Tang Capital Management LLC reported 39 positions worth $2.10B for the quarter ended Jun 30, 2026, up 19.0% on the prior quarter. It opened 4 new positions, added to 7, trimmed 4 and exited 13. Its largest holding is Aurinia Pharmaceuticals Inc. at 10.5% of the portfolio.
Reported 13F market value at each quarter end. A change mixes trading with price moves in the positions held.
Dollar value of shares bought and sold each quarter, at that quarter’s price. It counts trading only, not price changes.
How many positions were opened, added to, trimmed or closed each quarter.
Share of reported value in each sector at every quarter end.
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| NVCT Nuvectis Pharma, Inc. | +1.55M | – | $28.50M | 1.36% |
| CELC Celcuity Inc. | +264.6K | +25.2% | $27.68M | 6.55% |
| TARS Tarsus Pharmaceuticals, Inc. | +379.6K | +31.9% | $23.89M | 4.7% |
| FULC Fulcrum Therapeutics, Inc. | +6.52M | – | $23.87M | 1.14% |
| NNDM Nano Dimension Ltd. | +14.29M | – | $20.72M | 0.988% |
| CAPR Capricor Therapeutics, Inc. | +700.0K | +20.6% | $16.86M | 4.7% |
| CMPS COMPASS Pathways plc | +997.8K | +24.9% | $14.12M | 3.37% |
| AUPH Aurinia Pharmaceuticals Inc. | +814.6K | +6.7% | $13.82M | 10.55% |
| BOLD Boundless Bio, Inc. | +2.56M | – | $6.40M | 0.305% |
| CMPX Compass Therapeutics, Inc. | +1.20M | +7.1% | $2.63M | 1.88% |
| Holding | Change | Change % | Trade Value | Weight |
|---|---|---|---|---|
| INSM INSMED Inc | -160.0K | -61.5% | $17.06M | 0.508% |
| JANX Janux Therapeutics, Inc. | -500.0K | -100.0% | $6.95M | Exited |
| STOK Stoke Therapeutics, Inc. | -200.0K | -40.0% | $6.54M | 0.468% |
| BIIB Biogen Inc. | -35.0K | -100.0% | $6.42M | Exited |
| URGN UroGen Pharma Ltd. | -350.0K | -100.0% | $6.29M | Exited |
| ARVN Arvinas, Inc. | -538.7K | -100.0% | $5.71M | Exited |
| MRNA Moderna, Inc. | -50.0K | -50.0% | $3.50M | 0.167% |
| AGIO Agios Pharmaceuticals, Inc. | -100.0K | -100.0% | $3.38M | Exited |
| ERAS Erasca, Inc. | -200.0K | -100.0% | $3.24M | Exited |
| CHRS Coherus Oncology, Inc. | -1.89M | -100.0% | $3.19M | Exited |
| Holding | Shares Sold | Trade Value | Prior Weight |
|---|---|---|---|
| JANX Janux Therapeutics, Inc. | -500.0K | $6.95M | 0.394% |
| BIIB Biogen Inc. | -35.0K | $6.42M | 0.364% |
| URGN UroGen Pharma Ltd. | -350.0K | $6.29M | 0.357% |
| ARVN Arvinas, Inc. | -538.7K | $5.71M | 0.324% |
| AGIO Agios Pharmaceuticals, Inc. | -100.0K | $3.38M | 0.192% |
| ERAS Erasca, Inc. | -200.0K | $3.24M | 0.184% |
| CHRS Coherus Oncology, Inc. | -1.89M | $3.19M | 0.181% |
| NKTX Nkarta, Inc. | -1.48M | $3.12M | 0.177% |
| EOLS Evolus, Inc. | -483.0K | $1.99M | 0.113% |
| ABEO Abeona Therapeutics Inc. | -400.0K | $1.79M | 0.102% |
| # | Activity | ||||||||
|---|---|---|---|---|---|---|---|---|---|
| 1 | AUPH Aurinia Pharmaceuticals Inc. | Healthcare | 13.04M | $221.36M | 10.55% | +814.6K | +6.7% | Added | 9.81% |
