Trails Edge Capital Partners, LP
Net buyer this quarter
$630M
35
+$63.1M
50.3%
Holdings
| Company | Value | % of portfolio | % of company | POSITION CHANGE qoq % | First reported |
|---|---|---|---|---|---|
| Q2 2026 | |||||
 LBRX | $49.4M | 7.85% | 5.31% | +15.4% | Q4 2025 |
 NRIX | $38.2M | 6.06% | 1.52% | -9.8% | Q4 2025 |
 IMCR | $33.8M | 5.36% | 2.07% | +55.8% | Q4 2025 |
 TRAX | $30.5M | 4.84% | 4.28% | New | Q2 2026 |
 FDMT | $29.6M | 4.70% | 4.04% | +71.0% | Q1 2026 |
 BMRN | $29.3M | 4.65% | 0.26% | New | Q2 2026 |
 DSGN | $29M | 4.60% | 3.20% | +134.9% | Q1 2026 |
 XENE | $26.6M | 4.22% | 0.45% | Not reported | Q4 2025 |
 MIRM | $26.1M | 4.15% | 0.34% | -33.0% | Q4 2025 |
 INSM | $24.6M | 3.90% | 0.11% | New | Q2 2026 |
 CYTK | $24.5M | 3.90% | 0.23% | -4.0% | Q1 2026 |
 SNDX | $24.3M | 3.85% | 1.25% | +58.2% | Q1 2026 |
 NGNE | $22.5M | 3.57% | 4.52% | -8.7% | Q4 2025 |
 KLRA | $21.7M | 3.44% | 0.76% | New | Q2 2026 |
 RVMD | $21.7M | 3.44% | 0.05% | -52.8% | Q1 2026 |
 IKT | $18.4M | 2.92% | 6.86% | +12.3% | Q4 2025 |
 INCY | $17.6M | 2.79% | 0.08% | New | Q2 2026 |
 AVTX | $16.5M | 2.62% | 1.69% | New | Q2 2026 |
 MLTX | $14.6M | 2.32% | 1.02% | New | Q2 2026 |
 FTH | $12.9M | 2.05% | 1.99% | +312.3% | Q1 2026 |
 XFOR | $12M | 1.91% | 2.68% | Not reported | Q4 2025 |
 IRD | $11.3M | 1.79% | 3.32% | +448.7% | Q1 2026 |
 SLGL | $10.3M | 1.64% | 5.00% | +63.1% | Q1 2026 |
 AURA | $10.2M | 1.63% | 1.39% | New | Q2 2026 |
 IPSC | $10.1M | 1.61% | 2.29% | +68.8% | Q1 2026 |
 IVA | $10M | 1.60% | 1.38% | Not reported | Q4 2025 |
 CAMP | $8.45M | 1.34% | 3.72% | -0.3% | Q4 2025 |
 ALT | $8.09M | 1.28% | 1.37% | New | Q2 2026 |
 NERV | $7.88M | 1.25% | 3.00% | Not reported | Q1 2026 |
 PMN | $7.33M | 1.16% | 6.21% | Not reported | Q1 2026 |
 OKUR | $6.56M | 1.04% | 3.56% | New | Q2 2026 |
| FBRX | $5.81M | 0.92% | 1.33% | New | Q2 2026 |
 RACC | $5.35M | 0.85% | Not reported | New | Q2 2026 |
 VTVT | $3.21M | 0.51% | Not reported | -39.0% | Q4 2025 |
 IMA | $1.66M | 0.26% | 2.50% | New | Q2 2026 |
| Q1 2026 | |||||
 PCVX | $38.5M | 8.82% | 0.46% | -10.2% | Q4 2025 |
 DFTX | $32.9M | 7.53% | 1.67% | New | Q1 2026 |
| LBRX | $32.5M | 7.45% | 4.60% | -5.5% | Q4 2025 |
| MIRM | $30.8M | 7.05% | 0.55% | +946.1% | Q4 2025 |
| NRIX | $27M | 6.19% | 1.69% | Not reported | Q4 2025 |
