Stempoint Capital LP
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Stempoint Capital LP reported 50 stock positions worth $310.6 million. Its top holding was Syndax Pharmaceuticals (SNDX) at 7.2% of the portfolio, followed by Immunovant (IMVT, 6.7%) and Scholar Rock (SRRK, 6.0%). Compared with Q1 2025, it opened 18 new positions, sold out of 20, added to 16 and reduced 15. The biggest buy was a new position in Cidara Therapeutics (CDTX) and the biggest sale Roivant Sciences (ROIV, shares −77%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001952142
- Portfolio Value
- $310.6M (Q2 2025)
- SEC Filing
- 0001420506-25-002033 ↗ filed Aug 14, 2025
Holdings Value
Holdings 50 stocks · $310.6M
| SNDX Syndax Pharmaceuticals Inc. | 7.15% | 2,372,634 | $22.2M | Add +48.4% |
| IMVT Immunovant Inc. | 6.70% | 1,300,860 | $20.8M | Add +52.4% |
| SRRK Scholar Rock Holding Corp. | 6.02% | 528,115 | $18.7M | Reduce -6.7% |
| CNTA Centessa Pharmaceuticals Ltd. | 5.35% | 1,265,672 | $16.6M | Add +113.3% |
| MDGL Madrigal Pharmaceuticals Inc. | 5.13% | 52,694 | $15.9M | Add +28.7% |
| MRUS Merus NV | 4.51% | 266,094 | $14.0M | Reduce -23.3% |
| ACLX Arcellx Inc. | 4.27% | 201,452 | $13.3M | Reduce -26.4% |
| CDTX Cidara Therapeutics Inc. | 4.18% | 266,774 | $13.0M | New |
| RYTM Rhythm Pharmaceuticals Inc. | 3.60% | 176,752 | $11.2M | Add +422.7% |
| ALKS Alkermes PLC | 3.23% | 351,124 | $10.0M | Add +82.5% |
| DNLI Denali Therapeutics Inc. | 3.19% | 707,915 | $9.9M | Add +6.1% |
| LEGN Legend Biotech Corp.-ADR | 3.09% | 270,144 | $9.6M | New |
| GERN Geron Corp. | 3.02% | 6,649,244 | $9.4M | Add +592.4% |
| ZLAB Zai Lab Ltd.-ADR | 2.82% | 250,438 | $8.8M | Add +847.9% |
| MLYS Mineralys Therapeutics Inc. | 2.75% | 631,586 | $8.6M | New |
| QURE Uniqure NV | 2.57% | 572,615 | $8.0M | Reduce -21.7% |
| ROIV Roivant Sciences Ltd. | 2.18% | 601,781 | $6.8M | Reduce -76.7% |
| AKRO Akero Therapeutics Inc. | 2.01% | 116,779 | $6.2M | Reduce -25.2% |
| INSM Insmed Inc. | 2.00% | 61,578 | $6.2M | Reduce -29.3% |
| SRZN Surrozen Inc. | 1.98% | 686,539 | $6.1M | Add +185.1% |
| WVE Wave Life Sciences Ltd. | 1.88% | 900,338 | $5.9M | Add +902.2% |
| LENZ Lenz Therapeutics Inc. | 1.74% | 183,912 | $5.4M | New |
| NUVL Nuvalent Inc. Class A | 1.47% | 59,828 | $4.6M | Reduce -68.6% |
| KALV Kalvista Pharmaceuticals Inc. | 1.41% | 386,790 | $4.4M | Reduce -0.0% |
| VTGN Vistagen Therapeutics Inc. | 1.33% | 2,413,254 | $4.1M | Add +2.0% |
| APGE Apogee Therapeutics Inc. | 1.18% | 84,466 | $3.7M | New |
