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Perceptive Advisors Portfolio holdings

AUM $6.66B
1-Year Est. Return 360.84%
This Fund
S&P 500
This Quarter Est. Return
+91.05%
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
$5.61B
AUM Growth
+$2.15B
Cap. Flow
+$650M
Cap. Flow %
11.59%
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
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%
2 Miscellaneous 2.96%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PRAX icon
1
Praxis Precision Medicines
PRAX
$9.82B
$588M 10.49%
1,995,986
+431,432
+28% +$80.3M
CELC icon
2
Celcuity
CELC
$4.68B
$315M 5.62%
3,160,200
+203,881
+7% +$16.8M
RYTM icon
3
Rhythm Pharmaceuticals
RYTM
$7.07B
$273M 4.86%
2,546,391
+107,422
+4% +$11.4M
ASND icon
4
Ascendis Pharma A/S
ASND
$17.7B
$231M 4.11%
1,081,421
-7,080
-0.7% -$1.46M
APGE
5
DELISTED
Apogee Therapeutics
APGE
$176M 3.14%
2,330,651
+978,662
+72% +$61.6M
ROIV icon
6
Roivant Sciences
ROIV
$25.2B
$173M 3.09%
7,985,461
+617,000
+8% +$12.2M
NUVL
7
DELISTED
Nuvalent
NUVL
$167M 2.99%
1,665,105
+102,769
+7% +$10.1M
TVTX icon
8
Travere Therapeutics
TVTX
$6.15B
$163M 2.91%
4,278,180
+483,565
+13% +$15.7M
XBI icon
9
PUT
State Street SPDR S&P Biotech ETF
XBI
$11.7B
$134M 2.39%
+1,100,000
New +$126M
EXAS
10
DELISTED
Exact Sciences
EXAS
$122M 2.17%
1,200,487
+735,000
+158% +$59M
PTGX icon
11
Protagonist Therapeutics
PTGX
$9.43B
$118M 2.1%
1,350,425
+320,291
+31% +$26.2M
INBX icon
12
Inhibrx
INBX
$1.78B
$115M 2.05%
1,452,707
+125,000
+9% +$8.52M
EWTX icon
13
Edgewise Therapeutics
EWTX
$4.68B
$111M 1.97%
4,457,974
+662,080
+17% +$13.3M
IMTX icon
14
Immatics
IMTX
$1.46B
$109M 1.94%
10,383,456
+1,000,000
+11% +$10.1M
SYRE icon
15
Spyre Therapeutics
SYRE
$7.85B
$101M 1.79%
3,069,225
+1,839,780
+150% +$48.1M
AMLX icon
16
Amylyx Pharmaceuticals
AMLX
$3.8B
$100M 1.78%
8,284,882
-667,483
-7% -$9.07M
ACLX
17
DELISTED
Arcellx
ACLX
$95.6M 1.7%
1,466,071
-1,002,282
-41% -$80M
VRDN icon
18
Viridian Therapeutics
VRDN
$2.6B
$94.7M 1.69%
3,042,703
+1,580,303
+108% +$43.3M
BSX icon
19
Boston Scientific
BSX
$69.3B
$93.3M 1.66%
979,000
+669,000
+216% +$65.6M
FOLD
20
DELISTED
Amicus Therapeutics
FOLD
$90.7M 1.62%
6,370,851
– –
ZYME icon
21
Zymeworks
ZYME
$2.09B
$85.9M 1.53%
3,261,850
+1,171,187
+56% +$25.5M
ATXS
22
DELISTED
Astria Therapeutics
ATXS
$84.9M 1.51%
6,485,420
– –
MGTX icon
23
MeiraGTx Holdings
MGTX
$1.33B
$82.1M 1.46%
10,326,103
-2,300,000
-18% -$19.1M
AORT icon
24
Artivion
AORT
$1.25B
$78.6M 1.4%
1,722,290
-297,710
-15% -$13.3M
CNTA
25
DELISTED
Centessa Pharmaceuticals
CNTA
$73M 1.3%
2,917,634
-183,268
-6% -$4.64M
1
2 3 4 5

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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 $650M 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, followed by Miscellaneous.

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.