TCG Crossover Management, LLC Diversified Active

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GLUE	MONTE ROSA THERAPEUTICS INC	4,622,151	$72,475	2.4%	$13.48	0.0%	COMM	61225M102
BHVN	BIOHAVEN LTD	4,631,317	$52,288	1.7%	$12.39	0.0%	COMM	G1110E107
IMVT	IMMUNOVANT INC	1,660,933	$42,221	1.4%	$22.30	0.0%	COMM	45258J102
JANX	JANUX THERAPEUTICS INC	1,789,617	$24,697	0.8%	$23.52	0.0%	COMM	47103J105
ALEC	ALECTOR INC	10,000,000	$15,600	0.5%	$1.77	0.0%	COMM	014442107
MAZE	MAZE THERAPEUTICS INC	173,816	$7,201	0.2%	$34.37	0.0%	COMM	578784100
MIRM	MIRUM PHARMACEUTICALS INC	62,049	$4,901	0.2%	$71.78	0.0%	COMM	604749101
LONA	Athira Pharma, Inc.	464,398	$3,349	0.1%	$4.58	0.0%	COMM	04746L203

Increased Positions (9)

RAPT RAPT THERAPEUTICS INC 2.9%

Value ($000) $87,466 (+107.3%) Shares 2,582,408 (+57.8%) Est. Cost $16.21 Unrealized +91.6%

SYRE SPYRE THERAPEUTICS INC 2.1%

Value ($000) $62,263 (+237.5%) Shares 1,900,582 (+72.7%) Est. Cost $20.44 Unrealized +27.8%

TNGX TANGO THERAPEUTICS INC 3.7%

Value ($000) $113,072 (+57.7%) Shares 12,762,094 (+49.5%) Est. Cost $5.96 Unrealized +44.6%

ADCT ADC THERAPEUTICS SA 1.3%

Value ($000) $40,207 (+623.1%) Shares 11,390,175 (+719.3%) Est. Cost $3.95 Unrealized +2.8%

CNTA CENTESSA PHARMACEUTICALS PLC 3.5%

Value ($000) $107,205 (+40.9%) Shares 4,286,480 (+36.7%) Est. Cost $12.97 Unrealized —

KOD KODIAK SCIENCES INC 1.3%

Value ($000) $40,417 (+115.5%) Shares 1,445,538 (+26.2%) Est. Cost $7.55 Unrealized +171.3%

TRDA ENTRADA THERAPEUTICS INC 0.7%

Value ($000) $21,469 (+532.8%) Shares 2,088,392 (+257.0%) Est. Cost $12.20 Unrealized —

ARVN ARVINAS HOLDING CO LLC 1.0%

Value ($000) $31,621 (+129.5%) Shares 2,666,216 (+64.8%) Est. Cost $8.90 Unrealized +22.7%

RLAY RELAY THERAPEUTICS INC 0.9%

Value ($000) $27,243 (+188.3%) Shares 3,220,186 (+77.9%) Est. Cost $5.27 Unrealized +35.5%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
RAPT	RAPT THERAPEUTICS INC	2,582,408 (+57.8%)	$87,466 (+107.3%)	2.9%	$16.21	+91.6%	COMM	75382E208
SYRE	SPYRE THERAPEUTICS INC	1,900,582 (+72.7%)	$62,263 (+237.5%)	2.1%	$20.44	+27.8%	COMM	00773J202
TNGX	TANGO THERAPEUTICS INC	12,762,094 (+49.5%)	$113,072 (+57.7%)	3.7%	$5.96	+44.6%	COMM	87583X109
ADCT	ADC THERAPEUTICS SA	11,390,175 (+719.3%)	$40,207 (+623.1%)	1.3%	$3.95	+2.8%	COMM	H0036K147
CNTA	CENTESSA PHARMACEUTICALS PLC	4,286,480 (+36.7%)	$107,205 (+40.9%)	3.5%	$12.97	—	ADRS	152309100
KOD	KODIAK SCIENCES INC	1,445,538 (+26.2%)	$40,417 (+115.5%)	1.3%	$7.55	+171.3%	COMM	50015M109
TRDA	ENTRADA THERAPEUTICS INC	2,088,392 (+257.0%)	$21,469 (+532.8%)	0.7%	$12.20	—	COMM	29384C108
ARVN	ARVINAS HOLDING CO LLC	2,666,216 (+64.8%)	$31,621 (+129.5%)	1.0%	$8.90	+22.7%	COMM	04335A105
RLAY	RELAY THERAPEUTICS INC	3,220,186 (+77.9%)	$27,243 (+188.3%)	0.9%	$5.27	+35.5%	COMM	75943R102

Exited Positions (5)

