— Know what they know.
Not Investment Advice
Asset Manager ← All Institutions

Soleus Capital Management, L.P.

Q4 2025 · Filed 2026-02-12
Market Value
$2.2B
+24.1%
Holdings
106
+7
New Purchases
29
Added To
20
Closed
21
Reduced
31
Top 10 Concentration
48.9%
Turnover
47.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
CELC 8.25% 3.31% +4.94% $180M
DXCM 3.94% 0.00% +3.94% $86M
GMED 3.54% 0.57% +2.97% $77M
PODD 1.95% 0.00% +1.95% $43M
ALKS 1.69% 0.00% +1.69% $37M
LIVN 1.60% 0.00% +1.60% $35M
MIRM 2.07% 0.62% +1.45% $45M
FOLD 3.39% 2.10% +1.29% $74M
IMVT 1.29% 0.00% +1.29% $28M
PCVX 1.29% 0.00% +1.29% $28M
TFX 1.06% 0.00% +1.06% $23M
EWTX 1.03% 0.00% +1.03% $23M
GSK 1.43% 0.54% +0.89% $31M
ALNY 1.27% 0.40% +0.88% $28M
ADGI 0.87% 0.00% +0.87% $19M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
ANTM 0.00% 4.77% -4.77% $0
TGTX 4.28% 7.89% -3.61% $94M
TERN 0.39% 3.47% -3.07% $9M
CDTX 0.39% 2.69% -2.29% $9M
UTHR 1.34% 3.57% -2.23% $29M
NVCR 5.05% 7.08% -2.03% $110M
INSP 1.26% 3.07% -1.81% $28M
MDGL 0.01% 1.78% -1.77% $291K
ARGX 1.22% 2.91% -1.69% $27M
GRFS 0.00% 1.41% -1.41% $0
IART 0.00% 1.17% -1.17% $0
BBNX 3.53% 4.37% -0.83% $77M
VCYT 0.02% 0.82% -0.80% $421K
ANAB 0.30% 1.09% -0.79% $7M
STAA 0.03% 0.76% -0.74% $577K

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 14 $456M 20.9%
Mid Cap 39 $1.1B 51.5%
Small Cap 42 $553M 25.3%
Micro Cap 11 $50M 2.3%

Portfolio Analytics

Avg Market Cap
$6.7B
Median Market Cap
$2.0B
Avg P/E
37.7
Median P/E
23.6
Avg Dividend Yield
0.08%
Avg Beta
0.84
# Stocks
106
# ETFs / Funds
0

