TC
TCG Crossover Management, LLC — 13F Portfolio Changes & Top Buys (Q2 2026)
TCG Crossover Management, LLCCIK: 0001839948
Diversified strategySector-focusedContrarian
Total reported value
$4.2B
Reporting period: 2026-06-30 · Number of holdings: 54
TCG Crossover Management, LLC disclosed 54 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $4.2B and a quarterly turnover rate of 37.3%.
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Personality snowflake
- Concentration
- 24.71
- Portfolio Stability
- 37.35
- Momentum
- 0
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 84.57
TCG Crossover Management, LLC's disclosed holdings carry a Herfindahl concentration index of 0.062 — mathematically equivalent to about 16 equally-sized positions, well below its 54 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.54), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 2% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govSold out 260
New buy ZLAB
New buy AURA
Trim ABVX
-7.3% $78.9M
New buy 337185102
Add SYRE
0.0% $72.9M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ABVX | Abivax Sa-adr | Stock-Other | 19.24% | -1.41% | -7.30% | |
| 2 | TNGX | Tango Therapeutics Inc | Stock-Other | 6.82% | +0.52% | -13.77% | |
| 3 | CGON | Cg Oncology Inc | Stock-Other | 6.27% | -0.84% | — | |
| 4 | COGT | Cogent Biosciences Inc | Stock-Other | 4.52% | -0.93% | -1.87% | |
| 5 | IMVT | Immunovant Inc | Stock-Other | 4.13% | +0.96% | — | |
| 6 | SYRE | Spyre Therapeutics Inc | Stock-Other | 4.06% | +1.32% | — | |
| 7 | DNTH | Dianthus Therapeutics Inc | Stock-Other | 3.93% | -0.10% | — | |
| 8 | MIRM | Mirum Pharmaceuticals Inc | Stock-Other | 2.99% | +0.18% | — | |
| 9 | ZLAB | Zai Lab Ltd-adr | Stock-Other | 2.80% | +2.80% | NEW | |
| 10 | AMLX | Amylyx Pharmaceuticals Inc | Stock-Other | 2.70% | +0.22% | — | |
| 11 | GLUE | Monte Rosa Therapeutics Inc | Stock-Other | 2.69% | +0.51% | — | |
| 12 | BCRX | Biocryst Pharmaceuticals Inc | Stock-Other | 2.65% | -0.35% | — | |
| 13 | VOR | Vor Biopharma Inc | Stock-Other | 2.51% | -0.25% | — | |
| 14 | TYRA | Tyra Biosciences Inc | Stock-Other | 2.49% | -1.07% | — | |
| 15 | DYN | Dyne Therapeutics Inc | Stock-Other | 2.46% | +0.07% | — | |
| 16 | IRON | Disc Medicine Inc | Stock-Other | 2.36% | -0.09% | — | |
| 17 | RLAY | Relay Therapeutics Inc | Stock-Other | 1.92% | +0.70% | — | |
| 18 | SVRA | Savara Inc | Stock-Other | 1.83% | -0.10% | — | |
| 19 | AURA | Aura Biosciences Inc | Stock-Other | 1.63% | +1.63% | NEW | |
| 20 | RVMD | Revolution Medicines Inc | Stock-Healthcare | 1.53% | -0.07% | -40.86% | |
| 21 | ✓ | Stock-Other | 1.40% | +1.40% | NEW | ||
| 22 | KOD | Kodiak Sciences Inc | Stock-Other | 1.35% | -0.23% | — | |
| 23 | AVTX | Avalo Therapeutics Inc | Stock-Other | 1.34% | +1.02% | +308.61% | |
| 24 | LBRX | Lb Pharmaceuticals Inc | Stock-Other | 1.13% | -0.17% | -21.32% | |
