We are live on
!
Find out more
TCM
Tang Capital Management Portfolio holdings
AUM
$1.97B
1-Year Est. Return
125.1%
This Fund
S&P 500
This Quarter
Est. Return
+37.48%
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
$2.6B
AUM Growth
+$619M
(+31%)
Cap. Flow
+$158M
Cap. Flow
% of AUM
6.08%
Top 10 Holdings %
Top 10 Hldgs %
36.7%
Holding
210
New
10
Increased
28
Reduced
33
Closed
16
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Celcuity
CELC
|
+$46M |
| 2 |
Nike
NKE
|
+$37.3M |
| 3 |
Precigen
PGEN
|
+$35M |
| 4 |
Vertex Pharmaceuticals
VRTX
|
+$29.3M |
| 5 |
PTC Therapeutics
PTCT
|
+$20.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ITOS
iTeos Therapeutics
ITOS
|
+$38.2M |
| 2 |
Boeing
BA
|
+$23.1M |
| 3 |
Mettler-Toledo International
MTD
|
+$22M |
| 4 |
CRGX
CARGO Therapeutics
CRGX
|
+$12.6M |
| 5 |
Elanco Animal Health
ELAN
|
+$11.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 94.95% |
| 2 | Consumer Discretionary | 2.06% |
| 3 | Technology | 1.19% |
| 4 | Communication Services | 0.91% |
| 5 | Financials | 0.3% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
201
Galectin Therapeutics
GALT
$348M
| – | – |
-12,913
| Closed | -$27.2K |
|
|
HLVX
202
DELISTED
HilleVax
HLVX
| – | – |
-4,920,000
| Closed | -$9.79M |
|
|
ITOS
203
DELISTED
iTeos Therapeutics
ITOS
| – | – |
-3,826,692
| Closed | -$38.2M |
|
204
Seres Therapeutics
MCRB
$48.9M
| – | – |
-13,921
| Closed | -$155K |
|
205
Novavax
NVAX
$1.31B
| – | – |
-600,000
| Closed | -$3.78M |
|
|
SWTX
206
DELISTED
SpringWorks Therapeutics
SWTX
| – | – |
-74,265
| Closed | -$3.49M |
|
|
THRD
207
DELISTED
Third Harmonic Bio
THRD
| – | – |
-929,727
| Closed | -$5.05M |
|
208
Tempest Therapeutics
TPST
$14.6M
| – | – |
-138,962
| Closed | -$945K |
|
|
ACTU
209
Actuate Therapeutics
ACTU
$26.3M
| – | – |
-5,243
| Closed | -$32K |
|
|
MTSR
210
DELISTED
Metsera Inc
MTSR
| – | – |
-100,000
| Closed | -$2.85M |
|
Similar funds
HA
NIM
RMCM
FC
SC
CAM
BC
FFH
Tang Capital Management's Q3 2025 Portfolio in Review
As of Q3 2025, Tang Capital Management held 210 positions worth $2.6B, up 31% from $1.98B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
Tang Capital Management deployed $158M of net new capital in Q3 2025, opening 10 new positions and adding to 28 existing holdings. Its largest new stake was Celcuity: 1,150,000 shares worth $56.8M.
By sector, the portfolio is most concentrated in Healthcare at 95% of assets, up from 94% a quarter earlier, followed by Consumer Discretionary and Technology.
On the sell side, the largest reduction was Boeing, an estimated $23.1M trimmed.
- Tang Capital Management's largest Q3 2025 buy was Celcuity: 1,150,000 shares worth $56.8M.
- Tang Capital Management added most to Nike in Q3 2025, an estimated $37.3M increase.
- Tang Capital Management's biggest Q3 2025 reduction was Boeing, cutting an estimated $23.1M.
- Tang Capital Management fully exited iTeos Therapeutics in Q3 2025, selling an estimated $38.2M.
- Tang Capital Management's ten largest holdings make up 37% of its $2.6B portfolio in Q3 2025.
- Tang Capital Management opened 10 new positions and closed 16 in Q3 2025.
- Tang Capital Management's portfolio value rose 31% quarter-over-quarter to $2.6B.
Based on Tang Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.