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Livermore
Livermore
ZHEN

TCG Crossover Management, LLC

SEC CIK
0001839948
Latest filing
Aug 14, 2026

The latest 13F from TCG Crossover Management, LLC covers Q2 2026 (filed Aug 14, 2026): 54 long positions worth $4.16B. The top 10 holdings make up 57.4% of the portfolio, and the largest is Abivax S.A. (ABVX) at 19.2%. Livermore has 19 filings on Form 13F from this institution, going back to Q4 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
12
Est. +$426.4M
Added
2
Est. +$48.7M
Reduced
9
Est. −$249.5M
Sold out
7
Est. −$243.0M

Top 5 holdings

Share of this quarter's portfolio value

  1. ABVXAbivax S.A.
    19.2%$800.6MHistory
  2. TNGXTango Therapeutics, Inc.
    6.8%$283.9MHistory
  3. CGONCG Oncology, Inc.
    6.3%$260.8MHistory
  4. COGTCogent Biosciences, Inc.
    4.5%$187.9MHistory
  5. IMVTImmunovant, Inc.
    4.1%$171.8MHistory

Share of portfolio

Top 5 holdings and the other 49 positions, by share of portfolio value

  1. ABVX19.2%
  2. TNGX6.8%
  3. CGON6.3%
  4. COGT4.5%
  5. IMVT4.1%
  6. Other 49 positions59.0%

Biggest buys

New and added positions, by estimated amount bought

  1. ZLABZai Lab Ltd
    +$116.6MNewHistory
  2. AURAAura Biosciences, Inc.
    +$67.7MNewHistory
  3. TRAXFirst Tracks Biotherapeutics, Inc.
    +$58.3MNewHistory
  4. AVTXAvalo Therapeutics, Inc.
    +$42.1MAddedHistory
  5. EDITEditas Medicine, Inc.
    +$36.0MNewHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. ZLABZai Lab Ltd
    +2.80 pp0.0% → 2.8%History
  2. AURAAura Biosciences, Inc.
    +1.63 pp0.0% → 1.6%History
  3. TRAXFirst Tracks Biotherapeutics, Inc.
    +1.40 pp0.0% → 1.4%History
  4. AVTXAvalo Therapeutics, Inc.
    +1.02 pp0.3% → 1.3%History
  5. EDITEditas Medicine, Inc.
    +0.87 pp0.0% → 0.9%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. CNTACentessa Pharmaceuticals plc
    −$170.3MSold outHistory
  2. ABVXAbivax S.A.
    −$63.1MReducedHistory
  3. TNGXTango Therapeutics, Inc.
    −$45.3MReducedHistory
  4. RVMDRevolution Medicines, Inc.
    −$44.1MReducedHistory
  5. BHVNBiohaven Ltd.
    −$42.4MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. CNTACentessa Pharmaceuticals plc
    −4.87 pp4.9% → 0.0%History
  2. ABVXAbivax S.A.
    −1.40 pp20.6% → 19.2%History
  3. FULCFulcrum Therapeutics, Inc.
    −1.15 pp1.2% → 0.0%History
  4. COGTCogent Biosciences, Inc.
    −0.93 pp5.4% → 4.5%History
  5. TRDAEntrada Therapeutics, Inc.
    −0.64 pp0.8% → 0.2%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$4.16B
+$665.1M (+19.0%) vs. prior quarter
Positions
54
+5 vs. prior quarter
Top 10 concentration
57.4%
Top 10 as share of value
Turnover
12.4%
Q2 2026, one quarter
Average holding period
7.3 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2021), so positions held before then are understated.

13F filings by quarter

19 quarters, going back to Q4 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $4.16B (Q2 2026)

Q4 2021: $213.6MQ1 2022: $249.1MQ2 2022: $235.4MQ3 2022: $333.4MQ4 2022: $566.6MQ1 2023: $513.0MQ2 2023: $609.8MQ3 2023: $679.1MQ4 2023: $901.7MQ1 2024: $1.26BQ2 2024: $959.5MQ3 2024: $1.18BQ4 2024: $1.02BQ1 2025: $733.1MQ2 2025: $875.5MQ3 2025: $2.03BQ4 2025: $3.02BQ1 2026: $3.50BQ2 2026: $4.16B
Q4 2021Q2 2026
13F filings of TCG Crossover Management, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202654$4.16BABVXTNGXCGONvs. Q1 2026SEC
Q1 2026May 15, 202649$3.50BABVXCGONTNGXvs. Q4 2025SEC
Q4 2025Feb 17, 202643$3.02BABVXCOGTCGONvs. Q3 2025SEC
Q3 2025Nov 17, 202540$2.03BABVXCGONCOGTvs. Q2 2025SEC
Q2 2025Aug 14, 202537$875.5MCGONTNGXCOGTvs. Q1 2025SEC
Q1 2025May 14, 202537$733.1MCGONCOGTCNTAvs. Q4 2024SEC
Q4 2024Feb 14, 202538$1.02BCGONDYNXNCRvs. Q3 2024SEC
Q3 2024Nov 14, 202436$1.18BCGONDYNCOGTvs. Q2 2024SEC
Q2 2024Aug 14, 202432$959.5MCGONDYNABVXvs. Q1 2024SEC
Q1 2024May 15, 202433$1.26BCGONDYNATXSvs. Q4 2023SEC
Q4 2023Feb 14, 202429$901.7MGPCRINBXICVXvs. Q3 2023SEC
Q3 2023Nov 14, 202326$679.1MGPCRCOGTGERNvs. Q2 2023SEC
Q2 2023Aug 14, 202322$609.8MISEEGERNCOGTvs. Q1 2023SEC
Q1 2023May 15, 202322$513.0MISEECOGTGERNvs. Q4 2022SEC
Q4 2022Feb 14, 202321$566.6MISEEMDGLCOGTvs. Q3 2022SEC
Q3 2022Nov 14, 202221$333.4MISEECOGTGERNvs. Q2 2022SEC
Q2 2022Aug 15, 202222$235.4MCOGTISEEGERNvs. Q1 2022SEC
Q1 2022May 16, 202220$249.1MISEEVRDNCOGTvs. Q4 2021SEC
Q4 2021Feb 18, 202215$213.6MISEEVRDNCOGT–SEC

13D and 13G filings

Companies where TCG Crossover Management, LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

TCG Crossover Management, LLC does not currently report owning 5% or more of any company.

Latest filings

9 filings on file made by TCG Crossover Management, LLC or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by TCG Crossover Management, LLC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
SLNSilence Therapeutics plcAug 19, 202213GOld format–New–SEC
CBAYCymaBay Therapeutics, Inc.Nov 29, 202113GOld format–New–SEC
COGTCogent Biosciences, Inc.Nov 17, 202113G/AOld format–––SEC
VRDNViridian Therapeutics, Inc.Sep 29, 202113G/AOld format–––SEC
TYRATyra Biosciences, Inc.Sep 29, 202113G/AOld format–––SEC
VRDNViridian Therapeutics, Inc.Sep 24, 202113G/AOld format–––SEC
TYRATyra Biosciences, Inc.Sep 21, 202113GOld format–New–SEC
VRDNViridian Therapeutics, Inc.Sep 10, 202113GOld format–New–SEC
COGTCogent Biosciences, Inc.Jul 8, 202113GOld format–New–SEC