| XENE | $25.6M | 5.86% | 0.46% | -26.3% | Q4 2025 |
| RVMD | $23.8M | 5.46% | 0.12% | New | Q1 2026 |
 RCUS | $22.6M | 5.19% | 0.84% | +14.4% | Q4 2025 |
| IMCR | $20.6M | 4.71% | 1.34% | Not reported | Q4 2025 |
| CYTK | $19.8M | 4.53% | 0.24% | New | Q1 2026 |
| SNDX | $16.4M | 3.76% | 0.79% | New | Q1 2026 |
| NGNE | $15.8M | 3.62% | 5.01% | -0.3% | Q4 2025 |
| IVA | $14.8M | 3.38% | 1.38% | Not reported | Q4 2025 |
| IKT | $13.5M | 3.10% | 6.10% | +30.4% | Q4 2025 |
| FDMT | $12.1M | 2.78% | 2.49% | New | Q1 2026 |
| XFOR | $10.6M | 2.43% | 2.73% | Not reported | Q4 2025 |
 IMVT | $10.3M | 2.36% | 0.20% | +72.4% | Q4 2025 |
| DSGN | $9.07M | 2.08% | 1.36% | New | Q1 2026 |
| CAMP | $8.55M | 1.96% | 3.74% | -2.2% | Q4 2025 |
| NERV | $8.55M | 1.96% | 3.24% | New | Q1 2026 |
| PMN | $7.08M | 1.62% | 6.21% | New | Q1 2026 |
| SLGL | $6.77M | 1.55% | 3.07% | New | Q1 2026 |
| IPSC | $5.54M | 1.27% | 1.36% | New | Q1 2026 |
| VTVT | $5.54M | 1.27% | Not reported | -39.6% | Q4 2025 |
| FTH | $3.94M | 0.90% | 9.33% | New | Q1 2026 |
| IRD | $2.28M | 0.52% | 0.70% | New | Q1 2026 |
| Q4 2025 | |||||
 ACAD | $37.9M | 9.37% | 0.83% | New | Q4 2025 |
| MNMD | $34.4M | 8.50% | Not reported | New | Q4 2025 |
| PCVX | $34M | 8.41% | 0.56% | New | Q4 2025 |
| NRIX | $33.1M | 8.17% | 1.71% | New | Q4 2025 |
| LBRX | $31.1M | 7.68% | 5.52% | New | Q4 2025 |
| XENE | $26.8M | 6.61% | 0.75% | New | Q4 2025 |
| IMCR | $23.7M | 5.85% | 1.35% | New | Q4 2025 |
| RCUS | $21.8M | 5.40% | 0.73% | New | Q4 2025 |
 TYRA | $18.4M | 4.55% | 1.30% | New | Q4 2025 |
| NGNE | $16.2M | 4.00% | 5.07% | New | Q4 2025 |
| FOLD | $14.9M | 3.67% | 0.34% | New | Q4 2025 |
| APGE | $14.5M | 3.58% | 0.28% | New | Q4 2025 |
| IKT | $12.7M | 3.13% | 4.69% | New | Q4 2025 |
| IVA | $12.4M | 3.05% | 1.38% | New | Q4 2025 |
| CAMP | $12.2M | 3.00% | 3.82% | New | Q4 2025 |
| TERN | $12.1M | 2.99% | 0.27% | New | Q4 2025 |
| XFOR | $10.3M | 2.54% | 2.83% | New | Q4 2025 |
 MBX | $9.94M | 2.46% | 0.70% | New | Q4 2025 |
| VTVT | $9.24M | 2.28% | Not reported | New | Q4 2025 |
 CMPX | $7.6M | 1.88% | 0.79% | New | Q4 2025 |
| IMVT | $6.1M | 1.51% | 0.12% | New | Q4 2025 |
 ELVN | $3.07M | 0.76% | 0.34% | New | Q4 2025 |
| MIRM | $2.52M | 0.62% | 0.06% | New | Q4 2025 |