Perceptive Advisors
Perceptive Advisors, led by Joseph Edelman, is a prominent investment firm specializing in the healthcare sector. Founded in 1999, the firm has built a reputation for its deep expertise and strategic investments primarily in biotechnology and life sciences. Perceptive's investment philosophy emphasizes identifying opportunities where there is a significant discrepancy between the market’s perception and the underlying fundamentals of life sciences companies.
AUM figures shown are calculated by summing the reported market value of all positions in SEC 13F-HR filings — not the fund's actual assets under management.
- Excludes cash, bonds, private equity, short positions, and foreign-listed stocks not required to be reported.
- For PUT and CALL options, the reported Value is the notional value of the underlying shares — not the option premium paid. This significantly overstates the actual capital at risk.
- Actual fund AUM is typically higher and includes strategies, instruments, and positions that never appear in a 13F.
- 13F filings cover institutional managers with ≥$100M in 13F securities. Positions reflect end-of-quarter holdings, disclosed up to 45 days after the period ends.
Data sourced from SEC EDGAR. This tracker is for informational purposes only and does not constitute investment advice.
Portfolio Holdings
Top 30 positions
| Ticker | Issuer | Notional | Port % | @ Filing | Now (EOD) | Since Filing | Allocation |
|---|---|---|---|---|---|---|---|
| PRAX | $656.0M | 12.82% | $322.19 | $319.21 | -0.9% | 12.8% | |
| CELC | $356.9M | 6.97% | $114.14 | $113.85 | -0.3% | 7.0% | |
| ASND | $350.3M | 6.84% | $228.73 | $267.62 | +17.0% | 6.8% | |
| ROIV | $229.5M | 4.48% | $27.70 | $36.37 | +31.3% | 4.5% | |
| CNTA | $208.9M | 4.08% | $39.72 | — | 4.1% | ||
| RYTM | $206.4M | 4.03% | $86.97 | $113.95 | +31.0% | 4.0% | |
| SYRE | $190.8M | 3.73% | $50.44 | $93.19 | +84.8% | 3.7% | |
| NUVL | $161.9M | 3.16% | $102.45 | $123.78 | +20.8% | 3.2% | |
| EWTX | $139.4M | 2.72% | $31.50 | $42.81 | +35.9% | 2.7% | |
| PTGX | $129.7M | 2.54% | $105.40 | $139.69 | +32.5% | 2.5% | |
| APGE | $129.7M | 2.53% | $84.17 | $133.31 | +58.4% | 2.5% | |
| TVTX | $123.1M | 2.40% | $29.71 | $58.42 | +96.6% | 2.4% | |
| AMLX | $115.2M | 2.25% | $13.90 | $18.20 | +30.9% | 2.3% | |
| IMTX | $102.2M | 2.00% | $9.84 | $10.08 | +2.4% | 2.0% | |
| RLAY | $97.0M | 1.90% | $9.95 | $19.52 | +96.2% | 1.9% | |
| INBX | $97.0M | 1.90% | $67.23 | $102.40 | +52.3% | 1.9% | |
| MGTX | $89.3M | 1.75% | $8.66 | $14.84 | +71.4% | 1.8% | |
| ZYME | $87.9M | 1.72% | $25.04 | $26.50 | +5.8% | 1.7% | |
| SLDB | $85.7M | 1.68% | $7.20 | $11.04 | +53.3% | 1.7% | |
| DYN | $84.7M | 1.65% | $18.13 | $23.51 | +29.7% | 1.6% | |
| BCRX | $70.8M | 1.38% | $9.52 | $10.20 | +7.1% | 1.4% | |
| ORKA | $68.5M | 1.34% | $49.05 | $85.05 | +73.4% | 1.3% | |
| AORT | $60.0M | 1.17% | $36.62 | $24.30 | -33.6% | 1.2% | |
| NRIX | $57.5M | 1.12% | $15.50 | $24.21 | +56.2% | 1.1% | |
| MRNAPUT | $50.8M | 0.99% | $50.80 | $79.17 | +55.9% | 1.0% | |
| NAUT | $48.9M | 0.95% | $3.88 | $1.67 | -57.0% | 0.9% | |
| CTMX | $47.5M | 0.93% | $4.70 | $3.86 | -17.9% | 0.9% | |
| ANRO | $45.2M | 0.88% | $22.48 | $25.75 | +14.6% | 0.9% | |
| ENGN | $39.7M | 0.78% | $6.81 | $1.92 | -71.8% | 0.8% | |
| IMVT | $39.7M | 0.78% | $24.84 | $40.26 | +62.1% | 0.8% |
Quarter-on-Quarter Activity
New Positions
None this quarter
Exited Positions
None this quarter
Increased
None this quarter
Trimmed
None this quarter
Quarter Activity
During the quarter, Perceptive Advisors made no changes to their portfolio. There were no new positions, exits, or adjustments in the size of existing holdings. The fund's portfolio remained static without any notable shifts in concentration.
AI Commentary
<p>Perceptive Advisors' current portfolio highlights a strong concentration in the healthcare sector, particularly within biotechnology and pharmaceuticals. The top holdings underscore this focus, with PRAXIS PRECISION MEDICINES INC (PRAX) leading the portfolio with a substantial allocation of 12.8%, amounting to $656 million. This is followed by CELCUITY INC (CELC) and ASCENDIS PHARMA A/S (ASND), holding 7.0% and 6.8% of the assets under management respectively. Other significant investments include ROIVANT SCIENCES LTD (ROIV) and CENTESSA PHARMACEUTICALS PLC (CNTA), further emphasizing the fund's commitment to the biopharmaceutical sector.</p> <p>The fund's activity in the most recent quarter suggests a steady approach, with no new positions opened and no existing positions closed or adjusted. This indicates a strong conviction in their current holdings and possibly a wait-and-see approach in a potentially volatile market environment. The lack of movement could signal confidence in the biotech sector's long-term prospects despite any short-term market fluctuations. This strategy might reflect a broader macroeconomic view that the healthcare and biotech sectors will continue to offer growth opportunities or stability amidst broader market uncertainty.</p>