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PERCEPTIVE ADVISORS LLC

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13F filer, CIK 1224962, NEW YORK, NY

PERCEPTIVE ADVISORS LLC reported $6,661,817,069 across 109 holdings for the quarter ended 2026-06-30, in a 13F-HR filed 2026-08-14. Its ten largest share positions make up 48.93% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001012975-26-000777

Period
2026-06-30
Reported value
$6.66B
Holdings
109
Top 10 weight
48.93%
New
29
Sold out
14

Part of the filer group PERCEPTIVE ADVISORS LLC

  • Joseph Edelman
  • Perceptive Capital Solutions Holdings LP
  • Perceptive Life Sciences Master Fund, Ltd.
How groups are built

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ASNDnew+1,163,721$310M
KARDnew+8,200,662$196M
AVLNnew+2,675,296$88.1M
RLAYadded+4,355,046$81.5M
TNGXadded+2,568,847$80.3M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
ASNDexited-1,531,421-$350M
CNTAexited-5,258,903-$209M
DYNreduced-1,979,604-$44M
ENGNexited-5,827,506-$39.7M
GHreduced-258,673-$38.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2026

Share positions as resolved from 13F-HR 0001012975-26-000777, largest first. % of portfolio is the value over $6,440,507,069, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PRAXPRAXIS PRECISION MEDICINES IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 1,164,035 shares; 2024Q4: 1,329,735 shares; 2025Q1: 980,894 shares; 2025Q2: 752,921 shares; 2025Q3: 1,564,554 shares; 2025Q4: 1,995,986 shares; 2026Q1: 2,035,986 shares; 2026Q2: 2,035,986 shares 2,035,986$682M10.58%0Timeline
SYRESPYRE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,872,547 shares; 2024Q4: 2,574,723 shares; 2025Q1: 2,313,272 shares; 2025Q2: 1,529,445 shares; 2025Q3: 1,229,445 shares; 2025Q4: 3,069,225 shares; 2026Q1: 3,783,225 shares; 2026Q2: 4,319,496 shares 4,319,496$383M5.95%+536,271Timeline
CELCCELCUITY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,362,279 shares; 2024Q4: 2,362,279 shares; 2025Q1: 2,362,279 shares; 2025Q2: 1,633,208 shares; 2025Q3: 2,956,319 shares; 2025Q4: 3,160,200 shares; 2026Q1: 3,127,200 shares; 2026Q2: 3,197,200 shares 3,197,200$334M5.19%+70,000Timeline
ASNDASCENDIS PHARMA A/SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 1,163,721 shares 1,163,721$310M4.82%newTimeline
RYTMRHYTHM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 3,560,214 shares; 2024Q4: 3,680,473 shares; 2025Q1: 2,548,445 shares; 2025Q2: 2,418,299 shares; 2025Q3: 2,438,969 shares; 2025Q4: 2,546,391 shares; 2026Q1: 2,373,795 shares; 2026Q2: 2,586,295 shares 2,586,295$287M4.46%+212,500Timeline
ROIVROIVANT SCIENCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 847,745 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 3,331,465 shares; 2025Q3: 7,368,461 shares; 2025Q4: 7,985,461 shares; 2026Q1: 8,285,461 shares; 2026Q2: 8,085,461 shares 8,085,461$286M4.44%-200,000Timeline
RLAYRELAY THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,903,245 shares; 2026Q1: 9,751,141 shares; 2026Q2: 14,106,187 shares 14,106,187$264M4.1%+4,355,046Timeline
TVTXTRAVERE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 834,252 shares; 2025Q3: 3,794,615 shares; 2025Q4: 4,278,180 shares; 2026Q1: 4,142,551 shares; 2026Q2: 3,752,574 shares 3,752,574$213M3.31%-389,977Timeline
KARDKARDIGAN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 8,200,662 shares 8,200,662$196M3.04%new2026-09-29, 13D/A: 8,254,144 shares, 8.8% of the class, 13D/A filed 2026-10-01 Timeline
