# Soleus Capital Management, L.P.

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1802630. Source: https://holderbook.com/funds/1802630-soleus-capital-management-l-p/

- Reported value: $2.9B
- Positions: 97
- Weight of the ten largest: 48.9%
- Filed: 2026-08-11

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| KRYSTAL BIOTECH INC | [KRYS](https://holderbook.com/stocks/KRYS/) | $349.1M | 939,254 | 12.0% | 23 |
| CELCUITY INC | [CELC](https://holderbook.com/stocks/CELC/) | $178.3M | 1,704,318 | 6.1% | 21 |
| TG THERAPEUTICS INC | [TGTX](https://holderbook.com/stocks/TGTX/) | $160.9M | 2,927,895 | 5.5% | 15 |
| INSULET CORP | [PODD](https://holderbook.com/stocks/PODD/) | $159.7M | 1,049,000 | 5.5% | 3 |
| NOVOCURE LTD | [NVCR](https://holderbook.com/stocks/NVCR/) | $150.2M | 9,913,401 | 5.2% | 7 |
| UNITED THERAPEUTICS CORP DEL | [UTHR](https://holderbook.com/stocks/UTHR/) | $122.2M | 225,587 | 4.2% | 20 |
| INSPIRE MED SYS INC | [INSP](https://holderbook.com/stocks/INSP/) | $86.2M | 1,931,436 | 3.0% | 6 |
| RIGEL PHARMACEUTICALS INC | [RIGL](https://holderbook.com/stocks/RIGL/) | $72.1M | 1,843,504 | 2.5% | 9 |
| ANI PHARMACEUTICALS INC | [ANIP](https://holderbook.com/stocks/ANIP/) | $71.8M | 867,760 | 2.5% | 8 |
| BETA BIONICS INC | [BBNX](https://holderbook.com/stocks/BBNX/) | $68.8M | 4,393,714 | 2.4% | 6 |
| VERICEL CORP | [VCEL](https://holderbook.com/stocks/VCEL/) | $64.9M | 1,459,152 | 2.2% | 5 |
| PRAXIS PRECISION MEDICINES I | [PRAX](https://holderbook.com/stocks/PRAX/) | $59.4M | 177,517 | 2.0% | 10 |
| GERON CORP | [GERN](https://holderbook.com/stocks/GERN/) | $54.8M | 42,808,659 | 1.9% | 6 |
| ALKERMES PLC | [ALKS](https://holderbook.com/stocks/ALKS/) | $53.9M | 1,029,252 | 1.9% | 3 |
| ERASCA INC | [ERAS](https://holderbook.com/stocks/ERAS/) | $49.5M | 2,700,000 | 1.7% | 1 |
| NEUROPACE INC | [NPCE](https://holderbook.com/stocks/NPCE/) | $46.3M | 2,911,122 | 1.6% | 21 |
| PROGYNY INC | [PGNY](https://holderbook.com/stocks/PGNY/) | $46.2M | 1,602,000 | 1.6% | 2 |
| INDIVIOR PHARMACEUTICALS INC | [INDV](https://holderbook.com/stocks/INDV/) | $43.7M | 1,064,000 | 1.5% | 2 |
| PARABILIS MEDICINES INC | [PBLS](https://holderbook.com/stocks/PBLS/) | $40.1M | 1,465,070 | 1.4% | 1 |
| EDAP TMS S A | [FOCL](https://holderbook.com/stocks/FOCL/) | $37.9M | 7,309,254 | 1.3% | 22 |
| GLOBUS MED INC | [GMED](https://holderbook.com/stocks/GMED/) | $37.0M | 468,922 | 1.3% | 4 |
| ARCUS BIOSCIENCES INC | [RCUS](https://holderbook.com/stocks/RCUS/) | $36.0M | 1,168,738 | 1.2% | 3 |
| SYNDAX PHARMACEUTICALS INC | [SNDX](https://holderbook.com/stocks/SNDX/) | $35.6M | 1,628,039 | 1.2% | 15 |
| NURIX THERAPEUTICS INC | [NRIX](https://holderbook.com/stocks/NRIX/) | $35.5M | 1,465,163 | 1.2% | 12 |
