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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
+2.99%
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
$671M
AUM Growth
-$17.2M
Cap. Flow
+$158M
Cap. Flow %
23.52%
Top 10 Hldgs %
38.66%
Holding
127
New
38
Increased
29
Reduced
15
Closed
24

Top Buys

Rank Stock Value
1
BLUE
bluebird bio
BLUE
+$30M
2
FRC
First Republic Bank
FRC
+$28.6M
3
EOLS icon
Evolus
EOLS
+$21.6M
4
NVO
Novo Nordisk
NVO
+$19.1M
5
ACET icon
Adicet Bio
ACET
+$15.1M

Top Sells

Rank Stock Value
1
ANAB icon
AnaptysBio
ANAB
+$14.5M
2
ALNY icon
Alnylam Pharmaceuticals
ALNY
+$12.6M
3
ALBO
Albireo Pharma Inc
ALBO
+$8.9M
4
HRTX icon
Heron Therapeutics
HRTX
+$8.03M
5
CNCE
Concert Pharmaceuticals, Inc.
CNCE
+$6.72M

Sector Composition

Rank Sector Weight
1 Healthcare 91.26%
2 Financials 6.75%
3 Real Estate 0.31%
4 Consumer Discretionary 0.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
COF icon
26
Capital One
COF
$134B
$9.62M 1.43%
+100,000
New +$10.5M
CTMX icon
27
CytomX Therapeutics
CTMX
$754M
$9.2M 1.37%
6,093,032
+2,582,587
+74% +$5.84M
ALNY icon
28
Alnylam Pharmaceuticals
ALNY
$29.3B
$9.01M 1.34%
45,000
-60,000
-57% -$12.6M
AMRN
29
Amarin Corp
AMRN
$303M
$8.1M 1.21%
+270,000
New +$9.47M
BIO icon
30
Bio-Rad Laboratories Class A
BIO
$9.42B
$7.66M 1.14%
16,000
-5,000
-24% -$2.34M
THRD
31
DELISTED
Third Harmonic Bio
THRD
$7.42M 1.11%
1,800,000
+100,000
+6% +$425K
IONS icon
32
Ionis Pharmaceuticals
IONS
$9.4B
$7.15M 1.07%
200,000
– –
BLPH
33
DELISTED
Bellerophon Therapeutics, Inc.
BLPH
$7.05M 1.05%
+893,974
New +$3.11M
KNSA icon
34
Kiniksa Pharmaceuticals
KNSA
$5.93B
$6.46M 0.96%
600,000
– –
NKTX icon
35
Nkarta
NKTX
$172M
$6.34M 0.94%
1,785,829
-84,171
-5% -$399K
CMA
36
DELISTED
Comerica
CMA
$5.8M 0.86%
+133,525
New +$8.56M
QNCX icon
37
Quince Therapeutics
QNCX
$29.5M
$5.65M 0.84%
+18,100
New +$3.54M
ENZ
38
DELISTED
Enzo Biochem, Inc.
ENZ
$5.59M 0.83%
+2,300,000
New +$3.42M
CGEM icon
39
Cullinan Oncology
CGEM
$1.14B
$5.12M 0.76%
500,000
-309,231
-38% -$3.41M
TCRR
40
DELISTED
TCR2 Therapeutics Inc. Common Stock
TCRR
$5.1M 0.76%
3,399,745
+660,798
+24% +$890K
GNFT
41
DELISTED
Genfit
GNFT
$4.97M 0.74%
1,212,515
+14,993
+1% +$64.3K
LENZ
42
LENZ Therapeutics
LENZ
$168M
$4.97M 0.74%
289,781
+132,638
+84% +$2.15M
IMGN
43
DELISTED
Immunogen Inc
IMGN
$4.9M 0.73%
1,274,853
– –
DNTH icon
44
Dianthus Therapeutics
DNTH
$6.09B
$4.81M 0.72%
+378,125
New +$4.19M
C icon
45
Citigroup
C
$226B
$4.69M 0.7%
+100,000
New +$4.91M
FATE icon
46
Fate Therapeutics
FATE
$326M
$3.99M 0.59%
+700,000
New +$4.22M
FRC
47
DELISTED
First Republic Bank
FRC
$3.9M 0.58%
+278,759
New +$28.6M
ENTA icon
48
Enanta Pharmaceuticals
ENTA
$400M
$3.64M 0.54%
90,000
-110,000
-55% -$5.25M
LKFT
49
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.77B
$3.46M 0.52%
89,650
-25,300
-22% -$1.04M
AVIR icon
50
Atea Pharmaceuticals
AVIR
$420M
$3.36M 0.5%
+1,002,582
New +$4.07M
1
2
3 4 5

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Tang Capital Management's Q1 2023 Portfolio in Review

As of Q1 2023, Tang Capital Management held 127 positions worth $671M, down 2.5% from $688M the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Tang Capital Management deployed $158M of net new capital in Q1 2023, opening 38 new positions and adding to 29 existing holdings. Its largest new stake was First Republic Bank: 278,759 shares worth $3.9M.

By sector, the portfolio is most concentrated in Healthcare at 91% of assets, down from 98% a quarter earlier, followed by Financials and Real Estate.

On the sell side, the largest reduction was AnaptysBio, an estimated $14.5M trimmed.

  • Tang Capital Management's largest Q1 2023 buy was First Republic Bank: 278,759 shares worth $3.9M.
  • Tang Capital Management added most to bluebird bio in Q1 2023, an estimated $30M increase.
  • Tang Capital Management's biggest Q1 2023 reduction was AnaptysBio, cutting an estimated $14.5M.
  • Tang Capital Management fully exited Albireo Pharma Inc in Q1 2023, selling an estimated $8.9M.
  • Tang Capital Management's ten largest holdings make up 39% of its $671M portfolio in Q1 2023.
  • Tang Capital Management opened 38 new positions and closed 24 in Q1 2023.
  • Tang Capital Management's portfolio value fell 2.5% quarter-over-quarter to $671M.

Based on Tang Capital Management's 13F filing for Q1 2023, filed 15 May 2023.