NUVLNUVALENT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,979,235 shares; 2024Q4: 2,619,977 shares; 2025Q1: 1,633,968 shares; 2025Q2: 1,375,180 shares; 2025Q3: 1,562,336 shares; 2025Q4: 1,665,105 shares; 2026Q1: 1,580,505 shares; 2026Q2: 1,580,505 shares 1,580,505$195M3.03%0Timeline
EWTXEDGEWISE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,330,294 shares; 2024Q4: 2,685,537 shares; 2025Q1: 6,547,328 shares; 2025Q2: 4,639,949 shares; 2025Q3: 3,795,894 shares; 2025Q4: 4,457,974 shares; 2026Q1: 4,423,974 shares; 2026Q2: 4,373,974 shares 4,373,974$178M2.76%-50,000Timeline
APGEAPOGEE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,015,007 shares; 2024Q4: 1,047,232 shares; 2025Q1: 1,122,767 shares; 2025Q2: 1,182,148 shares; 2025Q3: 1,351,989 shares; 2025Q4: 2,330,651 shares; 2026Q1: 1,540,384 shares; 2026Q2: 1,308,113 shares 1,308,113$174M2.7%-232,271Timeline
AMLXAMYLYX PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,125,649 shares; 2024Q4: 6,774,348 shares; 2025Q1: 7,874,348 shares; 2025Q2: 7,902,365 shares; 2025Q3: 8,952,365 shares; 2025Q4: 8,284,882 shares; 2026Q1: 8,284,882 shares; 2026Q2: 8,334,882 shares 8,334,882$150M2.32%+50,000Timeline
MGTXMEIRAGTX HLDGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 12,581,103 shares; 2024Q4: 12,581,103 shares; 2025Q1: 12,581,103 shares; 2025Q2: 12,626,103 shares; 2025Q3: 12,626,103 shares; 2025Q4: 10,326,103 shares; 2026Q1: 10,326,103 shares; 2026Q2: 10,786,658 shares 10,786,658$146M2.26%+460,555Timeline
ORKAORUKA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 1,235,187 shares; 2024Q4: 845,567 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,268,021 shares; 2025Q4: 1,476,501 shares; 2026Q1: 1,395,501 shares; 2026Q2: 1,345,063 shares 1,345,063$128M1.99%-50,438Timeline
INBXINHIBRX BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 1,064,026 shares; 2024Q4: 1,064,026 shares; 2025Q1: 1,064,026 shares; 2025Q2: 977,892 shares; 2025Q3: 1,327,707 shares; 2025Q4: 1,452,707 shares; 2026Q1: 1,442,707 shares; 2026Q2: 1,297,763 shares 1,297,763$123M1.91%-144,944Timeline
PTGXPROTAGONIST THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 1,374,563 shares; 2024Q4: 1,271,662 shares; 2025Q1: 1,091,271 shares; 2025Q2: 1,074,448 shares; 2025Q3: 1,030,134 shares; 2025Q4: 1,350,425 shares; 2026Q1: 1,230,879 shares; 2026Q2: 981,879 shares 981,879$120M1.87%-249,000Timeline
SLDBSOLID BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 6,906,646 shares; 2024Q4: 6,906,646 shares; 2025Q1: 11,906,646 shares; 2025Q2: 11,906,646 shares; 2025Q3: 11,833,539 shares; 2025Q4: 11,833,539 shares; 2026Q1: 11,906,646 shares; 2026Q2: 11,906,646 shares 11,906,646$119M1.85%0Timeline
ZYMEZYMEWORKS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,180,020 shares; 2024Q4: 2,130,020 shares; 2025Q1: 1,864,672 shares; 2025Q2: 1,275,274 shares; 2025Q3: 2,090,663 shares; 2025Q4: 3,261,850 shares; 2026Q1: 3,510,078 shares; 2026Q2: 4,182,953 shares 4,182,953$109M1.7%+672,875Timeline
TNGXTANGO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 513,035 shares; 2026Q1: 808,153 shares; 2026Q2: 3,377,000 shares 3,377,000$106M1.64%+2,568,847Timeline
IMTXIMMATICS N.VQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 8,086,159 shares; 2024Q4: 9,383,456 shares; 2025Q1: 9,383,456 shares; 2025Q2: 9,383,456 shares; 2025Q3: 9,383,456 shares; 2025Q4: 10,383,456 shares; 2026Q1: 10,383,456 shares; 2026Q2: 10,383,456 shares 10,383,456$105M1.63%0Timeline
