Soleus Capital Management, L.P.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Soleus Capital Management, L.P. reported 90 stock positions worth $1.1 billion. Its top holding was United Therapeutics (UTHR) at 5.2% of the portfolio, followed by Edap TMS SA -ADR (FOCL, 4.7%) and Iovance Biotherapeutics (IOVA, 4.6%). Compared with Q4 2023, it opened 31 new positions, sold out of 14, added to 28 and reduced 24. The biggest buy was Iovance Biotherapeutics (IOVA, shares +532%) and the biggest sale an exit from Rayzebio (RYZB).
- Most Recent 13F
- Q2 2026
- Location
- GREENWICH, CT
- CIK
- 0001802630
- Portfolio Value
- $1.1B (Q1 2024)
- SEC Filing
- 0001802630-24-000005 ↗ filed May 15, 2024
Holdings Value
Holdings 90 stocks · $1.1B
| UTHR United Therapeutics Corp. | 5.24% | 259,749 | $59.7M | Add +4.1% |
| FOCL Edap TMS SA -ADR | 4.67% | 7,227,353 | $53.1M | Add +0.0% |
| IOVA Iovance Biotherapeutics Inc. | 4.56% | 3,505,000 | $51.9M | Add +531.5% |
| TEVA Teva Pharmaceutical-SP ADR | 4.32% | 3,486,440 | $49.2M | Reduce -37.3% |
| TGTX TG Therapeutics Inc. | 4.23% | 3,168,456 | $48.2M | Add +387.4% |
| CELC Celcuity Inc. | 3.28% | 1,731,338 | $37.4M | Reduce -20.6% |
| JSPR Jasper Therapeutics Inc. | 3.06% | 1,187,096 | $34.9M | New |
| NPCE Neuropace Inc. | 2.82% | 2,433,168 | $32.1M | No change |
| EPIX Essa Pharma Inc. | 2.68% | 3,589,558 | $30.5M | Reduce -17.1% |
| ORGO Organogenesis Holdings Inc. | 2.39% | 9,573,198 | $27.2M | Add +6.8% |
| AXGN Axogen Inc. | 2.20% | 3,105,815 | $25.1M | Add +19.6% |
| HUM Humana Inc. | 2.19% | 72,006 | $25.0M | Reduce -2.3% |
| SRDX Surmodics Inc. | 2.06% | 800,820 | $23.5M | Add +3.8% |
| RVMD Revolution Medicines Inc. | 2.06% | 728,700 | $23.5M | Add +189.2% |
| IDYA Ideaya Biosciences Inc. | 2.06% | 533,515 | $23.4M | Reduce -5.5% |
| ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD | 2.03% | 148,100 | $23.2M | New |
| CCCC C4 Therapeutics Inc. | 1.76% | 2,458,996 | $20.1M | Add +33.9% |
| PEN Penumbra Inc. | 1.68% | 85,700 | $19.1M | Add +7.9% |
| VSTM Verastem Inc. | 1.60% | 1,540,634 | $18.2M | Add +8.1% |
| KROS Keros Therapeutics Inc. | 1.59% | 273,600 | $18.1M | New |
| TMCI Treace Medical Concepts Inc. | 1.54% | 1,345,648 | $17.6M | Add +32.7% |
| HCA HCA Healthcare Inc. | 1.51% | 51,441 | $17.2M | Reduce -49.3% |
| NRIX Nurix Therapeutics Inc. | 1.44% | 1,115,000 | $16.4M | Add +679.7% |
| CSTL Castle Biosciences Inc. | 1.41% | 725,457 | $16.1M | Add +2690.2% |
| IRMD Iradimed Corp. | 1.40% | 361,630 | $15.9M | Reduce -43.8% |
| BIIB Biogen Inc. | 1.38% | 72,800 | $15.7M | New |
| KRYS Krystal Biotech Inc. | 1.31% | 84,100 | $15.0M | Add +110.3% |
| PCVX Vaxcyte Inc. | 1.25% | 207,750 | $14.2M | Reduce -50.0% |
| BCAB Bioatla Inc. | 1.23% | 4,065,197 | $14.0M | No change |
| GSK GSK PLC-Spon ADR | 1.20% | 319,217 | $13.7M | Reduce -75.0% |
| RIGL Rigel Pharmaceuticals Inc. | 1.20% | 9,241,986 | $13.7M | Reduce -2.1% |
| ENGN Engene Holdings Inc. | 1.19% | 800,000 | $13.6M | New |
| NARI Inari Medical Inc. | 1.17% | 277,000 | $13.3M | New |
| NVCR Novocure Ltd. | 0.95% | 695,759 | $10.9M | Add +131.2% |
| TNGX Tango Therapeutics Inc. | 0.94% | 1,350,145 | $10.7M | Add +59.4% |
| APLT Applied Therapeutics Inc. | 0.93% | 1,564,916 | $10.6M | Add +239.6% |
| ACLX Arcellx Inc. | 0.92% | 150,000 | $10.4M | Reduce -5.7% |
| ENTA Enanta Pharmaceuticals Inc. | 0.89% | 580,546 | $10.1M | New |
| NUVL Nuvalent Inc. Class A | 0.85% | 129,288 | $9.7M | Reduce -60.0% |
