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Perceptive Advisors Portfolio holdings
AUM
$6.66B
Turnover
32.23%
1-Year Est. Return
360.84%
This Fund
S&P 500
This Quarter Est. Return
+32.47%
1 Year Est. Return
+360.84%
3 Year Est. Return
+1,707.27%
5 Year Est. Return
+3,210.42%
10 Year Est. Return
+53,055.89%
AUM
$6.66B
AUM Growth
+$1.54B
(+30%)
Cap. Flow
+$235M
Cap. Flow % of AUM
Cap. Flow %
3.53%
Top 10 Holdings %
Top 10 Hldgs %
47.3%
Holding
121
New
27
Increased
30
Reduced
28
Closed
12
Avg Time Held
Equity + Options
1.3
years
Top 10 Avg Time Held
Equity + Options
0.9
years
Top 20 Avg Time Held
Equity + Options
0.8
years
Avg Time Held Equity only
1.4
years
Top 10 Avg Time Held Equity only
0.9
years
Top 20 Avg Time Held Equity only
0.8
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
KARD
Kardigan Inc
KARD
|
+$190M |
| 2 |
Avalyn Pharma
AVLN
|
+$77.2M |
| 3 |
Tango Therapeutics
TNGX
|
+$63.5M |
| 4 |
Relay Therapeutics
RLAY
|
+$63.2M |
| 5 |
Biogen
BIIB
|
+$52.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CNTA
Centessa Pharmaceuticals
CNTA
|
+$209M |
| 2 |
Ascendis Pharma A/S
ASND
|
+$85.9M |
| 3 |
Day One Biopharmaceuticals
DAWN
|
+$37.6M |
| 4 |
Dyne Therapeutics
DYN
|
+$36.8M |
| 5 |
Abivax
ABVX
|
+$28.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 96.3% |
| 2 | Miscellaneous | 3.58% |
| 3 | Financials | 0.12% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Praxis Precision Medicines
PRAX
$7.21B
| $682M | 10.23% |
2,035,986
| – | – |
2024 Q1
9 quarters
|
|
2
Spyre Therapeutics
SYRE
$7.89B
| $383M | 5.76% |
4,319,496
+536,271
| +14% | +$39.1M |
2023 Q3
11 quarters
|
|
3
Celcuity
CELC
$2.83B
| $334M | 5.02% |
3,197,200
+70,000
| +2% | +$8.08M |
2023 Q4
10 quarters
|
|
|
4
Ascendis Pharma A/S
ASND
$15.1B
| $310M | 4.66% |
1,163,721
-367,700
| -24% | -$85.9M |
2025 Q2
4 quarters
|
|
5
Rhythm Pharmaceuticals
RYTM
$6.08B
| $287M | 4.31% |
2,586,295
+212,500
| +9% | +$19.2M |
2023 Q3
11 quarters
|
|
6
Roivant Sciences
ROIV
$24.9B
| $286M | 4.3% |
8,085,461
-200,000
| -2% | -$5.91M |
2025 Q2
4 quarters
|
|
|
7
Relay Therapeutics
RLAY
$3.7B
| $264M | 3.96% |
14,106,187
+4,355,046
| +45% | +$63.2M |
2025 Q4
2 quarters
|
|
8
Travere Therapeutics
TVTX
$4.8B
| $213M | 3.2% |
3,752,574
-389,977
| -9% | -$17.3M |
2025 Q2
4 quarters
|
|
|
KARD
9
Kardigan Inc
KARD
$1.22B
| $196M | 2.94% |
+8,200,662
| New | +$190M |
2026 Q2
0 quarters
|
|
10
DELISTED
Nuvalent
NUVL
| $195M | 2.93% |
1,580,505
| – | – |
2021 Q3
19 quarters
|
|
11
Edgewise Therapeutics
EWTX
$4.1B
| $178M | 2.67% |
4,373,974
-50,000
| -1% | -$1.72M |
2023 Q4
10 quarters
|
|
12
DELISTED
Apogee Therapeutics
APGE
| $174M | 2.61% |
1,308,113
-232,271
| -15% | -$20.9M |
2023 Q3
11 quarters
|
|
13
Amylyx Pharmaceuticals
AMLX
$3.36B
| $150M | 2.25% |
