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TECP

Trails Edge Capital Partners Portfolio holdings

AUM $630M
This Fund
S&P 500
This Quarter Est. Return
+16.76%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$630M
AUM Growth
+$193M
Cap. Flow
+$123M
Cap. Flow %
19.54%
Top 10 Hldgs %
50.32%
Holding
40
New
13
Increased
10
Reduced
7
Closed
5
Avg Time Held Equity + Options
0.9 quarters
Top 10 Avg Time Held Equity + Options
0.9 quarters
Top 20 Avg Time Held Equity + Options
0.9 quarters
Avg Time Held Equity only
0.9 quarters
Top 10 Avg Time Held Equity only
0.9 quarters
Top 20 Avg Time Held Equity only
0.9 quarters

Top Buys

Rank Stock Value
1
TRAX
First Tracks Biotherapeutics
TRAX
+$28.3M
2
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$28M
3
INSM icon
Insmed
INSM
+$27.9M
4
KLRA
Kailera Therapeutics
KLRA
+$21.6M
5
INCY icon
Incyte
INCY
+$15.4M

Top Sells

Rank Stock Value
1
PCVX icon
Vaxcyte
PCVX
+$38.5M
2
DFTX
Definium Therapeutics
DFTX
+$32.9M
3
RCUS icon
Arcus Biosciences
RCUS
+$22.6M
4
RVMD icon
Revolution Medicines
RVMD
+$18.9M
5
MIRM icon
Mirum Pharmaceuticals
MIRM
+$11M

Sector Composition

Rank Sector Weight
1 Healthcare 99.15%
2 Financials 0.85%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
LBRX
1
LB Pharmaceuticals
LBRX
$1.2B
$49.4M 7.85%
1,523,022
+203,660
+15% +$5.98M
2025 Q4
2 quarters
NRIX icon
2
Nurix Therapeutics
NRIX
$2.32B
$38.2M 6.06%
1,573,220
-170,000
-10% -$2.9M
2025 Q4
2 quarters
IMCR icon
3
Immunocore
IMCR
$1.51B
$33.8M 5.36%
1,063,234
+380,637
+56% +$11.3M
2025 Q4
2 quarters
TRAX
4
First Tracks Biotherapeutics
TRAX
$1.14B
$30.5M 4.84%
+1,514,000
New +$28.3M
2026 Q2
0 quarters
FDMT icon
5
4D Molecular Therapeutics
FDMT
$736M
$29.6M 4.7%
2,227,917
+925,000
+71% +$9.01M
2026 Q1
1 quarter
BMRN icon
6
BioMarin Pharmaceuticals
BMRN
$10.6B
$29.3M 4.65%
+512,000
New +$28M
2026 Q2
0 quarters
DSGN icon
7
Design Therapeutics
DSGN
$729M
$29M 4.6%
2,001,282
+1,149,269
+135% +$14.3M
2026 Q1
1 quarter
XENE icon
8
Xenon Pharmaceuticals
XENE
$3.53B
$26.6M 4.22%
440,000
– –
2025 Q4
2 quarters
MIRM icon
9
Mirum Pharmaceuticals
MIRM
$5.58B
$26.1M 4.15%
223,312
-110,000
-33% -$11M
2025 Q4
2 quarters
INSM icon
10
Insmed
INSM
$22B
$24.6M 3.9%
+230,331
New +$27.9M
2026 Q2
0 quarters
CYTK icon
11
Cytokinetics
CYTK
$8.75B
$24.5M 3.9%
288,089
-11,911
-4% -$855K
2026 Q1
1 quarter
SNDX icon
12
Syndax Pharmaceuticals
SNDX
$1.52B
$24.3M 3.85%
1,110,000
+408,179
+58% +$8.49M
2026 Q1
1 quarter
NGNE icon
13
Neurogene
NGNE
$528M
$22.5M 3.57%
714,885
-67,902
-9% -$1.87M
2025 Q4
2 quarters
KLRA
14
Kailera Therapeutics
KLRA
$1.51B
$21.7M 3.44%
+984,786
New +$21.6M
2026 Q2
0 quarters
RVMD icon
15
Revolution Medicines
RVMD
$40.7B
$21.7M 3.44%
115,750
-129,250
-53% -$18.9M
2026 Q1
1 quarter
IKT icon
16
Inhibikase Therapeutics
IKT
$275M
$18.4M 2.92%
9,051,318
+993,973
+12% +$1.78M
2025 Q4
2 quarters
INCY icon
17
Incyte
INCY
$22.9B
$17.6M 2.79%
+155,000
New +$15.4M
2026 Q2
0 quarters
AVTX icon
18
Avalo Therapeutics
AVTX
$732M
$16.5M 2.62%
+891,881
New +$14.1M
2026 Q2
0 quarters
MLTX icon
19
MoonLake Immunotherapeutics
MLTX
$921M
$14.6M 2.32%
+750,000
New +$13.6M
2026 Q2
0 quarters
FTH
20
Faeth Therapeutics
FTH
$673M
$12.9M 2.05%
515,335
+390,335
+312% +$9.03M
2026 Q1
1 quarter
XFOR icon
21
X4 Pharmaceuticals
XFOR
$289M
$12M 1.91%
2,571,478
– –
2025 Q4
2 quarters
IRD
22
Opus Genetics
IRD
$387M
$11.3M 1.79%
2,743,658
+2,243,658
+449% +$10.5M
2026 Q1
1 quarter
SLGL icon
23
Sol-Gel Technologies
SLGL
$235M
$10.3M 1.64%
139,445
+53,949
+63% +$3.96M
2026 Q1
1 quarter
AURA icon
24
Aura Biosciences
AURA
$678M
$10.2M 1.63%
+1,443,333
New +$10.3M
2026 Q2
0 quarters
IPSC icon
25
Century Therapeutics
IPSC
$266M
$10.1M 1.61%
4,134,969
+1,684,976
+69% +$3.85M
2026 Q1
1 quarter
1
2

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Trails Edge Capital Partners's Q2 2026 Portfolio in Review

As of Q2 2026, Trails Edge Capital Partners held 40 positions worth $630M, up 44% from $437M the previous quarter. Its ten largest holdings account for 50% of the portfolio.

Trails Edge Capital Partners deployed $123M of net new capital in Q2 2026, opening 13 new positions and adding to 10 existing holdings. Its largest new stake was First Tracks Biotherapeutics: 1,514,000 shares worth $30.5M.

By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 97% a quarter earlier, followed by Financials.

On the sell side, the largest reduction was Revolution Medicines, an estimated $18.9M trimmed.

  • Trails Edge Capital Partners's largest Q2 2026 buy was First Tracks Biotherapeutics: 1,514,000 shares worth $30.5M.
  • Trails Edge Capital Partners added most to Design Therapeutics in Q2 2026, an estimated $14.3M increase.
  • Trails Edge Capital Partners's biggest Q2 2026 reduction was Revolution Medicines, cutting an estimated $18.9M.
  • Trails Edge Capital Partners fully exited Vaxcyte in Q2 2026, selling an estimated $38.5M.
  • Trails Edge Capital Partners's ten largest holdings make up 50% of its $630M portfolio in Q2 2026.
  • Trails Edge Capital Partners opened 13 new positions and closed 5 in Q2 2026.
  • Trails Edge Capital Partners's portfolio value rose 44% quarter-over-quarter to $630M.

Based on Trails Edge Capital Partners's 13F filing for Q2 2026, filed 14 Aug 2026.