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Soleus Capital Management Portfolio holdings

AUM $2.47B
1-Year Est. Return 115.63%
This Fund
S&P 500
This Quarter Est. Return
+57.12%
1 Year Est. Return
+115.63%
3 Year Est. Return
+435.52%
5 Year Est. Return
+604.31%
10 Year Est. Return
–
AUM
$2.71B
AUM Growth
+$724M
Cap. Flow
-$65.9M
Cap. Flow %
-2.43%
Top 10 Hldgs %
51.5%
Holding
120
New
32
Increased
23
Reduced
35
Closed
25

Top Buys

Rank Stock Value
1
DXCM icon
DexCom
DXCM
+$83.9M
2
GMED icon
Globus Medical
GMED
+$54M
3
CELC icon
Celcuity
CELC
+$51.7M
4
PODD icon
Insulet
PODD
+$46.9M
5
ALKS icon
Alkermes
ALKS
+$39.6M

Top Sells

Rank Stock Value
1
TERN
Terns Pharmaceuticals
TERN
+$183M
2
PRAX icon
Praxis Precision Medicines
PRAX
+$92.4M
3
ELV icon
Elevance Health
ELV
+$83.9M
4
CDTX
Cidara Therapeutics
CDTX
+$73.5M
5
UTHR icon
United Therapeutics
UTHR
+$41.9M

Sector Composition

Rank Sector Weight
1 Healthcare 86.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PCVX icon
26
Vaxcyte
PCVX
$8.07B
$28.1M 1.04%
+608,958
New +$27.2M
ALNY icon
27
Alnylam Pharmaceuticals
ALNY
$30.6B
$27.8M 1.03%
70,000
+54,750
+359% +$24.2M
INSP icon
28
Inspire Medical Systems
INSP
$1.73B
$27.6M 1.02%
299,399
-428,789
-59% -$41M
VCEL icon
29
Vericel Corp
VCEL
$2.32B
$27.5M 1.01%
764,000
+266,047
+53% +$9.77M
ARGX icon
30
argenx
ARGX
$54.3B
$26.7M 0.98%
31,726
-37,700
-54% -$32.3M
RAPT
31
DELISTED
RAPT Therapeutics
RAPT
$25.9M 0.95%
764,000
+226,097
+42% +$7.02M
NBIX icon
32
Neurocrine Biosciences
NBIX
$16.4B
$25M 0.92%
175,982
+37,982
+28% +$5.5M
KNSA icon
33
Kiniksa Pharmaceuticals
KNSA
$6.09B
$24.2M 0.89%
587,000
+437,000
+291% +$17.5M
FOCL
34
EDAP TMS S.A.
FOCL
$228M
$24M 0.89%
7,309,254
– –
TFX icon
35
Teleflex
TFX
$6.06B
$23.2M 0.86%
+190,000
New +$23M
NRIX icon
36
Nurix Therapeutics
NRIX
$2.61B
$23.1M 0.85%
1,219,394
-1,203,439
-50% -$17.3M
EWTX icon
37
Edgewise Therapeutics
EWTX
$4.84B
$22.6M 0.83%
+910,000
New +$18.3M
IKT icon
38
Inhibikase Therapeutics
IKT
$377M
$22.3M 0.82%
10,875,000
+4,550,000
+72% +$7.24M
PHVS icon
39
Pharvaris
PHVS
$2.34B
$19.5M 0.72%
702,052
+55,000
+9% +$1.32M
IVVD icon
40
Invivyd
IVVD
$178M
$19M 0.7%
+7,708,727
New +$16M
CAPR icon
41
Capricor Therapeutics
CAPR
$228M
$18.7M 0.69%
+646,390
New +$8.44M
THC icon
42
Tenet Healthcare
THC
$21.1B
$18.4M 0.68%
+92,500
New +$18.7M
RCUS icon
43
Arcus Biosciences
RCUS
$3.48B
$17M 0.63%
+711,983
New +$14.5M
ELVN icon
44
Enliven Therapeutics
ELVN
$4.26B
$15.8M 0.58%
+1,025,000
New +$20.4M
MBX
45
MBX Biosciences
MBX
$3.21B
$12.9M 0.48%
408,900
+133,900
+49% +$3.25M
RIGL icon
46
Rigel Pharmaceuticals
RIGL
$749M
$12.9M 0.47%
300,034
-29,976
-9% -$1.13M
JBIO
47
Jade Biosciences
JBIO
$1.32B
$12.3M 0.45%
796,744
– –
TRVI icon
48
Trevi Therapeutics
TRVI
$2.65B
$11.3M 0.42%
900,000
+875,000
+3,500% +$10.1M
SION
49
Sionna Therapeutics
SION
$2.14B
$11M 0.41%
268,500
-145,000
-35% -$5.5M
SEPN
50
Septerna Inc
SEPN
$1.75B
$10.7M 0.39%
383,368
+365,108
+1,999% +$8.72M
1
2
3 4 5

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Soleus Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Soleus Capital Management held 120 positions worth $2.71B, up 36% from $1.99B the previous quarter. Its ten largest holdings account for 51% of the portfolio.

Soleus Capital Management's Q4 2025 filing shows 32 new, 23 increased, 35 reduced and 25 closed positions. Its largest new stake was DexCom: 1,297,094 shares worth $86.1M. The largest sale was Terns Pharmaceuticals, an estimated $183M.

By sector, the portfolio is most concentrated in Healthcare at 87% of assets, down from 94% a quarter earlier.

  • Soleus Capital Management's largest Q4 2025 buy was DexCom: 1,297,094 shares worth $86.1M.
  • Soleus Capital Management added most to Globus Medical in Q4 2025, an estimated $54M increase.
  • Soleus Capital Management's biggest Q4 2025 reduction was Terns Pharmaceuticals, cutting an estimated $183M.
  • Soleus Capital Management fully exited Elevance Health in Q4 2025, selling an estimated $83.9M.
  • Soleus Capital Management's ten largest holdings make up 51% of its $2.71B portfolio in Q4 2025.
  • Soleus Capital Management opened 32 new positions and closed 25 in Q4 2025.
  • Soleus Capital Management's portfolio value rose 36% quarter-over-quarter to $2.71B.

Based on Soleus Capital Management's 13F filing for Q4 2025, filed 12 Feb 2026.