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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
+40.92%
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
$837M
AUM Growth
+$252M
Cap. Flow
+$120M
Cap. Flow %
14.34%
Top 10 Hldgs %
97.79%
Holding
19
New
7
Increased
2
Reduced
3
Closed
2

Top Buys

Rank Stock Value
1
ANAB icon
AnaptysBio
ANAB
+$43.6M
2
RLMD icon
Relmada Therapeutics
RLMD
+$39.5M
3
EOLS icon
Evolus
EOLS
+$37.2M
4
REGN icon
Regeneron Pharmaceuticals
REGN
+$15.1M
5
BMY icon
Bristol-Myers Squibb
BMY
+$6.41M

Top Sells

Rank Stock Value
1
CELG
Celgene Corp
CELG
+$11.1M
2
HRTX icon
Heron Therapeutics
HRTX
+$11M
3
NCNA
NuCana
NCNA
+$1.69M
4
ISEE
IVERIC bio, Inc. Common Stock
ISEE
+$1.25M
5
CLRB icon
Cellectar Biosciences
CLRB
+$471K

Sector Composition

Rank Sector Weight
1 Healthcare 99.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ODT
1
DELISTED
Odonate Therapeutics, Inc. Common Stock
ODT
$457M 54.57%
14,075,269
– –
HRTX icon
2
Heron Therapeutics
HRTX
$86.3M
$118M 14.09%
5,017,203
-496,893
-9% -$11M
RCKT icon
3
Rocket Pharmaceuticals
RCKT
$348M
$67.5M 8.06%
2,965,485
– –
RLMD icon
4
Relmada Therapeutics
RLMD
$544M
$50.7M 6.06%
+1,300,000
New +$39.5M
EOLS icon
5
Evolus
EOLS
$394M
$32.1M 3.83%
+2,635,000
New +$37.2M
ANAB icon
6
AnaptysBio
ANAB
$1.6B
$30M 3.58%
+1,843,814
New +$43.6M
TECX
7
Tectonic Therapeutic
TECX
$573M
$20.1M 2.41%
83,333
+14,240
+21% +$2.75M
LJPC
8
DELISTED
La Jolla Pharmaceutical Company
LJPC
$19.4M 2.32%
4,938,893
– –
REGN icon
9
Regeneron Pharmaceuticals
REGN
$68.8B
$16.9M 2.02%
+45,000
New +$15.1M
BMY icon
10
Bristol-Myers Squibb
BMY
$127B
$7.18M 0.86%
+111,844
New +$6.41M
PRTA icon
11
Prothena Corp
PRTA
$458M
$6.71M 0.8%
423,823
– –
GTHX
12
DELISTED
G1 Therapeutics, Inc. Common Stock
GTHX
$4.49M 0.54%
170,000
+20,000
+13% +$468K
PBYI icon
13
Puma Biotechnology
PBYI
$406M
$3.06M 0.37%
349,400
– –
ISEE
14
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
$2.15M 0.26%
250,000
-350,000
-58% -$1.25M
NCNA
15
NuCana
NCNA
$5.37M
$1.52M 0.18%
50
-50
-50% -$1.69M
BMY.RT
16
DELISTED
Bristol-Myers Squibb Company Contingent Value Rights
BMY.RT
$337K 0.04%
+111,844
New +$291K
EIDX
17
DELISTED
Eidos Therapeutics, Inc. Common Stock
EIDX
$217K 0.03%
+3,783
New +$187K
CLRB icon
18
Cellectar Biosciences
CLRB
$19.3M
– –
-786
Closed -$471K
CELG
19
DELISTED
Celgene Corp
CELG
– –
-111,844
Closed -$11.1M

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NIM
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Tang Capital Management's Q4 2019 Portfolio in Review

As of Q4 2019, Tang Capital Management held 19 positions worth $837M, up 43% from $584M the previous quarter. Its ten largest holdings account for 98% of the portfolio.

Tang Capital Management deployed $120M of net new capital in Q4 2019, opening 7 new positions and adding to 2 existing holdings. Its largest new stake was AnaptysBio: 1,843,814 shares worth $30M.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, down from 100% a quarter earlier.

On the sell side, the largest reduction was Heron Therapeutics, an estimated $11M trimmed.

  • Tang Capital Management's largest Q4 2019 buy was AnaptysBio: 1,843,814 shares worth $30M.
  • Tang Capital Management added most to Tectonic Therapeutic in Q4 2019, an estimated $2.75M increase.
  • Tang Capital Management's biggest Q4 2019 reduction was Heron Therapeutics, cutting an estimated $11M.
  • Tang Capital Management fully exited Celgene Corp in Q4 2019, selling an estimated $11.1M.
  • Tang Capital Management's ten largest holdings make up 98% of its $837M portfolio in Q4 2019.
  • Tang Capital Management opened 7 new positions and closed 2 in Q4 2019.
  • Tang Capital Management's portfolio value rose 43% quarter-over-quarter to $837M.

Based on Tang Capital Management's 13F filing for Q4 2019, filed 14 Feb 2020.