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TCM

Tang Capital Management Portfolio holdings

AUM $1.97B
1-Year Est. Return 125.1%
This Fund
S&P 500
This Quarter Est. Return
-17.37%
1 Year Est. Return
+125.1%
3 Year Est. Return
+474.48%
5 Year Est. Return
+595.08%
10 Year Est. Return
+2,831.44%
AUM
$712M
AUM Growth
-$125M
Cap. Flow
+$71.3M
Cap. Flow %
10.01%
Top 10 Hldgs %
91.51%
Holding
30
New
13
Increased
4
Reduced
2
Closed
5

Top Buys

Rank Stock Value
1
BIO icon
Bio-Rad Laboratories Class A
BIO
+$29.4M
2
LJPC
La Jolla Pharmaceutical Company
LJPC
+$19.8M
3
UTHR icon
United Therapeutics
UTHR
+$19.8M
4
SGMO
SANGAMO THERAPEUTICS INC
SGMO
+$15.1M
5
EGRX
Eagle Pharmaceuticals, Inc.
EGRX
+$12.8M

Top Sells

Rank Stock Value
1
HRTX icon
Heron Therapeutics
HRTX
+$39.9M
2
REGN icon
Regeneron Pharmaceuticals
REGN
+$16.9M
3
BMY icon
Bristol-Myers Squibb
BMY
+$7.18M
4
ISEE
IVERIC bio, Inc. Common Stock
ISEE
+$2.15M
5
NCNA
NuCana
NCNA
+$825K

Sector Composition

Rank Sector Weight
1 Healthcare 98.74%
2 Industrials 0.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BMY icon
26
Bristol-Myers Squibb
BMY
$132B
– –
-111,844
Closed -$7.18M
REGN icon
27
Regeneron Pharmaceuticals
REGN
$80.8B
– –
-45,000
Closed -$16.9M
ISEE
28
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
– –
-250,000
Closed -$2.15M
EIDX
29
DELISTED
Eidos Therapeutics, Inc. Common Stock
EIDX
– –
-3,783
Closed -$217K
BMY.RT
30
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
– –
-111,844
Closed -$337K
1
2

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RMCM
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FC
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SC
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Tang Capital Management's Q1 2020 Portfolio in Review

As of Q1 2020, Tang Capital Management held 30 positions worth $712M, down 15% from $837M the previous quarter. Its ten largest holdings account for 92% of the portfolio.

Tang Capital Management deployed $71.3M of net new capital in Q1 2020, opening 13 new positions and adding to 4 existing holdings. Its largest new stake was Bio-Rad Laboratories Class A: 80,000 shares worth $28M.

By sector, the portfolio is most concentrated in Healthcare at 99% of assets, down from 100% a quarter earlier, followed by Industrials.

On the sell side, the largest reduction was Heron Therapeutics, an estimated $39.9M trimmed.

  • Tang Capital Management's largest Q1 2020 buy was Bio-Rad Laboratories Class A: 80,000 shares worth $28M.
  • Tang Capital Management added most to La Jolla Pharmaceutical Company in Q1 2020, an estimated $19.8M increase.
  • Tang Capital Management's biggest Q1 2020 reduction was Heron Therapeutics, cutting an estimated $39.9M.
  • Tang Capital Management fully exited Regeneron Pharmaceuticals in Q1 2020, selling an estimated $16.9M.
  • Tang Capital Management's ten largest holdings make up 92% of its $712M portfolio in Q1 2020.
  • Tang Capital Management opened 13 new positions and closed 5 in Q1 2020.
  • Tang Capital Management's portfolio value fell 15% quarter-over-quarter to $712M.

Based on Tang Capital Management's 13F filing for Q1 2020, filed 15 May 2020.