NRIXNURIX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 330,614 shares; 2025Q1: 297,553 shares; 2025Q2: 1,096,985 shares; 2025Q3: 1,416,149 shares; 2025Q4: 3,555,877 shares; 2026Q1: 3,710,877 shares; 2026Q2: 4,320,422 shares 4,320,422$105M1.63%+609,545Timeline
BCRXBIOCRYST PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 3,162,529 shares; 2026Q1: 7,434,033 shares; 2026Q2: 10,308,888 shares 10,308,888$103M1.6%+2,874,855Timeline
RVMDREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 258,600 shares; 2026Q2: 527,600 shares 527,600$98.8M1.53%+269,000Timeline
AVLNAVALYN PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 2,675,296 shares 2,675,296$88.1M1.37%newTimeline
DYNDYNE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 718,144 shares; 2024Q4: 543,277 shares; 2025Q1: 2,313,403 shares; 2025Q2: 2,247,390 shares; 2025Q3: 540,444 shares; 2025Q4: 3,478,944 shares; 2026Q1: 4,668,839 shares; 2026Q2: 2,689,235 shares 2,689,235$59.7M0.93%-1,979,604Timeline
BIIBBIOGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 124,000 shares; 2026Q1: not reported; 2026Q2: 276,173 shares 276,173$59.7M0.93%newTimeline
IMVTIMMUNOVANT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,378,762 shares; 2024Q4: 2,139,199 shares; 2025Q1: 2,844,072 shares; 2025Q2: 2,137,890 shares; 2025Q3: 1,587,890 shares; 2025Q4: 1,994,890 shares; 2026Q1: 1,597,383 shares; 2026Q2: 1,357,383 shares 1,357,383$52.3M0.81%-240,000Timeline
UNHUNITEDHEALTH GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 116,806 shares 116,806$48.5M0.75%newTimeline
IONSIONIS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 504,000 shares; 2026Q2: 566,000 shares 566,000$44.9M0.7%+62,000Timeline
STROSUTRO BIOPHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 715,307 shares; 2026Q2: 1,304,846 shares 1,304,846$43.3M0.67%+589,539Timeline
ANROALTO NEUROSCIENCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 155,366 shares; 2025Q4: 1,784,393 shares; 2026Q1: 2,009,893 shares; 2026Q2: 1,609,893 shares 1,609,893$42.5M0.66%-400,000Timeline
JAZZJAZZ PHARMACEUTICALS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 170,000 shares; 2026Q1: 170,000 shares; 2026Q2: 170,000 shares 170,000$41M0.64%0Timeline
CRVSCORVUS PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,438,595 shares; 2025Q3: 1,438,595 shares; 2025Q4: 692,441 shares; 2026Q1: 2,292,441 shares; 2026Q2: 2,667,441 shares 2,667,441$39.9M0.62%+375,000Timeline
SIONSIONNA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,251,101 shares; 2025Q2: 1,216,045 shares; 2025Q3: 1,179,098 shares; 2025Q4: 1,179,098 shares; 2026Q1: 658,439 shares; 2026Q2: 905,000 shares 905,000$39.8M0.62%+246,561Timeline
CTMXCYTOMX THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 6,993,646 shares; 2025Q3: 9,680,185 shares; 2025Q4: 9,680,185 shares; 2026Q1: 10,098,824 shares; 2026Q2: 10,439,185 shares 10,439,185$39.1M0.61%+340,361Timeline
AORTARTIVION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,793,703 shares; 2024Q4: 2,793,703 shares; 2025Q1: 2,793,703 shares; 2025Q2: 2,793,703 shares; 2025Q3: 2,020,000 shares; 2025Q4: 1,722,290 shares; 2026Q1: 1,637,290 shares; 2026Q2: 1,737,290 shares 1,737,290$39M0.61%+100,000Timeline
XFORX4 PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 6,314,452 shares; 2026Q1: 6,737,648 shares; 2026Q2: 7,933,491 shares 7,933,491$37M0.58%+1,195,843Timeline
