Soleus Capital Management, L.P.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Soleus Capital Management, L.P. reported 92 stock positions worth $1.1 billion. Its top holding was TG Therapeutics (TGTX) at 5.7% of the portfolio, followed by Iovance Biotherapeutics (IOVA, 5.3%) and United Therapeutics (UTHR, 4.0%). Compared with Q1 2024, it opened 24 new positions, sold out of 22, added to 33 and reduced 25. The biggest buy was a new position in Terns Pharmaceuticals (TERN) and the biggest sale Teva Pharmaceutical-SP ADR (TEVA, shares −83%).
- Most Recent 13F
- Q2 2026
- Location
- GREENWICH, CT
- CIK
- 0001802630
- Portfolio Value
- $1.1B (Q2 2024)
- SEC Filing
- 0001802630-24-000008 ↗ filed Aug 14, 2024
Holdings Value
Holdings 92 stocks · $1.1B
| TGTX TG Therapeutics Inc. | 5.72% | 3,645,562 | $64.9M | Add +15.1% |
| IOVA Iovance Biotherapeutics Inc. | 5.34% | 7,548,000 | $60.5M | Add +115.3% |
| UTHR United Therapeutics Corp. | 3.98% | 141,499 | $45.1M | Reduce -45.5% |
| NRIX Nurix Therapeutics Inc. | 3.78% | 2,055,916 | $42.9M | Add +84.4% |
| FOCL Edap TMS SA -ADR | 3.50% | 7,293,728 | $39.7M | Add +0.9% |
| TERN Terns Pharmaceuticals Inc. | 2.97% | 4,947,738 | $33.7M | New |
| RVMD Revolution Medicines Inc. | 2.93% | 856,178 | $33.2M | Add +17.5% |
| SRDX Surmodics Inc. | 2.90% | 781,777 | $32.9M | Reduce -2.4% |
| ORGO Organogenesis Holdings Inc. | 2.84% | 11,518,954 | $32.3M | Add +20.3% |
| JSPR Jasper Therapeutics Inc. | 2.55% | 1,276,190 | $29.0M | Add +7.5% |
| IDYA Ideaya Biosciences Inc. | 2.15% | 694,069 | $24.4M | Add +30.1% |
| AXGN Axogen Inc. | 2.11% | 3,305,815 | $23.9M | Add +6.4% |
| KRYS Krystal Biotech Inc. | 2.04% | 126,000 | $23.1M | Add +49.8% |
| MRUS Merus NV | 1.96% | 376,321 | $22.3M | Add +92.4% |
| PEN Penumbra Inc. | 1.96% | 123,450 | $22.2M | Add +44.0% |
| EPIX Essa Pharma Inc. | 1.95% | 4,210,537 | $22.1M | Add +17.3% |
| PRAX Praxis Precision Medicines I | 1.94% | 533,015 | $22.0M | Add +1330.2% |
| CELC Celcuity Inc. | 1.75% | 1,211,187 | $19.8M | Reduce -30.0% |
| NARI Inari Medical Inc. | 1.73% | 408,373 | $19.7M | Add +47.4% |
| ONC Beone Medicines Ltd.-ADR filed as BEIGENE LTD | 1.73% | 137,700 | $19.6M | Reduce -7.0% |
| CCCC C4 Therapeutics Inc. | 1.65% | 4,051,996 | $18.7M | Add +64.8% |
| CSTL Castle Biosciences Inc. | 1.64% | 853,628 | $18.6M | Add +17.7% |
| NPCE Neuropace Inc. | 1.62% | 2,433,168 | $18.4M | No change |
| ELVN Enliven Therapeutics Inc. | 1.59% | 769,263 | $18.0M | New |
| ALNY Alnylam Pharmaceuticals Inc. | 1.54% | 71,700 | $17.4M | New |
| SNDX Syndax Pharmaceuticals Inc. | 1.50% | 826,500 | $17.0M | Add +124.0% |
