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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
(+53%)
Cap. Flow
+$212M
Cap. Flow
% of AUM
19.62%
Top 10 Holdings %
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 |
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 |
NovoCure
NVCR
|
+$7.95M |
| 4 |
BLUE
bluebird bio
BLUE
|
+$7.87M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
126
Journey Medical
DERM
$177M
| – | – |
-576,100
| Closed | -$1.58M |
|
|
LKFT
127
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.77B
| – | – |
-89,650
| Closed | -$3.1M |
|
|
ISPO
128
DELISTED
Inspirato
ISPO
| – | – |
-43,779
| Closed | -$517K |
|
129
Invivyd
IVVD
$218M
| – | – |
-366,536
| Closed | -$623K |
|
|
130
NovoCure
NVCR
$1.91B
| – | – |
-492,100
| Closed | -$7.95M |
|
131
TransCode Therapeutics
RNAZ
$4.19M
| – | – |
-2
| Closed | -$42.2K |
|
|
THRD
132
DELISTED
Third Harmonic Bio
THRD
| – | – |
-1,800,000
| Closed | -$11.5M |
|
|
TECX
133
Tectonic Therapeutic
TECX
$606M
| – | – |
-292,724
| Closed | -$5.41M |
|
|
NEUP
134
Neuphoria Therapeutics
NEUP
$20.6M
| – | – |
-58,333
| Closed | -$1.89M |
|
|
ASLN
135
DELISTED
ASLAN Pharmaceuticals Limited American Depositary Shares
ASLN
| – | – |
-237,694
| Closed | -$3.57M |
|
|
EQRX
136
DELISTED
EQRx, Inc. Common Stock
EQRX
| – | – |
-10,086,110
| Closed | -$22.4M |
|
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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.