Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供背景参考 · 非买入清单
Perceptive Advisors
sector_healthcare
B
Reliability improving可靠性走强
leaderboard rank榜单排名 #27
Book持仓规模
$5.1B
long US listed only仅美股多头
Positions持仓数
93
94% resolved已解析
Top-10 concentration前十集中度
52%
% of book占组合%
Turnover换手
MED
29.3% per quarter每季
Median excess中位超额
-12%
buys vs SPY, since filing买入相对SPY，自申报起 · n 84
Hit rate胜率
42%
share of buys beating SPY跑赢SPY的买入占比
Core lean — the 10-second read核心倾向 — 10秒速读
Core lean: Health Care (Equal-Weight) — added MRNA (+1.0pp of book this quarter)核心倾向：医疗保健（等权） — 本季度加仓 MRNA（占组合 +1.0pp）
Health Care (Equal-Weight)医疗保健（等权）
+1.0pp
1.8% of book held占组合持有
· 2 names标的
· US Sectors (EW)
MRNA
OncologyOncology
+0.9pp
0.9% of book held占组合持有
· 2 names标的
· Healthcare & Biotech
GH
TNGX
GenomicsGenomics
+0.7pp
0.7% of book held占组合持有
· 2 names标的
· Healthcare & Biotech
GH
TWST
DiagnosticsDiagnostics
+0.5pp
0.5% of book held占组合持有
· 1 names标的
· Healthcare & Biotech
GH
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新申报的描述性解读——主题按精选篮子聚类（Finviz 兜底），added-pp = 本季度买入占组合百分比之和。非预测。
Grade & excess history评级与超额历史
per-quarter buy cohorts, scored on public filing dates vs SPY — descriptive ranks in a curated survivor cohort按季度买入队列，以公开申报日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: improving走强 · 12 scored quarters已评分季度 · 33% positive为正 · recent-4 median近4季中位 +12% vs all-time对全期 -22%
Median excess by quarter各季度中位超额: ▁▂▁▂▆▁▄▁▅▄▅█ (oldest → newest, shifted by the series minimum so negatives render由旧到新，按序列最小值平移以呈现负值)
| Quarter季度 | Buys买入数 | Median excess中位超额 | Hit胜率 | Median fwd 63d中位前瞻63日 |
|---|---|---|---|---|
| 2023-06-30 | 10 | -57% | 40% | -20% |
| 2023-09-30 | 5 | -34% | 20% | +11% |
| 2023-12-31 | 9 | -48% | 22% | -5% |
| 2024-03-31 | 10 | -41% | 20% | -2% |
| 2024-06-30 | 5 | +33% | 60% | -3% |
| 2024-09-30 | 5 | -61% | 40% | -12% |
| 2024-12-31 | 3 | -10% | 0% | +7% |
| 2025-03-31 | 4 | -61% | 0% | -13% |
| 2025-06-30 | 9 | +13% | 67% | +14% |
| 2025-09-30 | 8 | -8% | 50% | -12% |
| 2025-12-31 | 13 | +12% | 62% | -10% |
| 2026-03-31 | 3 | +57% | 100% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新申报；季度环比变化对上季Current weights当前权重 · 2026-03-31
Unclassified
88.4%
▲ +3.0pp
Health Care
9.8%
▼ -0.4pp
Healthcare
1.8%
▼ -2.6pp
Theme categories主题类别
US Sectors (EW) 1.0%
Industrials 0.8%
Rotating into (QoQ)轮入（环比）
no QoQ increases无环比增持
Rotating out of (QoQ)轮出（环比）
Healthcare -2.6pp
Health Care -0.4pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-03-31 | Unclassified 88% · Health Care 10% · Healthcare 2% |
| 2025-12-31 | Unclassified 85% · Health Care 10% · Healthcare 4% |
| 2025-09-30 | Unclassified 85% · Health Care 13% · Healthcare 2% |
| 2025-06-30 | Unclassified 87% · Health Care 10% · Healthcare 3% |
| 2025-03-31 | Unclassified 92% · Health Care 6% · Healthcare 2% |
| 2024-12-31 | Unclassified 92% · Health Care 5% · Healthcare 3% |
| 2024-09-30 | Unclassified 93% · Health Care 5% · Healthcare 2% |
| 2024-06-30 | Unclassified 92% · Health Care 6% · Healthcare 2% |
