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TCG Crossover Management, LLC

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13F filer, CIK 1839948, PALO ALTO, CA

TCG Crossover Management, LLC reported $875,508,102 across 38 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-14. Its ten largest share positions make up 56.33% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-25-012291

Period
2025-06-30
Reported value
$876M
Holdings
38
Top 10 weight
56.33%
New
5
Sold out
5

Largest buys vs the previous quarter

SecurityShares changeApprox. value
AGIOnew+697,003$23.2M
RAPTnew+1,636,275$13.1M
DYNadded+1,116,510$10.6M
ELVNnew+498,000$9.99M
NKTRnew+266,666$6.89M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
MLYSexited-2,470,265-$39.2M
RAPT THERAPEUTICS INCexited-13,090,200-$16M
CMPSexited-3,858,000-$11M
SLNOreduced-88,750-$7.44M
AEROVATE THERAPEUTICS INCexited-2,240,809-$5.62M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001214659-25-012291, largest first. % of portfolio is the value over $875,508,102, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
CGONCG ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,670,206 shares; 2024Q4: 3,670,206 shares; 2025Q1: 3,670,206 shares; 2025Q2: 3,670,206 shares 3,670,206$95.4M10.9%0Timeline
TNGXTANGO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 10,736,000 shares; 2025Q1: 10,736,000 shares; 2025Q2: 10,736,000 shares 10,736,000$55M6.28%0Timeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,964,375 shares; 2024Q4: 6,964,375 shares; 2025Q1: 6,964,375 shares; 2025Q2: 6,964,375 shares 6,964,375$50M5.71%0Timeline
OCULOCULAR THERAPEUTIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,319,148 shares; 2024Q4: 5,319,148 shares; 2025Q1: 5,319,148 shares; 2025Q2: 5,319,148 shares 5,319,148$49.4M5.64%0Timeline
CDTXCIDARA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,005,901 shares; 2025Q1: 1,005,901 shares; 2025Q2: 1,005,901 shares 1,005,901$49M5.6%0Timeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,056,596 shares; 2024Q4: 6,056,596 shares; 2025Q1: 6,056,596 shares; 2025Q2: 6,056,596 shares 6,056,596$46.3M5.29%0Timeline
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,643,812 shares; 2024Q4: 4,643,812 shares; 2025Q1: 5,943,812 shares; 2025Q2: 5,943,812 shares 5,943,812$38.1M4.35%0Timeline
CNTACENTESSA PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,890,816 shares; 2024Q4: 2,890,816 shares; 2025Q1: 2,890,816 shares; 2025Q2: 2,890,816 shares 2,890,816$38M4.34%0Timeline
FULCFULCRUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,250,000 shares; 2024Q4: 5,250,000 shares; 2025Q1: 5,250,000 shares; 2025Q2: 5,250,000 shares 5,250,000$36.1M4.13%0Timeline
DYNDYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,650,150 shares; 2024Q4: 2,650,150 shares; 2025Q1: 2,650,150 shares; 2025Q2: 3,766,660 shares 3,766,660$35.9M4.1%+1,116,510Timeline
EYPTEYEPOINT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 922,335 shares; 2024Q4: 3,572,335 shares; 2025Q1: 3,572,335 shares; 2025Q2: 3,572,335 shares 3,572,335$33.6M3.84%0Timeline
UPBUPSTREAM BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,801,763 shares; 2025Q1: 2,801,763 shares; 2025Q2: 2,801,763 shares 2,801,763$30.8M3.51%0Timeline
SVRASAVARA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 12,362,205 shares; 2024Q4: 12,362,205 shares; 2025Q1: 12,362,205 shares; 2025Q2: 12,362,205 shares 12,362,205$28.2M3.22%0Timeline
DNTHDIANTHUS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,501,624 shares; 2025Q1: 1,501,624 shares; 2025Q2: 1,501,624 shares 1,501,624$28M3.2%0Timeline
TYRATYRA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,989,103 shares; 2024Q4: 1,989,103 shares; 2025Q1: 2,898,103 shares; 2025Q2: 2,898,103 shares 2,898,103$27.7M3.17%0Timeline
IRONDISC MEDICINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 486,957 shares; 2024Q4: 486,957 shares; 2025Q1: 465,257 shares; 2025Q2: 465,257 shares 465,257$24.6M2.81%0Timeline
Tourmaline Bio IncTourmaline Bio IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,477,593 shares; 2024Q4: 1,477,593 shares; 2025Q1: 1,477,593 shares; 2025Q2: 1,477,593 shares 1,477,593$23.6M2.7%0
