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Funds (13F)

Soleus Capital Management, L.P.

Backtest from 21 Feb 2020 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+9.8%
S&P 500 +14.6%
Last 12 months
+22.3%
S&P 500 +12.1%
Sharpe ratio
0.36
S&P 500 0.66
Biggest drop
−43.0%
S&P 500 −31.0%
$10.0k$20.0k 2020202120222023202420252026 $24.9k$18.7k
StrategyS&P 500 $10,000 in Soleus Capital Management, L.P. from 21 Feb 2020 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Soleus Capital Management, L.P.'s quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Soleus Capital Management, L.P.'s 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+9.8%+14.6%
Total return+87%+149%
Last 12 months+22.3%+12.1%
Last 3 months−6.3%—
Last month−2.7%—
This year so far+5.5%—
Volatility a year29.7%18.9%
Sharpe ratio0.360.66
Biggest drop−43.0%−31.0%
Beta to the S&P 5001.051.00
Alpha a year (t-statistic)−2.3% (−0.27)—
Share of weeks up53%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
KRYS12.0%——
CELC6.1%——
TGTX5.5%——
PODD5.5%——
NVCR5.2%——
UTHR4.2%——
INSP3.0%——
RIGL2.5%——
ANIP2.5%——
BBNX2.4%——
VCEL2.2%——
PRAX2.0%——
GERN1.9%——
ALKS1.9%——
ERAS1.7%——
NPCE1.6%——
PGNY1.6%——
INDV1.5%——
PBLS1.4%——
FOCL1.3%——
GMED1.3%——
RCUS1.2%——
SNDX1.2%——
NRIX1.2%——
LEGN1.2%——
JBIO1.2%——
UNH1.1%——
AVTX1.1%——
URGN1.1%——
MBX1.0%——
PALI0.9%——
PHVS0.9%——
ORGO0.8%——
SUPN0.8%——
PRCT0.8%——
TNGX0.8%——
IKT0.8%——
TRVI0.8%——
BMRN0.7%——
LIVN0.7%——
ARGX0.6%——
NVCT0.6%——
CAPR0.6%——
EWTX0.6%——
PRLD0.6%——
XENE0.6%——
CCCC0.5%——
KNSA0.5%——
KIDS0.5%——
AVLN0.5%——
BDSX0.5%——
SYRE0.5%——
TWST0.4%——
VIR0.3%——
ALNY0.3%——
IMVT0.3%——
INSM0.3%——
SEPN0.3%——
SOPH0.3%——
NKTR0.3%——
MIRM0.3%——
AORT0.3%——
TNDM0.3%——
ELVN0.3%——
SION0.3%——
BLTE0.3%——
CERS0.3%——
SLN0.2%——
IMUX0.2%——
IVVD0.2%——
MRK0.2%——
RLMD0.2%——
GPCR0.2%——
EOLS0.2%——
ANL0.2%——
ZNTL0.2%——
KPTI0.1%——
CNTX0.1%——
LUNG0.1%——
SABS0.1%——
TECX0.1%——
AXGN0.1%——
MSLE0.1%——
AVBP0.1%——
CORT0.1%——
SLDB0.1%——
VCYT0.1%——
CGEM0.0%——
NSPR0.0%——
WGS0.0%——
IOVA0.0%——
LRMR0.0%——
CGON0.0%——
QNRX0.0%——
EQ0.0%——
NTRA0.0%——
NEO0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest21 Feb 2020 to 2 Nov 2026+9.8%+14.6%0.360.66−43.0%1.05−2.3% (−0.27)
Last three years3 Nov 2023 to 2 Nov 2026+26.9%+21.8%0.841.16−31.7%1.04+6.3% (0.47)
Last year7 Nov 2025 to 2 Nov 2026+25.6%+14.2%0.930.84−15.4%0.84+12.8% (0.62)
DateCompanyAction
14 Aug 2026ZNTLBought
14 Aug 2026WGSBought
14 Aug 2026UNHBought
14 Aug 2026SYREBought
14 Aug 2026SUPNBought
14 Aug 2026SLNBought
14 Aug 2026SLDBBought
14 Aug 2026PRLDBought
14 Aug 2026PBLSBought
14 Aug 2026PALIBought
14 Aug 2026NVCTBought
14 Aug 2026NKTRBought
14 Aug 2026LEGNBought
14 Aug 2026IMUXBought
14 Aug 2026ERASBought
14 Aug 2026EQBought
14 Aug 2026CAPRBought
14 Aug 2026BLTEBought
14 Aug 2026AVLNBought
14 Aug 2026AVBPBought
14 Aug 2026AORTBought
14 Aug 2026ANLBought
15 May 2026XENEBought
15 May 2026VIRBought
15 May 2026TVTXBought

Dated at the rebalance that made the change.

DateCompanyAction
14 Aug 2026ZYMESold
14 Aug 2026TYRASold
14 Aug 2026TVTXSold
14 Aug 2026STAASold
14 Aug 2026RAPPSold
14 Aug 2026PCVXSold
14 Aug 2026ORKASold
14 Aug 2026LBRXSold
14 Aug 2026JSPRSold
14 Aug 2026INBXSold
14 Aug 2026ICLRSold
14 Aug 2026ETONSold
14 Aug 2026DXCMSold
14 Aug 2026CTMXSold
14 Aug 2026COGTSold
14 Aug 2026ARWRSold
14 Aug 2026ANABSold
15 May 2026VKTXSold
15 May 2026THCSold
15 May 2026TFXSold
15 May 2026QDELSold
15 May 2026OLMASold
15 May 2026NBIXSold
15 May 2026MLTXSold
15 May 2026MDGLSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest