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Livermore
Livermore
ZHEN

Soleus Capital Management, L.P.

SEC CIK
0001802630
Latest filing
Aug 11, 2026

The latest 13F from Soleus Capital Management, L.P. covers Q2 2026 (filed Aug 11, 2026): 97 long positions worth $2.90B. The top 10 holdings make up 48.9% of the portfolio, and the largest is Krystal Biotech, Inc. (KRYS) at 12.0%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
21
Est. +$336.5M
Added
25
Est. +$434.1M
Reduced
41
Est. −$835.2M
Sold out
17
Est. −$87.5M

Top 5 holdings

Share of this quarter's portfolio value

  1. KRYSKrystal Biotech, Inc.
    12.0%$349.1MHistory
  2. CELCCelcuity Inc.
    6.1%$178.3MHistory
  3. TGTXTG Therapeutics, Inc.
    5.5%$160.9MHistory
  4. PODDInsulet Corp
    5.5%$159.7MHistory
  5. NVCRNovoCure Ltd
    5.2%$150.2MHistory

Share of portfolio

Top 5 holdings and the other 92 positions, by share of portfolio value

  1. KRYS12.0%
  2. CELC6.1%
  3. TGTX5.5%
  4. PODD5.5%
  5. NVCR5.2%
  6. Other 92 positions65.6%

Biggest buys

New and added positions, by estimated amount bought

  1. PODDInsulet Corp
    +$74.1MAddedHistory
  2. RIGLRigel Pharmaceuticals Inc
    +$71.7MAddedHistory
  3. INSPInspire Medical Systems, Inc.
    +$60.5MAddedHistory
  4. ERASErasca, Inc.
    +$49.5MNewHistory
  5. CELCCelcuity Inc.
    +$43.9MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. RIGLRigel Pharmaceuticals Inc
    +2.47 pp<0.1% → 2.5%History
  2. INSPInspire Medical Systems, Inc.
    +1.77 pp1.2% → 3.0%History
  3. ERASErasca, Inc.
    +1.70 pp0.0% → 1.7%History
  4. PBLSParabilis Medicines, Inc.
    +1.38 pp0.0% → 1.4%History
  5. LEGNLegend Biotech Corp
    +1.20 pp0.0% → 1.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. TWSTTwist Bioscience Corp
    −$115.4MReducedHistory
  2. KRYSKrystal Biotech, Inc.
    −$79.5MReducedHistory
  3. TGTXTG Therapeutics, Inc.
    −$60.5MReducedHistory
  4. PRAXPraxis Precision Medicines, Inc.
    −$51.2MReducedHistory
  5. ALKSAlkermes plc.
    −$49.3MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. PRAXPraxis Precision Medicines, Inc.
    −2.26 pp4.3% → 2.0%History
  2. TWSTTwist Bioscience Corp
    −1.99 pp2.4% → 0.4%History
  3. ALNYAlnylam Pharmaceuticals, Inc.
    −1.42 pp1.8% → 0.3%History
  4. GMEDGlobus Medical Inc
    −1.27 pp2.5% → 1.3%History
  5. EWTXEdgewise Therapeutics, Inc.
    −1.22 pp1.8% → 0.6%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$2.90B
+$432.8M (+17.5%) vs. prior quarter
Positions
97
+4 vs. prior quarter
Top 10 concentration
48.9%
Top 10 as share of value
Turnover
28.7%
Q2 2026, one quarter
Average holding period
9.8 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $2.90B (Q2 2026)

Q1 2021: $555.0MQ2 2021: $650.3MQ3 2021: $641.7MQ4 2021: $741.1MQ1 2022: $648.6MQ2 2022: $624.3MQ3 2022: $736.0MQ4 2022: $697.1MQ1 2023: $807.2MQ2 2023: $899.5MQ3 2023: $992.6MQ4 2023: $901.2MQ1 2024: $1.14BQ2 2024: $1.13BQ3 2024: $1.20BQ4 2024: $1.32BQ1 2025: $1.28BQ2 2025: $1.45BQ3 2025: $1.87BQ4 2025: $2.36BQ1 2026: $2.47BQ2 2026: $2.90B
Q1 2021Q2 2026
13F filings of Soleus Capital Management, L.P. by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 11, 202697$2.90BKRYSCELCTGTXvs. Q1 2026SEC
Q1 2026May 14, 202693$2.47BKRYSCELCTGTXvs. Q4 2025SEC
Q4 2025Feb 12, 202694$2.36BKRYSCELCNVCRvs. Q3 2025SEC
Q3 2025Nov 14, 202587$1.87BKRYSTGTXNVCRvs. Q2 2025SEC
Q2 2025Aug 15, 202594$1.45BKRYSNVCRTGTXvs. Q1 2025SEC
Q1 2025May 15, 202574$1.28BTGTXNVCRKRYSvs. Q4 2024SEC
Q4 2024Feb 14, 202580$1.32BNVCRTGTXBMRNvs. Q3 2024SEC
Q3 2024Nov 14, 202486$1.20BIOVATGTXTERNvs. Q2 2024SEC
Q2 2024Aug 14, 202492$1.13BTGTXIOVAUTHRvs. Q1 2024SEC
Q1 2024May 15, 202490$1.14BUTHRFOCLIOVAvs. Q4 2023SEC
Q4 2023Feb 14, 202473$901.2MTEVAUTHRGSKvs. Q3 2023SEC
Q3 2023Nov 14, 202390$992.6MUTHRTEVAFOCLvs. Q2 2023SEC
Q2 2023Aug 14, 2023101$899.5MUTHRFOCLCRLvs. Q1 2023SEC
Q1 2023May 15, 202376$807.2MFOCLISEEACLXvs. Q4 2022SEC
Q4 2022Feb 14, 202372$697.1MFOCLISEEUTHRvs. Q3 2022SEC
Q3 2022Nov 14, 202276$736.0MUTHRISEEFOCLvs. Q2 2022SEC
Q2 2022Aug 15, 202271$624.3MUTHRSKINORGOvs. Q1 2022SEC
Q1 2022May 16, 202264$648.6MUTHREPIXSRDXvs. Q4 2021SEC
Q4 2021Feb 14, 202266$741.1MLNTHEPIXBCABvs. Q3 2021SEC
Q3 2021Nov 15, 202172$641.7MBCABCCCCLNTHvs. Q2 2021SEC
Q2 2021Aug 16, 202165$650.3MBCABEPIXCCCCvs. Q1 2021SEC
Q1 2021May 17, 202172$555.0MBCABEPIXTheratechnologies Inc–SEC

