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Livermore
Livermore
ZHEN

Checkpoint Capital L.P.

SEC CIK
0001977548
Latest filing
Aug 14, 2026

The latest 13F from Checkpoint Capital L.P. covers Q2 2026 (filed Aug 14, 2026): 6 long positions worth $389.8M. The top 10 holdings make up 100.0% of the portfolio, and the largest is Rhythm Pharmaceuticals, Inc. (RYTM) at 33.8%. Livermore has 11 filings on Form 13F from this institution, going back to Q4 2023.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
0
Added
3
Est. +$53.3M
Reduced
3
Est. −$28.1M
Sold out
2
Est. −$3.87M

Top 5 holdings

Share of this quarter's portfolio value

  1. RYTMRhythm Pharmaceuticals, Inc.
    33.8%$131.7MHistory
  2. ARGXArgenx SE
    31.3%$121.8MHistory
  3. RVMDRevolution Medicines, Inc.
    19.7%$76.9MHistory
  4. CYTKCytokinetics Inc
    10.4%$40.5MHistory
  5. IRONDisc Medicine, Inc.
    4.5%$17.6MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. RVMDRevolution Medicines, Inc.
    +$27.7MAddedHistory
  2. CYTKCytokinetics Inc
    +$25.1MAddedHistory
  3. TRVITrevi Therapeutics, Inc.
    +$466.3KAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. RVMDRevolution Medicines, Inc.
    +10.55 pp9.2% → 19.7%History
  2. CYTKCytokinetics Inc
    +6.12 pp4.3% → 10.4%History
  3. TRVITrevi Therapeutics, Inc.
    +0.14 pp0.2% → 0.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. ARGXArgenx SE
    −$20.1MReducedHistory
  2. RYTMRhythm Pharmaceuticals, Inc.
    −$4.57MReducedHistory
  3. IRONDisc Medicine, Inc.
    −$3.40MReducedHistory
  4. SEPNSepterna, Inc.
    −$2.41MSold outHistory
  5. CRNXCrinetics Pharmaceuticals, Inc.
    −$1.46MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. ARGXArgenx SE
    −8.85 pp40.1% → 31.3%History
  2. RYTMRhythm Pharmaceuticals, Inc.
    −4.52 pp38.3% → 33.8%History
  3. IRONDisc Medicine, Inc.
    −2.07 pp6.6% → 4.5%History
  4. SEPNSepterna, Inc.
    −0.86 pp0.9% → 0.0%History
  5. CRNXCrinetics Pharmaceuticals, Inc.
    −0.52 pp0.5% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$389.8M
+$111.1M (+39.9%) vs. prior quarter
Positions
6
−2 vs. prior quarter
Top 10 concentration
100.0%
Top 10 as share of value
Turnover
9.6%
Q2 2026, one quarter
Average holding period
9.3 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q4 2023), so positions held before then are understated.

13F filings by quarter

11 quarters, going back to Q4 2023. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $389.8M (Q2 2026)

Q4 2023: $143.3MQ1 2024: $149.6MQ2 2024: $165.9MQ3 2024: $201.6MQ4 2024: $196.5MQ1 2025: $182.3MQ2 2025: $214.6MQ3 2025: $298.5MQ4 2025: $315.6MQ1 2026: $278.7MQ2 2026: $389.8M
Q4 2023Q2 2026
13F filings of Checkpoint Capital L.P. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 20266$389.8MRYTMARGXRVMDvs. Q1 2026SEC
Q1 2026May 15, 20268$278.7MARGXRYTMRVMDvs. Q4 2025SEC
Q4 2025Feb 17, 20266$315.6MARGXRYTMIRONvs. Q3 2025SEC
Q3 2025Nov 14, 202510$298.5MARGXRYTMCORTvs. Q2 2025SEC
Q2 2025Aug 14, 20258$214.6MARGXRYTMCORTvs. Q1 2025SEC
Q1 2025May 15, 202514$182.3MARGXRYTMRVMDvs. Q4 2024SEC
Q4 2024Feb 14, 202516$196.5MARGXRYTMPHATvs. Q3 2024SEC
Q3 2024Nov 14, 202416$201.6MARGXRYTMPHATvs. Q2 2024SEC
Q2 2024Aug 14, 202416$165.9MRYTMARGXAXSMvs. Q1 2024SEC
Q1 2024May 15, 202417$149.6MRYTMARGXCYTKvs. Q4 2023SEC
Q4 2023Feb 14, 202417$143.3MRYTMARGXCYTK–SEC

13D and 13G filings

Companies where Checkpoint Capital L.P. reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

Checkpoint Capital L.P. does not currently report owning 5% or more of any company.

Latest filings

4 filings on file made by Checkpoint Capital L.P. or listing it as a reporting person, newest first.

Schedule 13D and 13G filings by Checkpoint Capital L.P.
CompanyFiled (ET)FormStakeChangeEvent dateFiling
PVLAPalvella Therapeutics, Inc.Feb 14, 202413G/AOld format–––SEC
KALAKALA BIO, Inc.Feb 14, 202413G/AOld format–––SEC
KALAKALA BIO, Inc.Jun 15, 202313GOld format–New–SEC
PVLAPalvella Therapeutics, Inc.Jun 12, 202313GOld format–New–SEC