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Edap TMS (FOCL): which funds own it

Health Care →(by SIC code, unreviewed)Data as of Jun 30, 2026 (Q2 2026) · updated on Nov 5, 2026

A 13F shows the portfolio at quarter-end and is filed up to 45 days later: these are not real-time positions and they may have changed.

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Sections with a free account

2 concentrated managers hold it with a median weight of 1.0%. 8 officers or directors bought in 6 months.

Who owns Edap TMS?

Edap TMS trades in the U.S. through ADRs, certificates that represent shares of a non-U.S. company. Form 13F counts ADRs while the company reports ordinary shares, so we do not compute percentages. Holders reporting more than 5% of the ordinary shares to the SEC (Schedules 13D/13G): Orin Hirschman, 7.6% (13G filed Oct 19, 2026). As of Jun 30, 2026, the largest ADR holders reported on Form 13F were Soleus Capital Management (7.3 million ADRs), Morgan Stanley (3.3 million ADRs) and Rock Springs Capital Management (1.4 million ADRs).

Which institutions hold the most Edap TMS shares?

Per Form 13F filings as of Jun 30, 2026, in ADRs:

  1. 1. Soleus Capital Management: 7.3 million ADRs
  2. 2. Morgan Stanley: 3.3 million ADRs
  3. 3. Rock Springs Capital Management: 1.4 million ADRs
  4. 4. Flax Pond Capital: 736,230 ADRs
  5. 5. Bruce: 438,652 ADRs
  6. 6. Parkman Healthcare Partners: 154,832 ADRs
  7. 7. Essex Investment Management: 146,005 ADRs
  8. 8. Cahill Financial Advisors: 134,960 ADRs
  9. 9. US Bancorp: 122,500 ADRs
  10. 10. UBS Group: 118,395 ADRs

Sources:13G by Orin Hirschman (Oct 19, 2026) ↗All of the company's proxy statements on EDGAR ↗

We hold 13D and 13G filings made since Dec 23, 2024: a holder above 5% that has not filed since then does not appear here.

Edap TMS revenue

Edap TMS reported annual revenue of $70.5 million for fiscal year 2025 (year ended December 31, 2025), according to its Form 10-K filed with the SEC (XBRL data).

Concentrated managers
2
All 13F: 37
Consensus
—
No score: it needs 5 or more concentrated managers
Price at Jun 30, 2026 (per 13F)
$5.18
+39.2% in the quarter · reported value ÷ shares, not the quote · See current quote ↗

Quarter flow (concentrated managers)

Change in managers (2 → 2): 0 opened · 0 exited = 0

Net flow in the quarter: $0K (0 shares) · bought $0 and sold $0Shares concentrated managers added minus those they cut, valued at the 13F quarter-end implied price, not each trade's price. It is a different measure from the change in managers: the two can have opposite signs.

Concentrated managers holding it

Up to 15, sorted by position value. The percentage is the weight in each manager's portfolio.

Largest holders of FOCL (all 13F filers)

  • Soleus Capital Managementconcentrated7.3 MInvestment firm · 19.48% of the company0
  • Morgan Stanley3.3 MBank or trading desk · 8.89% of the company−8,408
  • Rock Springs Capital Management1.4 MType not verified · 3.69% of the company+8,000
  • Flax Pond Capital736 KType not verified · 1.96% of the company−47 K
  • Bruceconcentrated439 KInvestment firm · 1.17% of the company0
  • Parkman Healthcare Partners155 KType not verified · 0.41% of the company0
  • Essex Investment Management146 KType not verified · 0.39% of the company+146 K
  • Cahill Financial Advisors135 KType not verified · 0.36% of the company0
  • US Bancorp123 KBank or trading desk · 0.33% of the company+3,500
  • UBS Group118 KBank or trading desk · 0.32% of the company−51 K

The 10 13F filers with the most shares as of Jun 30, 2026, whatever their type (index firms usually come first). “Change”: shares added or cut versus the previous quarter, split-adjusted; “no data” = there is no comparable portfolio for the previous quarter (no filing, or a filing with its holdings under confidential treatment). “% of the company” only where shares outstanding are up to date. Entities of the same group file separately and some 13F filings include other managers: there may be double counting. With a free account: the top 25, the largest buyers and the largest sellers.

Fundamentals

12-month figures to Jun 30, 2026 · balance sheet as of Jun 30, 2026.

Profitability
Operating margin
-34.5%
Net margin
-49.1%
ROE
—
Growth
Revenue (TTM)
$79.3M
Revenue growth
—
Net income (TTM)
$-39.0M
Balance sheet
Net debt / EBITDA
—
Free cash flow (TTM)
—
Quality vs sector
—

This company's sector comes from its SIC code, unreviewed, or has too few comparable companies: we do not compare it with its sector.

Figures from the statements the company filed with the SEC (10-K, 10-Q). Free cash flow = operating cash flow − capital expenditures; empty if the company does not report capex. “Quality vs sector”: 0 to 100, the average of its percentiles in ROE, operating margin, free-cash-flow margin, revenue and earnings growth and net debt / EBITDA (at least 3 needed) against companies in its sector above $300M. How each figure is calculated

Earnings quality and debt

Operating cash flow ÷ net income (12 months)
no datanot calculated with negative net income
Interest coverage (operating income ÷ interest)
−31.3 timesnegative operating income
Debt due within 12 months
$2.8M0.13 times cash and investments
Debt maturities by year (note as of Dec 31, 2025)
  • Year 1$2.1M
  • Year 2$403K
  • Year 3$443K
  • Year 4—
  • Year 5$15.1M
  • Later—

From the figures the company filed with the SEC. Cash flow over net income near or above 1 means earnings are collected in cash; far below, that part is accounting. Coverage says how many times operating income pays the latest fiscal year's interest. Maturities come from the debt note of the latest annual report, counted from its closing date. “No data” never means zero.

Insiders (Form 4)

Officers and directors who bought (6 m)
8
Amount (6 m)
$593K
CEO/CFO bought (12 m)
Yes

10% owners who bought (6 m): 0

Open-market purchases, excluding 10b5-1 plans. Officers and directors only; joint filers of the same purchase count as one. 10% owners with no role are shown separately. 0 = nobody bought; “no data” = we do not have its Form 4 filings.

Each of the company's Form 4 filings, on EDGAR ↗Latest trades, with date and filing →

Above 5% (13D/13G)

Disclosed stakes, with their amendments. A filing is not always a purchase: there are also reductions and changes of filing entity.

This list may be incomplete: we hold 13D and 13G filings made since Dec 23, 2024. A holder above 5% that has not filed anything since then is not shown here.

  • Orin Hirschman7.6%13Gfiling ↗Event: Sep 30, 2026 · filed: Oct 19, 2026

Above 5% over time (13D/13G)

Each holder with its filings in order. History since December 2024.

Flagged material events (8-K)

  • Apr 2, 2026Routinefiling ↗

    Unregistered sale of equity securities (Item 3.02)

  • Feb 12, 2026Routinefiling ↗

    Change in directors or officers (Item 5.02)

    «EDAP Announces Appointment of David Horn to Board of Directors»

Alert items the company itself flagged in its 8-K filings with the SEC, most serious first. It is the form's label, with no interpretation from us: Item 5.02 covers routine appointments as well as a chief executive's departure; open the filing. The quoted headline is the original press release's.

All material events (8-K)

Earnings, agreements, financing, management changes and announcements from the last year, with a filter by type and a link to each filing.

Other Health Care stocks in managers' portfolios

Same sector and a similar number of concentrated managers holding them. It is a list to keep exploring, not a recommendation.

All of Health Care →

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