TCG Crossover Management, LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), TCG Crossover Management, LLC reported 38 stock positions worth $1.0 billion. Its top holding was CG Oncology (CGON) at 10.3% of the portfolio, followed by Dyne Therapeutics (DYN, 6.1%) and Xencor (XNCR, 5.5%). Compared with Q3 2024, it opened 5 new positions, sold out of 3, added to 4 and reduced 2. The biggest buy was a new position in Upstream Bio (UPB) and the biggest sale an exit from Edgewise Therapeutics (EWTX).
- Most Recent 13F
- Q2 2026
- Location
- PALO ALTO, CA
- CIK
- 0001839948
- Portfolio Value
- $1.0B (Q4 2024)
- SEC Filing
- 0001214659-25-002888 ↗ filed Feb 14, 2025
Holdings Value
Holdings 38 stocks · $1.0B
| CGON CG Oncology Inc. | 10.29% | 3,670,206 | $105.3M | No change |
| DYN Dyne Therapeutics Inc. | 6.10% | 2,650,150 | $62.4M | No change |
| XNCR Xencor Inc. | 5.51% | 2,452,138 | $56.4M | Add +1.0% |
| COGT Cogent Biosciences Inc. | 5.31% | 6,964,375 | $54.3M | No change |
| CNTA Centessa Pharmaceuticals Ltd. | 4.73% | 2,890,816 | $48.4M | No change |
| OCUL Ocular Therapeutix Inc. | 4.44% | 5,319,148 | $45.4M | No change |
| UPB Upstream Bio Inc. | 4.38% | 2,801,763 | $44.9M | New |
| ABVX Abivax SA-ADR | 4.33% | 6,056,596 | $44.3M | No change |
| SVRA Savara Inc. | 3.71% | 12,362,205 | $38.0M | No change |
| TNGX Tango Therapeutics Inc. | 3.24% | 10,736,000 | $33.2M | New |
| DNTH Dianthus Therapeutics Inc. | 3.20% | 1,501,624 | $32.7M | New |
| IRON Disc Medicine Inc. | 3.02% | 486,957 | $30.9M | No change |
| MLYS Mineralys Therapeutics Inc. | 2.97% | 2,470,265 | $30.4M | No change |
| TRML Tourmaline Bio Inc. | 2.93% | 1,477,593 | $30.0M | No change |
| GPCR Structure Therapeutics Inc. | 2.82% | 1,063,000 | $28.8M | No change |
| TYRA Tyra Biosciences Inc. | 2.70% | 1,989,103 | $27.6M | No change |
| EYPT Eyepoint Inc. | 2.60% | 3,572,335 | $26.6M | Add +287.3% |
| CDTX Cidara Therapeutics Inc. | 2.55% | 1,005,901 | $26.1M | New |
| THRD Third Harmonic Bio Inc. | 2.52% | 2,505,424 | $25.8M | Add +3.7% |
| SLNO Soleno Therapeutics Inc. | 2.42% | 550,000 | $24.7M | No change |
| ATXS Astria Therapeutics Inc. | 2.41% | 2,761,861 | $24.7M | No change |
| FULC Fulcrum Therapeutics Inc. | 2.41% | 5,250,000 | $24.7M | No change |
| SLN Silence Therapeutics PLC-ADR | 2.04% | 3,033,560 | $20.9M | No change |
| RAPT THERAPEUTICS INC | 1.93% | 13,135,260 | $19.8M | New |
| AMLX Amylyx Pharmaceuticals Inc. | 1.72% | 4,643,812 | $17.6M | No change |
| CMPS Compass Pathways PLC | 1.43% | 3,858,000 | $14.6M | No change |
| KURA Kura Oncology Inc. | 1.21% | 1,423,642 | $12.4M | No change |
| MBX MBX Biosciences Inc. | 1.17% | 650,000 | $12.0M | No change |
| KOD Kodiak Sciences Inc. | 1.11% | 1,145,538 | $11.4M | Add +13.6% |
| TRDA Entrada Therapeutics Inc. | 0.99% | 584,955 | $10.1M | No change |
| KROS Keros Therapeutics Inc. | 0.85% | 550,000 | $8.7M | Reduce -37.5% |
| ADVM Adverum Biotechnologies Inc. | 0.82% | 1,796,482 | $8.4M | Reduce -10.6% |
| VTGN Vistagen Therapeutics Inc. | 0.77% | 2,676,580 | $7.9M | No change |
| AEROVATE THERAPEUTICS INC | 0.58% | 2,240,809 | $5.9M | No change |
| NKTR Nektar Therapeutics | 0.36% | 4,000,000 | $3.7M | No change |
| AVTX Avalo Therapeutics Inc. | 0.35% | 483,000 | $3.6M | No change |
| VTYX Ventyx Biosciences Inc. | 0.07% | 316,195 | $692K | No change |
| CABA Cabaletta Bio Inc. | 0.02% | 86,795 | $197K | No change |
Portfolio Sells Q3 2024 → Q4 2024
Portfolio Buys Q3 2024 → Q4 2024
| UPB Upstream Bio Inc. | New | 4.38% | +4.38 |
| TNGX Tango Therapeutics Inc. | New | 3.24% | +3.24 |
| DNTH Dianthus Therapeutics Inc. | New | 3.20% | +3.20 |
| CDTX Cidara Therapeutics Inc. | New | 2.55% | +2.55 |
| EYPT Eyepoint Inc. | Add +287.3% | 2.60% | +1.98 |
| RAPT THERAPEUTICS INC | New | 1.93% | +1.93 |
| XNCR Xencor Inc. | Add +1.0% | 5.51% | +1.37 |
| KOD Kodiak Sciences Inc. | Add +13.6% | 1.11% | +0.89 |
| THRD Third Harmonic Bio Inc. | Add +3.7% | 2.52% | −0.25 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 54 | $4.2B | ABVX, TNGX, CGON, COGT, IMVT |
| Q1 2026 | 49 | $3.5B | ABVX, CGON, TNGX, COGT, CNTA |
| Q4 2025 | 43 | $3.0B | ABVX, COGT, CGON, TNGX, CNTA |
| Q3 2025 | 40 | $2.0B | ABVX, CGON, COGT, AMLX, CNTA |
| Q2 2025 | 37 | $875.5M | CGON, TNGX, COGT, OCUL, CDTX |
| Q1 2025 | 37 | $733.1M | CGON, COGT, CNTA, MLYS, OCUL |
| Q4 2024 | 38 | $1.0B | CGON, DYN, XNCR, COGT, CNTA |
| Q3 2024 | 36 | $1.2B | CGON, DYN, COGT, ABVX, EWTX |
| Q2 2024 | 32 | $959.5M | CGON, DYN, ABVX, SLN, COGT |
| Q1 2024 | 33 | $1.3B | CGON, DYN, ATXS, SLN, GPCR |