| IMUX Immunic Inc. | 0.85% | 7,293,007 | $9.6M | Add +2331.0% |
| CGON CG Oncology Inc. | 0.84% | 217,871 | $9.6M | New |
| INHIBRX INC | 0.82% | 267,871 | $9.4M | Add +1685.8% |
| PHVS Pharvaris NV | 0.82% | 401,901 | $9.3M | Add +84.9% |
| YMAB Y-Mabs Therapeutics Inc. | 0.82% | 570,982 | $9.3M | Add +263.3% |
| MRUS Merus NV | 0.77% | 195,577 | $8.8M | Reduce -35.4% |
| SNDX Syndax Pharmaceuticals Inc. | 0.77% | 369,000 | $8.8M | Reduce -28.2% |
| MREO Mereo Biopharma Group PL-ADR | 0.76% | 2,616,953 | $8.6M | Reduce -73.2% |
| IMVT Immunovant Inc. | 0.75% | 264,650 | $8.6M | Reduce -16.5% |
| THTX Theratechnologies Inc. | 0.70% | 4,801,376 | $8.0M | No change |
| NTRA Natera Inc. | 0.70% | 87,000 | $8.0M | New |
| OLMA Olema Pharmaceuticals Inc. | 0.65% | 658,000 | $7.4M | New |
| WGS Genedx Holdings Corp. | 0.63% | 783,376 | $7.2M | Add +1205.6% |
| BHC Bausch Health Cos Inc. | 0.62% | 670,000 | $7.1M | New |
| MNKD Mannkind Corp. | 0.62% | 1,558,537 | $7.1M | New |
| MIND MEDICINE MINDMED INC | 0.62% | 750,237 | $7.1M | New |
| INSM Insmed Inc. | 0.60% | 250,000 | $6.8M | Add +49.6% |
| FATE Fate Therapeutics Inc. | 0.56% | 870,000 | $6.4M | New |
| XFOR X4 Pharmaceuticals Inc. | 0.56% | 4,579,926 | $6.4M | New |
| FDMT 4D Molecular Therapeutics Inc. | 0.55% | 197,098 | $6.3M | Add +330.8% |
| VRDN Viridian Therapeutics Inc. | 0.52% | 340,000 | $6.0M | Add +146.4% |
| JANX Janux Therapeutics Inc. | 0.52% | 157,800 | $5.9M | New |
| ORIC Oric Pharmaceuticals Inc. | 0.51% | 421,000 | $5.8M | New |
| VKTX Viking Therapeutics Inc. | 0.48% | 67,121 | $5.5M | Reduce -84.6% |
| CMPS Compass Pathways PLC | 0.41% | 565,550 | $4.7M | Reduce -41.4% |
| KALV Kalvista Pharmaceuticals Inc. | 0.40% | 386,000 | $4.6M | New |
| RGLS Regulus Therapeutics Inc. | 0.40% | 1,562,500 | $4.5M | New |
| BCYC Bicycle Therapeutics PLC-ADR | 0.33% | 153,000 | $3.8M | Add +61.0% |
| NSPR Inspiremd Inc. | 0.29% | 1,378,128 | $3.3M | No change |
| CALC Calcimedica Inc. | 0.29% | 783,904 | $3.3M | New |
| NKTX Nkarta Inc. | 0.28% | 300,000 | $3.2M | New |
| DNTH Dianthus Therapeutics Inc. | 0.26% | 100,000 | $3.0M | New |
| CRVO Cervomed Inc. | 0.26% | 126,614 | $3.0M | New |
| TSHA Taysha Gene Therapies Inc. | 0.23% | 925,000 | $2.7M | New |
| PRAX Praxis Precision Medicines I | 0.20% | 37,268 | $2.3M | New |
| EOLS Evolus Inc. | 0.20% | 160,000 | $2.2M | New |
| ARQT Arcutis Biotherapeutics Inc. | 0.20% | 225,000 | $2.2M | New |
| ANNX Annexon Inc. | 0.18% | 292,400 | $2.1M | Reduce -43.3% |
| APGE Apogee Therapeutics Inc. | 0.12% | 20,000 | $1.3M | Reduce -42.9% |
| TMDX Transmedics Group Inc. | 0.11% | 16,700 | $1.2M | Reduce -86.4% |
| RCEL Avita Medical Inc. | 0.11% | 75,000 | $1.2M | No change |
| PTGX Protagonist Therapeutics Inc. | 0.09% | 34,500 | $998K | Reduce -58.4% |
| DNLI Denali Therapeutics Inc. | 0.08% | 47,000 | $964K | Reduce -63.9% |
| CVRX CVRX Inc. | 0.08% | 48,500 | $883K | New |
| SKIN Skinhealth Systems Inc. filed as THE BEAUTY HEALTH COMPANY | 0.07% | 170,000 | $755K | Add +9.7% |
| FOLD Amicus Therapeutics Inc. | 0.06% | 57,966 | $683K | New |
| TNYA Tenaya Therapeutics Inc. | 0.06% | 122,222 | $639K | New |
| SILK Silk Road Medical Inc. filed as SILK RD MED INC | 0.02% | 10,000 | $183K | Reduce -98.1% |
| URGN Urogen Pharma Ltd. | 0.01% | 10,000 | $150K | New |
| LQDA Liquidia Corp. | 0.01% | 10,000 | $148K | No change |
| XERS Xeris Biopharma Holdings Inc. | 0.01% | 62,083 | $137K | No change |
Options reported separately and not counted above: XBI puts ($208.8M).
