We are live on ! Find out more
PA

Perceptive Advisors Portfolio holdings

AUM $5.12B
1-Year Est. Return 314.02%
This Fund
S&P 500
This Quarter Est. Return
+91.05%
1 Year Est. Return
+314.02%
3 Year Est. Return
+1,498.66%
5 Year Est. Return
+2,457.67%
10 Year Est. Return
+48,821.41%
AUM
$5.61B
AUM Growth
+$2.15B
Cap. Flow
+$788M
Cap. Flow %
14.05%
Top 10 Hldgs %
41.76%
Holding
131
New
39
Increased
33
Reduced
20
Closed
15

Top Buys

Rank Stock Value
1
PRAX icon
Praxis Precision Medicines
PRAX
+$80.3M
2
BSX icon
Boston Scientific
BSX
+$65.6M
3
APGE icon
Apogee Therapeutics
APGE
+$61.6M
4
EXAS
Exact Sciences
EXAS
+$59M
5
DYN icon
Dyne Therapeutics
DYN
+$55.6M

Top Sells

Rank Stock Value
1
MRUS
Merus
MRUS
+$127M
2
INSM icon
Insmed
INSM
+$101M
3
ACLX
Arcellx
ACLX
+$80M
4
VRNA
Verona Pharma
VRNA
+$55.9M
5
AKRO
Akero Therapeutics
AKRO
+$53.9M

Sector Composition

Rank Sector Weight
1 Healthcare 97.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DYN icon
26
Dyne Therapeutics
DYN
$3.92B
$68M 1.21%
3,478,944
+2,938,500
+544% +$55.6M
NRIX icon
27
Nurix Therapeutics
NRIX
$2.4B
$67.5M 1.2%
3,555,877
+2,139,728
+151% +$30.7M
SLDB icon
28
Solid Biosciences
SLDB
$858M
$66.7M 1.19%
11,833,539
– –
BLTE
29
Belite Bio
BLTE
$6.02B
$66.3M 1.18%
414,239
+364,451
+732% +$43.2M
ABVX
30
Abivax
ABVX
$11.9B
$61.8M 1.1%
458,343
+69,735
+18% +$7.61M
IVVD icon
31
Invivyd
IVVD
$219M
$53.8M 0.96%
+21,785,166
New +$45.3M
ENGN icon
32
enGene Therapeutics
ENGN
$122M
$53M 0.94%
5,869,076
+3,771,840
+180% +$30.2M
RGEN icon
33
Repligen
RGEN
$8.31B
$51.7M 0.92%
315,541
+45,113
+17% +$7.07M
IMVT icon
34
Immunovant
IMVT
$8.27B
$50.7M 0.9%
1,994,890
+407,000
+26% +$9.08M
ISRG icon
35
Intuitive Surgical
ISRG
$122B
$49.8M 0.89%
87,919
+35,800
+69% +$19.1M
SION
36
Sionna Therapeutics
SION
$2.23B
$48.5M 0.86%
1,179,098
– –
NBIX icon
37
Neurocrine Biosciences
NBIX
$17.2B
$47M 0.84%
331,050
-119,000
-26% -$17.2M
DHR icon
38
Danaher
DHR
$144B
$45.8M 0.82%
+200,000
New +$44M
ORKA
39
Oruka Therapeutics
ORKA
$5.59B
$44.8M 0.8%
1,476,501
+208,480
+16% +$5.81M
CTMX icon
40
CytomX Therapeutics
CTMX
$788M
$41.2M 0.74%
9,680,185
– –
OMDA
41
Omada Health Inc
OMDA
$1.41B
$37.8M 0.67%
2,396,330
– –
CDTX
42
DELISTED
Cidara Therapeutics
CDTX
$36.5M 0.65%
+165,131
New +$26.7M
IRON icon
43
Disc Medicine
IRON
$2.91B
$35.8M 0.64%
+450,743
New +$38.1M
DRUG
44
Bright Minds Biosciences
DRUG
$747M
$35.1M 0.63%
449,290
– –
PEN icon
45
Penumbra
PEN
$12.5B
$34.4M 0.61%
110,529
-110,018
-50% -$30.4M
ANRO icon
46
Alto Neuroscience
ANRO
$1.07B
$31.8M 0.57%
1,784,393
+1,629,027
+1,049% +$20.5M
CAI
47
Caris Life Sciences
CAI
$4.66B
$30.7M 0.55%
1,136,206
+38,043
+3% +$1.07M
JAZZ icon
48
Jazz Pharmaceuticals
JAZZ
$15.5B
$28.9M 0.52%
+170,000
New +$26.1M
PALI icon
49
Palisade Bio
PALI
$342M
$28.3M 0.5%
+12,050,000
New +$23.2M
RAPT
50
DELISTED
RAPT Therapeutics
RAPT
$28M 0.5%
825,890
+642,000
+349% +$19.9M
1
2
3 4 5

Similar funds

BG
Baupost Group Boston, Massachusetts $5.12B AUM 15.99% 1-Year Est. Return
TAM
Todd Asset Management Louisville, Kentucky $5.11B AUM 34.73% 1-Year Est. Return
CIA
Choate Investment Advisors Boston, Massachusetts $5.11B AUM 17.2% 1-Year Est. Return
AC
AKO Capital London, United Kingdom $5.11B AUM 2.56% 1-Year Est. Return
EIC
Equity Investment Corp Atlanta, Georgia $5.11B AUM 8.63% 1-Year Est. Return
CIC
Carnegie Investment Counsel Pepper Pike, Ohio $5.13B AUM 22.98% 1-Year Est. Return
CS
Cannell & Spears New York $5.1B AUM 31.77% 1-Year Est. Return
NC
Nicholas Company Milwaukee, Wisconsin $5.1B AUM 8.43% 1-Year Est. Return

Perceptive Advisors's Q4 2025 Portfolio in Review

As of Q4 2025, Perceptive Advisors held 131 positions worth $5.61B, up 62% from $3.46B the previous quarter. Its ten largest holdings account for 42% of the portfolio.

Perceptive Advisors deployed $788M of net new capital in Q4 2025, opening 39 new positions and adding to 33 existing holdings. Its largest new stake was Invivyd: 21,785,166 shares worth $53.8M.

By sector, the portfolio is most concentrated in Healthcare at 97% of assets, down from 100% a quarter earlier.

On the sell side, the largest reduction was Arcellx, an estimated $80M trimmed.

  • Perceptive Advisors's largest Q4 2025 buy was Invivyd: 21,785,166 shares worth $53.8M.
  • Perceptive Advisors added most to Praxis Precision Medicines in Q4 2025, an estimated $80.3M increase.
  • Perceptive Advisors's biggest Q4 2025 reduction was Arcellx, cutting an estimated $80M.
  • Perceptive Advisors fully exited Merus in Q4 2025, selling an estimated $127M.
  • Perceptive Advisors's ten largest holdings make up 42% of its $5.61B portfolio in Q4 2025.
  • Perceptive Advisors opened 39 new positions and closed 15 in Q4 2025.
  • Perceptive Advisors's portfolio value rose 62% quarter-over-quarter to $5.61B.

Based on Perceptive Advisors's 13F filing for Q4 2025, filed 17 Feb 2026.