Lion Point Capital, LP
Annual return '25
+23.2%
SPY '25
+17.7%
Alpha
+5.5ptsvs SPY
Invested
$16.7M
Holdings
35
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 100%. 4 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$PRAX
PRAXIS PRECISION MEDICINES I
Q4 2025: Exited (was 5.7k shares)
8.6%
02
$MLTX
MOONLAKE IMMUNOTHERAPEUTICS
Q4 2025: Exited (was 67.5k shares)
7.5%
03
$RPRX
ROYALTY PHARMA PLC
Q4 2025: Exited (was 21.4k shares)
6.1%
04
$MIST
MILESTONE PHARMACEUTICALS IN
Q4 2025: Exited (was 658.6k shares)
5.8%
05
$GERN
GERON CORP
Q1 2026: New position (2.4k shares)
5.1%
06
$SNDX
SYNDAX PHARMACEUTICALS INC
Q4 2025: Exited (was 55.0k shares)
5.0%
07
$ARDX
ARDELYX INC
Q4 2025: Exited (was 162.8k shares)
4.6%
08
$FENC
FENNEC PHARMACEUTICALS INC
Q4 2025: Exited (was 123.0k shares)
4.1%
09
$BNTC
BENITEC BIOPHARMA INC
Q4 2025: Exited (was 62.0k shares)
3.9%
10
$SRPT
SAREPTA THERAPEUTICS INC
Held since at least Q1 2024
3.7%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 13:21 UTC.