| LEGEND BIOTECH CORP | [LEGN](https://holderbook.com/stocks/LEGN/) | $34.8M | 1,205,000 | 1.2% | 1 |
| JADE BIOSCIENCES INC | [JBIO](https://holderbook.com/stocks/JBIO/) | $34.5M | 1,550,690 | 1.2% | 5 |
| UNITEDHEALTH GROUP INC | [UNH](https://holderbook.com/stocks/UNH/) | $33.3M | 80,000 | 1.1% | 1 |
| AVALO THERAPEUTICS INC | [AVTX](https://holderbook.com/stocks/AVTX/) | $30.6M | 1,654,978 | 1.1% | 3 |
| UROGEN PHARMA LTD | [URGN](https://holderbook.com/stocks/URGN/) | $30.5M | 829,810 | 1.1% | 5 |
| MBX BIOSCIENCES INC | [MBX](https://holderbook.com/stocks/MBX/) | $28.4M | 515,279 | 1.0% | 4 |
| PALISADE BIO INC | [PALI](https://holderbook.com/stocks/PALI/) | $27.3M | 13,063,687 | 0.9% | 1 |
| PHARVARIS N V | [PHVS](https://holderbook.com/stocks/PHVS/) | $25.3M | 730,907 | 0.9% | 15 |
| ORGANOGENESIS HLDGS INC | [ORGO](https://holderbook.com/stocks/ORGO/) | $24.6M | 10,140,951 | 0.8% | 20 |
| SUPERNUS PHARMACEUTICALS | [SUPN](https://holderbook.com/stocks/SUPN/) | $24.2M | 520,000 | 0.8% | 1 |
| PROCEPT BIOROBOTICS CORP | [PRCT](https://holderbook.com/stocks/PRCT/) | $22.6M | 1,003,000 | 0.8% | 2 |
| TANGO THERAPEUTICS INC | [TNGX](https://holderbook.com/stocks/TNGX/) | $22.2M | 709,000 | 0.8% | 5 |
| INHIBIKASE THERAPEUTICS INC | [IKT](https://holderbook.com/stocks/IKT/) | $22.1M | 10,875,000 | 0.8% | 7 |
| TREVI THERAPEUTICS INC | [TRVI](https://holderbook.com/stocks/TRVI/) | $22.0M | 1,179,618 | 0.8% | 5 |
| BIOMARIN PHARMACEUTICAL INC | [BMRN](https://holderbook.com/stocks/BMRN/) | $21.5M | 375,572 | 0.7% | 7 |
| LIVANOVA PLC | [LIVN](https://holderbook.com/stocks/LIVN/) | $21.0M | 254,957 | 0.7% | 3 |
| ARGENX SE | [ARGX](https://holderbook.com/stocks/ARGX/) | $18.5M | 19,955 | 0.6% | 6 |
| NUVECTIS PHARMA INC | [NVCT](https://holderbook.com/stocks/NVCT/) | $18.4M | 1,000,000 | 0.6% | 1 |
| CAPRICOR THERAPEUTICS INC | [CAPR](https://holderbook.com/stocks/CAPR/) | $18.3M | 761,737 | 0.6% | 1 |
| EDGEWISE THERAPEUTICS INC | [EWTX](https://holderbook.com/stocks/EWTX/) | $18.3M | 450,889 | 0.6% | 3 |
| PRELUDE THERAPEUTICS INC | [PRLD](https://holderbook.com/stocks/PRLD/) | $18.0M | 3,378,378 | 0.6% | 1 |
| XENON PHARMACEUTICALS INC | [XENE](https://holderbook.com/stocks/XENE/) | $16.1M | 267,000 | 0.6% | 2 |
| C4 THERAPEUTICS INC | [CCCC](https://holderbook.com/stocks/CCCC/) | $15.8M | 3,377,981 | 0.5% | 23 |
| KINIKSA PHARMACEUTICALS INTL | [KNSA](https://holderbook.com/stocks/KNSA/) | $15.8M | 246,353 | 0.5% | 6 |
| ORTHOPEDIATRICS CORP | [KIDS](https://holderbook.com/stocks/KIDS/) | $14.0M | 732,144 | 0.5% | 6 |
| AVALYN PHARMACEUTICALS INC | [AVLN](https://holderbook.com/stocks/AVLN/) | $13.8M | 419,000 | 0.5% | 1 |