| 2024-03-31 | Unclassified 91% · Health Care 6% · Healthcare 3% |
| 2023-12-31 | Unclassified 94% · Health Care 3% · Healthcare 3% |
| 2023-09-30 | Unclassified 93% · Health Care 6% · Healthcare 2% |
| 2023-06-30 | Unclassified 91% · Health Care 8% · Healthcare 1% |
Full book完整持仓
every resolved position as filed — click a column header to sort. Conviction is a descriptive composite, not a forecast.截至申报日的全部已解析持仓——点击列头排序。信念分为描述性综合指标，非预测。87 positions shown项持仓 · resolved已解析 87/93 (94%) · unresolved CUSIPs are excluded from this table but counted in book totals未解析CUSIP不列入本表，但计入组合总额
| #↕ | Ticker标的 ↕ | Company公司 ↕ | % book仓位% ↕ | Value金额 ↕ | Action动作 ↕ | Δ sharesΔ股数 ↕ | Add streak连加季数 ↕ | Conviction信念分 ↕ | Sector行业 ↕ | Themes主题 | Since filing自申报 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  PRAX |
Praxis Precision Medicines I | 12.9% | $656M | hold | +2% | — | 70 · HIGH | — | — | — |
| 2 |  CELC |
Celcuity Inc | 7.0% | $357M | hold | -1% | — | 70 · MODERATE | — | — | — |
| 3 |  ASNDUSD |
Ascendis Pharma A/s | 6.9% | $350M | add | +42% | 1q | 74 · HIGH | — | — | — |
| 4 |  ROIV |
Roivant Sciences Ltd | 4.5% | $230M | hold | +4% | — | 69 · MODERATE | Health Care | — | +17% |
| 5 |  260 |
Centessa Pharmaceuticals Plc | 4.1% | $209M | add | +80% | 1q | 73 · HIGH | — | — | — |
| 6 |  RYTM |
Rhythm Pharmaceuticals Inc | 4.0% | $206M | hold | -7% | — | 68 · MODERATE | — | — | — |
| 7 |  SYRE |
Spyre Therapeutics Inc | 3.8% | $191M | add | +23% | 2q | 78 · HIGH | — | — | — |
| 8 |  NUVL |
Nuvalent Inc | 3.2% | $162M | hold | -5% | — | 67 · MODERATE | — | — | — |
| 9 |  EWTX |
Edgewise Therapeutics Inc | 2.7% | $139M | hold | -1% | — | 67 · MODERATE | — | — | — |
| 10 |  PTGX |
Protagonist Therapeutics Inc | 2.5% | $130M | hold | -9% | — | 66 · MODERATE | Health Care | — | +30% |
| 11 |  APGE |
Apogee Therapeutics Inc | 2.5% | $130M | trim | -34% | — | 51 · MODERATE | — | — | — |
| 12 |  TVTX |
Travere Therapeutics Inc | 2.4% | $123M | hold | -3% | — | 51 · MODERATE | — | — | — |
| 13 |  AMLX |
Amylyx Pharmaceuticals Inc | 2.3% | $115M | hold | +0% | — | 50 · MODERATE | — | — | — |
| 14 |  RLAY |
Relay Therapeutics Inc | 1.9% | $97M | add | +412% | 2q | 60 · MODERATE | — | — | — |
| 15 |  INBX |
Inhibrx Biosciences Inc | 1.9% | $97M | hold | -1% | — | 50 · MODERATE | — | — | — |
| 16 |  ZYME |
Zymeworks Inc | 1.7% | $88M | hold | +8% | — | 49 · MODERATE | — | — | — |
| 17 |  SLDB |
Solid Biosciences Inc | 1.7% | $86M | hold | +1% | — | 49 · MODERATE | — | — | — |
| 18 |  DYN |
Dyne Therapeutics Inc | 1.7% | $85M | add | +34% | 2q | 58 · MODERATE | — | — | — |
| 19 |  BCRX |
Biocryst Pharmaceuticals Inc | 1.4% | $71M | add | +135% | 2q | 58 · MODERATE | — | — | — |
| 20 |  ORKA |
Oruka Therapeutics Inc | 1.3% | $68M | hold | -6% | — | 47 · MODERATE | — | — | — |
| 21 |  AORT |
Artivion Inc | 1.2% | $60M | hold | -5% | — | 47 · MODERATE | Health Care | — | +5% |
| 22 |  NRIX |
