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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
(-2.5%)
Cap. Flow
+$158M
Cap. Flow
% of AUM
23.52%
Top 10 Holdings %
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 |
Evolus
EOLS
|
+$21.6M |
| 4 |
NVO
Novo Nordisk
NVO
|
+$19.1M |
| 5 |
Adicet Bio
ACET
|
+$15.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AnaptysBio
ANAB
|
+$14.5M |
| 2 |
Alnylam Pharmaceuticals
ALNY
|
+$12.6M |
| 3 |
ALBO
Albireo Pharma Inc
ALBO
|
+$8.9M |
| 4 |
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 | |
|---|---|---|---|---|---|---|
|
LITS
76
Lite Strategy Inc
LITS
$30.9M
| $1.18M | 0.18% |
+258,173
| New | +$1.44M |
|
77
UMB Financial
UMBF
$11.1B
| $1.15M | 0.17% |
+20,000
| New | +$1.63M |
|
78
SCYNEXIS
SCYX
$52M
| $1.15M | 0.17% |
+47,897
| New | +$637K |
|
|
SURF
79
DELISTED
Surface Oncology, Inc. Common Stock
SURF
| $908K | 0.14% |
1,300,000
+870,353
| +203% | +$705K |
|
|
LONA
80
LeonaBio Inc
LONA
$72.1M
| $882K | 0.13% |
35,272
-13,251
| -27% | -$427K |
|
|
81
Heron Therapeutics
HRTX
$92.9M
| $831K | 0.12% |
550,000
-3,205,934
| -85% | -$8.03M |
|
82
Tango Therapeutics
TNGX
$4.41B
| $790K | 0.12% |
+200,000
| New | +$1.16M |
|
83
Vanda Pharmaceuticals
VNDA
$302M
| $679K | 0.1% |
+100,000
| New | +$703K |
|
84
Tonix Pharmaceuticals
TNXP
$192M
| $650K | 0.1% |
55
-170
| -76% | -$2.92M |
|
85
NextCure
NXTC
$26.7M
| $592K | 0.09% |
+33,333
| New | +$642K |
|
86
Invivyd
IVVD
$218M
| $480K | 0.07% |
+400,000
| New | +$730K |
|
|
LIAN
87
DELISTED
LianBio American Depositary Shares
LIAN
| $411K | 0.06% |
209,600
+150,000
| +252% | +$311K |
|
|
PRDS
88
DELISTED
Pardes Biosciences, Inc. Common Stock
PRDS
| $396K | 0.06% |
300,000
+266,252
| +789% | +$435K |
|
|
ISPO
89
DELISTED
Inspirato
ISPO
| $364K | 0.05% |
+19,000
| New | +$440K |
|
|
KRON
90
DELISTED
Kronos Bio
KRON
| $292K | 0.04% |
+200,000
| New | +$383K |
|
91
Passage Bio
PASG
$14.1M
| $287K | 0.04% |
+15,000
| New | +$407K |
|
|
ORTX
92
DELISTED
Orchard Therapeutics plc American Depositary Shares
ORTX
| $269K | 0.04% |
50,000
-150,000
| -75% | -$816K |
|
|
ATYR
93
aTyr Pharma
ATYR
$50.1M
| $259K | 0.04% |
123,430
| – | – |
|
|
STEL
94
DELISTED
Stellar Bancorp
STEL
| $246K | 0.04% |
+10,000
| New | +$281K |
|
|
MOLN
95
Molecular Partners
MOLN
| $231K | 0.03% |
38,253
+16,253
| +74% | +$104K |
|
|
RVPH
96
DELISTED
REVIVA PHARMA HLDGS INC
RVPH
| $223K | 0.03% |
2,660
+1,454
| +121% | +$127K |
|
|
CYT
97
DELISTED
Cyteir Therapeutics, Inc. Common Stock
CYT
| $182K | 0.03% |
+100,000
| New | +$162K |
|
98
Instil Bio
TIL
$50.3M
| $132K | 0.02% |
+10,000
| New | +$148K |
|
99
Talphera
TLPH
$74.2M
| $128K | 0.02% |
195,000
| – | – |
|
|
VINC
100
DELISTED
Vincerx Pharma, Inc. Common Stock
VINC
| $106K | 0.02% |
5,088
| – | – |
|
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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.