Q2 2026 13F · SEC CIK 1802630

Soleus Capital Management, L.P.

Hedge fundFiled 2026-08-11 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $2.9B
Reported positions: 97
Top holdings a year, 3 yrs: +23.3%
Assets under management: $3.7B

Soleus Capital Management, L.P. is a hedge fund that reported 97 positions worth $2.9B in its Q2 2026 13F, filed 2026-08-11. Its largest holdings were Krystal Biotech Inc (KRYS, 12.0%), Celcuity Inc (CELC, 6.1%), TG Therapeutics Inc (TGTX, 5.5%). A portfolio copying its top holdings returned 23.3% a year over the last 3 years, against 20.4% for the S&P 500.

Soleus Capital Management, L.P. holdings largest 50 of 97 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Soleus Capital Management, L.P. 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
KRYSKrystal Biotech Inc	12.0%	12.1%	939,254	-18.5%	$349.1M
CELCCelcuity Inc	6.1%	5.9%	1,704,318	+32.7%	$178.3M
TGTXTG Therapeutics Inc	5.5%	5.4%	2,927,895	-27.3%	$160.9M
PODDInsulet Corp	5.5%	4.8%	1,049,000	+86.5%	$159.7M
NVCRNovocure Ltd	5.2%	4.6%	9,913,401	-5.5%	$150.2M
UTHRUnited Therapeutics Corp Del	4.2%	4.5%	225,587	+20.5%	$122.2M
INSPInspire Med Sys Inc	3.0%	1.2%	1,931,436	+235.1%	$86.2M
RIGLRigel Pharmaceuticals Inc	2.5%	—	1,843,504	—	$72.1M
ANIPAni Pharmaceuticals Inc	2.5%	2.6%	867,760	+5.8%	$71.8M
BBNXBeta Bionics Inc	2.4%	1.8%	4,393,714	+0.9%	$68.8M
VCELVericel Corp	2.2%	3.3%	1,459,152	-42.8%	$64.9M
PRAXPraxis Precision Medicines I	2.0%	4.3%	177,517	-46.3%	$59.4M
GERNGeron Corp	1.9%	2.5%	42,808,659	+3.1%	$54.8M
ALKSAlkermes PLC	1.9%	2.8%	1,029,252	-47.8%	$53.9M
ERASErasca, Inc.	1.7%	—	2,700,000	—	$49.5M
NPCENeuropace Inc	1.6%	1.6%	2,911,122	-0.7%	$46.3M
PGNYProgyny Inc	1.6%	1.4%	1,602,000	-22.5%	$46.2M
INDVIndivior Pharmaceuticals Inc	1.5%	1.6%	1,064,000	-16.5%	$43.7M
PBLSParabilis Medicines, Inc.	1.4%	—	1,465,070	—	$40.1M
EDAPEdap Tms S A	1.3%	1.1%	7,309,254	+0.0%	$37.9M
GMEDGlobus Med Inc	1.3%	2.5%	468,922	-35.7%	$37.0M
RCUSArcus Biosciences Inc.	1.2%	—	1,168,738	—	$36.0M
SNDXSyndax Pharmaceuticals Inc	1.2%	1.6%	1,628,039	-5.7%	$35.6M
NRIXNurix Therapeutics Inc	1.2%	0.6%	1,465,163	+56.2%	$35.5M
LEGNLegend Biotech Corp	1.2%	—	1,205,000	—	$34.8M
008064206Jade Biosciences Inc	1.2%	0.5%	1,550,690	+94.6%	$34.5M
UNHUnitedhealth Group Inc	1.1%	—	80,000	—	$33.3M
AVTXAvalo Therapeutics Inc	1.1%	—	1,654,978	—	$30.6M
URGNUrogen Pharma Ltd	1.1%	0.5%	829,810	+14.1%	$30.5M
MBXMbx Biosciences Inc	1.0%	—	515,279	—	$28.4M
PALIPalisade Bio Inc	0.9%	—	13,063,687	—	$27.3M
PHVSPharvaris N V	0.9%	0.8%	730,907	+4.1%	$25.3M
ORGOOrganogenesis Hldgs Inc	0.8%	1.0%	10,140,951	+0.5%	$24.6M
SUPNSupernus Pharmaceuticals	0.8%	—	520,000	—	$24.2M
PRCTProcept Biorobotics Corp	0.8%	—	1,003,000	—	$22.6M
TNGXTango Therapeutics Inc	0.8%	—	709,000	—	$22.2M
IKTInhibikase Therapeutics Inc	0.8%	0.7%	10,875,000	+0.0%	$22.1M
TRVITrevi Therapeutics Inc	0.8%	0.8%	1,179,618	-27.2%	$22.0M
BMRNBiomarin Pharmaceutical Inc	0.7%	1.5%	375,572	-42.3%	$21.5M
LIVNLivanova PLC	0.7%	1.5%	254,957	-56.2%	$21.0M
ARGNFArgenx SE	0.6%	—	19,955	—	$18.5M
NVCTNuvectis Pharma Inc	0.6%	—	1,000,000	—	$18.4M
CAPRCapricor Therapeutics Inc	0.6%	—	761,737	—	$18.3M
EWTXEdgewise Therapeutics Inc	0.6%	1.9%	450,889	-68.9%	$18.3M
PRLDPrelude Therapeutics Inc	0.6%	—	3,378,378	—	$18.0M
XENEXenon Pharmaceuticals Inc	0.6%	0.7%	267,000	-8.6%	$16.1M
CCCCC4 Therapeutics Inc	0.5%	0.4%	3,377,981	-11.2%	$15.8M
KNSAKiniksa Pharmaceuticals Intl	0.5%	1.0%	246,353	-52.7%	$15.8M
KIDSOrthopediatrics Corp	0.5%	0.4%	732,144	+19.0%	$14.0M
AVLNAvalyn Pharmaceuticals Inc	0.5%	—	419,000	—	$13.8M