Nurix Therapeutics Inc | 1.1% | $58M | hold | +4% | — | 47 · MODERATE | — | — | — |
| 23 | MRNA |
Moderna Inc | 1.0% | $51M | new | — | 1q | 31 · LOW | Healthcare | Health Care (Equal-Weight) | +37% |
| 24 |  NAUT |
Nautilus Biotechnology Inc | 1.0% | $49M | hold | +0% | — | 36 · LOW | — | — | — |
| 25 |  CTMX |
Cytomx Therapeutics Inc. | 0.9% | $47M | hold | +4% | — | 35 · LOW | — | — | — |
| 26 |  ANRO |
Alto Neuroscience Inc | 0.9% | $45M | add | +13% | 3q | 50 · MODERATE | — | — | — |
| 27 |  IMVT |
Immunovant Inc | 0.8% | $40M | trim | -20% | — | 34 · LOW | — | — | — |
| 28 |  ISRG |
Intuitive Surgical Inc | 0.8% | $39M | hold | -3% | — | 34 · LOW | Healthcare | Robotics & Automation, Health Care (Equal-Weight) | -6% |
| 29 |  IONS |
Ionis Pharmaceuticals Inc | 0.7% | $38M | new | — | 1q | 29 · LOW | — | — | — |
| 30 |  DAWNGBX |
Day One Biopharmaceuticals I | 0.7% | $38M | new | — | 1q | 29 · LOW | — | — | — |
| 31 |  ABVX |
Abivax Sa | 0.7% | $37M | trim | -28% | — | 33 · LOW | — | — | — |
| 32 |  CRVS |
Corvus Pharmaceuticals Inc | 0.7% | $34M | add | +231% | 1q | 38 · LOW | — | — | — |
| 33 |  RGEN |
Repligen Corp | 0.7% | $33M | trim | -11% | — | 32 · LOW | Health Care | — | +42% |
| 34 |  JAZZ |
Jazz Pharmaceuticals Plc | 0.6% | $32M | hold | +0% | — | 32 · LOW | Health Care | Therapeutics | +2% |
| 35 |  DMRA |
Damora Therapeutics Inc | 0.6% | $32M | new | — | 1q | 26 · LOW | — | — | — |
| 36 |  XFOR |
X4 Pharmaceuticals Inc | 0.6% | $28M | hold | +7% | — | 31 · LOW | — | — | — |
| 37 | GH |
Guardant Health Inc | 0.5% | $28M | add | +88% | 2q | 40 · LOW | — | Oncology, Diagnostics, Genomics | +62% |
| 38 |  DRUG |
Bright Minds Biosciences Inc | 0.5% | $28M | trim | -16% | — | 30 · LOW | — | — | — |
| 39 |  IVVD |
Invivyd Inc | 0.5% | $27M | hold | -4% | — | 30 · LOW | — | — | — |
| 40 |  SION |
Sionna Therapeutics Inc | 0.5% | $26M | trim | -44% | — | 29 · LOW | — | — | — |
| 41 |  AXSM |
Axsome Therapeutics Inc. | 0.5% | $25M | hold | +1% | — | 29 · LOW | — | — | — |
| 42 |  RVMD |
Revolution Medicines Inc | 0.5% | $25M | new | — | 1q | 34 · LOW | — | — | — |
| 43 |  SABS |
Sab Biotherapeutics Inc | 0.5% | $25M | add | +701% | 2q | 38 · LOW | — | — | — |
| 44 |  BLTE |
Belite Bio Inc | 0.5% | $24M | trim | -63% | — | 28 · LOW | — | — | — |
| 45 |  TENX |
Tenax Therapeutics Inc | 0.5% | $23M | add | +230% | 2q | 37 · LOW | — | — | — |
| 46 |  AXGN |
Axogen Inc | 0.5% | $23M | trim | -11% | — | 27 · LOW | — | — | — |
| 47 |  VRDN |
Viridian Therapeutics Inc | 0.5% | $23M | trim | -62% | — | 27 · LOW | — | — | — |
| 48 |  OBIO |
Orchestra Biomed Hldgs Inc | 0.4% | $21M | hold | -2% | — | 26 · LOW | — | — | — |
| 49 |  RAPP |
Rapport Therapeutics Inc | 0.4% | $21M | hold | +0% | — | 26 · LOW | — | — | — |
| 50 |  DBVT |
Dbv Technologies S A | 0.4% | $20M | new | — | 1q | 20 · LOW | — | — | — |
| 51 |  LONA |
Leonabio Inc | 0.4% | $19M | hold | +0% | — | 25 · LOW | — | — | — |
| 52 |  AVR |
Anteris Technologies Global | 0.4% | $19M | add | +104% | 1q | 30 · LOW | — | — | — |
