2026 Q2 Portfolio Activity
In 2026 Q2, Trails Edge Capital Partners, LP maintained a portfolio of 40 distinct positions. The most significant new addition was FIRST TRACKS BIOTHERAPEUTICS, now representing 4.84% of the total fund value. They heavily accumulated shares in DESIGN THERAPEUTICS INC, increasing the position by 134.9%. Conversely, Trails Edge Capital Partners, LP completely exited their position in VAXCYTE INC.
Position History
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Total Positions
40
Quarter
2026 Q2
Top Holding
LBRX (7.8%)
Top 10 Concentration
50.3%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-40 of 40
Trails Edge Capital Partners, LP Full Holdings List — 2026 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
LBRX
LB PHARMACEUTIC...
|
Healthcare | 7.85% | 7.45% |
#1
2
Prev: #3
|
7.1 |
—
|
203,660 | 15.4% |
P
S
|
1,523,022 | $49,429,679 |
$23.56
+104.6%
|
2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
NRIX
NURIX THERAPEUT...
|
Healthcare | 6.06% | 6.19% |
#2
3
Prev: #5
|
4.4 |
—
|
-170,000 | -9.8% |
P
S
|
1,573,220 | $38,166,318 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IMCR
IMMUNOCORE HLDG...
|
Healthcare | 5.36% | 4.71% |
#3
6
Prev: #9
|
6.1 |
—
|
380,637 | 55.8% |
P
S
|
1,063,234 | $33,757,680 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
FIRST TRACKS BI...
|
|
Unknown | 4.84% | — |
#4
Prev: #—
|
5.9 |
—
|
1,514,000 | — |
NEW
|
1,514,000 | $30,461,680 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
FDMT
4D MOLECULAR TH...
|
Healthcare | 4.70% | 2.78% |
#5
10
Prev: #15
|
5.4 |
—
|
925,000 | 71.0% |
P
S
|
2,227,917 | $29,631,296 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BMRN
BIOMARIN PHARMA...
|
Healthcare | 4.65% | — |
#6
Prev: #—
|
5.4 |
—
|
512,000 | — |
NEW
|
512,000 | $29,296,640 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
DSGN
DESIGN THERAPEU...
|
Healthcare | 4.60% | 2.08% |
#7
12
Prev: #19
|
4.8 |
—
|
1,149,269 | 134.9% |
P
S
|
2,001,282 | $28,958,550 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
XENE
XENON PHARMACEU...
|
Healthcare | 4.22% | 5.86% |
#8
2
Prev: #6
|
2.7 |
—
|
no change | no change |
P
S
|
440,000 | $26,558,400 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MIRM
MIRUM PHARMACEU...
|
Healthcare | 4.15% | 7.05% |
#9
5
Prev: #4
|
1.7 |
—
|
-110,000 | -33.0% |
P
S
|
223,312 | $26,143,136 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
INSM
INSMED INC
|
Healthcare | 3.90% | — |
#10
Prev: #—
|
5.1 |
—
|
230,331 | — |
NEW
|
230,331 | $24,557,891 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CYTK
CYTOKINETICS IN...
|
Healthcare | 3.90% | 4.53% |
#11
1
Prev: #10
|
2.1 |
—
|
-11,911 | -4.0% |
P
S
|
288,089 | $24,542,302 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SNDX
SYNDAX PHARMACE...
|
Healthcare | 3.85% | 3.76% |
#12
1
Prev: #11
|
4.5 |
—
|
408,179 | 58.2% |
P
S
|
1,110,000 | $24,264,600 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NGNE
NEUROGENE INC
|
Healthcare | 3.57% | 3.62% |
#13
1
Prev: #12
|
1.9 |
—
|
-67,902 | -8.7% |
P
S
|
714,885 | $22,483,133 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
KAILERA THERAPE...
|
|
Unknown | 3.44% | — |
#14
Prev: #—
|
4.9 |
—
|
984,786 | — |
NEW
|
984,786 | $21,694,836 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
RVMD
REVOLUTION MEDI...
|
Healthcare | 3.44% | 5.46% |
#15
8
Prev: #7
|
1.4 |
—
|
-129,250 | -52.8% |
P
S
|
115,750 | $21,677,660 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IKT
INHIBIKASE THER...
|
Healthcare | 2.92% | 3.10% |
#16
2
Prev: #14
|
3.2 |
—
|
993,973 | 12.3% |
P
S
|
9,051,318 | $18,374,176 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
INCY
INCYTE CORP
|
Healthcare | 2.79% | — |
#17
Prev: #—
|
4.6 |
—
|
155,000 | — |
NEW
|
155,000 | $17,570,800 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
AVTX
AVALO THERAPEUT...
|
Healthcare | 2.62% | — |
#18
Prev: #—
|
4.5 |
—
|
891,881 | — |
NEW
|
891,881 | $16,481,961 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MLTX
MOONLAKE IMMUNO...
