Trails Edge Capital Partners, LP
CIK 0002077247
Annualised vol
9.787476%
Beta
0.190214
HHI
391.30145
Top-10 weight
50.31835%
VaR 95%
0.86105%
VaR 99%
1.895045%
Max drawdown
26.667713%
Matched value
87.420256%
Returns of reported holdings
Loading returns…
Position changes vs prior quarter
What the latest 13F shows bought and sold against the quarter before, by share count.
| Ticker | Change | Shares now | Shares before | Share change % | Value now ($) |
|---|---|---|---|---|---|
| LBRX | ADDED | 1,523,022 | 1,319,362 | 15.44% | 49,429,679 |
| NRIX | REDUCED | 1,573,220 | 1,743,220 | -9.75% | 38,166,318 |
| TRAX | NEW | 1,514,000 | - | - | 30,461,680 |
| BMRN | NEW | 512,000 | - | - | 29,296,640 |
| DSGN | ADDED | 2,001,282 | 852,013 | 134.89% | 28,958,550 |
| XENE | REDUCED | 440,000 | 640,000 | -31.25% | 26,558,400 |
| MIRM | REDUCED | 223,312 | 333,312 | -33.0% | 26,143,136 |
| INSM | NEW | 230,331 | - | - | 24,557,891 |
| CYTK | REDUCED | 288,089 | 300,000 | -3.97% | 24,542,302 |
| SNDX | ADDED | 1,110,000 | 701,821 | 58.16% | 24,264,600 |
| NGNE | REDUCED | 714,885 | 782,787 | -8.67% | 22,483,133 |
| KLRA | NEW | 984,786 | - | - | 21,694,836 |
| RVMD | REDUCED | 115,750 | 245,000 | -52.76% | 21,677,660 |
| IKT | ADDED | 9,051,318 | 8,057,345 | 12.34% | 18,374,176 |
| INCY | NEW | 155,000 | - | - | 17,570,800 |
| AVTX | NEW | 891,881 | - | - | 16,481,961 |
| MLTX | NEW | 750,000 | - | - | 14,602,500 |
| FTH | NEW | 515,335 | - | - | 12,883,375 |
| XFOR | UNCHANGED | 2,571,478 | 2,571,478 | 0.0% | 12,008,803 |
| IRD | ADDED | 2,743,658 | 500,000 | 448.73% | 11,276,434 |
| SLGL | ADDED | 139,445 | 85,496 | 63.1% | 10,338,452 |
| AURA | NEW | 1,443,333 | - | - | 10,247,665 |
| IPSC | ADDED | 4,134,969 | 2,449,993 | 68.77% | 10,130,674 |
| CAMP | REDUCED | 1,932,937 | 1,939,563 | -0.34% | 8,446,935 |
| ALT | NEW | 2,660,000 | - | - | 8,086,400 |
| NERV | UNCHANGED | 1,419,000 | 1,419,000 | 0.0% | 7,875,450 |
| PMN | UNCHANGED | 557,103 | 557,103 | 0.0% | 7,331,475 |
| OKUR | NEW | 1,438,456 | - | - | 6,559,359 |
| RACC | NEW | 500,000 | - | - | 5,350,000 |
| VTVT | REDUCED | 85,192 | 139,578 | -38.96% | 3,207,479 |
| IMA | NEW | 282,004 | - | - | 1,663,824 |
| DFTX | CLOSED OUT | 0 | 1,738,110 | -100.0% | 0 |
| RCUS | CLOSED OUT | 0 | 1,047,935 | -100.0% | 0 |
| PCVX | CLOSED OUT | 0 | 662,470 | -100.0% | 0 |
| IMVT | CLOSED OUT | 0 | 414,054 | -100.0% | 0 |
Holdings (latest quarter)
| Ticker | Change | Issuer | Class | CUSIP | Value ($) | Weight % | Shares |
|---|---|---|---|---|---|---|---|
| LBRX | ADDED | LB PHARMACEUTICALS INC | COM SHS | 50180M108 | 49,429,679 | 7.85 | 1523022.0 |
| NRIX | REDUCED | NURIX THERAPEUTICS INC | COM | 67080M103 | 38,166,318 | 6.06 | 1573220.0 |
| - | IMMUNOCORE HLDGS PLC | ADS | 45258D105 | 33,757,680 | 5.36 | 1063234.0 | |
| TRAX | NEW | FIRST TRACKS BIOTHERAPEUTICS | ORD SHS | 337185102 | 30,461,680 | 4.84 | 1514000.0 |
| - | 4D MOLECULAR THERAPEUTICS IN | COM | 35104E100 | 29,631,296 | 4.7 | 2227917.0 | |
| BMRN | NEW | BIOMARIN PHARMACEUTICAL INC | COM | 09061G101 | 29,296,640 | 4.65 | 512000.0 |