What Soleus Capital Management, L.P. bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +82.5% /yr; S&P 500 +20.1%
3 years: +23.3% /yr; S&P 500 +20.4%
5 years: +11.4% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value, bought the trading day after each 13F was filed and held until the next one was: what copying this filer could have earned. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$2.9B	97
Q1 2026	$2.5B	93
Q4 2025	$2.4B	94
Q3 2025	$1.9B	87
Q2 2025	$1.4B	94
Q1 2025	$1.3B	74
Q4 2024	$1.3B	80
Q3 2024	$1.2B	86
Q2 2024	$1.1B	92
Q1 2024	$1.1B	90
Q4 2023	$901.2M	73
Q3 2023	$992.6M	90

Questions about Soleus Capital Management, L.P.'s portfolio

What stocks does Soleus Capital Management, L.P. own?

Soleus Capital Management, L.P.'s latest 13F, for Q2 2026 and filed Aug 11, 2026, lists 97 positions worth $2.9B. The largest are Krystal Biotech Inc (KRYS) at 12.0%, Celcuity Inc (CELC) at 6.1%, TG Therapeutics Inc (TGTX) at 5.5%, Insulet Corp (PODD) at 5.5% and Novocure Ltd (NVCR) at 5.2%.

What did Soleus Capital Management, L.P. buy last quarter?

In Q2 2026, Soleus Capital Management, L.P. added Inspire Med Sys Inc (INSP) (+235.1% shares), Jade Biosciences Inc (+94.6% shares) and Insulet Corp (PODD) (+86.5% shares), compared with its Q1 2026 filing.

What did Soleus Capital Management, L.P. sell last quarter?

In Q2 2026, Soleus Capital Management, L.P. cut from its top 50 Twist Bioscience Corp (TWST), cut from its top 50 Alnylam Pharmaceuticals Inc (ALNY), cut from its top 50 Mirum Pharmaceuticals Inc (MIRM), cut from its top 50 Merck & Co Inc (MRK), cut from its top 50 Natera Inc (NTRA), Edgewise Therapeutics Inc (EWTX) (-68.9% shares), Livanova PLC (LIVN) (-56.2% shares) and Kiniksa Pharmaceuticals Intl (KNSA) (-52.7% shares), compared with its Q1 2026 filing.

How has Soleus Capital Management, L.P.'s portfolio performed?

A portfolio copying Soleus Capital Management, L.P.'s 20 largest 13F holdings each quarter, from the day each filing was public, returned +23.3% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +82.5% against +20.1%. Over 5 years: +11.4% a year against +11.6%.

When is Soleus Capital Management, L.P.'s next 13F filing due?

13F filings are due 45 days after each quarter ends. Soleus Capital Management, L.P.'s filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Soleus Capital Management, L.P. manage?

Soleus Capital Management, L.P. reported $3.7B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $2.9B.