Soleus Capital Management, L.P.
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 11, 2026), Soleus Capital Management, L.P. reported 97 stock positions worth $2.9 billion. Its top holding was Krystal Biotech (KRYS) at 12.0% of the portfolio, followed by Celcuity (CELC, 6.1%) and TG Therapeutics (TGTX, 5.5%). Compared with Q1 2026, it opened 21 new positions, sold out of 17, added to 25 and reduced 41. The biggest buy was Rigel Pharmaceuticals (RIGL, shares +18335%) and the biggest sale Praxis Precision Medicines I (PRAX, shares −46%).
- Most Recent 13F
- Q2 2026
- Location
- GREENWICH, CT
- CIK
- 0001802630
- Portfolio Value
- $2.9B (Q2 2026)
- SEC Filing
- 0001802630-26-000005 ↗ filed Aug 11, 2026
Holdings Value
Holdings 97 stocks · $2.9B
| KRYS Krystal Biotech Inc. | 12.03% | 939,254 | $349.1M | Reduce -18.5% |
| CELC Celcuity Inc. | 6.14% | 1,704,318 | $178.3M | Add +32.7% |
| TGTX TG Therapeutics Inc. | 5.54% | 2,927,895 | $160.9M | Reduce -27.3% |
| PODD Insulet Corp. | 5.50% | 1,049,000 | $159.7M | Add +86.5% |
| NVCR Novocure Ltd. | 5.18% | 9,913,401 | $150.2M | Reduce -5.5% |
| UTHR United Therapeutics Corp. | 4.21% | 225,587 | $122.2M | Add +20.5% |
| INSP Inspire Medical Systems Inc. | 2.97% | 1,931,436 | $86.2M | Add +235.1% |
| RIGL Rigel Pharmaceuticals Inc. | 2.49% | 1,843,504 | $72.1M | Add +18335.0% |
| ANIP Ani Pharmaceuticals Inc. | 2.48% | 867,760 | $71.8M | Add +5.8% |
| BBNX Beta Bionics Inc. | 2.37% | 4,393,714 | $68.8M | Add +0.9% |
| VCEL Vericel Corp. | 2.24% | 1,459,152 | $64.9M | Reduce -42.8% |
| PRAX Praxis Precision Medicines I | 2.05% | 177,517 | $59.4M | Reduce -46.3% |
| GERN Geron Corp. | 1.89% | 42,808,659 | $54.8M | Add +3.1% |
| ALKS Alkermes PLC | 1.86% | 1,029,252 | $53.9M | Reduce -47.8% |
| ERAS Erasca Inc. | 1.70% | 2,700,000 | $49.5M | New |
| NPCE Neuropace Inc. | 1.59% | 2,911,122 | $46.3M | Reduce -0.7% |
| PGNY Progyny Inc. | 1.59% | 1,602,000 | $46.2M | Reduce -22.5% |
| INDV Indivior Pharmaceuticals Inc. | 1.50% | 1,064,000 | $43.7M | Reduce -16.5% |
| PBLS Parabilis Medicines Inc. | 1.38% | 1,465,070 | $40.1M | New |
| FOCL Edap TMS SA -ADR | 1.30% | 7,309,254 | $37.9M | No change |
| GMED Globus Medical Inc. Class A | 1.28% | 468,922 | $37.0M | Reduce -35.7% |
| RCUS Arcus Biosciences Inc. | 1.24% | 1,168,738 | $36.0M | Add +158.6% |
| SNDX Syndax Pharmaceuticals Inc. | 1.23% | 1,628,039 | $35.6M | Reduce -5.7% |
| NRIX Nurix Therapeutics Inc. | 1.22% | 1,465,163 | $35.5M | Add +56.2% |
| LEGN Legend Biotech Corp.-ADR | 1.20% | 1,205,000 | $34.8M | New |
| JBIO Jade Biosciences Inc. | 1.19% | 1,550,690 | $34.5M | Add +94.6% |
| UNH Unitedhealth Group Inc. | 1.15% | 80,000 | $33.3M | New |
| AVTX Avalo Therapeutics Inc. | 1.05% | 1,654,978 | $30.6M | Add +274.4% |
