Filed: 8/14/2025ACC: 0001214659-25-012272
📋 What this filing means
TANG CAPITAL MANAGEMENT LLC filed this quarterly 13F‑HR report disclosing 200 equity positions with a total reported market value of $1.98B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
200
Positions
$1.98B
Total AUM (reported)
223.98M
Total Shares
Allocation by class
COM$1.34B67.5%
COM NEW$142.00M7.2%
SPON ADR$111.68M5.6%
SPONSORED ADS$74.57M3.8%
ADS$66.07M3.3%
ORD SHS CL A$64.43M3.3%
CL A$51.00M2.6%
Portfolio Concentration
Top 3$296.08M15.0%
4–10$396.93M20.1%
11–25$450.57M22.8%
Rest$834.81M42.2%
Top 3 weight
15.0%
Top 10 weight
35.0%
Voting Authority Distribution
Total shares with voting rights: 223.98M
Sole
Full voting authority
0.00
shares
% of voting shares0.0%
Shared
Joint voting authority
223.98M
shares
% of voting shares100.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole0
Shared0
Other200
Dominant voting typeShared · 100.0% of voting shares
Institutional Holdings200
Rows:
GALAPAGOS NV
OTRShares3.99M
TypeSH
Market value$111.68M
5.65%
Sole
0.00
Shared
3.99M
None
0.00
TARSUS PHARMACEUTICALS INC
OTRShares2.45M
TypeSH
Market value$99.44M
5.03%
Sole
0.00
Shared
2.45M
None
0.00
AURINIA PHARMACEUTICALS INC
OTRShares10.03M
TypeSH
Market value$84.95M
4.29%
Sole
0.00
Shared
10.03M
None
0.00
IMMUNOCORE HLDGS PLC
OTRShares2.11M
TypeSH
Market value$66.07M
3.34%
Sole
0.00
Shared
2.11M
None
0.00
KINIKSA PHARMACEUTICALS INTL
OTRShares2.33M
TypeSH
Market value$64.43M
3.26%
Sole
0.00
Shared
2.33M
None
0.00
MIRUM PHARMACEUTICALS INC
OTRShares1.24M
TypeSH
Market value$62.90M
3.18%
Sole
0.00
Shared
1.24M
None
0.00
KALVISTA PHARMACEUTICALS INC
OTRShares4.94M
TypeSH
Market value$55.87M
2.82%
Sole
0.00
Shared
4.94M
None
0.00
PTC THERAPEUTICS INC
OTRShares1.10M
TypeSH
Market value$53.72M
2.72%
Sole
0.00
Shared
1.10M
None
0.00
SPYRE THERAPEUTICS INC
OTRShares3.20M
TypeSH
Market value$47.90M
2.42%
Sole
0.00
Shared
3.20M
None
0.00
EVOLUS INC
OTRShares5M
TypeSH
Market value$46.03M
2.33%
Sole
0.00
Shared
5M
None
0.00
VIRIDIAN THERAPEUTICS INC
OTRShares2.84M
TypeSH
Market value$39.74M
2.01%
Sole
0.00
Shared
2.84M
None
0.00
ITEOS THERAPEUTICS INC
OTRShares3.83M
TypeSH
Market value$38.15M
1.93%
Sole
0.00
Shared
3.83M
None
0.00
COMPASS THERAPEUTICS INC
OTRShares13.50M
TypeSH
Market value$35.09M
1.77%
Sole
0.00
Shared
13.50M
None
0.00
ACADIA PHARMACEUTICALS INC
OTRShares1.50M
TypeSH
Market value$32.35M
1.64%
Sole
0.00
Shared
1.50M
None
0.00
VERA THERAPEUTICS INC CL A
OTRShares1.35M
TypeSH
Market value$31.81M
1.61%
Sole
0.00
Shared
1.35M
None
0.00
MERUS N V
OTRShares600K
TypeSH
Market value$31.56M
1.60%
Sole
0.00
Shared
600K
None
0.00
REPLIMUNE GROUP INC
OTRShares3.20M
TypeSH
Market value$29.73M
1.50%
Sole
0.00
Shared
3.20M
None
0.00
ANAPTYSBIO INC
OTRShares1.33M
TypeSH
Market value$29.55M
1.49%
Sole
0.00
Shared
1.33M
None
0.00
LEGEND BIOTECH CORP
OTRShares830K
TypeSH
Market value$29.46M
