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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
SLNO
101
DELISTED
Soleno Therapeutics
SLNO
$2.25M 0.15%
+50,000
New +$2.59M
CDNA icon
102
CareDx
CDNA
$2.42B
$2.14M 0.14%
+100,000
New +$2.43M
GMAB icon
103
Genmab
GMAB
$19.5B
$2.09M 0.14%
100,000
– –
APLT
104
DELISTED
Applied Therapeutics
APLT
$2.08M 0.14%
2,428,169
-301,831
-11% -$1.89M
IDXX icon
105
Idexx Laboratories
IDXX
$46.2B
$2.07M 0.14%
+5,000
New +$2.19M
BOLT icon
106
Bolt Biotherapeutics
BOLT
$7.78M
$2.04M 0.14%
190,639
– –
FTRE icon
107
Fortrea Holdings
FTRE
$1.75B
$1.86M 0.12%
+100,000
New +$1.95M
ITOS
108
DELISTED
iTeos Therapeutics
ITOS
$1.7M 0.11%
221,716
-2,186,084
-91% -$18.8M
JPM icon
109
JPMorgan Chase
JPM
$950B
$1.58M 0.1%
6,601
+1,928
+41% +$449K
WMT icon
110
Walmart Inc
WMT
$890B
$1.57M 0.1%
17,423
+4,698
+37% +$408K
THRD
111
DELISTED
Third Harmonic Bio
THRD
$1.54M 0.1%
+150,000
New +$1.87M
ERAS icon
112
Erasca
ERAS
$6.39B
$1.51M 0.1%
602,915
+100,000
+20% +$274K
V icon
113
Visa
V
$677B
$1.49M 0.1%
4,718
+1,400
+42% +$421K
DIS icon
114
Walt Disney
DIS
$181B
$1.46M 0.1%
13,095
+4,261
+48% +$448K
MSFT icon
115
Microsoft
MSFT
$3.71T
$1.44M 0.1%
3,413
+1,163
+52% +$495K
REGN icon
116
Regeneron Pharmaceuticals
REGN
$80.8B
$1.42M 0.09%
+2,000
New +$1.68M
VTRS icon
117
Viatris
VTRS
$18.9B
$1.42M 0.09%
114,316
+40,435
+55% +$497K
BRK.B icon
118
Berkshire Hathaway Class B
BRK.B
$1.13T
$1.4M 0.09%
3,099
+1,020
+49% +$471K
VSTM icon
119
Verastem
VSTM
$610M
$1.4M 0.09%
270,000
– –
DFTX
120
Definium Therapeutics
DFTX
$6.12B
$1.39M 0.09%
+200,000
New +$1.38M
PYPL icon
121
PayPal
PYPL
$50.5B
$1.34M 0.09%
15,714
+4,615
+42% +$388K
PG icon
122
Procter & Gamble
PG
$339B
$1.33M 0.09%
7,962
+2,817
+55% +$480K
SNDX icon
123
Syndax Pharmaceuticals
SNDX
$1.82B
$1.32M 0.09%
+100,000
New +$1.71M
HD icon
124
Home Depot
HD
$355B
$1.3M 0.09%
3,353
+999
+42% +$408K
BEAM icon
125
Beam Therapeutics
BEAM
$2.84B
$1.24M 0.08%
50,000
-120,000
-71% -$3.06M
3 4
5
6 7

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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.