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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
+0.86%
1 Year Est. Return
+115.63%
3 Year Est. Return
+435.52%
5 Year Est. Return
+604.31%
10 Year Est. Return
–
AUM
$1.51B
AUM Growth
+$121M
Cap. Flow
+$179M
Cap. Flow %
11.83%
Top 10 Hldgs %
46.72%
Holding
103
New
28
Increased
19
Reduced
27
Closed
8

Top Buys

Rank Stock Value
1
KRYS icon
Krystal Biotech
KRYS
+$70.7M
2
UNH icon
UnitedHealth
UNH
+$33M
3
ALNY icon
Alnylam Pharmaceuticals
ALNY
+$29.5M
4
ELV icon
Elevance Health
ELV
+$28.2M
5
JBIO
Jade Biosciences
JBIO
+$27.1M

Top Sells

Rank Stock Value
1
TGTX icon
TG Therapeutics
TGTX
+$22.4M
2
HOLX
Hologic
HOLX
+$18.7M
3
MDGL icon
Madrigal Pharmaceuticals
MDGL
+$17.7M
4
MRUS
Merus
MRUS
+$16.3M
5
INSM icon
Insmed
INSM
+$15.4M

Sector Composition

Rank Sector Weight
1 Healthcare 95.75%
2 Consumer Staples 0.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KRYS icon
1
Krystal Biotech
KRYS
$9.88B
$127M 8.4%
922,958
+481,200
+109% +$70.7M
NVCR icon
2
NovoCure
NVCR
$2.04B
$123M 8.14%
6,904,302
+1,382,888
+25% +$24.1M
TGTX icon
3
TG Therapeutics
TGTX
$8.58B
$80.8M 5.35%
2,243,935
-602,768
-21% -$22.4M
XBI icon
4
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.2B
$62.2M 4.12%
+750,000
New +$59.8M
UTHR icon
5
United Therapeutics
UTHR
$26.3B
$60.3M 3.99%
209,794
+54,400
+35% +$16.3M
BBNX
6
Beta Bionics
BBNX
$706M
$55.6M 3.68%
3,820,158
+424,817
+13% +$6.01M
GRFS
7
Grifois
GRFS
$5.16B
$52M 3.45%
5,756,805
-1,333,017
-19% -$10.4M
STAA icon
8
STAAR Surgical
STAA
$1.16B
$50.1M 3.32%
2,984,733
+421,840
+16% +$7.44M
BMRN icon
9
BioMarin Pharmaceuticals
BMRN
$11.5B
$49.6M 3.28%
902,304
-177,000
-16% -$10.4M
ORGO icon
10
Organogenesis Holdings
ORGO
$308M
$45.2M 2.99%
12,343,351
-135,000
-1% -$503K
PRAX icon
11
Praxis Precision Medicines
PRAX
$9.07B
$40.7M 2.69%
966,740
-173,000
-15% -$6.59M
CELC icon
12
Celcuity
CELC
$4.03B
$40.2M 2.66%
3,011,818
+437,696
+17% +$4.77M
ALNY icon
13
Alnylam Pharmaceuticals
ALNY
$36.3B
$34.8M 2.31%
+106,750
New +$29.5M
TERN
14
DELISTED
Terns Pharmaceuticals
TERN
$30.5M 2.02%
8,167,100
– –
URGN icon
15
UroGen Pharma
URGN
$2B
$29.9M 1.98%
+2,185,000
New +$21M
NRIX icon
16
Nurix Therapeutics
NRIX
$2.43B
$27.6M 1.83%
2,422,833
– –
ELV icon
17
Elevance Health
ELV
$81.9B
$27.2M 1.8%
+70,000
New +$28.2M
UNH icon
18
UnitedHealth
UNH
$382B
$26.9M 1.78%
+86,250
New +$33M
NPCE icon
19
Neuropace
NPCE
$505M
$25.8M 1.71%
2,312,957
-295,211
-11% -$3.69M
ARGX icon
20
argenx
ARGX
$57.4B
$23.6M 1.57%
42,876
+13,936
+48% +$8.09M
SRDX
21
DELISTED
Surmodics
SRDX
$23.4M 1.55%
789,060
– –
GERN icon
22
Geron
GERN
$911M
$22.8M 1.51%
16,140,000
+13,740,000
+573% +$19.5M
CDTX
23
DELISTED
Cidara Therapeutics
CDTX
$22.5M 1.49%
+462,811
New +$11.1M
EOLS icon
24
Evolus
EOLS
$394M
$19.5M 1.29%
2,119,000
+1,039,842
+96% +$10.6M
HUM icon
25
Humana
HUM
$46.7B
$19.5M 1.29%
+79,600
New +$19.8M
1
2 3 4 5

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Soleus Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Soleus Capital Management held 103 positions worth $1.51B, up 8.7% from $1.39B the previous quarter. Its ten largest holdings account for 47% of the portfolio.

Soleus Capital Management deployed $179M of net new capital in Q2 2025, opening 28 new positions and adding to 19 existing holdings. Its largest new stake was UnitedHealth: 86,250 shares worth $26.9M.

By sector, the portfolio is most concentrated in Healthcare at 96% of assets, up from 92% a quarter earlier, followed by Consumer Staples.

On the sell side, the largest reduction was TG Therapeutics, an estimated $22.4M trimmed.

  • Soleus Capital Management's largest Q2 2025 buy was UnitedHealth: 86,250 shares worth $26.9M.
  • Soleus Capital Management added most to Krystal Biotech in Q2 2025, an estimated $70.7M increase.
  • Soleus Capital Management's biggest Q2 2025 reduction was TG Therapeutics, cutting an estimated $22.4M.
  • Soleus Capital Management fully exited Hologic in Q2 2025, selling an estimated $18.7M.
  • Soleus Capital Management's ten largest holdings make up 47% of its $1.51B portfolio in Q2 2025.
  • Soleus Capital Management opened 28 new positions and closed 8 in Q2 2025.
  • Soleus Capital Management's portfolio value rose 8.7% quarter-over-quarter to $1.51B.

Based on Soleus Capital Management's 13F filing for Q2 2025, filed 15 Aug 2025.