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
SABS icon
101
SAB Biotherapeutics
SABS
$271M
$3M 0.05%
+803,210
New +$2.64M
AVTX icon
102
Avalo Therapeutics
AVTX
$1.02B
$2.54M 0.05%
139,667
– –
CNTB
103
Connect Biopharma Holdings
CNTB
$150M
$2.24M 0.04%
+792,696
New +$1.69M
IMMX icon
104
Immix Biopharma
IMMX
$730M
$1.77M 0.03%
+338,941
New +$1.39M
LXEO icon
105
Lexeo Therapeutics
LXEO
$368M
$1.39M 0.02%
139,835
– –
CPIX icon
106
Cumberland Pharmaceuticals
CPIX
$102M
$1.36M 0.02%
+341,087
New +$1.01M
MDLN
107
Medline Inc
MDLN
$33.6B
$1.18M 0.02%
+28,000
New +$1.18M
PTN
108
Palatin Technologies
PTN
$16.2M
$1.08M 0.02%
+70,000
New +$1.3M
LENZ
109
LENZ Therapeutics
LENZ
$162M
$800K 0.01%
+50,000
New +$1.46M
BDSX icon
110
Biodesix
BDSX
$209M
$739K 0.01%
108,694
– –
NVNO
111
enVVeno Medical
NVNO
$7.2M
$564K 0.01%
50,258
– –
IOVA icon
112
Iovance Biotherapeutics
IOVA
$2.23B
$417K 0.01%
+152,714
New +$353K
RVMDW icon
113
Revolution Medicines Inc Warrant
RVMDW
$102M
$235K ﹤0.01%
250,000
– –
ENSC icon
114
Ensysce Biosciences
ENSC
$4.35M
$79.7K ﹤0.01%
86,666
– –
SRZNW icon
115
Surrozen Inc Warrant
SRZNW
$3.33K ﹤0.01%
166,666
– –
AKRO
116
DELISTED
Akero Therapeutics
AKRO
– –
-1,135,766
Closed -$53.9M
APYX icon
117
Apyx Medical
APYX
$180M
– –
-150,000
Closed -$321K
INSM icon
118
Insmed
INSM
$23.5B
– –
-702,130
Closed -$101M
JANX icon
119
Janux Therapeutics
JANX
$992M
– –
-292,686
Closed -$7.15M
LYRA
120
DELISTED
LYRA THERAPEUTICS INC
LYRA
– –
-229,382
Closed -$1.5M
MRUS
121
DELISTED
Merus
MRUS
– –
-1,353,093
Closed -$127M
PYXS icon
122
Pyxis Oncology
PYXS
$150M
– –
-1,178,307
Closed -$2.62M
QURE icon
123
uniQure
QURE
$2.77B
– –
-20,000
Closed -$1.17M
SCPH
124
DELISTED
scPharmaceuticals
SCPH
– –
-583,142
Closed -$3.31M
SPRY icon
125
PUT
ARS Pharmaceuticals
SPRY
$695M
– –
-200,000
Closed -$2.01M
2 3 4
5
6

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.