Soleus Capital Management, L.P.

CIK

1802630

Location

GREENWICH, CT

Portfolio Value

Mid $2,514,062,477

Diversification

Diversified

Filing Date

Global Rank

#1,056 / 8,603 ▲ 60 · as of Mar 2026

Top Industry

Biotechnology 56.6%

3Y Alpha vs SPY

+9.6%

Period ended 3 months ago

Filed May 14, 2026 · 56d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+47.4%

SPY

+76.5%

Annualised alpha

-7.0%

Max drawdown

−51.5%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

93 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

11.8%

+1.8 pts

Top 5

32.2%

+1.0 pts

Top 10

49.4%

+1.3 pts

HHI

371

Diversified+27

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	100.0%	$2,514,062,477	93

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
GERN	Geron Corp	+18,218,659	41,508,659	$61,847,901
CERS	Cerus Corp	+6,753,700	10,753,700	$19,571,734
NVCR	NovoCure Ltd	+1,961,726	10,492,391	$114,367,061
BBNX	Beta Bionics, Inc.	+1,819,936	4,354,501	$43,632,100
VCEL	Vericel Corp	+1,785,079	2,549,079	$82,003,871
EOLS	Evolus, Inc.	+1,175,360	2,245,360	$9,228,429
TGTX	Tg Therapeutics, Inc.	+890,007	4,029,319	$133,853,977
LUNG	Pulmonx Corp	+750,000	2,788,323	$3,596,936
TRVI	Trevi Therapeutics, Inc.	+720,000	1,620,000	$19,326,600
ALKS	Alkermes plc.	+648,500	1,970,864	$69,689,751
URGN	UroGen Pharma Ltd.	+577,000	727,000	$13,071,460
EWTX	Edgewise Therapeutics, Inc.	+539,915	1,449,915	$45,672,322
TNGX	Tango Therapeutics, Inc.	+440,000	450,000	$9,414,000
PODD	Insulet Corp	+412,500	562,500	$118,035,000
ANIP	Ani Pharmaceuticals Inc	+334,000	820,243	$63,076,686
VCYT	Veracyte, Inc.	+309,912	319,912	$10,304,365
INSP	Inspire Medical Systems, Inc.	+276,900	576,299	$29,725,502
NPCE	NeuroPace Inc	+228,999	2,932,207	$38,558,522
KRYS	Krystal Biotech, Inc.	+212,028	1,153,087	$297,865,433
UTHR	UNITED THERAPEUTICS Corp	+127,187	187,187	$110,998,147
INBX	Inhibrx Biosciences, Inc.	+106,000	131,000	$8,807,130
ORGO	Organogenesis Holdings Inc.	+100,000	10,085,951	$23,903,703
NTRA	Natera, Inc.	+99,000	119,000	$23,798,810
KIDS	Orthopediatrics Corp	+90,000	615,447	$9,767,143
JSPR	Jasper Therapeutics, Inc.	+76,312	276,312	$242,049
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
DXCM	Dexcom Inc	−1,157,094	140,000	$8,792,000
IMVT	Immunovant, Inc.	−880,000	230,000	$5,713,200
ELVN	Enliven Therapeutics, Inc.	−794,131	230,869	$9,050,064
BMRN	Biomarin Pharmaceutical Inc	−669,428	650,572	$36,750,812