| 25 | IPSC | Century Therapeutics Inc | Stock-Other | 1.04% | -0.08% | — | |
| 26 | TECX | Tectonic Therapeutic Inc | Stock-Other | 1.00% | -0.07% | — | |
| 27 | XNCR | Xencor Inc | Stock-Other | 0.95% | +0.10% | — | |
| 28 | SRZN | Surrozen Inc | Stock-Other | 0.92% | -0.31% | — | |
| 29 | EDIT | Editas Medicine Inc | Stock-Other | 0.87% | +0.87% | NEW | |
| 30 | MBX | Mbx Biosciences Inc | Stock-Other | 0.86% | +0.30% | — | |
| 31 | PHVS | Pharvaris N.V. | Stock-Other | 0.84% | +0.84% | NEW | |
| 32 | SLN | Silence Therapeutics Plc-adr | Stock-Other | 0.80% | +0.34% | — | |
| 33 | IFRX | InflaRx N.V. | Stock-Other | 0.78% | +0.78% | NEW | |
| 34 | ALT | Altimmune Inc | Stock-Other | 0.73% | +0.73% | NEW | |
| 35 | JANX | Janux Therapeutics Inc | Stock-Other | 0.66% | -0.05% | — | |
| 36 | CATX | Perspective Therapeutics Inc | Stock-Other | 0.65% | -0.29% | — | |
| 37 | AGMB | Agomab Therapeutics NV | Stock-Other | 0.64% | +0.02% | — | |
| 38 | BHVN | Biohaven Ltd. | Stock-Other | 0.64% | -0.48% | -61.57% | |
| 39 | AKTS | Aktis Oncology Inc | Stock-Other | 0.54% | +0.54% | NEW | |
| 40 | ALEC | Alector Inc | Stock-Other | 0.48% | -0.14% | — | |
| 41 | FBRX | Forte Biosciences Inc | Stock-Other | 0.47% | +0.47% | NEW | |
| 42 | MNPR | Monopar Therapeutics Inc | Stock-Other | 0.45% | +0.24% | +53.92% | |
| 43 | OCUL | Ocular Therapeutix Inc | Stock-Other | 0.39% | -0.01% | — | |
| 44 | ✓ | Adc Therapeutics SA | Stock-Other | 0.29% | -0.93% | — | |
| 45 | ALXO | Alx Oncology Holdings Inc | Stock-Other | 0.28% | -0.47% | -56.54% | |
| 46 | TRDA | Entrada Therapeutics Inc | Stock-Other | 0.19% | -0.64% | -53.65% | |
| 47 | CGEM | Cullinan Therapeutics Inc | Stock-Other | 0.18% | +0.01% | — | |
| 48 | ARVN | Arvinas Inc | Stock-Other | 0.14% | -0.58% | -70.38% | |
| 49 | KRRO | Korro Bio Inc | Stock-Other | 0.13% | — | — | |
| 50 | ✓ | Stock-Other | 0.13% | +0.13% | NEW |
1–50 of 54
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q3 2026
+10.2%
Performance Last 4 Quarters
+111.7%
- Stdev
- +49.9%
- Beta
- +0.91
- Alpha
- +33.9%
- Max Drawdown
- -45.3%
- Annualized Perf
- +51.8%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +3.16
- Stutzer
- +0.36
- Treynor
- +0.57
- Sterling
- +1.76
- Calmar
- +1.14
- Information Ratio
- +0.66
- Tracking Error
- +48.5%
- Stdev Down
- +16.5%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +306%
- Worst 12 Months
- -40.6%
- Efficiency Ratio
- +0.77
- Sharpe
- +1.05
- Stdev Sectors
- 0%
- Skewness
- +2.67
- Kurtosis
- +10.4
- Upside Potential
- +4.86
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 54 | $4.2B | 37 | ||
| 2026 Q1 | 49 | $3.5B | 58 | ||
| 2025 Q4 | 43 | $3.0B | 56 | ||
| 2025 Q3 | 40 | $2.0B | 100 | ||
| 2025 Q2 | 38 | $875.5M | 0 | ||
| 2025 Q1 | 38 | $733.1M | 0 | ||
| 2024 Q4 | 38 | $1.0B | 0 | ||
| 2024 Q3 | 36 | $1.2B | 0 | ||