CORTCORCEPT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 50,000 shares; 2026Q2: 398,385 shares 398,385$34.6M0.54%+348,385Timeline
RGENREPLIGEN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 129,801 shares; 2025Q2: 166,000 shares; 2025Q3: 270,428 shares; 2025Q4: 315,541 shares; 2026Q1: 280,541 shares; 2026Q2: 248,212 shares 248,212$33.9M0.53%-32,329Timeline
AVRANTERIS TECHNOLOGIES GLOBALQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 2,140,000 shares; 2025Q1: 2,140,000 shares; 2025Q2: 1,705,130 shares; 2025Q3: 1,705,130 shares; 2025Q4: 1,675,476 shares; 2026Q1: 3,425,476 shares; 2026Q2: 3,425,476 shares 3,425,476$33.7M0.52%0Timeline
RAPPRAPPORT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 748,183 shares; 2024Q4: 311,551 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 403,923 shares; 2025Q4: 673,923 shares; 2026Q1: 673,923 shares; 2026Q2: 773,342 shares 773,342$32.2M0.5%+99,419Timeline
DMRADAMORA THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 1,223,000 shares; 2026Q2: 1,223,000 shares 1,223,000$31.8M0.49%0Timeline
CRLCHARLES RIV LABS INTL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 100,000 shares; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 140,000 shares 140,000$31.8M0.49%newTimeline
AXSMAXSOME THERAPEUTICS INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 782,844 shares; 2024Q4: 664,074 shares; 2025Q1: 355,107 shares; 2025Q2: 198,534 shares; 2025Q3: 148,900 shares; 2025Q4: 148,900 shares; 2026Q1: 149,950 shares; 2026Q2: 118,450 shares 118,450$29M0.45%-31,500Timeline
DBVTDBV TECHNOLOGIES S AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 964,391 shares; 2026Q2: 1,653,350 shares 1,653,350$27.1M0.42%+688,959Timeline
IRTCIRHYTHM HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 22,591 shares; 2024Q4: 65,153 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 123,000 shares; 2025Q4: 108,000 shares; 2026Q1: 105,026 shares; 2026Q2: 223,766 shares 223,766$26.6M0.41%+118,740Timeline
ADPTADAPTIVE BIOTECHNOLOGIES CORQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 930,972 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 152,500 shares; 2026Q2: 1,217,325 shares 1,217,325$26.1M0.41%+1,064,825Timeline
SABSSAB BIOTHERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 803,210 shares; 2026Q1: 6,431,743 shares; 2026Q2: 6,627,501 shares 6,627,501$25.8M0.4%+195,758Timeline
DHRDANAHER CORP DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 200,000 shares; 2026Q1: not reported; 2026Q2: 130,000 shares 130,000$24.8M0.38%newTimeline
TENXTENAX THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 439,142 shares; 2026Q1: 1,447,782 shares; 2026Q2: 1,700,000 shares 1,700,000$24.7M0.38%+252,218Timeline
NAUTNAUTILUS BIOTECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 12,594,211 shares; 2024Q4: 12,594,211 shares; 2025Q1: 12,594,211 shares; 2025Q2: 12,594,211 shares; 2025Q3: 12,594,211 shares; 2025Q4: 12,594,211 shares; 2026Q1: 12,594,211 shares; 2026Q2: 11,634,211 shares 11,634,211$21.8M0.34%-960,000Timeline
OBIOORCHESTRA BIOMED HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 4,592,556 shares; 2024Q4: 4,592,556 shares; 2025Q1: 4,592,556 shares; 2025Q2: 4,592,556 shares; 2025Q3: 5,292,556 shares; 2025Q4: 5,127,256 shares; 2026Q1: 5,037,906 shares; 2026Q2: 5,037,906 shares 5,037,906$21.7M0.34%0Timeline
