Lion Point Capital, LP

Hedge Fund • Event Driven

Lion Point Capital, LP is an Event Driven Hedge Fund based in Miami, FL led by Carl Didric Marcus Cederholm, reporting $410.3M in AUM as of Q3 2025 with 98% Healthcare concentration and 58% concentrated in top 10 holdings.

CIOCarl Didric Marcus Cederholm

Portfolio Value: $17.6M
Positions: 27
Top Holding: MLYS at 8.4%
Last Reported: Q3 2025

Address1450 Brickell Ave., Suite 1480, Miami, FL, 33131, United States

Top Holdings

Largest long holdings in Lion Point Capital, LP's portfolio (58.1% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Mineralys Therapeutics, Inc. MLYS	Biotechnology Healthcare	$1.5M	8.40%	-$1.5M Sold	0.05% 39.0K shares	Q1 2024 Held for 1y 8m
2 Milestone Pharmaceuticals MIST	Biotechnology Healthcare	$1.3M	7.48%	+$219.5K Bought	0.77% 658.6K shares	Q1 2022 Held for 3y 8m
3 Fennec Pharmaceuticals FENC	Biotechnology Healthcare	$1.2M	6.54%	-$680.5K Sold	0.44% 123.0K shares	Q2 2023 Held for 2y 5m
4 Jasper Therapeutics, Inc. JSPR	Biotechnology Healthcare	$948.6K	5.39%	+$599.9K Bought	1.43% 398.6K shares	Q1 2024 Held for 1y 8m
5 Avadel Pharmaceuticals AVDL	Drug Manufacturers - Specialty & Generic Healthcare	$911.6K	5.18%	-$595.5K Sold	0.06% 59.7K shares	Q3 2023 Held for 2y 2m
6 Kiniksa Pharmaceuticals International, plc KNSA	Biotechnology Healthcare	$908.6K	5.16%	-$873.7K Sold	0.03% 23.4K shares	Q1 2020 Held for 5y 8m
7 Insmed INSM	Biotechnology Healthcare	$900.1K	5.11%	-$633.6K Sold	0.00% 6.3K shares	Q2 2022 Held for 3y 5m
8 Ardelyx ARDX	Biotechnology Healthcare	$896.8K	5.09%	-$951.3K Sold	0.07% 162.8K shares	Q3 2022 Held for 3y 2m
9 Benitec Biopharma Inc. BNTC	Biotechnology Healthcare	$869.9K	4.94%	—	0.24% 62.0K shares	Q3 2024 Held for 1y 2m
10 Syndax Pharmaceuticals SNDX	Biotechnology Healthcare	$846.2K	4.81%	—	0.06% 55.0K shares	Q2 2023 Held for 2y 5m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Lion Point Capital, LP's latest filing

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Market Value

$17.6M

Prior: $14.7M

Q/Q Change

+19.51%

+$2.9M

Net Flows % of MV

-12.77%

Turnover Ratio

28.4%

New Purchases

7 stocks

$2.9M

Added To

3 stocks

+$1.0M

Sold Out Of

0 stocks

Reduced Holdings

8 stocks

-$6.1M

Increased Positions

Position	Shares Δ	Change
1 Royalty Pharma RPRX	New	0 → 21.4K +$755.0K
2 MoonLake Immunotherapeutics MLTX	New	0 → 67.5K +$484.0K
3 Kura Oncology KURA	New	0 → 46.0K +$407.1K
4 CMPS Compass Pathways CMPS	New	0 → 58.0K +$332.3K
5 Praxis Precision Medicines, Inc. PRAX	New	0 → 5.7K +$302.1K

Decreased Positions

Position	Shares Δ	Change
1 Ardelyx ARDX	-51.48%	335.4K → 162.8K −$951.3K
2 Mineralys Therapeutics, Inc. MLYS	-50.63%	79.0K → 39.0K −$1.5M
3 Kiniksa Pharmaceuticals International, plc KNSA	-49.02%	45.9K → 23.4K −$873.7K
4 BridgeBio Pharma BBIO	-48.85%	26.0K → 13.3K −$659.6K
5 Insmed INSM	-41.31%	10.7K → 6.3K −$633.6K

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Analytics

Portfolio insights and performance metrics for Lion Point Capital, LP

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Sector Allocation

Healthcare

98.10%

Market Cap Distribution

Large Cap ($10B - $200B)

9.40%

Mid Cap ($2B - $10B)

25.25%

Small Cap ($300M - $2B)

39.07%

Micro Cap ($50M - $300M)

23.20%

Nano Cap (< $50M)

1.19%

N/A (ETF or Unknown)

1.89%

Portfolio Concentration

Top 10 Holdings %

58.11%

Top 20 Holdings %

91.11%

Top 50 Holdings %

100.0%

Top 100 Holdings %