Top Holdings (106 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 KRYS 10.62% 941,059 $232M $246.54 $52M -77,772 -7.6%
2 CELC 8.25% 1,808,258 $180M $99.74 $122M +629,398 +53.4%
3 NVCR 5.05% 8,530,665 $110M $12.93 -$14M -1,114,207 -11.6%
4 TGTX 4.28% 3,139,312 $94M $29.81 -$45M -705,419 -18.4%
5 DXCM 3.94% 1,297,094 $86M $66.37 +1,297,094 NEW
6 BMRN 3.59% 1,320,000 $78M $59.43 $30M +429,696 +48.3%
7 GMED 3.54% 887,000 $77M $87.31 $67M +711,000 +404.0%
8 BBNX 3.53% 2,534,565 $77M $30.47 $328K -1,335,593 -34.5%
9 FOLD 3.39% 5,207,284 $74M $14.24 $37M +517,284 +11.0%
10 TWST 2.70% 1,861,802 $59M $31.72 $7M -4,432 -0.2%
11 ORGO 2.37% 9,985,951 $52M $5.18 $531K -2,145,748 -17.7%
12 SNDX 2.16% 2,247,110 $47M $21.01 $16M +235,000 +11.7%
13 MIRM 2.07% 573,614 $45M $78.99 $34M +424,918 +285.8%
14 PODD 1.95% 150,000 $43M $284.24 +150,000 NEW
15 NPCE 1.91% 2,703,208 $42M $15.44 $11M -254,749 -8.6%
16 AXGN 1.81% 1,206,855 $40M $32.73 $9M -519,698 -30.1%
17 ANIP 1.76% 486,243 $38M $78.94 $7M +146,000 +42.9%
18 ALKS 1.69% 1,322,364 $37M $27.98 +1,322,364 NEW
19 LIVN 1.60% 567,500 $35M $61.53 +567,500 NEW
20 GSK 1.43% 639,000 $31M $49.04 $22M +419,000 +190.4%
21 GERN 1.41% 23,290,000 $31M $1.32 $7M +6,000,000 +34.7%
22 UTHR 1.34% 60,000 $29M $487.25 -$34M -90,000 -60.0%
23 IMVT 1.29% 1,110,000 $28M $25.42 +1,110,000 NEW
24 PCVX 1.29% 608,958 $28M $46.14 +608,958 NEW
25 ALNY 1.27% 70,000 $28M $397.65 $21M +54,750 +359.0%
26 INSP 1.26% 299,399 $28M $92.23 -$26M -428,789 -58.9%
27 VCEL 1.26% 764,000 $28M $36.01 $12M +266,047 +53.4%
28 ARGX 1.22% 31,726 $27M $840.95 -$25M -37,700 -54.3%
29 RAPT 1.18% 764,000 $26M $33.87 $12M +226,097 +42.0%
30 NBIX 1.14% 175,982 $25M $141.83 $6M +37,982 +27.5%
31 EDAP 1.10% 7,309,254 $24M $3.29 $7M
32 TFX 1.06% 190,000 $23M $122.04 +190,000 NEW
33 NRIX 1.06% 1,219,394 $23M $18.97 $745K -1,203,439 -49.7%
34 EWTX 1.03% 910,000 $23M $24.82 +910,000 NEW
35 PHVS 0.89% 702,052 $19M $27.75 $3M +55,000 +8.5%
36 ADGI 0.87% 7,708,727 $19M $2.47 +7,708,727 NEW
37 CAPR 0.85% 646,390 $19M $28.86 +646,390 NEW
38 THC 0.84% 92,500 $18M $198.72 +92,500 NEW
39 RCUS 0.78% 711,983 $17M $23.83 +711,983 NEW
40 ELVN 0.72% 1,025,000 $16M $15.40 +1,025,000 NEW
41 MBX 0.59% 408,900 $13M $31.54 $8M +133,900 +48.7%
42 RIGL 0.59% 300,034 $13M $42.83 $4M -29,976 -9.1%
43 JBIO 0.56% 796,744 $12M $15.43 $5M
44 TRVI 0.52% 900,000 $11M $12.52 $11M +875,000 +3500.0%
45 SION 0.51% 268,500 $11M $41.14 -$1M -145,000 -35.1%
46 SEPN 0.49% 383,368 $11M $27.88 $10M +365,108 +1999.5%
47 KIDS 0.43% 525,447 $9M $17.76 $7M +397,447 +310.5%
48 TERN 0.39% 212,710 $9M $40.40 -$52M -7,914,390 -97.4%
49 CDTX 0.39% 38,811 $9M $220.89 -$39M -455,000 -92.1%
50 INSM 0.39% 48,500 $8M $174.04 $8M +45,950 +1802.0%
51 CERS 0.38% 4,000,000 $8M $2.06 +4,000,000 NEW
52 ERAS 0.37% 2,162,162 $8M $3.72 $3M
53 CCCC 0.33% 3,803,942 $7M $1.91 -$8M -3,250,000 -46.1%
54 EOLS 0.33% 1,070,000 $7M $6.65 -$2M -380,000 -26.2%
