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TCM

Tang Capital Management Portfolio holdings

AUM $2.2B
1-Year Est. Return 156.35%
This Fund
S&P 500
This Quarter Est. Return
+3.47%
1 Year Est. Return
+156.35%
3 Year Est. Return
+492.92%
5 Year Est. Return
+804.3%
10 Year Est. Return
+3,997.35%
AUM
$659M
AUM Growth
+$159M
Cap. Flow
+$247M
Cap. Flow %
37.54%
Top 10 Hldgs %
55.02%
Holding
72
New
19
Increased
18
Reduced
1
Closed
5

Top Buys

Rank Stock Value
1
VERU icon
Veru
VERU
+$53.7M
2
BHVN
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
+$35.8M
3
TARS icon
Tarsus Pharmaceuticals
TARS
+$26.8M
4
BLUE
bluebird bio
BLUE
+$16.9M
5
ISPO
Inspirato
ISPO
+$13.3M

Top Sells

Rank Stock Value
1
SRRA
Sierra Oncology, Inc. Common Stock
SRRA
+$9.62M
2
BRCC.WS
BRC Inc. Redeemable Warrants, each whole warrant exercisable for one share of Class A common stock a
BRCC.WS
+$3.6M
3
SKYH.WS icon
Sky Harbour Group Warrants
SKYH.WS
+$694K
4
ISPOW
Inspirato Inc Warrant
ISPOW
+$213K

Sector Composition

Rank Sector Weight
1 Healthcare 96.12%
2 Consumer Discretionary 3.54%
3 Financials 0.22%
4 Miscellaneous 0.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ENTA icon
26
Enanta Pharmaceuticals
ENTA
$368M
$6.51M 0.99%
137,700
+37,700
+38% +$2.05M
BNTX icon
27
BioNTech
BNTX
$24.3B
$5.96M 0.91%
40,000
– –
KNSA icon
28
Kiniksa Pharmaceuticals
KNSA
$5.99B
$5.81M 0.88%
600,000
+100,000
+20% +$933K
BABA icon
29
Alibaba
BABA
$269B
$5.68M 0.86%
+50,000
New +$4.9M
BLU
30
DELISTED
BELLUS Health Inc.
BLU
$5.54M 0.84%
600,000
– –
CHRS icon
31
Coherus Oncology
CHRS
$196M
$5.43M 0.82%
750,000
– –
RCUS icon
32
Arcus Biosciences
RCUS
$3.17B
$5.07M 0.77%
200,000
– –
VRDN icon
33
Viridian Therapeutics
VRDN
$2.47B
$4.63M 0.7%
+400,000
New +$5.38M
NKTX icon
34
Nkarta
NKTX
$206M
$4.31M 0.65%
350,000
+150,000
+75% +$1.97M
ALLK
35
DELISTED
Allakos
ALLK
$4.14M 0.63%
1,323,393
– –
GNFT
36
DELISTED
Genfit
GNFT
$4.06M 0.62%
1,261,442
+90,081
+8% +$325K
TSVT
37
DELISTED
2seventy bio
TSVT
$3.96M 0.6%
300,000
– –
PYXS icon
38
Pyxis Oncology
PYXS
$278M
$3.28M 0.5%
+1,379,080
New +$3.67M
CRVS icon
39
Corvus Pharmaceuticals
CRVS
$1.05B
$3.27M 0.5%
3,301,709
+200,000
+6% +$245K
ATYR
40
aTyr Pharma
ATYR
$37.4M
$3.15M 0.48%
1,113,453
– –
DCFC
41
DELISTED
Tritium DCFC Limited Ordinary Shares
DCFC
$3.04M 0.46%
2,500
+1,879
+303% +$3.09M
LENZ
42
LENZ Therapeutics
LENZ
$132M
$3.02M 0.46%
+157,143
New +$3.5M
ANIP icon
43
ANI Pharmaceuticals
ANIP
$1.68B
$2.97M 0.45%
100,000
– –
FBIO icon
44
Fortress Biotech
FBIO
$81.7M
$2.81M 0.43%
222,853
+66,186
+42% +$981K
VNDA icon
45
Vanda Pharmaceuticals
VNDA
$300M
$2.8M 0.42%
256,696
– –
LEGN icon
46
Legend Biotech
LEGN
$3.33B
$2.75M 0.42%
50,000
– –
ASLN
47
DELISTED
ASLAN Pharmaceuticals Limited American Depositary Shares
ASLN
$2.75M 0.42%
138,873
+56,720
+69% +$1.26M
TCRX icon
48
TScan Therapeutics
TCRX
$22.5M
$2.35M 0.36%
747,800
+547,800
+274% +$1.5M
TNGX icon
49
Tango Therapeutics
TNGX
$4.02B
$2.12M 0.32%
468,750
– –
MIRM icon
50
Mirum Pharmaceuticals
MIRM
$6.37B
$1.95M 0.3%
+100,000
New +$2.36M
1
2
3

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Tang Capital Management's Q2 2022 Portfolio in Review

As of Q2 2022, Tang Capital Management held 72 positions worth $659M, up 32% from $500M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Tang Capital Management deployed $247M of net new capital in Q2 2022, opening 19 new positions and adding to 18 existing holdings. Its largest new stake was Veru: 463,034 shares worth $52.3M.

By sector, the portfolio is most concentrated in Healthcare at 96% of assets, up from 95% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was Inspirato Inc Warrant, an estimated $213K trimmed.

  • Tang Capital Management's largest Q2 2022 buy was Veru: 463,034 shares worth $52.3M.
  • Tang Capital Management added most to Tarsus Pharmaceuticals in Q2 2022, an estimated $26.8M increase.
  • Tang Capital Management's biggest Q2 2022 reduction was Inspirato Inc Warrant, cutting an estimated $213K.
  • Tang Capital Management fully exited Sierra Oncology, Inc. Common Stock in Q2 2022, selling an estimated $9.62M.
  • Tang Capital Management's ten largest holdings make up 55% of its $659M portfolio in Q2 2022.
  • Tang Capital Management opened 19 new positions and closed 5 in Q2 2022.
  • Tang Capital Management's portfolio value rose 32% quarter-over-quarter to $659M.

Based on Tang Capital Management's 13F filing for Q2 2022, filed 15 Aug 2022.