ISRGINTUITIVE SURGICAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 58,119 shares; 2024Q4: 63,119 shares; 2025Q1: 40,619 shares; 2025Q2: 45,119 shares; 2025Q3: 52,119 shares; 2025Q4: 87,919 shares; 2026Q1: 85,419 shares; 2026Q2: 51,884 shares 51,884$20.6M0.32%-33,535Timeline
ANLADLAI NORTYE GROUP LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 1,793,190 shares 1,793,190$20.6M0.32%newTimeline
CTNMCONTINEUM THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 1,516,668 shares; 2024Q4: 1,441,249 shares; 2025Q1: 1,441,249 shares; 2025Q2: 699,486 shares; 2025Q3: 714,592 shares; 2025Q4: 1,464,592 shares; 2026Q1: 1,255,592 shares; 2026Q2: 1,255,592 shares 1,255,592$20.6M0.32%0Timeline
NVCTNUVECTIS PHARMA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 1,000,000 shares 1,000,000$18.4M0.29%newTimeline
PALIPALISADE BIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 12,050,000 shares; 2026Q1: 8,928,149 shares; 2026Q2: 8,425,065 shares 8,425,065$17.6M0.27%-503,084Timeline
OMDAOMADA HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,426,330 shares; 2025Q3: 2,396,330 shares; 2025Q4: 2,396,330 shares; 2026Q1: 786,330 shares; 2026Q2: 786,330 shares 786,330$17.3M0.27%0Timeline
LONALEONABIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 540,296 shares; 2025Q4: 1,859,322 shares; 2026Q1: 1,859,322 shares; 2026Q2: 1,859,322 shares 1,859,322$17.1M0.27%0Timeline
EOLSEVOLUS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 5,356,622 shares; 2024Q4: 5,145,846 shares; 2025Q1: 4,129,142 shares; 2025Q2: 2,474,843 shares; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 1,286,862 shares; 2026Q2: 2,459,285 shares 2,459,285$17.1M0.27%+1,172,423Timeline
IVVDINVIVYD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 21,785,166 shares; 2026Q1: 20,859,303 shares; 2026Q2: 18,490,636 shares 18,490,636$16.1M0.25%-2,368,667Timeline
MIRMMIRUM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 259,545 shares; 2026Q1: not reported; 2026Q2: 115,391 shares 115,391$13.5M0.21%newTimeline
SRZNSURROZEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 229,393 shares; 2026Q2: 503,985 shares 503,985$13.1M0.2%+274,592Timeline
BBNXBETA BIONICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,593,608 shares; 2025Q2: 1,593,608 shares; 2025Q3: 277,944 shares; 2025Q4: 602,944 shares; 2026Q1: 842,944 shares; 2026Q2: 832,944 shares 832,944$13.1M0.2%-10,000Timeline
AXGNAXOGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 784,140 shares; 2026Q1: 697,312 shares; 2026Q2: 247,312 shares 247,312$11.4M0.18%-450,000Timeline
OSCROSCAR HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 400,000 shares 400,000$11.4M0.18%newTimeline
OCSOCULIS HOLDING AGQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 493,827 shares; 2026Q1: 493,827 shares; 2026Q2: 808,827 shares 808,827$11.2M0.17%+315,000Timeline
SPTXSEAPORT THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 500,000 shares 500,000$10.9M0.17%newTimeline
VRDNVIRIDIAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 2,812,665 shares; 2024Q4: 1,486,508 shares; 2025Q1: 659,662 shares; 2025Q2: 447,507 shares; 2025Q3: 1,462,400 shares; 2025Q4: 3,042,703 shares; 2026Q1: 1,170,829 shares; 2026Q2: 581,980 shares 581,980$10.7M0.17%-588,849Timeline
BSXBOSTON SCIENTIFIC CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 130,000 shares; 2025Q2: 280,000 shares; 2025Q3: 310,000 shares; 2025Q4: 979,000 shares; 2026Q1: not reported; 2026Q2: 250,000 shares 250,000$10.7M0.17%newTimeline