| 2024 Q2 | 32 | $959.5M | 0 | ||
| 2024 Q1 | 33 | $1.3B | 0 | ||
| 2023 Q4 | 29 | $901.7M | 0 | ||
| 2023 Q3 | 26 | $679.1M | 0 | ||
| 2023 Q2 | 22 | $609.8M | 0 | ||
| 2023 Q1 | 22 | $513.0M | 0 | ||
| 2022 Q4 | 21 | $566.6M | 0 | ||
| 2022 Q3 | 21 | $333.4M | 0 | ||
| 2022 Q2 | 22 | $235.4M | 0 | ||
| 2022 Q1 | 20 | $249.1M | 0 | ||
| 2021 Q4 | 15 | $213.6M | 0 |
Holding changes this quarter
TCG Crossover Management, LLC's most significant position changes for 2026-06-30: Sold out: Centessa Pharmaceuticals-adr (260); New buy: Zai Lab Ltd-adr (ZLAB); New buy: Aura Biosciences Inc (AURA); New buy: ; Sold out: Fulcrum Therapeutics Inc (FULC).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ZLAB | Zai Lab Ltd-adr | +2.8% | NEW | New buy |
| 2 | AURA | Aura Biosciences Inc | +1.6% | NEW | New buy |
| 3 | ✓ | +1.4% | NEW | New buy | |
| 4 | SYRE | Spyre Therapeutics Inc | +1.3% | — | Unchanged |
| 5 | AVTX | Avalo Therapeutics Inc | +1% | +308.61% | Add |
| 6 | IMVT | Immunovant Inc | +1% | — | Unchanged |
| 7 | EDIT | Editas Medicine Inc | +0.9% | NEW | New buy |
| 8 | PHVS | Pharvaris N.V. | +0.8% | NEW | New buy |
| 9 | IFRX | InflaRx N.V. | +0.8% | NEW | New buy |
| 10 | ALT | Altimmune Inc | +0.7% | NEW | New buy |
| 11 | RLAY | Relay Therapeutics Inc | +0.7% | — | Unchanged |
| 12 | AKTS | Aktis Oncology Inc | +0.5% | NEW | New buy |
| 13 | TNGX | Tango Therapeutics Inc | +0.5% | -13.77% | Trim |
| 14 | GLUE | Monte Rosa Therapeutics Inc | +0.5% | — | Unchanged |
| 15 | FBRX | Forte Biosciences Inc | +0.5% | NEW | New buy |
| 16 | SLN | Silence Therapeutics Plc-adr | +0.3% | — | Unchanged |
| 17 | MBX | Mbx Biosciences Inc | +0.3% | — | Unchanged |
| 18 | MNPR | Monopar Therapeutics Inc | +0.2% | +53.92% | Add |
| 19 | AMLX | Amylyx Pharmaceuticals Inc | +0.2% | — | Unchanged |
| 20 | MIRM | Mirum Pharmaceuticals Inc | +0.2% | — | Unchanged |
| 21 | ✓ | +0.1% | NEW | New buy | |
| 22 | XNCR | Xencor Inc | +0.1% | — | Unchanged |
| 23 | DYN | Dyne Therapeutics Inc | +0.1% | — | Unchanged |
| 24 | ✓ | +0.1% | NEW | New buy | |
| 25 | AGMB | Agomab Therapeutics NV | 0% | — | Unchanged |
| 26 | CGEM | Cullinan Therapeutics Inc | 0% | — | Unchanged |
| 27 | EIKN | Eikon Therapeutics Inc | 0% | NEW | New buy |
| 28 | KRRO | Korro Bio Inc | — | — | Unchanged |
| 29 | OCUL | Ocular Therapeutix Inc | 0% | — | Unchanged |
| 30 | LONA | Leonabio Inc | 0% | — | Unchanged |
| 31 | VTGN | Vistagen Therapeutics Inc | 0% | EXIT | Sold out |
| 32 | JANX | Janux Therapeutics Inc | -0.1% | — | Unchanged |
| 33 | UPB | Upstream Bio Inc | -0.1% | EXIT | Sold out |
| 34 | RVMD | Revolution Medicines Inc | -0.1% | -40.86% | Trim |
| 35 | TECX | Tectonic Therapeutic Inc | -0.1% | — | Unchanged |
| 36 | IPSC | Century Therapeutics Inc | -0.1% | — | Unchanged |
| 37 | IRON | Disc Medicine Inc | -0.1% | — | Unchanged |