| BIODESIX INC | [BDSX](https://holderbook.com/stocks/BDSX/) | $13.2M | 585,958 | 0.5% | 2 |
| SPYRE THERAPEUTICS INC | [SYRE](https://holderbook.com/stocks/SYRE/) | $13.1M | 147,000 | 0.4% | 1 |
| TWIST BIOSCIENCE CORP | [TWST](https://holderbook.com/stocks/TWST/) | $10.8M | 104,629 | 0.4% | 5 |
| VIR BIOTECHNOLOGY INC | [VIR](https://holderbook.com/stocks/VIR/) | $10.2M | 1,000,000 | 0.4% | 2 |
| ALNYLAM PHARMACEUTICALS INC | [ALNY](https://holderbook.com/stocks/ALNY/) | $9.9M | 33,050 | 0.3% | 5 |
| IMMUNOVANT INC | [IMVT](https://holderbook.com/stocks/IMVT/) | $9.7M | 252,000 | 0.3% | 3 |
| INSMED INC | [INSM](https://holderbook.com/stocks/INSM/) | $9.6M | 90,250 | 0.3% | 12 |
| SEPTERNA INC | [SEPN](https://holderbook.com/stocks/SEPN/) | $9.2M | 275,000 | 0.3% | 7 |
| SOPHIA GENETICS SA | [SOPH](https://holderbook.com/stocks/SOPH/) | $9.0M | 1,565,000 | 0.3% | 2 |
| NEKTAR THERAPEUTICS | [NKTR](https://holderbook.com/stocks/NKTR/) | $9.0M | 128,362 | 0.3% | 1 |
| MIRUM PHARMACEUTICALS INC | [MIRM](https://holderbook.com/stocks/MIRM/) | $8.8M | 75,000 | 0.3% | 5 |
| ARTIVION INC | [AORT](https://holderbook.com/stocks/AORT/) | $8.7M | 388,000 | 0.3% | 1 |
| TANDEM DIABETES CARE INC | [TNDM](https://holderbook.com/stocks/TNDM/) | $8.7M | 575,000 | 0.3% | 2 |
| ENLIVEN THERAPEUTICS INC | [ELVN](https://holderbook.com/stocks/ELVN/) | $8.4M | 165,677 | 0.3% | 3 |
| SIONNA THERAPEUTICS INC | [SION](https://holderbook.com/stocks/SION/) | $7.8M | 177,687 | 0.3% | 6 |
| BELITE BIO INC | [BLTE](https://holderbook.com/stocks/BLTE/) | $7.8M | 50,524 | 0.3% | 1 |
| CERUS CORP | [CERS](https://holderbook.com/stocks/CERS/) | $7.3M | 2,500,000 | 0.3% | 3 |
| SILENCE THERAPEUTICS PLC | [SLN](https://holderbook.com/stocks/SLN/) | $6.9M | 630,000 | 0.2% | 1 |
| IMMUNIC INC | [IMUX](https://holderbook.com/stocks/IMUX/) | $6.9M | 450,000 | 0.2% | 1 |
| INVIVYD INC | [IVVD](https://holderbook.com/stocks/IVVD/) | $6.7M | 7,708,727 | 0.2% | 3 |
| MERCK & CO INC | [MRK](https://holderbook.com/stocks/MRK/) | $6.4M | 50,000 | 0.2% | 2 |
| RELMADA THERAPEUTICS INC | [RLMD](https://holderbook.com/stocks/RLMD/) | $5.8M | 842,106 | 0.2% | 2 |
| STRUCTURE THERAPEUTICS INC | [GPCR](https://holderbook.com/stocks/GPCR/) | $5.7M | 107,000 | 0.2% | 3 |
| EVOLUS INC | [EOLS](https://holderbook.com/stocks/EOLS/) | $5.7M | 822,428 | 0.2% | 10 |
| ADLAI NORTYE LTD | [ANL](https://holderbook.com/stocks/ANL/) | $4.7M | 405,523 | 0.2% | 1 |
| ZENTALIS PHARMACEUTICALS INC | [ZNTL](https://holderbook.com/stocks/ZNTL/) | $4.6M | 950,000 | 0.2% | 1 |
| KARYOPHARM THERAPEUTICS INC | [KPTI](https://holderbook.com/stocks/KPTI/) | $4.3M | 440,000 | 0.1% | 3 |