— TOURMALINE BIO INC 2.1%

Value ($000) $62,743 Shares 1,311,783 Est. Cost $25.14 Unrealized —

IRON DISC MEDICINE INC 1.0%

Value ($000) $30,744 Shares 465,257 Est. Cost $33.98 Unrealized +148.7%

— ASTRIA THERAPEUTICS INC 0.7%

Value ($000) $20,106 Shares 2,761,861 Est. Cost $14.07 Unrealized —

— ADVERUM BIOTECHNOLOGIES INC 0.3%

Value ($000) $7,557 Shares 1,668,174 Est. Cost $7.02 Unrealized —

PEPG PEPGEN INC 0.2%

Value ($000) $5,544 Shares 1,200,000 Est. Cost $1.61 Unrealized +222.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
—	TOURMALINE BIO INC	1,311,783	$62,743	2.1%	$25.14	—	—	89157D105
IRON	DISC MEDICINE INC	465,257	$30,744	1.0%	$33.98	+148.7%	—	254604101
—	ASTRIA THERAPEUTICS INC	2,761,861	$20,106	0.7%	$14.07	—	—	04635X102
—	ADVERUM BIOTECHNOLOGIES INC	1,668,174	$7,557	0.3%	$7.02	—	—	00773U207
PEPG	PEPGEN INC	1,200,000	$5,544	0.2%	$1.61	+222.0%	—	713317105

Decreased Positions (6)

COGT COGENT BIOSCIENCES INC 6.9%

Value ($000) $208,437 (+113.5%) Shares 5,868,162 (-13.7%) Est. Cost $9.05 Unrealized +210.6%

GPCR STRUCTURE THERAPEUTICS INC 2.1%

Value ($000) $64,046 (+115.2%) Shares 920,857 (-13.4%) Est. Cost $43.45 Unrealized —

AGIO AGIOS PHARMACEUTICALS INC 1.1%

Value ($000) $32,170 (-44.0%) Shares 1,181,841 (-17.4%) Est. Cost $34.05 Unrealized +3.0%

UPB UPSTREAM BIO INC 0.7%

Value ($000) $20,197 (-49.3%) Shares 743,886 (-64.9%) Est. Cost $22.33 Unrealized +11.5%

MNPR MONOPAR THERAPEUTICS INC 0.3%

Value ($000) $9,267 (-25.8%) Shares 141,915 (-7.2%) Est. Cost $44.70 Unrealized +82.8%

OCUL OCULAR THERAPEUTIX INC 2.3%

Value ($000) $69,686 (-2.6%) Shares 5,740,231 (-6.2%) Est. Cost $7.73 Unrealized +57.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
COGT	COGENT BIOSCIENCES INC	5,868,162 (-13.7%)	$208,437 (+113.5%)	6.9%	$9.05	+210.6%	COMM	19240Q201
GPCR	STRUCTURE THERAPEUTICS INC	920,857 (-13.4%)	$64,046 (+115.2%)	2.1%	$43.45	—	ADRS	86366E106
AGIO	AGIOS PHARMACEUTICALS INC	1,181,841 (-17.4%)	$32,170 (-44.0%)	1.1%	$34.05	+3.0%	COMM	00847X104
UPB	UPSTREAM BIO INC	743,886 (-64.9%)	$20,197 (-49.3%)	0.7%	$22.33	+11.5%	COMM	91678A107
MNPR	MONOPAR THERAPEUTICS INC	141,915 (-7.2%)	$9,267 (-25.8%)	0.3%	$44.70	+82.8%	COMM	61023L207
OCUL	OCULAR THERAPEUTIX INC	5,740,231 (-6.2%)	$69,686 (-2.6%)	2.3%	$7.73	+57.1%	COMM	67576A100

Unchanged Positions (20)