AGIOAGIOS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 697,003 shares 697,003$23.2M2.65%newTimeline
GPCRSTRUCTURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,063,000 shares; 2024Q4: 1,063,000 shares; 2025Q1: 1,063,000 shares; 2025Q2: 1,063,000 shares 1,063,000$22M2.52%0Timeline
XNCRXENCOR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,427,138 shares; 2024Q4: 2,452,138 shares; 2025Q1: 2,452,138 shares; 2025Q2: 2,452,138 shares 2,452,138$19.3M2.2%0Timeline
SLNSILENCE THERAPEUTICS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,033,560 shares; 2024Q4: 3,033,560 shares; 2025Q1: 3,033,560 shares; 2025Q2: 3,033,560 shares 3,033,560$17.6M2.01%0Timeline
SLNOSOLENO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 550,000 shares; 2024Q4: 550,000 shares; 2025Q1: 275,000 shares; 2025Q2: 186,250 shares 186,250$15.6M1.78%-88,750Timeline
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,761,861 shares; 2024Q4: 2,761,861 shares; 2025Q1: 2,761,861 shares; 2025Q2: 2,761,861 shares 2,761,861$14.8M1.69%0
RAPTRAPT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,636,275 shares 1,636,275$13.1M1.5%newTimeline
THRDTHIRD HARMONIC BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,415,000 shares; 2024Q4: 2,505,424 shares; 2025Q1: 2,505,424 shares; 2025Q2: 1,915,424 shares 1,915,424$10.4M1.19%-590,000Timeline
ELVNENLIVEN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 498,000 shares 498,000$9.99M1.14%newTimeline
MBXMBX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 650,000 shares; 2024Q4: 650,000 shares; 2025Q1: 650,000 shares; 2025Q2: 650,000 shares 650,000$7.42M0.85%0Timeline
NKTRNEKTAR THERAPEUTICSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 266,666 shares 266,666$6.89M0.79%newTimeline
VTGNVISTAGEN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,676,580 shares; 2024Q4: 2,676,580 shares; 2025Q1: 2,676,580 shares; 2025Q2: 2,676,580 shares 2,676,580$5.35M0.61%0Timeline
KODKODIAK SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,008,158 shares; 2024Q4: 1,145,538 shares; 2025Q1: 1,145,538 shares; 2025Q2: 1,145,538 shares 1,145,538$4.27M0.49%0Timeline
KURAKURA ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,423,642 shares; 2024Q4: 1,423,642 shares; 2025Q1: 1,423,642 shares; 2025Q2: 735,184 shares 735,184$4.24M0.48%-688,458Timeline
TRDAENTRADA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 584,955 shares; 2024Q4: 584,955 shares; 2025Q1: 584,955 shares; 2025Q2: 584,955 shares 584,955$3.93M0.45%0Timeline
ADVERUM BIOTECHNOLOGIES INCADVERUM BIOTECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,008,339 shares; 2024Q4: 1,796,482 shares; 2025Q1: 1,796,482 shares; 2025Q2: 1,796,482 shares 1,796,482$3.86M0.44%0
AVTXAVALO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 483,000 shares; 2024Q4: 483,000 shares; 2025Q1: 483,000 shares; 2025Q2: 483,000 shares 483,000$2.41M0.28%0Timeline
VTYXVENTYX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 316,195 shares; 2024Q4: 316,195 shares; 2025Q1: 316,195 shares; 2025Q2: 316,195 shares 316,195$677K0.08%0Timeline
JBIOJADE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 64,023 shares 64,023$640K0.07%newTimeline
CABACABALETTA BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 86,795 shares; 2024Q4: 86,795 shares; 2025Q1: 86,795 shares; 2025Q2: 86,795 shares 86,795$132K0.02%0Timeline
KROSKEROS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 879,344 shares; 2024Q4: 550,000 shares; 2025Q1: 0 shares; 2025Q2: 0 shares 0$00%0Value filed as zero, left out of ratios.Amount filed as zero, left out of ratios.Timeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
MLYSMINERALYS THERAPEUTICS INC2,470,265$39.2Mshares
RAPT THERAPEUTICS INCRAPT THERAPEUTICS INC13,090,200$16Mshares
CMPSCOMPASS PATHWAYS PLC3,858,000$11Mshares
AEROVATE THERAPEUTICS INCAEROVATE THERAPEUTICS INC2,240,809$5.62Mshares
NEKTAR THERAPEUTICSNEKTAR THERAPEUTICS4,000,000$2.72Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001214659-25-012291 base2025-08-14acceptance time not in the bulk data set