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Checkpoint Capital Portfolio holdings

AUM $279M
1-Year Est. Return 45.74%
This Fund
S&P 500
This Quarter Est. Return
+3.75%
1 Year Est. Return
+45.74%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$150M
AUM Growth
-$15.5M
Cap. Flow
-$16.9M
Cap. Flow %
-11.31%
Top 10 Hldgs %
92.23%
Holding
23
New
4
Increased
7
Reduced
6
Closed
6

Top Buys

Rank Stock Value
1
CORT icon
Corcept Therapeutics
CORT
+$6.47M
2
AVDL
Avadel Pharmaceuticals
AVDL
+$5.61M
3
ARGX icon
argenx
ARGX
+$4.65M
4
RYTM icon
Rhythm Pharmaceuticals
RYTM
+$4.18M
5
MIRM icon
Mirum Pharmaceuticals
MIRM
+$3.53M

Top Sells

Rank Stock Value
1
SWTX
SpringWorks Therapeutics
SWTX
+$12.4M
2
IRWD icon
Ironwood Pharmaceuticals
IRWD
+$3.17M
3
CYTK icon
Cytokinetics
CYTK
+$3.09M
4
AXSM icon
Axsome Therapeutics
AXSM
+$1.92M
5
TRVI icon
Trevi Therapeutics
TRVI
+$1.75M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RYTM icon
1
Rhythm Pharmaceuticals
RYTM
$7.96B
$35.8M 23.91%
825,500
+95,500
+13% +$4.18M
ARGX icon
2
argenx
ARGX
$54.1B
$32.3M 21.58%
82,000
+12,000
+17% +$4.65M
CYTK icon
3
Cytokinetics
CYTK
$10.4B
$13.3M 8.9%
190,000
-40,000
-17% -$3.09M
AVDL
4
DELISTED
Avadel Pharmaceuticals
AVDL
$11.8M 7.92%
701,387
+376,387
+116% +$5.61M
AXSM icon
5
Axsome Therapeutics
AXSM
$10.9B
$10.6M 7.06%
132,437
-22,909
-15% -$1.92M
MIRM icon
6
Mirum Pharmaceuticals
MIRM
$6.14B
$9.1M 6.08%
362,193
+128,534
+55% +$3.53M
PTGX icon
7
Protagonist Therapeutics
PTGX
$9.44B
$8.11M 5.42%
280,301
+13,445
+5% +$366K
CORT icon
8
Corcept Therapeutics
CORT
$12B
$6.9M 4.61%
+273,776
New +$6.47M
IRWD icon
9
Ironwood Pharmaceuticals
IRWD
$714M
$5.39M 3.6%
618,528
-261,472
-30% -$3.17M
PHAT icon
10
Phathom Pharmaceuticals
PHAT
$692M
$4.73M 3.16%
445,161
+85,715
+24% +$728K
ATYR
11
aTyr Pharma
ATYR
$50.1M
$2.82M 1.89%
1,446,477
-57,077
-4% -$99.6K
VSTM icon
12
Verastem
VSTM
$610M
$1.99M 1.33%
+168,739
New +$1.95M
GHRS icon
13
GH Research
GHRS
$2.08B
$1.98M 1.32%
185,653
-108,292
-37% -$860K
TRVI icon
14
Trevi Therapeutics
TRVI
$2.64B
$1.75M 1.17%
506,082
-786,234
-61% -$1.75M
APLT
15
DELISTED
Applied Therapeutics
APLT
$1.5M 1%
+220,000
New +$988K
ALLK
16
DELISTED
Allakos
ALLK
$968K 0.65%
767,964
+323,160
+73% +$502K
ATRA icon
17
Atara Biotherapeutics
ATRA
$76.1M
$620K 0.41%
+35,714
New +$634K
ACRS icon
18
Aclaris Therapeutics
ACRS
$869M
– –
-453,614
Closed -$476K
EWTX icon
19
Edgewise Therapeutics
EWTX
$4.73B
– –
-33,000
Closed -$361K
IRON icon
20
Disc Medicine
IRON
$2.97B
– –
-10,000
Closed -$578K
IRWD icon
21
CALL
Ironwood Pharmaceuticals
IRWD
$714M
– –
-500,000
Closed -$5.72M
SWTX
22
DELISTED
SpringWorks Therapeutics
SWTX
– –
-340,000
Closed -$12.4M
XBI icon
23
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.3B
– –
-180,000
Closed -$16.1M

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BWG
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PBPIA
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Checkpoint Capital's Q1 2024 Portfolio in Review

As of Q1 2024, Checkpoint Capital held 23 positions worth $150M, down 9.4% from $165M the previous quarter. Its ten largest holdings account for 92% of the portfolio.

Checkpoint Capital withdrew a net $16.9M in Q1 2024, closing 6 positions and reducing 6 holdings. Its most notable exit was SpringWorks Therapeutics, an estimated $12.4M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 87% a quarter earlier.

Against the trend, Checkpoint Capital opened a new position in Corcept Therapeutics worth $6.9M.

  • Checkpoint Capital's largest Q1 2024 buy was Corcept Therapeutics: 273,776 shares worth $6.9M.
  • Checkpoint Capital added most to Avadel Pharmaceuticals in Q1 2024, an estimated $5.61M increase.
  • Checkpoint Capital's biggest Q1 2024 reduction was Ironwood Pharmaceuticals, cutting an estimated $3.17M.
  • Checkpoint Capital fully exited SpringWorks Therapeutics in Q1 2024, selling an estimated $12.4M.
  • Checkpoint Capital's ten largest holdings make up 92% of its $150M portfolio in Q1 2024.
  • Checkpoint Capital opened 4 new positions and closed 6 in Q1 2024.
  • Checkpoint Capital's portfolio value fell 9.4% quarter-over-quarter to $150M.

Based on Checkpoint Capital's 13F filing for Q1 2024, filed 15 May 2024.