SEC 13F Intelligence

Managers / Q1 2026

Lion Point Capital, LP

CIK 0001643354 · 375 PARK AVE, SUITE 2609, NEW YORK, NY, 10152 · 212-356-6200

Reported Value
$17M
Q1 2026
Positions
35
Filings on Record
31
2019–present window
Filed
May 15, 2026
original filing

Summary

Lion Point Capital, LP reported $17M in U.S.-listed holdings across 35 positions for Q1 2026.

Its largest position, PRAX, represents 8.6% of the portfolio.

Compared with Q4 2025, the fund opened 0 new positions and exited 4.

Portfolio Metrics

Turnover
+6.3%
vs prior filed quarter
Top-10 Concentration
+54.6%
share of reported value
Largest Position
+8.6%
Praxis Precision Medicines I

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $636MQ4 ’18Q1 ’19: $1.1BQ2 ’19: $1.0BQ3 ’19: $897MQ4 ’19: $1.1BQ4 ’19Q1 ’20: $379MQ2 ’20: $412MQ3 ’20: $456MQ4 ’20: $519MQ4 ’20Q1 ’21: $550MQ2 ’21: $579MQ3 ’21: $533MQ4 ’21: $373MQ4 ’21Q1 ’22: $431MQ2 ’22: $878MQ3 ’22: $454MQ4 ’22: $703MQ4 ’22Q1 ’23: $243MQ2 ’23: $221MQ3 ’23: $224MQ4 ’23: $200MQ4 ’23Q1 ’24: $179MQ2 ’24: $55MQ3 ’24: $45MQ4 ’24: $19MQ4 ’24Q1 ’25: $16MQ2 ’25: $15MQ3 ’25: $18MQ4 ’25: $19MQ4 ’25Q1 ’26: $17Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 85.7%Other: 11.0%ADR: 3.3%
  • Common Stock · 85.7% · $14M
  • Other · 11.0% · $2M
  • ADR · 3.3% · $546,273

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DAWNGBXDAY ONE BIOPHARMACEUTICALS ISOLD OUT−42.0K0−$391,440$0
VTYXUSDVENTYX BIOSCIENCES INCSOLD OUT−41.5K0−$374,745$0
NERVMINERVA NEUROSCIENCES INCSOLD OUT−35.0K0−$140,700$0
MRSNMERSANA THERAPEUTICS INCSOLD OUT−1000−$2,893$0
CMPSCOMPASS PATHWAYS PLCADDED+22.0K80.0K+$42,200$442,400
HUMAHUMACYTE INCADDED+150.0K650.0K−$85,895$394,355
MISTMILESTONE PHARMACEUTICALS INADDED+65.0K820.0K−$549,300$975,800
JSPRJASPER THERAPEUTICS INCHELD+0465.0K−$443,517$407,433

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

35 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1PRAXPRAXIS PRECISION MEDICINES Ihistory →COM NEW8.57%$1M4.5K
2MLTXMOONLAKE IMMUNOTHERAPEUTICShistory →CLASS A ORD7.52%$1M67.5K
3ROYALTY PHARMA PLCSHS CLASS A6.14%$1M21.4K
4MISTMILESTONE PHARMACEUTICALS INhistory →COM5.83%$975,800820.0K
5GONGERON CORPhistory →COM5.15%$861,220578.0K
6SNDXSYNDAX PHARMACEUTICALS INChistory →COM5.03%$840,96036.0K
7ARDXARDELYX INChistory →COM4.61%$770,614128.7K
8FRXFENNEC PHARMACEUTICALS INChistory →COM4.13%$691,469112.4K
9BNTCBENITEC BIOPHARMA INChistory →COM NEW3.95%$660,30062.0K
10SRPTSAREPTA THERAPEUTICS INChistory →COM3.71%$620,16028.5K
11IRONDISC MEDICINE INChistory →COM3.10%$517,9148.1K
12CUE1EURCUE BIOPHARMA INChistory →COM3.03%$506,4362.20M
13CMPSCOMPASS PATHWAYS PLChistory →SPONSORED ADS2.64%$442,40080.0K
14BIOHAVEN LTDCOM2.61%$437,38251.7K
15LNTHLANTHEUS HLDGS INChistory →COM2.49%$417,1755.5K
16JSPRJASPER THERAPEUTICS INChistory →COM NEW2.44%$407,433465.0K
17HUMAHUMACYTE INChistory →COM2.36%$394,355650.0K
18VTRSVIATRIS INChistory →COM2.24%$374,22727.7K
19KURAKURA ONCOLOGY INChistory →COM2.24%$373,98046.0K
20BBIOBRIDGEBIO PHARMA INChistory →COM2.22%$371,3005.0K
21DYNDYNE THERAPEUTICS INChistory →COM1.95%$326,34018.0K
22RCKTROCKET PHARMACEUTICALS INChistory →COM1.84%$307,88086.0K
23PCRXPACIRA BIOSCIENCES INChistory →COM1.82%$305,10013.5K
24EWTXEDGEWISE THERAPEUTICS INChistory →COM1.71%$286,6509.1K
25MLYSMINERALYS THERAPEUTICS INChistory →COM1.70%$284,44510.5K
26MCRBSERES THERAPEUTICS INChistory →COM NEW1.67%$280,02631.6K
27JANXJANUX THERAPEUTICS INChistory →COM1.58%$264,10019.0K
28UNIQURE NVSHS1.44%$240,34514.7K
29RGNXREGENXBIO INChistory →COM1.33%$222,90826.6K
30AZTAAZENTA INChistory →COM1.22%$204,9619.7K
31INVAINNOVIVA INChistory →COM1.14%$191,0608.2K
32GH RESEARCH PLCORDINARY SHARES0.86%$143,41210.2K
33ARQTARCUTIS BIOTHERAPEUTICS INCCOM0.74%$123,6905.3K
34IPHAINNATE PHARMA S ASPONSORED ADS0.62%$103,87381.2K
35SPRBSPRUCE BIOSCIENCES INCCOM NEW0.39%$65,3501.0K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$17M35May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$19M39Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$18M27Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$15M19Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$16M21May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$19M19Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$45M25Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$55M27Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$179M32May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$200M30Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$224M31Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$221M30Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$243M31May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$703M32Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$454M41Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$878M40Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$431M35May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$373M33Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$533M38Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$579M34Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$550M30May 19, 2021RESTATEMENTchanges · EDGAR ↗
Q4 2020$519M24Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$456M24Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$412M24Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$379M25May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$1.1B26Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$897M26Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$1.0B24Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$1.1B24May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$636M35Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.