Trails Edge Capital Partners, LP 13F holdings, Q4 2025
Holdings as of December 31, 2025 · filings on SEC EDGAR · latest filing →
Trails Edge Capital Partners, LP disclosed 23 US equity positions worth $404.7m in its Q4 2025 13F filing. The largest position was ACAD at 9.4% of the reported book, followed by BRD1EUR and PCVX.
What did Trails Edge Capital Partners, LP own in Q4 2025? Top 23 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs prior |
|---|---|---|---|---|---|---|---|
| 1 | ACAD ACADIA PHARMACEUTICALS INC | Healthcare | 9.4% | $37.9m | 1,419,406 | – | |
| 2 | BRD1EUR MIND MEDICINE MINDMED INC | 8.5% | $34.4m | 2,568,110 | – | ||
| 3 | PCVX VAXCYTE INC | Healthcare | 8.4% | $34.0m | 737,470 | – | |
| 4 | NRIX NURIX THERAPEUTICS INC | Healthcare | 8.2% | $33.1m | 1,743,220 | – | |
| 5 | LB PHARMACEUTICALS INC | 7.7% | $31.1m | 1,395,608 | – | ||
| 6 | XENE XENON PHARMACEUTICALS INC | Healthcare | 6.6% | $26.8m | 597,092 | – | |
| 7 | IMCR IMMUNOCORE HLDGS PLC | Healthcare | 5.9% | $23.7m | 682,597 | – | |
| 8 | RCUS ARCUS BIOSCIENCES INC | Healthcare | 5.4% | $21.8m | 916,313 | – | |
| 9 | TYRA TYRA BIOSCIENCES INC | Healthcare | 4.5% | $18.4m | 700,000 | – | |
| 10 | NGNE NEUROGENE INC | 4.0% | $16.2m | 785,000 | – | ||
| 11 | AM6 AMICUS THERAPEUTICS INC | 3.7% | $14.9m | 1,043,313 | – | ||
| 12 | APGE APOGEE THERAPEUTICS INC | Healthcare | 3.6% | $14.5m | 192,000 | – | |
| 13 | IKT INHIBIKASE THERAPEUTICS INC | 3.1% | $12.7m | 6,178,124 | – | ||
| 14 | IVA INVENTIVA SA | 3.1% | $12.4m | 2,657,997 | – | ||
| 15 | CAMP CAMP4 THERAPEUTICS CORP | 3.0% | $12.2m | 1,983,986 | – | ||
| 16 | 430 TERNS PHARMACEUTICALS INC | 3.0% | $12.1m | 300,000 | – | ||
| 17 | XFOR X4 PHARMACEUTICALS INC | 2.5% | $10.3m | 2,571,478 | – | ||
| 18 | MBX MBX BIOSCIENCES INC | Healthcare | 2.5% | $9.9m | 315,158 | – | |
| 19 | VTVT VTV THERAPEUTICS INC | 2.3% | $9.2m | 231,000 | – | ||
| 20 | CMPX COMPASS THERAPEUTICS INC | 1.9% | $7.6m | 1,415,273 | – | ||
| 21 | IMVT IMMUNOVANT INC | Healthcare | 1.5% | $6.1m | 240,165 | – | |
| 22 | ELVN ENLIVEN THERAPEUTICS INC | Healthcare | 0.8% | $3.1m | 199,306 | – | |
| 23 | MIRM MIRUM PHARMACEUTICALS INC | Healthcare | 0.6% | $2.5m | 31,862 | – |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.