Perceptive Advisors Portfolio
13F Holdings & Position Changes — Last filed Aug 14, 2026
13F Holdings & Position Changes — Last filed Aug 14, 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 (Q2 2026), the fund holds 93 positions worth $6.4B. This quarter they initiated 12 new positions and exited 135. Their largest holding is PRAX ($681.6M).
Perceptive initiated 12 new positions and increased 36 this quarter. Portfolio grew +26.9% to $6.4B. 707 upcoming catalysts across holdings. 134 insider buys detected in portfolio companies.
Portfolio Value (13F)
$6.4B
Holdings
93
Top 10 Concentration
49.8%
QoQ Change
+26.9%
Turnover
6.7%
Portfolio Value Trend
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| # | Ticker | Company | Change | Value | % of Portfolio | SI % Float ? | Trend |
|---|---|---|---|---|---|---|---|
| 1 | PRAX | Praxis Precision Medicines, Inc. | $681.6M | 10.68% | 15.0% | ||
| 2 | SYRE | Spyre Therapeutics, Inc. | Increased↑3Q | $383.5M | 6.01% | 15.4% | |
| 3 | CELC | Celcuity Inc. | Increased | $334.5M | 5.24% | 33.7% | |
| 4 | RYTM | Rhythm Pharmaceuticals Inc. | Increased | $313.8M | 4.92% | 15.8% | |
| 5 | ASND | Ascendis Pharma A/S | Decreased | $310.4M | 4.86% | 6.3% | |
| 6 | ROIV | Roivant Sciences Ltd. | Decreased | $286.1M | 4.48% | 7.4% | |
| 7 | RLAY | Relay Therapeutics Inc. | Increased↑3Q | $263.9M | 4.14% | 24.8% | |
| 8 | TVTX | Travere Therapeutics Inc. | Decreased↓2Q | $213.2M | 3.34% | 17.5% | |
| 9 | KARD | Kardigan, Inc. | New | $195.6M | 3.07% | 5.6% | — |
| 10 | NUVL | Nuvalent Inc. | $195.2M | 3.06% | 6.2% |
Share changes reflect active decisions. Value changes include price moves.
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Perceptive Advisors held 93 biotech stocks in their 13F portfolio this quarter. Their top positions include PRAX, SYRE, CELC, RYTM, ASND. 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 $6.4B across 93 positions, with total assets under management of approximately $8B. Portfolio values are based on 13F filings with the SEC.
Perceptive Advisors initiated 12 new positions this quarter, including KARD, AVLN, UNH, ANL, NVCT and 7 more. They also increased 36 existing positions.
Perceptive Advisors fully exited 135 positions this quarter, including VNTXF, CYTK, LYRA, FATE, DRIO and 130 more. They also trimmed 26 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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