| 38 | DNTH | Dianthus Therapeutics Inc | -0.1% | — | Unchanged |
| 39 | SVRA | Savara Inc | -0.1% | — | Unchanged |
| 40 | ALEC | Alector Inc | -0.1% | — | Unchanged |
| 41 | CNTX | Context Therapeutics Inc | -0.2% | — | Unchanged |
| 42 | LBRX | Lb Pharmaceuticals Inc | -0.2% | -21.32% | Trim |
| 43 | GPCR | Structure Therapeutics Inc | -0.2% | EXIT | Sold out |
| 44 | URGN | UroGen Pharma Ltd. | -0.2% | EXIT | Sold out |
| 45 | KOD | Kodiak Sciences Inc | -0.2% | — | Unchanged |
| 46 | VOR | Vor Biopharma Inc | -0.3% | — | Unchanged |
| 47 | CATX | Perspective Therapeutics Inc | -0.3% | — | Unchanged |
| 48 | SRZN | Surrozen Inc | -0.3% | — | Unchanged |
| 49 | BCRX | Biocryst Pharmaceuticals Inc | -0.4% | — | Unchanged |
| 50 | LQDA | Liquidia CORP | -0.4% | EXIT | Sold out |
1–50 of 61
Filing History
FAQ
What is TCG Crossover Management, LLC and what type of investor is it?
TCG Crossover Management, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $4.2B, spread across 54 disclosed positions.
What are TCG Crossover Management, LLC's largest equity positions?
Based on the latest 13F filing, TCG Crossover Management, LLC's top holdings by market value are:
1. Abivax Sa-adr (ABVX) — $800.6M (19.2%)
2. Tango Therapeutics Inc (TNGX) — $283.9M (6.8%)
3. Cg Oncology Inc (CGON) — $260.8M (6.3%)
4. Cogent Biosciences Inc (COGT) — $187.9M (4.5%)
5. Immunovant Inc (IMVT) — $171.8M (4.1%)
What changes did TCG Crossover Management, LLC make in its most recent portfolio filing?
In the latest reported quarter, TCG Crossover Management, LLC made 30 notable position adjustments: 12 new positions were initiated, 2 existing holdings were added to, 9 positions were partially reduced, and 7 were completely exited. The largest of these moves: Sold out: Centessa Pharmaceuticals-adr (260); New buy: Zai Lab Ltd-adr (ZLAB); New buy: Aura Biosciences Inc (AURA); New buy: ; Sold out: Fulcrum Therapeutics Inc (FULC)
What sectors does TCG Crossover Management, LLC focus on?
TCG Crossover Management, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Health Care: 100.0%
Investment Profile
TCG Crossover Management, LLC returned an annualized 51.8% over the trailing 36 months — outperforming the S&P 500 by 33.9 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.91 (roughly in line with the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 100.0% of the portfolio concentrated in Health Care.
Its turnover score has risen from 0 to 37 over the past 4 quarters — a shift toward more active trading.
It has added to its TNGX position over the past two quarters (+$170.8M, now $283.9M), while trimming BHVN over the same stretch (-$25.8M, still holding $26.5M).
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Developer Access
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REST API
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