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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
-14.55%
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
$500M
AUM Growth
+$2.67M
Cap. Flow
+$135M
Cap. Flow %
26.95%
Top 10 Hldgs %
57.76%
Holding
60
New
31
Increased
5
Reduced
6
Closed
7

Top Buys

Rank Stock Value
1
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$36.4M
2
BIO icon
Bio-Rad Laboratories Class A
BIO
+$24.1M
3
LKFT
Lakefront Biotherapeutics American Depositary Shares
LKFT
+$15.3M
4
ISPO
Inspirato
ISPO
+$15M
5
ALBO
Albireo Pharma Inc
ALBO
+$13.7M

Top Sells

Rank Stock Value
1
HRTX icon
Heron Therapeutics
HRTX
+$29.7M
2
RCKT icon
Rocket Pharmaceuticals
RCKT
+$21.9M
3
CCXI
ChemoCentryx, Inc.
CCXI
+$18.2M
4
ODT
Odonate Therapeutics, Inc. Common Stock
ODT
+$17.2M
5
ANIP icon
ANI Pharmaceuticals
ANIP
+$7.46M

Sector Composition

Rank Sector Weight
1 Healthcare 95.05%
2 Consumer Discretionary 1.95%
3 Financials 0.44%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BCAB icon
26
BioAtla
BCAB
$5.74M
$5.5M 1.1%
22,000
+16,042
+269% +$6.71M
TSVT
27
DELISTED
2seventy bio
TSVT
$5.12M 1.02%
+300,000
New +$5.09M
CRVS icon
28
Corvus Pharmaceuticals
CRVS
$1.17B
$5.09M 1.02%
3,101,709
– –
TARS icon
29
Tarsus Pharmaceuticals
TARS
$2.84B
$5.05M 1.01%
+300,000
New +$5.57M
KNSA icon
30
Kiniksa Pharmaceuticals
KNSA
$5.93B
$4.97M 0.99%
+500,000
New +$5.3M
GNFT
31
DELISTED
Genfit
GNFT
$4.68M 0.94%
1,171,361
+115,367
+11% +$472K
BLU
32
DELISTED
BELLUS Health Inc.
BLU
$4.13M 0.83%
600,000
-600,000
-50% -$3.86M
VINC
33
DELISTED
Vincerx Pharma, Inc. Common Stock
VINC
$4.12M 0.82%
51,532
– –
BRCC.WS
34
DELISTED
BRC Inc. Redeemable Warrants, each whole warrant exercisable for one share of Class A common stock a
BRCC.WS
$3.6M 0.72%
+805,900
New +$2.56M
TNGX icon
35
Tango Therapeutics
TNGX
$4.41B
$3.55M 0.71%
468,750
– –
FBIO icon
36
Fortress Biotech
FBIO
$88.7M
$3.2M 0.64%
+156,667
New +$4.29M
ASLN
37
DELISTED
ASLAN Pharmaceuticals Limited American Depositary Shares
ASLN
$2.96M 0.59%
82,153
+30,780
+60% +$1.14M
RVPH
38
DELISTED
REVIVA PHARMA HLDGS INC
RVPH
$2.95M 0.59%
60,000
– –
NKTR icon
39
CALL
Nektar Therapeutics
NKTR
$2.58B
$2.91M 0.58%
+35,973
New +$5.32M
NKTR icon
40
PUT
Nektar Therapeutics
NKTR
$2.58B
$2.91M 0.58%
+35,973
New +$5.32M
VNDA icon
41
Vanda Pharmaceuticals
VNDA
$302M
$2.9M 0.58%
+256,696
New +$3.37M
ANIP icon
42
ANI Pharmaceuticals
ANIP
$1.78B
$2.81M 0.56%
100,000
-200,000
-67% -$7.46M
ISPOW
43
DELISTED
Inspirato Inc Warrant
ISPOW
$2.72M 0.54%
+1,400,000
New +$1.69M
NKTR icon
44
Nektar Therapeutics
NKTR
$2.58B
$2.32M 0.46%
+28,669
New +$4.24M
NKTX icon
45
Nkarta
NKTX
$172M
$2.28M 0.46%
+200,000
New +$2.14M
CYPH
46
Cypherpunk Technologies Inc
CYPH
$73.3M
$2.19M 0.44%
125,000
-125,000
-50% -$2.67M
EQ icon
47
Equillium
EQ
$133M
$1.89M 0.38%
600,000
– –
LEGN icon
48
Legend Biotech
LEGN
$4.01B
$1.82M 0.36%
50,000
-150,000
-75% -$5.93M
ALEC icon
49
Alector
ALEC
$199M
$1.43M 0.29%
+100,000
New +$1.58M
DCFC
50
DELISTED
Tritium DCFC Limited Ordinary Shares
DCFC
$1.25M 0.25%
+621
New +$1.03M
1
2
3

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RMCM
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FC
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SC
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BC
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FFH
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Tang Capital Management's Q1 2022 Portfolio in Review

As of Q1 2022, Tang Capital Management held 60 positions worth $500M, up 0.54% from $497M the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Tang Capital Management deployed $135M of net new capital in Q1 2022, opening 31 new positions and adding to 5 existing holdings. Its largest new stake was Intra-Cellular Therapies Inc.: 700,000 shares worth $42.8M.

By sector, the portfolio is most concentrated in Healthcare at 95% of assets, up from 94% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was Heron Therapeutics, an estimated $29.7M trimmed.

  • Tang Capital Management's largest Q1 2022 buy was Intra-Cellular Therapies Inc.: 700,000 shares worth $42.8M.
  • Tang Capital Management added most to Altimmune in Q1 2022, an estimated $7.17M increase.
  • Tang Capital Management's biggest Q1 2022 reduction was Heron Therapeutics, cutting an estimated $29.7M.
  • Tang Capital Management fully exited ChemoCentryx, Inc. in Q1 2022, selling an estimated $18.2M.
  • Tang Capital Management's ten largest holdings make up 58% of its $500M portfolio in Q1 2022.
  • Tang Capital Management opened 31 new positions and closed 7 in Q1 2022.
  • Tang Capital Management's portfolio value rose 0.54% quarter-over-quarter to $500M.

Based on Tang Capital Management's 13F filing for Q1 2022, filed 16 May 2022.