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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
-0.55%
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
$1.51B
AUM Growth
+$111M
Cap. Flow
+$272M
Cap. Flow %
17.99%
Top 10 Hldgs %
37.54%
Holding
194
New
40
Increased
63
Reduced
17
Closed
11

Top Buys

Rank Stock Value
1
LKFT
Lakefront Biotherapeutics American Depositary Shares
LKFT
+$40.7M
2
RLAY icon
Relay Therapeutics
RLAY
+$24.5M
3
BIOA
BioAge Labs
BIOA
+$22.7M
4
LEGN icon
Legend Biotech
LEGN
+$18.6M
5
REPL icon
Replimune Group
REPL
+$18.2M

Top Sells

Rank Stock Value
1
ITOS
iTeos Therapeutics
ITOS
+$18.8M
2
RVNC
Revance Therapeutics, Inc.
RVNC
+$13M
3
IMNM icon
Immunome
IMNM
+$10.5M
4
ANIP icon
ANI Pharmaceuticals
ANIP
+$7.61M
5
CNTA
Centessa Pharmaceuticals
CNTA
+$6.4M

Sector Composition

Rank Sector Weight
1 Healthcare 94.65%
2 Technology 1.65%
3 Communication Services 1.35%
4 Consumer Discretionary 0.56%
5 Financials 0.53%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
APGE icon
76
Apogee Therapeutics
APGE
$10.2B
$4.53M 0.3%
100,000
– –
LNTH icon
77
Lantheus
LNTH
$6.59B
$4.47M 0.3%
50,000
– –
BDTX icon
78
Black Diamond Therapeutics
BDTX
$112M
$4.43M 0.29%
2,070,209
+700,000
+51% +$2.01M
RVMD icon
79
Revolution Medicines
RVMD
$44B
$4.37M 0.29%
+100,000
New +$5.05M
MRUS
80
DELISTED
Merus
MRUS
$4.21M 0.28%
100,000
– –
PHAT icon
81
Phathom Pharmaceuticals
PHAT
$692M
$4.06M 0.27%
+500,000
New +$6.19M
NUVL
82
DELISTED
Nuvalent
NUVL
$3.91M 0.26%
50,000
– –
ARE icon
83
Alexandria Real Estate Equities
ARE
$8.56B
$3.9M 0.26%
40,000
– –
CMPS
84
Compass Pathways
CMPS
$1.83B
$3.78M 0.25%
+1,000,000
New +$5.07M
IOVA icon
85
Iovance Biotherapeutics
IOVA
$2.87B
$3.7M 0.24%
500,000
– –
TECX
86
Tectonic Therapeutic
TECX
$606M
$3.66M 0.24%
79,166
– –
GRAL
87
GRAIL Inc
GRAL
$3.1B
$3.57M 0.24%
+200,000
New +$3.25M
STOK icon
88
Stoke Therapeutics
STOK
$2.11B
$3.31M 0.22%
+300,000
New +$3.69M
HRTX icon
89
Heron Therapeutics
HRTX
$92.9M
$3.27M 0.22%
2,140,271
+290,271
+16% +$470K
CCCC icon
90
C4 Therapeutics
CCCC
$412M
$3.24M 0.21%
900,000
+200,000
+29% +$994K
FATE icon
91
Fate Therapeutics
FATE
$326M
$3.06M 0.2%
1,855,954
+1,155,954
+165% +$2.91M
TGTX icon
92
TG Therapeutics
TGTX
$7.62B
$3.01M 0.2%
100,000
– –
CRBP icon
93
Corbus Pharmaceuticals
CRBP
$190M
$2.86M 0.19%
242,653
-357,347
-60% -$5.99M
SWTX
94
DELISTED
SpringWorks Therapeutics
SWTX
$2.68M 0.18%
74,265
– –
ELEV
95
DELISTED
Elevation Oncology
ELEV
$2.68M 0.18%
4,760,000
– –
JANX icon
96
Janux Therapeutics
JANX
$967M
$2.68M 0.18%
+50,000
New +$2.64M
DTIL icon
97
Precision BioSciences
DTIL
$207M
$2.57M 0.17%
673,332
+50,000
+8% +$365K
OKUR
98
OnKure Therapeutics
OKUR
$168M
$2.53M 0.17%
294,626
– –
TBPH icon
99
Theravance Biopharma
TBPH
$877M
$2.47M 0.16%
262,896
– –
ATYR
100
aTyr Pharma
ATYR
$50.1M
$2.43M 0.16%
671,134
– –
2 3
4
5 6

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FFH
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Tang Capital Management's Q4 2024 Portfolio in Review

As of Q4 2024, Tang Capital Management held 194 positions worth $1.51B, up 8% from $1.4B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Tang Capital Management deployed $272M of net new capital in Q4 2024, opening 40 new positions and adding to 63 existing holdings. Its largest new stake was BioAge Labs: 1,318,361 shares worth $7.63M.

By sector, the portfolio is most concentrated in Healthcare at 95% of assets, down from 96% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was iTeos Therapeutics, an estimated $18.8M trimmed.

  • Tang Capital Management's largest Q4 2024 buy was BioAge Labs: 1,318,361 shares worth $7.63M.
  • Tang Capital Management added most to Lakefront Biotherapeutics American Depositary Shares in Q4 2024, an estimated $40.7M increase.
  • Tang Capital Management's biggest Q4 2024 reduction was iTeos Therapeutics, cutting an estimated $18.8M.
  • Tang Capital Management fully exited Revance Therapeutics, Inc. in Q4 2024, selling an estimated $13M.
  • Tang Capital Management's ten largest holdings make up 38% of its $1.51B portfolio in Q4 2024.
  • Tang Capital Management opened 40 new positions and closed 11 in Q4 2024.
  • Tang Capital Management's portfolio value rose 8% quarter-over-quarter to $1.51B.

Based on Tang Capital Management's 13F filing for Q4 2024, filed 14 Feb 2025.