Tang Capital Management portfolio
Concentrated managerInvestment firmPortfolio as of Jun 30, 2026 (Q2 2026) · filed with the SEC on Aug 14, 2026 · data updated on Nov 5, 2026 · Q2 2026 13F (filing) ↗ · all its 13F filings ↗
A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.
Tang Capital Management reported a $2.2 bn portfolio of 40 positions to the SEC as of the end of Q2 2026. Its largest positions are AUPH, SYRE, MIRM. During the quarter it opened Nuvectis Pharma and Fulcrum Therapeutics.
Sections with a free account
What it reported after the quarter end (Q2 2026)
The 13F shows the portfolio as of Jun 30, 2026. Since then Tang Capital Management has filed these own trades with the SEC (Form 4, when it owns more than 10% of a company or holds a role in it) and stakes above 5% (13D and 13G). It is not everything it did: only what it must report before the next 13F.
- BoughtFulcrum TherapeuticsFULC$1.5M
Form 4 · 417,562 shares · trades from Jul 13 to Jul 17 · filed Jul 20, 2026 · filing (latest of 2) ↗
Stake reported in the company · event of Oct 20, 2026 · filed Oct 27, 2026 · filing ↗
- 13GSkye Bioscience6 %
Stake reported in the company · event of Oct 7, 2026 · filed Oct 14, 2026 · filing ↗
Stake reported in the company · event of Oct 6, 2026 · filed Oct 6, 2026 · filing ↗
- 13GNano DimensionNNDM7.9 % → 9.1 %
Stake reported in the company · event of Aug 19, 2026 · filed Aug 21, 2026 · filing ↗
- 13G/AFulcrum TherapeuticsFULC8.2 % → 10.4 %
Stake reported in the company · event of Jul 13, 2026 · filed Jul 15, 2026 · filing ↗
Stake reported in the company · event of Jun 30, 2026 · filed Aug 14, 2026 · filing ↗
- 13G/AKalVista PharmaceuticalsKALV9.9 % → 0 %
Stake reported in the company · event of Jun 30, 2026 · filed Aug 14, 2026 · filing ↗
What changed this quarter
28 positions with a change (4 new, 7 added to, 4 trimmed, 13 sold); also, 2 exited through an acquisition or merger. 10 are listed here: those of 0.5 points of the portfolio or more (up to 12).
- State Str Spdr S&P 500 ETF T−27%fewer sharesReduced5.5% → 4.2%
- Nuvectis Pharma+1.3 ppof portfolioNew— → 1.3%
- Celcuity+25%more sharesIncreased6.1% → 6.3%
- Tarsus Pharmaceuticals+32%more sharesIncreased4.2% → 4.5%
- Fulcrum Therapeutics+1.1 ppof portfolioNew— → 1.1%
- Nano Dimension+0.9 ppof portfolioNew— → 0.9%
- Insmed−62%fewer sharesReduced2.2% → 0.5%
- Capricor Therapeutics+21%more sharesIncreased5.2% → 4.5%
- COMPASS Pathways+25%more sharesIncreased1.1% → 3.2%
- Aurinia Pharmaceuticals+6.7%more sharesIncreased9.2% → 10.1%
The figure on the right: for positions added to or trimmed, the change in the number of shares (%); for new and sold ones, the points of the portfolio moved (pp). Below, the portfolio weight before → after. Traded weight: what it bought or sold, excluding price effects.
Top holdings
- Aurinia PharmaceuticalsAUPH10.1%
- Spyre TherapeuticsSYRE7.7%
- Mirum PharmaceuticalsMIRM6.6%
- Kiniksa Pharmaceuticals InternationalKNSA6.6%
- CelcuityCELC6.3%
- Corcept TherapeuticsCORT6.0%
- PTC TherapeuticsPTCT5.6%
- Lakefront BiotherapeuticsLKFT5.2%
- Capricor TherapeuticsCAPR4.5%
- Tarsus PharmaceuticalsTARS4.5%
- State Str Spdr S&P 500 ETF TSPY4.2%
- AnaptysbioANAB4.1%
- Immunocore HoldingsIMCR3.8%
- COMPASS PathwaysCMPS3.2%
- ANI PharmaceuticalsANIP2.7%
“Since”: first quarter of the current run, unbroken until today. In the details, prices are the quarter-end prices of the quarters in which it added shares, per the 13F. The manager may have bought at any price within each quarter; the SEC only publishes the value at quarter end.
Portfolio by sector
- ● Health Care 95%
- ● No sector 4%
- ● Information Technology 1%
How its portfolio changed (8 quarters)
Q2 2026: 40
Q2 2026: 63%
Q2 2026: 6.5%
Traded turnover: the weight it bought plus the weight it sold in the quarter, divided by two, excluding price moves. The plain “turnover” in the header does include that effect. With a free account: the full history and sectors over time.
Stakes above 5% (13D/13G)
Companies where this filer reported holding 5% or more of the shares. It is the figure from its latest filing on each one; history since December 2024.
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Same type of filer and a 13F portfolio value between a third and three times this one. It is not a comparison of what they hold.
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