AI Portfolio Summary
In 2025 Q4, Trails Edge Capital Partners, LP maintained a portfolio of 23 distinct positions. The most significant new addition to the portfolio was ACADIA PHARMACEUTICA, which now represents 9.37% of the total fund value.
Total Positions
23
Quarter
2025 Q4
Top Holding
ACAD (9.4%)
Top 10 Concentration
68.5%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
1-23 of 23
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
ACAD
ACADIA PHARMACE...
|
Unknown | 9.37% | — |
#1
Prev: #—
|
9.2 | 1,419,406 | no change |
NEW
|
1,419,406 | $37,912,334 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MNMD
MIND MEDICINE M...
|
Unknown | 8.50% | — |
#2
Prev: #—
|
8.4 | 2,568,110 | no change |
NEW
|
2,568,110 | $34,386,993 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PCVX
VAXCYTE INC
|
Unknown | 8.41% | — |
#3
Prev: #—
|
7.9 | 737,470 | no change |
NEW
|
737,470 | $34,026,866 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
NRIX
NURIX THERAPEUT...
|
Unknown | 8.17% | — |
#4
Prev: #—
|
7.3 | 1,743,220 | no change |
NEW
|
1,743,220 | $33,068,884 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LBRX
LB PHARMACEUTIC...
|
Unknown | 7.68% | — |
#5
Prev: #—
|
7.1 | 1,395,608 | no change |
NEW
|
1,395,608 | $31,066,234 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
XENE
XENON PHARMACEU...
|
Unknown | 6.61% | — |
#6
Prev: #—
|
6.1 | 597,092 | no change |
NEW
|
597,092 | $26,761,664 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IMCR
IMMUNOCORE HLDG...
|
Unknown | 5.85% | — |
#7
Prev: #—
|
5.8 | 682,597 | no change |
NEW
|
682,597 | $23,692,942 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
RCUS
ARCUS BIOSCIENC...
|
Unknown | 5.40% | — |
#8
Prev: #—
|
5.7 | 916,313 | no change |
NEW
|
916,313 | $21,835,738 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
TYRA
TYRA BIOSCIENCE...
|
Unknown | 4.55% | — |
#9
Prev: #—
|
5.3 | 700,000 | no change |
NEW
|
700,000 | $18,403,000 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
NGNE
NEUROGENE INC
|
Unknown | 4.00% | — |
#10
Prev: #—
|
5.1 | 785,000 | no change |
NEW
|
785,000 | $16,171,000 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
FOLD
AMICUS THERAPEU...
|
Unknown | 3.67% | — |
#11
Prev: #—
|
5.0 | 1,043,313 | no change |
NEW
|
1,043,313 | $14,856,777 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
APGE
APOGEE THERAPEU...
|
Unknown | 3.58% | — |
#12
Prev: #—
|
4.9 | 192,000 | no change |
NEW
|
192,000 | $14,492,160 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IKT
INHIBIKASE THER...
|
Unknown | 3.13% | — |
#13
Prev: #—
|
4.8 | 6,178,124 | no change |
NEW
|
6,178,124 | $12,665,154 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IVA
INVENTIVA SA
|
Unknown | 3.05% | — |
#14
Prev: #—
|
4.7 | 2,657,997 | no change |
NEW
|
2,657,997 | $12,359,686 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CAMP
CAMP4 THERAPEUT...
|
Unknown | 3.00% | — |
#15
Prev: #—
|
4.7 | 1,983,986 | no change |
NEW
|
1,983,986 | $12,161,834 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
TERN
TERNS PHARMACEU...
|
Unknown | 2.99% | — |
#16
Prev: #—
|
4.7 | 300,000 | no change |
NEW
|
300,000 | $12,120,000 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
XFOR
X4 PHARMACEUTIC...
|
Unknown | 2.54% | — |
#17
Prev: #—
|
4.5 | 2,571,478 | no change |
NEW
|
2,571,478 | $10,285,912 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MBX
MBX BIOSCIENCES...
|
Unknown | 2.46% | — |
#18
Prev: #—
|
4.5 | 315,158 | no change |
NEW
|
315,158 | $9,940,084 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
VTVT
VTV THERAPEUTIC...
|
Unknown | 2.28% | — |
#19
Prev: #—
|
4.4 | 231,000 | no change |
NEW
|
231,000 | $9,237,690 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CMPX
COMPASS THERAPE...
|
Unknown | 1.88% | — |
#20
Prev: #—
|
4.3 | 1,415,273 | no change |
NEW
|
1,415,273 | $7,600,016 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IMVT
IMMUNOVANT INC
|
Unknown | 1.51% | — |
#21
Prev: #—
|
4.1 | 240,165 | no change |
NEW
|
240,165 | $6,104,994 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ELVN
ENLIVEN THERAPE...
|
Unknown | 0.76% | — |
#22
Prev: #—
|
3.8 | 199,306 | no change |
NEW
|
199,306 | $3,069,312 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MIRM
MIRUM PHARMACEU...
|
Unknown | 0.62% | — |
#23
Prev: #—
|
3.7 | 31,862 | no change |
NEW
|
31,862 | $2,516,780 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) |
Showing 1-23 of 23 holdings