| HUM Humana Inc. | 1.46% | 44,356 | $16.6M | Reduce -38.4% |
| GSK GSK PLC-Spon ADR | 1.41% | 415,000 | $16.0M | Add +30.0% |
| TMCI Treace Medical Concepts Inc. | 1.39% | 2,365,648 | $15.7M | Add +75.8% |
| PCVX Vaxcyte Inc. | 1.23% | 185,250 | $14.0M | Reduce -10.8% |
| TXG 10X Genomics Inc. Class A | 1.23% | 719,000 | $14.0M | New |
| CGON CG Oncology Inc. | 1.18% | 424,585 | $13.4M | Add +94.9% |
| NUVL Nuvalent Inc. Class A | 1.15% | 171,788 | $13.0M | Add +32.9% |
| EOLS Evolus Inc. | 1.10% | 1,152,000 | $12.5M | Add +620.0% |
| ENTA Enanta Pharmaceuticals Inc. | 0.91% | 799,546 | $10.4M | Add +37.7% |
| ALEC Alector Inc. | 0.90% | 2,239,006 | $10.2M | New |
| KROS Keros Therapeutics Inc. | 0.89% | 221,600 | $10.1M | Reduce -19.0% |
| TEVA Teva Pharmaceutical-SP ADR | 0.84% | 586,499 | $9.5M | Reduce -83.2% |
| ACLX Arcellx Inc. | 0.83% | 170,741 | $9.4M | Add +13.8% |
| BDSX Biodesix Inc. | 0.82% | 6,111,964 | $9.4M | New |
| TNGX Tango Therapeutics Inc. | 0.79% | 1,049,895 | $9.0M | Reduce -22.2% |
| KIDS Orthopediatrics Corp. | 0.79% | 309,500 | $8.9M | New |
| RIGL Rigel Pharmaceuticals Inc. | 0.76% | 1,043,697 | $8.6M | Add +12.9% |
| BHC Bausch Health Cos Inc. | 0.74% | 1,206,000 | $8.4M | Add +80.0% |
| IMUX Immunic Inc. | 0.71% | 7,293,007 | $8.1M | No change |
| YMAB Y-Mabs Therapeutics Inc. | 0.69% | 647,982 | $7.8M | Add +13.5% |
| ENGN Engene Holdings Inc. | 0.67% | 800,000 | $7.5M | No change |
| PHVS Pharvaris NV | 0.66% | 399,430 | $7.5M | Reduce -0.6% |
| AVDL Avadel Pharmaceuticals Ltd. | 0.63% | 509,000 | $7.2M | New |
| DYN Dyne Therapeutics Inc. | 0.63% | 201,000 | $7.1M | New |
| CVRX CVRX Inc. | 0.62% | 587,098 | $7.0M | Add +1110.5% |
| INSM Insmed Inc. | 0.61% | 102,472 | $6.9M | Reduce -59.0% |
| HIMS Hims & Hers Health Inc. | 0.59% | 333,000 | $6.7M | New |
| THTX Theratechnologies Inc. | 0.59% | 4,801,376 | $6.7M | No change |
| IMVT Immunovant Inc. | 0.59% | 251,900 | $6.7M | Reduce -4.8% |
| ADPT Adaptive Biotechnologies | 0.55% | 1,720,000 | $6.2M | New |
| APLT Applied Therapeutics Inc. | 0.52% | 1,269,714 | $5.9M | Reduce -18.9% |
| GMED Globus Medical Inc. Class A | 0.52% | 86,000 | $5.9M | New |
| JAZZ Jazz Pharmaceuticals PLC | 0.51% | 53,935 | $5.8M | New |
| BCAB Bioatla Inc. | 0.47% | 3,901,314 | $5.3M | Reduce -4.0% |
| ERAS Erasca Inc. | 0.45% | 2,162,162 | $5.1M | New |
| VSTM Verastem Inc. | 0.44% | 1,661,297 | $5.0M | Add +7.8% |
| MREO Mereo Biopharma Group PL-ADR | 0.40% | 1,246,953 | $4.5M | Reduce -52.4% |
| IRMD Iradimed Corp. | 0.40% | 102,067 | $4.5M | Reduce -71.8% |
