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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
ZYME icon
76
Zymeworks
ZYME
$1.73B
$2.63M 0.1%
+100,000
New +$2.18M
VKTX icon
77
Viking Therapeutics
VKTX
$4B
$2.46M 0.09%
+70,000
New +$2.48M
QDEL icon
78
QuidelOrtho
QDEL
$838M
$2.14M 0.08%
75,000
-300,000
-80% -$8.13M
NSPR icon
79
InspireMD
NSPR
$34.7M
$2.05M 0.08%
1,150,000
-320,934
-22% -$669K
INBX icon
80
Inhibrx
INBX
$1.3B
$1.98M 0.07%
+25,000
New +$1.7M
ACLX
81
DELISTED
Arcellx
ACLX
$1.96M 0.07%
30,000
-70,000
-70% -$5.58M
OLMA icon
82
Olema Pharmaceuticals
OLMA
$1.05B
$1.75M 0.06%
69,874
-550,000
-89% -$9.79M
BCAX
83
Bicara Therapeutics
BCAX
$1.84B
$1.68M 0.06%
+100,000
New +$1.71M
KOD icon
84
Kodiak Sciences
KOD
$2.84B
$1.68M 0.06%
60,000
+40,356
+205% +$826K
GRAL
85
GRAIL Inc
GRAL
$2.98B
$941K 0.03%
+11,000
New +$950K
GUTS icon
86
Fractyl Health
GUTS
$111M
$880K 0.03%
400,000
-2,100,000
-84% -$3.38M
STAA icon
87
STAAR Surgical
STAA
$1.21B
$577K 0.02%
25,000
-475,000
-95% -$12.2M
VCYT icon
88
Veracyte
VCYT
$3.8B
$421K 0.02%
10,000
-412,055
-98% -$16.6M
JSPR icon
89
Jasper Therapeutics
JSPR
$23.6M
$366K 0.01%
200,000
-1,294,420
-87% -$2.6M
QNRX
90
Quoin Pharmaceuticals
QNRX
$9.62M
$361K 0.01%
+25,000
New +$340K
MDGL icon
91
Madrigal Pharmaceuticals
MDGL
$11.8B
$291K 0.01%
500
-67,836
-99% -$34.6M
LBRX
92
LB Pharmaceuticals
LBRX
$1.38B
$223K 0.01%
10,000
-390,000
-98% -$6.81M
DYN icon
93
Dyne Therapeutics
DYN
$4.9B
$196K 0.01%
+10,000
New +$189K
DCTH icon
94
Delcath Systems
DCTH
$522M
$101K ﹤0.01%
10,000
– –
TNGX icon
95
Tango Therapeutics
TNGX
$4.41B
$88.6K ﹤0.01%
10,000
-290,000
-97% -$2.5M
ADMA icon
96
ADMA Biologics
ADMA
$2.22B
– –
-738,000
Closed -$10.8M
ADVM
97
DELISTED
Adverum Biotechnologies
ADVM
– –
-287,246
Closed -$1.3M
AKRO
98
DELISTED
Akero Therapeutics
AKRO
– –
-71,000
Closed -$3.37M
ELV icon
99
Elevance Health
ELV
$85.5B
– –
-259,650
Closed -$83.9M
EPIX
100
DELISTED
ESSA Pharma
EPIX
– –
-4,362,026
Closed -$833K
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.