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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
STRO icon
201
Sutro Biopharma
STRO
$421M
$130K 0.01%
+20,000
New +$315K
AFMD
202
DELISTED
Affimed
AFMD
$107K 0.01%
148,315
– –
EDIT icon
203
Editas Medicine
EDIT
$442M
– –
-400,000
Closed -$508K
IMRX icon
204
Immuneering
IMRX
$292M
– –
-12,073
Closed -$26.6K
RLMD icon
205
Relmada Therapeutics
RLMD
$527M
– –
-200,825
Closed -$104K
ALMS
206
Alumis Inc
ALMS
$3.52B
– –
-600,000
Closed -$4.72M
OMIC
207
DELISTED
Singular Genomics Systems, Inc. Common Stock
OMIC
– –
-372,000
Closed -$7.23M
MRNS
208
DELISTED
Marinus Pharmaceuticals, Inc
MRNS
– –
-1,641,945
Closed -$879K
5 6 7 8
9

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RMCM
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FC
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SC
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BC
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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.