Trails Edge Capital Partners, LP
13F Reported Value
ⓘ$629.9M
Holdings
35
Latest Filing
2026-06-30
Filing Quarter
Q2 2026
Portfolio Overview
Trails Edge Capital Partners, LP disclosed 35 positions worth $629.9M in its Form 13F-HR for Q2 2026, led by $LBRX (LB PHARMACEUTICALS INC) at 7.8% of the equity portfolio, followed by $NRIX and $IMCR. During the quarter the fund opened 13 new positions and exited 5 — including a new stake in $TRAX and a full exit from $PCVX. The portfolio is most concentrated in Healthcare (97.1% 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.
AI Fund Analysis
DiversifyingSector Allocation
AUM History
Top Equity Holdings by Value
Quarterly Activity — Q2 2026
Click any card to unlockTop Holdings
- —
Quality
$49.4M1,523,022 sh - 6.4#2,953
Quality
$38.2M1,573,220 sh - —
Quality
$33.8M1,063,234 sh - $30.5M1,514,000 sh
- 34.5
Quality
$29.6M2,227,917 sh - 58.2
Quality
$29.3M512,000 sh - —
Quality
$29.0M2,001,282 sh - 24.0
Quality
$26.6M440,000 sh - 35.0
Quality
$26.1M223,312 sh - 39.4
Quality
$24.6M230,331 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 LB PHARMACEUTICALS INC$LBRX | — | $49.4M | 1,523,022 |
 Nurix Therapeutics, Inc.$NRIX | 6.4#2,953 | $38.2M | 1,573,220 |
 Immunocore Holdings plc$IMCR | — | $33.8M | 1,063,234 |
 First Tracks Biotherapeutics, Inc.$TRAX | — | $30.5M | 1,514,000 |
 4D Molecular Therapeutics, Inc.$FDMT | 34.5 | $29.6M | 2,227,917 |
 BIOMARIN PHARMACEUTICAL INC$BMRN | 58.2 | $29.3M | 512,000 |
 Design Therapeutics, Inc.$DSGN | — | $29.0M | 2,001,282 |
 Xenon Pharmaceuticals Inc.$XENE | 24.0 | $26.6M | 440,000 |
 Mirum Pharmaceuticals, Inc.$MIRM | 35.0 | $26.1M | 223,312 |
 INSMED Inc$INSM | 39.4 | $24.6M | 230,331 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Trails Edge Capital Partners, LP's 35 positions.
Showing top 10 of 35 holdings.
Sector Allocation
Healthcare
$611.7M
Other
$12.9M
Financials
$5.3M
Full Holdings — Trails Edge Capital Partners, LP (Q2 2026)
All 35 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 | $LBRX | LB PHARMACEUTICALS INC | $49.4M | 7.8% | +15% | — |
| 2 | $NRIX | Nurix Therapeutics, Inc. | $38.2M | 6.1% | -10% | 6.4 |
| 3 | $IMCR | Immunocore Holdings plc | $33.8M | 5.4% | +56% | — |
| 4 | $TRAX | First Tracks Biotherapeutics, Inc. | $30.5M | 4.8% | NEW | — |
| 5 | $FDMT | 4D Molecular Therapeutics, Inc. | $29.6M | 4.7% | +71% | 34.5 |
| 6 | $BMRN | BIOMARIN PHARMACEUTICAL INC | $29.3M | 4.7% | NEW | 58.2 |
| 7 | $DSGN | Design Therapeutics, Inc. | $29.0M | 4.6% | +135% | — |
| 8 | $XENE | Xenon Pharmaceuticals Inc. | $26.6M | 4.2% | +0% | 24 |
| 9 | $MIRM | Mirum Pharmaceuticals, Inc. | $26.1M | 4.2% | -33% | 35 |
| 10 | $INSM | INSMED Inc | $24.6M | 3.9% | NEW | 39.4 |
| 11 |  $CYTK | CYTOKINETICS INC | $24.5M | 3.9% | -4% | 28.1 |
| 12 |  $SNDX | Syndax Pharmaceuticals Inc | $24.3M | 3.9% | +58% | 33.8 |
| 13 |  $NGNE | Neurogene Inc. | $22.5M | 3.6% | -9% | 27.4 |
| 14 |  $KLRA | Kailera Therapeutics, Inc. | $21.7M | 3.4% | NEW | — |
| 15 |  $RVMD | Revolution Medicines, Inc. | $21.7M | 3.4% | -53% | — |
| 16 |  $IKT | Inhibikase Therapeutics, Inc. | $18.4M | 2.9% | +12% | — |
| 17 |  $INCY | INCYTE CORP | $17.6M | 2.8% | NEW | 77.4 |
| 18 |  $AVTX | Avalo Therapeutics, Inc. | $16.5M | 2.6% | NEW | 11.7 |
| 19 |  $MLTX | MoonLake Immunotherapeutics | $14.6M | 2.3% | NEW | — |
| 20 | — | FAETH THERAPEUTICS INC - COM NEW | $12.9M | 2.0% | +312% | — |
| 21 |  $XFOR | X4 Pharmaceuticals, Inc | $12.0M | 1.9% | +0% | 28 |
| 22 |  $IRD | Opus Genetics, Inc. | $11.3M | 1.8% | +449% | — |
| 23 |  $SLGL | Sol-Gel Technologies Ltd. | $10.3M | 1.6% | +63% | — |
| 24 |  $AURA | Aura Biosciences, Inc. | $10.2M | 1.6% | NEW | — |
| 25 |  $IPSC | Century Therapeutics, Inc. | $10.1M | 1.6% | +69% | 33.5 |
| 26 |  $IVA | Inventiva S.A. | $10.0M | 1.6% | +0% | — |
| 27 |  $CAMP | Camp4 Therapeutics Corp | $8.4M | 1.3% | -0% | 25.3 |
| 28 |  $ALT | Altimmune, Inc. | $8.1M | 1.3% | NEW | 8 |
| 29 |  $NERV | Minerva Neurosciences, Inc. | $7.9M | 1.3% | +0% | — |
| 30 |  $PMN | ProMIS Neurosciences Inc. | $7.3M | 1.2% | +0% | — |
| 31 |  $OKUR | OnKure Therapeutics, Inc. | $6.6M | 1.0% | NEW | — |
| 32 |  $FBRX | Forte Biosciences, Inc. | $5.8M | 0.9% | NEW | — |
| 33 |  $RACC | Research Alliance Corp III | $5.3M | 0.8% | NEW | — |
| 34 |  $VTVT | vTv Therapeutics Inc. | $3.2M | 0.5% | -39% | — |
| 35 |  $IMA | ImageneBio, Inc. | $1.7M | 0.3% | NEW | 6.6 |
New Positions (13)
$TRAX First Tracks Biotherapeutics, Inc.$30.5M$BMRN BIOMARIN PHARMACEUTICAL INC$29.3M$INSM INSMED Inc$24.6M$KLRA Kailera Therapeutics, Inc.$21.7M$INCY INCYTE CORP$17.6M$AVTX Avalo Therapeutics, Inc.$16.5M$MLTX MoonLake Immunotherapeutics$14.6M$AURA Aura Biosciences, Inc.$10.2M$ALT Altimmune, Inc.$8.1M$OKUR OnKure Therapeutics, Inc.$6.6M$FBRX Forte Biosciences, Inc.$5.8M$RACC Research Alliance Corp III$5.3M$IMA ImageneBio, Inc.$1.7M
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