Institutional 13F · Context Only · Never a Buy List机构 13F · 仅供参考 · 非买入清单
Perceptive Advisors
sector_healthcare
A
leaderboard rank榜单排名 #9WATCH观察
Book持仓规模
$6.6B
long US listed only仅美股多头
Positions持仓数
107
94% resolved已解析
Top-10 concentration前十集中度
47%
% of book占组合%
Turnover换手
MED
29.3% per quarter每季
Median excess中位超额
+0%
buys vs SPY, since filing买入相对SPY，自披露起 · n 326
Hit rate胜率
50%
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 BIIB, UNH, CRL, DHR, BSX (+2.6pp of book this quarter)核心倾向：医疗保健（等权） — 本季度加仓 BIIB、UNH、CRL、DHR、BSX（占组合 +2.6pp）
Health Care (Equal-Weight)医疗保健（等权）
+2.6pp
4.0% of book held占组合持有
· 7 names标的
· US Sectors (EW)
BIIB
UNH
CRL
DHR
BSX
OncologyOncology
+1.6pp
1.7% of book held占组合持有
· 2 names标的
· Healthcare & Biotech
TNGX
Big Pharma大型药企
+0.9pp
0.9% of book held占组合持有
· 1 names标的
· Healthcare
BIIB
Managed Care & Insurers管理式医疗与保险
+0.9pp
0.9% of book held占组合持有
· 2 names标的
· Healthcare
UNH
OSCR
MedicalMedical
+0.4pp
0.4% of book held占组合持有
· 1 names标的
· Wearables
IRTC
TelemedicineTelemedicine
+0.4pp
0.4% of book held占组合持有
· 1 names标的
· Healthcare & Biotech
IRTC
Descriptive read of the latest filing — themes clustered from curated baskets (Finviz fallback), added-pp = Σ % of book bought this quarter. Not a forecast.基于最新披露的描述性解读——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，以公开披露日为锚相对SPY评分——精选幸存者队列中的描述性排名Reliability可靠性: · 13 scored quarters已评分季度 · 54% positive为正 · recent-4 median近4季中位 +4% vs all-time对全期 +7%
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 | 18 | -43% | 44% | -16% |
| 2023-09-30 | 23 | +27% | 52% | +26% |
| 2023-12-31 | 27 | -41% | 33% | -25% |
| 2024-03-31 | 33 | -30% | 39% | -5% |
| 2024-06-30 | 16 | +10% | 50% | +7% |
| 2024-09-30 | 24 | +11% | 54% | -15% |
| 2024-12-31 | 15 | -19% | 27% | -16% |
| 2025-03-31 | 17 | +24% | 59% | +4% |
| 2025-06-30 | 21 | +7% | 57% | +13% |
| 2025-09-30 | 29 | -0% | 48% | -0% |
| 2025-12-31 | 47 | +8% | 64% | -8% |
| 2026-03-31 | 21 | +11% | 76% | +27% |
| 2026-06-30 | 35 | -1% | 43% | — |
Sector exposure & rotation行业配置与轮动
value-weighted, latest filing; QoQ deltas vs prior quarter按市值加权，最新披露；季度环比变化对上季Current weights当前权重 · 2026-06-30
Healthcare
87.0%
▼ -7.4pp
Unclassified
13.1%
▲ +7.5pp
Theme categories主题类别
US Sectors (EW) 2.1%
Healthcare 1.8%
Industrials 0.3%
Rotating into (QoQ)轮入（环比）
no QoQ increases无环比增持
Rotating out of (QoQ)轮出（环比）
Healthcare -7.4pp
Technology -0.1pp
Quarter history — top-3 sectors季度历史 — 前三大行业
| 2026-06-30 | Healthcare 87% · Unclassified 13% · |
| 2026-03-31 | Healthcare 94% · Unclassified 6% · Technology 0% |
| 2025-12-31 | Healthcare 84% · Unclassified 13% · Basic Materials 2% |
| 2025-09-30 | Healthcare 78% · Unclassified 20% · Financial 1% |
| 2025-06-30 | Healthcare 80% · Unclassified 19% · Financial 1% |
