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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
+47.97%
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
$1.08B
AUM Growth
+$374M
Cap. Flow
+$212M
Cap. Flow %
19.62%
Top 10 Hldgs %
41.77%
Holding
136
New
30
Increased
24
Reduced
21
Closed
13

Top Buys

Rank Stock Value
1
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$77.5M
2
LIAN
LianBio American Depositary Shares
LIAN
+$26M
3
OKUR
OnKure Therapeutics
OKUR
+$20.8M
4
PTCT icon
PTC Therapeutics
PTCT
+$20.6M
5
VTYX
Ventyx Biosciences
VTYX
+$19M

Top Sells

Rank Stock Value
1
EQRX
EQRx, Inc. Common Stock
EQRX
+$22.4M
2
THRD
Third Harmonic Bio
THRD
+$11.5M
3
NVCR icon
NovoCure
NVCR
+$7.95M
4
BLUE
bluebird bio
BLUE
+$7.87M
5
BCRX icon
BioCryst Pharmaceuticals
BCRX
+$5.79M

Sector Composition

Rank Sector Weight
1 Healthcare 95.77%
2 Financials 3.5%
3 Real Estate 0.65%
4 Technology 0.08%
5 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ZYME icon
26
Zymeworks
ZYME
$1.67B
$11.4M 1.06%
1,100,000
– –
GSK icon
27
GSK
GSK
$106B
$11.1M 1.03%
+300,000
New +$10.8M
KNSA icon
28
Kiniksa Pharmaceuticals
KNSA
$5.93B
$10.5M 0.97%
600,000
– –
CTMX icon
29
CytomX Therapeutics
CTMX
$754M
$10.2M 0.94%
6,550,000
+100,000
+2% +$131K
IONS icon
30
Ionis Pharmaceuticals
IONS
$9.4B
$10.1M 0.93%
200,000
– –
BEAM icon
31
Beam Therapeutics
BEAM
$2.84B
$9.53M 0.88%
+350,000
New +$8.69M
CYTK icon
32
Cytokinetics
CYTK
$10.4B
$9.18M 0.85%
+110,000
New +$3.98M
ASND icon
33
Ascendis Pharma A/S
ASND
$16.8B
$8.82M 0.81%
70,000
+60,000
+600% +$5.98M
HRMY icon
34
Harmony Biosciences
HRMY
$2.24B
$8.76M 0.81%
271,200
– –
CBAY
35
DELISTED
Cymabay Therapeutics
CBAY
$8.27M 0.76%
350,000
+150,000
+75% +$2.67M
IOVA icon
36
Iovance Biotherapeutics
IOVA
$2.87B
$8.13M 0.75%
+1,000,000
New +$5.23M
CGEM icon
37
Cullinan Oncology
CGEM
$1.14B
$7.86M 0.73%
771,138
+150,000
+24% +$1.33M
MRNA icon
38
Moderna
MRNA
$23.6B
$7.63M 0.7%
76,700
– –
RCKT icon
39
Rocket Pharmaceuticals
RCKT
$394M
$7.49M 0.69%
250,000
+100,000
+67% +$2.21M
LENZ
40
LENZ Therapeutics
LENZ
$168M
$6.53M 0.6%
355,969
+67,880
+24% +$1.12M
BCAB icon
41
BioAtla
BCAB
$5.74M
$6.21M 0.57%
50,482
-25,086
-33% -$2.17M
KNTE
42
DELISTED
Kinnate Biopharma Inc. Common Stock
KNTE
$6.17M 0.57%
+2,601,647
New +$4.61M
ADMA icon
43
ADMA Biologics
ADMA
$2.22B
$6.15M 0.57%
1,360,000
– –
NTLA icon
44
Intellia Therapeutics
NTLA
$1.67B
$6.1M 0.56%
200,000
-197,600
-50% -$5.68M
CVBF icon
45
CVB Financial
CVBF
$3.99B
$6.06M 0.56%
300,000
+100,000
+50% +$1.77M
VSTM icon
46
Verastem
VSTM
$610M
$6.04M 0.56%
741,514
-150,000
-17% -$1.08M
BHVN icon
47
Biohaven
BHVN
$2.21B
$5.99M 0.55%
140,000
– –
EQC
48
DELISTED
Equity Commonwealth
EQC
$5.76M 0.53%
300,000
– –
ESPR
49
DELISTED
Esperion Therapeutics
ESPR
$5.53M 0.51%
1,850,000
– –
OKUR
50
OnKure Therapeutics
OKUR
$168M
$5.33M 0.49%
+333,000
New +$20.8M
1
2
3 4 5

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Tang Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Tang Capital Management held 136 positions worth $1.08B, up 53% from $709M the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Tang Capital Management deployed $212M of net new capital in Q4 2023, opening 30 new positions and adding to 24 existing holdings. Its largest new stake was OnKure Therapeutics: 333,000 shares worth $5.33M.

By sector, the portfolio is most concentrated in Healthcare at 96% of assets, up from 94% a quarter earlier, followed by Financials and Real Estate.

On the sell side, the largest reduction was bluebird bio, an estimated $7.87M trimmed.

  • Tang Capital Management's largest Q4 2023 buy was OnKure Therapeutics: 333,000 shares worth $5.33M.
  • Tang Capital Management added most to Mirati Therapeutics, Inc. Common Stock in Q4 2023, an estimated $77.5M increase.
  • Tang Capital Management's biggest Q4 2023 reduction was bluebird bio, cutting an estimated $7.87M.
  • Tang Capital Management fully exited EQRx, Inc. Common Stock in Q4 2023, selling an estimated $22.4M.
  • Tang Capital Management's ten largest holdings make up 42% of its $1.08B portfolio in Q4 2023.
  • Tang Capital Management opened 30 new positions and closed 13 in Q4 2023.
  • Tang Capital Management's portfolio value rose 53% quarter-over-quarter to $1.08B.

Based on Tang Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.