TCG Crossover Management, LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), TCG Crossover Management, LLC reported 37 stock positions worth $733.1 million. Its top holding was CG Oncology (CGON) at 12.3% of the portfolio, followed by Cogent Biosciences (COGT, 5.7%) and Centessa Pharmaceuticals (CNTA, 5.7%). Compared with Q4 2024, it added to 2 and reduced 3. The biggest buy was Amylyx Pharmaceuticals (AMLX, shares +28%) and the biggest sale Disc Medicine (IRON, shares −4%).
- Most Recent 13F
- Q2 2026
- Location
- PALO ALTO, CA
- CIK
- 0001839948
- Portfolio Value
- $733.1M (Q1 2025)
- SEC Filing
- 0001214659-25-007553 ↗ filed May 14, 2025
Holdings Value
Holdings 37 stocks · $733.1M
| CGON CG Oncology Inc. | 12.26% | 3,670,206 | $89.9M | No change |
| COGT Cogent Biosciences Inc. | 5.69% | 6,964,375 | $41.7M | No change |
| CNTA Centessa Pharmaceuticals Ltd. | 5.67% | 2,890,816 | $41.6M | No change |
| MLYS Mineralys Therapeutics Inc. | 5.35% | 2,470,265 | $39.2M | No change |
| OCUL Ocular Therapeutix Inc. | 5.32% | 5,319,148 | $39.0M | No change |
| ABVX Abivax SA-ADR | 5.16% | 6,056,596 | $37.9M | No change |
| SVRA Savara Inc. | 4.67% | 12,362,205 | $34.2M | No change |
| DYN Dyne Therapeutics Inc. | 3.78% | 2,650,150 | $27.7M | No change |
| DNTH Dianthus Therapeutics Inc. | 3.72% | 1,501,624 | $27.2M | No change |
| TYRA Tyra Biosciences Inc. | 3.68% | 2,898,103 | $27.0M | Add +45.7% |
| XNCR Xencor Inc. | 3.56% | 2,452,138 | $26.1M | No change |
| IRON Disc Medicine Inc. | 3.15% | 465,257 | $23.1M | Reduce -4.5% |
| TRML Tourmaline Bio Inc. | 3.07% | 1,477,593 | $22.5M | No change |
| CDTX Cidara Therapeutics Inc. | 2.96% | 1,005,901 | $21.7M | No change |
| AMLX Amylyx Pharmaceuticals Inc. | 2.87% | 5,943,812 | $21.0M | Add +28.0% |
| SLNO Soleno Therapeutics Inc. | 2.68% | 275,000 | $19.6M | Reduce -50.0% |
| EYPT Eyepoint Inc. | 2.64% | 3,572,335 | $19.4M | No change |
| GPCR Structure Therapeutics Inc. | 2.51% | 1,063,000 | $18.4M | No change |
| UPB Upstream Bio Inc. | 2.34% | 2,801,763 | $17.1M | No change |
| RAPT THERAPEUTICS INC | 2.18% | 13,090,200 | $16.0M | Reduce -0.3% |
| FULC Fulcrum Therapeutics Inc. | 2.06% | 5,250,000 | $15.1M | No change |
| ATXS Astria Therapeutics Inc. | 2.01% | 2,761,861 | $14.7M | No change |
| TNGX Tango Therapeutics Inc. | 2.01% | 10,736,000 | $14.7M | No change |
| CMPS Compass Pathways PLC | 1.51% | 3,858,000 | $11.0M | No change |
| KURA Kura Oncology Inc. | 1.28% | 1,423,642 | $9.4M | No change |
| THRD Third Harmonic Bio Inc. | 1.19% | 2,505,424 | $8.7M | No change |
| SLN Silence Therapeutics PLC-ADR | 1.17% | 3,033,560 | $8.6M | No change |
| ADVM Adverum Biotechnologies Inc. | 1.07% | 1,796,482 | $7.9M | No change |
| VTGN Vistagen Therapeutics Inc. | 0.91% | 2,676,580 | $6.7M | No change |
| AEROVATE THERAPEUTICS INC | 0.77% | 2,240,809 | $5.6M | No change |
| TRDA Entrada Therapeutics Inc. | 0.72% | 584,955 | $5.3M | No change |
| MBX MBX Biosciences Inc. | 0.65% | 650,000 | $4.8M | No change |
| AVTX Avalo Therapeutics Inc. | 0.53% | 483,000 | $3.9M | No change |
| KOD Kodiak Sciences Inc. | 0.44% | 1,145,538 | $3.2M | No change |
| NKTR Nektar Therapeutics | 0.37% | 4,000,000 | $2.7M | No change |
| VTYX Ventyx Biosciences Inc. | 0.05% | 316,195 | $364K | No change |
| CABA Cabaletta Bio Inc. | 0.02% | 86,795 | $120K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| IRON Disc Medicine Inc. | Reduce -4.5% | 3.15% | +0.13 |
| RAPT THERAPEUTICS INC | Reduce -0.3% | 2.18% | +0.25 |
| SLNO Soleno Therapeutics Inc. | Reduce -50.0% | 2.68% | +0.26 |
Portfolio Buys Q4 2024 → Q1 2025
Notes & Other Activity Q4 2024 → Q1 2025
| KROS Keros Therapeutics Inc. | COM | Reduce -100.0% | 0 | $0 |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
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 |