| 53 |  STRO |
Sutro Biopharma Inc | 0.3% | $18M | new | — | 1q | 19 · LOW | — | — | — |
| 54 | TNGX |
Tango Therapeutics Inc | 0.3% | $17M | add | +58% | 2q | 34 · LOW | — | Oncology | — |
| 55 |  CTNM |
Contineum Therapeutics Inc | 0.3% | $16M | trim | -14% | — | 23 · LOW | — | — | — |
| 56 |  PALI |
Palisade Bio Inc | 0.3% | $16M | trim | -26% | — | 23 · LOW | — | — | — |
| 57 |  IRTC |
Irhythm Holdings Inc | 0.2% | $12M | hold | -3% | — | 22 · LOW | — | Medical, Telemedicine | — |
| 58 |  EVMN |
Evommune Inc | 0.2% | $10M | new | — | 1q | 17 · LOW | — | — | — |
| 59 |  PHAT |
Phathom Pharmaceuticals Inc | 0.2% | $10M | new | — | 1q | 17 · LOW | — | — | — |
| 60 |  NMRA |
Neumora Therapeutics Inc. | 0.2% | $10M | new | — | 1q | 17 · LOW | — | — | — |
| 61 |  OMDA |
Omada Health Inc | 0.2% | $10M | trim | -67% | — | 21 · LOW | — | — | — |
| 62 |  NBIX |
Neurocrine Biosciences Inc | 0.2% | $9M | trim | -80% | — | 20 · LOW | Health Care | — | +6% |
| 63 |  BBNX |
Beta Bionics Inc | 0.2% | $8M | add | +40% | 2q | 30 · LOW | — | — | — |
| 64 |  IRD |
Opus Genetics Inc | 0.2% | $8M | trim | -58% | — | 20 · LOW | — | — | — |
| 65 |  BLLN |
Billiontoone Inc | 0.1% | $7M | add | +26% | 2q | 29 · LOW | — | — | — |
| 66 | TWST |
Twist Bioscience Corp | 0.1% | $7M | new | — | 1q | 14 · LOW | — | Genomics | — |
| 67 |  SRZN |
Surrozen Inc | 0.1% | $7M | new | — | 1q | 13 · LOW | — | — | — |
| 68 |  AGMB |
Agomab Therapeutics Nv | 0.1% | $6M | new | — | 1q | 13 · LOW | — | — | — |
| 69 |  EOLS |
Evolus Inc | 0.1% | $5M | new | — | 1q | 23 · LOW | — | — | — |
| 70 |  COGT |
Cogent Biosciences Inc | 0.1% | $5M | hold | +0% | — | 17 · LOW | — | — | — |
| 71 |  ADGM |
Adagio Med Hldgs Inc | 0.1% | $4M | trim | -62% | — | 17 · LOW | — | — | — |
| 72 |  OCUL |
Ocular Therapeutix Inc | 0.1% | $4M | new | — | 1q | 21 · LOW | — | — | — |
| 73 |  ADMA |
Adma Biologics Inc | 0.1% | $4M | trim | -47% | — | 16 · LOW | Health Care | — | +3% |
| 74 |  IKT |
Inhibikase Therapeutics Inc | 0.1% | $4M | trim | -57% | — | 16 · LOW | — | — | — |
| 75 |  APLSUSD |
Apellis Pharmaceuticals Inc | 0.1% | $3M | new | — | 1q | 20 · LOW | — | — | — |
| 76 |  OM |
Outset Med Inc | 0.1% | $3M | hold | +0% | — | 15 · LOW | — | — | — |
| 77 |  EDSA |
Edesa Biotech Inc | 0.1% | $3M | new | — | 1q | 10 · LOW | — | — | — |
| 78 |  ADPT |
Adaptive Biotechnologies Cor | 0.0% | $2M | new | — | 1q | 19 · LOW | — | — | — |
| 79 |  AVTX |
Avalo Therapeutics Inc | 0.0% | $2M | hold | +0% | — | 14 · LOW | — | — | — |
| 80 |  CORT |
Corcept Therapeutics Inc | 0.0% | $2M | new | — | 1q | 9 · LOW | Health Care | — | +57% |
| 81 |  MDLN |
Medline Inc | 0.0% | $1M | hold | +0% | — | 13 · LOW | — | — | — |
| 82 |  PTN |
Palatin Technologies Inc | 0.0% | $1M | trim | -12% | — | 13 · LOW | — | — | — |
| 83 |  CPIX |
Cumberland Pharmaceuticals I | 0.0% | $640179 | trim | -42% | — | 12 · LOW | — | — | — |
| 84 |  RVMDW |
Revolution Medicines Inc | 0.0% | $447500 | hold | +0% | — | 12 · LOW | — | — | — |