| IDYA Ideaya Biosciences Inc. | 1.12% | 165,885 | $3.5M | Add +147.6% |
| TARA Protara Therapeutic Inc. | 1.12% | 1,143,677 | $3.5M | Reduce -3.9% |
| BBOT Bridgebio Oncology Therapeut filed as HELIX ACQUISITION CORP II | 1.06% | 315,812 | $3.3M | Add +57.2% |
| EYPT Eyepoint Inc. | 1.00% | 329,254 | $3.1M | New |
| ARQT Arcutis Biotherapeutics Inc. | 0.93% | 205,672 | $2.9M | Reduce -53.3% |
| RZLT Rezolute Inc. | 0.93% | 644,654 | $2.9M | New |
| TSHA Taysha Gene Therapies Inc. | 0.90% | 1,203,941 | $2.8M | New |
| NAMS Newamsterdam Pharma Co. NV | 0.89% | 152,652 | $2.8M | Add +46.0% |
| BHVN Biohaven Ltd. | 0.79% | 174,754 | $2.5M | Reduce -30.3% |
| REGN Regeneron Pharmaceuticals | 0.79% | 4,672 | $2.5M | New |
| BBIO Bridgebio Pharma Inc. | 0.76% | 54,630 | $2.4M | Reduce -73.8% |
| JANX Janux Therapeutics Inc. | 0.67% | 89,933 | $2.1M | Reduce -73.7% |
| ORIC Oric Pharmaceuticals Inc. | 0.66% | 200,785 | $2.0M | New |
| MBX MBX Biosciences Inc. | 0.52% | 141,021 | $1.6M | Add +46.0% |
| FRNM Freenome Inc. filed as PERCEPTIVE CAP SOLUTIONS COR | 0.51% | 150,000 | $1.6M | No change |
| PRAX Praxis Precision Medicines I | 0.44% | 32,255 | $1.4M | New |
| GHRS GH Research PLC | 0.40% | 100,826 | $1.2M | New |
| TNGX Tango Therapeutics Inc. | 0.34% | 208,800 | $1.1M | New |
| PTGX Protagonist Therapeutics Inc. | 0.30% | 16,770 | $927K | Reduce -65.9% |
| TECX Tectonic Therapeutic Inc. | 0.26% | 40,000 | $795K | New |
| ADCT Adc Therapeutics SA | 0.24% | 283,286 | $759K | New |
| VRNA Verona Pharma Ltd. | 0.23% | 7,407 | $701K | New |
| ABVX Abivax SA-ADR | 0.22% | 87,748 | $671K | New |
| MIND MEDICINE MINDMED INC | 0.19% | 90,852 | $590K | New |
Options reported separately and not counted above: ROIV calls ($618K), IMVT calls ($310K), GERN calls ($53K).
Portfolio Sells Q1 2025 → Q2 2025
| ROIV Roivant Sciences Ltd. | Reduce -76.7% | 2.18% | −6.13 |
| RVMD Revolution Medicines Inc. | Sold out | 0.00% | −3.60 |
| XENE Xenon Pharmaceuticals Inc. | Sold out | 0.00% | −2.94 |
| NUVL Nuvalent Inc. Class A | Reduce -68.6% | 1.47% | −2.84 |
| JANX Janux Therapeutics Inc. | Reduce -73.7% | 0.67% | −2.28 |
| CGON CG Oncology Inc. | Sold out | 0.00% | −2.27 |
| SWTX Springworks Therapeutics Inc. | Sold out | 0.00% | −2.25 |
| CYTK Cytokinetics Inc. | Sold out | 0.00% | −1.92 |
| BPMC Blueprint Medicines Corp. | Sold out | 0.00% | −1.75 |
| BBIO Bridgebio Pharma Inc. | Reduce -73.8% | 0.76% | −1.54 |
| ACLX Arcellx Inc. | Reduce -26.4% | 4.27% | −1.47 |