| DSGN | ADDED | DESIGN THERAPEUTICS INC | COM | 25056L103 | 28,958,550 | 4.6 | 2001282.0 |
| XENE | REDUCED | XENON PHARMACEUTICALS INC | COM | 98420N105 | 26,558,400 | 4.22 | 440000.0 |
| MIRM | REDUCED | MIRUM PHARMACEUTICALS INC | COM | 604749101 | 26,143,136 | 4.15 | 223312.0 |
| INSM | NEW | INSMED INC | COM PAR $.01 | 457669307 | 24,557,891 | 3.9 | 230331.0 |
| CYTK | REDUCED | CYTOKINETICS INC | COM NEW | 23282W605 | 24,542,302 | 3.9 | 288089.0 |
| SNDX | ADDED | SYNDAX PHARMACEUTICALS INC | COM | 87164F105 | 24,264,600 | 3.85 | 1110000.0 |
| NGNE | REDUCED | NEUROGENE INC | COM | 64135M105 | 22,483,133 | 3.57 | 714885.0 |
| KLRA | NEW | KAILERA THERAPEUTICS INC | COMMON STOCK | 482931102 | 21,694,836 | 3.44 | 984786.0 |
| RVMD | REDUCED | REVOLUTION MEDICINES INC | COM | 76155X100 | 21,677,660 | 3.44 | 115750.0 |
| IKT | ADDED | INHIBIKASE THERAPEUTICS INC | COM NEW | 45719W205 | 18,374,176 | 2.92 | 9051318.0 |
| INCY | NEW | INCYTE CORP | COM | 45337C102 | 17,570,800 | 2.79 | 155000.0 |
| AVTX | NEW | AVALO THERAPEUTICS INC | COM NEW | 05338F306 | 16,481,961 | 2.62 | 891881.0 |
| MLTX | NEW | MOONLAKE IMMUNOTHERAPEUTICS | CLASS A ORD | 61559X104 | 14,602,500 | 2.32 | 750000.0 |
| FTH | NEW | FAETH THERAPEUTICS INC | COM NEW | 81728A207 | 12,883,375 | 2.05 | 515335.0 |
| XFOR | UNCHANGED | X4 PHARMACEUTICALS INC | COM NEW | 98420X202 | 12,008,803 | 1.91 | 2571478.0 |
| IRD | ADDED | OPUS GENETICS INC | COM | 67577R102 | 11,276,434 | 1.79 | 2743658.0 |
| SLGL | ADDED | SOL-GEL TECHNOLOGIES LTD | SHS NEW | M8694L137 | 10,338,452 | 1.64 | 139445.0 |
| AURA | NEW | AURA BIOSCIENCES INC | COM | 05153U107 | 10,247,665 | 1.63 | 1443333.0 |
| IPSC | ADDED | CENTURY THERAPEUTICS INC | COM | 15673T100 | 10,130,674 | 1.61 | 4134969.0 |
| - | INVENTIVA SA | ADS | 46124U107 | 10,047,228 | 1.6 | 2657997.0 | |
| CAMP | REDUCED | CAMP4 THERAPEUTICS CORP | COM | 13463J101 | 8,446,935 | 1.34 | 1932937.0 |
| ALT | NEW | ALTIMMUNE INC | COM NEW | 02155H200 | 8,086,400 | 1.28 | 2660000.0 |
| NERV | UNCHANGED | MINERVA NEUROSCIENCES INC | COM NEW | 603380205 | 7,875,450 | 1.25 | 1419000.0 |
| PMN | UNCHANGED | PROMIS NEUROSCIENCES INC | COM SHS | 74346M505 | 7,331,475 | 1.16 | 557103.0 |
| OKUR | NEW | ONKURE THERAPEUTICS INC | COM CL A | 68277Q105 | 6,559,359 | 1.04 | 1438456.0 |
| - | FORTE BIOSCIENCES INC | COM NEW | 34962G208 | 5,805,097 | 0.92 | 273181.0 | |
| RACC | NEW | RESEARCH ALLIANCE CORP III | ORD SHS CL A | G75226103 | 5,350,000 | 0.85 | 500000.0 |
| VTVT | REDUCED | VTV THERAPEUTICS INC | CL A NEW | 918385204 | 3,207,479 | 0.51 | 85192.0 |
| IMA | NEW | IMAGENEBIO INC | COM | 45175G207 | 1,663,824 | 0.26 | 282004.0 |
Quarterly portfolios
| Period | Filed | Value ($) | Positions | Vol % | Beta | Max DD % |
|---|---|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | 629,911,888 | 35 | 9.787476 | 0.190214 | 26.667713 |
| 2026-03-31 | 2026-05-15 | 436,527,522 | 27 | 11.776459 | 0.139169 | 36.272758 |
| 2025-12-31 | 2026-02-17 | 404,736,054 | 23 | 9.899083 | 0.091136 | 33.304785 |