Trails Edge Capital Partners, LP
Filing Date
Dec 31, 2025
Global Rank
#2,928
/ 8,420
Top Industry
Biotechnology
100.0%
3Y Alpha vs SPY
-3.9%
Period ended 6 months ago
Filed Feb 17, 2026 · 4mo
Clone Performance
Feb 2026–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+8.0%
SPY
+9.1%
Annualised alpha
-3.9%
Max drawdown
−12.1%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
22 positions · as of Dec 31, 2025Top Position
10.2%
of portfolio value
Top 5
44.0%
of portfolio value
Top 10
69.6%
of portfolio value
HHI
616
Diversified
Sector Breakdown
As of Dec 31, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 100.0% | $370,349,055 |
22 positions ·
$370,349,055 total
· as of Dec 31, 2025
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| ACAD |
Acadia Pharmaceuticals Inc
Healthcare
|
First | 1,419,406 | $37,912,334 | 10.24% | |
| PCVX |
Vaxcyte, Inc.
Healthcare
|
First | 737,470 | $34,026,865 | 9.19% | |
| NRIX |
Nurix Therapeutics, Inc.
Healthcare
|
First | 1,743,220 | $33,068,883 | 8.93% | |
| LBRX |
Lb Pharmaceuticals Inc
Healthcare
|
First | 1,395,608 | $31,066,234 | 8.39% | |
| XENE |
Xenon Pharmaceuticals Inc.
Healthcare
|
First | 597,092 | $26,761,663 | 7.23% | |
| IMCR |
Immunocore Holdings plc
Healthcare
|
First | 682,597 | $23,692,941 | 6.40% | |
| RCUS |
Arcus Biosciences, Inc.
Healthcare
|
First | 916,313 | $21,835,738 | 5.90% | |
| TYRA |
Tyra Biosciences, Inc.
Healthcare
|
First | 700,000 | $18,403,000 | 4.97% | |
| NGNE |
Neurogene Inc.
Healthcare
|
First | 785,000 | $16,171,000 | 4.37% | |
| FOLD |
AMICUS THERAPEUTICS, INC.
Healthcare
|
First | 1,043,313 | $14,856,777 | 4.01% | |
| APGE |
Apogee Therapeutics, Inc.
Healthcare
|
First | 192,000 | $14,492,160 | 3.91% | |
| IKT |
Inhibikase Therapeutics, Inc.
Healthcare
|
First | 6,178,124 | $12,665,154 | 3.42% | |
| IVA |
Inventiva S.A.
Healthcare
|
First | 2,657,997 | $12,359,686 | 3.34% | |
| CAMP |
Camp4 Therapeutics Corp
Healthcare
|
First | 1,983,986 | $12,161,834 | 3.28% | |
| TERN |
Terns Pharmaceuticals, Inc.
Healthcare
|
First | 300,000 | $12,120,000 | 3.27% | |
| XFOR |
X4 Pharmaceuticals, Inc
Healthcare
|
First | 2,571,478 | $10,285,912 | 2.78% | |
| MBX |
MBX Biosciences, Inc.
Healthcare
|
First | 315,158 | $9,940,083 | 2.68% | |
| VTVT |
vTv Therapeutics Inc.
Healthcare
|
First | 231,000 | $9,237,690 | 2.49% | |
| CMPX |
Compass Therapeutics, Inc.
Healthcare
|
First | 1,415,273 | $7,600,016 | 2.05% | |
| IMVT |
Immunovant, Inc.
Healthcare
|
First | 240,165 | $6,104,994 | 1.65% | |
| ELVN |
Enliven Therapeutics, Inc.
Healthcare
|
First | 199,306 | $3,069,312 | 0.83% | |
| MIRM |
Mirum Pharmaceuticals, Inc.
Healthcare
|
First | 31,862 | $2,516,779 | 0.68% |