| ARQT Arcutis Biotherapeutics Inc. | Reduce -53.3% | 0.93% | −1.27 |
| EWTX Edgewise Therapeutics Inc. | Sold out | 0.00% | −1.27 |
| BHVN Biohaven Ltd. | Reduce -30.3% | 0.79% | −1.13 |
| ELVN Enliven Therapeutics Inc. | Sold out | 0.00% | −0.76 |
| NBIX Neurocrine Biosciences Inc. | Sold out | 0.00% | −0.74 |
| ASND Ascendis Pharma A/S | Sold out | 0.00% | −0.73 |
| SYRE Spyre Therapeutics Inc. | Sold out | 0.00% | −0.70 |
| FOLD Amicus Therapeutics Inc. | Sold out | 0.00% | −0.70 |
| ABUS Arbutus Biopharma Corp. | Sold out | 0.00% | −0.52 |
| TARA Protara Therapeutic Inc. | Reduce -3.9% | 1.12% | −0.50 |
| PTGX Protagonist Therapeutics Inc. | Reduce -65.9% | 0.30% | −0.46 |
| OCUL Ocular Therapeutix Inc. | Sold out | 0.00% | −0.29 |
| DYN Dyne Therapeutics Inc. | Sold out | 0.00% | −0.28 |
| SLNO Soleno Therapeutics Inc. | Sold out | 0.00% | −0.25 |
| IFRX Inflarx NV | Sold out | 0.00% | −0.24 |
| SLDB Solid Biosciences Inc. | Sold out | 0.00% | −0.23 |
| SION Sionna Therapeutics Inc. | Sold out | 0.00% | −0.20 |
| BCAX Bicara Therapeutics Inc. | Sold out | 0.00% | −0.20 |
| MRUS Merus NV | Reduce -23.3% | 4.51% | −0.16 |
| INSM Insmed Inc. | Reduce -29.3% | 2.00% | −0.13 |
| KALV Kalvista Pharmaceuticals Inc. | Reduce -0.0% | 1.41% | −0.02 |
| AKRO Akero Therapeutics Inc. | Reduce -25.2% | 2.01% | −0.01 |
| QURE Uniqure NV | Reduce -21.7% | 2.57% | +0.09 |
| SRRK Scholar Rock Holding Corp. | Reduce -6.7% | 6.02% | +0.21 |
Portfolio Buys Q1 2025 → Q2 2025
| CDTX Cidara Therapeutics Inc. | New | 4.18% | +4.18 |
| LEGN Legend Biotech Corp.-ADR | New | 3.09% | +3.09 |
| RYTM Rhythm Pharmaceuticals Inc. | Add +422.7% | 3.60% | +3.02 |
| MLYS Mineralys Therapeutics Inc. | New | 2.75% | +2.75 |
| CNTA Centessa Pharmaceuticals Ltd. | Add +113.3% | 5.35% | +2.63 |
| GERN Geron Corp. | Add +592.4% | 3.02% | +2.53 |
| ZLAB Zai Lab Ltd.-ADR | Add +847.9% | 2.82% | +2.51 |
| IMVT Immunovant Inc. | Add +52.4% | 6.70% | +2.04 |
| LENZ Lenz Therapeutics Inc. | New | 1.74% | +1.74 |
| WVE Wave Life Sciences Ltd. | Add +902.2% | 1.88% | +1.65 |
| ALKS Alkermes PLC | Add +82.5% | 3.23% | +1.20 |
| APGE Apogee Therapeutics Inc. | New | 1.18% | +1.18 |
| SRZN Surrozen Inc. | Add +185.1% | 1.98% | +1.08 |
| EYPT Eyepoint Inc. | New | 1.00% | +1.00 |
| RZLT Rezolute Inc. | New | 0.93% | +0.93 |
| TSHA Taysha Gene Therapies Inc. | New | 0.90% | +0.90 |
| SNDX Syndax Pharmaceuticals Inc. | Add +48.4% | 7.15% | +0.88 |
