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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
-17.37%
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
$712M
AUM Growth
-$125M
Cap. Flow
+$71.3M
Cap. Flow %
10.01%
Top 10 Hldgs %
91.51%
Holding
30
New
13
Increased
4
Reduced
2
Closed
5

Top Buys

Rank Stock Value
1
BIO icon
Bio-Rad Laboratories Class A
BIO
+$29.4M
2
LJPC
La Jolla Pharmaceutical Company
LJPC
+$19.8M
3
UTHR icon
United Therapeutics
UTHR
+$19.8M
4
SGMO
SANGAMO THERAPEUTICS INC
SGMO
+$15.1M
5
EGRX
Eagle Pharmaceuticals, Inc.
EGRX
+$12.8M

Top Sells

Rank Stock Value
1
HRTX icon
Heron Therapeutics
HRTX
+$39.9M
2
REGN icon
Regeneron Pharmaceuticals
REGN
+$16.9M
3
BMY icon
Bristol-Myers Squibb
BMY
+$7.18M
4
ISEE
IVERIC bio, Inc. Common Stock
ISEE
+$2.15M
5
NCNA
NuCana
NCNA
+$825K

Sector Composition

Rank Sector Weight
1 Healthcare 98.74%
2 Industrials 0.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ODT
1
DELISTED
Odonate Therapeutics, Inc. Common Stock
ODT
$389M 54.57%
14,075,269
– –
RLMD icon
2
Relmada Therapeutics
RLMD
$539M
$44.3M 6.23%
1,300,000
– –
RCKT icon
3
Rocket Pharmaceuticals
RCKT
$345M
$41.4M 5.81%
2,965,485
– –
HRTX icon
4
Heron Therapeutics
HRTX
$91.1M
$34M 4.78%
2,896,904
-2,120,299
-42% -$39.9M
LJPC
5
DELISTED
La Jolla Pharmaceutical Company
LJPC
$33.9M 4.77%
8,080,345
+3,141,452
+64% +$19.8M
ANAB icon
6
AnaptysBio
ANAB
$1.56B
$32.4M 4.55%
2,290,827
+447,013
+24% +$6.78M
BIO icon
7
Bio-Rad Laboratories Class A
BIO
$8.79B
$28M 3.94%
+80,000
New +$29.4M
UTHR icon
8
United Therapeutics
UTHR
$26.2B
$19.8M 2.78%
+208,415
New +$19.8M
TECX
9
Tectonic Therapeutic
TECX
$558M
$15.6M 2.18%
83,333
– –
EOLS icon
10
Evolus
EOLS
$405M
$13.7M 1.92%
3,295,000
+660,000
+25% +$5.59M
SGMO
11
DELISTED
SANGAMO THERAPEUTICS INC
SGMO
$12.9M 1.82%
+2,032,980
New +$15.1M
EGRX
12
DELISTED
Eagle Pharmaceuticals, Inc.
EGRX
$11.8M 1.65%
+255,616
New +$12.8M
PBYI icon
13
Puma Biotechnology
PBYI
$395M
$6.75M 0.95%
800,000
+450,600
+129% +$4.38M
CHRS icon
14
Coherus Oncology
CHRS
$221M
$5.68M 0.8%
+350,000
New +$6.47M
LSACU
15
DELISTED
LifeSci Acquisition Corp. Unit 1 COM & 1 WT
LSACU
$5M 0.7%
+500,000
New +$4.95M
PRTA icon
16
Prothena Corp
PRTA
$439M
$4.54M 0.64%
423,823
– –
RDUS
17
DELISTED
Radius Health, Inc.
RDUS
$3.9M 0.55%
+300,000
New +$5.35M
VNDA icon
18
Vanda Pharmaceuticals
VNDA
$308M
$3.11M 0.44%
+299,800
New +$3.72M
CTMX icon
19
CytomX Therapeutics
CTMX
$686M
$2.3M 0.32%
+300,000
New +$2.09M
GTHX
20
DELISTED
G1 Therapeutics, Inc. Common Stock
GTHX
$1.87M 0.26%
170,000
– –
ENTA icon
21
Enanta Pharmaceuticals
ENTA
$365M
$693K 0.1%
+13,483
New +$719K
ITCI
22
DELISTED
Intra-Cellular Therapies Inc.
ITCI
$637K 0.09%
+41,444
New +$900K
CMRX
23
DELISTED
Chimerix, Inc.
CMRX
$621K 0.09%
+431,273
New +$755K
NCNA
24
NuCana
NCNA
$5.24M
$583K 0.08%
20
-30
-60% -$825K
UPS icon
25
United Parcel Service
UPS
$89.8B
$93K 0.01%
+1,000
New +$104K
1
2

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Tang Capital Management's Q1 2020 Portfolio in Review

As of Q1 2020, Tang Capital Management held 30 positions worth $712M, down 15% from $837M the previous quarter. Its ten largest holdings account for 92% of the portfolio.

Tang Capital Management deployed $71.3M of net new capital in Q1 2020, opening 13 new positions and adding to 4 existing holdings. Its largest new stake was Bio-Rad Laboratories Class A: 80,000 shares worth $28M.

By sector, the portfolio is most concentrated in Healthcare at 99% of assets, down from 100% a quarter earlier, followed by Industrials.

On the sell side, the largest reduction was Heron Therapeutics, an estimated $39.9M trimmed.

  • Tang Capital Management's largest Q1 2020 buy was Bio-Rad Laboratories Class A: 80,000 shares worth $28M.
  • Tang Capital Management added most to La Jolla Pharmaceutical Company in Q1 2020, an estimated $19.8M increase.
  • Tang Capital Management's biggest Q1 2020 reduction was Heron Therapeutics, cutting an estimated $39.9M.
  • Tang Capital Management fully exited Regeneron Pharmaceuticals in Q1 2020, selling an estimated $16.9M.
  • Tang Capital Management's ten largest holdings make up 92% of its $712M portfolio in Q1 2020.
  • Tang Capital Management opened 13 new positions and closed 5 in Q1 2020.
  • Tang Capital Management's portfolio value fell 15% quarter-over-quarter to $712M.

Based on Tang Capital Management's 13F filing for Q1 2020, filed 15 May 2020.