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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
+46.64%
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
$960M
AUM Growth
-$122M
Cap. Flow
-$259M
Cap. Flow %
-26.95%
Top 10 Hldgs %
38.43%
Holding
146
New
23
Increased
19
Reduced
38
Closed
47

Top Buys

Rank Stock Value
1
INBX
Inhibrx, Inc. Common Stock
INBX
+$25.5M
2
IMNM icon
Immunome
IMNM
+$14.6M
3
ACET icon
Adicet Bio
ACET
+$14.3M
4
EOLS icon
Evolus
EOLS
+$13.6M
5
OTLK icon
Outlook Therapeutics
OTLK
+$13.1M

Top Sells

Rank Stock Value
1
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$91.5M
2
IMGN
Immunogen Inc
IMGN
+$65.2M
3
LIAN
LianBio American Depositary Shares
LIAN
+$41.9M
4
AXSM icon
Axsome Therapeutics
AXSM
+$25.5M
5
GRCL
Gracell Biotechnologies Inc. American Depositary Shares
GRCL
+$22M

Sector Composition

Rank Sector Weight
1 Healthcare 98.03%
2 Technology 0.94%
3 Communication Services 0.51%
4 Real Estate 0.32%
5 Financials 0.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VRDN icon
26
Viridian Therapeutics
VRDN
$2.67B
$12.1M 1.26%
692,925
– –
ZYME icon
27
Zymeworks
ZYME
$1.67B
$11.6M 1.2%
1,100,000
– –
CRGX
28
DELISTED
CARGO Therapeutics
CRGX
$10.4M 1.08%
466,809
+306,265
+191% +$7.29M
ITCI
29
DELISTED
Intra-Cellular Therapies Inc.
ITCI
$10.4M 1.08%
150,000
-70,000
-32% -$4.81M
ANIP icon
30
ANI Pharmaceuticals
ANIP
$1.78B
$10.4M 1.08%
+150,000
New +$9.06M
AUPH icon
31
Aurinia Pharmaceuticals
AUPH
$2.11B
$10.3M 1.07%
2,050,000
+1,500,000
+273% +$10.2M
AZN icon
32
AstraZeneca
AZN
$250B
$10.2M 1.06%
75,000
-10,000
-12% -$1.32M
KNSA icon
33
Kiniksa Pharmaceuticals
KNSA
$5.93B
$9.87M 1.03%
500,000
-100,000
-17% -$1.95M
CGEM icon
34
Cullinan Oncology
CGEM
$1.14B
$9.73M 1.01%
571,138
-200,000
-26% -$3.09M
ACAD icon
35
Acadia Pharmaceuticals
ACAD
$5.03B
$9.59M 1%
518,900
+404,500
+354% +$10M
HRMY icon
36
Harmony Biosciences
HRMY
$2.24B
$9.44M 0.98%
281,200
+10,000
+4% +$321K
DCPH
37
DELISTED
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
$9.44M 0.98%
+600,000
New +$9.23M
NVDA icon
38
NVIDIA
NVDA
$5.42T
$9.04M 0.94%
+100,000
New +$7.25M
VKTX icon
39
Viking Therapeutics
VKTX
$4B
$8.2M 0.85%
+100,000
New +$4.45M
BDTX icon
40
Black Diamond Therapeutics
BDTX
$112M
$8.13M 0.85%
1,603,200
-200,000
-11% -$806K
DTIL icon
41
Precision BioSciences
DTIL
$207M
$7.99M 0.83%
589,569
+476,236
+420% +$5.83M
DNTH icon
42
Dianthus Therapeutics
DNTH
$6.09B
$7.94M 0.83%
264,692
-239,550
-48% -$5.21M
CRSP icon
43
CRISPR Therapeutics
CRSP
$5.17B
$7.94M 0.83%
116,500
-98,500
-46% -$7.05M
BHVN icon
44
Biohaven
BHVN
$2.21B
$7.66M 0.8%
140,000
– –
ARVN icon
45
Arvinas
ARVN
$572M
$7.43M 0.77%
180,000
+100,000
+125% +$4.37M
IOVA icon
46
Iovance Biotherapeutics
IOVA
$2.87B
$7.41M 0.77%
500,000
-500,000
-50% -$5.82M
VNDA icon
47
Vanda Pharmaceuticals
VNDA
$302M
$7.2M 0.75%
1,751,654
+1,503,464
+606% +$6.02M
CYTK icon
48
Cytokinetics
CYTK
$10.4B
$7.01M 0.73%
100,000
-10,000
-9% -$773K
APGE icon
49
Apogee Therapeutics
APGE
$10.2B
$6.64M 0.69%
+100,000
New +$4.37M
IONS icon
50
Ionis Pharmaceuticals
IONS
$9.4B
$6.5M 0.68%
150,000
-50,000
-25% -$2.38M
1
2
3 4 5

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Tang Capital Management's Q1 2024 Portfolio in Review

As of Q1 2024, Tang Capital Management held 146 positions worth $960M, down 11% from $1.08B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Tang Capital Management withdrew a net $259M in Q1 2024, closing 47 positions and reducing 38 holdings. Its most notable exit was Mirati Therapeutics, Inc. Common Stock, an estimated $91.5M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 98% of assets, up from 96% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Tang Capital Management opened a new position in Inhibrx, Inc. Common Stock worth $24.5M.

  • Tang Capital Management's largest Q1 2024 buy was Inhibrx, Inc. Common Stock: 700,000 shares worth $24.5M.
  • Tang Capital Management added most to Adicet Bio in Q1 2024, an estimated $14.3M increase.
  • Tang Capital Management's biggest Q1 2024 reduction was AnaptysBio, cutting an estimated $14.7M.
  • Tang Capital Management fully exited Mirati Therapeutics, Inc. Common Stock in Q1 2024, selling an estimated $91.5M.
  • Tang Capital Management's ten largest holdings make up 38% of its $960M portfolio in Q1 2024.
  • Tang Capital Management opened 23 new positions and closed 47 in Q1 2024.
  • Tang Capital Management's portfolio value fell 11% quarter-over-quarter to $960M.

Based on Tang Capital Management's 13F filing for Q1 2024, filed 15 May 2024.