Trails Edge Capital Partners, LP
CIK 2077247 · View on SEC EDGAR ↗
- Portfolio value
- $629.9M
- Positions
- 35
- As of
- June 30, 2026
#3,268 of 9,443 by 13F value · top 34.6%
Portfolio value QoQ: +44.3% 13F does not disclose cash
- Top 10 holdings weight
- 50.32%
- Top 25 holdings weight
- 89.78%
- Positions above 1%
- 31
- Effective number of positions
- 25.6
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 28.26% Est. buys $278,054,422 · sells $150,701,555
- New positions
- 13
- Increased
- 10
- Decreased
- 7
- Closed
- 4
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 95.4% · Options excluded: 1.4%
Sector breakdown
Healthcare
90.9%
Other/Unmapped
9.1%
Full portfolio 35 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| LBRX LB Pharmaceuticals Inc - Common Stock | $49,429,679 | 7.85% | 1,523,022 | $16,894,212 | Up ×1 | ||
| NRIX Nurix Therapeutics, Inc. - Common stock | $38,166,318 | 6.06% | 1,573,220 | $11,146,408 | Down ×1 | ||
| IMCR Immunocore Holdings plc - American Depositary Shares | $33,757,680 | 5.36% | 1,063,234 | $13,177,380 | Up ×1 | ||
| Unknown issuer (CUSIP: 337185102) | $30,461,680 | 4.84% | 1,514,000 | Up ×1 | |||
| FDMT 4D Molecular Therapeutics, Inc. - Common Stock | $29,631,296 | 4.70% | 2,227,917 | $17,501,139 | Up ×1 | ||
| BMRN BioMarin Pharmaceutical Inc. - Common Stock | $29,296,640 | 4.65% | 512,000 | Up ×1 | |||
| DSGN Design Therapeutics, Inc. - Common Stock | $28,958,550 | 4.60% | 2,001,282 | $19,893,132 | Up ×1 | ||
| XENE Xenon Pharmaceuticals Inc. - Common Shares | $26,558,400 | 4.22% | 440,000 | $972,400 | |||
| MIRM Mirum Pharmaceuticals, Inc. - common stock | $26,143,136 | 4.15% | 223,312 | $-4,648,227 | Down ×1 | ||
| INSM Insmed Incorporated - Common Stock | $24,557,891 | 3.90% | 230,331 | Up ×1 | |||
| CYTK Cytokinetics, Incorporated - Common Stock | $24,542,302 | 3.90% | 288,089 | $4,769,302 | Down ×1 | ||
| SNDX Syndax Pharmaceuticals, Inc. - Common Stock | $24,264,600 | 3.85% | 1,110,000 | $7,870,061 | Up ×1 | ||
| NGNE Neurogene Inc. - Common Stock | $22,483,133 | 3.57% | 714,885 | $6,702,147 | Down ×2 | ||
| Unknown issuer (CUSIP: 482931102) | $21,694,836 | 3.44% | 984,786 | Up ×1 | |||
| RVMD Revolution Medicines, Inc. - Common Stock | $21,677,660 | 3.44% | 115,750 | $-2,148,590 | Down ×1 | ||
| IKT Inhibikase Therapeutics, Inc. - Common Stock | $18,374,176 | 2.92% | 9,051,318 | $4,837,836 | Up ×2 | ||
| INCY Incyte Corporation - Common Stock | $17,570,800 | 2.79% | 155,000 | Up ×1 | |||
| AVTX Avalo Therapeutics, Inc. - Common Stock | $16,481,961 | 2.62% | 891,881 | Up ×1 | |||
| MLTX MoonLake Immunotherapeutics - Class A Ordinary Shares | $14,602,500 | 2.32% | 750,000 | Up ×1 | |||
| SNSE Sensei Biotherapeutics, Inc. - Common Stock | $12,883,375 | 2.05% | 515,335 | $8,943,375 | Up ×1 | ||
| XFOR X4 Pharmaceuticals, Inc. - Common Stock | $12,008,803 | 1.91% | 2,571,478 | $1,388,599 | |||
| IRD Opus Genetics, Inc. - Common Stock | $11,276,434 | 1.79% | 2,743,658 | $9,001,434 | Up ×1 | ||
| SLGL Sol-Gel Technologies Ltd. - Ordinary Shares | $10,338,452 | 1.64% | 139,445 | $3,565,459 | Up ×1 | ||