| 2025-03-31 | Healthcare 69% · Unclassified 31% · Technology 0% |
| 2024-12-31 | Healthcare 70% · Unclassified 30% · Technology 0% |
| 2024-09-30 | Healthcare 66% · Unclassified 34% · Basic Materials 0% |
| 2024-06-30 | Healthcare 55% · Unclassified 45% · Technology 0% |
| 2024-03-31 | Healthcare 57% · Unclassified 43% · Technology 0% |
| 2023-12-31 | Unclassified 55% · Healthcare 45% · Technology 0% |
| 2023-09-30 | Unclassified 52% · Healthcare 48% · Technology 0% |
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.截至披露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。101 positions shown项持仓 · resolved已解析 101/107 (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自披露 ↕ |
|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 |  PRAX |
Praxis Precision Medicines I | 10.2% | $682M | hold | +0% | — | 70 · HIGH | Healthcare | — | — |
| 2 |  SYRE |
Spyre Therapeutics Inc | 5.8% | $383M | add | +14% | 3q | 85 · HIGH | Healthcare | — | -15% |
| 3 |  CELC |
Celcuity Inc | 5.0% | $334M | hold | +2% | — | 69 · MODERATE | Healthcare | — | -9% |
| 4 |  RYTM |
Rhythm Pharmaceuticals Inc | 4.3% | $287M | hold | +9% | — | 69 · MODERATE | Healthcare | — | -11% |
| 5 |  ROIV |
Roivant Sciences Ltd | 4.3% | $286M | hold | -2% | — | 69 · MODERATE | Healthcare | — | +17% |
| 6 |  RLAY |
Relay Therapeutics Inc | 4.0% | $264M | add | +45% | 3q | 83 · HIGH | Healthcare | — | -8% |
| 7 |  TVTX |
Travere Therapeutics Inc | 3.2% | $213M | hold | -9% | — | 68 · MODERATE | Healthcare | — | +8% |
| 8 |  KARD |
Kardigan Inc | 2.9% | $196M | new | — | 1q | 73 · HIGH | — | — | +6% |
| 9 |  NUVL |
Nuvalent Inc | 2.9% | $195M | hold | +0% | — | 68 · MODERATE | Healthcare | — | — |
| 10 |  EWTX |
Edgewise Therapeutics Inc | 2.7% | $178M | hold | -1% | — | 67 · MODERATE | Healthcare | — | +2% |
| 11 |  APGE |
Apogee Therapeutics Inc | 2.6% | $174M | trim | -15% | — | 52 · MODERATE | Healthcare | — | — |
| 12 |  AMLX |
Amylyx Pharmaceuticals Inc | 2.2% | $150M | hold | +1% | — | 51 · MODERATE | Healthcare | — | — |
| 13 |  MGTX |
Meiragtx Hldgs Plc | 2.2% | $146M | hold | +4% | — | 51 · MODERATE | Healthcare | — | -1% |
| 14 |  ORKA |
Oruka Therapeutics Inc | 1.9% | $128M | hold | -4% | — | 50 · MODERATE | Healthcare | — | -17% |
| 15 |  INBX |
Inhibrx Biosciences Inc | 1.9% | $123M | trim | -10% | — | 50 · MODERATE | Healthcare | — | +32% |
| 16 |  PTGX |
Protagonist Therapeutics Inc | 1.8% | $120M | trim | -20% | — | 50 · MODERATE | Healthcare | — | -7% |
| 17 |  SLDB |
Solid Biosciences Inc | 1.8% | $119M | hold | +0% | — | 50 · MODERATE | Healthcare | — | — |
| 18 |  ZYME |
Zymeworks Inc | 1.6% | $109M | add | +19% | 1q | 54 · MODERATE | Healthcare | — | +5% |
| 19 | TNGX |
