TANG CAPITAL MANAGEMENT LLC
Follow13F filer, CIK 1232621, SAN DIEGO, CA
TANG CAPITAL MANAGEMENT LLC reported $2,024,360,609 across 75 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 52.91% of the portfolio.
Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-26-002015
- Period
- 2025-12-31
- Reported value
- $2.02B
- Holdings
- 75
- Top 10 weight
- 52.91%
- New
- 9
- Sold out
- 128
Part of the filer group TANG CAPITAL MANAGEMENT LLC
TANG KEVINTANG CAPITAL PARTNERS III, INC
- TANG KEVIN
- TANG CAPITAL PARTNERS III, INC
- TANG CAPITAL PARTNERS INTERNATIONAL, LP
- TANG CAPITAL PARTNERS IV, INC
- TANG CAPITAL PARTNERS, LP
Stakes and trades reported after 2025-12-31
13D, 13G and Form 4 filings by this filer's group, dated after the 13F period, on securities the quarter does not hold as shares.
- SKYE SKYE BIOSCIENCE INC: 13G 263,560 shares, 6% of the class, 13G filed 2026-10-14, 0001214659-26-012924Timeline
Accepted , ingested
Largest buys vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| RNAMnew | +900,000 | $64.9M |
| CAPRnew | +1,700,000 | $49.1M |
| SPYnew | +30,000 | $20.5M |
| BNTXadded | +200,000 | $19M |
| ANIPadded | +163,937 | $12.9M |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Largest sells vs the previous quarter
| Security | Shares change | Approx. value |
|---|---|---|
| TARSreduced | -1,266,173 | -$104M |
| MERUS N Vexited | -600,000 | -$56.5M |
| SYREreduced | -1,307,800 | -$42.8M |
| RLAYexited | -8,068,058 | -$42.1M |
| VERAexited | -1,350,000 | -$39.2M |
Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.
Back to all 75 share positions
Sold out in Q4 2025
Positions in the previous quarter's report that this quarter's report no longer lists.
| Security | Shares before | Value before | Type |
|---|---|---|---|
| MERUS N VMERUS N V | 600,000 | $56.5M | shares |
| RLAYRELAY THERAPEUTICS INC | 8,068,058 | $42.1M | shares |
| VERAVERA THERAPEUTICS INC | 1,350,000 | $39.2M | shares |
| NKENIKE INC | 519,399 | $36.2M | shares |
| IONSIONIS PHARMACEUTICALS INC | 550,000 | $36M | shares |
| CTMXCYTOMX THERAPEUTICS INC. | 11,065,662 | $35.3M | shares |
| AVADEL PHARMACEUTICALSAVADEL PHARMACEUTICALS | 2,097,500 | $32M | shares |
| LEGNLEGEND BIOTECH CORP | 830,000 | $27.1M | shares |
| LQDALIQUIDIA CORPORATION | 1,143,759 | $26M | shares |
| JAZZJAZZ PHARMACEUTICALS PLC | 190,000 | $25M | shares |
| KROSKEROS THERAPEUTICS INC | 1,418,984 | $22.4M | shares |
| NBIXNEUROCRINE BIOSCIENCES INC | 150,000 | $21.1M | shares |
| JANXJANUX THERAPEUTICS INC | 700,000 | $17.1M | shares |
| ADMAADMA BIOLOGICS INC | 1,050,000 | $15.4M | shares |
| REPLREPLIMUNE GROUP INC | 3,400,000 | $14.2M | shares |
| DSGNDESIGN THERAPEUTICS INC | 1,780,975 | $13.4M | shares |
| ABCLABCELLERA BIOLOGICS INC | 2,600,000 | $13.1M | shares |
| CMPSCOMPASS PATHWAYS PLC | 2,200,000 | $12.6M | shares |
| BABAALIBABA GROUP HLDG LTD | 70,000 | $12.5M | shares |
| VNDAVANDA PHARMACEUTICALS INC | 2,353,307 | $11.7M | shares |
| AZNASTRAZENECA PLC-SPONS ADR | 150,000 | $11.5M | shares |