13D and 13G filings

Companies where Soleus Capital Management, L.P. reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

Soleus Capital Management, L.P. does not currently report owning 5% or more of any company.

Latest filings

66 filings on file made by Soleus Capital Management, L.P. or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Soleus Capital Management, L.P.
CompanyFiled (ET)FilerFormStakeChangeEvent dateFiling
EOLSEvolus, Inc.Aug 31, 20264:31 PM ETSoleus Capital Master Fund, L.P.and 5 others13G5.30%3.48M sharesNewAug 27, 2026SEC
PCSAProcessa Pharmaceuticals, Inc.Aug 18, 20265:00 PM ETSoleus Capital Master Fund, L.P.and 5 others13G5.80%160.9K sharesNewAug 3, 2026SEC
PALIPalisade Bio, Inc.Aug 13, 20269:00 AM ETSoleus Capital Master Fund, L.P.and 5 others13G/A7.50%13.1M shares+2.10 ppfrom 5.40%Jun 30, 2026SEC
INSPInspire Medical Systems, Inc.Aug 13, 20269:00 AM ETSoleus Capital Master Fund, L.P.and 5 others13G/A6.70%1.93M shares+1.60 ppfrom 5.10%Jun 30, 2026SEC
IMUXImmunic, Inc.Aug 13, 20269:00 AM ETSoleus Capital Master Fund, L.P.and 5 others13G/A4.90%679.2K shares–Below 5%Jun 30, 2026SEC
RIGLRigel Pharmaceuticals IncAug 13, 20269:00 AM ETSoleus Capital Master Fund, L.P.and 5 others13G/A9.90%1.84M shares+4.70 ppfrom 5.20%Jun 30, 2026SEC
CERSCerus CorpAug 13, 20269:00 AM ETSoleus Capital Master Fund, L.P.and 5 others13G/A1.20%2.50M shares−3.90 ppfrom 5.10%Below 5%Jun 30, 2026SEC
VCELVericel CorpAug 13, 20269:00 AM ETSoleus Capital Master Fund, L.P.and 5 others13G/A2.80%1.46M shares−2.20 ppfrom 5.00%Below 5%Jun 30, 2026SEC
NVCTNuvectis Pharma, Inc.Aug 6, 202611:19 AM ETSoleus Private Equity Fund III, L.P.and 8 others13G5.10%1.65M sharesNewAug 4, 2026SEC
PRLDPrelude Therapeutics IncJul 8, 20265:20 PM ETSoleus Private Equity Fund III, L.P.and 8 others13G5.20%3.38M sharesNewApr 21, 2026SEC
BDSXBiodesix IncJun 18, 20265:00 PM ETSoleus Capital Master Fund, L.P.and 5 others13G5.10%525.2K shares+1.00 ppfrom 4.10%Jun 17, 2026SEC
PALIPalisade Bio, Inc.May 27, 20265:00 PM ETSoleus Capital Master Fund, L.P.and 5 others13G5.40%9.35M sharesNewMay 26, 2026SEC
INSPInspire Medical Systems, Inc.May 27, 20265:00 PM ETSoleus Capital Master Fund, L.P.and 5 others13G5.10%1.47M sharesNewMay 26, 2026SEC
NVCRNovoCure LtdMay 8, 20265:01 PM ETSoleus Capital Master Fund, L.P.and 5 others13G/A9.10%10.5M shares+1.50 ppfrom 7.60%Mar 31, 2026SEC
JSPRJasper Therapeutics, Inc.May 8, 20265:01 PM ETSoleus Capital Master Fund, L.P.and 8 others13G/A1.00%276.3K shares−8.96 ppfrom 9.96%Below 5%Mar 31, 2026SEC
GERNGeron CorpMay 8, 20265:01 PM ETSoleus Capital Master Fund, L.P.and 5 others13G/A6.50%41.5M shares+1.30 ppfrom 5.20%Mar 31, 2026SEC
CNTXContext Therapeutics Inc.May 8, 20265:00 PM ETSoleus Capital Master Fund, L.P.and 5 others13G/A7.60%6.96M shares+2.40 ppfrom 5.20%Mar 31, 2026SEC
CALCCalciMedica, Inc.May 8, 20265:00 PM ETSoleus Private Equity Fund III, L.P.and 8 others13G/A2.40%392.0K shares−5.10 ppfrom 7.50%Below 5%Mar 31, 2026SEC
BDSXBiodesix IncMay 8, 20265:00 PM ETSoleus Capital Master Fund, L.P.and 5 others13G/A4.10%416.6K shares−2.20 ppfrom 6.30%Below 5%Mar 31, 2026SEC
BBNXBeta Bionics, Inc.May 8, 20265:00 PM ETSoleus Capital Group, LLCand 8 others13G/A9.80%4.35M shares–Mar 31, 2026SEC