Tango Therapeutics Inc | 1.6% | $106M | add | +318% | 3q | 64 · MODERATE | Healthcare | Oncology | -6% |
| 20 |  NRIX |
Nurix Therapeutics Inc | 1.6% | $105M | add | +16% | 1q | 53 · MODERATE | Healthcare | — | -3% |
| 21 |  BCRX |
Biocryst Pharmaceuticals Inc | 1.6% | $103M | add | +39% | 3q | 63 · MODERATE | Healthcare | — | -17% |
| 22 |  RVMD |
Revolution Medicines Inc | 1.5% | $99M | add | +104% | 2q | 58 · MODERATE | Healthcare | — | -1% |
| 23 |  AVLN |
Avalyn Pharmaceuticals Inc | 1.3% | $88M | new | — | 1q | 42 · LOW | Healthcare | — | — |
| 24 |  MRNA |
Moderna Inc | 1.1% | $70M | hold | +0% | — | 47 · MODERATE | Healthcare | Health Care (Equal-Weight) | +119% |
| 25 |  DYN |
Dyne Therapeutics Inc | 0.9% | $60M | trim | -42% | — | 37 · LOW | Healthcare | — | -29% |
| 26 | BIIB |
Biogen Inc | 0.9% | $60M | new | — | 1q | 42 · LOW | Healthcare | Big Pharma, Health Care (Equal-Weight) | +5% |
| 27 |  IMVT |
Immunovant Inc | 0.8% | $52M | trim | -15% | — | 36 · LOW | Healthcare | — | -10% |
| 28 | UNH |
Unitedhealth Group Inc | 0.7% | $49M | new | — | 1q | 31 · LOW | Healthcare | Managed Care & Insurers, Health Care (Equal-Weight) | -2% |
| 29 |  XBI |
Spdr Series Trust | 0.7% | $47M | new | — | 1q | 40 · LOW | — | — | +0% |
| 30 |  IONS |
Ionis Pharmaceuticals Inc | 0.7% | $45M | add | +12% | 2q | 45 · MODERATE | Healthcare | — | -1% |
| 31 |  STRO |
Sutro Biopharma Inc | 0.7% | $43M | add | +82% | 2q | 45 · LOW | Healthcare | — | — |
| 32 |  ANRO |
Alto Neuroscience Inc | 0.6% | $42M | trim | -20% | — | 34 · LOW | Healthcare | — | — |
| 33 |  JAZZ |
Jazz Pharmaceuticals Plc | 0.6% | $41M | hold | +0% | — | 34 · LOW | Healthcare | Therapeutics | -0% |
| 34 |  CRVS |
Corvus Pharmaceuticals Inc | 0.6% | $40M | add | +16% | 2q | 44 · LOW | Healthcare | — | -12% |
| 35 |  SION |
Sionna Therapeutics Inc | 0.6% | $40M | add | +37% | 1q | 39 · LOW | Healthcare | — | +28% |
| 36 |  CTMX |
Cytomx Therapeutics Inc. | 0.6% | $39M | hold | +3% | — | 33 · LOW | Healthcare | — | — |
| 37 |  AORT |
Artivion Inc | 0.6% | $39M | hold | +6% | — | 33 · LOW | Healthcare | — | -10% |
| 38 |  XFOR |
X4 Pharmaceuticals Inc | 0.6% | $37M | add | +18% | 1q | 37 · LOW | Healthcare | — | — |
| 39 |  CAPR |
Capricor Therapeutics Inc | 0.5% | $36M | new | — | 1q | 37 · LOW | Healthcare | — | +13% |
| 40 |  CORT |
Corcept Therapeutics Inc | 0.5% | $35M | add | +697% | 2q | 42 · LOW | Healthcare | — | -3% |
| 41 |  RGEN |
Repligen Corp | 0.5% | $34M | trim | -12% | — | 31 · LOW | Healthcare | — | -1% |
| 42 |  AVR |
Anteris Technologies Global | 0.5% | $34M | hold | +0% | — | 31 · LOW | Healthcare | — | -10% |
| 43 |  RAPP |
Rapport Therapeutics Inc | 0.5% | $32M | add | +15% | 1q | 35 · LOW | Healthcare | — | — |