TWST	Twist Bioscience Corp	−635,173	1,226,629	$58,289,410
AXGN	Axogen, Inc.	−527,685	679,170	$22,500,902
CELC	Celcuity Inc.	−523,880	1,284,378	$146,598,904
SNDX	Syndax Pharmaceuticals Inc	−520,202	1,726,908	$40,340,570
RIGL	Rigel Pharmaceuticals Inc	−290,034	10,000	$270,400
NRIX	Nurix Therapeutics, Inc.	−281,231	938,163	$14,541,526
RCUS	Arcus Biosciences, Inc.	−260,000	451,983	$9,762,832
NEO	Neogenomics Inc	−252,504	175,000	$1,298,500
MBX	MBX Biosciences, Inc.	−230,003	178,897	$5,340,075
PCVX	Vaxcyte, Inc.	−223,486	385,472	$22,399,777
ORKA	Oruka Therapeutics, Inc.	−185,000	5,000	$245,250
MIRM	Mirum Pharmaceuticals, Inc.	−173,308	400,306	$36,980,268
GMED	Globus Medical Inc	−157,533	729,467	$62,850,876
CGON	CG Oncology, Inc.	−150,000	20,000	$1,353,600
ANAB	Anaptysbio, Inc	−129,000	6,000	$221,839
TYRA	Tyra Biosciences, Inc.	−115,000	10,000	$383,000
COGT	Cogent Biosciences, Inc.	−110,000	10,000	$384,900
SEPN	Septerna, Inc.	−108,368	275,000	$6,608,250
NSPR	InspireMD, Inc.	−104,292	1,045,708	$1,704,504
ZYME	Zymeworks Inc.	−90,000	10,000	$250,400
KNSA	Kiniksa Pharmaceuticals International, plc	−65,647	521,353	$25,103,146
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
IMUX	Immunic, Inc.	4,500,000	$49,950,000
INDV	Indivior Pharmaceuticals, Inc.	1,274,000	$38,831,520
PGNY	Progyny, Inc.	2,067,000	$35,097,660
MRK	Merck & Co., Inc.	203,000	$24,418,870
ICLR	Icon PLC	192,000	$21,246,720
CNTX	Context Therapeutics Inc.	6,963,141	$18,243,429
VIR	Vir Biotechnology, Inc.	2,002,000	$17,937,920
XENE	Xenon Pharmaceuticals Inc.	292,000	$16,979,800
TVTX	Travere Therapeutics, Inc.	546,000	$16,221,660
TNDM	Tandem Diabetes Care Inc	783,000	$15,010,110
CORT	Corcept Therapeutics Inc	285,531	$11,509,754
SOPH	SOPHiA GENETICS SA	1,850,000	$9,157,500
BDSX	Biodesix Inc	416,599	$6,040,685
RLMD	Relmada Therapeutics, Inc.	842,106	$5,861,057
CGEM	Cullinan Therapeutics, Inc.	410,200	$5,828,942
LRMR	Larimar Therapeutics, Inc.	1,066,960	$4,801,320
ETON	Eton Pharmaceuticals, Inc.	166,381	$4,106,283
SABS	SAB Biotherapeutics, Inc.	1,050,000	$4,021,500
PRCT	PROCEPT BioRobotics Corp	160,000	$4,001,600
TECX	Tectonic Therapeutic, Inc.	121,684	$3,761,252
IOVA	Iovance Biotherapeutics, Inc.	1,000,000	$3,510,000
MSLE	Satellos Bioscience Inc.	414,359	$2,332,841
ARWR	Arrowhead Pharmaceuticals, Inc.	28,479	$1,785,633
CTMX	CytomX Therapeutics, Inc.	300,000	$1,410,000
RAPP	Rapport Therapeutics, Inc.	10,000	$312,900
No positions match the current search.

