TCM

TCG Crossover Management Portfolio holdings

AUM $4.16B Turnover 31.15%
1-Year Est. Return 983.43%
This Fund
S&P 500
This Quarter Est. Return
+50.4%
1 Year Est. Return
+983.43%
3 Year Est. Return
+3,012.95%
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
Avg Time Held
1.2 years
Top 10 Avg Time Held
0.9 years
Top 20 Avg Time Held
1.3 years

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 icon
Tourmaline Bio
TRML
+$62.7M
2
UPB icon
Upstream Bio Inc
UPB
+$34.2M
3
IRON icon
Disc Medicine
IRON
+$30.7M
4
COGT icon
Cogent Biosciences
COGT
+$26.1M
5
ATXS icon
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 Held Since
ABVX icon
1
Abivax
ABVX
$7.68B
$959M 31.74%
7,111,596
– –
2023 Q4
8 quarters
COGT icon
2
Cogent Biosciences
COGT
$4.88B
$208M 6.9%
5,868,162
-930,000
-14% -$26.1M
2021 Q4
16 quarters
CGON icon
3
CG Oncology
CGON
$5.48B
$152M 5.04%
3,670,206
– –
2024 Q1
7 quarters
TNGX icon
4
Tango Therapeutics
TNGX
$3.74B
$113M 3.74%
12,762,094
+4,225,898
+50% +$36.4M
2024 Q4
4 quarters
CNTA
5
DELISTED
Centessa Pharmaceuticals
CNTA
$107M 3.55%
4,286,480
+1,150,000
+37% +$29.1M
2023 Q3
9 quarters
DYN icon
6
Dyne Therapeutics
DYN
$2.81B
$90.3M 2.99%
4,615,144
– –
2023 Q1
11 quarters
RAPT icon
7
DELISTED
RAPT Therapeutics
RAPT
$87.5M 2.89%
2,582,408
+946,133
+58% +$29.4M
2024 Q4
4 quarters
TYRA icon
8
Tyra Biosciences
TYRA
$1.29B
$76.2M 2.52%
2,898,103
– –
2021 Q4
16 quarters
AMLX icon
9
Amylyx Pharmaceuticals
AMLX
$3.39B
$75.4M 2.5%
6,243,812
– –
2024 Q3
5 quarters
SVRA icon
10
Savara
SVRA
$978M
$74.5M 2.47%
12,362,205
– –
2023 Q3
9 quarters
GLUE icon
11
Monte Rosa Therapeutics
GLUE
$839M
$72.5M 2.4%
+4,622,151
New +$62.3M
2025 Q4
0 quarters
OCUL icon
12
Ocular Therapeutix
OCUL
$1.58B
$69.7M 2.31%
5,740,231
-377,001
-6% -$4.58M
2024 Q1
7 quarters
DNTH icon
13
Dianthus Therapeutics
DNTH
$4.18B
$69.1M 2.29%
1,676,624
– –
2024 Q4
4 quarters
EYPT icon
14
EyePoint Inc
EYPT
$259M
$65.3M 2.16%
3,572,335
– –
2024 Q2
6 quarters
GPCR icon
15
Structure Therapeutics
GPCR
$1.56B
$64M 2.12%
920,857
-142,143
-13% -$5.8M
2023 Q1
11 quarters
SYRE icon
16
Spyre Therapeutics
SYRE
$7.35B
$62.3M 2.06%
1,900,582
+800,000
+73% +$20.9M
2025 Q3
1 quarter
FULC icon
17
Fulcrum Therapeutics
FULC
$280M
$59.4M 1.97%
5,250,000
– –
2024 Q3
5 quarters
LQDA icon
18
Liquidia Corp
LQDA
$3.04B
$59M 1.95%
1,710,084
– –
2025 Q3
1 quarter
BHVN icon
19
Biohaven
BHVN
$1.65B
$52.3M 1.73%
+4,631,317
New +$57.4M
2025 Q4
0 quarters
IMVT icon
20
Immunovant
IMVT
$5.76B
$42.2M 1.4%
+1,660,933
New +$37M
2025 Q4
0 quarters
KOD icon
21
Kodiak Sciences
KOD
$5.1B
$40.4M 1.34%
1,445,538
+300,000
+26% +$6.14M
2023 Q4
8 quarters
ADCT icon
22
ADC Therapeutics
ADCT
$185M
$40.2M 1.33%
11,390,175
+10,000,000
+719% +$40.6M
2025 Q3
1 quarter
LBRX icon
23
LB Pharmaceuticals
LBRX
$1.1B
$38.8M 1.29%
1,745,015
-1
-0% -$17
2025 Q3
1 quarter
XNCR icon
24
Xencor
XNCR
$1.74B
$37.5M 1.24%
2,452,138
– –
2024 Q3
5 quarters
RVMD icon
25
Revolution Medicines
RVMD
$41.5B
$34.8M 1.15%
436,473
– –
2025 Q3
1 quarter
1
2

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LWCA
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CWG
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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.