NEW YORK (TheStreet) -- When it comes to world's great investors, everyone has heard of Carl Icahn, George Soros and even David Einhorn. But do you know who is the best performing investor in the world today?

It's not Warren Buffett. It's not Bill Ackman. It's not Carl Icahn. It's not David Tepper.

It's Joseph Edelman, head of the biotech hedge fund Perceptive Advisors.

Perceptive Advisors has returned an incredible 42% annualized since 1999. That means $10,000 invested in this hedge fund at its inception would now be worth $1.3 million dollars. By comparison, for the same period, $10,000 invested in the S&P 500 would be worth just $16,270 today.

Moreover, when the stock market was down big in 2002 and 2011, Perceptive made money. How did the fund do it? By specializing in the event-driven world of biotech.

Perceptive's Edelman is one of the most seasoned biotech investors on the planet. He employs analysts, rich with life science background's, educated at some of the world's best schools. They spend millions of dollars on research, and they implement that research by taking big positions in small cap biotech stocks. And these investments tend to have the potential to produce multiples of what they pay for them.

Biotech stocks move on change, such as new clinical trial data, FDA approval's, etc. And Perceptive is essentially a biotech "think tank" - experts in anticipating that change, analyzing prospective drugs and their path to market.

Last year Perceptive returned 65%, doubling the S&P 500's return. They owned four stocks in their portfolio that went up more than 500%. That's right, a 5x return on four stocks, in one year.

We at believe that after the selloff in biotech stocks earlier this year, there is no better time to piggyback on one of Perceptive's favorite biotech stocks.

Here are Perceptive Advisor's top 5 stock holdings, according to the fund's Aug. 14 13F filing:

At the time of publication, the author held no positions in any of the stocks mentioned, although positions may change at any time.

This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.

TheStreet Ratings team rates CELGENE CORP as a Buy with a ratings score of A-. TheStreet Ratings Team has this to say about their recommendation:

"We rate CELGENE CORP (CELG) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its solid stock price performance, growth in earnings per share, robust revenue growth, notable return on equity and expanding profit margins. We feel these strengths outweigh the fact that the company shows weak operating cash flow."

You can view the full analysis from the report here: CELG Ratings Report