Data as of Q4 2025 (Dec 31, 2025)

TCG Crossover Management, LLC

โ€ขCIK: 1839948โ€ขFiling: Q4 2025

**TCG Crossover Management, LLC** manages $3.0B across a concentrated portfolio of 43 positions. The strategy exhibits significant conviction, highlighted by a top holding in ABVX at $959.0M, representing a substantial allocation. Further notable concentrations include COGT ($208.4M) and CGON ($152.4M). This positioning suggests a focused, high-conviction approach across select market sectors.

Total AUM
$3.0B
QoQ Performance
+48.6%
Positions
43
Top 10 Concentration
64.3%
Latest Filing
Q4 2025

Top Holdings Allocation

ABVX
COGT
CGON
ABVX31.7%
COGT6.9%
CGON5.0%
TNGX3.7%
CNTA3.5%
DYN3.0%
RAPT2.9%
TYRA2.5%

๐Ÿ“ˆ Biggest Buys

GLUE
MONTE ROSA THERAPEUTICS INC
NEW
2.4% of portfolio
BHVN
BIOHAVEN LTD
NEW
1.7% of portfolio
IMVT
IMMUNOVANT INC
NEW
1.4% of portfolio
TNGX
TANGO THERAPEUTICS INC
+49.5%
3.7% of portfolio
โ€”
ADC THERAPEUTICS SA
+719.3%
1.3% of portfolio

๐Ÿ“‰ Biggest Sells

UPB
UPSTREAM BIO INC
-64.9%
0.7% of portfolio
COGT
COGENT BIOSCIENCES INC
-13.7%
6.9% of portfolio
GPCR
STRUCTURE THERAPEUTICS INC
-13.4%
2.1% of portfolio
AGIO
AGIOS PHARMACEUTICALS INC
-17.4%
1.1% of portfolio
OCUL
OCULAR THERAPEUTIX INC
-6.2%
2.3% of portfolio

Sector Breakdown

Other100.0%

๐Ÿšช Exited Positionssold since Q3 2025

โ€”
TOURMALINE BIO INC
SOLD
$62.7M
IRON
DISC MEDICINE INC
SOLD
$30.7M
CATBUSD
ASTRIA THERAPEUTICS INC
SOLD
$20.1M
โ€”
ADVERUM BIOTECHNOLOGIES INC
SOLD
$7.6M
PEPG
PEPGEN INC
SOLD
$5.5M

Changes from Q3 2025

NEW8 new positions
โ†‘9 increased
โ†“7 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023