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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
+32.58%
1 Year Est. Return
+115.63%
3 Year Est. Return
+435.52%
5 Year Est. Return
+604.31%
10 Year Est. Return
–
AUM
$1.99B
AUM Growth
+$476M
Cap. Flow
+$118M
Cap. Flow %
5.96%
Top 10 Hldgs %
48.1%
Holding
113
New
18
Increased
27
Reduced
34
Closed
25

Top Buys

Rank Stock Value
1
INSP icon
Inspire Medical Systems
INSP
+$62.7M
2
ELV icon
Elevance Health
ELV
+$59M
3
TGTX icon
TG Therapeutics
TGTX
+$52.7M
4
TWST icon
Twist Bioscience
TWST
+$45.8M
5
NVCR icon
NovoCure
NVCR
+$36.6M

Top Sells

Rank Stock Value
1
CELC icon
Celcuity
CELC
+$73.4M
2
STAA icon
STAAR Surgical
STAA
+$59.2M
3
ALNY icon
Alnylam Pharmaceuticals
ALNY
+$37.3M
4
GRFS
Grifois
GRFS
+$32.5M
5
URGN icon
UroGen Pharma
URGN
+$27M

Sector Composition

Rank Sector Weight
1 Healthcare 94.2%
2 Consumer Staples 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KRYS icon
1
Krystal Biotech
KRYS
$9.88B
$180M 9.05%
1,018,831
+95,873
+10% +$14.4M
TGTX icon
2
TG Therapeutics
TGTX
$8.58B
$139M 6.99%
3,844,731
+1,600,796
+71% +$52.7M
NVCR icon
3
NovoCure
NVCR
$2.04B
$125M 6.27%
9,644,872
+2,740,570
+40% +$36.6M
XBI icon
4
PUT
State Street SPDR S&P Biotech ETF
XBI
$10.2B
$115M 5.8%
1,150,000
+400,000
+53% +$36M
ELV icon
5
Elevance Health
ELV
$81.9B
$83.9M 4.22%
259,650
+189,650
+271% +$59M
BBNX
6
Beta Bionics
BBNX
$706M
$76.9M 3.87%
3,870,158
+50,000
+1% +$879K
UTHR icon
7
United Therapeutics
UTHR
$26.3B
$62.9M 3.17%
150,000
-59,794
-29% -$20.1M
TERN
8
DELISTED
Terns Pharmaceuticals
TERN
$61M 3.07%
8,127,100
-40,000
-0.5% -$255K
CELC icon
9
Celcuity
CELC
$4.03B
$58.2M 2.93%
1,178,860
-1,832,958
-61% -$73.4M
INSP icon
10
Inspire Medical Systems
INSP
$1.42B
$54M 2.72%
728,188
+619,188
+568% +$62.7M
TWST icon
11
Twist Bioscience
TWST
$5.62B
$52.5M 2.64%
1,866,234
+1,511,833
+427% +$45.8M
ARGX icon
12
argenx
ARGX
$57.4B
$51.2M 2.58%
69,426
+26,550
+62% +$17.5M
ORGO icon
13
Organogenesis Holdings
ORGO
$308M
$51.2M 2.58%
12,131,699
-211,652
-2% -$984K
BMRN icon
14
BioMarin Pharmaceuticals
BMRN
$11.5B
$48.2M 2.43%
890,304
-12,000
-1% -$686K
CDTX
15
DELISTED
Cidara Therapeutics
CDTX
$47.3M 2.38%
493,811
+31,000
+7% +$1.98M
PRAX icon
16
Praxis Precision Medicines
PRAX
$9.07B
$45.5M 2.29%
859,166
-107,574
-11% -$5.22M
FOLD
17
DELISTED
Amicus Therapeutics
FOLD
$37M 1.86%
+4,690,000
New +$33.4M
INDV icon
18
Indivior Pharmaceuticals
INDV
$4.79B
$35.3M 1.78%
+1,466,000
New +$30.7M
MDGL icon
19
Madrigal Pharmaceuticals
MDGL
$12.6B
$31.3M 1.58%
68,336
+60,336
+754% +$22.5M
ANIP icon
20
ANI Pharmaceuticals
ANIP
$1.77B
$31.2M 1.57%
340,243
+289,500
+571% +$23.6M
SNDX icon
21
Syndax Pharmaceuticals
SNDX
$1.84B
$31M 1.56%
2,012,110
+920,000
+84% +$12M
AXGN icon
22
Axogen
AXGN
$2.1B
$30.8M 1.55%
1,726,553
+267,158
+18% +$3.88M
NPCE icon
23
Neuropace
NPCE
$505M
$30.5M 1.54%
2,957,957
+645,000
+28% +$6.08M
GRFS
24
Grifois
GRFS
$5.16B
$24.9M 1.25%
2,500,000
-3,256,805
-57% -$32.5M
GERN icon
25
Geron
GERN
$911M
$23.7M 1.19%
17,290,000
+1,150,000
+7% +$1.53M
1
2 3 4 5

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Soleus Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Soleus Capital Management held 113 positions worth $1.99B, up 32% from $1.51B the previous quarter. Its ten largest holdings account for 48% of the portfolio.

Soleus Capital Management deployed $118M of net new capital in Q3 2025, opening 18 new positions and adding to 27 existing holdings. Its largest new stake was Amicus Therapeutics: 4,690,000 shares worth $37M.

By sector, the portfolio is most concentrated in Healthcare at 94% of assets, down from 96% a quarter earlier, followed by Consumer Staples.

On the sell side, the largest reduction was Celcuity, an estimated $73.4M trimmed.

  • Soleus Capital Management's largest Q3 2025 buy was Amicus Therapeutics: 4,690,000 shares worth $37M.
  • Soleus Capital Management added most to Inspire Medical Systems in Q3 2025, an estimated $62.7M increase.
  • Soleus Capital Management's biggest Q3 2025 reduction was Celcuity, cutting an estimated $73.4M.
  • Soleus Capital Management fully exited UnitedHealth in Q3 2025, selling an estimated $26.9M.
  • Soleus Capital Management's ten largest holdings make up 48% of its $1.99B portfolio in Q3 2025.
  • Soleus Capital Management opened 18 new positions and closed 25 in Q3 2025.
  • Soleus Capital Management's portfolio value rose 32% quarter-over-quarter to $1.99B.

Based on Soleus Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.