In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Finepoint Capital LP reported 20 stock positions worth $866.7 million . Its top holding was Qxo (QXO) at 45.7% of the portfolio, followed by Liberty Broadband-C (LBRDK, 17.4% ) and Liberty Media Corp.-Liberty-C (LLYVK, 6.4% ). Compared with Q3 2024, it opened 4 new positions, sold out of 2, added to 10 and reduced 4. The biggest buy was a new position in Liberty Media Corp.-Liberty-C (LLYVK) and the biggest sale Qxo (QXO, shares −3% ).
Location BOSTON, MA
CIK 0001608126
Portfolio Value $866.7M (Q4 2024) Holdings 20 stocks · $866.7M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2024 QXO Qxo Inc. 24,933,825 $396.4M Reduce -3.2% LBRDK Liberty Broadband-C 2,015,710 $150.7M Add +1.1% LLYVK Liberty Media Corp.-Liberty-C 812,792 $55.3M New ARGX Argenx SE - ADR 52,928 $32.6M Reduce -2.8% RVMD Revolution Medicines Inc. 710,260 $31.1M Reduce -3.0% SWTX Springworks Therapeutics Inc. 748,752 $27.1M Add +15.0% ASND Ascendis Pharma A/S 184,872 $25.5M Reduce -2.7% MLTX Moonlake Immunotherapeutics 447,935 $24.3M Add +15.2% SRPT Sarepta Therapeutics Inc. 161,935 $19.7M Add +21.3% LKFT Lakefront Biotherapeutic-ADR filed as GALAPAGOS NV 674,762 $18.6M Add +21.0% XNCR Xencor Inc. 660,000 $15.2M New CYTK Cytokinetics Inc. 318,448 $15.0M Add +24.2% ARVN Arvinas Inc. 713,778 $13.7M Add +24.3% RNAM Avidity Biosciences Inc. 391,300 $11.4M New PRTA Prothena Corp. PLC 657,071 $9.1M Add +51.6% RLAY Relay Therapeutics Inc. 2,175,646 $9.0M Add +33.8% EYPT Eyepoint Inc. 1,111,104 $8.3M Add +57.1% SLDB Solid Biosciences Inc. 961,251 $3.8M No change ANNA Aleanna Inc. 27,717 $197K New CLDI Calidi Biotherapeutics Inc. 12,500 $14K No change
Options reported separately and not counted above: SPY puts ($442.5M), IWM puts ($328.1M).
Other holdings (4): bonds, preferreds, convertibles and warrants · $192K (not counted above) Security Class Shares / Principal Value Change ANNAW Aleanna Inc. Class A - 29 *W EXP 12/13/202 490,000 $69K New MNYWW Moneyhero Ltd.-28 *W EXP 09/13/202 895,000 $49K No change LAKESHORE BIOPHARMA CO LTD *W EXP 03/15/202 489,999 $49K No change GATEW Marblegate Acquisition -CW22 *W EXP 08/31/202 735,000 $26K No change
Total filed on the 13F, all lines: $866.9M.
Portfolio Sells Q3 2024 → Q4 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▲ QXO Qxo Inc. Reduce -3.2% 45.74% −3.65 TVTX Travere Therapeutics Inc. Sold out 0.00% −3.03 ACAD Acadia Pharmaceuticals Inc. Sold out 0.00% −1.69 ASND Ascendis Pharma A/S Reduce -2.7% 2.94% −0.52 RVMD Revolution Medicines Inc. Reduce -3.0% 3.58% −0.45 ARGX Argenx SE - ADR Reduce -2.8% 3.76% +0.17
Portfolio Buys Q3 2024 → Q4 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2024 % Of Portfolio Change To Portfolio ▼ LLYVK Liberty Media Corp.-Liberty-C New 6.38% +6.38 XNCR Xencor Inc. New 1.75% +1.75 RNAM Avidity Biosciences Inc. New 1.31% +1.31 SWTX Springworks Therapeutics Inc. Add +15.0% 3.12% +0.59 MLTX Moonlake Immunotherapeutics Add +15.2% 2.80% +0.41 EYPT Eyepoint Inc. Add +57.1% 0.96% +0.27 SRPT Sarepta Therapeutics Inc. Add +21.3% 2.27% +0.24 LKFT Lakefront Biotherapeutic-ADR Add +21.0% 2.14% +0.19 PRTA Prothena Corp. PLC Add +51.6% 1.05% +0.17 CYTK Cytokinetics Inc. Add +24.2% 1.73% +0.08 ANNA Aleanna Inc. New 0.02% +0.02 ARVN Arvinas Inc. Add +24.3% 1.58% −0.14 RLAY Relay Therapeutics Inc. Add +33.8% 1.03% −0.37 LBRDK Liberty Broadband-C Add +1.1% 17.39% −1.36
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Add +36.0% 755,000 $442.5M IWM iShares Russell 2000 ETF put Add +39.4% 1,485,000 $328.1M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2024 → Q4 2024 Security Class Change vs Q3 2024 Shares / Principal Value ▼ ANNAW Aleanna Inc. Class A - 29 *W EXP 12/13/202 New 490,000 $69K IVCPW Swiftmerge Acquisition -CW23 *W EXP 12/13/202 Sold out 490,000 $39Kbefore exit CDAWF Compass Digital Acq -CW28 *W EXP 99/99/999 Sold out 459,906 $28Kbefore exit CLDWW Calidi Biotherapeutics -CW23 *W EXP 03/14/202 Sold out 655,200 $9Kbefore exit
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 4 $460.8M QXO, RXO, ANNA, CLDI Q1 2026 4 $416.6M QXO, RXO, ANNA, CLDI Q4 2025 5 $532.7M QXO, RXO, SLDB, ANNA, CLDI Q3 2025 5 $542.8M QXO, RXO, SLDB, ANNA, CLDI Q2 2025 5 $504.1M QXO, LLYVK, SLDB, ANNA, CLDI Q1 2025 19 $592.5M QXO, LBRDK, SWTX, LLYVK, ASND Q4 2024 20 $866.7M QXO, LBRDK, LLYVK, ARGX, RVMD Q3 2024 18 $822.2M QXO, LBRDK, RVMD, ARGX, ASND Q2 2024 17 $351.8M LBRDK, RVMD, ASND, SWTX, ARGX Q1 2024 17 $376.0M LBRDK, SWTX, ASND, ARVN, RVMD