| VRDN Viridian Therapeutics Inc. | 0.39% | 340,000 | $4.4M | No change |
| EXAS Exact Sciences Corp. | 0.34% | 91,611 | $3.9M | New |
| PODD Insulet Corp. | 0.33% | 18,800 | $3.8M | New |
| KNSA Kiniksa Pharmaceuticals Inte | 0.33% | 200,000 | $3.7M | New |
| NSPR Inspiremd Inc. | 0.30% | 1,378,128 | $3.4M | No change |
| CALC Calcimedica Inc. | 0.27% | 783,904 | $3.1M | No change |
| SKIN Skinhealth Systems Inc. filed as THE BEAUTY HEALTH COMPANY | 0.27% | 1,604,718 | $3.1M | Add +844.0% |
| SNY Sanofi-ADR | 0.27% | 62,500 | $3.0M | New |
| FATE Fate Therapeutics Inc. | 0.25% | 870,000 | $2.9M | No change |
| XFOR X4 Pharmaceuticals Inc. | 0.21% | 4,051,000 | $2.3M | Reduce -11.6% |
| OLMA Olema Pharmaceuticals Inc. | 0.21% | 216,500 | $2.3M | Reduce -67.1% |
| JANX Janux Therapeutics Inc. | 0.20% | 55,500 | $2.3M | Reduce -64.8% |
| FDMT 4D Molecular Therapeutics Inc. | 0.20% | 108,598 | $2.3M | Reduce -44.9% |
| WGS Genedx Holdings Corp. | 0.20% | 87,000 | $2.3M | Reduce -88.9% |
| CRVO Cervomed Inc. | 0.19% | 126,614 | $2.2M | No change |
| RCEL Avita Medical Inc. | 0.19% | 267,000 | $2.1M | Add +256.0% |
| NVCR Novocure Ltd. | 0.16% | 108,900 | $1.9M | Reduce -84.3% |
| INBX Inhibrx Biosciences Inc. | 0.11% | 88,470 | $1.3M | Add +32.1% |
| ORIC Oric Pharmaceuticals Inc. | 0.10% | 163,000 | $1.2M | Reduce -61.3% |
| ADVM Adverum Biotechnologies Inc. | 0.09% | 147,246 | $1.0M | New |
| ESTA Establishment Labs Holdings | 0.06% | 15,000 | $682K | New |
| OFIX Orthofix Medical Inc. | 0.06% | 51,000 | $676K | New |
| MDXG Mimedx Group Inc. | 0.05% | 82,884 | $574K | New |
| WHWK Whitehawk Therapeutics Inc. filed as AADI BIOSCIENCE INC | 0.04% | 333,227 | $487K | New |
| BCYC Bicycle Therapeutics PLC-ADR | 0.04% | 23,500 | $476K | Reduce -84.6% |
| NTRA Natera Inc. | 0.03% | 3,600 | $390K | Reduce -95.9% |
| IOBTQ Io Biotech Inc. | 0.02% | 192,670 | $225K | New |
| XERS Xeris Biopharma Holdings Inc. | 0.01% | 62,083 | $140K | No change |
Portfolio Sells Q1 2024 → Q2 2024
| TEVA Teva Pharmaceutical-SP ADR | Reduce -83.2% | 0.84% | −3.48 |
| CELC Celcuity Inc. | Reduce -30.0% | 1.75% | −1.53 |
| HCA HCA Healthcare Inc. | Sold out | 0.00% | −1.51 |
| BIIB Biogen Inc. | Sold out | 0.00% | −1.38 |
| UTHR United Therapeutics Corp. | Reduce -45.5% | 3.98% | −1.27 |
| IRMD Iradimed Corp. | Reduce -71.8% | 0.40% | −1.00 |
| NVCR Novocure Ltd. | Reduce -84.3% | 0.16% | −0.79 |
| BCAB Bioatla Inc. | Reduce -4.0% | 0.47% | −0.76 |
| HUM Humana Inc. | Reduce -38.4% | 1.46% | −0.73 |
| KROS Keros Therapeutics Inc. | Reduce -19.0% | 0.89% | −0.70 |
| NTRA Natera Inc. | Reduce -95.9% | 0.03% | −0.66 |