55 CGON 0.32% 170,000 $7M $41.52 -$5M -120,000 -41.4%
56 ANAB 0.30% 135,000 $7M $48.48 -$13M -491,040 -78.4%
57 BLTE 0.30% 40,354 $6M $159.96 -$9M -169,646 -80.8%
58 GPCR 0.29% 90,000 $6M $69.55 +90,000 NEW
59 ABVX 0.28% 45,000 $6M $134.85 +45,000 NEW
60 ORKA 0.26% 190,000 $6M $30.31 +190,000 NEW
61 MLTX 0.24% 400,000 $5M $13.18 +400,000 NEW
62 NEO 0.23% 427,504 $5M $11.76 +427,504 NEW
63 NTRA 0.21% 20,000 $5M $229.09 +20,000 NEW
64 CALC 0.21% 683,904 $5M $6.59 $2M
65 LUNG 0.21% 2,038,323 $5M $2.21 +2,038,323 NEW
66 COGT 0.20% 120,000 $4M $35.52 +120,000 NEW
67 URGN 0.16% 150,000 $4M $23.42 -$10M -529,000 -77.9%
68 TYRA 0.15% 125,000 $3M $26.29 +125,000 NEW
69 KPTI 0.15% 440,000 $3M $7.36 +440,000 NEW
70 VKTX 0.11% 70,000 $2M $35.18 +70,000 NEW
71 QDEL 0.10% 75,000 $2M $28.56 -$9M -300,000 -80.0%
72 ACLX 0.09% 30,000 $2M $65.20 -$6M -70,000 -70.0%
73 OLMA 0.08% 69,874 $2M $25.00 -$4M -550,000 -88.7%
74 BCAX 0.08% 100,000 $2M $16.83 +100,000 NEW
75 KOD 0.08% 60,000 $2M $27.96 $1M +40,356 +205.4%
76 GRAL 0.04% 11,000 $941K $85.59 +11,000 NEW
77 GUTS 0.04% 400,000 $880K $2.20 -$3M -2,100,000 -84.0%
78 STAA 0.03% 25,000 $577K $23.09 -$13M -475,000 -95.0%
79 VCYT 0.02% 10,000 $421K $42.10 -$14M -412,055 -97.6%
80 QNRX 0.02% 25,000 $361K $14.43 +25,000 NEW
81 MDGL 0.01% 500 $291K $582.34 -$31M -67,836 -99.3%
82 LBRX 0.01% 10,000 $223K $22.26 -$6M -390,000 -97.5%
83 DYN 0.01% 10,000 $196K $19.56 +10,000 NEW
84 DCTH —% 10,000 $101K $10.10 -$6K
85 TNGX —% 10,000 $89K $8.86 -$2M -290,000 -96.7%
86 HROW —% -$4M -85,498 -100.0% SOLD
87 GRFS —% -$25M -2,500,000 -100.0% SOLD
88 ESTA —% -$6M -139,512 -100.0% SOLD
89 TECX —% -$392K -25,000 -100.0% SOLD
90 NUVL —% -$8M -88,000 -100.0% SOLD
91 0LOV.L —% -$8M -935,909 -100.0% SOLD
92 LQDA —% -$1M -50,000 -100.0% SOLD
93 ETON —% -$4M -200,000 -100.0% SOLD
94 IART —% -$21M -1,440,818 -100.0% SOLD
95 IDYA —% -$3M -100,000 -100.0% SOLD
96 MNKD —% -$2M -300,000 -100.0% SOLD
97 MREO —% -$617K -299,711 -100.0% SOLD
98 MYO —% -$628K -704,275 -100.0% SOLD
99 QURE —% -$12M -200,000 -100.0% SOLD
100 IOVA —% -$2M -976,707 -100.0% SOLD

Options Breakdown

0 Calls $0 Call Value 1 Puts $354M Put Value

Top Puts

SymbolSharesValueStatus
XBI 2,900,000 $354M

New Positions

SymbolValue% Port
DXCM $86M 3.94%
PODD $43M 1.95%
ALKS $37M 1.69%
LIVN $35M 1.60%
IMVT $28M 1.29%
PCVX $28M 1.29%
TFX $23M 1.06%
EWTX $23M 1.03%
ADGI $19M 0.87%
CAPR $19M 0.85%
THC $18M 0.84%
RCUS $17M 0.78%
ELVN $16M 0.72%
CERS $8M 0.38%
GPCR $6M 0.29%

Sold Out Positions

SymbolValue% Port
CBLL —%
GRFS —%
HROW —%
ETON —%
ADMA —%
MREO —%
IART —%
IOVA —%
ESTA —%
MNKD —%
RAPP —%
NUVL —%
LQDA —%
MYO —%
TECX —%
View SEC EDGAR Filings for Soleus Capital Management, L.P. →

Sign in to InsiderStreet

You'll also get our free weekly newsletter with
smart money signals, market insights, and alpha ideas.
Unsubscribe anytime.

For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms