TCG Crossover Management, LLC

Q4 2025 13F-HR Holdings

Location
Palo Alto, CA
Holdings as of
12/31/2025
Date filed
2/17/2026
Form type
13F-HR
Num holdings
43
Total value ($000)
$3,021,699
Net value change ($000)
+988,797 (48.6%)
New positions
8
Sold out positions
5
Turnover %
11.6%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/17/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
ABVX 355,259 58.8%
COGT 110,815 113.5%
GLUE 72,475 NEW
BHVN 52,288 NEW
RAPT 45,266 107.3%
SYRE 43,817 237.5%
IMVT 42,221 NEW
TNGX 41,368 57.7%
TYRA 35,647 87.9%
ADCT 34,646 623.0%
Top Reduces (Value $000, Stocks/ETFs)
TRML -62,743 -100.0%
IRON -30,744 -100.0%
AGIO -25,232 -44.0%
Astria Therapeutics, Inc. -20,106 -100.0%
UPB -19,626 -49.3%
KRRO -16,602 -83.3%
AMLX -9,428 -11.1%
VTGN -7,730 -81.4%
ADVM -7,557 -100.0%
PEPG -5,544 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type