| 44 |  DMRA |
Damora Therapeutics Inc | 0.5% | $32M | hold | +0% | — | 30 · LOW | Healthcare | — | -9% |
| 45 | CRL |
Charles Riv Labs Intl Inc | 0.5% | $32M | new | — | 1q | 35 · LOW | Healthcare | Health Care (Equal-Weight) | -2% |
| 46 |  AXSM |
Axsome Therapeutics Inc. | 0.4% | $29M | trim | -21% | — | 29 · LOW | — | — | +3% |
| 47 |  EYPT |
Eyepoint Inc | 0.4% | $29M | new | — | 1q | 34 · LOW | Healthcare | — | -12% |
| 48 |  DBVT |
Dbv Technologies S A | 0.4% | $27M | add | +71% | 2q | 39 · LOW | — | — | -18% |
| 49 | IRTC |
Irhythm Holdings Inc | 0.4% | $27M | add | +113% | 1q | 33 · LOW | Healthcare | Medical, Telemedicine | +6% |
| 50 |  ADPT |
Adaptive Biotechnologies Cor | 0.4% | $26M | add | +698% | 2q | 38 · LOW | Healthcare | — | -1% |
| 51 |  SABS |
Sab Biotherapeutics Inc | 0.4% | $26M | hold | +3% | — | 28 · LOW | Healthcare | — | — |
| 52 | DHR |
Danaher Corp Del | 0.4% | $25M | new | — | 1q | 32 · LOW | Healthcare | Health Care (Equal-Weight) | +2% |
| 53 |  TENX |
Tenax Therapeutics Inc | 0.4% | $25M | add | +17% | 3q | 42 · LOW | Healthcare | — | +10% |
| 54 |  SLS |
Sellas Life Sciences Group I | 0.3% | $22M | new | — | 1q | 22 · LOW | Healthcare | — | +9% |
| 55 |  NAUT |
Nautilus Biotechnology Inc | 0.3% | $22M | hold | -8% | — | 27 · LOW | Healthcare | — | — |
| 56 |  OBIO |
Orchestra Biomed Hldgs Inc | 0.3% | $22M | hold | +0% | — | 27 · LOW | Healthcare | — | +16% |
| 57 |  ISRG |
Intuitive Surgical Inc | 0.3% | $21M | trim | -39% | — | 26 · LOW | Healthcare | Robotics & Automation, Health Care (Equal-Weight) | -2% |
| 58 |  ANL |
Adlai Nortye Ltd | 0.3% | $21M | new | — | 1q | 21 · LOW | — | — | — |
| 59 |  CTNM |
Contineum Therapeutics Inc | 0.3% | $21M | hold | +0% | — | 26 · LOW | Healthcare | — | — |
| 60 |  NVCT |
Nuvectis Pharma Inc | 0.3% | $18M | new | — | 1q | 20 · LOW | Healthcare | — | +27% |
| 61 |  PALI |
Palisade Bio Inc | 0.3% | $18M | hold | -6% | — | 24 · LOW | Healthcare | — | -2% |
| 62 |  OMDA |
Omada Health Inc | 0.3% | $17M | hold | +0% | — | 24 · LOW | Healthcare | — | -8% |
| 63 |  LONA |
Leonabio Inc | 0.3% | $17M | hold | +0% | — | 24 · LOW | — | — | — |
| 64 |  EOLS |
Evolus Inc | 0.3% | $17M | add | +91% | 2q | 34 · LOW | Healthcare | — | — |
| 65 |  IVVD |
Invivyd Inc | 0.2% | $16M | trim | -11% | — | 23 · LOW | Healthcare | — | +12% |
| 66 |  MIRM |
Mirum Pharmaceuticals Inc | 0.2% | $14M | new | — | 1q | 28 · LOW | Healthcare | — | +1% |
| 67 |  SRZN |
Surrozen Inc | 0.2% | $13M | add | +120% | 2q | 32 · LOW | Healthcare | — | — |
| 68 |  BBNX |
Beta Bionics Inc | 0.2% | $13M | hold | -1% | — | 22 · LOW | Healthcare | — | -5% |
| 69 |  AXGN |
Axogen Inc | 0.2% | $11M | trim | -64% | — | 21 · LOW | Healthcare | — | -13% |
