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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
SPRY icon
126
ARS Pharmaceuticals
SPRY
$612M
– –
-409,463
Closed -$2.24M
STEL
127
DELISTED
Stellar Bancorp
STEL
– –
-20,000
Closed -$557K
STIM icon
128
Neuronetics
STIM
$166M
– –
-200,000
Closed -$580K
SWTX
129
DELISTED
SpringWorks Therapeutics
SWTX
– –
-100,000
Closed -$3.65M
TLPH icon
130
Talphera
TLPH
$74.2M
– –
-195,000
Closed -$143K
TNGX icon
131
Tango Therapeutics
TNGX
$4.41B
– –
-200,000
Closed -$1.98M
TRVI icon
132
Trevi Therapeutics
TRVI
$2.64B
– –
-300,000
Closed -$402K
USB icon
133
US Bancorp
USB
$99.6B
– –
-100,000
Closed -$4.33M
VBTX
134
DELISTED
Veritex Holdings
VBTX
– –
-210,000
Closed -$4.89M
WGS icon
135
GeneDx Holdings
WGS
$2.3B
– –
-63,636
Closed -$175K
XERS icon
136
Xeris Biopharma Holdings
XERS
$1.45B
– –
-150,000
Closed -$353K
SYRS
137
DELISTED
Syros Pharmaceuticals, Inc. Common Stock
SYRS
– –
-85,031
Closed -$662K
CBAY
138
DELISTED
Cymabay Therapeutics
CBAY
– –
-350,000
Closed -$8.27M
LIAN
139
DELISTED
LianBio American Depositary Shares
LIAN
– –
-9,366,783
Closed -$41.9M
KRTX
140
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
– –
-10,000
Closed -$3.17M
GRCL
141
DELISTED
Gracell Biotechnologies Inc. American Depositary Shares
GRCL
– –
-2,191,417
Closed -$22M
THRX
142
DELISTED
Theseus Pharmaceuticals, Inc. Common Stock
THRX
– –
-3,255,026
Closed -$13.2M
IMGN
143
DELISTED
Immunogen Inc
IMGN
– –
-2,199,137
Closed -$65.2M
TSP
144
DELISTED
TuSimple Holdings Inc. Class A Common Stock
TSP
– –
-1,000,000
Closed -$878K
RAIN
145
DELISTED
Rain Oncology Inc. Common Stock
RAIN
– –
-3,850,513
Closed -$4.62M
MRTX
146
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
– –
-1,558,059
Closed -$91.5M
2 3 4 5
6

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NIM
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RMCM
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SC
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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.