ABVX ABIVAX SA AMERICAN DEPOSITARY SHARES 31.7%

Value ($000) $959,034 Shares 7,111,596 Est. Cost $23.46 Unrealized —

TYRA TYRA BIOSCIENCES INC 2.5%

Value ($000) $76,191 Shares 2,898,103 Est. Cost $12.78 Unrealized +43.7%

DYN DYNE THERAPEUTICS INC 3.0%

Value ($000) $90,272 Shares 4,615,144 Est. Cost $14.30 Unrealized +32.4%

SVRA SAVARA INC 2.5%

Value ($000) $74,544 Shares 12,362,205 Est. Cost $3.73 Unrealized +31.2%

LQDA LIQUIDIA TECHNOLOGIES INC 2.0%

Value ($000) $58,981 Shares 1,710,084 Est. Cost $21.69 Unrealized +31.2%

KRRO KORRO BIO INC 0.1%

Value ($000) $3,335 Shares 416,301 Est. Cost $22.19 Unrealized +5.3%

EYPT EYEPOINT PHARMACEUTICALS INC 2.2%

Value ($000) $65,267 Shares 3,572,335 Est. Cost $10.51 Unrealized +34.8%

RVMD REVOLUTION MEDICINES INC 1.2%

Value ($000) $34,765 Shares 436,473 Est. Cost $39.15 Unrealized +67.5%

LBRX LB PHARMACEUTICALS INC 1.3%

Value ($000) $38,844 Shares 1,745,015 Est. Cost $15.87 Unrealized +10.1%

FULC FULCRUM THERAPEUTICS INC 2.0%

Value ($000) $59,378 Shares 5,250,000 Est. Cost $7.42 Unrealized +37.2%

AMLX AMYLYX PHARMACEUTICALS INC 2.5%

Value ($000) $75,425 Shares 6,243,812 Est. Cost $2.86 Unrealized +374.1%

MBX MBX BIOSCIENCES INC 0.7%

Value ($000) $20,501 Shares 650,000 Est. Cost $22.87 Unrealized +6.1%

XNCR XENCOR INC 1.2%

Value ($000) $37,542 Shares 2,452,138 Est. Cost $18.82 Unrealized -20.6%

VTGN VISTAGEN THERAPEUTICS INC 0.1%

Value ($000) $1,772 Shares 2,676,580 Est. Cost $3.41 Unrealized +5.9%

CGON CG ONCOLOGY INC 5.0%

Value ($000) $152,387 Shares 3,670,206 Est. Cost $40.67 Unrealized +1.7%

DNTH DIANTHUS THERAPEUTICS INC 2.3%

Value ($000) $69,094 Shares 1,676,624 Est. Cost $25.70 Unrealized +50.9%

SLN SILENCE THERAPEUTICS PLC 0.6%

Value ($000) $18,444 Shares 3,033,560 Est. Cost $14.21 Unrealized —

AVTX AVALO THERAPEUTICS INC 0.3%

Value ($000) $8,771 Shares 483,000 Est. Cost $10.31 Unrealized +63.7%

URGN UROGEN PHARMA LTD 0.6%

Value ($000) $16,800 Shares 717,347 Est. Cost $17.96 Unrealized +20.8%

VTYX VENTYX BIOSCIENCES INC 0.1%

Value ($000) $2,855 Shares 316,195 Est. Cost $29.94 Unrealized -75.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ABVX	ABIVAX SA AMERICAN DEPOSITARY SHARES	7,111,596	$959,034	31.7%	$23.46	—	ADRS	00370M103
TYRA	TYRA BIOSCIENCES INC	2,898,103	$76,191	2.5%	$12.78	+43.7%	COMM	90240B106
DYN	DYNE THERAPEUTICS INC	4,615,144	$90,272	3.0%	$14.30	+32.4%	COMM	26818M108
SVRA	SAVARA INC	12,362,205	$74,544	2.5%	$3.73	+31.2%	COMM	805111101
LQDA	LIQUIDIA TECHNOLOGIES INC	1,710,084	$58,981	2.0%	$21.69	+31.2%	COMM	53635D202
KRRO	KORRO BIO INC	416,301	$3,335	0.1%	$22.19	+5.3%	COMM	500946108
EYPT	EYEPOINT PHARMACEUTICALS INC	3,572,335	$65,267	2.2%	$10.51	+34.8%	COMM	30233G209
RVMD	REVOLUTION MEDICINES INC	436,473	$34,765	1.2%	$39.15	+67.5%	COMM	76155X100
LBRX	LB PHARMACEUTICALS INC	1,745,015	$38,844	1.3%	$15.87	+10.1%	COMM	50180M108
FULC	FULCRUM THERAPEUTICS INC	5,250,000	$59,378	2.0%	$7.42	+37.2%	COMM	359616109
AMLX	AMYLYX PHARMACEUTICALS INC	6,243,812	$75,425	2.5%	$2.86	+374.1%	COMM	03237H101
MBX	MBX BIOSCIENCES INC	650,000	$20,501	0.7%	$22.87	+6.1%	COMM	55287L101
XNCR	XENCOR INC	2,452,138	$37,542	1.2%	$18.82	-20.6%	COMM	98401F105
VTGN	VISTAGEN THERAPEUTICS INC	2,676,580	$1,772	0.1%	$3.41	+5.9%	COMM	92840H400
CGON	CG ONCOLOGY INC	3,670,206	$152,387	5.0%	$40.67	+1.7%	COMM	156944100
DNTH	DIANTHUS THERAPEUTICS INC	1,676,624	$69,094	2.3%	$25.70	+50.9%	COMM	252828108
SLN	SILENCE THERAPEUTICS PLC	3,033,560	$18,444	0.6%	$14.21	—	ADRS	82686Q101
AVTX	AVALO THERAPEUTICS INC	483,000	$8,771	0.3%	$10.31	+63.7%	COMM	05338F306
URGN	UROGEN PHARMA LTD	717,347	$16,800	0.6%	$17.96	+20.8%	COMM	M96088105
VTYX	VENTYX BIOSCIENCES INC	316,195	$2,855	0.1%	$29.94	-75.0%	COMM	92332V107