Trails Edge Capital Partners, LP
Filing Date
Global Rank
#2,823
/ 8,622
▲ 320
· as of Mar 2026
Top Industry
Biotechnology
100.0%
3Y Alpha vs SPY
+79.0%
Period ended 4 months ago
Filed May 15, 2026 · 2mo
2 quarters · since Dec 2025
Clone Performance
Feb 2026–Jul 2026 · vs SPYHypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.
Cloned portfolio
+33.3%
SPY
+9.0%
Annualised alpha
+67.9%
Max drawdown
−12.0%
Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 99% of reported value on average across 2 quarters. Past performance does not predict future results.
Portfolio Concentration
26 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
8.8%
−1.4 pts
Top 5
39.4%
−4.6 pts
Top 10
65.5%
−4.2 pts
HHI
539
Diversified−77
Portfolio Trend
2 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 100.0% | $436,527,513 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
5 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| IKT | Inhibikase Therapeutics, Inc. | +1,879,221 | 8,057,345 | $13,536,339 | |
| MIRM | Mirum Pharmaceuticals, Inc. | +301,450 | 333,312 | $30,791,362 | |
| IMVT | Immunovant, Inc. | +173,889 | 414,054 | $10,285,101 | |
| RCUS | Arcus Biosciences, Inc. | +131,622 | 1,047,935 | $22,635,396 | |
| XENE | Xenon Pharmaceuticals Inc. | +42,908 | 640,000 | $37,216,000 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
5 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| VTVT | vTv Therapeutics Inc. | −91,422 | 139,578 | $5,535,663 | |
| LBRX | Lb Pharmaceuticals Inc | −76,246 | 1,319,362 | $32,535,466 | |
| PCVX | Vaxcyte, Inc. | −75,000 | 662,470 | $38,496,131 | |
| CAMP | Camp4 Therapeutics Corp | −44,423 | 1,939,563 | $8,553,472 | |
| NGNE | Neurogene Inc. | −2,213 | 782,787 | $15,780,985 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
12 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| DFTX | Definium Therapeutics, Inc. | 1,738,110 | $32,850,279 | |
| RVMD | Revolution Medicines, Inc. | 245,000 | $23,826,250 | |
| CYTK | Cytokinetics Inc | 300,000 | $19,773,000 | |
| SNDX | Syndax Pharmaceuticals Inc | 701,821 | $16,394,538 | |
| FDMT | 4D Molecular Therapeutics, Inc. | 1,302,917 | $12,130,157 | |
| DSGN | Design Therapeutics, Inc. | 852,013 | $9,065,418 | |
| NERV | Minerva Neurosciences, Inc. | 1,419,000 | $8,549,475 | |
| PMN | ProMIS Neurosciences Inc. | 557,103 | $7,075,208 | |
| SLGL | Sol-Gel Technologies Ltd. | 85,496 | $6,772,993 | |
| IPSC | Century Therapeutics, Inc. | 2,449,993 | $5,536,984 | |
| FTH | Faeth Therapeutics, Inc. | 125,000 | $3,940,000 | |
| IRD | Opus Genetics, Inc. | 500,000 | $2,275,000 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
8 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| ACAD | Acadia Pharmaceuticals Inc | 1,419,406 | $37,912,334 | |
| TYRA | Tyra Biosciences, Inc. | 700,000 | $18,403,000 | |
| FOLD | AMICUS THERAPEUTICS, INC. | 1,043,313 | $14,856,777 | |
| APGE | Apogee Therapeutics, Inc. | 192,000 | $14,492,160 | |
| TERN | Terns Pharmaceuticals, Inc. | 300,000 | $12,120,000 | |
| MBX | MBX Biosciences, Inc. | 315,158 | $9,940,083 | |
| CMPX | Compass Therapeutics, Inc. | 1,415,273 | $7,600,016 | |
| ELVN | Enliven Therapeutics, Inc. | 199,306 | $3,069,312 | |
| No positions match the current search. | ||||
26 positions ·
$436,527,513 total
· as of Mar 31, 2026
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| PCVX |
Vaxcyte, Inc.
