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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
+10.56%
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
$1.98B
AUM Growth
+$171M
Cap. Flow
+$109M
Cap. Flow %
5.49%
Top 10 Hldgs %
35.03%
Holding
220
New
18
Increased
34
Reduced
52
Closed
20

Top Buys

Rank Stock Value
1
VERA icon
Vera Therapeutics
VERA
+$27M
2
MRUS
Merus
MRUS
+$23.5M
3
MTD icon
Mettler-Toledo International
MTD
+$21.8M
4
BA icon
Boeing
BA
+$18.8M
5
SRPT icon
Sarepta Therapeutics
SRPT
+$17.9M

Top Sells

Rank Stock Value
1
DVAX
Dynavax Technologies
DVAX
+$40M
2
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$29M
3
SLRN
ACELYRIN
SLRN
+$24.3M
4
ONC
BeOne Medicines Ltd
ONC
+$10.1M
5
CRSP icon
CRISPR Therapeutics
CRSP
+$9.07M

Sector Composition

Rank Sector Weight
1 Healthcare 94.16%
2 Technology 1.37%
3 Industrials 1.32%
4 Communication Services 1.26%
5 Consumer Discretionary 0.8%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NMRA icon
151
Neumora Therapeutics
NMRA
$302M
$1.03M 0.05%
1,400,000
– –
ALGS icon
152
Aligos Therapeutics
ALGS
$34.9M
$1.02M 0.05%
141,131
– –
AXP icon
153
American Express
AXP
$230B
$1.01M 0.05%
3,168
-498
-14% -$140K
AAT
154
American Assets Trust
AAT
$1.4B
$988K 0.05%
50,000
– –
KLRS
155
Kalaris Therapeutics
KLRS
$96.8M
$963K 0.05%
360,859
+51,638
+17% +$233K
BOLT icon
156
Bolt Biotherapeutics
BOLT
$7.78M
$963K 0.05%
166,879
-23,760
-12% -$157K
ENTA icon
157
Enanta Pharmaceuticals
ENTA
$400M
$958K 0.05%
126,655
– –
AMZN icon
158
Amazon
AMZN
$2.96T
$947K 0.05%
4,314
-581
-12% -$115K
TPST icon
159
Tempest Therapeutics
TPST
$14.6M
$945K 0.05%
+138,962
New +$988K
TMUS icon
160
T-Mobile US
TMUS
$190B
$904K 0.05%
3,796
-532
-12% -$130K
ALL icon
161
Allstate
ALL
$67.5B
$903K 0.05%
4,488
-624
-12% -$124K
CRBP icon
162
Corbus Pharmaceuticals
CRBP
$190M
$880K 0.04%
127,520
– –
PAYX icon
163
Paychex
PAYX
$42.7B
$880K 0.04%
6,048
-640
-10% -$96.4K
TCRX icon
164
TScan Therapeutics
TCRX
$52M
$870K 0.04%
600,000
– –
MCD icon
165
McDonald's
MCD
$195B
$854K 0.04%
2,925
-303
-9% -$93.4K
HRL icon
166
Hormel Foods
HRL
$13.8B
$850K 0.04%
28,094
-2,370
-8% -$71.5K
UNH icon
167
UnitedHealth
UNH
$370B
$849K 0.04%
2,721
-820
-23% -$313K
HPE icon
168
Hewlett Packard
HPE
$70.5B
$818K 0.04%
40,002
-4,545
-10% -$76.2K
F icon
169
Ford
F
$55.7B
$818K 0.04%
75,380
-6,347
-8% -$64.6K
CBIO
170
Crescent Biopharma
CBIO
$626M
$809K 0.04%
+50,152
New +$1.06M
SHW icon
171
Sherwin-Williams
SHW
$89.8B
$805K 0.04%
2,343
-305
-12% -$106K
UAL icon
172
United Airlines
UAL
$42.1B
$801K 0.04%
10,065
-1,928
-16% -$142K
WHR icon
173
Whirlpool
WHR
$2.82B
$766K 0.04%
7,553
-610
-7% -$50.7K
SEE
174
DELISTED
Sealed Air
SEE
$757K 0.04%
24,400
-2,546
-9% -$75.7K
APLT
175
DELISTED
Applied Therapeutics
APLT
$755K 0.04%
2,428,169
– –
5 6
7
8 9

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FFH
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Tang Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Tang Capital Management held 220 positions worth $1.98B, up 9.4% from $1.81B the previous quarter. Its ten largest holdings account for 35% of the portfolio.

Tang Capital Management deployed $109M of net new capital in Q2 2025, opening 18 new positions and adding to 34 existing holdings. Its largest new stake was Mettler-Toledo International: 19,500 shares worth $22.9M.

By sector, the portfolio is most concentrated in Healthcare at 94% of assets, down from 95% a quarter earlier, followed by Technology and Industrials.

On the sell side, the largest reduction was Dynavax Technologies, an estimated $40M trimmed.

  • Tang Capital Management's largest Q2 2025 buy was Mettler-Toledo International: 19,500 shares worth $22.9M.
  • Tang Capital Management added most to Vera Therapeutics in Q2 2025, an estimated $27M increase.
  • Tang Capital Management's biggest Q2 2025 reduction was Dynavax Technologies, cutting an estimated $40M.
  • Tang Capital Management fully exited Intra-Cellular Therapies Inc. in Q2 2025, selling an estimated $29M.
  • Tang Capital Management's ten largest holdings make up 35% of its $1.98B portfolio in Q2 2025.
  • Tang Capital Management opened 18 new positions and closed 20 in Q2 2025.
  • Tang Capital Management's portfolio value rose 9.4% quarter-over-quarter to $1.98B.

Based on Tang Capital Management's 13F filing for Q2 2025, filed 14 Aug 2025.