| 70 | OSCR |
Oscar Health Inc | 0.2% | $11M | new | — | 1q | 16 · LOW | Healthcare | Managed Care & Insurers | +9% |
| 71 |  SPTX |
Seaport Therapeutics Inc | 0.2% | $11M | new | — | 1q | 16 · LOW | — | — | — |
| 72 |  VRDN |
Viridian Therapeutics Inc | 0.2% | $11M | trim | -50% | — | 21 · LOW | Healthcare | — | -2% |
| 73 | BSX |
Boston Scientific Corp | 0.2% | $11M | new | — | 1q | 26 · LOW | Healthcare | Health Care (Equal-Weight) | -11% |
| 74 |  BLLN |
Billiontoone Inc | 0.2% | $10M | hold | -5% | — | 21 · LOW | — | — | +6% |
| 75 |  ABVX |
Abivax Sa | 0.1% | $10M | trim | -78% | — | 19 · LOW | Healthcare | — | -1% |
| 76 |  NTRA |
Natera Inc | 0.1% | $9M | new | — | 1q | 24 · LOW | Healthcare | Diagnostics | +4% |
| 77 |  ENGN |
Engene Therapeutics Inc | 0.1% | $8M | new | — | 1q | 14 · LOW | — | — | — |
| 78 |  AGMB |
Agomab Therapeutics Nv | 0.1% | $8M | hold | +0% | — | 18 · LOW | — | — | — |
| 79 |  CGEM |
Cullinan Therapeutics Inc | 0.1% | $8M | new | — | 1q | 23 · LOW | Healthcare | — | — |
| 80 |  MOBI |
Mobia Med Inc | 0.1% | $7M | new | — | 1q | 13 · LOW | — | — | -1% |
| 81 |  ADGM |
Adagio Med Hldgs Inc | 0.1% | $6M | add | +161% | 1q | 22 · LOW | — | — | -13% |
| 82 |  GH |
Guardant Health Inc | 0.1% | $6M | trim | -86% | — | 17 · LOW | Healthcare | Oncology, Diagnostics, Genomics | +5% |
| 83 |  PHAT |
Phathom Pharmaceuticals Inc | 0.1% | $6M | trim | -42% | — | 17 · LOW | Healthcare | — | — |
| 84 |  OTLK |
Outlook Therapeutics Inc | 0.1% | $5M | new | — | 1q | 11 · LOW | — | — | -3% |
| 85 |  COGT |
Cogent Biosciences Inc | 0.1% | $5M | hold | +0% | — | 16 · LOW | Healthcare | — | — |
| 86 |  EDSA |
Edesa Biotech Inc | 0.1% | $5M | hold | +0% | — | 16 · LOW | — | — | — |
| 87 |  AVTX |
Avalo Therapeutics Inc | 0.1% | $4M | add | +57% | 1q | 20 · LOW | Healthcare | — | -18% |
| 88 |  TWST |
Twist Bioscience Corp | 0.1% | $4M | trim | -76% | — | 15 · LOW | Healthcare | Genomics | +4% |
| 89 |  CBIO |
Crescent Biopharma Inc. | 0.1% | $4M | hold | +0% | — | 15 · LOW | Healthcare | — | — |
| 90 |  XERS |
Xeris Biopharma Holdings Inc | 0.1% | $4M | new | — | 1q | 10 · LOW | Healthcare | — | -11% |
| 91 |  OM |
Outset Med Inc | 0.1% | $4M | hold | +0% | — | 14 · LOW | — | — | -20% |
| 92 |  BDSX |
Biodesix Inc | 0.0% | $2M | new | — | 1q | 18 · LOW | — | — | +17% |
| 93 |  RVMDW |
Revolution Medicines Inc | 0.0% | $2M | hold | +0% | — | 14 · LOW | — | — | — |
| 94 |  CNTB |
Connect Biopharma Hldgs Ltd | 0.0% | $2M | hold | +0% | — | 13 · LOW | Healthcare | — | — |
| 95 |  KPRX |
Kiora Pharmaceuticals Inc | 0.0% | $1M | new | — | 1q | 7 · LOW | — | — | — |
| 96 |  MDLN |
Medline Inc | 0.0% | $1M | hold | +0% | — | 12 · LOW | Healthcare | — | +0% |
| 97 |  ADMA |