Healthcare
|
Reduced | 662,470 | $38,496,131 | 8.82% | |
| XENE |
Xenon Pharmaceuticals Inc.
PUT
+ SHARES
Healthcare
|
Added | 640,000 | $37,216,000 | 8.53% | |
| DFTX |
Definium Therapeutics, Inc.
Healthcare
|
NEW | 1,738,110 | $32,850,279 | 7.53% | |
| LBRX |
Lb Pharmaceuticals Inc
Healthcare
|
Reduced | 1,319,362 | $32,535,466 | 7.45% | |
| MIRM |
Mirum Pharmaceuticals, Inc.
Healthcare
|
Added | 333,312 | $30,791,362 | 7.05% | |
| NRIX |
Nurix Therapeutics, Inc.
Healthcare
|
Held | 1,743,220 | $27,019,910 | 6.19% | |
| RVMD |
Revolution Medicines, Inc.
Healthcare
|
NEW | 245,000 | $23,826,250 | 5.46% | |
| RCUS |
Arcus Biosciences, Inc.
Healthcare
|
Added | 1,047,935 | $22,635,396 | 5.19% | |
| IMCR |
Immunocore Holdings plc
Healthcare
|
Held | 682,597 | $20,580,299 | 4.71% | |
| CYTK |
Cytokinetics Inc
Healthcare
|
NEW | 300,000 | $19,773,000 | 4.53% | |
| SNDX |
Syndax Pharmaceuticals Inc
Healthcare
|
NEW | 701,821 | $16,394,538 | 3.76% | |
| NGNE |
Neurogene Inc.
Healthcare
|
Reduced | 782,787 | $15,780,985 | 3.62% | |
| IVA |
Inventiva S.A.
Healthcare
|
Held | 2,657,997 | $14,751,883 | 3.38% | |
| IKT |
Inhibikase Therapeutics, Inc.
Healthcare
|
Added | 8,057,345 | $13,536,339 | 3.10% | |
| FDMT |
4D Molecular Therapeutics, Inc.
Healthcare
|
NEW | 1,302,917 | $12,130,157 | 2.78% | |
| XFOR |
X4 Pharmaceuticals, Inc
Healthcare
|
Reduced | 2,571,478 | $10,620,204 | 2.43% | |
| IMVT |
Immunovant, Inc.
Healthcare
|
Added | 414,054 | $10,285,101 | 2.36% | |
| DSGN |
Design Therapeutics, Inc.
Healthcare
|
NEW | 852,013 | $9,065,418 | 2.08% | |
| CAMP |
Camp4 Therapeutics Corp
Healthcare
|
Reduced | 1,939,563 | $8,553,472 | 1.96% | |
| NERV |
Minerva Neurosciences, Inc.
Healthcare
|
NEW | 1,419,000 | $8,549,475 | 1.96% | |
| PMN |
ProMIS Neurosciences Inc.
Healthcare
|
NEW | 557,103 | $7,075,208 | 1.62% | |
| SLGL |
Sol-Gel Technologies Ltd.
Healthcare
|
NEW | 85,496 | $6,772,993 | 1.55% | |
| IPSC |
Century Therapeutics, Inc.
Healthcare
|
NEW | 2,449,993 | $5,536,984 | 1.27% | |
| VTVT |
vTv Therapeutics Inc.
Healthcare
|
Reduced | 139,578 | $5,535,663 | 1.27% | |
| FTH |
Faeth Therapeutics, Inc.
Healthcare
|
NEW | 125,000 | $3,940,000 | 0.90% | |
| IRD |
Opus Genetics, Inc.
Healthcare
|
NEW | 500,000 | $2,275,000 | 0.52% |