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TCM

TCG Crossover Management Portfolio holdings

AUM $4.16B
1-Year Est. Return 983.43%
This Fund
S&P 500
This Quarter Est. Return
+354.84%
1 Year Est. Return
+983.43%
3 Year Est. Return
+3,012.95%
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
ABVX
1
Abivax
ABVX
$9.89B
$604M 29.7%
7,111,596
+1,055,000
+17% +$64.7M
CGON icon
2
CG Oncology
CGON
$6.59B
$148M 7.27%
3,670,206
– –
COGT icon
3
Cogent Biosciences
COGT
$6.02B
$97.6M 4.8%
6,798,162
-166,213
-2% -$1.97M
AMLX icon
4
Amylyx Pharmaceuticals
AMLX
$3.87B
$84.9M 4.17%
6,243,812
+300,000
+5% +$2.82M
CNTA
5
DELISTED
Centessa Pharmaceuticals
CNTA
$76.1M 3.74%
3,136,480
+245,664
+8% +$4.37M
TNGX icon
6
Tango Therapeutics
TNGX
$3.94B
$71.7M 3.53%
8,536,196
-2,199,804
-20% -$14.9M
OCUL icon
7
Ocular Therapeutix
OCUL
$2.28B
$71.5M 3.52%
6,117,232
+798,084
+15% +$9.54M
DNTH icon
8
Dianthus Therapeutics
DNTH
$5.92B
$66M 3.25%
1,676,624
+175,000
+12% +$4.47M
TRML
9
DELISTED
Tourmaline Bio
TRML
$62.7M 3.09%
1,311,783
-165,810
-11% -$4.6M
DYN icon
10
Dyne Therapeutics
DYN
$4.68B
$58.4M 2.87%
4,615,144
+848,484
+23% +$9.68M
AGIO icon
11
Agios Pharmaceuticals
AGIO
$1.99B
$57.4M 2.82%
1,430,041
+733,038
+105% +$27.6M
EYPT icon
12
EyePoint Inc
EYPT
$386M
$50.9M 2.5%
3,572,335
– –
FULC icon
13
Fulcrum Therapeutics
FULC
$294M
$48.3M 2.38%
5,250,000
– –
SVRA icon
14
Savara
SVRA
$1.08B
$44.1M 2.17%
12,362,205
– –
RAPT
15
DELISTED
RAPT Therapeutics
RAPT
$42.2M 2.08%
1,636,275
– –
TYRA icon
16
Tyra Biosciences
TYRA
$1.49B
$40.5M 1.99%
2,898,103
– –
UPB
17
Upstream Bio Inc
UPB
$366M
$39.8M 1.96%
2,117,103
-684,660
-24% -$10.6M
LQDA icon
18
Liquidia Corp
LQDA
$6.06B
$38.9M 1.91%
+1,710,084
New +$37.1M
IRON icon
19
Disc Medicine
IRON
$3.07B
$30.7M 1.51%
465,257
– –
GPCR icon
20
Structure Therapeutics
GPCR
$3.38B
$29.8M 1.46%
1,063,000
– –
XNCR icon
21
Xencor
XNCR
$1.94B
$28.8M 1.41%
2,452,138
– –
LBRX
22
LB Pharmaceuticals
LBRX
$1.54B
$27.6M 1.36%
+1,745,016
New +$27.7M
RVMD icon
23
Revolution Medicines
RVMD
$44.6B
$20.4M 1%
+436,473
New +$17.1M
ATXS
24
DELISTED
Astria Therapeutics
ATXS
$20.1M 0.99%
2,761,861
– –
KRRO icon
25
Korro Bio
KRRO
$190M
$19.9M 0.98%
+416,301
New +$9.24M
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.