Trails Edge Capital Partners, LP 13F holdings
Trails Edge Capital Partners, LP reported 35 positions with a total reported value of $629.9M as of 2026-06-30, in its 13F for Q2 2026, filed 2026-08-14. Top holdings by reported value: LBRX LB PHARMACEUTICALS INC (7.8%), NRIX NURIX THERAPEUTICS INC (6.1%), IMCR IMMUNOCORE HLDGS PLC (5.4%), TRAX FIRST TRACKS BIOTHERAPEUTICS (4.8%), FDMT 4D MOLECULAR THERAPEUTICS IN (4.7%). Against 2026-03-31 it opened 13 new positions and exited 4. Next 13F due by 2026-11-14, the legal deadline 45 days after the quarter ending 2026-09-30.
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Top holdings
25 largest of 35 positions · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| LBRX LB PHARMACEUTICALS INC | 1,523,022 | $49.4M | 7.8% |
| NRIX NURIX THERAPEUTICS INC | 1,573,220 | $38.2M | 6.1% |
| IMCR IMMUNOCORE HLDGS PLC | 1,063,234 | $33.8M | 5.4% |
| TRAX FIRST TRACKS BIOTHERAPEUTICS | 1,514,000 | $30.5M | 4.8% |
| FDMT 4D MOLECULAR THERAPEUTICS IN | 2,227,917 | $29.6M | 4.7% |
| BMRN BIOMARIN PHARMACEUTICAL INC | 512,000 | $29.3M | 4.7% |
| DSGN DESIGN THERAPEUTICS INC | 2,001,282 | $29.0M | 4.6% |
| XENE XENON PHARMACEUTICALS INC | 440,000 | $26.6M | 4.2% |
| MIRM MIRUM PHARMACEUTICALS INC | 223,312 | $26.1M | 4.2% |
| INSM INSMED INC | 230,331 | $24.6M | 3.9% |
| CYTK CYTOKINETICS INC | 288,089 | $24.5M | 3.9% |
| SNDX SYNDAX PHARMACEUTICALS INC | 1,110,000 | $24.3M | 3.9% |
| NGNE NEUROGENE INC | 714,885 | $22.5M | 3.6% |
| KLRA KAILERA THERAPEUTICS INC | 984,786 | $21.7M | 3.4% |
| RVMD REVOLUTION MEDICINES INC | 115,750 | $21.7M | 3.4% |
| IKT INHIBIKASE THERAPEUTICS INC | 9,051,318 | $18.4M | 2.9% |
| INCY INCYTE CORP | 155,000 | $17.6M | 2.8% |
| AVTX AVALO THERAPEUTICS INC | 891,881 | $16.5M | 2.6% |
| MLTX MOONLAKE IMMUNOTHERAPEUTICS | 750,000 | $14.6M | 2.3% |
| FTH FAETH THERAPEUTICS INC | 515,335 | $12.9M | 2.0% |
| XFOR X4 PHARMACEUTICALS INC | 2,571,478 | $12.0M | 1.9% |
| IRD OPUS GENETICS INC | 2,743,658 | $11.3M | 1.8% |
| SLGL SOL-GEL TECHNOLOGIES LTD | 139,445 | $10.3M | 1.6% |
| AURA AURA BIOSCIENCES INC | 1,443,333 | $10.2M | 1.6% |
| IPSC CENTURY THERAPEUTICS INC | 4,134,969 | $10.1M | 1.6% |
SEC FORM 13F · Q2 2026 · VALUES AS REPORTED, NOT PRICES
New positions this quarter
Held at 2026-06-30, not at 2026-03-31 · 13 in all · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| TRAX FIRST TRACKS BIOTHERAPEUTICS | 1,514,000 | $30.5M | 4.8% |
| BMRN BIOMARIN PHARMACEUTICAL INC | 512,000 | $29.3M | 4.7% |
| INSM INSMED INC | 230,331 | $24.6M | 3.9% |
| KLRA KAILERA THERAPEUTICS INC | 984,786 | $21.7M | 3.4% |
| INCY INCYTE CORP | 155,000 | $17.6M | 2.8% |
| AVTX AVALO THERAPEUTICS INC | 891,881 | $16.5M | 2.6% |
| MLTX MOONLAKE IMMUNOTHERAPEUTICS | 750,000 | $14.6M | 2.3% |
| AURA AURA BIOSCIENCES INC | 1,443,333 | $10.2M | 1.6% |
| ALT ALTIMMUNE INC | 2,660,000 | $8.1M | 1.3% |
| OKUR ONKURE THERAPEUTICS INC | 1,438,456 | $6.6M | 1.0% |
| FBRX FORTE BIOSCIENCES INC | 273,181 | $5.8M | 0.9% |
| RACC RESEARCH ALLIANCE CORP III | 500,000 | $5.3M | 0.8% |
| IMA IMAGENEBIO INC | 282,004 | $1.7M | 0.3% |
Sold out
Held at 2026-03-31, gone by 2026-06-30 · 4 in all · reported value as of 2026-03-31
Biggest increases and decreases
Positions held at both quarter ends, by change in shares · reported value as of 2026-06-30
Increases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| DSGN DESIGN THERAPEUTICS INC | 852,013 | 2,001,282 | +134.9% | $29.0M |
| FDMT 4D MOLECULAR THERAPEUTICS IN | 1,302,917 | 2,227,917 | +71.0% | $29.6M |
| IMCR IMMUNOCORE HLDGS PLC | 682,597 | 1,063,234 | +55.8% | $33.8M |
| FTH FAETH THERAPEUTICS INC | 125,000 | 515,335 | +312.3% | $12.9M |
| IRD OPUS GENETICS INC | 500,000 | 2,743,658 | +448.7% | $11.3M |
| SNDX SYNDAX PHARMACEUTICALS INC | 701,821 | 1,110,000 | +58.2% | $24.3M |
| LBRX LB PHARMACEUTICALS INC | 1,319,362 | 1,523,022 | +15.4% | $49.4M |
| IPSC CENTURY THERAPEUTICS INC | 2,449,993 | 4,134,969 | +68.8% | $10.1M |
| SLGL SOL-GEL TECHNOLOGIES LTD | 85,496 | 139,445 | +63.1% | $10.3M |
| IKT INHIBIKASE THERAPEUTICS INC | 8,057,345 | 9,051,318 | +12.3% | $18.4M |
Decreases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| RVMD REVOLUTION MEDICINES INC | 245,000 | 115,750 | -52.8% | $21.7M |
| MIRM MIRUM PHARMACEUTICALS INC | 333,312 | 223,312 | -33.0% | $26.1M |
| NRIX NURIX THERAPEUTICS INC | 1,743,220 | 1,573,220 | -9.8% | $38.2M |
| NGNE NEUROGENE INC | 782,787 | 714,885 | -8.7% | $22.5M |
| VTVT VTV THERAPEUTICS INC | 139,578 | 85,192 | -39.0% | $3.2M |
| CYTK CYTOKINETICS INC | 300,000 | 288,089 | -4.0% | $24.5M |
| CAMP CAMP4 THERAPEUTICS CORP | 1,939,563 | 1,932,937 | -0.3% | $8.4M |
CIK 2077247 · 13F FILINGS ON EDGAR · INFORMATIONAL ONLY