| URGN Urogen Pharma Ltd. | 1.05% | 829,810 | $30.5M | Add +14.1% |
| MBX MBX Biosciences Inc. | 0.98% | 515,279 | $28.4M | Add +188.0% |
| PALI Palisade Bio Inc. | 0.94% | 13,063,687 | $27.3M | New |
| PHVS Pharvaris NV | 0.87% | 730,907 | $25.3M | Add +4.1% |
| ORGO Organogenesis Holdings Inc. | 0.85% | 10,140,951 | $24.6M | Add +0.6% |
| SUPN Supernus Pharmaceuticals Inc. | 0.83% | 520,000 | $24.2M | New |
| PRCT Procept Biorobotics Corp. | 0.78% | 1,003,000 | $22.6M | Add +526.9% |
| TNGX Tango Therapeutics Inc. | 0.76% | 709,000 | $22.2M | Add +57.6% |
| IKT Inhibikase Therapeutics Inc. | 0.76% | 10,875,000 | $22.1M | No change |
| TRVI Trevi Therapeutics Inc. | 0.76% | 1,179,618 | $22.0M | Reduce -27.2% |
| BMRN Biomarin Pharmaceutical Inc. | 0.74% | 375,572 | $21.5M | Reduce -42.3% |
| LIVN Livanova PLC | 0.72% | 254,957 | $21.0M | Reduce -56.2% |
| ARGX Argenx SE - ADR | 0.64% | 19,955 | $18.5M | Add +470.1% |
| NVCT Nuvectis Pharma Inc. | 0.63% | 1,000,000 | $18.4M | New |
| CAPR Capricor Therapeutics Inc. | 0.63% | 761,737 | $18.3M | New |
| EWTX Edgewise Therapeutics Inc. | 0.63% | 450,889 | $18.3M | Reduce -68.9% |
| PRLD Prelude Therapeutics Inc. | 0.62% | 3,378,378 | $18.0M | New |
| XENE Xenon Pharmaceuticals Inc. | 0.56% | 267,000 | $16.1M | Reduce -8.6% |
| CCCC C4 Therapeutics Inc. | 0.54% | 3,377,981 | $15.8M | Reduce -11.2% |
| KNSA Kiniksa Pharmaceuticals Inte | 0.54% | 246,353 | $15.8M | Reduce -52.8% |
| KIDS Orthopediatrics Corp. | 0.48% | 732,144 | $14.0M | Add +19.0% |
| AVLN Avalyn Pharma Inc. | 0.48% | 419,000 | $13.8M | New |
| BDSX Biodesix Inc. | 0.46% | 585,958 | $13.2M | Add +40.6% |
| SYRE Spyre Therapeutics Inc. | 0.45% | 147,000 | $13.1M | New |
| TWST Twist Bioscience Corp. | 0.37% | 104,629 | $10.8M | Reduce -91.5% |
| VIR Vir Biotechnology Inc. | 0.35% | 1,000,000 | $10.2M | Reduce -50.0% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.34% | 33,050 | $9.9M | Reduce -74.9% |
| IMVT Immunovant Inc. | 0.33% | 252,000 | $9.7M | Add +9.6% |
| INSM Insmed Inc. | 0.33% | 90,250 | $9.6M | Add +780.5% |
| SEPN Septerna Inc. | 0.32% | 275,000 | $9.2M | No change |
| SOPH Sophia Genetics SA | 0.31% | 1,565,000 | $9.0M | Reduce -15.4% |
| NKTR Nektar Therapeutics | 0.31% | 128,362 | $9.0M | New |
| MIRM Mirum Pharmaceuticals Inc. | 0.30% | 75,000 | $8.8M | Reduce -81.3% |
| AORT Artivion Inc. | 0.30% | 388,000 | $8.7M | New |
| TNDM Tandem Diabetes Care Inc. | 0.30% | 575,000 | $8.7M | Reduce -26.6% |
| ELVN Enliven Therapeutics Inc. | 0.29% | 165,677 | $8.4M | Reduce -28.2% |
| SION Sionna Therapeutics Inc. | 0.27% | 177,687 | $7.8M | Reduce -39.5% |
| BLTE Belite Bio Inc. - ADR | 0.27% | 50,524 | $7.8M | New |
| CERS Cerus Corp. | 0.25% | 2,500,000 | $7.3M | Reduce -76.8% |
| SLN Silence Therapeutics PLC-ADR | 0.24% | 630,000 | $6.9M | New |
