  We report the direct observation of large amplitude spin-excitations
localized in a spin-transfer nanocontact using scanning transmission x-ray
microscopy. Experiments were conducted using a nanocontact to an ultrathin
ferromagnetic multilayer with perpendicular magnetic anisotropy. Element
resolved x-ray magnetic circular dichroism images show an abrupt onset of spin
excitations at a threshold current that are localized beneath the nanocontact,
with average spin precession cone angles of 25{\deg} at the contact center. The
results strongly suggest that we have observed a localized magnetic soliton.
