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Trails Edge Capital Partners, LP

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13F filer, CIK 2077247, ATLANTA, GA

Trails Edge Capital Partners, LP reported $436,527,522 across 27 holdings for the quarter ended 2026-03-31, in a 13F-HR filed 2026-05-15. Its ten largest share positions make up 64.51% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0002077247-26-000003

Period
2026-03-31
Reported value
$437M
Holdings
27
Top 10 weight
64.51%
New
13
Sold out
9

Largest buys vs the previous quarter

SecurityShares changeApprox. value
DFTXnew+1,738,110$32.9M
MIRMadded+301,450$27.8M
RVMDnew+245,000$23.8M
CYTKnew+300,000$19.8M
SNDXnew+701,821$16.4M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
ACADexited-1,419,406-$37.9M
MIND MEDICINE MINDMED INCexited-2,568,110-$34.4M
TYRAexited-700,000-$18.4M
FOLDexited-1,043,313-$14.9M
APGEexited-192,000-$14.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q1 2026

Share positions as resolved from 13F-HR 0002077247-26-000003, largest first. % of portfolio is the value over $424,897,522, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PCVXVAXCYTE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 737,470 shares; 2026Q1: 662,470 shares 662,470$38.5M9.06%-75,000Timeline
DFTXDEFINIUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 1,738,110 shares 1,738,110$32.9M7.73%newTimeline
LBRXLB PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 1,395,608 shares; 2026Q1: 1,319,362 shares 1,319,362$32.5M7.66%-76,246Timeline
MIRMMIRUM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 31,862 shares; 2026Q1: 333,312 shares 333,312$30.8M7.25%+301,450Timeline
NRIXNURIX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 1,743,220 shares; 2026Q1: 1,743,220 shares 1,743,220$27M6.36%0Timeline
XENEXENON PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 597,092 shares; 2026Q1: 440,000 shares 440,000$25.6M6.02%-157,092Timeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 245,000 shares 245,000$23.8M5.61%newTimeline
RCUSARCUS BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 916,313 shares; 2026Q1: 1,047,935 shares 1,047,935$22.6M5.33%+131,622Timeline
IMCRIMMUNOCORE HLDGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 682,597 shares; 2026Q1: 682,597 shares 682,597$20.6M4.84%0Timeline
CYTKCYTOKINETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 300,000 shares 300,000$19.8M4.65%newTimeline
SNDXSYNDAX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 701,821 shares 701,821$16.4M3.86%newTimeline
NGNENEUROGENE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 785,000 shares; 2026Q1: 782,787 shares 782,787$15.8M3.71%-2,213Timeline
IVAINVENTIVA SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 2,657,997 shares; 2026Q1: 2,657,997 shares 2,657,997$14.8M3.47%0Timeline
IKTINHIBIKASE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 6,178,124 shares; 2026Q1: 8,057,345 shares 8,057,345$13.5M3.19%+1,879,221Timeline
FDMT4D MOLECULAR THERAPEUTICS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 1,302,917 shares 1,302,917$12.1M2.85%newTimeline
XFORX4 PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 2,571,478 shares; 2026Q1: 2,571,478 shares 2,571,478$10.6M2.5%0Timeline
IMVTIMMUNOVANT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 240,165 shares; 2026Q1: 414,054 shares 414,054$10.3M2.42%+173,889Timeline
DSGNDESIGN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 852,013 shares 852,013$9.07M2.13%newTimeline
CAMPCAMP4 THERAPEUTICS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 1,983,986 shares; 2026Q1: 1,939,563 shares 1,939,563$8.55M2.01%-44,423Timeline
NERVMINERVA NEUROSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 1,419,000 shares 1,419,000$8.55M2.01%newTimeline
PMNPROMIS NEUROSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 557,103 shares 557,103$7.08M1.67%newTimeline
SLGLSOL-GEL TECHNOLOGIES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 85,496 shares 85,496$6.77M1.59%newTimeline
IPSCCENTURY THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 2,449,993 shares 2,449,993$5.54M1.3%newTimeline
VTVTVTV THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: 231,000 shares; 2026Q1: 139,578 shares 139,578$5.54M1.3%-91,422Timeline
FTHFAETH THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 125,000 shares 125,000$3.94M0.93%newTimeline
IRDOPUS GENETICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q2: restricted; 2024Q3: not loaded; 2024Q4: not loaded; 2025Q1: not loaded; 2025Q2: not loaded; 2025Q3: not loaded; 2025Q4: not reported; 2026Q1: 500,000 shares 500,000$2.27M0.54%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
XENEXENON PHARMACEUTICALS INC Stockput200,000$11.6Mnew

Sold out in Q1 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ACADACADIA PHARMACEUTICALS INC1,419,406$37.9Mshares
MIND MEDICINE MINDMED INCMIND MEDICINE MINDMED INC2,568,110$34.4Mshares
TYRATYRA BIOSCIENCES INC700,000$18.4Mshares
FOLDAMICUS THERAPEUTIC1,043,313$14.9Mshares
APGEAPOGEE THERAPEUTICS INC192,000$14.5Mshares
TERNTERNS PHARMACEUTICALS INC300,000$12.1Mshares
MBXMBX BIOSCIENCES INC315,158$9.94Mshares
CMPXCOMPASS THERAPEUTICS INC1,415,273$7.6Mshares
ELVNENLIVEN THERAPEUTICS INC199,306$3.07Mshares

How Q1 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0002077247-26-000003 base2026-05-15acceptance time not in the bulk data set