Trails Edge Capital Partners, LP

CIK 0002077247 · Q1 2026

13F Equity AUM

$436.5M

+7.8% QoQ

Positions

+3 QoQ

AUM Rank

#4,699

Top 38%

Skill Alpha (FF)

—

No alpha data

Quarters Tracked

~0 years

Portfolio Concentration

Top 5: 39.4%Top 10: 65.5%Top 20: 92.9%

PCVX8.8%

XENE8.5%

DFTX7.5%

LBRX7.5%

MIRM7.0%

NRIX6.2%

RVMD5.5%

RCUS5.2%

IMCR4.7%

CYTK4.5%

Others (16)34.5%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Healthcare100.0%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 26Median: 3.24%Avg: 3.85%

0–0.5%

0(0.0%)

0.5–1%

2(1.4%)

1–3%

10(19.3%)

3–5%

6(23.1%)

5%+

8(56.2%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 24Unique: 2vs 20 funds

0.3%Low

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

GEODE CAPITAL MANAGEMENT, LLC

0.6%

VANGUARD CAPITAL MANAGEMENT LLC

0.6%

0.5%

0.5%

0.6%

0.3%

VANGUARD PORTFOLIO MANAGEMENT LLC

0.5%

BANK OF AMERICA CORP /DE/

0.3%

JPMORGAN CHASE & CO

0.2%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New12Increased5Decreased5Exited9

New Positions

DFTX7.5%

+1.7M

RVMD5.5%

+245K

CYTK4.5%

+300K

SNDX3.8%

+702K

FDMT2.8%

+1.3M

DSGN2.1%

+852K

NERV2.0%

+1.4M

PMN1.6%

+557K

SLGL1.6%

+85K

IPSC1.3%

+2.4M

Increased

IKT3.1%

+1.9M(+30%)

MIRM7.0%

+301K(+946%)

IMVT2.4%

+174K(+72%)

RCUS5.2%

+132K(+14%)

XENE8.5%

+43K(+7%)

Decreased

VTVT1.3%

-91,422(-40%)

LBRX7.5%

-76,246(-5%)

PCVX8.8%

-75,000(-10%)

CAMP2.0%

-44,423(-2%)

NGNE3.6%

-2,213(-0%)

Exited

-1,419,406

-2,568,110

-700,000

-1,043,313

-192,000

-300,000

-315,158

-1,415,273

-199,306

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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