Trails Edge Capital Partners, LP

ATLANTA, GA · CIK 2077247 · 13F filing filed 2026-08-14

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$629.9m reported value +48.3% vs Q1 2026

35positions

50.3%in top 10

13 new 10 added 7 reduced 4 sold out vs Q1 2026

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	LB PHARMACEUTICALS INC COM SHS LBRX	LBRX	1,523,022	$49.4m7.85%	7.85%	Added +203.7k	+203,660 15.4%
2	NURIX THERAPEUTICS INC COM NRIX	NRIX	1,573,220	$38.2m6.06%	6.06%	Reduced -170.0k	-170,000 -9.8%
3	IMMUNOCORE HLDGS PLC ADS IMCR	IMCR	1,063,234	$33.8m5.36%	5.36%	Added +380.6k	+380,637 55.8%
4	FIRST TRACKS BIOTHERAPEUTICS ORD SHS TRAX	TRAX	1,514,000	$30.5m4.84%	4.84%	New
5	4D MOLECULAR THERAPEUTICS IN COM FDMT	FDMT	2,227,917	$29.6m4.70%	4.70%	Added +925.0k	+925,000 71.0%
6	BIOMARIN PHARMACEUTICAL INC COM BMRN	BMRN	512,000	$29.3m4.65%	4.65%	New
7	DESIGN THERAPEUTICS INC COM DSGN	DSGN	2,001,282	$29.0m4.60%	4.60%	Added +1.1m	+1,149,269 134.9%
8	XENON PHARMACEUTICALS INC COM XENE	XENE	440,000	$26.6m4.22%	4.22%	Unchanged
9	MIRUM PHARMACEUTICALS INC COM MIRM	MIRM	223,312	$26.1m4.15%	4.15%	Reduced -110.0k	-110,000 -33.0%
10	INSMED INC COM PAR $.01 INSM	INSM	230,331	$24.6m3.90%	3.90%	New
11	CYTOKINETICS INC COM NEW CYTK	CYTK	288,089	$24.5m3.90%	3.90%	Reduced -11.9k	-11,911 -4.0%
12	SYNDAX PHARMACEUTICALS INC COM SNDX	SNDX	1,110,000	$24.3m3.85%	3.85%	Added +408.2k	+408,179 58.2%
13	NEUROGENE INC COM NGNE	NGNE	714,885	$22.5m3.57%	3.57%	Reduced -67.9k	-67,902 -8.7%
14	KAILERA THERAPEUTICS INC COMMON STOCK KLRA	KLRA	984,786	$21.7m3.44%	3.44%	New
15	REVOLUTION MEDICINES INC COM RVMD	RVMD	115,750	$21.7m3.44%	3.44%	Reduced -129.2k	-129,250 -52.8%
16	INHIBIKASE THERAPEUTICS INC COM NEW IKT	IKT	9,051,318	$18.4m2.92%	2.92%	Added +994.0k	+993,973 12.3%
17	INCYTE CORP COM INCY	INCY	155,000	$17.6m2.79%	2.79%	New
18	AVALO THERAPEUTICS INC COM NEW AVTX	AVTX	891,881	$16.5m2.62%	2.62%	New
19	MOONLAKE IMMUNOTHERAPEUTICS CLASS A ORD MLTX	MLTX	750,000	$14.6m2.32%	2.32%	New
20	FAETH THERAPEUTICS INC COM NEW FTH	FTH	515,335	$12.9m2.05%	2.05%	Added +390.3k	+390,335 312.3%
21	X4 PHARMACEUTICALS INC COM NEW XFOR	XFOR	2,571,478	$12.0m1.91%	1.91%	Unchanged
22	OPUS GENETICS INC COM IRD	IRD	2,743,658	$11.3m1.79%	1.79%	Added +2.2m	+2,243,658 448.7%
23	SOL-GEL TECHNOLOGIES LTD SHS NEW SLGL	SLGL	139,445	$10.3m1.64%	1.64%	Added +53.9k	+53,949 63.1%
24	AURA BIOSCIENCES INC COM AURA	AURA	1,443,333	$10.2m1.63%	1.63%	New
25	CENTURY THERAPEUTICS INC COM IPSC	IPSC	4,134,969	$10.1m1.61%	1.61%	Added +1.7m	+1,684,976 68.8%
26	INVENTIVA SA ADS IVA	IVA	2,657,997	$10.0m1.60%	1.60%	Unchanged
27	CAMP4 THERAPEUTICS CORP COM CAMP	CAMP	1,932,937	$8.4m1.34%	1.34%	Reduced -6.6k	-6,626 -0.3%
28	ALTIMMUNE INC COM NEW ALT	ALT	2,660,000	$8.1m1.28%	1.28%	New
29	MINERVA NEUROSCIENCES INC COM NEW NERV	NERV	1,419,000	$7.9m1.25%	1.25%	Unchanged
30	PROMIS NEUROSCIENCES INC COM SHS PMN	PMN	557,103	$7.3m1.16%	1.16%	Unchanged
31	ONKURE THERAPEUTICS INC COM CL A OKUR	OKUR	1,438,456	$6.6m1.04%	1.04%	New
32	FORTE BIOSCIENCES INC COM NEW FBRX	FBRX	273,181	$5.8m0.92%	0.92%	New
33	RESEARCH ALLIANCE CORP III ORD SHS CL A RACC	RACC	500,000	$5.3m0.85%	0.85%	New
34	VTV THERAPEUTICS INC CL A NEW VTVT	VTVT	85,192	$3.2m0.51%	0.51%	Reduced -54.4k	-54,386 -39.0%
35	IMAGENEBIO INC COM IMA	IMA	282,004	$1.7m0.26%	0.26%	New

