Q1 2026 · 13F-HR
Trails Edge Capital Partners, LPholdings as filed
Filed 2026-05-15 · accession 0002077247-26-000003
$436.5M
Reported value
27
Positions
2026-03-31
Period end
The Brief · Trails Edge Capital Partners, LP · Q1 2026
AI · grounded in 13F
Trails Edge Capital Partners, LP closed its position in ACAD for a reduction of $37.9M. The fund also exited BRD1EUR for $34.4M and TYRA for $18.4M. On the buy side, the fund established new positions in DFTX for $32.9M and RVMD for $23.8M. Additionally, it increased its stake in MIRM by 946.1%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 92243G108 | PCVX | VAXCYTE INC | $38.5M | 8.82% | 662,470 | Common | SOLE |
| 24477V105 | DFTX | DEFINIUM THERAPEUTICS INC | $32.9M | 7.53% | 1,738,110 | Common | SOLE |
| 50180M108 | LBRX | LB PHARMACEUTICALS INC | $32.5M | 7.45% | 1,319,362 | Common | SOLE |
| 604749101 | MIRM | MIRUM PHARMACEUTICALS INC | $30.8M | 7.05% | 333,312 | Common | SOLE |
| 67080M103 | NRIX | NURIX THERAPEUTICS INC | $27.0M | 6.19% | 1,743,220 | Common | SOLE |
| 98420N105 | XENE | XENON PHARMACEUTICALS INC | $25.6M | 5.86% | 440,000 | Common | SOLE |
| 76155X100 | RVMD | REVOLUTION MEDICINES INC | $23.8M | 5.46% | 245,000 | Common | SOLE |
| 03969F109 | RCUS | ARCUS BIOSCIENCES INC | $22.6M | 5.19% | 1,047,935 | Common | SOLE |
| 45258D105 | IMCR | IMMUNOCORE HLDGS PLC | $20.6M | 4.71% | 682,597 | Common | SOLE |
| 23282W605 | CYTK | CYTOKINETICS INC | $19.8M | 4.53% | 300,000 | Common | SOLE |
| 87164F105 | SNDX | SYNDAX PHARMACEUTICALS INC | $16.4M | 3.76% | 701,821 | Common | SOLE |
| 64135M105 | NGNE | NEUROGENE INC | $15.8M | 3.62% | 782,787 | Common | SOLE |
| 46124U107 | IVA | INVENTIVA SA | $14.8M | 3.38% | 2,657,997 | Common | SOLE |
| 45719W205 | IKT | INHIBIKASE THERAPEUTICS INC | $13.5M | 3.10% | 8,057,345 | Common | SOLE |
| 35104E100 | FDMT | 4D MOLECULAR THERAPEUTICS IN | $12.1M | 2.78% | 1,302,917 | Common | SOLE |
| 98420N105 | XENE | XENON PHARMACEUTICALS INC | $11.6M | 2.66% | 200,000 | PUT | SOLE |
| 98420X202 | XFOR | X4 PHARMACEUTICALS INC | $10.6M | 2.43% | 2,571,478 | Common | SOLE |
| 45258J102 | IMVT | IMMUNOVANT INC | $10.3M | 2.36% | 414,054 | Common | SOLE |
| 25056L103 | DSGN | DESIGN THERAPEUTICS INC | $9.1M | 2.08% | 852,013 | Common | SOLE |
| 13463J101 | CAMP | CAMP4 THERAPEUTICS CORP | $8.6M | 1.96% | 1,939,563 | Common | SOLE |
| 603380205 | NERV | MINERVA NEUROSCIENCES INC | $8.5M | 1.96% | 1,419,000 | Common | SOLE |
| 74346M505 | PMN | PROMIS NEUROSCIENCES INC | $7.1M | 1.62% | 557,103 | Common | SOLE |
| M8694L137 | SLGL | SOL-GEL TECHNOLOGIES LTD | $6.8M | 1.55% | 85,496 | Common | SOLE |
| 15673T100 | IPSC | CENTURY THERAPEUTICS INC | $5.5M | 1.27% | 2,449,993 | Common | SOLE |
| 918385204 | VTVT | VTV THERAPEUTICS INC | $5.5M | 1.27% | 139,578 | Common | SOLE |
| 81728A207 | SNSE | SENSEI BIOTHERAPEUTICS INC | $3.9M | 0.90% | 125,000 | Common | SOLE |
| 67577R102 | IRD | OPUS GENETICS INC | $2.3M | 0.52% | 500,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.