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PERCEPTIVE ADVISORS LLC

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NEW YORK NY Investment Advisor Hedge Fund Activist Investor
13F Summary
Perceptive Advisors is based out of New York and is run by Joseph Edelman. Perceptive Advisors is a hedge fund with 29 clients and discretionary assets under management (AUM) of $9,715,749,804 (Form ADV from 2024-08-08). Their last reported 13F filing for Q4 2024 included $3,628,669,681 in managed 13F securities and a top 10 holdings concentration of 50.26%. Perceptive Advisors's largest holding is Verona Pharma Plc with shares held of 6,392,106. Whalewisdom has at least 129 13F filings, 115 13D filings, 490 13G filings, and 87 Form 4 filings
Business Description
The Advisor provides advisory services to clients, including managing client accounts and investing in SPACs. Advisor employees may receive economic benefits from their investments in SPAC Sponsor Equity, and certain Client Accounts have also invested in SPAC Sponsor Equity. Advisor employees may take board seats of business combination targets companies, and any pecuniary benefits received for director services will be applied to reduce the Management Fees paid by the Client Account. The Advisor engages an independent administrator to send monthly unaudited reports reviewing each Fund’s performance to investors. Investors in the Funds receive financial statements audited by an independent accounting firm. Reporting requirements for the Separate Account clients are negotiated on a case-by-case basis and vary by client. The Advisor does not compensate any third party for Client Account referrals.
Investment Strategy
The Advisor's investment strategy focuses on growth healthcare companies and value plays, with a particular emphasis on biotechnology. Their philosophy emphasizes maintaining an unbiased view of fundamental company news, acknowledging inherent uncertainty, and making objective real-time investment decisions. They believe that investment decision biases are the biggest obstacle to positive returns. The Advisor's portfolio manager and team of analysts use their expertise to identify opportunities to exploit relative value disparities and inefficiencies in both the long and short sides of the market. The Advisor's strategy also involves investing in securities traded over the counter and some illiquid securities. These investments are subject to investment-specific price fluctuations, as well as macro-economic, market, and industry-specific conditions. Additionally, some Client Accounts will invest in small, emerging companies that are unseasoned, unprofitable, and may lack resources or be dependent on the success of a single product or service. These companies may be more vulnerable to competition and overall economic conditions than larger, more established entities.
Owners
  • EDELMAN, JOSEPH, ERIC - CHIEF EXECUTIVE OFFICER AND PORTFOLIO MANAGER
  • MANNIX, JAMES, HENRY - CHIEF OPERATING OFFICER
  • RAKITIN, ALEXANDER, NMN - CHIEF COMPLIANCE OFFICER
  • FIERRO, PETER, WILLIAM - CHIEF FINANCIAL OFFICER
  • Click on the Ownership/Private Fund Data tab for more details.
Other Contact Information
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2024-12-31

Top Buys (13F)

2024-12-31

Top Sells (13F)

Name % Change
BHVN Biohaven Ltd 1.57%
SLNO Soleno Therapeutics 1.56%
APLT Applied Therapeutics 1.42%
APGE Apogee Therapeutics 1.2%
VKTX Viking Therapeutics 1.17%

2024-12-31

13F Holdings Summary

Name $ Change
VRNA Verona Pharma Plc 8.18%
ACLX Arcellx Inc 7.35%
FOLD Amicus Therapeutics 6.29%
RYTM Rhythm Pharmaceutica 5.68%
NUVL Nuvalent Inc 5.65%

2024-12-31

13F Activity

Market Value $3.63b, Prior: $4.73b
Inflows (Outflows) as % of Total MV (-16.2852)%
New Purchases 22 stocks
Added To 12 stocks
Sold out of 31 stocks
Reduced holdings in 43 stocks
Top 10 Holdings % 50.26%
Turnover %[1] 40.77%
Turnover Alt %[2] 8.9%
Time Held Top 20 6.7 quarters
Time Held Top 10 6.9 quarters
Time Held All 8.16 quarters

[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.

[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.

2024-12-31

13F Sector Allocation Over Time

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2024-12-31

Analysis

Top 20 equal-weighted holdings. Performance numbers calculated through 2024-12-31

Portfolio Performance