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
VAXCYTE INC PCVX	PCVX	662,470	$38.5m662.5k shares
DEFINIUM THERAPEUTICS INC DFTX	DFTX	1,738,110	$32.9m1.7m shares
ARCUS BIOSCIENCES INC RCUS	RCUS	1,047,935	$22.6m1.0m shares
IMMUNOVANT INC IMVT	IMVT	414,054	$10.3m414.1k shares

Stakes above 5%

Companies where this manager has reported owning more than 5% of a class of shares, on Schedule 13D (may seek influence) or 13G (passive): its latest filing for each, from 19 Dec 2024 on.

Company	Ticker	Stake	Change	Schedule	Last filed
IMAGENEBIO INC IMA · 13G · filed 2026-04-21	IMA	9.9%≈ $6.9m	new	13G	2026-04-21
PROMIS NEUROSCIENCES INC PMN · 13G · filed 2026-02-10	PMN	9.9%≈ $12.3m	new	13G	2026-02-10
VTV THERAPEUTICS INC VTVT · 13G · filed 2025-09-08	VTVT	9.9%≈ $12.8m	new	13G	2025-09-08
IMMUNIC INC 13G · filed 2026-02-24		8.7%	new	13G	2026-02-24
INHIBIKASE THERAPEUTICS INC IKT · 13G · filed 2026-05-15	IKT	6.1%≈ $16.4m	+1.0 pts	13G	2026-05-15
CAMP4 THERAPEUTICS CORP CAMP · 13G · filed 2026-08-10	CAMP	6.0%≈ $16.6m	new	13G	2026-08-10
ONKURE THERAPEUTICS INC OKUR · 13G · filed 2026-04-07	OKUR	6.0%≈ $11.0m	new	13G	2026-04-07
X4 PHARMACEUTICALS INC XFOR · 13G · filed 2026-02-17	XFOR	5.8%≈ $24.4m	-4.1 pts	13G	2026-02-17
RESEARCH ALLIANCE CORP III RACC · 13G · filed 2026-05-29	RACC	5.5%≈ $5.3m	new	13G	2026-05-29
SOL-GEL TECHNOLOGIES LTD SLGL · 13G · filed 2026-10-27	SLGL	5.1%≈ $12.3m	new	13G	2026-10-27
CONTINEUM THERAPEUTICS INC CTNM · 13G · filed 2026-10-22	CTNM	5.1%≈ $21.2m	new	13G	2026-10-22
LB PHARMACEUTICALS INC LBRX · 13G · filed 2025-12-31	LBRX	5.0%≈ $41.2m	new	13G	2025-12-31