Trails Edge Capital Partners, LP holds a focused book of 26 stocks worth $424.9M as of Q1 2026 (disclosed May 15, 2026, a ~45-day 13F lag). This quarter they opened Definium Therapeutics Inc and trimmed Vaxcyte Inc. Their largest long position is Vaxcyte Inc at 9% of the equity book. They also disclosed $11.6M in put options (a bearish bet), shown separately below and excluded from the equity book.
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Use Arkolith to show Trails Edge Capital Partners, LP's latest holdings, largest changes, and filing provenance.
Top-heavy: focused book
Share of the disclosed book in its largest positions. A higher top-5 share means a more concentrated, higher-conviction portfolio.
98% mapped to company sectors
Direct operating-company sectors from our SIC-based security master. ETF/fund and unclassified holdings stay visible separately; this is not ETF look-through exposure.
Estimated $ traded · quarter-end prices, no cost basis
Bars show each stock's share of the portfolio. Click a row for its position history.
| # | Security | Value | Shares | % Port | Last move | History |
|---|---|---|---|---|---|---|
| 1 | Vaxcyte Inc COM | $38.5M | 662.5K | 9.1% | ▼−10% Reduced · −75K sh | |
| 2 | Definium Therapeutics Inc COM SHS | $32.9M | 1.74M | 7.7% | ▲New New position | |
| 3 | LB Pharmaceuticals Inc COM SHS | $32.5M | 1.32M | 7.7% | ▼−5.5% Reduced · −76K sh | |
| 4 | Mirum Pharmaceuticals Inc COM | $30.8M | 333.3K | 7.2% | ▲10× Added · +301K sh | |
| 5 | Nurix Therapeutics Inc COM | $27.0M | 1.74M | 6.4% | —Held | |
| 6 | Xenon Pharmaceuticals Inc COM | $25.6M | 440.0K | 6.0% | ▼−26% Reduced · −157K sh | |
| 7 | Revolution Medicines Inc COM | $23.8M | 245.0K | 5.6% | ▲New New position | |
| 8 | Arcus Biosciences Inc COM | $22.6M | 1.05M | 5.3% | ▲+14% Added · +132K sh | |
| 9 | Immunocore Hldgs PLC ADS | $20.6M | 682.6K | 4.8% | —Held | |
| 10 | Cytokinetics Inc COM NEW | $19.8M | 300.0K | 4.7% | ▲New New position | |
| 11 | Syndax Pharmaceuticals Inc COM | $16.4M | 701.8K | 3.9% | ▲New New position | |
| 12 | Neurogene Inc COM | $15.8M | 782.8K | 3.7% | ▼−0.3% Reduced · −2K sh | |
| 13 | Inventiva Sa ADS | $14.8M | 2.66M | 3.5% | —Held | |
| 14 | Inhibikase Therapeutics Inc COM NEW | $13.5M | 8.06M | 3.2% | ▲+30% Added · +1.9M sh | |
| 15 | 4D Molecular Therapeutics In COM | $12.1M | 1.30M | 2.9% | ▲New New position | |
| 16 | X4 Pharmaceuticals Inc COM NEW | $10.6M | 2.57M | 2.5% | —Held | |
| 17 | Immunovant Inc COM | $10.3M | 414.1K | 2.4% | ▲+72% Added · +174K sh | |
| 18 | Design Therapeutics Inc COM | $9.1M | 852.0K | 2.1% | ▲New New position | |
| 19 | Camp4 Therapeutics Corp COM | $8.6M | 1.94M | 2.0% | ▼−2.2% Reduced · −44K sh | |
| 20 | Minerva Neurosciences Inc COM NEW | $8.5M | 1.42M | 2.0% | ▲New New position | |
| 21 | Promis Neurosciences Inc COM SHS | $7.1M | 557.1K | 1.7% | ▲New New position | |
| 22 | Sol-Gel Technologies Ltd SHS NEW | $6.8M | 85.5K | 1.6% | ▲New New position | |
| 23 | Century Therapeutics Inc COM | $5.5M | 2.45M | 1.3% | ▲New New position | |
| 24 | VTV Therapeutics Inc CL A NEW | $5.5M | 139.6K | 1.3% | ▼−40% Reduced · −91K sh | |
| 25 | Sensei Biotherapeutics Inc COM NEW | $3.9M | 125.0K | 0.9% | ▲New New position | |
| 26 | Opus Genetics Inc COM | $2.3M | 500.0K | 0.5% | ▲New New position |
Put / call positions from the 13F — totals include every disclosed option leg
| Type | Underlying | Notional value | Underlying shares |
|---|---|---|---|
| PUT · bearish | XENON PHARMACEUTICALS INCXENE | $11.6M | 200K |
13F filers disclose option positions at the market value of the underlying the contracts reference, not the premium paid. A put is a bearish bet (it gains if the stock falls); a call is bullish. “Underlying shares” is the share count the contracts control, not a share holding. These legs are excluded from the equity book, weighting, concentration and sector figures above.
As-of date vs the date the SEC received each filing
Holdings from SEC EDGAR 13F-HR filings, updated quarterly ~45 days after quarter-end. Public domain. The book and weighting are long equity only; disclosed put/call options are listed separately and excluded from those totals. Price-derived performance is withheld until the price-source policy and freshness gate are green.