Sold Out

Positions the filer fully exited

23 positions

Ticker	Company	Shares	Value
FOLD	AMICUS THERAPEUTICS, INC.	5,207,284	$74,151,724
GSK	GSK plc	639,000	$31,336,560
NBIX	Neurocrine Biosciences Inc	175,982	$24,959,527
TFX	Teleflex Inc	190,000	$23,187,600
CAPR	Capricor Therapeutics, Inc.	646,390	$18,654,815
THC	Tenet Healthcare Corp	92,500	$18,381,600
TERN	Terns Pharmaceuticals, Inc.	212,710	$8,593,484
ERAS	Erasca, Inc.	2,162,162	$8,043,242
BLTE	Belite Bio, Inc	40,354	$6,455,025
ABVX	Abivax S.A.	45,000	$6,068,475
MLTX	MoonLake Immunotherapeutics	400,000	$5,272,000
CALC	CalciMedica, Inc.	683,904	$4,506,927
VKTX	Viking Therapeutics, Inc.	70,000	$2,462,600
QDEL	QuidelOrtho Corp	75,000	$2,142,000
ACLX	Arcellx, Inc.	30,000	$1,956,000
OLMA	Olema Pharmaceuticals, Inc.	69,874	$1,746,850
BCAX	Bicara Therapeutics Inc.	100,000	$1,683,000
KOD	Kodiak Sciences Inc.	60,000	$1,677,600
GRAL	GRAIL, Inc.	11,000	$941,490
GUTS	Fractyl Health, Inc.	400,000	$880,000
MDGL	Madrigal Pharmaceuticals, Inc.	500	$291,170
DYN	Dyne Therapeutics, Inc.	10,000	$195,600
DCTH	Delcath Systems, Inc.	10,000	$101,000
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

