Trails Edge Capital Partners, LP: 13F holdings, Q2 2026
Hedge fund · SEC EDGAR filings (CIK 2077247) · Explore on the interactive board
Trails Edge Capital Partners, LP disclosed 35 US equity positions worth $629.9m in its Q2 2026 13F filing (holdings as of June 30, 2026, filed August 14, 2026). Its largest position is LB PHARMACEUTICALS INC at 7.8% of the reported book, followed by NRIX, IMCR. The top ten holdings are 50.3% of the book, and the portfolio behaves like about 26 equal-weight positions. Versus the prior filing it opened 13 new positions, added to 10, reduced 6 and exited 4. Note: this manager's most recent filing is 3934 quarters behind the newest quarter on file, so these figures are history rather than current positioning.
What does Trails Edge Capital Partners, LP own? Top holdings as of June 30, 2026
Change is measured in shares against the previous filing (Q1 2026), so price moves do not read as decisions. This quarter: 13 new, 10 added, 6 reduced, 4 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | LB PHARMACEUTICALS INC | 7.8% | $49.4m | 1,523,022 | 15% | added | |
| 2 | NRIX NURIX THERAPEUTICS INC | Healthcare | 6.1% | $38.2m | 1,573,220 | -10% | reduced |
| 3 | IMCR IMMUNOCORE HLDGS PLC | Healthcare | 5.4% | $33.8m | 1,063,234 | 56% | added |
| 4 | TRAX FIRST TRACKS BIOTHERAPEUTICS | 4.8% | $30.5m | 1,514,000 | – | new | |
| 5 | FDMT 4D MOLECULAR THERAPEUTICS IN | Healthcare | 4.7% | $29.6m | 2,227,917 | 71% | added |
| 6 | BMRN BIOMARIN PHARMACEUTICAL INC | Healthcare | 4.7% | $29.3m | 512,000 | – | new |
| 7 | DSGN DESIGN THERAPEUTICS INC | Healthcare | 4.6% | $29.0m | 2,001,282 | 135% | added |
| 8 | XENE XENON PHARMACEUTICALS INC | Healthcare | 4.2% | $26.6m | 440,000 | 0% | held |
| 9 | MIRM MIRUM PHARMACEUTICALS INC | Healthcare | 4.2% | $26.1m | 223,312 | -33% | reduced |
| 10 | INSM INSMED INC | Healthcare | 3.9% | $24.6m | 230,331 | – | new |
| 11 | CYTK CYTOKINETICS INC | Healthcare | 3.9% | $24.5m | 288,089 | -4% | reduced |
| 12 | SNDX SYNDAX PHARMACEUTICALS INC | Healthcare | 3.9% | $24.3m | 1,110,000 | 58% | added |
| 13 | NGNE NEUROGENE INC | 3.6% | $22.5m | 714,885 | -9% | reduced | |
| 14 | KAILERA THERAPEUTICS INC | 3.4% | $21.7m | 984,786 | – | new | |
| 15 | RVMD REVOLUTION MEDICINES INC | Healthcare | 3.4% | $21.7m | 115,750 | -53% | reduced |
| 16 | IKT INHIBIKASE THERAPEUTICS INC | 2.9% | $18.4m | 9,051,318 | 12% | added | |
| 17 | INCY INCYTE CORP | Healthcare | 2.8% | $17.6m | 155,000 | – | new |
| 18 | AVTX AVALO THERAPEUTICS INC | Healthcare | 2.6% | $16.5m | 891,881 | – | new |
| 19 | MLTX MOONLAKE IMMUNOTHERAPEUTICS | Healthcare | 2.3% | $14.6m | 750,000 | – | new |
| 20 | FTH FAETH THERAPEUTICS INC | 2.0% | $12.9m | 515,335 | 312% | added | |
| 21 | XFOR X4 PHARMACEUTICALS INC | 1.9% | $12.0m | 2,571,478 | 0% | held | |
| 22 | IRD OPUS GENETICS INC | 1.8% | $11.3m | 2,743,658 | 449% | added | |
| 23 | SOL-GEL TECHNOLOGIES LTD | 1.6% | $10.3m | 139,445 | 63% | added | |
| 24 | AURA AURA BIOSCIENCES INC | 1.6% | $10.2m | 1,443,333 | – | new | |
| 25 | IPSC CENTURY THERAPEUTICS INC | Healthcare | 1.6% | $10.1m | 4,134,969 | 69% | added |
| 26 | IVA INVENTIVA SA | 1.6% | $10.0m | 2,657,997 | 0% | held | |
| 27 | CAMP CAMP4 THERAPEUTICS CORP | 1.3% | $8.4m | 1,932,937 | -0% | held | |
| 28 | ALT ALTIMMUNE INC | Healthcare | 1.3% | $8.1m | 2,660,000 | – | new |
| 29 | NERV MINERVA NEUROSCIENCES INC | 1.3% | $7.9m | 1,419,000 | 0% | held | |
| 30 | PROMIS NEUROSCIENCES INC | 1.2% | $7.3m | 557,103 | 0% | held | |
| 31 | OKUR ONKURE THERAPEUTICS INC | 1.0% | $6.6m | 1,438,456 | – | new | |
| 32 | FBRX FORTE BIOSCIENCES INC | 0.9% | $5.8m | 273,181 | – | new | |
| 33 | RESEARCH ALLIANCE CORP III | 0.8% | $5.3m | 500,000 | – | new | |
| 34 | VTVT VTV THERAPEUTICS INC | 0.5% | $3.2m | 85,192 | -39% | reduced | |
| 35 | IMA IMAGENEBIO INC | 0.3% | $1.7m | 282,004 | – | new |
What did Trails Edge Capital Partners, LP sell? Positions exited since the previous filing
| Stock | Prior weight | Prior value |
|---|---|---|
| PCVX VAXCYTE INC | 36.9% | $38.5m |
| DFTX DEFINIUM THERAPEUTICS INC | 31.5% | $32.9m |
| RCUS ARCUS BIOSCIENCES INC | 21.7% | $22.6m |
| IMVT IMMUNOVANT INC | 9.9% | $10.3m |
Sector mix
| Sector | Weight |
|---|---|
| Healthcare | 59.4% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
How concentrated is Trails Edge Capital Partners, LP's portfolio?
Across every quarter Trails Edge Capital Partners, LP has filed, its median largest position is 8.5% of the book and its median top-ten weight is 57.4%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 4.0 completed holding spells, the median lasted 1.0 quarters; 35.0 positions are still open and their final length is unknown.