Portfolio Sells Q4 2023 → Q1 2024
| RYZB Rayzebio Inc. | Sold out | 0.00% | −5.15 |
| GSK GSK PLC-Spon ADR | Reduce -75.0% | 1.20% | −4.06 |
| TEVA Teva Pharmaceutical-SP ADR | Reduce -37.3% | 4.32% | −2.13 |
| IRMD Iradimed Corp. | Reduce -43.8% | 1.40% | −1.99 |
| NUVL Nuvalent Inc. Class A | Reduce -60.0% | 0.85% | −1.78 |
| MREO Mereo Biopharma Group PL-ADR | Reduce -73.2% | 0.76% | −1.75 |
| PCVX Vaxcyte Inc. | Reduce -50.0% | 1.25% | −1.65 |
| ATRC Atricure Inc. | Sold out | 0.00% | −1.55 |
| HUM Humana Inc. | Reduce -2.3% | 2.19% | −1.55 |
| HCA HCA Healthcare Inc. | Reduce -49.3% | 1.51% | −1.54 |
| SNN Smith & Nephew PLC -Spon ADR | Sold out | 0.00% | −1.42 |
| HARP Harpoon Therapeutics Inc. | Sold out | 0.00% | −1.04 |
| TMDX Transmedics Group Inc. | Reduce -86.4% | 0.11% | −0.97 |
| JSPR Jasper Therapeutics Inc. | Sold out | 0.00% | −0.86 |
| SIBN Si-Bone Inc. | Sold out | 0.00% | −0.80 |
| IMVT Immunovant Inc. | Reduce -16.5% | 0.75% | −0.73 |
| SILK Silk Road Medical Inc. | Reduce -98.1% | 0.02% | −0.71 |
| CMPS Compass Pathways PLC | Reduce -41.4% | 0.41% | −0.52 |
| CVS CVS Health Corp. | Sold out | 0.00% | −0.52 |
| EPIX Essa Pharma Inc. | Reduce -17.1% | 2.68% | −0.49 |
| SNDX Syndax Pharmaceuticals Inc. | Reduce -28.2% | 0.77% | −0.46 |
| VKTX Viking Therapeutics Inc. | Reduce -84.6% | 0.48% | −0.42 |
| RIGL Rigel Pharmaceuticals Inc. | Reduce -2.1% | 1.20% | −0.32 |
| XENE Xenon Pharmaceuticals Inc. | Sold out | 0.00% | −0.30 |
| HOLX Hologic Inc. | Sold out | 0.00% | −0.27 |
| ABBV Abbvie Inc. | Sold out | 0.00% | −0.25 |
| CELC Celcuity Inc. | Reduce -20.6% | 3.28% | −0.24 |
| DNLI Denali Therapeutics Inc. | Reduce -63.9% | 0.08% | −0.22 |
| VYNE THERAPEUTICS INC | Sold out | 0.00% | −0.18 |
| IDYA Ideaya Biosciences Inc. | Reduce -5.5% | 2.06% | −0.17 |
| MRUS Merus NV | Reduce -35.4% | 0.77% | −0.15 |
| PTGX Protagonist Therapeutics Inc. | Reduce -58.4% | 0.09% | −0.12 |
| ILMN Illumina Inc. | Sold out | 0.00% | −0.08 |
| ANNX Annexon Inc. | Reduce -43.3% | 0.18% | −0.08 |
| ACLX Arcellx Inc. | Reduce -5.7% | 0.92% | −0.06 |
| IMGN Immunogen Inc. | Sold out | 0.00% | −0.04 |
| ADVM Adverum Biotechnologies Inc. | Sold out | 0.00% | −0.04 |
| APGE Apogee Therapeutics Inc. | Reduce -42.9% | 0.12% | +0.01 |
Portfolio Buys Q4 2023 → Q1 2024
| IOVA Iovance Biotherapeutics Inc. | Add +531.5% | 4.56% | +4.06 |
| JSPR Jasper Therapeutics Inc. | New | 3.06% | +3.06 |
| TGTX TG Therapeutics Inc. | Add +387.4% | 4.23% | +3.00 |
| ONC Beone Medicines Ltd.-ADR | New | 2.03% | +2.03 |
| KROS Keros Therapeutics Inc. | New | 1.59% | +1.59 |
| BIIB Biogen Inc. | New | 1.38% | +1.38 |
