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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
LENZ
51
LENZ Therapeutics
LENZ
$168M
$3.49M 0.43%
157,143
– –
SWTX
52
DELISTED
SpringWorks Therapeutics
SWTX
$3.42M 0.42%
+120,000
New +$3.44M
ASLN
53
DELISTED
ASLAN Pharmaceuticals Limited American Depositary Shares
ASLN
$3.39M 0.42%
141,373
+2,500
+2% +$64.5K
ESPR
54
DELISTED
Esperion Therapeutics
ESPR
$3.35M 0.41%
+500,000
New +$3.43M
ATYR
55
aTyr Pharma
ATYR
$50.1M
$3.34M 0.41%
1,113,453
– –
CRSP icon
56
CRISPR Therapeutics
CRSP
$5.17B
$3.27M 0.4%
+50,000
New +$3.62M
LEGN icon
57
Legend Biotech
LEGN
$4.01B
$3.26M 0.4%
80,000
+30,000
+60% +$1.41M
ANIP icon
58
ANI Pharmaceuticals
ANIP
$1.78B
$3.21M 0.39%
100,000
– –
EGRX
59
DELISTED
Eagle Pharmaceuticals, Inc.
EGRX
$3.14M 0.39%
+118,857
New +$4.36M
AXSM icon
60
Axsome Therapeutics
AXSM
$10.9B
$3.12M 0.38%
+70,000
New +$3.5M
CLNN icon
61
Clene
CLNN
$67.5M
$3.08M 0.38%
+55,000
New +$3.64M
GOSS icon
62
Gossamer Bio
GOSS
$87M
$3M 0.37%
+250,000
New +$3.1M
PYXS icon
63
Pyxis Oncology
PYXS
$236M
$2.78M 0.34%
1,411,569
+32,489
+2% +$84.9K
BPMC
64
DELISTED
Blueprint Medicines
BPMC
$2.64M 0.32%
+40,000
New +$2.57M
CCXI
65
DELISTED
ChemoCentryx, Inc.
CCXI
$2.58M 0.32%
50,000
– –
VNDA icon
66
Vanda Pharmaceuticals
VNDA
$302M
$2.54M 0.31%
256,696
– –
ADMA icon
67
ADMA Biologics
ADMA
$2.22B
$2.41M 0.3%
+992,840
New +$2.38M
BEAM icon
68
Beam Therapeutics
BEAM
$2.84B
$2.38M 0.29%
+50,000
New +$2.85M
SPRY icon
69
ARS Pharmaceuticals
SPRY
$612M
$2.16M 0.27%
+409,463
New +$2.02M
BLU
70
DELISTED
BELLUS Health Inc.
BLU
$2.11M 0.26%
200,000
-400,000
-67% -$4.25M
MLTX icon
71
MoonLake Immunotherapeutics
MLTX
$1.55B
$2.01M 0.25%
259,054
-59,989
-19% -$424K
ALGS icon
72
Aligos Therapeutics
ALGS
$34.9M
$1.84M 0.23%
66,967
+5,059
+8% +$168K
CTIC
73
DELISTED
CTI BioPharma Corp. (DE) Common Stock
CTIC
$1.75M 0.21%
+300,000
New +$1.87M
TCRX icon
74
TScan Therapeutics
TCRX
$52M
$1.7M 0.21%
557,915
-189,885
-25% -$622K
AUPH icon
75
Aurinia Pharmaceuticals
AUPH
$2.11B
$1.5M 0.18%
+200,000
New +$1.73M
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.