|
Healthcare | 2.32% | — |
#19
Prev: #—
|
4.4 |
—
|
750,000 | — |
NEW
|
750,000 | $14,602,500 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SNSE
FAETH THERAPEUT...
|
Healthcare | 2.05% | 0.90% |
#20
6
Prev: #26
|
3.8 |
—
|
390,335 | 312.3% |
P
S
|
515,335 | $12,883,375 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
XFOR
X4 PHARMACEUTIC...
|
Healthcare | 1.91% | 2.43% |
#21
4
Prev: #17
|
1.8 |
—
|
no change | no change |
P
S
|
2,571,478 | $12,008,803 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IRD
OPUS GENETICS I...
|
Healthcare | 1.79% | 0.52% |
#22
5
Prev: #27
|
3.7 |
—
|
2,243,658 | 448.7% |
P
S
|
2,743,658 | $11,276,434 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SLGL
SOL-GEL TECHNOL...
|
Healthcare | 1.64% | 1.55% |
#23
Prev: #23
|
3.7 |
—
|
53,949 | 63.1% |
P
S
|
139,445 | $10,338,452 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
AURA
AURA BIOSCIENCE...
|
Healthcare | 1.63% | — |
#24
Prev: #—
|
4.2 |
—
|
1,443,333 | — |
NEW
|
1,443,333 | $10,247,665 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IPSC
CENTURY THERAPE...
|
Healthcare | 1.61% | 1.27% |
#25
1
Prev: #24
|
3.6 |
—
|
1,684,976 | 68.8% |
P
S
|
4,134,969 | $10,130,674 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IVA
INVENTIVA SA
|
Healthcare | 1.60% | 3.38% |
#26
13
Prev: #13
|
1.6 |
—
|
no change | no change |
P
S
|
2,657,997 | $10,047,228 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CAMP
CAMP4 THERAPEUT...
|
Healthcare | 1.34% | 1.96% |
#27
7
Prev: #20
|
1.0 |
—
|
-6,626 | -0.3% |
P
S
|
1,932,937 | $8,446,935 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ALT
ALTIMMUNE INC
|
Healthcare | 1.28% | — |
#28
Prev: #—
|
4.0 |
—
|
2,660,000 | — |
NEW
|
2,660,000 | $8,086,400 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NERV
MINERVA NEUROSC...
|
Healthcare | 1.25% | 1.96% |
#29
8
Prev: #21
|
1.5 |
—
|
no change | no change |
P
S
|
1,419,000 | $7,875,450 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PMN
PROMIS NEUROSCI...
|
Healthcare | 1.16% | 1.62% |
#30
8
Prev: #22
|
1.5 |
—
|
no change | no change |
P
S
|
557,103 | $7,331,475 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
OKUR
ONKURE THERAPEU...
|
Healthcare | 1.04% | — |
#31
Prev: #—
|
3.9 |
—
|
1,438,456 | — |
NEW
|
1,438,456 | $6,559,359 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
FBRX
FORTE BIOSCIENC...
|
Healthcare | 0.92% | — |
#32
Prev: #—
|
3.9 |
—
|
273,181 | — |
NEW
|
273,181 | $5,805,097 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
RESEARCH ALLIAN...
|
|
Unknown | 0.85% | — |
#33
Prev: #—
|
3.8 |
—
|
500,000 | — |
NEW
|
500,000 | $5,350,000 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
VTVT
VTV THERAPEUTIC...
|
Healthcare | 0.51% | 1.27% |
#34
9
Prev: #25
|
0.2 |
—
|
-54,386 | -39.0% |
P
S
|
85,192 | $3,207,479 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IMA
IMAGENEBIO INC
|
Healthcare | 0.26% | — |
#35
Prev: #—
|
3.6 |
—
|
282,004 | — |
NEW
|
282,004 | $1,663,824 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IMVT
IMMUNOVANT INC
|
Healthcare | 0.00% | 2.36% |
Sold All 😨
(Was: #18) |
0.0 |
—
|
-414,054 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
XENE
PUT
XENON PHARMACEU...
|
PUT Option | 0.00% | 2.66% |
Sold All 😨
(Was: #16) |
0.0 |
—
|
-200,000 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
RCUS
ARCUS BIOSCIENC...
|
Healthcare | 0.00% | 5.19% |
Sold All 😨
(Was: #8) |
0.0 |
—
|
-1,047,935 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
DFTX
DEFINIUM THERAP...
|
Healthcare | 0.00% | 7.53% |
Sold All 😨
(Was: #2) |
0.0 |
—
|
-1,738,110 | -100.0% |
CLOSED
|
— | $— | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PCVX
VAXCYTE INC
|
Healthcare | 0.00% | 8.82% |
Sold All 😨
(Was: #1) |
0.0 |
—
|
-662,470 | -100.0% |
CLOSED
|
— | $— | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 |
Showing 1-40 of 40 holdings