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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
TRIB
126
Trinity Biotech
TRIB
$6.79M
– –
-1,790,000
Closed -$1.86M
VKTX icon
127
Viking Therapeutics
VKTX
$4.31B
– –
-105,597
Closed -$2.78M
VRNA
128
DELISTED
Verona Pharma
VRNA
– –
-524,088
Closed -$55.9M
TEM
129
Tempus AI
TEM
$9.42B
– –
-85,000
Closed -$6.86M
HTFL
130
Heartflow Inc
HTFL
$2.15B
– –
-150,000
Closed -$5.05M
2 3 4 5
6

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CIA
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AC
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EIC
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CIC
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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.