| 85 |  XGN |
Exagen Inc | 0.0% | $344679 | new | — | 1q | 7 · LOW | — | — | — |
| 86 |  ENSC |
Ensysce Biosciences Inc | 0.0% | $46670 | hold | +0% | — | 11 · LOW | — | — | — |
| 87 |  SRZNW |
Surrozen Inc | 0.0% | $2667 | hold | +0% | — | 11 · LOW | — | — | — |
Rotation detail轮动明细
this filing cycle, uncapped — adds/new and trims from the resolved book, exits from the rotation feed本申报周期，不设上限——新建/加仓与减持取自已解析持仓，清仓取自轮动数据Rotated into轮入 (35)
| ASNDUSD add |
6.9% | — |
| 260 add |
4.1% | — |
| SYRE add |
3.8% | — |
| RLAY add |
1.9% | — |
| DYN add |
1.7% | — |
| BCRX add |
1.4% | — |
| MRNA new |
1.0% | +37% |
| ANRO add |
0.9% | — |
| IONS new |
0.7% | — |
| DAWNGBX new |
0.7% | — |
| CRVS add |
0.7% | — |
| DMRA new |
0.6% | — |
| GH add |
0.5% | +62% |
| RVMD new |
0.5% | — |
| SABS add |
0.5% | — |
| TENX add |
0.5% | — |
| DBVT new |
0.4% | — |
| AVR add |
0.4% | — |
| STRO new |
0.3% | — |
| TNGX add |
0.3% | — |
| EVMN new |
0.2% | — |
| PHAT new |
0.2% | — |
| NMRA new |
0.2% | — |
| BBNX add |
0.2% | — |
| BLLN add |
0.1% | — |
| TWST new |
0.1% | — |
| SRZN new |
0.1% | — |
| AGMB new |
0.1% | — |
| EOLS new |
0.1% | — |
| OCUL new |
0.1% | — |
| APLSUSD new |
0.1% | — |
| EDSA new |
0.1% | — |
| ADPT new |
0.0% | — |
| CORT new |
0.0% | +57% |
| XGN new |
0.0% | — |
Rotated out of轮出 (29)
| APGE trim |
-34% | — |
| IMVT trim |
-20% | — |
| ABVX trim |
-28% | — |
| RGEN trim |
-11% | +42% |
| DRUG trim |
-16% | — |
| SION trim |
-44% | — |
| BLTE trim |
-63% | — |
| AXGN trim |
-11% | — |
| VRDN trim |
-62% | — |
| CTNM trim |
-14% | — |
| PALI trim |
-26% | — |
| OMDA trim |
-67% | — |
| NBIX trim |
-80% | +6% |
| IRD trim |
-58% | — |
| ADGM trim |
-62% | — |
| ADMA trim |
-47% | +3% |
| IKT trim |
-57% | — |
| PTN trim |
-12% | — |
| CPIX trim |
-42% | — |
 BIIB exit |
-100% | +7% |
 BSX exit |
-100% | -17% |
 CVS exit |
-100% | +10% |
 DHR exit |
-100% | +25% |
 DXCM exit |
-100% | +25% |
 GKOS exit |
-100% | +7% |
 KRYS exit |
-100% | +12% |
 PEN exit |
-100% | -4% |
 SDGR exit |
-100% | +34% |
 XBI exit |
-100% | +15% |
Trade log交易记录
last 40 graded trades, filing-date anchored, newest first — variable hold vs SPY最近40笔已评分交易，以申报日为锚，最新在前——持有期不定，相对SPYNo graded trades available for this fund.该基金暂无已评分交易。
Caveats注意事项 —
13F = quarterly, ~45-day lag, long-only US listed ≥$100M. No shorts, no cash, no non-US positions. This desk is context — ownership is never a directional signal here.13F = 季度披露，约45天滞后，仅含美股多头且持仓≥1亿美元。不含空头、现金或非美股仓位。本台仅为背景参考——持仓数据在此永远不是方向性信号。
Grades and reliability are descriptive ranks within a curated survivor cohort — they measure what filings did after their filing dates, not a manager-selection edge. Conviction and core-lean reads are descriptive composites earning a forward record via the pre-registered ledger (L5); sector/theme classification applies the current map to history.评级与可靠性为精选幸存者队列中的描述性排名——衡量申报日之后持仓的表现，而非经理选择能力。信念分与核心倾向为描述性综合指标，通过预注册账本（L5）积累前瞻记录；行业/主题分类将当前映射应用于历史。