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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
ASLN
51
DELISTED
ASLAN Pharmaceuticals Limited American Depositary Shares
ASLN
$3.36M 0.5%
145,663
+11,540
+9% +$312K
CVBF icon
52
CVB Financial
CVBF
$3.99B
$3.34M 0.5%
+200,000
New +$4.56M
ALGS icon
53
Aligos Therapeutics
ALGS
$34.9M
$2.99M 0.45%
136,992
+24,336
+22% +$930K
ITOS
54
DELISTED
iTeos Therapeutics
ITOS
$2.95M 0.44%
216,700
– –
DVAX
55
DELISTED
Dynavax Technologies
DVAX
$2.94M 0.44%
300,000
– –
ESPR
56
DELISTED
Esperion Therapeutics
ESPR
$2.94M 0.44%
+1,850,000
New +$9.55M
AMLX icon
57
Amylyx Pharmaceuticals
AMLX
$2.54B
$2.93M 0.44%
100,000
– –
INSM icon
58
Insmed
INSM
$28.6B
$2.83M 0.42%
166,203
– –
RCUS icon
59
Arcus Biosciences
RCUS
$3.64B
$2.7M 0.4%
147,920
– –
SPRY icon
60
ARS Pharmaceuticals
SPRY
$612M
$2.67M 0.4%
409,463
– –
ELEV
61
DELISTED
Elevation Oncology
ELEV
$2.66M 0.4%
1,400,000
+920,146
+192% +$1.19M
TSVT
62
DELISTED
2seventy bio
TSVT
$2.55M 0.38%
250,000
– –
EGRX
63
DELISTED
Eagle Pharmaceuticals, Inc.
EGRX
$2.27M 0.34%
80,000
-38,857
-33% -$1.15M
BOLT icon
64
Bolt Biotherapeutics
BOLT
$7.78M
$2.26M 0.34%
81,378
+61,378
+307% +$1.8M
BKU icon
65
Bankunited
BKU
$3.36B
$2.26M 0.34%
+100,000
New +$3.26M
RXDX
66
DELISTED
Prometheus Biosciences, Inc. Common Stock
RXDX
$2.25M 0.34%
+21,000
New +$2.42M
ARVN icon
67
Arvinas
ARVN
$572M
$2.19M 0.33%
80,000
+50,000
+167% +$1.58M
BLU
68
DELISTED
BELLUS Health Inc.
BLU
$2.16M 0.32%
+300,000
New +$2.33M
EQC
69
DELISTED
Equity Commonwealth
EQC
$2.07M 0.31%
+100,000
New +$2.32M
VBTX
70
DELISTED
Veritex Holdings
VBTX
$2.01M 0.3%
+110,000
New +$2.8M
IBRX icon
71
ImmunityBio
IBRX
$8.1B
$1.99M 0.3%
+1,095,795
New +$3.41M
ALLK
72
DELISTED
Allakos
ALLK
$1.99M 0.3%
447,967
– –
BHVN icon
73
Biohaven
BHVN
$2.21B
$1.91M 0.29%
140,000
– –
SFBS
74
ServisFirst Bancshares
SFBS
$4.86B
$1.64M 0.24%
+30,000
New +$2.01M
CHRS icon
75
Coherus Oncology
CHRS
$196M
$1.37M 0.2%
200,000
+84,100
+73% +$653K
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.