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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
+46.64%
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
$960M
AUM Growth
-$122M
Cap. Flow
-$259M
Cap. Flow %
-26.95%
Top 10 Hldgs %
38.43%
Holding
146
New
23
Increased
19
Reduced
38
Closed
47

Top Buys

Rank Stock Value
1
INBX
Inhibrx, Inc. Common Stock
INBX
+$25.5M
2
IMNM icon
Immunome
IMNM
+$14.6M
3
ACET icon
Adicet Bio
ACET
+$14.3M
4
EOLS icon
Evolus
EOLS
+$13.6M
5
OTLK icon
Outlook Therapeutics
OTLK
+$13.1M

Top Sells

Rank Stock Value
1
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$91.5M
2
IMGN
Immunogen Inc
IMGN
+$65.2M
3
LIAN
LianBio American Depositary Shares
LIAN
+$41.9M
4
AXSM icon
Axsome Therapeutics
AXSM
+$25.5M
5
GRCL
Gracell Biotechnologies Inc. American Depositary Shares
GRCL
+$22M

Sector Composition

Rank Sector Weight
1 Healthcare 98.03%
2 Technology 0.94%
3 Communication Services 0.51%
4 Real Estate 0.32%
5 Financials 0.2%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LQDA icon
76
Liquidia Corp
LQDA
$8.02B
$2.21M 0.23%
+150,000
New +$2.09M
KURA icon
77
Kura Oncology
KURA
$850M
$2.13M 0.22%
+100,000
New +$1.94M
PASG icon
78
Passage Bio
PASG
$14.1M
$2.02M 0.21%
75,000
-45,000
-38% -$1.08M
FLG
79
Flagstar Bank National Association
FLG
$5.82B
$1.95M 0.2%
202,200
-333,333
-62% -$6.16M
ALGS icon
80
Aligos Therapeutics
ALGS
$34.9M
$1.62M 0.17%
66,000
-21,594
-25% -$430K
ENZ
81
DELISTED
Enzo Biochem, Inc.
ENZ
$1.6M 0.17%
1,260,013
-439,987
-26% -$581K
TGTX icon
82
TG Therapeutics
TGTX
$7.62B
$1.52M 0.16%
100,000
– –
ATRA icon
83
Atara Biotherapeutics
ATRA
$76.1M
$1.3M 0.14%
+75,197
New +$1.34M
SEER icon
84
Seer Inc
SEER
$120M
$1.28M 0.13%
+674,125
New +$1.21M
IFRX icon
85
InflaRx
IFRX
$271M
$1.18M 0.12%
769,065
-1,104,688
-59% -$1.81M
TECX
86
Tectonic Therapeutic
TECX
$606M
$1.09M 0.11%
+71,067
New +$1.13M
ABOS icon
87
Acumen Pharmaceuticals
ABOS
$176M
$1,000K 0.1%
246,895
– –
RVNC
88
DELISTED
Revance Therapeutics, Inc.
RVNC
$984K 0.1%
+200,000
New +$1.18M
ATYR
89
aTyr Pharma
ATYR
$50.1M
$919K 0.1%
471,134
– –
MCRB icon
90
Seres Therapeutics
MCRB
$48.9M
$702K 0.07%
45,356
-44,288
-49% -$955K
QURE icon
91
uniQure
QURE
$3.22B
$696K 0.07%
133,921
-466,079
-78% -$2.67M
EGRX
92
DELISTED
Eagle Pharmaceuticals, Inc.
EGRX
$623K 0.06%
118,857
– –
KZR
93
DELISTED
Kezar Life Sciences
KZR
$621K 0.06%
68,894
+38,227
+125% +$348K
DERM icon
94
Journey Medical
DERM
$177M
$510K 0.05%
+138,625
New +$603K
MOLN
95
Molecular Partners
MOLN
$420K 0.04%
100,000
– –
NXTC icon
96
NextCure
NXTC
$26.7M
$322K 0.03%
12,043
-26,951
-69% -$464K
AMLX icon
97
Amylyx Pharmaceuticals
AMLX
$2.54B
$284K 0.03%
100,000
-100,000
-50% -$1.31M
ERAS icon
98
Erasca
ERAS
$6.39B
$206K 0.02%
100,000
-50,000
-33% -$99.9K
RLMD icon
99
Relmada Therapeutics
RLMD
$527M
$1.78K ﹤0.01%
+382
New +$1.84K
ACRS icon
100
Aclaris Therapeutics
ACRS
$869M
– –
-1,753,335
Closed -$1.84M
2 3
4
5 6

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FC
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SC
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BC
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FFH
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Tang Capital Management's Q1 2024 Portfolio in Review

As of Q1 2024, Tang Capital Management held 146 positions worth $960M, down 11% from $1.08B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Tang Capital Management withdrew a net $259M in Q1 2024, closing 47 positions and reducing 38 holdings. Its most notable exit was Mirati Therapeutics, Inc. Common Stock, an estimated $91.5M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 98% of assets, up from 96% a quarter earlier, followed by Technology and Communication Services.

Against the trend, Tang Capital Management opened a new position in Inhibrx, Inc. Common Stock worth $24.5M.

  • Tang Capital Management's largest Q1 2024 buy was Inhibrx, Inc. Common Stock: 700,000 shares worth $24.5M.
  • Tang Capital Management added most to Adicet Bio in Q1 2024, an estimated $14.3M increase.
  • Tang Capital Management's biggest Q1 2024 reduction was AnaptysBio, cutting an estimated $14.7M.
  • Tang Capital Management fully exited Mirati Therapeutics, Inc. Common Stock in Q1 2024, selling an estimated $91.5M.
  • Tang Capital Management's ten largest holdings make up 38% of its $960M portfolio in Q1 2024.
  • Tang Capital Management opened 23 new positions and closed 47 in Q1 2024.
  • Tang Capital Management's portfolio value fell 11% quarter-over-quarter to $960M.

Based on Tang Capital Management's 13F filing for Q1 2024, filed 15 May 2024.