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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
+5.72%
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
$1.97B
AUM Growth
-$55.4M
Cap. Flow
-$90.8M
Cap. Flow %
-4.61%
Top 10 Hldgs %
57.9%
Holding
79
New
4
Increased
9
Reduced
14
Closed
28

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$93.8M
2
CORT icon
Corcept Therapeutics
CORT
+$50.2M
3
CAPR icon
Capricor Therapeutics
CAPR
+$45.3M
4
INSM icon
Insmed
INSM
+$30.7M
5
CMPS
Compass Pathways
CMPS
+$26.9M

Top Sells

Rank Stock Value
1
RNAM
Avidity Biosciences
RNAM
+$64.9M
2
VRTX icon
Vertex Pharmaceuticals
VRTX
+$36.3M
3
MRNA icon
Moderna
MRNA
+$27.7M
4
TVTX icon
Travere Therapeutics
TVTX
+$26.7M
5
VTYX
Ventyx Biosciences
VTYX
+$25.4M

Sector Composition

Rank Sector Weight
1 Healthcare 94.45%
2 Communication Services 0%
3 Real Estate 0%
4 Technology 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VRTX icon
76
Vertex Pharmaceuticals
VRTX
$120B
– –
-80,000
Closed -$36.3M
VSTM icon
77
Verastem
VSTM
$523M
– –
-1,069,810
Closed -$8.26M
VTYX
78
DELISTED
Ventyx Biosciences
VTYX
– –
-2,814,000
Closed -$25.4M
ZYME icon
79
Zymeworks
ZYME
$1.7B
– –
-34,631
Closed -$912K
1 2 3
4

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FWTB
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NIM
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RMCM
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Tang Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Tang Capital Management held 79 positions worth $1.97B, down 2.7% from $2.02B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Tang Capital Management withdrew a net $90.8M in Q1 2026, closing 28 positions and reducing 14 holdings. Its most notable exit was Avidity Biosciences, an estimated $64.9M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 94% of assets, down from 97% a quarter earlier, followed by Communication Services and Real Estate.

Against the trend, Tang Capital Management opened a new position in Compass Pathways worth $22.1M.

  • Tang Capital Management's largest Q1 2026 buy was Compass Pathways: 4,002,200 shares worth $22.1M.
  • Tang Capital Management added most to State Street SPDR S&P 500 ETF Trust in Q1 2026, an estimated $93.8M increase.
  • Tang Capital Management's biggest Q1 2026 reduction was Moderna, cutting an estimated $27.7M.
  • Tang Capital Management fully exited Avidity Biosciences in Q1 2026, selling an estimated $64.9M.
  • Tang Capital Management's ten largest holdings make up 58% of its $1.97B portfolio in Q1 2026.
  • Tang Capital Management opened 4 new positions and closed 28 in Q1 2026.
  • Tang Capital Management's portfolio value fell 2.7% quarter-over-quarter to $1.97B.

Based on Tang Capital Management's 13F filing for Q1 2026, filed 15 May 2026.