TANG CAPITAL MANAGEMENT LLC
Q3 2025 13F-HR Holdings
Net value change ($000)
+619,462
(31.3%)
New positions
12
Sold out positions
18
Turnover %
8.8%
Sector allocation + QoQ delta (equities-only)
Holdings aggregated across other managers listed in the original SEC filing. View detailed breakdown
Snapshot: Change Analysis
Compared to Q2 2025
Methodology:
sector metrics are equities-only;
instrument mix chart is ex-options;
options exposure is shown separately.
Why this matters.
Top Adds (Value $000, Stocks/ETFs)
| CELC | 56,810 | NEW |
| TARS | 46,445 | 46.7% |
| PGEN | 40,796 | NEW |
| AUPH | 40,241 | 47.4% |
| PTCT | 38,331 | 71.3% |
| NKE | 34,840 | 2528.3% |
| GLPG | 32,114 | 28.8% |
| IONS | 30,054 | 507.1% |
| MIRM | 27,712 | 44.1% |
| VRTX | 26,879 | 603.8% |
Top Reduces (Value $000, Stocks/ETFs)
| iTeos Therapeutics, Inc. | -38,152 | -100.0% |
| BA | -21,443 | -96.9% |
| MTD | -20,490 | -89.4% |
| REPL | -15,482 | -52.1% |
| CRGX | -12,606 | -100.0% |
| EOLS | -12,328 | -26.8% |
| ELAN | -11,425 | -100.0% |
| HilleVax, Inc. | -9,791 | -100.0% |
| EPIX | -7,310 | -100.0% |
| Third Harmonic Bio, Inc. | -5,048 | -100.0% |
Instrument mix + QoQ Δ (ex-options)
How this table is calculated:
SEC
VALUE ($000) is used as reported.
For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received.
Column % is bucket-based:
non-options share is calculated inside non-option total, options share is calculated inside options total.
Details.
Filter:
Instrument:
| Issuer Name | Ticker | Sector | Industry | Class | History | Value ($000) | % | Shares | Shares Δ | Shares Δ% | Value Δ ($000) | Value Δ% | Principal | Option Type |
|---|