| SMMTSUMMIT THERAPEUTICS INC | 550,000 | $11.4M | shares |
| HELPCYBIN INC | 1,830,097 | $10.8M | shares |
| WGSGENEDX HOLDINGS CORP | 100,000 | $10.8M | shares |
| IDXXIDEXX LABS INC | 16,000 | $10.2M | shares |
| BIOABIOAGE LABS INC | 1,600,000 | $9.41M | shares |
| BHCBAUSCH HEALTH COS INC | 1,300,000 | $8.38M | shares |
| APGEAPOGEE THERAPEUTICS INC | 200,000 | $7.95M | shares |
| BDTXBLACK DIAMOND THERAPEUTICS I | 2,070,209 | $7.85M | shares |
| LLYELI LILLY & CO | 10,000 | $7.63M | shares |
| MLYSMINERALYS THERAPEUTICS INC | 200,000 | $7.58M | shares |
| MIND MEDICINE MINDMED INCMIND MEDICINE MINDMED INC | 600,200 | $7.08M | shares |
| EWTXEDGEWISE THERAPEUTICS INC | 431,300 | $7M | shares |
| BLCOBAUSCH PLUS LOMB CORP | 444,467 | $6.7M | shares |
| ADICET BIO INCADICET BIO INC | 8,223,612 | $6.66M | shares |
| CGEMCULLINAN THERAPEUTICS INC | 1,121,138 | $6.65M | shares |
| CRSPCRISPR THERAPEUTICS AG | 100,000 | $6.48M | shares |
| BEAMBEAM THERAPEUTICS INC | 255,000 | $6.19M | shares |
| GMABGENMAB A/S | 200,000 | $6.13M | shares |
| PYXSPYXIS ONCOLOGY INC | 2,500,000 | $5.55M | shares |
| CYTKCYTOKINETICS INC | 100,000 | $5.5M | shares |
| CNTACENTESSA PHARMACEUTICALS PLC | 200,000 | $4.85M | shares |
| SNYSANOFI SA | 100,000 | $4.72M | shares |
| ALMSALUMIS INC | 1,167,009 | $4.66M | shares |
| TGTXTG THERAPEUTICS INC | 100,000 | $3.61M | shares |
| DTILPRECISION BIOSCIENCES INC | 653,649 | $3.61M | shares |
| CGONCG ONCOLOGY INC | 87,500 | $3.52M | shares |
| SLNOSOLENO THERAPEUTICS INC | 50,000 | $3.38M | shares |
| FENCFENNEC PHARMACEUTICALS INC | 334,593 | $3.13M | shares |
| SNDXSYNDAX PHARMACEUTICALS INC | 200,000 | $3.08M | shares |
| TSHATAYSHA GENE THERAPIES INC | 900,000 | $2.94M | shares |
| SEERSEER INC | 1,344,423 | $2.92M | shares |
| TECXTECTONIC THERAPEUTIC INC | 179,166 | $2.81M | shares |
| LNTHLANTHEUS HLDGS INC | 50,000 | $2.56M | shares |
| SUTRO BIOPHARMA INCSUTRO BIOPHARMA INC | 2,828,717 | $2.46M | shares |
| VORVOR BIOPHARMA INC | 50,000 | $2.44M | shares |
| KLRSKALARIS THERAPEUTICS INC | 418,241 | $2.42M | shares |
| MTDMETTLER TOLEDO INTERNATIONAL | 1,969 | $2.42M | shares |
| ZNTLZENTALIS PHARMACEUTICALS INC | 1,550,000 | $2.34M | shares |
| INTCINTEL CORP | 66,216 | $2.22M | shares |
| GOSSGOSSAMER BIO INC | 800,000 | $2.1M | shares |
| OPRXOPTIMIZERX CORP | 100,000 | $2.05M | shares |
| CLYMCLIMB BIO INC | 1,000,000 | $2.01M | shares |
| CCCCC4 THERAPEUTICS INC | 900,000 | $2M | shares |
| JPMJPMORGAN CHASE & CO | 6,312 | $1.99M | shares |
| MSFTMICROSOFT CORP | 3,546 | $1.84M | shares |
| WMTWALMART INC | 17,242 | $1.78M | shares |
| JNJJOHNSON & JOHNSON | 9,472 | $1.76M | shares |
| VVISA INC | 4,869 | $1.66M | shares |
| DISDISNEY WALT CO | 14,493 | $1.66M | shares |
| KODKODIAK SCIENCES INC | 100,000 | $1.64M | shares |
| BRK-BBERKSHIRE HATHAWAY INC DEL | 3,250 | $1.63M | shares |
| CGTXCOGNITION THERAPEUTICS INC | 1,200,000 | $1.62M | shares |
| CRBPCORBUS PHARMACEUTICALS HLDGS | 127,520 | $1.61M | shares |
| VZVERIZON COMMUNICATIONS INC | 36,266 | $1.59M | shares |
