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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
-3.24%
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
$709M
AUM Growth
+$29.4M
Cap. Flow
+$90.1M
Cap. Flow %
12.71%
Top 10 Hldgs %
39.27%
Holding
116
New
17
Increased
23
Reduced
16
Closed
10

Top Buys

Rank Stock Value
1
EQRX
EQRx, Inc. Common Stock
EQRX
+$21.6M
2
NTLA icon
Intellia Therapeutics
NTLA
+$15.4M
3
AVDL
Avadel Pharmaceuticals
AVDL
+$13.4M
4
NVCR icon
NovoCure
NVCR
+$11.3M
5
QURE icon
uniQure
QURE
+$8.42M

Top Sells

Rank Stock Value
1
BLUE
bluebird bio
BLUE
+$10.9M
2
COF icon
Capital One
COF
+$8.75M
3
BCRX icon
BioCryst Pharmaceuticals
BCRX
+$4.67M
4
PYXS icon
Pyxis Oncology
PYXS
+$4.58M
5
PHAT icon
Phathom Pharmaceuticals
PHAT
+$3.58M

Sector Composition

Rank Sector Weight
1 Healthcare 94.04%
2 Financials 5.11%
3 Real Estate 0.78%
4 Consumer Discretionary 0.07%
5 Utilities 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ACET icon
76
Adicet Bio
ACET
$74.7M
$1.68M 0.24%
76,647
-78,325
-51% -$2.77M
DERM icon
77
Journey Medical
DERM
$177M
$1.58M 0.22%
+576,100
New +$1.29M
ARVN icon
78
Arvinas
ARVN
$572M
$1.57M 0.22%
80,000
– –
SFBS
79
ServisFirst Bancshares
SFBS
$4.86B
$1.57M 0.22%
30,000
– –
EDIT icon
80
Editas Medicine
EDIT
$442M
$1.56M 0.22%
200,000
– –
SPRY icon
81
ARS Pharmaceuticals
SPRY
$612M
$1.55M 0.22%
409,463
– –
NKTX icon
82
Nkarta
NKTX
$172M
$1.53M 0.22%
1,103,638
-282,191
-20% -$535K
CHRS icon
83
Coherus Oncology
CHRS
$196M
$1.5M 0.21%
400,000
– –
BOH icon
84
Bank of Hawaii
BOH
$3.13B
$1.49M 0.21%
30,000
– –
FATE icon
85
Fate Therapeutics
FATE
$326M
$1.48M 0.21%
700,000
– –
BDTX icon
86
Black Diamond Therapeutics
BDTX
$112M
$1.15M 0.16%
+400,000
New +$1.47M
ASND icon
87
Ascendis Pharma A/S
ASND
$16.8B
$936K 0.13%
10,000
– –
TGTX icon
88
TG Therapeutics
TGTX
$7.62B
$836K 0.12%
+100,000
New +$1.39M
ATYR
89
aTyr Pharma
ATYR
$50.1M
$744K 0.11%
471,134
+321,134
+214% +$594K
LONA
90
LeonaBio Inc
LONA
$72.1M
$712K 0.1%
35,272
– –
GOSS icon
91
Gossamer Bio
GOSS
$87M
$698K 0.1%
+838,600
New +$966K
MASS icon
92
908 Devices
MASS
$364M
$666K 0.09%
100,000
– –
IVVD icon
93
Invivyd
IVVD
$218M
$623K 0.09%
366,536
-785,307
-68% -$1.25M
ISPO
94
DELISTED
Inspirato
ISPO
$517K 0.07%
43,779
-7,971
-15% -$132K
NXTC icon
95
NextCure
NXTC
$26.7M
$516K 0.07%
33,333
– –
GRCL
96
DELISTED
Gracell Biotechnologies Inc. American Depositary Shares
GRCL
$458K 0.06%
+159,087
New +$582K
STEL
97
DELISTED
Stellar Bancorp
STEL
$426K 0.06%
20,000
– –
RNAC icon
98
Cartesian Therapeutics
RNAC
$268M
$424K 0.06%
13,333
– –
MOLN
99
Molecular Partners
MOLN
$414K 0.06%
100,000
+60,247
+152% +$342K
EQ icon
100
Equillium
EQ
$133M
$296K 0.04%
400,000
– –
1 2 3
4
5

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RMCM
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FC
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BC
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FFH
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Tang Capital Management's Q3 2023 Portfolio in Review

As of Q3 2023, Tang Capital Management held 116 positions worth $709M, up 4.3% from $679M the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Tang Capital Management deployed $90.1M of net new capital in Q3 2023, opening 17 new positions and adding to 23 existing holdings. Its largest new stake was EQRx, Inc. Common Stock: 10,086,110 shares worth $22.4M.

By sector, the portfolio is most concentrated in Healthcare at 94% of assets, up from 93% a quarter earlier, followed by Financials and Real Estate.

On the sell side, the largest reduction was bluebird bio, an estimated $10.9M trimmed.

  • Tang Capital Management's largest Q3 2023 buy was EQRx, Inc. Common Stock: 10,086,110 shares worth $22.4M.
  • Tang Capital Management added most to NovoCure in Q3 2023, an estimated $11.3M increase.
  • Tang Capital Management's biggest Q3 2023 reduction was bluebird bio, cutting an estimated $10.9M.
  • Tang Capital Management fully exited Capital One in Q3 2023, selling an estimated $8.75M.
  • Tang Capital Management's ten largest holdings make up 39% of its $709M portfolio in Q3 2023.
  • Tang Capital Management opened 17 new positions and closed 10 in Q3 2023.
  • Tang Capital Management's portfolio value rose 4.3% quarter-over-quarter to $709M.

Based on Tang Capital Management's 13F filing for Q3 2023, filed 14 Nov 2023.