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TCG Crossover Management Portfolio holdings

AUM $3.5B
1-Year Est. Return 1,165.83%
This Fund
S&P 500
This Quarter Est. Return
+354.84%
1 Year Est. Return
+1,165.83%
3 Year Est. Return
+3,168.76%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$2.03B
AUM Growth
+$1.16B
Cap. Flow
+$148M
Cap. Flow %
7.28%
Top 10 Hldgs %
65.94%
Holding
48
New
11
Increased
7
Reduced
5
Closed
8

Top Buys

Rank Stock Value
1
ABVX
Abivax
ABVX
+$64.7M
2
LQDA icon
Liquidia Corp
LQDA
+$37.1M
3
LBRX
LB Pharmaceuticals
LBRX
+$27.7M
4
AGIO icon
Agios Pharmaceuticals
AGIO
+$27.6M
5
SYRE icon
Spyre Therapeutics
SYRE
+$17.9M

Top Sells

Rank Stock Value
1
CDTX
Cidara Therapeutics
CDTX
+$49M
2
SLNO
Soleno Therapeutics
SLNO
+$15.6M
3
TNGX icon
Tango Therapeutics
TNGX
+$14.9M
4
UPB
Upstream Bio Inc
UPB
+$10.6M
5
THRD
Third Harmonic Bio
THRD
+$10.4M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KOD icon
26
Kodiak Sciences
KOD
$2.62B
$18.8M 0.92%
1,145,538
– –
SYRE icon
27
Spyre Therapeutics
SYRE
$8.69B
$18.4M 0.91%
+1,100,582
New +$17.9M
SLN
28
Silence Therapeutics
SLN
$570M
$15.7M 0.77%
3,033,560
– –
URGN icon
29
UroGen Pharma
URGN
$2.02B
$14.3M 0.7%
+717,347
New +$12.9M
ARVN icon
30
Arvinas
ARVN
$530M
$13.8M 0.68%
+1,617,365
New +$12.3M
MNPR icon
31
Monopar Therapeutics
MNPR
$739M
$12.5M 0.61%
+153,000
New +$6.84M
MBX
32
MBX Biosciences
MBX
$2.92B
$11.4M 0.56%
650,000
– –
VTGN icon
33
VistaGen Therapeutics
VTGN
$9.45M
$9.5M 0.47%
2,676,580
– –
RLAY icon
34
Relay Therapeutics
RLAY
$4.06B
$9.45M 0.46%
+1,810,351
New +$6.9M
ADVM
35
DELISTED
Adverum Biotechnologies
ADVM
$7.56M 0.37%
1,668,174
-128,308
-7% -$378K
AVTX icon
36
Avalo Therapeutics
AVTX
$1.03B
$6.14M 0.3%
483,000
– –
ADCT icon
37
ADC Therapeutics
ADCT
$145M
$5.56M 0.27%
+1,390,175
New +$4.38M
PEPG icon
38
PepGen
PEPG
$131M
$5.54M 0.27%
+1,200,000
New +$1.93M
TRDA icon
39
Entrada Therapeutics
TRDA
$236M
$3.39M 0.17%
584,955
– –
VTYX
40
DELISTED
Ventyx Biosciences
VTYX
$983K 0.05%
316,195
– –
JBIO
41
Jade Biosciences
JBIO
$1.21B
– –
-64,023
Closed -$640K
CABA icon
42
Cabaletta Bio
CABA
$444M
– –
-86,795
Closed -$132K
CDTX
43
DELISTED
Cidara Therapeutics
CDTX
– –
-1,005,901
Closed -$49M
ELVN icon
44
Enliven Therapeutics
ELVN
$3.77B
– –
-498,000
Closed -$9.99M
KURA icon
45
Kura Oncology
KURA
$901M
– –
-735,184
Closed -$4.24M
NKTR icon
46
Nektar Therapeutics
NKTR
$2.41B
– –
-266,666
Closed -$6.89M
SLNO
47
DELISTED
Soleno Therapeutics
SLNO
– –
-186,250
Closed -$15.6M
THRD
48
DELISTED
Third Harmonic Bio
THRD
– –
-1,915,424
Closed -$10.4M
1
2

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TCG Crossover Management's Q3 2025 Portfolio in Review

As of Q3 2025, TCG Crossover Management held 48 positions worth $2.03B, up 132% from $876M the previous quarter. Its ten largest holdings account for 66% of the portfolio.

TCG Crossover Management deployed $148M of net new capital in Q3 2025, opening 11 new positions and adding to 7 existing holdings. Its largest new stake was Liquidia Corp: 1,710,084 shares worth $38.9M.

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

On the sell side, the largest reduction was Tango Therapeutics, an estimated $14.9M trimmed.

  • TCG Crossover Management's largest Q3 2025 buy was Liquidia Corp: 1,710,084 shares worth $38.9M.
  • TCG Crossover Management added most to Abivax in Q3 2025, an estimated $64.7M increase.
  • TCG Crossover Management's biggest Q3 2025 reduction was Tango Therapeutics, cutting an estimated $14.9M.
  • TCG Crossover Management fully exited Cidara Therapeutics in Q3 2025, selling an estimated $49M.
  • TCG Crossover Management's ten largest holdings make up 66% of its $2.03B portfolio in Q3 2025.
  • TCG Crossover Management opened 11 new positions and closed 8 in Q3 2025.
  • TCG Crossover Management's portfolio value rose 132% quarter-over-quarter to $2.03B.

Based on TCG Crossover Management's 13F filing for Q3 2025, filed 17 Nov 2025.