| MNKD Mannkind Corp. | Sold out | 0.00% | −0.62 |
| MIND MEDICINE MINDMED INC | Sold out | 0.00% | −0.62 |
| VKTX Viking Therapeutics Inc. | Sold out | 0.00% | −0.48 |
| OLMA Olema Pharmaceuticals Inc. | Reduce -67.1% | 0.21% | −0.45 |
| WGS Genedx Holdings Corp. | Reduce -88.9% | 0.20% | −0.43 |
| CMPS Compass Pathways PLC | Sold out | 0.00% | −0.41 |
| APLT Applied Therapeutics Inc. | Reduce -18.9% | 0.52% | −0.41 |
| ORIC Oric Pharmaceuticals Inc. | Reduce -61.3% | 0.10% | −0.41 |
| KALV Kalvista Pharmaceuticals Inc. | Sold out | 0.00% | −0.40 |
| RGLS Regulus Therapeutics Inc. | Sold out | 0.00% | −0.40 |
| MREO Mereo Biopharma Group PL-ADR | Reduce -52.4% | 0.40% | −0.36 |
| XFOR X4 Pharmaceuticals Inc. | Reduce -11.6% | 0.21% | −0.35 |
| FDMT 4D Molecular Therapeutics Inc. | Reduce -44.9% | 0.20% | −0.35 |
| JANX Janux Therapeutics Inc. | Reduce -64.8% | 0.20% | −0.32 |
| ONC Beone Medicines Ltd.-ADR | Reduce -7.0% | 1.73% | −0.30 |
| BCYC Bicycle Therapeutics PLC-ADR | Reduce -84.6% | 0.04% | −0.29 |
| NKTX Nkarta Inc. | Sold out | 0.00% | −0.28 |
| DNTH Dianthus Therapeutics Inc. | Sold out | 0.00% | −0.26 |
| TSHA Taysha Gene Therapies Inc. | Sold out | 0.00% | −0.23 |
| ARQT Arcutis Biotherapeutics Inc. | Sold out | 0.00% | −0.20 |
| ANNX Annexon Inc. | Sold out | 0.00% | −0.18 |
| IMVT Immunovant Inc. | Reduce -4.8% | 0.59% | −0.16 |
| PHVS Pharvaris NV | Reduce -0.6% | 0.66% | −0.15 |
| TNGX Tango Therapeutics Inc. | Reduce -22.2% | 0.79% | −0.15 |
| APGE Apogee Therapeutics Inc. | Sold out | 0.00% | −0.12 |
| TMDX Transmedics Group Inc. | Sold out | 0.00% | −0.11 |
| PTGX Protagonist Therapeutics Inc. | Sold out | 0.00% | −0.09 |
| DNLI Denali Therapeutics Inc. | Sold out | 0.00% | −0.08 |
| FOLD Amicus Therapeutics Inc. | Sold out | 0.00% | −0.06 |
| TNYA Tenaya Therapeutics Inc. | Sold out | 0.00% | −0.06 |
| SILK Silk Road Medical Inc. | Sold out | 0.00% | −0.02 |
| URGN Urogen Pharma Ltd. | Sold out | 0.00% | −0.01 |
| LQDA Liquidia Corp. | Sold out | 0.00% | −0.01 |
| PCVX Vaxcyte Inc. | Reduce -10.8% | 1.23% | −0.01 |
| INSM Insmed Inc. | Reduce -59.0% | 0.61% | +0.01 |
| SRDX Surmodics Inc. | Reduce -2.4% | 2.90% | +0.83 |
Portfolio Buys Q1 2024 → Q2 2024
| TERN Terns Pharmaceuticals Inc. | New | 2.97% | +2.97 |
| NRIX Nurix Therapeutics Inc. | Add +84.4% | 3.78% | +2.34 |
| PRAX Praxis Precision Medicines I | Add +1330.2% | 1.94% | +1.74 |
| ELVN Enliven Therapeutics Inc. | New | 1.59% | +1.59 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 1.54% | +1.54 |
| TGTX TG Therapeutics Inc. | Add +15.1% | 5.72% | +1.49 |