| MDGL Madrigal Pharmaceuticals Inc. | Add +28.7% | 5.13% | +0.80 |
| REGN Regeneron Pharmaceuticals | New | 0.79% | +0.79 |
| IDYA Ideaya Biosciences Inc. | Add +147.6% | 1.12% | +0.77 |
| ORIC Oric Pharmaceuticals Inc. | New | 0.66% | +0.66 |
| PRAX Praxis Precision Medicines I | New | 0.44% | +0.44 |
| GHRS GH Research PLC | New | 0.40% | +0.40 |
| TNGX Tango Therapeutics Inc. | New | 0.34% | +0.34 |
| BBOT Bridgebio Oncology Therapeut | Add +57.2% | 1.06% | +0.33 |
| DNLI Denali Therapeutics Inc. | Add +6.1% | 3.19% | +0.29 |
| MBX MBX Biosciences Inc. | Add +46.0% | 0.52% | +0.29 |
| TECX Tectonic Therapeutic Inc. | New | 0.26% | +0.26 |
| ADCT Adc Therapeutics SA | New | 0.24% | +0.24 |
| VRNA Verona Pharma Ltd. | New | 0.23% | +0.23 |
| ABVX Abivax SA-ADR | New | 0.22% | +0.22 |
| NAMS Newamsterdam Pharma Co. NV | Add +46.0% | 0.89% | +0.21 |
| MIND MEDICINE MINDMED INC | New | 0.19% | +0.19 |
| VTGN Vistagen Therapeutics Inc. | Add +2.0% | 1.33% | −0.31 |
Options Activity Q1 2025 → Q2 2025
| ROIV Roivant Sciences Ltd. | call | New | 915,000 | $618K |
| IMVT Immunovant Inc. | call | New | 100,000 | $310K |
| EWTX Edgewise Therapeutics Inc. | put | Sold out | 50,000 | $238Kbefore exit |
| CVS CVS Health Corp. | put | Sold out | 64,100 | $165Kbefore exit |
| MLYS Mineralys Therapeutics Inc. | put | Sold out | 125,000 | $94Kbefore exit |
| GERN Geron Corp. | call | New | 300,000 | $53K |
| ARQT Arcutis Biotherapeutics Inc. | call | Sold out | 100,000 | $43Kbefore exit |
| KALV Kalvista Pharmaceuticals Inc. | call | Sold out | 100,000 | $33Kbefore exit |
| BBC Virtus Biotech Clinical Tria | call | Sold out | 132,500 | $17Kbefore exit |
| RYTM Rhythm Pharmaceuticals Inc. | call | Sold out | 10,000 | $16Kbefore exit |
| MRK Merck & Co. Inc. | call | Sold out | 151,700 | $8Kbefore exit |
| NVO Novo-Nordisk A/S-Spons ADR | call | Sold out | 151,700 | $4Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 73 | $577.9M | TNGX, ABVX, RVMD, ERAS, TYRA |
| Q1 2026Amended | 70 | $520.3M | SRRK, ABVX, SNDX, RVMD, IMVT |
| Q4 2025 | 75 | $582.7M | ABVX, SRRK, CNTA, SNDX, GPCR |
| Q3 2025 | 76 | $495.9M | ROIV, QURE, SRRK, IMVT, DNLI |
| Q2 2025 | 50 | $310.6M | SNDX, IMVT, SRRK, CNTA, MDGL |
| Q1 2025 | 52 | $313.1M | ROIV, SNDX, SRRK, ACLX, MRUS |
| Q4 2024 | 48 | $398.7M | SNDX, ROIV, IMVT, MRUS, CRNX |
| Q3 2024 | 50 | $333.4M | SNDX, ROIV, MRUS, IMVT, ARQT |
| Q2 2024Amended | 42 | $339.9M | SNDX, ROIV, IMVT, CRNX, MRUS |
| Q1 2024Amended | 45 | $374.3M | ROIV, CRNX, SNDX, ARQT, IMVT |