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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
+20.4%
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
$815M
AUM Growth
+$156M
Cap. Flow
+$82.1M
Cap. Flow %
10.06%
Top 10 Hldgs %
43.07%
Holding
100
New
33
Increased
19
Reduced
13
Closed
5

Top Buys

Rank Stock Value
1
ALNY icon
Alnylam Pharmaceuticals
ALNY
+$19.1M
2
ONC
BeOne Medicines Ltd
ONC
+$18M
3
TWTR
Twitter, Inc.
TWTR
+$12.2M
4
HRTX icon
Heron Therapeutics
HRTX
+$12.2M
5
INSM icon
Insmed
INSM
+$12M

Top Sells

Rank Stock Value
1
VERU icon
Veru
VERU
+$50.9M
2
LJPC
La Jolla Pharmaceutical Company
LJPC
+$30.6M
3
ALT icon
Altimmune
ALT
+$14.8M
4
ISPO
Inspirato
ISPO
+$9.41M
5
BCAB icon
BioAtla
BCAB
+$9.2M

Sector Composition

Rank Sector Weight
1 Healthcare 95.9%
2 Communication Services 1.61%
3 Consumer Discretionary 0.82%
4 Consumer Staples 0.38%
5 Financials 0.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
IONS icon
26
Ionis Pharmaceuticals
IONS
$9.4B
$8.85M 1.08%
200,000
– –
NKTX icon
27
Nkarta
NKTX
$172M
$8.72M 1.07%
662,872
+312,872
+89% +$4.48M
AZN icon
28
AstraZeneca
AZN
$250B
$8.23M 1.01%
+75,000
New +$9.51M
ALLK
29
DELISTED
Allakos
ALLK
$8.1M 0.99%
1,323,393
– –
DAWN
30
DELISTED
Day One Biopharmaceuticals
DAWN
$8.01M 0.98%
+400,000
New +$8.51M
CGEM icon
31
Cullinan Oncology
CGEM
$1.14B
$8M 0.98%
624,016
+14,785
+2% +$199K
RVNC
32
DELISTED
Revance Therapeutics, Inc.
RVNC
$7.76M 0.95%
+287,500
New +$5.83M
KNSA icon
33
Kiniksa Pharmaceuticals
KNSA
$5.93B
$7.7M 0.94%
600,000
– –
CHRS icon
34
Coherus Oncology
CHRS
$196M
$7.21M 0.88%
750,000
– –
IMGN
35
DELISTED
Immunogen Inc
IMGN
$7.17M 0.88%
1,500,000
– –
ENTA icon
36
Enanta Pharmaceuticals
ENTA
$400M
$7.14M 0.88%
137,700
– –
ASND icon
37
Ascendis Pharma A/S
ASND
$16.8B
$6.82M 0.84%
+66,090
New +$6.27M
TCRR
38
DELISTED
TCR2 Therapeutics Inc. Common Stock
TCRR
$6.74M 0.83%
3,741,606
+100,000
+3% +$290K
CNCE
39
DELISTED
Concert Pharmaceuticals, Inc.
CNCE
$6.72M 0.82%
+1,003,017
New +$6.08M
BBIO icon
40
BridgeBio Pharma
BBIO
$16.5B
$5.82M 0.71%
+585,424
New +$6.08M
RCUS icon
41
Arcus Biosciences
RCUS
$3.64B
$5.23M 0.64%
200,000
– –
CTMX icon
42
CytomX Therapeutics
CTMX
$754M
$5.08M 0.62%
3,500,000
+2,445,327
+232% +$3.76M
CLDX icon
43
Celldex Therapeutics
CLDX
$3.28B
$4.5M 0.55%
+160,219
New +$4.91M
GNFT
44
DELISTED
Genfit
GNFT
$4.37M 0.54%
1,197,522
-63,920
-5% -$267K
TSVT
45
DELISTED
2seventy bio
TSVT
$4.37M 0.54%
300,000
– –
BNTX icon
46
BioNTech
BNTX
$23.5B
$4.05M 0.5%
30,000
-10,000
-25% -$1.53M
BABA icon
47
Alibaba
BABA
$308B
$4M 0.49%
50,000
– –
OBIO icon
48
Orchestra BioMed
OBIO
$254M
$3.89M 0.48%
+392,500
New +$3.89M
ALDX icon
49
Aldeyra Therapeutics
ALDX
$93.5M
$3.74M 0.46%
+700,000
New +$4.2M
FBIO icon
50
Fortress Biotech
FBIO
$88.7M
$3.61M 0.44%
279,632
+56,779
+25% +$850K
1
2
3 4

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Tang Capital Management's Q3 2022 Portfolio in Review

As of Q3 2022, Tang Capital Management held 100 positions worth $815M, up 24% from $659M the previous quarter. Its ten largest holdings account for 43% of the portfolio.

Tang Capital Management deployed $82.1M of net new capital in Q3 2022, opening 33 new positions and adding to 19 existing holdings. Its largest new stake was Alnylam Pharmaceuticals: 100,000 shares worth $20M.

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

On the sell side, the largest reduction was Veru, an estimated $50.9M trimmed.

  • Tang Capital Management's largest Q3 2022 buy was Alnylam Pharmaceuticals: 100,000 shares worth $20M.
  • Tang Capital Management added most to Heron Therapeutics in Q3 2022, an estimated $12.2M increase.
  • Tang Capital Management's biggest Q3 2022 reduction was Veru, cutting an estimated $50.9M.
  • Tang Capital Management fully exited La Jolla Pharmaceutical Company in Q3 2022, selling an estimated $30.6M.
  • Tang Capital Management's ten largest holdings make up 43% of its $815M portfolio in Q3 2022.
  • Tang Capital Management opened 33 new positions and closed 5 in Q3 2022.
  • Tang Capital Management's portfolio value rose 24% quarter-over-quarter to $815M.

Based on Tang Capital Management's 13F filing for Q3 2022, filed 14 Nov 2022.