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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
+95.46%
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
$655M
AUM Growth
+$102M
Cap. Flow
-$112M
Cap. Flow %
-17.03%
Top 10 Hldgs %
99.83%
Holding
24
New
4
Increased
2
Reduced
1
Closed
13

Top Buys

Rank Stock Value
1
APVO icon
Aptevo Therapeutics
APVO
+$48.7M
2
VINCU
Vincerx Pharma, Inc. Unit
VINCU
+$9.63M
3
ODT
Odonate Therapeutics, Inc. Common Stock
ODT
+$4.26M
4
EQ icon
Equillium
EQ
+$3.14M
5
CHRS icon
Coherus Oncology
CHRS
+$1.78M

Top Sells

Rank Stock Value
1
HRTX icon
Heron Therapeutics
HRTX
+$42.9M
2
BHVN
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
+$38.9M
3
BIO icon
Bio-Rad Laboratories Class A
BIO
+$20.6M
4
UTHR icon
United Therapeutics
UTHR
+$16.2M
5
SGMO
SANGAMO THERAPEUTICS INC
SGMO
+$14.9M

Sector Composition

Rank Sector Weight
1 Healthcare 98.36%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ODT
1
DELISTED
Odonate Therapeutics, Inc. Common Stock
ODT
$298M 45.48%
15,514,566
+275,784
+2% +$4.26M
RCKT icon
2
Rocket Pharmaceuticals
RCKT
$355M
$163M 24.83%
2,965,485
– –
APVO icon
3
Aptevo Therapeutics
APVO
$5.25M
$64.5M 9.85%
+3
New +$48.7M
ANAB icon
4
AnaptysBio
ANAB
$1.59B
$56.5M 8.63%
2,628,678
– –
LJPC
5
DELISTED
La Jolla Pharmaceutical Company
LJPC
$36.5M 5.57%
9,405,490
– –
CHRS icon
6
Coherus Oncology
CHRS
$225M
$11.3M 1.72%
650,000
+100,000
+18% +$1.78M
VINCU
7
DELISTED
Vincerx Pharma, Inc. Unit
VINCU
$9.63M 1.47%
+500,000
New +$9.63M
RLMD icon
8
Relmada Therapeutics
RLMD
$546M
$6.41M 0.98%
200,000
-300,000
-60% -$10.3M
TNGX icon
9
Tango Therapeutics
TNGX
$4.35B
$5.36M 0.82%
468,750
– –
EQ icon
10
Equillium
EQ
$156M
$3.21M 0.49%
+600,000
New +$3.14M
VINCW
11
DELISTED
Vincerx Pharma, Inc. Warrant
VINCW
$1.09M 0.17%
+330,205
New +$1.1M
BIO icon
12
Bio-Rad Laboratories Class A
BIO
$8.47B
– –
-40,000
Closed -$20.6M
CTMX icon
13
CytomX Therapeutics
CTMX
$708M
– –
-112,880
Closed -$751K
HRTX icon
14
Heron Therapeutics
HRTX
$86.9M
– –
-2,896,904
Closed -$42.9M
PBYI icon
15
Puma Biotechnology
PBYI
$407M
– –
-1,246,121
Closed -$12.6M
PRTA icon
16
Prothena Corp
PRTA
$455M
– –
-178,688
Closed -$1.78M
SGMO
17
DELISTED
SANGAMO THERAPEUTICS INC
SGMO
– –
-1,578,795
Closed -$14.9M
TENX icon
18
Tenax Therapeutics
TENX
$429M
– –
-288
Closed -$708K
UTHR icon
19
United Therapeutics
UTHR
$26.3B
– –
-160,000
Closed -$16.2M
VNDA icon
20
Vanda Pharmaceuticals
VNDA
$314M
– –
-191,426
Closed -$1.85M
TECX
21
Tectonic Therapeutic
TECX
$578M
– –
-58,333
Closed -$9.11M
EGRX
22
DELISTED
Eagle Pharmaceuticals, Inc.
EGRX
– –
-62,262
Closed -$2.65M
LSACU
23
DELISTED
LifeSci Acquisition Corp. Unit 1 COM & 1 WT
LSACU
– –
-500,000
Closed -$6.8M
BHVN
24
DELISTED
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
– –
-599,091
Closed -$38.9M

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NIM
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Tang Capital Management's Q4 2020 Portfolio in Review

As of Q4 2020, Tang Capital Management held 24 positions worth $655M, up 19% from $553M the previous quarter. Its ten largest holdings account for 100% of the portfolio.

Tang Capital Management withdrew a net $112M in Q4 2020, closing 13 positions and reducing 1 holding. Its most notable exit was Heron Therapeutics, an estimated $42.9M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 98% of assets, down from 99% a quarter earlier.

Against the trend, Tang Capital Management opened a new position in Aptevo Therapeutics worth $64.5M.

  • Tang Capital Management's largest Q4 2020 buy was Aptevo Therapeutics: 3 shares worth $64.5M.
  • Tang Capital Management added most to Odonate Therapeutics, Inc. Common Stock in Q4 2020, an estimated $4.26M increase.
  • Tang Capital Management's biggest Q4 2020 reduction was Relmada Therapeutics, cutting an estimated $10.3M.
  • Tang Capital Management fully exited Heron Therapeutics in Q4 2020, selling an estimated $42.9M.
  • Tang Capital Management's ten largest holdings make up 100% of its $655M portfolio in Q4 2020.
  • Tang Capital Management opened 4 new positions and closed 13 in Q4 2020.
  • Tang Capital Management's portfolio value rose 19% quarter-over-quarter to $655M.

Based on Tang Capital Management's 13F filing for Q4 2020, filed 16 Feb 2021.