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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
ADMA icon
101
ADMA Biologics
ADMA
$2.22B
– –
-1,360,000
Closed -$6.15M
ARE icon
102
Alexandria Real Estate Equities
ARE
$8.56B
– –
-10,000
Closed -$1.27M
ASND icon
103
Ascendis Pharma A/S
ASND
$16.8B
– –
-70,000
Closed -$8.82M
AXSM icon
104
Axsome Therapeutics
AXSM
$10.9B
– –
-320,000
Closed -$25.5M
BEAM icon
105
Beam Therapeutics
BEAM
$2.84B
– –
-350,000
Closed -$9.53M
BIO icon
106
Bio-Rad Laboratories Class A
BIO
$9.42B
– –
-16,000
Closed -$5.17M
BOH icon
107
Bank of Hawaii
BOH
$3.13B
– –
-50,000
Closed -$3.62M
BPMC
108
DELISTED
Blueprint Medicines
BPMC
– –
-50,000
Closed -$4.61M
CVBF icon
109
CVB Financial
CVBF
$3.99B
– –
-300,000
Closed -$6.06M
DVAX
110
DELISTED
Dynavax Technologies
DVAX
– –
-300,000
Closed -$4.19M
EDIT icon
111
Editas Medicine
EDIT
$442M
– –
-200,000
Closed -$2.03M
EQ icon
112
Equillium
EQ
$133M
– –
-400,000
Closed -$289K
ESPR
113
DELISTED
Esperion Therapeutics
ESPR
– –
-1,850,000
Closed -$5.53M
GNFT
114
DELISTED
Genfit
GNFT
– –
-479,441
Closed -$1.85M
GOSS icon
115
Gossamer Bio
GOSS
$87M
– –
-838,600
Closed -$765K
INSM icon
116
Insmed
INSM
$28.6B
– –
-166,203
Closed -$5.15M
LVTX
117
DELISTED
LAVA Therapeutics
LVTX
– –
-840,593
Closed -$1.33M
MASS icon
118
908 Devices
MASS
$364M
– –
-100,000
Closed -$1.12M
LITS
119
Lite Strategy Inc
LITS
$30.9M
– –
-326,084
Closed -$1.89M
MRNA icon
120
Moderna
MRNA
$23.6B
– –
-76,700
Closed -$7.63M
NKTR icon
121
Nektar Therapeutics
NKTR
$2.58B
– –
-156,541
Closed -$1.33M
PDSB icon
122
PDS Biotechnology
PDSB
$43.4M
– –
-400,000
Closed -$1.99M
RNAC icon
123
Cartesian Therapeutics
RNAC
$268M
– –
-13,333
Closed -$276K
RVMD icon
124
Revolution Medicines
RVMD
$44B
– –
-679,630
Closed -$19.5M
SFBS
125
ServisFirst Bancshares
SFBS
$4.86B
– –
-30,000
Closed -$2M
2 3 4
5
6

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NIM
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RMCM
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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.