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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
HPE icon
176
Hewlett Packard
HPE
$70.5B
$687K 0.04%
44,547
-1,844
-4% -$36.7K
CRBP icon
177
Corbus Pharmaceuticals
CRBP
$190M
$677K 0.04%
127,520
-115,133
-47% -$1.02M
KURA icon
178
Kura Oncology
KURA
$850M
$660K 0.04%
100,000
– –
PBYI icon
179
Puma Biotechnology
PBYI
$454M
$592K 0.03%
200,000
– –
ATXS
180
DELISTED
Astria Therapeutics
ATXS
$534K 0.03%
100,000
– –
LXRX icon
181
Lexicon Pharmaceuticals
LXRX
$1.1B
$530K 0.03%
1,150,268
+300,000
+35% +$189K
PASG icon
182
Passage Bio
PASG
$14.1M
$530K 0.03%
75,000
– –
OTLK icon
183
Outlook Therapeutics
OTLK
$191M
$488K 0.03%
400,000
+217,498
+119% +$381K
RVPH
184
DELISTED
REVIVA PHARMA HLDGS INC
RVPH
$487K 0.03%
25,516
+17,016
+200% +$535K
BCAB icon
185
BioAtla
BCAB
$5.74M
$477K 0.03%
27,482
– –
ATRA icon
186
Atara Biotherapeutics
ATRA
$76.1M
$447K 0.02%
75,196
– –
LAB icon
187
Standard BioTools
LAB
$314M
$440K 0.02%
407,755
– –
IPSC icon
188
Century Therapeutics
IPSC
$361M
$428K 0.02%
900,000
– –
AMLX icon
189
Amylyx Pharmaceuticals
AMLX
$2.54B
$354K 0.02%
100,000
– –
FLNA
190
Filana Therapeutics
FLNA
$48.1M
$300K 0.02%
+200,000
New +$505K
GRAL
191
GRAIL Inc
GRAL
$3.1B
$289K 0.02%
11,300
-188,700
-94% -$5.83M
KOD icon
192
Kodiak Sciences
KOD
$2.84B
$281K 0.02%
+100,000
New +$544K
MGNX icon
193
MacroGenics
MGNX
$257M
$278K 0.02%
218,856
– –
QNCX icon
194
Quince Therapeutics
QNCX
$29.5M
$245K 0.01%
+922
New +$282K
IVVD icon
195
Invivyd
IVVD
$218M
$242K 0.01%
400,000
+69,828
+21% +$62.6K
NXTC icon
196
NextCure
NXTC
$26.7M
$194K 0.01%
33,679
-24,654
-42% -$217K
MGX icon
197
Metagenomi Therapeutics
MGX
$46.3M
$184K 0.01%
+134,978
New +$322K
JBIO
198
Jade Biosciences
JBIO
$1.34B
$175K 0.01%
+1,993
New +$175K
LONA
199
LeonaBio Inc
LONA
$72.1M
$171K 0.01%
60,000
– –
MCRB icon
200
Seres Therapeutics
MCRB
$48.9M
$143K 0.01%
+10,195
New +$160K
5 6 7
8
9

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BC
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FFH
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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.