8,334,882
+50,000
| +0.6% | +$773K |
2024 Q3
7 quarters
|
|
14
MeiraGTx Holdings
MGTX
$903M
| $146M | 2.19% |
10,786,658
+460,555
| +4% | +$4.58M |
2018 Q2
32 quarters
|
|
15
Oruka Therapeutics
ORKA
$4.94B
| $128M | 1.92% |
1,345,063
-50,438
| -4% | -$3.36M |
2025 Q3
3 quarters
|
|
16
Inhibrx
INBX
$1.32B
| $123M | 1.85% |
1,297,763
-144,944
| -10% | -$14.5M |
2024 Q2
8 quarters
|
|
17
Protagonist Therapeutics
PTGX
$8.62B
| $120M | 1.81% |
981,879
-249,000
| -20% | -$26M |
2023 Q1
13 quarters
|
|
18
Solid Biosciences
SLDB
$622M
| $119M | 1.79% |
11,906,646
| – | – |
2020 Q2
24 quarters
|
|
19
Zymeworks
ZYME
$1.83B
| $109M | 1.64% |
4,182,953
+672,875
| +19% | +$17.1M |
2017 Q2
36 quarters
|
|
|
20
Tango Therapeutics
TNGX
$3.86B
| $106M | 1.58% |
3,377,000
+2,568,847
| +318% | +$63.5M |
2025 Q4
2 quarters
|
|
21
Immatics
IMTX
$1.07B
| $105M | 1.58% |
10,383,456
| – | – |
2020 Q3
23 quarters
|
|
22
Nurix Therapeutics
NRIX
$2.71B
| $105M | 1.57% |
4,320,422
+609,545
| +16% | +$10.4M |
2024 Q4
6 quarters
|
|
23
BioCryst Pharmaceuticals
BCRX
$2.04B
| $103M | 1.55% |
10,308,888
+2,874,855
| +39% | +$26M |
2025 Q4
2 quarters
|
|
24
Revolution Medicines
RVMD
$39B
| $98.8M | 1.48% |
527,600
+269,000
| +104% | +$39.3M |
2026 Q1
1 quarter
|
|
|
25
Avalyn Pharma
AVLN
$1.03B
| $88.1M | 1.32% |
+2,675,296
| New | +$77.2M |
2026 Q2
0 quarters
|
|
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Perceptive Advisors's Q2 2026 Portfolio in Review
As of Q2 2026, Perceptive Advisors held 121 positions worth $6.66B, up 30% from $5.12B the previous quarter. Its ten largest holdings account for 47% of the portfolio.
Perceptive Advisors deployed $235M of net new capital in Q2 2026, opening 27 new positions and adding to 30 existing holdings. Its largest new stake was Kardigan Inc: 8,200,662 shares worth $196M.
By sector, the portfolio is most concentrated in Healthcare at 96% of assets, down from 99% a quarter earlier, followed by Miscellaneous and Financials.
On the sell side, the largest reduction was Ascendis Pharma A/S, an estimated $85.9M trimmed.
- Perceptive Advisors's largest Q2 2026 buy was Kardigan Inc: 8,200,662 shares worth $196M.
- Perceptive Advisors added most to Tango Therapeutics in Q2 2026, an estimated $63.5M increase.
- Perceptive Advisors's biggest Q2 2026 reduction was Ascendis Pharma A/S, cutting an estimated $85.9M.
- Perceptive Advisors fully exited Centessa Pharmaceuticals in Q2 2026, selling an estimated $209M.
- Perceptive Advisors's ten largest holdings make up 47% of its $6.66B portfolio in Q2 2026.
- Perceptive Advisors opened 27 new positions and closed 12 in Q2 2026.
- Perceptive Advisors's portfolio value rose 30% quarter-over-quarter to $6.66B.
Based on Perceptive Advisors's 13F filing for Q2 2026, filed 14 Aug 2026.