| CSTL Castle Biosciences Inc. | Add +2690.2% | 1.41% | +1.35 |
| NRIX Nurix Therapeutics Inc. | Add +679.7% | 1.44% | +1.28 |
| RVMD Revolution Medicines Inc. | Add +189.2% | 2.06% | +1.26 |
| ENGN Engene Holdings Inc. | New | 1.19% | +1.19 |
| NARI Inari Medical Inc. | New | 1.17% | +1.17 |
| ENTA Enanta Pharmaceuticals Inc. | New | 0.89% | +0.89 |
| CGON CG Oncology Inc. | New | 0.84% | +0.84 |
| IMUX Immunic Inc. | Add +2331.0% | 0.85% | +0.80 |
| KRYS Krystal Biotech Inc. | Add +110.3% | 1.31% | +0.76 |
| APLT Applied Therapeutics Inc. | Add +239.6% | 0.93% | +0.76 |
| INHIBRX INC | Add +1685.8% | 0.82% | +0.76 |
| NTRA Natera Inc. | New | 0.70% | +0.70 |
| YMAB Y-Mabs Therapeutics Inc. | Add +263.3% | 0.82% | +0.70 |
| OLMA Olema Pharmaceuticals Inc. | New | 0.65% | +0.65 |
| BHC Bausch Health Cos Inc. | New | 0.62% | +0.62 |
| MNKD Mannkind Corp. | New | 0.62% | +0.62 |
| MIND MEDICINE MINDMED INC | New | 0.62% | +0.62 |
| CCCC C4 Therapeutics Inc. | Add +33.9% | 1.76% | +0.61 |
| WGS Genedx Holdings Corp. | Add +1205.6% | 0.63% | +0.61 |
| FATE Fate Therapeutics Inc. | New | 0.56% | +0.56 |
| XFOR X4 Pharmaceuticals Inc. | New | 0.56% | +0.56 |
| JANX Janux Therapeutics Inc. | New | 0.52% | +0.52 |
| ORIC Oric Pharmaceuticals Inc. | New | 0.51% | +0.51 |
| NVCR Novocure Ltd. | Add +131.2% | 0.95% | +0.46 |
| FDMT 4D Molecular Therapeutics Inc. | Add +330.8% | 0.55% | +0.45 |
| FOCL Edap TMS SA -ADR | Add +0.0% | 4.67% | +0.43 |
| KALV Kalvista Pharmaceuticals Inc. | New | 0.40% | +0.40 |
| RGLS Regulus Therapeutics Inc. | New | 0.40% | +0.40 |
| VSTM Verastem Inc. | Add +8.1% | 1.60% | +0.31 |
| CALC Calcimedica Inc. | New | 0.29% | +0.29 |
| NKTX Nkarta Inc. | New | 0.28% | +0.28 |
| DNTH Dianthus Therapeutics Inc. | New | 0.26% | +0.26 |
| CRVO Cervomed Inc. | New | 0.26% | +0.26 |
| AXGN Axogen Inc. | Add +19.6% | 2.20% | +0.23 |
| TSHA Taysha Gene Therapies Inc. | New | 0.23% | +0.23 |
| PRAX Praxis Precision Medicines I | New | 0.20% | +0.20 |
| EOLS Evolus Inc. | New | 0.20% | +0.20 |
| ARQT Arcutis Biotherapeutics Inc. | New | 0.20% | +0.20 |
| VRDN Viridian Therapeutics Inc. | Add +146.4% | 0.52% | +0.19 |
| BCYC Bicycle Therapeutics PLC-ADR | Add +61.0% | 0.33% | +0.14 |
| PHVS Pharvaris NV | Add +84.9% | 0.82% | +0.14 |
| TMCI Treace Medical Concepts Inc. | Add +32.7% | 1.54% | +0.11 |
| CVRX CVRX Inc. | New | 0.08% | +0.08 |
| FOLD Amicus Therapeutics Inc. | New | 0.06% | +0.06 |
Options Activity Q4 2023 → Q1 2024
| XBI SS SPDR S&P Biotech ETF | put | New | 2,200,000 | $208.8M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
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 |