Adma Biologics Inc | 0.0% | $952213 | trim | -76% | — | 12 · LOW | Healthcare | — | -0% |
| 98 |  CPIX |
Cumberland Pharmaceuticals I | 0.0% | $628443 | trim | -51% | — | 12 · LOW | — | — | -16% |
| 99 |  XGN |
Exagen Inc | 0.0% | $534252 | hold | +0% | — | 12 · LOW | — | — | — |
| 100 |  ENSC |
Ensysce Biosciences Inc | 0.0% | $25133 | hold | +0% | — | 11 · LOW | — | — | +30% |
| 101 |  SRZNW |
Surrozen Inc | 0.0% | $2750 | 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本披露周期，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 (46)
| SYRE add |
5.8% | -15% |
| RLAY add |
4.0% | -8% |
| KARD new |
2.9% | +6% |
| ZYME add |
1.6% | +5% |
| TNGX add |
1.6% | -6% |
| NRIX add |
1.6% | -3% |
| BCRX add |
1.6% | -17% |
| RVMD add |
1.5% | -1% |
| AVLN new |
1.3% | — |
| BIIB new |
0.9% | +5% |
| UNH new |
0.7% | -2% |
| XBI new |
0.7% | +0% |
| IONS add |
0.7% | -1% |
| STRO add |
0.7% | — |
| CRVS add |
0.6% | -12% |
| SION add |
0.6% | +28% |
| XFOR add |
0.6% | — |
| CAPR new |
0.5% | +13% |
| CORT add |
0.5% | -3% |
| RAPP add |
0.5% | — |
| CRL new |
0.5% | -2% |
| EYPT new |
0.4% | -12% |
| DBVT add |
0.4% | -18% |
| IRTC add |
0.4% | +6% |
| ADPT add |
0.4% | -1% |
| DHR new |
0.4% | +2% |
| TENX add |
0.4% | +10% |
| SLS new |
0.3% | +9% |
| ANL new |
0.3% | — |
| NVCT new |
0.3% | +27% |
| EOLS add |
0.3% | — |
| MIRM new |
0.2% | +1% |
| SRZN add |
0.2% | — |
| OSCR new |
0.2% | +9% |
| SPTX new |
0.2% | — |
| BSX new |
0.2% | -11% |
| NTRA new |
0.1% | +4% |
| ENGN new |
0.1% | — |
| CGEM new |
0.1% | — |
| MOBI new |
0.1% | -1% |
| ADGM add |
0.1% | -13% |
| OTLK new |
0.1% | -3% |
| AVTX add |
0.1% | -18% |
| XERS new |
0.1% | -11% |
| BDSX new |
0.0% | +17% |
| KPRX new |
0.0% | — |
Rotated out of轮出 (24)
| APGE trim |
-15% | — |
| INBX trim |
-10% | +32% |
| PTGX trim |
-20% | -7% |
| DYN trim |
-42% | -29% |
| IMVT trim |
-15% | -10% |
| ANRO trim |
-20% | — |
| RGEN trim |
-12% | -1% |
| AXSM trim |
-21% | +3% |
| ISRG trim |
-39% | -2% |
| IVVD trim |
-11% | +12% |
| AXGN trim |
-64% | -13% |
| VRDN trim |
-50% | -2% |
| ABVX trim |
-78% | -1% |
| GH trim |
-86% | +5% |
| PHAT trim |
-42% | — |
| TWST trim |
-76% | +4% |
| ADMA trim |
-76% | -0% |
| CPIX trim |
-51% | -16% |
 BLTE exit |
-100% | +8% |
 IRD exit |
-100% | +28% |
 NBIX exit |
-100% | +1% |
 NMRA exit |
-100% | -17% |
 OCUL exit |
-100% | +8% |
 PTN exit |
-100% | +25% |
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，以披露日为锚，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, reported long positions from managers with at least $100M in Section 13(f) securities. 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——衡量披露日之后持仓的表现，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。