| ENTAENANTA PHARMACEUTICALS INC | 126,655 | $1.52M | shares |
| KOCOCA COLA CO | 22,712 | $1.51M | shares |
| HDHOME DEPOT INC | 3,646 | $1.48M | shares |
| CDNACAREDX INC | 100,000 | $1.45M | shares |
| XOMEXXON MOBIL CORP | 12,651 | $1.43M | shares |
| PGPROCTER & GAMBLE CO | 8,952 | $1.38M | shares |
| TXNTEXAS INSTRS INC | 7,415 | $1.36M | shares |
| AMLXAMYLYX PHARMACEUTICALS INC | 100,000 | $1.36M | shares |
| PFEPFIZER INC | 53,039 | $1.35M | shares |
| VTRSVIATRIS INC | 128,359 | $1.27M | shares |
| IOVAIOVANCE BIOTHERAPEUTICS INC | 543,760 | $1.18M | shares |
| PYPLPAYPAL HLDGS INC | 17,323 | $1.16M | shares |
| PBYIPUMA BIOTECHNOLOGY INC | 200,000 | $1.06M | shares |
| AATAMERICAN ASSETS TR INC | 50,000 | $1.02M | shares |
| BCABBIOATLA INC | 1,374,076 | $945K | shares |
| UNHUNITEDHEALTH GROUP INC | 2,721 | $940K | shares |
| GEGE AEROSPACE | 2,994 | $901K | shares |
| KURAKURA ONCOLOGY INC | 100,000 | $885K | shares |
| GEVGE VERNOVA INC | 1,378 | $847K | shares |
| FTREFORTREA HLDGS INC | 100,000 | $842K | shares |
| NFLXNETFLIX INC. | 683 | $819K | shares |
| ULTAULTA BEAUTY INC | 1,384 | $756K | shares |
| ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INC | 100,000 | $728K | shares |
| BABOEING CO | 3,225 | $696K | shares |
| AXPAMERICAN EXPRESS CO | 1,931 | $641K | shares |
| UALUNITED AIRLS HLDGS INC | 6,296 | $608K | shares |
| PASGPASSAGE BIO INC | 75,000 | $602K | shares |
| ALLALLSTATE CORP | 2,700 | $580K | shares |
| HPEHEWLETT PACKARD ENTERPRISE C | 23,563 | $579K | shares |
| AMZNAMAZON COM INC | 2,583 | $567K | shares |
| TMUST-MOBILE US INC | 2,285 | $547K | shares |
| LABSTANDARD BIOTOOLS INC | 407,755 | $530K | shares |
| MCDMCDONALDS CORP | 1,710 | $520K | shares |
| FFORD MTR CO | 43,381 | $519K | shares |
| SEESEALED AIR CORP NEW | 14,274 | $505K | shares |
| SHWSHERWIN WILLIAMS CO | 1,398 | $484K | shares |
| ATYRATYR PHARMA INC | 671,134 | $484K | shares |
| OABIOMNIAB INC | 300,000 | $480K | shares |
| CVXCHEVRON CORPORATION | 3,023 | $469K | shares |
| PAYXPAYCHEX INC | 3,542 | $449K | shares |
| IPSCCENTURY THERAPEUTICS INC | 900,000 | $448K | shares |
| IVVDINVIVYD INC | 400,000 | $440K | shares |
| HRLHORMEL FOODS CORP | 16,181 | $400K | shares |
| FDXFEDEX CORP | 1,693 | $399K | shares |
| CLXCLOROX CO DEL | 3,052 | $376K | shares |
| MGNXMACROGENICS INC | 218,856 | $368K | shares |
| BOLTBOLT BIOTHERAPEUTICS INC | 66,879 | $356K | shares |
| GHRSGH RESEARCH PLC | 24,030 | $344K | shares |
| WHRWHIRLPOOL CORP | 4,335 | $341K | shares |
| OKURONKURE THERAPEUTICS INC | 116,395 | $320K | shares |
| LONALEONABIO INC | 59,998 | $248K | shares |
| MGXMETAGENOMI THERAPEUTICS INC | 28,008 | $66.4K | shares |
| PACBPACIFIC BIOSCIENCES CALIF IN | 25,000 | $32K | shares |
How Q4 2025 was built
Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).
| Filing | Role | Amendment | Filed | Accepted | Ingested |
|---|---|---|---|---|---|
| 13F-HR 0001214659-26-002015 | base | 2026-02-17 | acceptance time not in the bulk data set |