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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
+47.97%
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
$1.08B
AUM Growth
+$374M
Cap. Flow
+$212M
Cap. Flow %
19.62%
Top 10 Hldgs %
41.77%
Holding
136
New
30
Increased
24
Reduced
21
Closed
13

Top Buys

Rank Stock Value
1
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$77.5M
2
LIAN
LianBio American Depositary Shares
LIAN
+$26M
3
OKUR
OnKure Therapeutics
OKUR
+$20.8M
4
PTCT icon
PTC Therapeutics
PTCT
+$20.6M
5
VTYX
Ventyx Biosciences
VTYX
+$19M

Top Sells

Rank Stock Value
1
EQRX
EQRx, Inc. Common Stock
EQRX
+$22.4M
2
THRD
Third Harmonic Bio
THRD
+$11.5M
3
NVCR icon
NovoCure
NVCR
+$7.95M
4
BLUE
bluebird bio
BLUE
+$7.87M
5
BCRX icon
BioCryst Pharmaceuticals
BCRX
+$5.79M

Sector Composition

Rank Sector Weight
1 Healthcare 95.77%
2 Financials 3.5%
3 Real Estate 0.65%
4 Technology 0.08%
5 Consumer Discretionary 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NKTR icon
101
Nektar Therapeutics
NKTR
$2.58B
$1.33M 0.12%
156,541
-106,099
-40% -$804K
ARE icon
102
Alexandria Real Estate Equities
ARE
$8.56B
$1.27M 0.12%
+10,000
New +$1.08M
DTIL icon
103
Precision BioSciences
DTIL
$207M
$1.24M 0.11%
+113,333
New +$1.22M
MASS icon
104
908 Devices
MASS
$364M
$1.12M 0.1%
100,000
– –
VNDA icon
105
Vanda Pharmaceuticals
VNDA
$302M
$1.05M 0.1%
+248,190
New +$1M
ABOS icon
106
Acumen Pharmaceuticals
ABOS
$176M
$948K 0.09%
+246,895
New +$733K
TSP
107
DELISTED
TuSimple Holdings Inc. Class A Common Stock
TSP
$878K 0.08%
+1,000,000
New +$1.02M
GOSS icon
108
Gossamer Bio
GOSS
$87M
$765K 0.07%
838,600
– –
ATYR
109
aTyr Pharma
ATYR
$50.1M
$664K 0.06%
471,134
– –
SYRS
110
DELISTED
Syros Pharmaceuticals, Inc. Common Stock
SYRS
$662K 0.06%
+85,031
New +$291K
EGRX
111
DELISTED
Eagle Pharmaceuticals, Inc.
EGRX
$622K 0.06%
118,857
– –
STIM icon
112
Neuronetics
STIM
$166M
$580K 0.05%
200,000
– –
STEL
113
DELISTED
Stellar Bancorp
STEL
$557K 0.05%
20,000
– –
NXTC icon
114
NextCure
NXTC
$26.7M
$533K 0.05%
38,994
+5,661
+17% +$82K
MOLN
115
Molecular Partners
MOLN
$418K 0.04%
100,000
– –
TRVI icon
116
Trevi Therapeutics
TRVI
$2.64B
$402K 0.04%
+300,000
New +$454K
XERS icon
117
Xeris Biopharma Holdings
XERS
$1.45B
$353K 0.03%
150,000
– –
ERAS icon
118
Erasca
ERAS
$6.39B
$320K 0.03%
+150,000
New +$316K
KZR
119
DELISTED
Kezar Life Sciences
KZR
$291K 0.03%
+30,667
New +$270K
EQ icon
120
Equillium
EQ
$133M
$289K 0.03%
400,000
– –
RNAC icon
121
Cartesian Therapeutics
RNAC
$268M
$276K 0.03%
13,333
– –
WGS icon
122
GeneDx Holdings
WGS
$2.3B
$175K 0.02%
63,636
– –
TLPH icon
123
Talphera
TLPH
$74.2M
$143K 0.01%
195,000
– –
C icon
124
Citigroup
C
$226B
– –
-100,000
Closed -$4.11M
CHRS icon
125
Coherus Oncology
CHRS
$196M
– –
-400,000
Closed -$1.5M
2 3 4
5
6

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Tang Capital Management's Q4 2023 Portfolio in Review

As of Q4 2023, Tang Capital Management held 136 positions worth $1.08B, up 53% from $709M the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Tang Capital Management deployed $212M of net new capital in Q4 2023, opening 30 new positions and adding to 24 existing holdings. Its largest new stake was OnKure Therapeutics: 333,000 shares worth $5.33M.

By sector, the portfolio is most concentrated in Healthcare at 96% of assets, up from 94% a quarter earlier, followed by Financials and Real Estate.

On the sell side, the largest reduction was bluebird bio, an estimated $7.87M trimmed.

  • Tang Capital Management's largest Q4 2023 buy was OnKure Therapeutics: 333,000 shares worth $5.33M.
  • Tang Capital Management added most to Mirati Therapeutics, Inc. Common Stock in Q4 2023, an estimated $77.5M increase.
  • Tang Capital Management's biggest Q4 2023 reduction was bluebird bio, cutting an estimated $7.87M.
  • Tang Capital Management fully exited EQRx, Inc. Common Stock in Q4 2023, selling an estimated $22.4M.
  • Tang Capital Management's ten largest holdings make up 42% of its $1.08B portfolio in Q4 2023.
  • Tang Capital Management opened 30 new positions and closed 13 in Q4 2023.
  • Tang Capital Management's portfolio value rose 53% quarter-over-quarter to $1.08B.

Based on Tang Capital Management's 13F filing for Q4 2023, filed 14 Feb 2024.