6,141,261 | -0.0% | $7.0M |
CIK 1232621 · 13F FILINGS ON EDGAR · INFORMATIONAL ONLY
