Checkpoint Capital L.P.
Checkpoint Capital L.P. reported 6 US-listed holdings worth $389.8 million in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: Rhythm Pharmaceuticals Inc. (33.8%), argenx SE (31.3%) and Revolution Medicines, Inc. (19.7%). Against the quarter before, it opened 0 positions, added to 3, trimmed 3 and sold out of 2.
The 6 largest of its 6 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +76.7% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Added to 3
- Revolution Medicines, Inc. RVMD+147,814 shares · +56%
- Cytokinetics Inc. CYTK+295,000 shares · +164%
- Trevi Therapeutics Inc. TRVI+25,000 shares · +50%
Trimmed 3
- argenx SE ARGX-21,717 shares · -14%
- Rhythm Pharmaceuticals Inc. RYTM-41,200 shares · -3%
- Disc Medicine Inc. IRON-46,536 shares · -16%
Sold out of 2
- Septerna Inc. SEPN$2.4 million last quarter
- Crinetics Pharmaceuticals in CRNX$1.5 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| Rhythm Pharmaceuticals Inc. RYTM | 1.2M | $131.7 million | 33.79% | -41.2K |
| argenx SE ARGX | 131.3K | $121.8 million | 31.25% | -21.7K |
| Revolution Medicines, Inc. RVMD | 410.4K | $76.9 million | 19.72% | +147.8K |
| Cytokinetics Inc. CYTK | 475.0K | $40.5 million | 10.38% | +295.0K |
| Disc Medicine Inc. IRON | 240.1K | $17.6 million | 4.51% | -46.5K |
| Trevi Therapeutics Inc. TRVI | 75.0K | $1.4 million | 0.36% | +25.0K |