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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
ISPO
76
DELISTED
Inspirato
ISPO
$1.45M 0.18%
30,617
-127,170
-81% -$9.41M
VINC
77
DELISTED
Vincerx Pharma, Inc. Common Stock
VINC
$1.42M 0.17%
51,532
– –
MRTX
78
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$1.4M 0.17%
+20,000
New +$1.48M
NKTR icon
79
Nektar Therapeutics
NKTR
$2.58B
$1.38M 0.17%
28,669
– –
EQ icon
80
Equillium
EQ
$133M
$1.33M 0.16%
600,000
– –
DCFC
81
DELISTED
Tritium DCFC Limited Ordinary Shares
DCFC
$1.28M 0.16%
2,000
-500
-20% -$626K
CYPH
82
Cypherpunk Technologies Inc
CYPH
$73.3M
$1.1M 0.13%
125,000
– –
DVAX
83
DELISTED
Dynavax Technologies
DVAX
$1.04M 0.13%
+100,000
New +$1.3M
ORTX
84
DELISTED
Orchard Therapeutics plc American Depositary Shares
ORTX
$1M 0.12%
200,000
– –
ALEC icon
85
Alector
ALEC
$199M
$946K 0.12%
100,000
– –
PRDS
86
DELISTED
Pardes Biosciences, Inc. Common Stock
PRDS
$925K 0.11%
500,000
+364,037
+268% +$1.09M
ARVN icon
87
Arvinas
ARVN
$572M
$890K 0.11%
+20,000
New +$971K
OLMA icon
88
Olema Pharmaceuticals
OLMA
$1.05B
$880K 0.11%
318,926
– –
MTCR
89
DELISTED
Metacrine, Inc. Common Stock
MTCR
$833K 0.1%
+1,718,220
New +$845K
QTTB icon
90
Q32 Bio
QTTB
$464M
$346K 0.04%
11,939
– –
BOLT icon
91
Bolt Biotherapeutics
BOLT
$7.78M
$296K 0.04%
10,000
– –
EOLS icon
92
Evolus
EOLS
$501M
$294K 0.04%
+36,514
New +$387K
MOLN
93
Molecular Partners
MOLN
$105K 0.01%
+15,681
New +$100K
ISPOW
94
DELISTED
Inspirato Inc Warrant
ISPOW
$88K 0.01%
365,000
-805,000
-69% -$411K
TLPH icon
95
Talphera
TLPH
$74.2M
$81K 0.01%
+19,423
New +$102K
CRVS icon
96
Corvus Pharmaceuticals
CRVS
$1.17B
– –
-3,301,709
Closed -$3.27M
ROIV icon
97
Roivant Sciences
ROIV
$26.2B
– –
-101,404
Closed -$413K
RVPH
98
DELISTED
REVIVA PHARMA HLDGS INC
RVPH
– –
-60,000
Closed -$1.32M
TNGX icon
99
Tango Therapeutics
TNGX
$4.41B
– –
-468,750
Closed -$2.12M
LJPC
100
DELISTED
La Jolla Pharmaceutical Company
LJPC
– –
-9,607,934
Closed -$30.6M
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.