In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 13, 2025), Finepoint Capital LP reported 5 stock positions worth $504.1 million . Its top holding was Qxo (QXO) at 90.4% of the portfolio, followed by Liberty Media Corp.-Liberty-C (LLYVK, 8.6% ) and Solid Biosciences (SLDB, 0.9% ). Compared with Q1 2025, it sold out of 14, added to 1 and reduced 1. The biggest buy was Liberty Media Corp.-Liberty-C (LLYVK, shares +24% ) and the biggest sale an exit from Liberty Broadband-C (LBRDK).
Location BOSTON, MA
CIK 0001608126
Portfolio Value $504.1M (Q2 2025) Holdings 5 stocks · $504.1M 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 Q1 2025 QXO Qxo Inc. 21,152,868 $455.6M Reduce -13.6% LLYVK Liberty Media Corp.-Liberty-C 537,051 $43.6M Add +24.1% SLDB Solid Biosciences Inc. 961,251 $4.7M No change ANNA Aleanna Inc. 27,717 $200K No change CLDI Calidi Biotherapeutics Inc. 12,499 $3K No change
Options reported separately and not counted above: SPY puts ($725.0M), IWM puts ($126.2M).
Other holdings (3): bonds, preferreds, convertibles and warrants · $177K (not counted above) Security Class Shares / Principal Value Change ANNAW Aleanna Inc. Class A - 29 *W EXP 12/13/202 490,000 $115K No change MNYWW Moneyhero Ltd.-28 *W EXP 09/13/202 895,000 $42K No change LAKESHORE BIOPHARMA CO LTD *W EXP 03/15/202 489,999 $20K No change
Total filed on the 13F, all lines: $504.3M.
Portfolio Sells Q1 2025 → Q2 2025 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 Q1 2025 % Of Portfolio Change To Portfolio ▲ LBRDK Liberty Broadband-C Sold out 0.00% −7.60 SWTX Springworks Therapeutics Inc. Sold out 0.00% −5.43 ASND Ascendis Pharma A/S Sold out 0.00% −4.73 RVMD Revolution Medicines Inc. Sold out 0.00% −4.13 MLTX Moonlake Immunotherapeutics Sold out 0.00% −2.87 LKFT Lakefront Biotherapeutic-ADR Sold out 0.00% −2.78 CYTK Cytokinetics Inc. Sold out 0.00% −2.10 RNAM Avidity Biosciences Inc. Sold out 0.00% −1.90 SRPT Sarepta Therapeutics Inc. Sold out 0.00% −1.70 PRTA Prothena Corp. PLC Sold out 0.00% −1.34 XNCR Xencor Inc. Sold out 0.00% −1.15 EYPT Eyepoint Inc. Sold out 0.00% −0.99 RLAY Relay Therapeutics Inc. Sold out 0.00% −0.94 ARVN Arvinas Inc. Sold out 0.00% −0.82 QXO Qxo Inc. Reduce -13.6% 90.38% +34.47
Portfolio Buys Q1 2025 → Q2 2025 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 Q1 2025 % Of Portfolio Change To Portfolio ▼ LLYVK Liberty Media Corp.-Liberty-C Add +24.1% 8.65% +3.67
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Add +55.4% 1,173,500 $725.0M IWM iShares Russell 2000 ETF put Reduce -60.6% 585,000 $126.2M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025 Security Class Change vs Q1 2025 Shares / Principal Value ▼ GATEW Marblegate Acquisition -CW22 *W EXP 08/31/202 Sold out 735,000 $118Kbefore 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