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SCM

Soleus Capital Management Portfolio holdings

AUM $2.9B
1-Year Est. Return 169.69%
This Fund
S&P 500
This Quarter Est. Return
+57.12%
1 Year Est. Return
+169.69%
3 Year Est. Return
+507.65%
5 Year Est. Return
+746.04%
10 Year Est. Return
–
AUM
$2.71B
AUM Growth
+$724M
Cap. Flow
-$267M
Cap. Flow %
-9.83%
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%
2 Miscellaneous 13.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
XBI icon
1
PUT
State Street SPDR S&P Biotech ETF
XBI
$11.1B
$354M 13.04%
2,900,000
+1,750,000
+152% +$201M
KRYS icon
2
Krystal Biotech
KRYS
$10.3B
$232M 8.56%
941,059
-77,772
-8% -$16.4M
CELC icon
3
Celcuity
CELC
$4.41B
$180M 6.65%
1,808,258
+629,398
+53% +$51.7M
NVCR icon
4
NovoCure
NVCR
$1.82B
$110M 4.07%
8,530,665
-1,114,207
-12% -$14.3M
PRAX icon
5
Praxis Precision Medicines
PRAX
$9.64B
$107M 3.95%
362,966
-496,200
-58% -$92.4M
TGTX icon
6
TG Therapeutics
TGTX
$8.37B
$93.6M 3.45%
3,139,312
-705,419
-18% -$23M
DXCM icon
7
DexCom
DXCM
$31.7B
$86.1M 3.18%
+1,297,094
New +$83.9M
BMRN icon
8
BioMarin Pharmaceuticals
BMRN
$12.5B
$78.4M 2.89%
1,320,000
+429,696
+48% +$23.4M
GMED icon
9
Globus Medical
GMED
$10B
$77.4M 2.86%
887,000
+711,000
+404% +$54M
BBNX
10
Beta Bionics
BBNX
$784M
$77.2M 2.85%
2,534,565
-1,335,593
-35% -$35.7M
FOLD
11
DELISTED
Amicus Therapeutics
FOLD
$74.2M 2.74%
5,207,284
+517,284
+11% +$5.08M
TWST icon
12
Twist Bioscience
TWST
$8.26B
$59.1M 2.18%
1,861,802
-4,432
-0.2% -$138K
ORGO icon
13
Organogenesis Holdings
ORGO
$202M
$51.7M 1.91%
9,985,951
-2,145,748
-18% -$10.4M
SNDX icon
14
Syndax Pharmaceuticals
SNDX
$1.77B
$47.2M 1.74%
2,247,110
+235,000
+12% +$4.1M
MIRM icon
15
Mirum Pharmaceuticals
MIRM
$5.99B
$45.3M 1.67%
573,614
+424,918
+286% +$30.5M
PODD icon
16
Insulet
PODD
$9.57B
$42.6M 1.57%
+150,000
New +$46.9M
NPCE icon
17
Neuropace
NPCE
$498M
$41.7M 1.54%
2,703,208
-254,749
-9% -$3.41M
AXGN icon
18
Axogen
AXGN
$2.54B
$39.5M 1.46%
1,206,855
-519,698
-30% -$12.8M
ANIP icon
19
ANI Pharmaceuticals
ANIP
$1.62B
$38.4M 1.42%
486,243
+146,000
+43% +$12.6M
ALKS icon
20
Alkermes
ALKS
$7.62B
$37M 1.36%
+1,322,364
New +$39.6M
LIVN icon
21
LivaNova
LIVN
$4.35B
$34.9M 1.29%
+567,500
New +$32.4M
GSK icon
22
GSK
GSK
$97.4B
$31.3M 1.16%
639,000
+419,000
+190% +$19.5M
GERN icon
23
Geron
GERN
$899M
$30.7M 1.13%
23,290,000
+6,000,000
+35% +$7.53M
UTHR icon
24
United Therapeutics
UTHR
$21.7B
$29.2M 1.08%
60,000
-90,000
-60% -$41.9M
IMVT icon
25
Immunovant
IMVT
$8B
$28.2M 1.04%
+1,110,000
New +$24.8M
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 withdrew a net $267M in Q4 2025, closing 25 positions and reducing 35 holdings. Its most notable exit was Elevance Health, an estimated $83.9M position sold in full.

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

Against the trend, Soleus Capital Management opened a new position in DexCom worth $86.1M.

  • 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.