Tang Capital Management Portfolio
13F Holdings & Position Changes — Last filed Aug 14, 2026
13F Holdings & Position Changes — Last filed Aug 14, 2026
Event-driven biotech specialist known for concentrated bets around clinical catalysts, M&A situations, and activist campaigns. Deep industry relationships and willingness to engage publicly make the fund a closely watched market signal.
Tang Capital Management is a $2B biotech-focused hedge fund managed by Kevin Tang. As of their latest 13F filing (Q2 2026), the fund holds 35 positions worth $2.0B. This quarter they initiated 4 new positions and exited 196. Their largest holding is AUPH ($221.4M).
Tang initiated 4 new positions and increased 6 this quarter. Portfolio grew +13.3% to $2.0B. 1000 upcoming catalysts across holdings.
Portfolio Value (13F)
$2.0B
Holdings
35
Top 10 Concentration
68.3%
QoQ Change
+13.3%
Turnover
3.9%
Portfolio Value Trend
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| # | Ticker | Company | Change | Value | % of Portfolio | SI % Float ? | Trend |
|---|---|---|---|---|---|---|---|
| 1 | AUPH | Aurinia Pharmaceuticals Inc. | Increased↑3Q | $221.4M | 10.87% | 8.0% | |
| 2 | SYRE | Spyre Therapeutics, Inc. | $168.0M | 8.25% | 15.6% | ||
| 3 | MIRM | Mirum Pharmaceuticals Inc. | $144.7M | 7.10% | 14.1% | ||
| 4 | KNSA | Kiniksa Pharmaceuticals International, plc | $144.5M | 7.09% | — | ||
| 5 | CELC | Celcuity Inc. | Increased | $137.5M | 6.75% | 32.3% | |
| 6 | CORT | Corcept Therapeutics Inc. | $130.4M | 6.40% | — | ||
| 7 | PTCT | PTC Therapeutics Inc. | $122.4M | 6.01% | 16.6% | ||
| 8 | GLPGF | Galapagos NV | $113.5M | 5.57% | — | ||
| 9 | CMPSOther Healthcare | COMPASS Pathways plc | Increased↑2Q | $110.2M | 5.41% | 10.3% | |
| 10 | CAPR | Capricor Therapeutics, Inc. | Increased↑3Q | $98.7M | 4.85% | — |
Share changes reflect active decisions. Value changes include price moves.
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Tang Capital Management held 35 biotech stocks in their 13F portfolio this quarter. Their top positions include AUPH, SYRE, MIRM, KNSA, CELC. The full holdings table is available on BiotechEdge with position sizes, quarter-over-quarter changes, and AI analysis.
Tang Capital Management's tracked biotech portfolio is worth $2.0B across 35 positions, with total assets under management of approximately $2B. Portfolio values are based on 13F filings with the SEC.
Tang Capital Management initiated 4 new positions this quarter, including NVCT, FULC, NNDM, BOLD. They also increased 6 existing positions.
Tang Capital Management fully exited 196 positions this quarter, including IONS, LONA, TECX, RCUS, ZNTL and 191 more. They also trimmed 4 existing positions.
Event-driven biotech specialist known for concentrated bets around clinical catalysts, M&A situations, and activist campaigns. Deep industry relationships and willingness to engage publicly make the fund a closely watched market signal.
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