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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
-14.55%
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
$500M
AUM Growth
+$2.67M
(+0.54%)
Cap. Flow
+$135M
Cap. Flow
% of AUM
26.95%
Top 10 Holdings %
Top 10 Hldgs %
57.76%
Holding
60
New
31
Increased
5
Reduced
6
Closed
7
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ITCI
Intra-Cellular Therapies Inc.
ITCI
|
+$36.4M |
| 2 |
Bio-Rad Laboratories Class A
BIO
|
+$24.1M |
| 3 |
LKFT
Lakefront Biotherapeutics American Depositary Shares
LKFT
|
+$15.3M |
| 4 |
ISPO
Inspirato
ISPO
|
+$15M |
| 5 |
ALBO
Albireo Pharma Inc
ALBO
|
+$13.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Heron Therapeutics
HRTX
|
+$29.7M |
| 2 |
Rocket Pharmaceuticals
RCKT
|
+$21.9M |
| 3 |
CCXI
ChemoCentryx, Inc.
CCXI
|
+$18.2M |
| 4 |
ODT
Odonate Therapeutics, Inc. Common Stock
ODT
|
+$17.2M |
| 5 |
ANI Pharmaceuticals
ANIP
|
+$7.46M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 95.05% |
| 2 | Consumer Discretionary | 1.95% |
| 3 | Financials | 0.44% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
1
AnaptysBio
ANAB
$1.63B
| $65M | 13.01% |
2,628,678
| – | – |
|
|
ITCI
2
DELISTED
Intra-Cellular Therapies Inc.
ITCI
| $42.8M | 8.57% |
+700,000
| New | +$36.4M |
|
|
LJPC
3
DELISTED
La Jolla Pharmaceutical Company
LJPC
| $41M | 8.21% |
9,607,934
| – | – |
|
|
ITOS
4
DELISTED
iTeos Therapeutics
ITOS
| $30.2M | 6.04% |
937,500
| – | – |
|
|
5
Bio-Rad Laboratories Class A
BIO
$8.52B
| $22.5M | 4.51% |
+40,000
| New | +$24.1M |
|
|
6
Heron Therapeutics
HRTX
$86.2M
| $21.3M | 4.26% |
3,720,000
-4,062,928
| -52% | -$29.7M |
|
|
7
Rocket Pharmaceuticals
RCKT
$360M
| $20.1M | 4.02% |
1,265,900
-1,265,900
| -50% | -$21.9M |
|
8
Altimmune
ALT
$576M
| $15.7M | 3.14% |
2,573,744
+973,744
| +61% | +$7.17M |
|
|
LKFT
9
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.84B
| $15.5M | 3.1% |
+250,000
| New | +$15.3M |
|
10
Harmony Biosciences
HRMY
$2.09B
| $14.6M | 2.92% |
+300,000
| New | +$12.2M |
|
|
ALBO
11
DELISTED
Albireo Pharma Inc
ALBO
| $14M | 2.79% |
+467,702
| New | +$13.7M |
|
12
Immunocore
IMCR
$1.77B
| $11.5M | 2.31% |
+385,600
| New | +$9.73M |
|
13
Coherus Oncology
CHRS
$227M
| $9.68M | 1.94% |
750,000
+100,000
| +15% | +$1.27M |
|
|
SRRA
14
DELISTED
Sierra Oncology, Inc. Common Stock
SRRA
| $9.62M | 1.92% |
+300,000
| New | +$8.61M |
|
|
KALV
15
DELISTED
KalVista Pharmaceuticals
KALV
| $9.55M | 1.91% |
+648,269
| New | +$9.31M |
|
|
ISPO
16
DELISTED
Inspirato
ISPO
| $8.5M | 1.7% |
+42,768
| New | +$15M |
|
|
TCRR
17
DELISTED
TCR2 Therapeutics Inc. Common Stock
TCRR
| $8.28M | 1.66% |
+3,000,000
| New | +$9.44M |
|
|
ALLK
18
DELISTED
Allakos
ALLK
| $7.54M | 1.51% |
1,323,393
| – | – |
|
|
BLUE
19
DELISTED
bluebird bio
BLUE
| $7.52M | 1.5% |
+77,500
| New | +$10.2M |
|
20
Ionis Pharmaceuticals
IONS
$9.3B
| $7.41M | 1.48% |
+200,000
| New | +$6.55M |
|
|
IMGN
21
DELISTED
Immunogen Inc
IMGN
| $7.14M | 1.43% |
1,500,000
| – | – |
|
22
Enanta Pharmaceuticals
ENTA
$379M
| $7.12M | 1.42% |
+100,000
| New | +$6.51M |
|
23
BioNTech
BNTX
$23.3B
| $6.82M | 1.36% |
+40,000
| New | +$6.72M |
|
24
Arcus Biosciences
RCUS
$3.57B
| $6.31M | 1.26% |
+200,000
| New | +$6.7M |
|
|
ATYR
25
aTyr Pharma
ATYR
$47.2M
| $5.96M | 1.19% |
1,113,453
| – | – |
|
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Tang Capital Management's Q1 2022 Portfolio in Review
As of Q1 2022, Tang Capital Management held 60 positions worth $500M, up 0.54% from $497M the previous quarter. Its ten largest holdings account for 58% of the portfolio.
Tang Capital Management deployed $135M of net new capital in Q1 2022, opening 31 new positions and adding to 5 existing holdings. Its largest new stake was Intra-Cellular Therapies Inc.: 700,000 shares worth $42.8M.
By sector, the portfolio is most concentrated in Healthcare at 95% of assets, up from 94% a quarter earlier, followed by Consumer Discretionary and Financials.
On the sell side, the largest reduction was Heron Therapeutics, an estimated $29.7M trimmed.
- Tang Capital Management's largest Q1 2022 buy was Intra-Cellular Therapies Inc.: 700,000 shares worth $42.8M.
- Tang Capital Management added most to Altimmune in Q1 2022, an estimated $7.17M increase.
- Tang Capital Management's biggest Q1 2022 reduction was Heron Therapeutics, cutting an estimated $29.7M.
- Tang Capital Management fully exited ChemoCentryx, Inc. in Q1 2022, selling an estimated $18.2M.
- Tang Capital Management's ten largest holdings make up 58% of its $500M portfolio in Q1 2022.
- Tang Capital Management opened 31 new positions and closed 7 in Q1 2022.
- Tang Capital Management's portfolio value rose 0.54% quarter-over-quarter to $500M.
Based on Tang Capital Management's 13F filing for Q1 2022, filed 16 May 2022.