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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
+18.58%
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
$206M
AUM Growth
+$63.2M
Cap. Flow
-$2.29M
Cap. Flow %
-1.11%
Top 10 Hldgs %
99.9%
Holding
16
New
3
Increased
1
Reduced
2
Closed
3

Top Buys

Rank Stock Value
1
HRTX icon
Heron Therapeutics
HRTX
+$58.9M
2
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$11.3M
3
MNKD icon
MannKind Corp
MNKD
+$4.15M
4
LJPC
La Jolla Pharmaceutical Company
LJPC
+$110K

Top Sells

Rank Stock Value
1
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$10.4M
2
ACHV icon
Achieve Life Sciences
ACHV
+$8.62M
3
SPHS
Sophiris Bio, Inc.
SPHS
+$1.85M
4
OPK icon
Opko Health
OPK
+$94K
5
DNDN
DENDREON CORPORATION
DNDN
+$71.2K

Sector Composition

Rank Sector Weight
1 Healthcare 56.12%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HRTX icon
1
Heron Therapeutics
HRTX
$86.3M
$61.3M 29.74%
+4,408,987
New +$58.9M
SLXP
2
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
$31.1M 15.07%
300,000
– –
HZNP
3
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$15.1M 7.33%
+1,000,000
New +$11.3M
BMRN icon
4
BioMarin Pharmaceuticals
BMRN
$11.5B
$12.4M 6.03%
182,300
– –
ECYT
5
DELISTED
Endocyte, Inc. Common Stock
ECYT
$11.1M 5.38%
465,763
– –
MRTX
6
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$8.31M 4.03%
435,843
-502,700
-54% -$10.4M
MNKD icon
7
MannKind Corp
MNKD
$1.28B
$7.24M 3.51%
360,000
+145,916
+68% +$4.15M
DNDN
8
DELISTED
DENDREON CORPORATION
DNDN
$166K 0.08%
55,548
-24,052
-30% -$71.2K
LJPC
9
DELISTED
La Jolla Pharmaceutical Company
LJPC
$121K 0.06%
+11,219
New +$110K
PHIO icon
10
Phio Pharmaceuticals
PHIO
$12.1M
– –
0
– –
ACHV icon
11
Achieve Life Sciences
ACHV
$626M
– –
-470
Closed -$8.62M
OPK icon
12
Opko Health
OPK
$921M
– –
-11,195
Closed -$94K
AMBI
13
DELISTED
Ambit Biosciences Corp
AMBI
$0 ﹤0.01%
46
– –
SPHS
14
DELISTED
Sophiris Bio, Inc.
SPHS
– –
-500,000
Closed -$1.85M

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Tang Capital Management's Q1 2014 Portfolio in Review

As of Q1 2014, Tang Capital Management held 16 positions worth $206M, up 44% from $143M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Tang Capital Management's Q1 2014 filing shows 3 new, 1 increased, 2 reduced and 3 closed positions. Its largest new stake was Heron Therapeutics: 4,408,987 shares worth $61.3M. The largest sale was Mirati Therapeutics, Inc. Common Stock, an estimated $10.4M.

By sector, the portfolio is most concentrated in Healthcare at 56% of assets, up from 35% a quarter earlier.

  • Tang Capital Management's largest Q1 2014 buy was Heron Therapeutics: 4,408,987 shares worth $61.3M.
  • Tang Capital Management added most to MannKind Corp in Q1 2014, an estimated $4.15M increase.
  • Tang Capital Management's biggest Q1 2014 reduction was Mirati Therapeutics, Inc. Common Stock, cutting an estimated $10.4M.
  • Tang Capital Management fully exited Achieve Life Sciences in Q1 2014, selling an estimated $8.62M.
  • Tang Capital Management's ten largest holdings make up 100% of its $206M portfolio in Q1 2014.
  • Tang Capital Management opened 3 new positions and closed 3 in Q1 2014.
  • Tang Capital Management's portfolio value rose 44% quarter-over-quarter to $206M.

Based on Tang Capital Management's 13F filing for Q1 2014, filed 15 May 2014.