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TCM

TCG Crossover Management Portfolio holdings

AUM $3.5B
1-Year Est. Return 1,165.83%
This Fund
S&P 500
This Quarter Est. Return
+50.4%
1 Year Est. Return
+1,165.83%
3 Year Est. Return
+3,168.76%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$3.02B
AUM Growth
+$989M
Cap. Flow
+$219M
Cap. Flow %
7.24%
Top 10 Hldgs %
64.34%
Holding
48
New
8
Increased
9
Reduced
7
Closed
5

Top Buys

Rank Stock Value
1
GLUE icon
Monte Rosa Therapeutics
GLUE
+$62.3M
2
BHVN icon
Biohaven
BHVN
+$57.4M
3
JANX icon
Janux Therapeutics
JANX
+$42.1M
4
ADCT icon
ADC Therapeutics
ADCT
+$40.6M
5
IMVT icon
Immunovant
IMVT
+$37M

Top Sells

Rank Stock Value
1
TRML
Tourmaline Bio
TRML
+$62.7M
2
UPB
Upstream Bio Inc
UPB
+$34.2M
3
IRON icon
Disc Medicine
IRON
+$30.7M
4
COGT icon
Cogent Biosciences
COGT
+$26.1M
5
ATXS
Astria Therapeutics
ATXS
+$20.1M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AGIO icon
26
Agios Pharmaceuticals
AGIO
$2.2B
$32.2M 1.06%
1,181,841
-248,200
-17% -$8.71M
ARVN icon
27
Arvinas
ARVN
$530M
$31.6M 1.05%
2,666,216
+1,048,851
+65% +$11.5M
RLAY icon
28
Relay Therapeutics
RLAY
$4.06B
$27.2M 0.9%
3,220,186
+1,409,835
+78% +$10.1M
JANX icon
29
Janux Therapeutics
JANX
$950M
$24.7M 0.82%
+1,789,617
New +$42.1M
TRDA icon
30
Entrada Therapeutics
TRDA
$236M
$21.5M 0.71%
2,088,392
+1,503,437
+257% +$12.7M
MBX
31
MBX Biosciences
MBX
$2.92B
$20.5M 0.68%
650,000
– –
UPB
32
Upstream Bio Inc
UPB
$348M
$20.2M 0.67%
743,886
-1,373,217
-65% -$34.2M
SLN
33
Silence Therapeutics
SLN
$570M
$18.4M 0.61%
3,033,560
– –
URGN icon
34
UroGen Pharma
URGN
$2.02B
$16.8M 0.56%
717,347
– –
ALEC icon
35
Alector
ALEC
$168M
$15.6M 0.52%
+10,000,000
New +$17.7M
MNPR icon
36
Monopar Therapeutics
MNPR
$739M
$9.27M 0.31%
141,915
-11,085
-7% -$906K
AVTX icon
37
Avalo Therapeutics
AVTX
$1.03B
$8.77M 0.29%
483,000
– –
MAZE
38
Maze Therapeutics
MAZE
$1.59B
$7.2M 0.24%
+173,816
New +$5.97M
MIRM icon
39
Mirum Pharmaceuticals
MIRM
$6.96B
$4.9M 0.16%
+62,049
New +$4.45M
LONA
40
LeonaBio Inc
LONA
$69.1M
$3.35M 0.11%
+464,398
New +$2.13M
KRRO icon
41
Korro Bio
KRRO
$155M
$3.33M 0.11%
416,301
– –
VTYX
42
DELISTED
Ventyx Biosciences
VTYX
$2.86M 0.09%
316,195
– –
VTGN icon
43
VistaGen Therapeutics
VTGN
$9.45M
$1.77M 0.06%
2,676,580
– –
ADVM
44
DELISTED
Adverum Biotechnologies
ADVM
– –
-1,668,174
Closed -$7.56M
ATXS
45
DELISTED
Astria Therapeutics
ATXS
– –
-2,761,861
Closed -$20.1M
IRON icon
46
Disc Medicine
IRON
$2.85B
– –
-465,257
Closed -$30.7M
PEPG icon
47
PepGen
PEPG
$131M
– –
-1,200,000
Closed -$5.54M
TRML
48
DELISTED
Tourmaline Bio
TRML
– –
-1,311,783
Closed -$62.7M
1
2

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TCG Crossover Management's Q4 2025 Portfolio in Review

As of Q4 2025, TCG Crossover Management held 48 positions worth $3.02B, up 49% from $2.03B the previous quarter. Its ten largest holdings account for 64% of the portfolio.

TCG Crossover Management deployed $219M of net new capital in Q4 2025, opening 8 new positions and adding to 9 existing holdings. Its largest new stake was Monte Rosa Therapeutics: 4,622,151 shares worth $72.5M.

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 Upstream Bio Inc, an estimated $34.2M trimmed.

  • TCG Crossover Management's largest Q4 2025 buy was Monte Rosa Therapeutics: 4,622,151 shares worth $72.5M.
  • TCG Crossover Management added most to ADC Therapeutics in Q4 2025, an estimated $40.6M increase.
  • TCG Crossover Management's biggest Q4 2025 reduction was Upstream Bio Inc, cutting an estimated $34.2M.
  • TCG Crossover Management fully exited Tourmaline Bio in Q4 2025, selling an estimated $62.7M.
  • TCG Crossover Management's ten largest holdings make up 64% of its $3.02B portfolio in Q4 2025.
  • TCG Crossover Management opened 8 new positions and closed 5 in Q4 2025.
  • TCG Crossover Management's portfolio value rose 49% quarter-over-quarter to $3.02B.

Based on TCG Crossover Management's 13F filing for Q4 2025, filed 17 Feb 2026.