Tang Capital Management Portfolio
13F Holdings & Position Changes — Last filed May 15, 2026
13F Holdings & Position Changes — Last filed May 15, 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 (Q1 2026), the fund holds 46 positions worth $1.8B. This quarter they initiated 1 new position and exited 181. Their largest holding is AUPH ($181.2M).
Tang initiated 1 new position and increased 12 this quarter. Portfolio shrank -0.9% to $1.8B. 1000 upcoming catalysts across holdings.
Portfolio Value (13F)
$1.8B
Holdings
46
Top 10 Concentration
63.5%
QoQ Change
-0.9%
Turnover
0.2%
Portfolio Value Trend
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| # | Ticker | Company | Change | Value | % of Portfolio | SI % Float ? | Trend |
|---|---|---|---|---|---|---|---|
| 1 | AUPH | Aurinia Pharmaceuticals Inc. | Increased↑3Q | $181.2M | 10.08% | 8.0% | |
| 2 | CELC | Celcuity Inc. | $119.8M | 6.67% | 32.9% | ||
| 3 | MIRM | Mirum Pharmaceuticals Inc. | $114.2M | 6.35% | 14.1% | ||
| 4 | GLPGF | Galapagos NV | Decreased↓2Q | $113.6M | 6.32% | — | |
| 5 | CMPSOther Healthcare | COMPASS Pathways plc | Increased | $111.0M | 6.17% | 6.3% | |
| 6 | KNSA | Kiniksa Pharmaceuticals International, plc | $108.8M | 6.05% | 8.4% | ||
| 7 | CAPR | Capricor Therapeutics, Inc. | Increased↑2Q | $103.4M | 5.75% | 20.8% | |
| 8 | PTCT | PTC Therapeutics Inc. | $102.2M | 5.69% | 19.3% | ||
| 9 | SYRE | Spyre Therapeutics, Inc. | $95.4M | 5.31% | 15.6% | ||
| 10 | KALV | KalVista Pharmaceuticals, Inc. | $92.1M | 5.12% | 43.1% |
Share changes reflect active decisions. Value changes include price moves.
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Tang Capital Management held 46 biotech stocks in their 13F portfolio this quarter. Their top positions include AUPH, CELC, MIRM, GLPGF, CMPS. 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 $1.8B across 46 positions, with total assets under management of approximately $2B. Portfolio values are based on 13F filings with the SEC.
Tang Capital Management initiated 1 new position this quarter, including AGIO. They also increased 12 existing positions.
Tang Capital Management fully exited 181 positions this quarter, including VSTM, VIR, TRVI, OABI, TMUSL and 176 more. They also trimmed 14 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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