1.49%
Sole
0.00
Shared
830K
None
0.00
BIONTECH SE
OTRShares270K
TypeSH
Market value$28.75M
1.45%
Sole
0.00
Shared
270K
None
0.00
RELAY THERAPEUTICS INC
OTRShares8.07M
TypeSH
Market value$27.92M
1.41%
Sole
0.00
Shared
8.07M
None
0.00
LENZ THERAPEUTICS INC
OTRShares897.62K
TypeSH
Market value$26.31M
1.33%
Sole
0.00
Shared
897.62K
None
0.00
CYTOMX THERAPEUTICS INC
OTRShares11.07M
TypeSH
Market value$25.12M
1.27%
Sole
0.00
Shared
11.07M
None
0.00
METTLER-TOLEDO INTERNATIONAL
OTRShares19.50K
TypeSH
Market value$22.91M
1.16%
Sole
0.00
Shared
19.50K
None
0.00
BOEING CO
OTRShares105.66K
TypeSH
Market value$22.14M
1.12%
Sole
0.00
Shared
105.66K
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
GALAPAGOS NVOTR | SPON ADR | 3.99M | SH | $111.68M 5.65% | 0.00 | 3.99M | 0.00 |
TARSUS PHARMACEUTICALS INCOTR | COM | 2.45M | SH | $99.44M 5.03% | 0.00 | 2.45M | 0.00 |
AURINIA PHARMACEUTICALS INCOTR | COM | 10.03M | SH | $84.95M 4.29% | 0.00 | 10.03M | 0.00 |
IMMUNOCORE HLDGS PLCOTR | ADS | 2.11M | SH | $66.07M 3.34% | 0.00 | 2.11M | 0.00 |
KINIKSA PHARMACEUTICALS INTLOTR | ORD SHS CL A | 2.33M | SH | $64.43M 3.26% | 0.00 | 2.33M | 0.00 |
MIRUM PHARMACEUTICALS INCOTR | COM | 1.24M | SH | $62.90M 3.18% | 0.00 | 1.24M | 0.00 |
KALVISTA PHARMACEUTICALS INCOTR | COM | 4.94M | SH | $55.87M 2.82% | 0.00 | 4.94M | 0.00 |
PTC THERAPEUTICS INCOTR | COM | 1.10M | SH | $53.72M 2.72% | 0.00 | 1.10M | 0.00 |
SPYRE THERAPEUTICS INCOTR | COM NEW | 3.20M | SH | $47.90M 2.42% | 0.00 | 3.20M | 0.00 |
EVOLUS INCOTR | COM | 5M | SH | $46.03M 2.33% | 0.00 | 5M | 0.00 |
VIRIDIAN THERAPEUTICS INCOTR | COM | 2.84M | SH | $39.74M 2.01% | 0.00 | 2.84M | 0.00 |
ITEOS THERAPEUTICS INCOTR | COM | 3.83M | SH | $38.15M 1.93% | 0.00 | 3.83M | 0.00 |
COMPASS THERAPEUTICS INCOTR | COM | 13.50M | SH | $35.09M 1.77% | 0.00 | 13.50M | 0.00 |
ACADIA PHARMACEUTICALS INCOTR | COM | 1.50M | SH | $32.35M 1.64% | 0.00 | 1.50M | 0.00 |
VERA THERAPEUTICS INC CL AOTR | CL A | 1.35M | SH | $31.81M 1.61% | 0.00 | 1.35M | 0.00 |
MERUS N VOTR | COM | 600K | SH | $31.56M 1.60% | 0.00 | 600K | 0.00 |
REPLIMUNE GROUP INCOTR | COM | 3.20M | SH | $29.73M 1.50% | 0.00 | 3.20M | 0.00 |
ANAPTYSBIO INCOTR | COM | 1.33M | SH | $29.55M 1.49% | 0.00 | 1.33M | 0.00 |
LEGEND BIOTECH CORPOTR | SPONSORED ADS | 830K | SH | $29.46M 1.49% | 0.00 | 830K | 0.00 |
BIONTECH SEOTR | SPONSORED ADS | 270K | SH | $28.75M 1.45% | 0.00 | 270K | 0.00 |
RELAY THERAPEUTICS INCOTR | COM | 8.07M | SH | $27.92M 1.41% | 0.00 | 8.07M | 0.00 |
LENZ THERAPEUTICS INCOTR | COM | 897.62K | SH | $26.31M 1.33% | 0.00 | 897.62K | 0.00 |
CYTOMX THERAPEUTICS INCOTR | COM | 11.07M | SH | $25.12M 1.27% | 0.00 | 11.07M | 0.00 |
METTLER-TOLEDO INTERNATIONALOTR | COM | 19.50K | SH | $22.91M 1.16% | 0.00 | 19.50K | 0.00 |
BOEING COOTR | COM | 105.66K | SH | $22.14M 1.12% | 0.00 | 105.66K | 0.00 |
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