93 positions · $2,514,062,477 total · as of Mar 31, 2026

All sectors Healthcare

Showing 1–50 of 93 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
KRYS	Krystal Biotech, Inc. Healthcare	Added	1,153,087	+212,028	$297,865,433	+28.4%	11.85%
CELC	Celcuity Inc. Healthcare	Reduced	1,284,378	-523,880	$146,598,904	−18.7%	5.83%
TGTX	Tg Therapeutics, Inc. Healthcare	Added	4,029,319	+890,007	$133,853,977	+43.0%	5.32%
PODD	Insulet Corp Healthcare	Added	562,500	+412,500	$118,035,000	+176.8%	4.69%
NVCR	NovoCure Ltd Healthcare	Added	10,492,391	+1,961,726	$114,367,061	+3.7%	4.55%
UTHR	UNITED THERAPEUTICS Corp Healthcare	Added	187,187	+127,187	$110,998,147	+279.7%	4.42%
PRAX	Praxis Precision Medicines, Inc. Healthcare	Reduced	330,517	-32,449	$106,489,272	−0.5%	4.24%
VCEL	Vericel Corp Healthcare	Added	2,549,079	+1,785,079	$82,003,871	+198.1%	3.26%
ALKS	Alkermes plc. Healthcare	Added	1,970,864	+648,500	$69,689,751	+88.4%	2.77%
ANIP	Ani Pharmaceuticals Inc Healthcare	Added	820,243	+334,000	$63,076,686	+64.3%	2.51%
GMED	Globus Medical Inc Healthcare	Reduced	729,467	-157,533	$62,850,876	−18.8%	2.50%
GERN	Geron Corp Healthcare	Added	41,508,659	+18,218,659	$61,847,901	+101.2%	2.46%
TWST	Twist Bioscience Corp Healthcare	Reduced	1,226,629	-635,173	$58,289,410	−1.3%	2.32%
IMUX	Immunic, Inc. Healthcare	NEW	4,500,000	NEW	$49,950,000	NEW	1.99%
EWTX	Edgewise Therapeutics, Inc. Healthcare	Added	1,449,915	+539,915	$45,672,322	+102.3%	1.82%
BBNX	Beta Bionics, Inc. Healthcare	Added	4,354,501	+1,819,936	$43,632,100	−43.5%	1.74%
ALNY	Alnylam Pharmaceuticals, Inc. Healthcare	Added	131,650	+61,650	$43,559,035	+56.5%	1.73%
SNDX	Syndax Pharmaceuticals Inc Healthcare	Reduced	1,726,908	-520,202	$40,340,570	−14.6%	1.60%
INDV	Indivior Pharmaceuticals, Inc. Healthcare	NEW	1,274,000	NEW	$38,831,520	NEW	1.54%
NPCE	NeuroPace Inc Healthcare	Added	2,932,207	+228,999	$38,558,522	−7.6%	1.53%
LIVN	LivaNova PLC Healthcare	Added	582,500	+15,000	$37,023,700	+6.0%	1.47%
MIRM	Mirum Pharmaceuticals, Inc. Healthcare	Reduced	400,306	-173,308	$36,980,268	−18.4%	1.47%
BMRN	Biomarin Pharmaceutical Inc Healthcare	Reduced	650,572	-669,428	$36,750,812	−53.2%	1.46%
PGNY	Progyny, Inc. Healthcare	NEW	2,067,000	NEW	$35,097,660	NEW	1.40%
INSP	Inspire Medical Systems, Inc. Healthcare	Added	576,299	+276,900	$29,725,502	+7.6%	1.18%
FOCL	Edap Tms SA Healthcare	Held	7,309,254	0	$27,190,424	+13.1%	1.08%
KNSA	Kiniksa Pharmaceuticals International, plc Healthcare	Reduced	521,353	-65,647	$25,103,146	+3.7%	1.00%
MRK	Merck & Co., Inc. Healthcare	NEW	203,000	NEW	$24,418,870	NEW	0.97%
ORGO	Organogenesis Holdings Inc. Healthcare	Added	10,085,951	+100,000	$23,903,703	−53.8%	0.95%
NTRA	Natera, Inc. Healthcare	Added	119,000	+99,000	$23,798,810	+419.4%	0.95%
AXGN	Axogen, Inc. Healthcare	Reduced	679,170	-527,685	$22,500,902	−43.0%	0.90%
PCVX	Vaxcyte, Inc. Healthcare	Reduced	385,472	-223,486	$22,399,777	−20.3%	0.89%
ICLR	Icon PLC Healthcare	NEW	192,000	NEW	$21,246,720	NEW	0.85%
PHVS	Pharvaris N.V. Healthcare	Held	702,052	0	$19,832,969	+1.8%	0.79%
CERS	Cerus Corp Healthcare	Added	10,753,700	+6,753,700	$19,571,734	+137.5%	0.78%
TRVI	Trevi Therapeutics, Inc. Healthcare	Added	1,620,000	+720,000	$19,326,600	+71.5%	0.77%
IKT	Inhibikase Therapeutics, Inc. Healthcare	Held	10,875,000	0	$18,270,000	−18.0%	0.73%
CNTX	Context Therapeutics Inc. Healthcare	NEW	6,963,141	NEW	$18,243,429	NEW	0.73%
VIR	Vir Biotechnology, Inc. Healthcare	NEW	2,002,000	NEW	$17,937,920	NEW	0.71%
XENE	Xenon Pharmaceuticals Inc. Healthcare	NEW	292,000	NEW	$16,979,800	NEW	0.68%
TVTX	Travere Therapeutics, Inc. Healthcare	NEW	546,000	NEW	$16,221,660	NEW	0.65%
TNDM	Tandem Diabetes Care Inc Healthcare	NEW	783,000	NEW	$15,010,110	NEW	0.60%
NRIX	Nurix Therapeutics, Inc. Healthcare	Reduced	938,163	-281,231	$14,541,526	−37.1%	0.58%
URGN	UroGen Pharma Ltd. Healthcare	Added	727,000	+577,000	$13,071,460	+272.1%	0.52%
SION	Sionna Therapeutics, Inc. Healthcare	Added	293,500	+25,000	$11,766,415	+6.5%	0.47%
CORT	Corcept Therapeutics Inc Healthcare	NEW	285,531	NEW	$11,509,754	NEW	0.46%
JBIO	Jade Biosciences, Inc. Healthcare	Held	796,744	0	$11,194,253	−8.9%	0.45%
VCYT	Veracyte, Inc. Healthcare	Added	319,912	+309,912	$10,304,365	+2347.6%	0.41%
IVVD	Invivyd, Inc. Healthcare	Held	7,708,727	0	$10,021,345	−47.4%	0.40%
CCCC	C4 Therapeutics, Inc. Healthcare	Held	3,803,942	0	$10,004,367	+37.7%	0.40%