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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
+2.99%
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
$671M
AUM Growth
-$17.2M
Cap. Flow
+$158M
Cap. Flow %
23.52%
Top 10 Hldgs %
38.66%
Holding
127
New
38
Increased
29
Reduced
15
Closed
24

Top Buys

Rank Stock Value
1
BLUE
bluebird bio
BLUE
+$30M
2
FRC
First Republic Bank
FRC
+$28.6M
3
EOLS icon
Evolus
EOLS
+$21.6M
4
NVO
Novo Nordisk
NVO
+$19.1M
5
ACET icon
Adicet Bio
ACET
+$15.1M

Top Sells

Rank Stock Value
1
ANAB icon
AnaptysBio
ANAB
+$14.5M
2
ALNY icon
Alnylam Pharmaceuticals
ALNY
+$12.6M
3
ALBO
Albireo Pharma Inc
ALBO
+$8.9M
4
HRTX icon
Heron Therapeutics
HRTX
+$8.03M
5
CNCE
Concert Pharmaceuticals, Inc.
CNCE
+$6.72M

Sector Composition

Rank Sector Weight
1 Healthcare 91.26%
2 Financials 6.75%
3 Real Estate 0.31%
4 Consumer Discretionary 0.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
MTCR
126
DELISTED
Metacrine, Inc. Common Stock
MTCR
– –
-4,250,000
Closed -$1.9M
CTIC
127
DELISTED
CTI BioPharma Corp. (DE) Common Stock
CTIC
– –
-300,000
Closed -$1.8M
2 3 4 5
6

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Tang Capital Management's Q1 2023 Portfolio in Review

As of Q1 2023, Tang Capital Management held 127 positions worth $671M, down 2.5% from $688M the previous quarter. Its ten largest holdings account for 39% of the portfolio.

Tang Capital Management deployed $158M of net new capital in Q1 2023, opening 38 new positions and adding to 29 existing holdings. Its largest new stake was First Republic Bank: 278,759 shares worth $3.9M.

By sector, the portfolio is most concentrated in Healthcare at 91% of assets, down from 98% a quarter earlier, followed by Financials and Real Estate.

On the sell side, the largest reduction was AnaptysBio, an estimated $14.5M trimmed.

  • Tang Capital Management's largest Q1 2023 buy was First Republic Bank: 278,759 shares worth $3.9M.
  • Tang Capital Management added most to bluebird bio in Q1 2023, an estimated $30M increase.
  • Tang Capital Management's biggest Q1 2023 reduction was AnaptysBio, cutting an estimated $14.5M.
  • Tang Capital Management fully exited Albireo Pharma Inc in Q1 2023, selling an estimated $8.9M.
  • Tang Capital Management's ten largest holdings make up 39% of its $671M portfolio in Q1 2023.
  • Tang Capital Management opened 38 new positions and closed 24 in Q1 2023.
  • Tang Capital Management's portfolio value fell 2.5% quarter-over-quarter to $671M.

Based on Tang Capital Management's 13F filing for Q1 2023, filed 15 May 2023.