| IMUX Immunic Inc. | 0.24% | 450,000 | $6.9M | No change |
| IVVD Invivyd Inc. | 0.23% | 7,708,727 | $6.7M | No change |
| MRK Merck & Co. Inc. | 0.22% | 50,000 | $6.4M | Reduce -75.4% |
| RLMD Relmada Therapeutics Inc. | 0.20% | 842,106 | $5.8M | No change |
| GPCR Structure Therapeutics Inc. | 0.20% | 107,000 | $5.7M | Add +33.8% |
| EOLS Evolus Inc. | 0.20% | 822,428 | $5.7M | Reduce -63.4% |
| ANL Adlai Nortye Group Ltd. | 0.16% | 405,523 | $4.7M | New |
| ZNTL Zentalis Pharmaceuticals Inc. | 0.16% | 950,000 | $4.6M | New |
| KPTI Karyopharm Therapeutics Inc. | 0.15% | 440,000 | $4.3M | No change |
| CNTX Context Therapeutics Inc. | 0.13% | 7,063,141 | $3.9M | Add +1.4% |
| LUNG Pulmonx Corp. | 0.12% | 2,788,323 | $3.6M | No change |
| SABS Sab Biotherapeutics Inc. | 0.12% | 900,000 | $3.5M | Reduce -14.3% |
| TECX Tectonic Therapeutic Inc. | 0.12% | 101,684 | $3.5M | Reduce -16.4% |
| AXGN Axogen Inc. | 0.09% | 57,036 | $2.6M | Reduce -91.6% |
| MSLE Satellos Bioscience Inc. | 0.08% | 314,359 | $2.4M | Reduce -24.1% |
| AVBP Arrivent Biopharma Inc. | 0.06% | 50,000 | $1.7M | New |
| CORT Corcept Therapeutics Inc. | 0.06% | 19,653 | $1.7M | Reduce -93.1% |
| SLDB Solid Biosciences Inc. | 0.05% | 150,000 | $1.5M | New |
| VCYT Veracyte Inc. | 0.05% | 25,000 | $1.5M | Reduce -92.2% |
| CGEM Cullinan Therapeutics Inc. | 0.03% | 50,000 | $911K | Reduce -87.8% |
| NSPR Inspiremd Inc. | 0.03% | 1,045,708 | $732K | No change |
| WGS Genedx Holdings Corp. | 0.02% | 10,000 | $687K | New |
| IOVA Iovance Biotherapeutics Inc. | 0.02% | 150,000 | $624K | Reduce -85.0% |
| LRMR Larimar Therapeutics Inc. | 0.02% | 188,102 | $574K | Reduce -82.4% |
| CGON CG Oncology Inc. | 0.01% | 5,000 | $355K | Reduce -75.0% |
| QNRX Quoin Pharmaceuticals LT-ADR | 0.01% | 72,730 | $352K | No change |
| EQ Equillium Inc. | 0.01% | 90,000 | $288K | New |
| NTRA Natera Inc. | 0.01% | 1,000 | $271K | Reduce -99.2% |
| NEO Neogenomics Inc. | 0.01% | 10,000 | $146K | Reduce -94.3% |
Portfolio Sells Q1 2026 → Q2 2026
| PRAX Praxis Precision Medicines I | Reduce -46.3% | 2.05% | −2.26 |
| TWST Twist Bioscience Corp. | Reduce -91.5% | 0.37% | −1.99 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -74.9% | 0.34% | −1.42 |
| GMED Globus Medical Inc. Class A | Reduce -35.7% | 1.28% | −1.27 |
| EWTX Edgewise Therapeutics Inc. | Reduce -68.9% | 0.63% | −1.22 |
| MIRM Mirum Pharmaceuticals Inc. | Reduce -81.3% | 0.30% | −1.20 |
| VCEL Vericel Corp. | Reduce -42.8% | 2.24% | −1.08 |
| ALKS Alkermes PLC | Reduce -47.8% | 1.86% | −0.96 |
| NTRA Natera Inc. | Reduce -99.2% | 0.01% | −0.95 |
| PCVX Vaxcyte Inc. | Sold out | 0.00% | −0.91 |
| ICLR Icon PLC | Sold out | 0.00% | −0.86 |
| AXGN Axogen Inc. | Reduce -91.6% | 0.09% | −0.82 |
