Trails Edge Capital Partners, LP
13F Reported Value
ⓘ$436.5M
incl. option notional
Equity Holdings
ⓘ$424.9M
Option Notional
ⓘ$11.6M
$11.6M puts / $0 calls
Holdings
27
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
Trails Edge Capital Partners, LP disclosed 27 positions worth $436.5M in its Form 13F-HR for Q1 2026 — $424.9M in common stock plus $11.6M of put/call option positions (reported at underlying notional value, not premium at risk), led by $PCVX (Vaxcyte, Inc.) at 9.1% of the equity portfolio, followed by $DFTX and $LBRX. During the quarter the fund opened 13 new positions and exited 9 — including a new stake in $DFTX and a full exit from $ACAD. The portfolio is most concentrated in Healthcare (99.1% of disclosed assets). All figures are sourced directly from Trails Edge Capital Partners, LP’s Form 13F-HR filing with the SEC under CIK 2077247.
Sector Allocation
AUM History
Top Equity Holdings by Value
Option Positions
13F rules report options at the value of the underlying shares (notional) — not the premium paid or capital at risk. Shown separately from the equity sleeve above.
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
- —
Quality
$38.5M662,470 sh - —
Quality
$32.9M1,738,110 sh - —
Quality
$32.5M1,319,362 sh - 32.7
Quality
$30.8M333,312 sh - 13.2
Quality
$27.0M1,743,220 sh - 12.9
Quality
$25.6M440,000 sh - —
Quality
$23.8M245,000 sh - 12.0
Quality
$22.6M1,047,935 sh - —
Quality
$20.6M682,597 sh - 28.0
Quality
$19.8M300,000 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 Vaxcyte, Inc.$PCVX | — | $38.5M | 662,470 |
 Definium Therapeutics, Inc.$DFTX | — | $32.9M | 1,738,110 |
 LB PHARMACEUTICALS INC$LBRX | — | $32.5M | 1,319,362 |
 Mirum Pharmaceuticals, Inc.$MIRM | 32.7 | $30.8M | 333,312 |
 Nurix Therapeutics, Inc.$NRIX | 13.2 | $27.0M | 1,743,220 |
 Xenon Pharmaceuticals Inc.$XENE | 12.9 | $25.6M | 440,000 |
 Revolution Medicines, Inc.$RVMD | — | $23.8M | 245,000 |
 Arcus Biosciences, Inc.$RCUS | 12.0 | $22.6M | 1,047,935 |
 Immunocore Holdings plc$IMCR | — | $20.6M | 682,597 |
 CYTOKINETICS INC$CYTK | 28.0 | $19.8M | 300,000 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Trails Edge Capital Partners, LP's 27 positions.
Showing top 10 of 27 holdings.
Sector Allocation
Healthcare
$421.0M
Other
$3.9M
Full Holdings — Trails Edge Capital Partners, LP (Q1 2026)
All 27 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $PCVX | Vaxcyte, Inc. | $38.5M | 9.1% | -10% | — |
| 2 | $DFTX | Definium Therapeutics, Inc. | $32.9M | 7.7% | NEW | — |
| 3 | $LBRX | LB PHARMACEUTICALS INC | $32.5M | 7.7% | -5% | — |
| 4 | $MIRM | Mirum Pharmaceuticals, Inc. | $30.8M | 7.3% | +946% | 32.7 |
| 5 | $NRIX | Nurix Therapeutics, Inc. | $27.0M | 6.4% | +0% | 13.2 |
| 6 | $XENE | Xenon Pharmaceuticals Inc. | $25.6M | 6.0% | -26% | 12.9 |
| 7 | $RVMD | Revolution Medicines, Inc. | $23.8M | 5.6% | NEW | — |
| 8 | $RCUS | Arcus Biosciences, Inc. | $22.6M | 5.3% | +14% | 12 |
| 9 | $IMCR | Immunocore Holdings plc | $20.6M | 4.8% | +0% | — |
| 10 | $CYTK | CYTOKINETICS INC | $19.8M | 4.7% | NEW | 28 |
| 11 |  $SNDX | Syndax Pharmaceuticals Inc | $16.4M | 3.9% | NEW | 30 |
| 12 |  $NGNE | Neurogene Inc. | $15.8M | 3.7% | -0% | — |
| 13 |  $IVA | Inventiva S.A. | $14.8M | 3.5% | +0% | — |
| 14 |  $IKT | Inhibikase Therapeutics, Inc. | $13.5M | 3.2% | +30% | — |
| 15 |  $FDMT | 4D Molecular Therapeutics, Inc. | $12.1M | 2.9% | NEW | 23.2 |
| 16 | $XENEPUT | Xenon Pharmaceuticals Inc. | $11.6M | — | NEW | 12.9 |
| 17 |  $XFOR | X4 Pharmaceuticals, Inc | $10.6M | 2.5% | +0% | 29.3 |
| 18 |  $IMVT | Immunovant, Inc. | $10.3M | 2.4% | +72% | — |
| 19 |  $DSGN | Design Therapeutics, Inc. | $9.1M | 2.1% | NEW | — |
| 20 |  $CAMP | Camp4 Therapeutics Corp | $8.6M | 2.0% | -2% | 23.3 |
| 21 |  $NERV | Minerva Neurosciences, Inc. | $8.5M | 2.0% | NEW | — |
| 22 |  $PMN | ProMIS Neurosciences Inc. | $7.1M | 1.7% | NEW | — |
| 23 |  $SLGL | Sol-Gel Technologies Ltd. | $6.8M | 1.6% | NEW | — |
| 24 |  $IPSC | Century Therapeutics, Inc. | $5.5M | 1.3% | NEW | 43.5 |
| 25 |  $VTVT | vTv Therapeutics Inc. | $5.5M | 1.3% | -40% | — |
| 26 | — | SENSEI BIOTHERAPEUTICS INC | $3.9M | 0.9% | NEW | — |
| 27 |  $IRD | Opus Genetics, Inc. | $2.3M | 0.5% | NEW | — |
New Positions (13)
$DFTX Definium Therapeutics, Inc.$32.9M$RVMD Revolution Medicines, Inc.$23.8M$CYTK CYTOKINETICS INC$19.8M$SNDX Syndax Pharmaceuticals Inc$16.4M$FDMT 4D Molecular Therapeutics, Inc.$12.1M$XENEPUT Xenon Pharmaceuticals Inc.$11.6M$DSGN Design Therapeutics, Inc.$9.1M$NERV Minerva Neurosciences, Inc.$8.5M$PMN ProMIS Neurosciences Inc.$7.1M$SLGL Sol-Gel Technologies Ltd.$6.8M$IPSC Century Therapeutics, Inc.$5.5M$IRD Opus Genetics, Inc.$2.3M
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