Perceptive Advisors Portfolio
13F Holdings & Position Changes — Last filed May 29, 2026
13F Holdings & Position Changes — Last filed May 29, 2026
Clinical-stage biotech specialist known for deep scientific due diligence and concentrated bets on binary catalysts like FDA approvals and pivotal trial readouts. Edelman and team leverage decades of pattern recognition in drug development to identify asymmetric risk/reward setups.
Perceptive Advisors is a $8B biotech-focused hedge fund managed by Joseph Edelman. As of their latest 13F filing (Q1 2026), the fund holds 85 positions worth $5.0B. This quarter they initiated 14 new positions and exited 131. Their largest holding is PRAX ($656.0M).
Perceptive initiated 14 new positions and increased 27 this quarter. Portfolio shrank -3.0% to $5.0B. 645 upcoming catalysts across holdings.
Portfolio Value (13F)
$5.0B
Holdings
85
Top 10 Concentration
52.6%
QoQ Change
-3.0%
Turnover
4.1%
Portfolio Value Trend
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| # | Ticker | Company | Change | Value | % of Portfolio | SI % Float ? | Trend |
|---|---|---|---|---|---|---|---|
| 1 | PRAX | Praxis Precision Medicines, Inc. | Increased↑3Q | $656.0M | 13.05% | 12.8% | |
| 2 | CELC | Celcuity Inc. | Decreased | $356.9M | 7.10% | 32.9% | |
| 3 | ASND | Ascendis Pharma A/S | Increased | $350.3M | 6.97% | 3.6% | |
| 4 | ROIV | Roivant Sciences Ltd. | Increased↑4Q | $229.5M | 4.57% | 6.1% | |
| 5 | RYTM | Rhythm Pharmaceuticals Inc. | Decreased | $218.8M | 4.35% | 11.8% | |
| 6 | CNTA | Centessa Pharmaceuticals plc | Increased | $208.9M | 4.16% | 1.2% | |
| 7 | SYRE | Spyre Therapeutics, Inc. | Increased↑2Q | $190.8M | 3.80% | 15.6% | |
| 8 | NUVL | Nuvalent Inc. | Decreased | $161.9M | 3.22% | 6.6% | |
| 9 | EWTX | Edgewise Therapeutics, Inc. | Decreased | $139.4M | 2.77% | 13.1% | |
| 10 | PTGX | Protagonist Therapeutics Inc. | Decreased | $129.7M | 2.58% | 14.0% |
Share changes reflect active decisions. Value changes include price moves.
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Perceptive Advisors held 85 biotech stocks in their 13F portfolio this quarter. Their top positions include PRAX, CELC, ASND, ROIV, RYTM. The full holdings table is available on BiotechEdge with position sizes, quarter-over-quarter changes, and AI analysis.
Perceptive Advisors's tracked biotech portfolio is worth $5.0B across 85 positions, with total assets under management of approximately $8B. Portfolio values are based on 13F filings with the SEC.
Perceptive Advisors initiated 14 new positions this quarter, including IONS, DAWN, DMRA, DBVTF, STRO and 9 more. They also increased 27 existing positions.
Perceptive Advisors fully exited 131 positions this quarter, including RARE, PRTA, RGNX, MDGL, TRAW and 126 more. They also trimmed 30 existing positions.
Clinical-stage biotech specialist known for deep scientific due diligence and concentrated bets on binary catalysts like FDA approvals and pivotal trial readouts. Edelman and team leverage decades of pattern recognition in drug development to identify asymmetric risk/reward setups.
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