Checkpoint Capital L.P.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Checkpoint Capital L.P. reported 8 stock positions worth $214.6 million. Its top holding was Argenx SE - ADR (ARGX) at 38.5% of the portfolio, followed by Rhythm Pharmaceuticals (RYTM, 31.2%) and Corcept Therapeutics (CORT, 11.8%). Compared with Q1 2025, it sold out of 6, added to 4 and reduced 4. The biggest buy was Corcept Therapeutics (CORT, shares +6778%) and the biggest sale an exit from Soleno Therapeutics (SLNO).
- Most Recent 13F
- Q2 2026
- Location
- SAN FRANCISCO, CA
- CIK
- 0001977548
- Portfolio Value
- $214.6M (Q2 2025)
- SEC Filing
- 0001977548-25-000006 ↗ filed Aug 14, 2025
Holdings Value
Holdings 8 stocks · $214.6M
| ARGX Argenx SE - ADR | 38.52% | 149,977 | $82.7M | Add +30.4% |
| RYTM Rhythm Pharmaceuticals Inc. | 31.21% | 1,060,000 | $67.0M | Add +16.8% |
| CORT Corcept Therapeutics Inc. | 11.76% | 343,917 | $25.2M | Add +6778.3% |
| IRON Disc Medicine Inc. | 6.54% | 265,000 | $14.0M | Add +8.9% |
| RVMD Revolution Medicines Inc. | 4.80% | 280,000 | $10.3M | Reduce -28.6% |
| SEPN Septerna Inc. | 2.89% | 586,473 | $6.2M | Reduce -28.9% |
| KYMR Kymera Therapeutics Inc. | 2.18% | 106,991 | $4.7M | Reduce -21.7% |
| PTGX Protagonist Therapeutics Inc. | 2.09% | 81,311 | $4.5M | Reduce -53.6% |
Portfolio Sells Q1 2025 → Q2 2025
| SLNO Soleno Therapeutics Inc. | Sold out | 0.00% | −6.78 |
| RVMD Revolution Medicines Inc. | Reduce -28.6% | 4.80% | −2.80 |
| STOK Stoke Therapeutics Inc. | Sold out | 0.00% | −2.67 |
| PTGX Protagonist Therapeutics Inc. | Reduce -53.6% | 2.09% | −2.55 |
| TCRX Tscan Therapeutics Inc. | Sold out | 0.00% | −1.53 |
| CDTX Cidara Therapeutics Inc. | Sold out | 0.00% | −1.23 |
| IMCR Immunocore Holdings PLC-ADR | Sold out | 0.00% | −0.15 |
| RAPT THERAPEUTICS INC | Sold out | 0.00% | −0.07 |
| KYMR Kymera Therapeutics Inc. | Reduce -21.7% | 2.18% | +0.12 |
| SEPN Septerna Inc. | Reduce -28.9% | 2.89% | +0.27 |
Portfolio Buys Q1 2025 → Q2 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 6 | $389.8M | RYTM, ARGX, RVMD, CYTK, IRON |
| Q1 2026 | 8 | $278.7M | ARGX, RYTM, RVMD, IRON, CYTK |
| Q4 2025 | 6 | $315.6M | ARGX, RYTM, IRON, RVMD, CORT |
| Q3 2025 | 10 | $298.5M | ARGX, RYTM, CORT, IRON, RVMD |
| Q2 2025 | 8 | $214.6M | ARGX, RYTM, CORT, IRON, RVMD |
| Q1 2025 | 14 | $182.3M | ARGX, RYTM, RVMD, SLNO, IRON |
| Q4 2024 | 16 | $196.5M | ARGX, RYTM, PHAT, AXSM, IRON |
| Q3 2024 | 16 | $201.6M | ARGX, RYTM, PHAT, CYTK, AXSM |
| Q2 2024 | 16 | $165.9M | RYTM, ARGX, AXSM, AVDL, PTGX |
| Q1 2024 | 17 | $149.6M | RYTM, ARGX, CYTK, AVDL, AXSM |