Skip to content
Disclosery

TCG Crossover Management, LLC

Follow

13F filer, CIK 1839948, PALO ALTO, CA

TCG Crossover Management, LLC reported $2,032,902,053 across 40 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-17. Its ten largest share positions make up 65.94% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001214659-25-016751

Period
2025-09-30
Reported value
$2.03B
Holdings
40
Top 10 weight
65.94%
New
11
Sold out
9

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ABVXadded+1,055,000$89.6M
LQDAnew+1,710,084$38.9M
AGIOadded+733,038$29.4M
LBRXnew+1,745,016$27.6M
RVMDnew+436,473$20.4M

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
CDTXexited-1,005,901-$49M
TNGXreduced-2,199,804-$18.5M
SLNOexited-186,250-$15.6M
UPBreduced-684,660-$12.9M
THRDexited-1,915,424-$10.4M

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, Q3 2025

Share positions as resolved from 13F-HR 0001214659-25-016751, largest first. % of portfolio is the value over $2,032,902,053, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 7,111,596 shares 7,111,596$604M29.7%+1,055,000Timeline
CGONCG ONCOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 3,670,206 shares 3,670,206$148M7.27%0Timeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 6,798,162 shares 6,798,162$97.6M4.8%-166,213Timeline
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 6,243,812 shares 6,243,812$84.9M4.17%+300,000Timeline
CNTACENTESSA PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 3,136,480 shares 3,136,480$76.1M3.74%+245,664Timeline
TNGXTANGO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 10,736,000 shares; 2025Q1: 10,736,000 shares; 2025Q2: 10,736,000 shares; 2025Q3: 8,536,196 shares 8,536,196$71.7M3.53%-2,199,804Timeline
OCULOCULAR THERAPEUTIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 6,117,232 shares 6,117,232$71.5M3.52%+798,084Timeline
DNTHDIANTHUS THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,501,624 shares; 2025Q1: 1,501,624 shares; 2025Q2: 1,501,624 shares; 2025Q3: 1,676,624 shares 1,676,624$66M3.25%+175,000Timeline
Tourmaline Bio IncTourmaline Bio IncQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,311,783 shares 1,311,783$62.7M3.09%-165,810
DYNDYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 4,615,144 shares 4,615,144$58.4M2.87%+848,484Timeline
AGIOAGIOS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 697,003 shares; 2025Q3: 1,430,041 shares 1,430,041$57.4M2.82%+733,038Timeline
EYPTEYEPOINT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 3,572,335 shares 3,572,335$50.9M2.5%0Timeline
FULCFULCRUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 5,250,000 shares 5,250,000$48.3M2.38%0Timeline
SVRASAVARA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 12,362,205 shares 12,362,205$44.1M2.17%0Timeline
RAPTRAPT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,636,275 shares; 2025Q3: 1,636,275 shares 1,636,275$42.2M2.08%0Timeline
TYRATYRA BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,898,103 shares 2,898,103$40.5M1.99%0Timeline
UPBUPSTREAM BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 2,801,763 shares; 2025Q1: 2,801,763 shares; 2025Q2: 2,801,763 shares; 2025Q3: 2,117,103 shares 2,117,103$39.8M1.96%-684,660Timeline
LQDALIQUIDIA CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,710,084 shares 1,710,084$38.9M1.91%newTimeline
IRONDISC MEDICINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 486,957 shares; 2024Q4: 486,957 shares; 2025Q1: 465,257 shares; 2025Q2: 465,257 shares; 2025Q3: 465,257 shares 465,257$30.7M1.51%0Timeline
GPCRSTRUCTURE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,063,000 shares 1,063,000$29.8M1.46%0Timeline
XNCRXENCOR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,452,138 shares 2,452,138$28.8M1.41%0Timeline
LBRXLB PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,745,016 shares 1,745,016$27.6M1.36%newTimeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 436,473 shares 436,473$20.4M1%newTimeline
ASTRIA THERAPEUTICS INCASTRIA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,761,861 shares 2,761,861$20.1M0.99%0
KRROKORRO BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 416,301 shares 416,301$19.9M0.98%newTimeline
KODKODIAK SCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,145,538 shares 1,145,538$18.8M0.92%0Timeline
SYRESPYRE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,100,582 shares 1,100,582$18.4M0.91%newTimeline
SLNSILENCE THERAPEUTICS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 3,033,560 shares 3,033,560$15.7M0.77%0Timeline
URGNUROGEN PHARMA LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 717,347 shares 717,347$14.3M0.7%newTimeline
ARVNARVINAS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,617,365 shares 1,617,365$13.8M0.68%newTimeline
MNPRMONOPAR THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 153,000 shares 153,000$12.5M0.61%newTimeline
MBXMBX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 650,000 shares; 2024Q4: 650,000 shares; 2025Q1: 650,000 shares; 2025Q2: 650,000 shares; 2025Q3: 650,000 shares 650,000$11.4M0.56%0Timeline
VTGNVISTAGEN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 2,676,580 shares 2,676,580$9.5M0.47%0Timeline
RLAYRELAY THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,810,351 shares 1,810,351$9.45M0.46%newTimeline
ADVERUM BIOTECHNOLOGIES INCADVERUM BIOTECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,668,174 shares 1,668,174$7.56M0.37%-128,308
AVTXAVALO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 483,000 shares; 2024Q4: 483,000 shares; 2025Q1: 483,000 shares; 2025Q2: 483,000 shares; 2025Q3: 483,000 shares 483,000$6.14M0.3%0Timeline
ADCTADC THERAPEUTICS SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,390,175 shares 1,390,175$5.56M0.27%newTimeline
PEPGPEPGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,200,000 shares 1,200,000$5.54M0.27%newTimeline
TRDAENTRADA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 584,955 shares; 2024Q4: 584,955 shares; 2025Q1: 584,955 shares; 2025Q2: 584,955 shares; 2025Q3: 584,955 shares 584,955$3.39M0.17%0Timeline
VTYXVENTYX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 316,195 shares; 2024Q4: 316,195 shares; 2025Q1: 316,195 shares; 2025Q2: 316,195 shares; 2025Q3: 316,195 shares 316,195$983K0.05%0Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
CDTXCIDARA THERAPEUTICS INC1,005,901$49Mshares
SLNOSOLENO THERAPEUTICS INC186,250$15.6Mshares
THRDTHIRD HARMONIC BIO INC1,915,424$10.4Mshares
ELVNENLIVEN THERAPEUTICS INC498,000$9.99Mshares
NKTRNEKTAR THERAPEUTICS266,666$6.89Mshares
KURAKURA ONCOLOGY INC735,184$4.24Mshares
JBIOJADE BIOSCIENCES INC64,023$640Kshares
CABACABALETTA BIO INC86,795$132Kshares
KROSKEROS THERAPEUTICS INC0$0shares

How Q3 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 0001214659-25-016751 base2025-11-17acceptance time not in the bulk data set