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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
+16.47%
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
$1.4B
AUM Growth
+$418M
Cap. Flow
+$336M
Cap. Flow %
23.99%
Top 10 Hldgs %
35.88%
Holding
162
New
35
Increased
43
Reduced
14
Closed
8

Top Buys

Rank Stock Value
1
ITOS
iTeos Therapeutics
ITOS
+$36.7M
2
CRBP icon
Corbus Pharmaceuticals
CRBP
+$30.7M
3
AUPH icon
Aurinia Pharmaceuticals
AUPH
+$27.6M
4
RLAY icon
Relay Therapeutics
RLAY
+$26.7M
5
IMCR icon
Immunocore
IMCR
+$25.5M

Top Sells

Rank Stock Value
1
LLY icon
Eli Lilly
LLY
+$24.4M
2
DVAX
Dynavax Technologies
DVAX
+$6.61M
3
BEAM icon
Beam Therapeutics
BEAM
+$2.58M
4
CRSP icon
CRISPR Therapeutics
CRSP
+$2.54M
5
INBX icon
Inhibrx
INBX
+$2.37M

Sector Composition

Rank Sector Weight
1 Healthcare 95.59%
2 Technology 1.47%
3 Communication Services 1.22%
4 Real Estate 0.34%
5 Financials 0.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EOLS icon
1
Evolus
EOLS
$394M
$78.5M 5.61%
4,847,399
– –
TARS icon
2
Tarsus Pharmaceuticals
TARS
$2.56B
$74.2M 5.3%
2,254,797
– –
AUPH icon
3
Aurinia Pharmaceuticals
AUPH
$1.97B
$53M 3.79%
7,229,500
+4,450,000
+160% +$27.6M
VRDN icon
4
Viridian Therapeutics
VRDN
$2.13B
$51M 3.65%
2,242,925
+850,000
+61% +$13.9M
MIRM icon
5
Mirum Pharmaceuticals
MIRM
$6.89B
$50.2M 3.59%
1,287,107
– –
KALV
6
DELISTED
KalVista Pharmaceuticals
KALV
$50M 3.57%
4,321,547
+102,718
+2% +$1.29M
ANAB icon
7
AnaptysBio
ANAB
$1.6B
$44.6M 3.18%
1,330,879
– –
IMCR icon
8
Immunocore
IMCR
$1.78B
$34.4M 2.46%
1,105,600
+700,000
+173% +$25.5M
PCVX icon
9
Vaxcyte
PCVX
$7.89B
$34.3M 2.45%
300,000
– –
BNTX icon
10
BioNTech
BNTX
$22.6B
$32.1M 2.29%
+270,000
New +$24.8M
ANIP icon
11
ANI Pharmaceuticals
ANIP
$1.77B
$26.8M 1.92%
450,000
– –
PTCT icon
12
PTC Therapeutics
PTCT
$6.37B
$26M 1.86%
700,000
– –
RLAY icon
13
Relay Therapeutics
RLAY
$4.02B
$25.3M 1.8%
+3,568,058
New +$26.7M
ITOS
14
DELISTED
iTeos Therapeutics
ITOS
$24.6M 1.76%
+2,407,800
New +$36.7M
APLT
15
DELISTED
Applied Therapeutics
APLT
$23.2M 1.66%
2,730,000
+400,000
+17% +$2.36M
ACAD icon
16
Acadia Pharmaceuticals
ACAD
$4.25B
$23.1M 1.65%
1,500,000
– –
ITCI
17
DELISTED
Intra-Cellular Therapies Inc.
ITCI
$22M 1.57%
300,000
– –
DVAX
18
DELISTED
Dynavax Technologies
DVAX
$21.2M 1.51%
1,900,000
-600,000
-24% -$6.61M
LKFT
19
Lakefront Biotherapeutics American Depositary Shares
LKFT
$1.82B
$20.2M 1.44%
700,000
+644,391
+1,159% +$17.5M
GSK icon
20
GSK
GSK
$103B
$18.4M 1.31%
450,000
+50,000
+13% +$2.05M
LENZ
21
LENZ Therapeutics
LENZ
$172M
$18.2M 1.3%
766,940
+19,324
+3% +$429K
NVDA icon
22
NVIDIA
NVDA
$5.01T
$17.9M 1.28%
147,732
+32,713
+28% +$3.86M
NBIX icon
23
Neurocrine Biosciences
NBIX
$17.7B
$17.3M 1.23%
+150,000
New +$20.6M
ALT icon
24
Altimmune
ALT
$539M
$16.9M 1.21%
2,750,000
– –
AVDL
25
DELISTED
Avadel Pharmaceuticals
AVDL
$16.1M 1.15%
1,230,000
– –
1
2 3 4 5

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Tang Capital Management's Q3 2024 Portfolio in Review

As of Q3 2024, Tang Capital Management held 162 positions worth $1.4B, up 43% from $982M the previous quarter. Its ten largest holdings account for 36% of the portfolio.

Tang Capital Management deployed $336M of net new capital in Q3 2024, opening 35 new positions and adding to 43 existing holdings. Its largest new stake was iTeos Therapeutics: 2,407,800 shares worth $24.6M.

By sector, the portfolio is most concentrated in Healthcare at 96% of assets, down from 96% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was Dynavax Technologies, an estimated $6.61M trimmed.

  • Tang Capital Management's largest Q3 2024 buy was iTeos Therapeutics: 2,407,800 shares worth $24.6M.
  • Tang Capital Management added most to Aurinia Pharmaceuticals in Q3 2024, an estimated $27.6M increase.
  • Tang Capital Management's biggest Q3 2024 reduction was Dynavax Technologies, cutting an estimated $6.61M.
  • Tang Capital Management fully exited Eli Lilly in Q3 2024, selling an estimated $24.4M.
  • Tang Capital Management's ten largest holdings make up 36% of its $1.4B portfolio in Q3 2024.
  • Tang Capital Management opened 35 new positions and closed 8 in Q3 2024.
  • Tang Capital Management's portfolio value rose 43% quarter-over-quarter to $1.4B.

Based on Tang Capital Management's 13F filing for Q3 2024, filed 14 Nov 2024.