| LIVN Livanova PLC | Reduce -56.2% | 0.72% | −0.78 |
| MRK Merck & Co. Inc. | Reduce -75.4% | 0.22% | −0.77 |
| BMRN Biomarin Pharmaceutical Inc. | Reduce -42.3% | 0.74% | −0.75 |
| TVTX Travere Therapeutics Inc. | Sold out | 0.00% | −0.66 |
| CERS Cerus Corp. | Reduce -76.8% | 0.25% | −0.54 |
| KNSA Kiniksa Pharmaceuticals Inte | Reduce -52.8% | 0.54% | −0.47 |
| SNDX Syndax Pharmaceuticals Inc. | Reduce -5.7% | 1.23% | −0.41 |
| CORT Corcept Therapeutics Inc. | Reduce -93.1% | 0.06% | −0.41 |
| VIR Vir Biotechnology Inc. | Reduce -50.0% | 0.35% | −0.38 |
| VCYT Veracyte Inc. | Reduce -92.2% | 0.05% | −0.37 |
| INBX Inhibrx Biosciences Inc. | Sold out | 0.00% | −0.36 |
| DXCM Dexcom Inc. | Sold out | 0.00% | −0.36 |
| TNDM Tandem Diabetes Care Inc. | Reduce -26.6% | 0.30% | −0.31 |
| SION Sionna Therapeutics Inc. | Reduce -39.5% | 0.27% | −0.21 |
| CGEM Cullinan Therapeutics Inc. | Reduce -87.8% | 0.03% | −0.20 |
| EOLS Evolus Inc. | Reduce -63.4% | 0.20% | −0.18 |
| LRMR Larimar Therapeutics Inc. | Reduce -82.4% | 0.02% | −0.17 |
| ETON Eton Pharmaceuticals Inc. | Sold out | 0.00% | −0.17 |
| XENE Xenon Pharmaceuticals Inc. | Reduce -8.6% | 0.56% | −0.13 |
| IOVA Iovance Biotherapeutics Inc. | Reduce -85.0% | 0.02% | −0.12 |
| ELVN Enliven Therapeutics Inc. | Reduce -28.2% | 0.29% | −0.08 |
| ARWR Arrowhead Pharmaceuticals Inc. | Sold out | 0.00% | −0.07 |
| INDV Indivior Pharmaceuticals Inc. | Reduce -16.5% | 1.50% | −0.07 |
| SOPH Sophia Genetics SA | Reduce -15.4% | 0.31% | −0.06 |
| CTMX Cytomx Therapeutics Inc. | Sold out | 0.00% | −0.06 |
| NEO Neogenomics Inc. | Reduce -94.3% | 0.01% | −0.05 |
| CGON CG Oncology Inc. | Reduce -75.0% | 0.01% | −0.04 |
| SABS Sab Biotherapeutics Inc. | Reduce -14.3% | 0.12% | −0.04 |
| KRYS Krystal Biotech Inc. | Reduce -18.5% | 12.03% | −0.03 |
| TECX Tectonic Therapeutic Inc. | Reduce -16.4% | 0.12% | −0.03 |
| TRVI Trevi Therapeutics Inc. | Reduce -27.2% | 0.76% | −0.02 |
| COGT Cogent Biosciences Inc. | Sold out | 0.00% | −0.02 |
| TYRA Tyra Biosciences Inc. | Sold out | 0.00% | −0.02 |
| STAA Staar Surgical Co. | Sold out | 0.00% | −0.02 |
| ANAB Anaptysbio Inc. | Sold out | 0.00% | −0.01 |
| RAPP Rapport Therapeutics Inc. | Sold out | 0.00% | −0.01 |
| MSLE Satellos Bioscience Inc. | Reduce -24.1% | 0.08% | −0.01 |
| ZYME Zymeworks Inc. | Sold out | 0.00% | −0.01 |
Portfolio Buys Q1 2026 → Q2 2026
| RIGL Rigel Pharmaceuticals Inc. | Add +18335.0% | 2.49% | +2.47 |
| INSP Inspire Medical Systems Inc. | Add +235.1% | 2.97% | +1.77 |
| ERAS Erasca Inc. | New | 1.70% | +1.70 |
| PBLS Parabilis Medicines Inc. | New | 1.38% | +1.38 |
| LEGN Legend Biotech Corp.-ADR | New | 1.20% | +1.20 |
| UNH Unitedhealth Group Inc. | New | 1.15% | +1.15 |
| PALI Palisade Bio Inc. | New | 0.94% | +0.94 |