| 2 | SYRE Spyre Therapeutics, Inc. | Healthcare | 1.89M | $167.99M | 8.01% | 0 | 0.0% | Unchanged | 2.23% |
| 3 | MIRM Mirum Pharmaceuticals, Inc. | Healthcare | 1.24M | $144.70M | 6.9% | 0 | 0.0% | Unchanged | 1.91% |
| 4 | KNSA Kiniksa Pharmaceuticals International, plc | Healthcare | 2.26M | $144.52M | 6.89% | 0 | 0.0% | Unchanged | 2.91% |
| 5 | CELC Celcuity Inc. | Healthcare | 1.31M | $137.53M | 6.55% | +264.6K | +25.2% | Added | 2.4% |
| 6 | CORT Corcept Therapeutics Inc | Healthcare | 1.50M | $130.43M | 6.22% | 0 | 0.0% | Unchanged | 1.39% |
| 7 | PTCT Ptc Therapeutics, Inc. | Healthcare | 1.50M | $122.36M | 5.83% | 0 | 0.0% | Unchanged | 1.8% |
| 8 | LKFT Lakefront Biotherapeutics NV | Healthcare | 3.79M | $113.50M | 5.41% | 0 | 0.0% | Unchanged | 5.75% |
| 9 | CAPR Capricor Therapeutics, Inc. | Healthcare | 4.10M | $98.73M | 4.7% | +700.0K | +20.6% | Added | 7.06% |
| 10 | TARS Tarsus Pharmaceuticals, Inc. | Healthcare | 1.57M | $98.71M | 4.7% | +379.6K | +31.9% | Added | 3.61% |
| 11 | ANAB Anaptysbio, Inc | Healthcare | 1.33M | $89.83M | 4.28% | 0 | 0.0% | Unchanged | 4.58% |
| 12 | IMCR Immunocore Holdings plc | Healthcare | 2.65M | $84.12M | 4.01% | 0 | 0.0% | Unchanged | 5.15% |
| 13 | CMPS COMPASS Pathways plc | Healthcare | 5.00M | $70.75M | 3.37% | +997.8K | +24.9% | Added | 3.68% |
| 14 | ANIP Ani Pharmaceuticals Inc | Healthcare | 707.5K | $58.57M | 2.79% | 0 | 0.0% | Unchanged | 2.97% |
| 15 | BNTX BioNTech SE | Healthcare | 470.0K | $43.73M | 2.08% | 0 | 0.0% | Unchanged | 0.19% |
Tip. Select a row to see that position’s full history at Tang Capital Management.
As of its Q2 2026 13F filing, Tang Capital Management LLC’s five largest positions were Aurinia Pharmaceuticals Inc. (AUPH) at 10.5%, Spyre Therapeutics, Inc. (SYRE) at 8.0%, Mirum Pharmaceuticals, Inc. (MIRM) at 6.9%, Kiniksa Pharmaceuticals International, plc (KNSA) at 6.9%, Celcuity Inc. (CELC) at 6.6% of the reported portfolio.
Tang Capital Management LLC reported a 13F portfolio worth $2.10B across 39 positions for Q2 2026. That is up 19.0% from the previous quarter.
Its largest purchases by value were Nuvectis Pharma, Inc. ($28.50M), Celcuity Inc. ($27.68M), Tarsus Pharmaceuticals, Inc. ($23.89M). It opened 4 new positions.
Its largest sales by value were INSMED Inc ($17.06M), Janux Therapeutics, Inc. ($6.95M), Stoke Therapeutics, Inc. ($6.54M). It exited 13 positions entirely.
From the Form 13F-HR reports Tang Capital Management LLC files with the SEC each quarter, within 45 days of quarter end. A 13F lists long positions in US-listed equities and options; it excludes short positions, cash, bonds and most non-US holdings.
13F data reflects long positions in US-listed equities and options as reported to the SEC up to 45 days after quarter end. It excludes short positions, cash, bonds and most non-US securities, so it is not a complete picture of a manager’s assets.