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SCM
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
(+36%)
Cap. Flow
-$65.9M
Cap. Flow
% of AUM
-2.43%
Top 10 Holdings %
Top 10 Hldgs %
51.5%
Holding
120
New
32
Increased
23
Reduced
35
Closed
25
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
DexCom
DXCM
|
+$83.9M |
| 2 |
Globus Medical
GMED
|
+$54M |
| 3 |
Celcuity
CELC
|
+$51.7M |
| 4 |
Insulet
PODD
|
+$46.9M |
| 5 |
Alkermes
ALKS
|
+$39.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
TERN
Terns Pharmaceuticals
TERN
|
+$183M |
| 2 |
Praxis Precision Medicines
PRAX
|
+$92.4M |
| 3 |
Elevance Health
ELV
|
+$83.9M |
| 4 |
CDTX
Cidara Therapeutics
CDTX
|
+$73.5M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
101
Establishment Labs
ESTA
$2.33B
| – | – |
-139,512
| Closed | -$5.72M |
|
102
Eton Pharmaceutcials
ETON
$1.26B
| – | – |
-200,000
| Closed | -$4.35M |
|
|
CBIO
103
Crescent Biopharma
CBIO
$610M
| – | – |
-200,000
| Closed | -$2.38M |
|
|
GRFS
104
Grifois
GRFS
$5.33B
| – | – |
-2,500,000
| Closed | -$24.9M |
|
105
Harrow
HROW
$1.49B
| – | – |
-85,498
| Closed | -$4.12M |
|
106
Integra LifeSciences
IART
$1.33B
| – | – |
-1,440,818
| Closed | -$20.6M |
|
107
IDEAYA Biosciences
IDYA
$3.49B
| – | – |
-100,000
| Closed | -$2.72M |
|
108
Immunic
IMUX
$198M
| – | – |
-158,001
| Closed | -$1.39M |
|
109
Iovance Biotherapeutics
IOVA
$2.77B
| – | – |
-976,707
| Closed | -$2.12M |
|
110
Liquidia Corp
LQDA
$7.95B
| – | – |
-50,000
| Closed | -$1.14M |
|
111
MannKind Corp
MNKD
$1.24B
| – | – |
-300,000
| Closed | -$1.61M |
|
|
MREO
112
Mereo BioPharma
MREO
$48.8M
| – | – |
-299,711
| Closed | -$617K |
|
113
Myomo
MYO
$50.6M
| – | – |
-704,275
| Closed | -$628K |
|
|
NUVL
114
DELISTED
Nuvalent
NUVL
| – | – |
-88,000
| Closed | -$7.61M |
|
115
uniQure
QURE
$3.15B
| – | – |
-200,000
| Closed | -$11.7M |
|
116
Verastem
VSTM
$519M
| – | – |
-935,909
| Closed | -$8.26M |
|
117
VistaGen Therapeutics
VTGN
$12.6M
| – | – |
-550,000
| Closed | -$1.95M |
|
|
RAPP
118
Rapport Therapeutics
RAPP
$2.22B
| – | – |
-80,000
| Closed | -$2.38M |
|
|
TECX
119
Tectonic Therapeutic
TECX
$570M
| – | – |
-25,000
| Closed | -$392K |
|
|
CBLL
120
CeriBell Inc
CBLL
$692M
| – | – |
-360,000
| Closed | -$4.14M |
|
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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.