| AURA Aura Biosciences, Inc. - Common Stock | $10,247,665 | 1.63% | 1,443,333 | Up ×1 | |||
| IPSC Century Therapeutics, Inc. - Common Stock | $10,130,674 | 1.61% | 4,134,969 | $4,593,690 | Up ×1 | ||
| IVA Inventiva S.A. - American Depository Shares | $10,047,228 | 1.60% | 2,657,997 | $-4,704,655 | |||
| CAMP CAMP4 Therapeutics Corporation - Common Stock | $8,446,935 | 1.34% | 1,932,937 | $-106,537 | Down ×2 | ||
| ALT Altimmune, Inc. - Common Stock | $8,086,400 | 1.28% | 2,660,000 | Up ×1 | |||
| NERV Minerva Neurosciences, Inc - Common Stock | $7,875,450 | 1.25% | 1,419,000 | $-674,025 | |||
| PMN ProMIS Neurosciences Inc. - Common Shares | $7,331,475 | 1.16% | 557,103 | $256,267 | |||
| OKUR OnKure Therapeutics, Inc. - Class A Common Stock | $6,559,359 | 1.04% | 1,438,456 | Up ×1 | |||
| FBRX Forte Biosciences, Inc. - Common Stock | $5,805,097 | 0.92% | 273,181 | Up ×1 | |||
| Unknown issuer (CUSIP: G75226103) | $5,350,000 | 0.85% | 500,000 | Up ×1 | |||
| VTVT vTv Therapeutics Inc. - Class A Common Stock | $3,207,479 | 0.51% | 85,192 | $-2,328,184 | Down ×2 | ||
| IMA ImageneBio, Inc. - Common Stock | $1,663,824 | 0.26% | 282,004 | Up ×1 | |||
| No matches | |||||||
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| Unknown issuer (CUSIP: 337185102) | $30,461,680 | 1,514,000 | 4.84% |
| BMRN | $29,296,640 | 512,000 | 4.65% |
| INSM | $24,557,891 | 230,331 | 3.90% |
| Unknown issuer (CUSIP: 482931102) | $21,694,836 | 984,786 | 3.44% |
| INCY | $17,570,800 | 155,000 | 2.79% |
| AVTX | $16,481,961 | 891,881 | 2.62% |
| MLTX | $14,602,500 | 750,000 | 2.32% |
| AURA | $10,247,665 | 1,443,333 | 1.63% |
| ALT | $8,086,400 | 2,660,000 | 1.28% |
| OKUR | $6,559,359 | 1,438,456 | 1.04% |
| FBRX | $5,805,097 | 273,181 | 0.92% |
| Unknown issuer (CUSIP: G75226103) | $5,350,000 | 500,000 | 0.85% |
| IMA | $1,663,824 | 282,004 | 0.26% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| DSGN | Bought more | +1.1M | +$19.9M |
| FDMT | Bought more | +925K | +$17.5M |
| LBRX | Bought more | +204K | +$16.9M |
| IMCR | Bought more | +381K | +$13.2M |
| NRIX | Trimmed | -170K | +$11.1M |
| IRD | Bought more | +2.2M | +$9.0M |
| SNSE | Bought more | +390K | +$8.9M |
| SNDX | Bought more | +408K | +$7.9M |
| NGNE | Trimmed | -68K | +$6.7M |
| IKT | Bought more | +994K | +$4.8M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| PCVX | June 30, 2026 | 662,470 | $38,496,132 | 7.2% |
| ACAD | March 31, 2026 | 1,419,406 | $37,912,334 | 30.5% |
| MNMD | March 31, 2026 | 2,568,110 | $34,386,993 | No longer tracked |
| DFTX | June 30, 2026 | 1,738,110 | $32,850,280 | -2.1% |
| RCUS | June 30, 2026 | 1,047,935 | $22,635,396 | -2.5% |
| TYRA | March 31, 2026 | 700,000 | $18,403,000 | -31.1% |
| FOLD | March 31, 2026 | 1,043,313 | $14,856,777 | No longer tracked |
| APGE | March 31, 2026 | 192,000 | $14,492,160 | 60.2% |
| TERN | March 31, 2026 | 300,000 | $12,120,000 | No longer tracked |
| IMVT | June 30, 2026 | 414,054 | $10,285,102 | 15.6% |
| MBX | March 31, 2026 | 315,158 | $9,940,084 | 122.2% |
| CMPX | March 31, 2026 | 1,415,273 | $7,600,016 | -54.3% |
| ELVN | March 31, 2026 | 199,306 | $3,069,312 | 51.4% |