BLLNBILLIONTOONE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 72,812 shares; 2026Q1: 91,812 shares; 2026Q2: 86,812 shares 86,812$10.4M0.16%-5,000Timeline
ABVXABIVAX SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 388,608 shares; 2025Q4: 458,343 shares; 2026Q1: 328,884 shares; 2026Q2: 74,000 shares 74,000$9.86M0.15%-254,884Timeline
NTRANATERA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 220,000 shares; 2024Q4: 125,000 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 34,689 shares 34,689$9.42M0.15%newTimeline
ENGNENGENE THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 4,822,169 shares 4,822,169$8.34M0.13%newTimeline
RACCRESEARCH ALLIANCE CORP IIIQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 750,000 shares 750,000$8.03M0.12%newTimeline
AGMBAGOMAB THERAPEUTICS NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 600,000 shares; 2026Q2: 600,000 shares 600,000$7.79M0.12%0Timeline
CGEMCULLINAN THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 80,100 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 426,478 shares 426,478$7.77M0.12%newTimeline
QUREUNIQURE NVQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 20,000 shares; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 168,000 shares 168,000$7.74M0.12%newTimeline
MOBIMOBIA MED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 523,654 shares 523,654$7.02M0.11%newTimeline
ADGMADAGIO MED HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 9,812,419 shares; 2024Q4: 9,812,419 shares; 2025Q1: 9,812,419 shares; 2025Q2: 9,876,576 shares; 2025Q3: 9,876,576 shares; 2025Q4: 9,876,576 shares; 2026Q1: 9,876,576 shares; 2026Q2: 9,876,586 shares 9,876,586$6.44M0.1%+10Timeline
GHGUARDANT HEALTH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 160,000 shares; 2026Q1: 300,000 shares; 2026Q2: 41,327 shares 41,327$6.2M0.1%-258,673Timeline
PHATPHATHOM PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 925,000 shares; 2026Q2: 532,000 shares 532,000$5.77M0.09%-393,000Timeline
OTLKOUTLOOK THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 3,139,216 shares 3,139,216$4.99M0.08%newTimeline
COGTCOGENT BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 121,082 shares; 2026Q1: 121,082 shares; 2026Q2: 121,082 shares 121,082$4.69M0.07%0Timeline
EDSAEDESA BIOTECH INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 563,239 shares; 2026Q2: 563,239 shares 563,239$4.58M0.07%0Timeline
AVTXAVALO THERAPEUTICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 520,000 shares; 2025Q2: 139,667 shares; 2025Q3: 139,667 shares; 2025Q4: 139,667 shares; 2026Q1: 139,667 shares; 2026Q2: 219,813 shares 219,813$4.06M0.06%+80,146Timeline
TWSTTWIST BIOSCIENCE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 150,000 shares; 2026Q2: 36,812 shares 36,812$3.79M0.06%-113,188Timeline
CBIOCRESCENT BIOPHARMA INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 453,686 shares; 2025Q3: 453,686 shares; 2025Q4: 453,686 shares; 2026Q1: 206,942 shares; 2026Q2: 206,942 shares 206,942$3.72M0.06%0Timeline
XERSXERIS BIOPHARMA HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 467,013 shares 467,013$3.7M0.06%newTimeline
OMOUTSET MED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 833,333 shares; 2025Q2: 833,333 shares; 2025Q3: 833,333 shares; 2025Q4: 833,333 shares; 2026Q1: 833,333 shares; 2026Q2: 833,333 shares 833,333$3.6M0.06%0Timeline
BDSXBIODESIX INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 108,694 shares; 2025Q4: 108,694 shares; 2026Q1: not reported; 2026Q2: 108,694 shares 108,694$2.45M0.04%newTimeline