| TXG 10X Genomics Inc. Class A | New | 1.23% | +1.23 |
| MRUS Merus NV | Add +92.4% | 1.96% | +1.19 |
| EOLS Evolus Inc. | Add +620.0% | 1.10% | +0.91 |
| ALEC Alector Inc. | New | 0.90% | +0.90 |
| RVMD Revolution Medicines Inc. | Add +17.5% | 2.93% | +0.87 |
| BDSX Biodesix Inc. | New | 0.82% | +0.82 |
| KIDS Orthopediatrics Corp. | New | 0.79% | +0.79 |
| IOVA Iovance Biotherapeutics Inc. | Add +115.3% | 5.34% | +0.78 |
| KRYS Krystal Biotech Inc. | Add +49.8% | 2.04% | +0.73 |
| SNDX Syndax Pharmaceuticals Inc. | Add +124.0% | 1.50% | +0.73 |
| AVDL Avadel Pharmaceuticals Ltd. | New | 0.63% | +0.63 |
| DYN Dyne Therapeutics Inc. | New | 0.63% | +0.63 |
| HIMS Hims & Hers Health Inc. | New | 0.59% | +0.59 |
| NARI Inari Medical Inc. | Add +47.4% | 1.73% | +0.57 |
| ADPT Adaptive Biotechnologies | New | 0.55% | +0.55 |
| CVRX CVRX Inc. | Add +1110.5% | 0.62% | +0.54 |
| GMED Globus Medical Inc. Class A | New | 0.52% | +0.52 |
| JAZZ Jazz Pharmaceuticals PLC | New | 0.51% | +0.51 |
| ORGO Organogenesis Holdings Inc. | Add +20.3% | 2.84% | +0.46 |
| ERAS Erasca Inc. | New | 0.45% | +0.45 |
| CGON CG Oncology Inc. | Add +94.9% | 1.18% | +0.34 |
| EXAS Exact Sciences Corp. | New | 0.34% | +0.34 |
| PODD Insulet Corp. | New | 0.33% | +0.33 |
| KNSA Kiniksa Pharmaceuticals Inte | New | 0.33% | +0.33 |
| NUVL Nuvalent Inc. Class A | Add +32.9% | 1.15% | +0.30 |
| PEN Penumbra Inc. | Add +44.0% | 1.96% | +0.28 |
| SNY Sanofi-ADR | New | 0.27% | +0.27 |
| CSTL Castle Biosciences Inc. | Add +17.7% | 1.64% | +0.23 |
| GSK GSK PLC-Spon ADR | Add +30.0% | 1.41% | +0.21 |
| SKIN Skinhealth Systems Inc. | Add +844.0% | 0.27% | +0.21 |
| BHC Bausch Health Cos Inc. | Add +80.0% | 0.74% | +0.12 |
| IDYA Ideaya Biosciences Inc. | Add +30.1% | 2.15% | +0.09 |
| ADVM Adverum Biotechnologies Inc. | New | 0.09% | +0.09 |
| RCEL Avita Medical Inc. | Add +256.0% | 0.19% | +0.08 |
| ESTA Establishment Labs Holdings | New | 0.06% | +0.06 |
| OFIX Orthofix Medical Inc. | New | 0.06% | +0.06 |
| MDXG Mimedx Group Inc. | New | 0.05% | +0.05 |
| WHWK Whitehawk Therapeutics Inc. | New | 0.04% | +0.04 |
| ENTA Enanta Pharmaceuticals Inc. | Add +37.7% | 0.91% | +0.02 |
| IOBTQ Io Biotech Inc. | New | 0.02% | +0.02 |
| ACLX Arcellx Inc. | Add +13.8% | 0.83% | −0.09 |
| AXGN Axogen Inc. | Add +6.4% | 2.11% | −0.09 |
| CCCC C4 Therapeutics Inc. | Add +64.8% | 1.65% | −0.11 |
| YMAB Y-Mabs Therapeutics Inc. | Add +13.5% | 0.69% | −0.13 |
Options Activity Q1 2024 → Q2 2024
| XBI SS SPDR S&P Biotech ETF | put | Sold out | 2,200,000 | $208.8Mbefore exit |
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 |