| RCUS Arcus Biosciences Inc. | Add +158.6% | 1.24% | +0.85 |
| SUPN Supernus Pharmaceuticals Inc. | New | 0.83% | +0.83 |
| AVTX Avalo Therapeutics Inc. | Add +274.4% | 1.05% | +0.79 |
| MBX MBX Biosciences Inc. | Add +188.0% | 0.98% | +0.76 |
| JBIO Jade Biosciences Inc. | Add +94.6% | 1.19% | +0.73 |
| PODD Insulet Corp. | Add +86.5% | 5.50% | +0.72 |
| NRIX Nurix Therapeutics Inc. | Add +56.2% | 1.22% | +0.64 |
| NVCT Nuvectis Pharma Inc. | New | 0.63% | +0.63 |
| CAPR Capricor Therapeutics Inc. | New | 0.63% | +0.63 |
| PRLD Prelude Therapeutics Inc. | New | 0.62% | +0.62 |
| PRCT Procept Biorobotics Corp. | Add +526.9% | 0.78% | +0.62 |
| BBNX Beta Bionics Inc. | Add +0.9% | 2.37% | +0.61 |
| ARGX Argenx SE - ADR | Add +470.1% | 0.64% | +0.53 |
| URGN Urogen Pharma Ltd. | Add +14.1% | 1.05% | +0.52 |
| AVLN Avalyn Pharma Inc. | New | 0.48% | +0.48 |
| SYRE Spyre Therapeutics Inc. | New | 0.45% | +0.45 |
| TNGX Tango Therapeutics Inc. | Add +57.6% | 0.76% | +0.38 |
| NKTR Nektar Therapeutics | New | 0.31% | +0.31 |
| AORT Artivion Inc. | New | 0.30% | +0.30 |
| BLTE Belite Bio Inc. - ADR | New | 0.27% | +0.27 |
| INSM Insmed Inc. | Add +780.5% | 0.33% | +0.26 |
| SLN Silence Therapeutics PLC-ADR | New | 0.24% | +0.24 |
| BDSX Biodesix Inc. | Add +40.6% | 0.46% | +0.21 |
| CELC Celcuity Inc. | Add +32.7% | 6.14% | +0.21 |
| ANL Adlai Nortye Group Ltd. | New | 0.16% | +0.16 |
| ZNTL Zentalis Pharmaceuticals Inc. | New | 0.16% | +0.16 |
| IMVT Immunovant Inc. | Add +9.6% | 0.33% | +0.10 |
| KIDS Orthopediatrics Corp. | Add +19.0% | 0.48% | +0.09 |
| PHVS Pharvaris NV | Add +4.1% | 0.87% | +0.07 |
| AVBP Arrivent Biopharma Inc. | New | 0.06% | +0.06 |
| SLDB Solid Biosciences Inc. | New | 0.05% | +0.05 |
| GPCR Structure Therapeutics Inc. | Add +33.8% | 0.20% | +0.04 |
| WGS Genedx Holdings Corp. | New | 0.02% | +0.02 |
| EQ Equillium Inc. | New | 0.01% | +0.01 |
| ANIP Ani Pharmaceuticals Inc. | Add +5.8% | 2.48% | −0.08 |
| ORGO Organogenesis Holdings Inc. | Add +0.6% | 0.85% | −0.12 |
| UTHR United Therapeutics Corp. | Add +20.5% | 4.21% | −0.28 |
| CNTX Context Therapeutics Inc. | Add +1.4% | 0.13% | −0.60 |
| GERN Geron Corp. | Add +3.1% | 1.89% | −0.62 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 97 | $2.9B | KRYS, CELC, TGTX, PODD, NVCR |
| Q1 2026 | 93 | $2.5B | KRYS, CELC, TGTX, PODD, NVCR |
| Q4 2025 | 94 | $2.4B | KRYS, CELC, NVCR, PRAX, TGTX |
| Q3 2025 | 87 | $1.9B | KRYS, TGTX, NVCR, ELV, BBNX |
| Q2 2025 | 94 | $1.4B | KRYS, NVCR, TGTX, UTHR, BBNX |
| Q1 2025 | 74 | $1.3B | TGTX, NVCR, KRYS, BMRN, ORGO |
| Q4 2024 | 80 | $1.3B | NVCR, TGTX, BMRN, KRYS, GRFS |
| Q3 2024 | 86 | $1.2B | IOVA, TGTX, TERN, AXGN, GRFS |
| Q2 2024 | 92 | $1.1B | TGTX, IOVA, UTHR, NRIX, FOCL |
| Q1 2024 | 90 | $1.1B | UTHR, FOCL, IOVA, TEVA, TGTX |