| CONTEXT THERAPEUTICS INC | [CNTX](https://holderbook.com/stocks/CNTX/) | $3.9M | 7,063,141 | 0.1% | 2 |
| PULMONX CORP | [LUNG](https://holderbook.com/stocks/LUNG/) | $3.6M | 2,788,323 | 0.1% | 3 |
| SAB BIOTHERAPEUTICS INC | [SABS](https://holderbook.com/stocks/SABS/) | $3.5M | 900,000 | 0.1% | 2 |
| TECTONIC THERAPEUTIC INC | [TECX](https://holderbook.com/stocks/TECX/) | $3.5M | 101,684 | 0.1% | 2 |
| AXOGEN INC | [AXGN](https://holderbook.com/stocks/AXGN/) | $2.6M | 57,036 | 0.1% | 16 |
| SATELLOS BIOSCIENCE INC | [MSLE](https://holderbook.com/stocks/MSLE/) | $2.4M | 314,359 | 0.1% | 2 |
| ARRIVENT BIOPHARMA INC | [AVBP](https://holderbook.com/stocks/AVBP/) | $1.7M | 50,000 | 0.1% | 1 |
| CORCEPT THERAPEUTICS INC | [CORT](https://holderbook.com/stocks/CORT/) | $1.7M | 19,653 | 0.1% | 2 |
| SOLID BIOSCIENCES INC | [SLDB](https://holderbook.com/stocks/SLDB/) | $1.5M | 150,000 | 0.1% | 1 |
| VERACYTE INC | [VCYT](https://holderbook.com/stocks/VCYT/) | $1.5M | 25,000 | 0.1% | 5 |
| CULLINAN THERAPEUTICS INC | [CGEM](https://holderbook.com/stocks/CGEM/) | $910.5K | 50,000 | 0.0% | 2 |
| INSPIREMD INC | [NSPR](https://holderbook.com/stocks/NSPR/) | $732.1K | 1,045,708 | 0.0% | 13 |
| GENEDX HOLDINGS CORP | [WGS](https://holderbook.com/stocks/WGS/) | $686.5K | 10,000 | 0.0% | 1 |
| IOVANCE BIOTHERAPEUTICS INC | [IOVA](https://holderbook.com/stocks/IOVA/) | $624.0K | 150,000 | 0.0% | 2 |
| LARIMAR THERAPEUTICS INC | [LRMR](https://holderbook.com/stocks/LRMR/) | $573.7K | 188,102 | 0.0% | 2 |
| CG ONCOLOGY INC | [CGON](https://holderbook.com/stocks/CGON/) | $355.2K | 5,000 | 0.0% | 10 |
| QUOIN PHARMACEUTICALS LTD | [QNRX](https://holderbook.com/stocks/QNRX/) | $352.0K | 72,730 | 0.0% | 3 |
| EQUILLIUM INC | [EQ](https://holderbook.com/stocks/EQ/) | $288.0K | 90,000 | 0.0% | 1 |
| NATERA INC | [NTRA](https://holderbook.com/stocks/NTRA/) | $271.4K | 1,000 | 0.0% | 3 |
| NEOGENOMICS INC | [NEO](https://holderbook.com/stocks/NEO/) | $145.9K | 10,000 | 0.0% | 3 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +25.0% | +14.8% | +10.2% | 100% |
| Q1 2026 | +0.8% | -4.6% | +5.4% | 98% |
| Q4 2025 | +51.6% | +2.4% | +49.2% | 100% |
| Q3 2025 | +25.8% | +7.8% | +18.0% | 100% |
| Q2 2025 | -3.8% | +10.5% | -14.2% | 100% |
| Q1 2025 | -11.4% | -4.6% | -6.9% | 100% |
| Q4 2024 | -11.4% | +2.1% | -13.6% | 99% |
| Q3 2024 | +11.6% | +5.4% | +6.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $2.9B | 97 |
| Q1 2026 | $2.5B | 93 |
| Q4 2025 | $2.7B | 95 |
| Q3 2025 | $2.0B | 88 |
| Q2 2025 | $1.5B | 95 |
| Q1 2025 | $1.4B | 75 |
| Q4 2024 | $1.6B | 81 |
| Q3 2024 | $1.3B | 87 |
| Q2 2024 | $1.1B | 92 |
| Q1 2024 | $1.3B | 91 |
| Q4 2023 | $901.2M | 73 |
| Q3 2023 | $1.1B | 91 |