RVMDWREVOLUTION MEDICINES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 250,000 shares; 2024Q4: 250,000 shares; 2025Q1: 250,000 shares; 2025Q2: 250,000 shares; 2025Q3: 250,000 shares; 2025Q4: 250,000 shares; 2026Q1: 250,000 shares; 2026Q2: 250,000 shares 250,000$2.34M0.04%0Timeline
CNTBCONNECT BIOPHARMA HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 792,696 shares; 2026Q1: 792,696 shares; 2026Q2: 792,696 shares 792,696$1.89M0.03%0Timeline
KPRXKIORA PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: not reported; 2026Q2: 438,471 shares 438,471$1.15M0.02%newTimeline
MDLNMEDLINE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 28,000 shares; 2026Q1: 28,000 shares; 2026Q2: 28,000 shares 28,000$1.1M0.02%0Timeline
ADMAADMA BIOLOGICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 1,060,200 shares; 2024Q4: 890,280 shares; 2025Q1: 1,373,233 shares; 2025Q2: 1,303,468 shares; 2025Q3: 1,153,468 shares; 2025Q4: 883,468 shares; 2026Q1: 467,233 shares; 2026Q2: 113,765 shares 113,765$952K0.01%-353,468Timeline
CPIXCUMBERLAND PHARMACEUTICALS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 341,087 shares; 2026Q1: 196,978 shares; 2026Q2: 96,982 shares 96,982$628K0.01%-99,996Timeline
XGNEXAGEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: not reported; 2026Q1: 114,893 shares; 2026Q2: 114,893 shares 114,893$534K0.01%0Timeline
ENSCENSYSCE BIOSCIENCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: not reported; 2024Q4: 86,666 shares; 2025Q1: 86,666 shares; 2025Q2: 86,666 shares; 2025Q3: 86,666 shares; 2025Q4: 86,666 shares; 2026Q1: 86,666 shares; 2026Q2: 86,666 shares 86,666$25.1K<0.01%0Timeline
SRZNWSURROZEN INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q3: 166,666 shares; 2024Q4: 166,666 shares; 2025Q1: 166,666 shares; 2025Q2: 166,666 shares; 2025Q3: 166,666 shares; 2025Q4: 166,666 shares; 2026Q1: 166,666 shares; 2026Q2: 166,666 shares 166,666$2.75K<0.01%0Timeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
MRNAMODERNA INC COMput1,000,000$70M0
XBISPDR SERIES TRUST S&P BIOTECHput300,000$47.5Mnew
EYPTEYEPOINT INC Stockput2,000,000$28.6Mnew
CAPRCAPRICOR THERAPEUTICS INC COMMON STOCKcall1,000,000$24.1Mnew
SLSSELLAS LIFE SCIENCES GROUP I COM NEWput1,500,000$22.1Mnew
NAMSNEWAMSTERDAM PHARMA COMPANY COMMON STOCKput500,000$16.9Mnew
CAPRCAPRICOR THERAPEUTICS INC COMMON STOCKput500,000$12Mnew

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
CELCUITY INCCELCUITY INC NOTE 2.750% 8/0principal6,500,000$14.6M0

Sold out in Q2 2026

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
ASNDASCENDIS PHARMA A/S1,531,421$350Mshares
CNTACENTESSA PHARMACEUTICALS PLC5,258,903$209Mshares
ENGNENGENE HOLDINGS INC5,827,506$39.7Mshares
DAWNDAY ONE BIOPHARMACEUTICALS I1,755,799$37.6Mshares
DRUGBRIGHT MINDS BIOSCIENCES INC377,544$27.5Mshares
BLTEBELITE BIO INC151,979$24.2Mshares
EVMNEVOMMUNE INC448,350$10.3Mshares
NMRANEUMORA THERAPEUTICS INC.5,104,097$9.95Mshares
NBIXNEUROCRINE BIOSCIENCES INC65,050$8.57Mshares
IRDOPUS GENETICS INC1,835,842$8.35Mshares
OCULOCULAR THERAPEUTIX INC500,000$4.24Mcall
IKTINHIBIKASE THERAPEUTICS INC2,315,000$3.89Mshares
APLSAPELLIS PHARMACEUTICALS INC80,956$3.26Mshares
PTNPALATIN TECHNOLOGIES INC61,945$1.08Mshares

How Q2 2026 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001012975-26-000777 base2026-08-14acceptance time not in the bulk data set