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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
MSFT icon
126
Microsoft
MSFT
$3.71T
$1.81M 0.1%
4,825
+1,412
+41% +$576K
HD icon
127
Home Depot
HD
$355B
$1.78M 0.1%
4,850
+1,497
+45% +$583K
CDNA icon
128
CareDx
CDNA
$2.42B
$1.77M 0.1%
100,000
– –
TXN icon
129
Texas Instruments
TXN
$261B
$1.76M 0.1%
9,775
+3,207
+49% +$600K
OKUR
130
OnKure Therapeutics
OKUR
$168M
$1.72M 0.1%
400,000
+105,374
+36% +$593K
PFE icon
131
Pfizer
PFE
$153B
$1.69M 0.09%
66,800
+23,892
+56% +$625K
ERAS icon
132
Erasca
ERAS
$6.39B
$1.63M 0.09%
1,190,012
+587,097
+97% +$1.01M
VSTM icon
133
Verastem
VSTM
$610M
$1.63M 0.09%
270,000
– –
NKE icon
134
Nike
NKE
$61.9B
$1.57M 0.09%
24,764
+8,975
+57% +$661K
BOLT icon
135
Bolt Biotherapeutics
BOLT
$7.78M
$1.53M 0.08%
190,639
– –
FATE icon
136
Fate Therapeutics
FATE
$326M
$1.48M 0.08%
1,867,773
+11,819
+0.6% +$14.5K
VTRS icon
137
Viatris
VTRS
$18.9B
$1.47M 0.08%
168,979
+54,663
+48% +$574K
PYPL icon
138
PayPal
PYPL
$50.5B
$1.44M 0.08%
22,108
+6,394
+41% +$498K
CCCC icon
139
C4 Therapeutics
CCCC
$412M
$1.44M 0.08%
900,000
– –
NMRA icon
140
Neumora Therapeutics
NMRA
$302M
$1.4M 0.08%
+1,400,000
New +$2.4M
ELEV
141
DELISTED
Elevation Oncology
ELEV
$1.23M 0.07%
4,760,000
– –
CLYM
142
Climb Bio
CLYM
$804M
$1.22M 0.07%
+1,000,000
New +$1.62M
NFLX icon
143
Netflix
NFLX
$309B
$1.21M 0.07%
13,010
-430
-3% -$40.9K
APLT
144
DELISTED
Applied Therapeutics
APLT
$1.19M 0.07%
2,428,169
– –
ALGS icon
145
Aligos Therapeutics
ALGS
$34.9M
$1.16M 0.06%
+141,131
New +$3.09M
TMUS icon
146
T-Mobile US
TMUS
$190B
$1.15M 0.06%
4,328
-181
-4% -$44.6K
GE icon
147
GE Aerospace
GE
$384B
$1.14M 0.06%
5,675
-236
-4% -$46.4K
KRON
148
DELISTED
Kronos Bio
KRON
$1.11M 0.06%
1,345,413
+342,031
+34% +$329K
PYXS icon
149
Pyxis Oncology
PYXS
$236M
$1.08M 0.06%
+1,100,000
New +$1.47M
ALL icon
150
Allstate
ALL
$67.5B
$1.06M 0.06%
5,112
-207
-4% -$40.3K
4 5
6
7 8

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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.