1y return+94.5%S&P 500 +20.9%
3y return+96.2%S&P 500 +68.5%
5y return+57.5%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2019: $290 against $232 in the S&P 500.2
Soleus Capital Management, L.P.S&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| KRYSKrystal Biotech Inc | $349.1M | 12.0% | −18.5% |
| CELCCelcuity Inc | $178.3M | 6.1% | +32.7% |
| TGTXTg Therapeutics Inc | $160.9M | 5.5% | −27.3% |
| PODDInsulet Corp | $159.7M | 5.5% | +86.5% |
| Novocure LtdCUSIP G6674U108 | $150.2M | 5.2% | −5.5% |
| UTHRUnited Therapeutics Corp Del | $122.2M | 4.2% | +20.5% |
| INSPInspire Med Sys Inc | $86.2M | 3.0% | +235.1% |
| RIGLRigel Pharmaceuticals Inc | $72.1M | 2.5% | +18335.0% |
| ANIPAni Pharmaceuticals Inc | $71.8M | 2.5% | +5.8% |
| BBNXBeta Bionics Inc | $68.8M | 2.4% | |
| VCELVericel Corp | $64.9M | 2.2% | −42.8% |
| PRAXPraxis Precision Medicines I | $59.4M | 2.0% | −46.3% |
| GERNGeron Corp | $54.8M | 1.9% | +3.1% |
| Alkermes PLCCUSIP G01767105 | $53.9M | 1.9% | −47.8% |
| ERASErasca Inc | $49.5M | 1.7% | New |
| NPCENeuropace Inc | $46.3M | 1.6% | |
| PGNYProgyny Inc | $46.2M | 1.6% | −22.5% |
| INDVIndivior Pharmaceuticals Inc | $43.7M | 1.5% | −16.5% |
| PBLSParabilis Medicines Inc | $40.1M | 1.4% | New |
| FOCLEdap Tms S A | $37.9M | 1.3% | |
| GMEDGlobus Med Inc | $37.0M | 1.3% | −35.7% |
| RCUSArcus Biosciences Inc | $36.0M | 1.2% | +158.6% |
| SNDXSyndax Pharmaceuticals Inc | $35.6M | 1.2% | −5.7% |
| NRIXNurix Therapeutics Inc | $35.5M | 1.2% | +56.2% |
| LEGNLegend Biotech Corp | $34.8M | 1.2% | New |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| KRYSKrystal Biotech Inc | December 31, 2020 | +519.4% | $349.1M |
| TNGXTango Therapeutics Inc | June 30, 2025 | +510.5% | $22.2M |
| RIGLRigel Pharmaceuticals Inc | June 30, 2024 | +375.9% | $72.1M |
| TGTXTg Therapeutics Inc | December 31, 2022 | +364.4% | $160.9M |
| TRVITrevi Therapeutics Inc | June 30, 2025 | +241.0% | $22.0M |
| MBXMbx Biosciences Inc | September 30, 2025 | +215.4% | $28.4M |
| NRIXNurix Therapeutics Inc | September 30, 2023 | +208.7% | $35.5M |
| Pharvaris N VCUSIP N69605108 | December 31, 2022 | +207.4% | $25.3M |
| UTHRUnited Therapeutics Corp Del | September 30, 2021 | +193.5% | $122.2M |
| Urogen Pharma LtdCUSIP M96088105 | June 30, 2025 | +168.6% | $30.5M |
Sold off last quarter
- PCVXVaxcyte Inc was $22.4M
- Icon PLCCUSIP G4705A100 was $21.2M
- TVTXTravere Therapeutics Inc was $16.2M
- INBXInhibrx Biosciences Inc was $8.8M
- DXCMDexcom Inc was $8.8M
- Immunic IncCUSIP 4525EP101 was $5.0M
- ETONEton Pharmaceuticals Inc was $4.1M
- ARWRArrowhead Pharmaceuticals In was $1.8M
- CTMXCytomx Therapeutics Inc. was $1.4M
- COGTCogent Biosciences Inc was $385K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +25.8% | +14.8% |
| March 31, 2026 | +2.1% | −4.6% |
| December 31, 2025 | +27.7% | +2.4% |
| September 30, 2025 | +18.6% | +7.8% |
| June 30, 2025 | −3.6% | +10.5% |
| March 31, 2025 | −8.9% | −4.6% |
| December 31, 2024 | −8.9% | +2.1% |
| September 30, 2024 | +11.6% | +5.4% |
| June 30, 2024 | −8.0% | +4.0% |
| March 31, 2024 | +12.2% | +10.0% |
| December 31, 2023 | +17.6% | +11.2% |
| September 30, 2023 | −6.9% | −3.6% |
| June 30, 2023 | +12.6% | +8.3% |
| March 31, 2023 | −4.8% | +7.0% |
| December 31, 2022 | +11.5% | +7.1% |
| September 30, 2022 | +5.3% | −5.3% |
| June 30, 2022 | −17.5% | −16.5% |
| March 31, 2022 | −7.4% | −4.9% |
| December 31, 2021 | −9.8% | +10.7% |
| September 30, 2021 | −7.3% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Soleus Capital Management, L.P. Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1802630&type=13F-HR&dateb=&owner=include&count=40CIK 1802630
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1802630/000180263026000005/Filed August 11, 2026 · accession 0001802630-26-000005