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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
-5.03%
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
$1.81B
AUM Growth
+$296M
Cap. Flow
+$503M
Cap. Flow %
27.85%
Top 10 Hldgs %
39.2%
Holding
208
New
25
Increased
78
Reduced
31
Closed
6

Top Buys

Rank Stock Value
1
DVAX
Dynavax Technologies
DVAX
+$51.6M
2
LKFT
Lakefront Biotherapeutics American Depositary Shares
LKFT
+$45.5M
3
SYRE icon
Spyre Therapeutics
SYRE
+$42.7M
4
PLRX icon
Pliant Therapeutics
PLRX
+$36.4M
5
KNSA icon
Kiniksa Pharmaceuticals
KNSA
+$30.7M

Top Sells

Rank Stock Value
1
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$9.97M
2
OMIC
Singular Genomics Systems, Inc. Common Stock
OMIC
+$7.23M
3
GRAL
GRAIL Inc
GRAL
+$5.83M
4
ALMS
Alumis Inc
ALMS
+$4.72M
5
SEER icon
Seer Inc
SEER
+$1.96M

Sector Composition

Rank Sector Weight
1 Healthcare 94.79%
2 Technology 1.25%
3 Communication Services 1.23%
4 Consumer Discretionary 0.99%
5 Financials 0.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MLYS icon
101
Mineralys Therapeutics
MLYS
$2.41B
$3.18M 0.18%
+200,000
New +$2.3M
TECX
102
Tectonic Therapeutic
TECX
$606M
$3.17M 0.18%
179,166
+100,000
+126% +$3.26M
KLRS
103
Kalaris Therapeutics
KLRS
$96.8M
$2.48M 0.14%
309,221
+285,210
+1,188% +$2.79M
SNDX icon
104
Syndax Pharmaceuticals
SNDX
$1.82B
$2.46M 0.14%
200,000
+100,000
+100% +$1.41M
ZNTL icon
105
Zentalis Pharmaceuticals
ZNTL
$302M
$2.38M 0.13%
+1,500,000
New +$3.23M
TBPH icon
106
Theravance Biopharma
TBPH
$877M
$2.35M 0.13%
262,896
– –
BRK.B icon
107
Berkshire Hathaway Class B
BRK.B
$1.13T
$2.34M 0.13%
4,401
+1,302
+42% +$633K
DFTX
108
Definium Therapeutics
DFTX
$6.12B
$2.34M 0.13%
400,200
+200,200
+100% +$1.43M
V icon
109
Visa
V
$677B
$2.3M 0.13%
6,570
+1,852
+39% +$627K
SEER icon
110
Seer Inc
SEER
$120M
$2.19M 0.12%
1,294,423
-900,000
-41% -$1.96M
JPM icon
111
JPMorgan Chase
JPM
$950B
$2.17M 0.12%
8,854
+2,253
+34% +$574K
VZ icon
112
Verizon
VZ
$196B
$2.14M 0.12%
47,153
+16,276
+53% +$678K
KO icon
113
Coca-Cola
KO
$375B
$2.13M 0.12%
29,762
+10,048
+51% +$671K
IDXX icon
114
Idexx Laboratories
IDXX
$46.2B
$2.1M 0.12%
5,000
– –
WMT icon
115
Walmart Inc
WMT
$890B
$2.09M 0.12%
23,802
+6,379
+37% +$598K
JNJ icon
116
Johnson & Johnson
JNJ
$625B
$2.03M 0.11%
12,243
+4,284
+54% +$670K
ATYR
117
aTyr Pharma
ATYR
$50.1M
$2.03M 0.11%
671,134
– –
PG icon
118
Procter & Gamble
PG
$339B
$2.01M 0.11%
11,813
+3,851
+48% +$645K
ALLK
119
DELISTED
Allakos
ALLK
$1.98M 0.11%
8,693,687
+8,315,135
+2,197% +$3.76M
XOM icon
120
ExxonMobil
XOM
$634B
$1.97M 0.11%
16,597
+5,544
+50% +$613K
ALXO icon
121
ALX Oncology
ALXO
$290M
$1.97M 0.11%
3,158,265
-138,618
-4% -$166K
BLUE
122
DELISTED
bluebird bio
BLUE
$1.95M 0.11%
+400,000
New +$2.41M
INTC icon
123
Intel
INTC
$513B
$1.93M 0.11%
84,945
+28,948
+52% +$633K
UNH icon
124
UnitedHealth
UNH
$370B
$1.85M 0.1%
3,541
+1,233
+53% +$630K
DIS icon
125
Walt Disney
DIS
$181B
$1.84M 0.1%
18,626
+5,531
+42% +$594K
3 4
5
6 7

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Tang Capital Management's Q1 2025 Portfolio in Review

As of Q1 2025, Tang Capital Management held 208 positions worth $1.81B, up 20% from $1.51B the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Tang Capital Management deployed $503M of net new capital in Q1 2025, opening 25 new positions and adding to 78 existing holdings. Its largest new stake was Spyre Therapeutics: 2,050,000 shares worth $33.1M.

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

On the sell side, the largest reduction was Intra-Cellular Therapies Inc., an estimated $9.97M trimmed.

  • Tang Capital Management's largest Q1 2025 buy was Spyre Therapeutics: 2,050,000 shares worth $33.1M.
  • Tang Capital Management added most to Dynavax Technologies in Q1 2025, an estimated $51.6M increase.
  • Tang Capital Management's biggest Q1 2025 reduction was Intra-Cellular Therapies Inc., cutting an estimated $9.97M.
  • Tang Capital Management fully exited Singular Genomics Systems, Inc. Common Stock in Q1 2025, selling an estimated $7.23M.
  • Tang Capital Management's ten largest holdings make up 39% of its $1.81B portfolio in Q1 2025.
  • Tang Capital Management opened 25 new positions and closed 6 in Q1 2025.
  • Tang Capital Management's portfolio value rose 20% quarter-over-quarter to $1.81B.

Based on Tang Capital Management's 13F filing for Q1 2025, filed 15 May 2025.