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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
NUVB icon
51
Nuvation Bio
NUVB
$2.32B
$5.29M 0.49%
+3,500,000
New +$4.5M
DNTH icon
52
Dianthus Therapeutics
DNTH
$6.09B
$5.24M 0.48%
504,242
-87,394
-15% -$965K
BIO icon
53
Bio-Rad Laboratories Class A
BIO
$9.42B
$5.17M 0.48%
16,000
-8,000
-33% -$2.51M
INSM icon
54
Insmed
INSM
$28.6B
$5.15M 0.48%
166,203
– –
BDTX icon
55
Black Diamond Therapeutics
BDTX
$112M
$5.07M 0.47%
1,803,200
+1,403,200
+351% +$3.29M
AUPH icon
56
Aurinia Pharmaceuticals
AUPH
$2.11B
$4.94M 0.46%
550,000
-200,000
-27% -$1.65M
VTYX
57
DELISTED
Ventyx Biosciences
VTYX
$4.94M 0.46%
+2,000,000
New +$19M
VBTX
58
DELISTED
Veritex Holdings
VBTX
$4.89M 0.45%
210,000
– –
BCRX icon
59
BioCryst Pharmaceuticals
BCRX
$2.4B
$4.79M 0.44%
800,000
-1,000,000
-56% -$5.79M
RAIN
60
DELISTED
Rain Oncology Inc. Common Stock
RAIN
$4.62M 0.43%
3,850,513
+110,172
+3% +$119K
BPMC
61
DELISTED
Blueprint Medicines
BPMC
$4.61M 0.43%
+50,000
New +$3.24M
USB icon
62
US Bancorp
USB
$99.6B
$4.33M 0.4%
100,000
– –
DVAX
63
DELISTED
Dynavax Technologies
DVAX
$4.19M 0.39%
300,000
– –
BOLT icon
64
Bolt Biotherapeutics
BOLT
$7.78M
$4.09M 0.38%
182,612
+4,760
+3% +$92.7K
QURE icon
65
uniQure
QURE
$3.22B
$4.06M 0.38%
600,000
-335,800
-36% -$2.22M
DSGN icon
66
Design Therapeutics
DSGN
$876M
$3.92M 0.36%
1,480,675
+130,675
+10% +$299K
CRGX
67
DELISTED
CARGO Therapeutics
CRGX
$3.72M 0.34%
+160,544
New +$2.72M
SWTX
68
DELISTED
SpringWorks Therapeutics
SWTX
$3.65M 0.34%
+100,000
New +$2.61M
NKTX icon
69
Nkarta
NKTX
$172M
$3.63M 0.34%
550,000
-553,638
-50% -$1.43M
BOH icon
70
Bank of Hawaii
BOH
$3.13B
$3.62M 0.33%
50,000
+20,000
+67% +$1.15M
ACAD icon
71
Acadia Pharmaceuticals
ACAD
$5.03B
$3.58M 0.33%
114,400
+14,400
+14% +$344K
IPSC icon
72
Century Therapeutics
IPSC
$361M
$3.54M 0.33%
+1,066,440
New +$1.94M
ADAP
73
DELISTED
Adaptimmune Therapeutics
ADAP
$3.48M 0.32%
4,387,238
-779,716
-15% -$440K
QNCX icon
74
Quince Therapeutics
QNCX
$29.5M
$3.38M 0.31%
16,100
-1,394
-8% -$279K
ARVN icon
75
Arvinas
ARVN
$572M
$3.29M 0.3%
80,000
– –
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.