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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
IKT icon
76
Inhibikase Therapeutics
IKT
$331M
$11.1M 0.2%
5,421,568
– –
ADGM
77
Adagio Medical Holdings
ADGM
$11.8M
$10.3M 0.18%
9,876,576
– –
OCS icon
78
Oculis Holding
OCS
$736M
$9.86M 0.18%
+493,827
New +$9.88M
GOSS icon
79
Gossamer Bio
GOSS
$83.2M
$9.73M 0.17%
3,139,669
-673,128
-18% -$1.92M
MPLT
80
MapLight Therapeutics
MPLT
$1.72B
$9.66M 0.17%
+550,000
New +$9.21M
XENE icon
81
Xenon Pharmaceuticals
XENE
$6.6B
$9M 0.16%
200,791
– –
IRD
82
Opus Genetics
IRD
$270M
$8.69M 0.16%
4,325,000
– –
AVR
83
Anteris Technologies
AVR
$823M
$8.36M 0.15%
1,675,476
-29,654
-2% -$136K
KMTS
84
Kestra Medical Technologies
KMTS
$1.43B
$7.56M 0.13%
+285,000
New +$7.34M
CAPR icon
85
CALL
Capricor Therapeutics
CAPR
$1.13B
$6.99M 0.12%
+242,100
New +$3.16M
BLLN
86
BillionToOne Inc
BLLN
$5.99B
$5.96M 0.11%
+72,812
New +$7.38M
BHVN icon
87
CALL
Biohaven
BHVN
$2.32B
$5.64M 0.1%
+500,000
New +$6.19M
KYMR icon
88
Kymera Therapeutics
KYMR
$9.52B
$5.44M 0.1%
69,935
-99,861
-59% -$6.74M
PEPG icon
89
PepGen
PEPG
$156M
$5.4M 0.1%
829,870
– –
CBIO
90
Crescent Biopharma
CBIO
$407M
$5.38M 0.1%
453,686
– –
TENX icon
91
Tenax Therapeutics
TENX
$420M
$5.35M 0.1%
+439,142
New +$3.82M
CRVS icon
92
Corvus Pharmaceuticals
CRVS
$1.25B
$5.33M 0.1%
692,441
-746,154
-52% -$5.88M
TECX
93
CALL
Tectonic Therapeutic
TECX
$615M
$5.21M 0.09%
+250,000
New +$4.65M
AQST icon
94
Aquestive Therapeutics
AQST
$517M
$4.83M 0.09%
747,193
-3,012,906
-80% -$18.8M
TNGX icon
95
Tango Therapeutics
TNGX
$4.65B
$4.55M 0.08%
+513,035
New +$4.42M
KRYS icon
96
Krystal Biotech
KRYS
$10.5B
$4.31M 0.08%
17,500
-17,500
-50% -$3.68M
COGT icon
97
Cogent Biosciences
COGT
$6.68B
$4.3M 0.08%
+121,082
New +$3.4M
OLMA icon
98
Olema Pharmaceuticals
OLMA
$1B
$4.14M 0.07%
+165,713
New +$2.95M
SDGR icon
99
Schrodinger
SDGR
$1.14B
$3.62M 0.06%
+202,400
New +$3.84M
OM icon
100
Outset Medical
OM
$77.9M
$3.09M 0.06%
833,333
– –
2 3
4
5 6

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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.