Soleus Capital Master Fund, L.P. and related entities filed an amended Schedule 13G with the SEC on November 9, 2026, disclosing beneficial ownership of 5,090,000 shares of Evolus, Inc. common stock as of September 30, 2026.

Key Highlights

  • 5,090,000 shares reported: Soleus Capital Master Fund, L.P. directly holds 5,090,000 shares of Evolus, Inc. common stock, according to the filing.
  • 7.7% of class: The aggregate position represents 7.7% of Evolus common stock, calculated based on 66,188,366 shares outstanding as of October 30, 2026.
  • Shared voting and dispositive power only: Each reporting person reports 0 sole voting power and 0 sole dispositive power; all 5,090,000 shares are held with shared voting and shared dispositive power.
  • Six reporting persons: The filing covers Soleus Capital Master Fund, L.P.; Soleus Capital, LLC; Soleus Capital Group, LLC; Soleus Capital Management, L.P.; Soleus GP, LLC; and Guy Levy.
  • Guy Levy as key individual: Guy Levy is identified as the sole managing member of both Soleus Capital Group, LLC and Soleus GP, LLC.
  • Beneficial ownership disclaimed by most entities: According to the filing, each of SCG, Soleus Capital, SCM, Soleus GP, LLC, and Mr. Levy "disclaims beneficial ownership of these shares held by Master Fund other than for the purpose of determining their obligations under Section 13(d)."

Soleus Capital's Amended 13G Position in Evolus: Structure and Ownership Details

The amended Schedule 13G, filed November 9, 2026 and reflecting a triggering event date of September 30, 2026, discloses that Soleus Capital Master Fund, L.P. directly holds 5,090,000 shares of Evolus, Inc. (NASDAQ:EOLS) common stock, par value $0.00001 per share (CUSIP 30052C107). The position equates to 7.7% of the outstanding class, with the share count denominator of 66,188,366 drawn from the cover of Evolus's Form 10-Q for the fiscal quarter ended September 30, 2026, filed with the SEC on November 4, 2026.

According to the filing, the ownership structure behind the Master Fund position involves several related entities. Soleus Capital, LLC serves as the sole general partner of Soleus Capital Master Fund, L.P. Soleus Capital Group, LLC is the sole managing member of Soleus Capital, LLC. Soleus Capital Management, L.P. acts as the investment manager for the Master Fund, and Soleus GP, LLC is the sole general partner of Soleus Capital Management, L.P. Guy Levy is identified as the sole managing member of both Soleus Capital Group, LLC and Soleus GP, LLC. All six entities and individuals are listed as reporting persons, each reporting 5,090,000 shares with shared voting and shared dispositive power and zero sole voting or dispositive power.

The filing states that SCG, Soleus Capital, SCM, Soleus GP, LLC, and Mr. Levy each disclaim beneficial ownership of the shares held by the Master Fund, except to the extent required to determine obligations under Section 13(d) of the Securities Exchange Act of 1934, and that the filing "shall not be deemed an admission that any of the foregoing persons is the beneficial owner of such shares for any other purpose."

What Was Disclosed

Soleus Capital Master Fund, L.P. and five affiliated entities and individuals filed an amended Schedule 13G disclosing a 5,090,000-share position in Evolus, Inc. common stock, representing 7.7% of the class as of September 30, 2026.