BAKER BROS. ADVISORS LP
CIK: 0001263508Latest portfolio: $17.1B · Q4 2025
Holdings
86
Total Value
$17.1B
New Positions
9
Closed Positions
14
Top Holdings
View All 86 Holdings →| # | Stock | Shares | Value | % Portfolio | Change | Type |
|---|---|---|---|---|---|---|
| 1 | INCYIncyte Corporation | 30,743,991 | $3.0B | 17.78% | +328 | |
| 2 | ONCBeOne Medicines Ltd. | 8,799,053 | $2.7B | 15.65% | — | |
| 3 | MDGLMadrigal Pharmaceuticals, Inc. | 2,141,701 | $1.2B | 7.30% | — | |
| 4 | IM8NInsmed Incorporated | 6,592,746 | $1.1B | 6.72% | -110,738 | |
| 5 | ACADACADIA Pharmaceuticals Inc. | 42,896,690 | $1.1B | 6.71% | — | |
| 6 | CELCCelcuity Inc. | 7,915,792 | $789.5M | 4.62% | — | |
| 7 | RVMDRevolution Medicines, Inc. | 9,455,357 | $753.1M | 4.41% | — | |
| 8 | KYMRKymera Therapeutics, Inc. | 8,657,242 | $673.6M | 3.94% | +2.0M | |
| 9 | SMMTSummit Therapeutics Inc. | 36,391,063 | $636.5M | 3.73% | +2.7M | |
| 10 | RYTMRhythm Pharmaceuticals, Inc. | 5,604,483 | $599.9M | 3.51% | — | |
| 11 | KODKodiak Sciences Inc. | 19,919,186 | $556.9M | 3.26% | +2.6M | |
| 12 | PRAXPraxis Precision Medicines, Inc. | 1,126,488 | $332.0M | 1.94% | +437K | |
| 13 | ALKSAlkermes plc | 10,012,267 | $280.1M | 1.64% | +1.9M | |
| 14 | GRALGRAIL, Inc. | 2,085,333 | $178.5M | 1.05% | +455K | |
| 15 | EWTXEdgewise Therapeutics, Inc. | 6,575,940 | $163.2M | 0.96% | -730,000 | |
| 16 | ARWRArrowhead Pharmaceuticals, Inc. | 2,175,645 | $144.4M | 0.85% | +505K | |
| 17 | ISIIonis Pharmaceuticals, Inc. | 1,791,841 | $141.8M | 0.83% | +1.2M | |
| 18 | IMVTImmunovant, Inc. | 5,457,881 | $138.7M | 0.81% | — | |
| 19 | IMTXImmatics N.V. | 12,094,094 | $127.0M | 0.74% | — | |
| 20 | IDYAIDEAYA Biosciences, Inc. | 3,618,826 | $125.1M | 0.73% | +343K | |
| 21 | ROIVRoivant Sciences Ltd. | 5,555,017 | $120.5M | 0.71% | +1.8M | |
| 22 | ABVXAbivax S.A. | 875,796 | $118.1M | 0.69% | — | |
| 23 | KNSAKiniksa Pharmaceuticals International, plc | 2,826,246 | $116.6M | 0.68% | +2K | |
| 24 | REPLReplimune Group, Inc. | 11,045,336 | $107.4M | 0.63% | — | |
| 25 | STOKStoke Therapeutics, Inc. | 3,336,697 | $105.9M | 0.62% | -1,297,141 |
Quarterly Changes
New Positions
Increased Positions
Sector Breakdown
HealthcareNaN% ($InfinityT)
Unknown0.0% ($11474011417526.7T)
Filing History
| Quarter | Filing Date | Portfolio Value | Holdings |
|---|---|---|---|
| Q4 2025 | Feb 17, 2026 | $17.1B | 86 |
| Q3 2025 | Nov 14, 2025 | $13.8T | 91 |
| Q2 2025 | Aug 14, 2025 | $10.3T | 89 |
| Q1 2025 | May 15, 2025 | $9.0T | 89 |
| Q4 2024 | Feb 14, 2025 | $9.4T | 95 |
| Q3 2024 | Nov 14, 2024 | $9648.8T | 93 |
| Q2 2024 | Aug 14, 2024 | $7825.1T | 95 |
| Q1 2024 | May 15, 2024 | $7971.7T | 87 |
| Q4 2023 | Feb 14, 2024 | $8788.6T | 84 |
| Q3 2023 | Nov 14, 2023 | $17351.0T | 101 |
| Q2 2023 | Aug 14, 2023 | $17279.2T | 107 |
| Q1 2023 | May 15, 2023 | $18379.7T | 105 |
| Q4 2022 | Feb 14, 2023 | $16651.4T | 113 |
| Q3 2022 | Nov 14, 2022 | $15.3T | 115 |
| Q2 2022 | Aug 15, 2022 | $17.6T | 117 |
| Q1 2022 | May 16, 2022 | $17.4T | 118 |
| Q4 2021 | Feb 14, 2022 | $20.6T | 121 |
| Q3 2021 | Nov 15, 2021 | $22.8T | 122 |
| Q2 2021 | Aug 16, 2021 | $22.8T | 120 |
| Q1 2021 | May 17, 2021 | $23.1T | 126 |
| Q4 2020 | Feb 16, 2021 | $26.5T | 126 |
| Q3 2020 | Nov 16, 2020 | $25.0T | 120 |
| Q2 2020 | Aug 14, 2020 | $22.7T | 114 |
| Q1 2020 | May 15, 2020 | $16.2T | 110 |
| Q4 2019 | Feb 14, 2020 | $18.8T | 99 |
| Q3 2019 | Nov 14, 2019 | $14.7T | 109 |
| Q2 2019 | Aug 14, 2019 | $14.7T | 103 |
| Q1 2019 | May 15, 2019 | $15.6T | 96 |
| Q4 2018 | Feb 13, 2019 | $12.2T | 93 |
| Q3 2018 | Nov 14, 2018 | $15.2T | 97 |
| Q2 2018 | Aug 14, 2018 | $13.3T | 119 |
| Q1 2018 | May 15, 2018 | $11.8T | 114 |
| Q4 2017 | Feb 14, 2018 | $11.5T | 123 |
| Q3 2017 | Nov 14, 2017 | $12.3T | 121 |
| Q2 2017 | Aug 14, 2017 | $11.4T | 120 |
| Q1 2017 | May 15, 2017 | $12.2T | 119 |
| Q4 2016 | Feb 14, 2017 | $10.2T | 133 |
| Q3 2016 | Nov 14, 2016 | $11.0T | 134 |
| Q2 2016 | Aug 15, 2016 | $9.5T | 135 |
| Q1 2016 | May 16, 2016 | $9.5T | 134 |
Fund Information
BAKER BROS. ADVISORS LP is an institutional investment manager that files 13F reports with the SEC. As of the Q4 2025 filing, the fund reported a portfolio valued at $17.1B across 86 holdings. The largest position is Incyte Corporation (INCY), representing 17.8% of the portfolio. Compared to the previous quarter, the fund opened 9 new positions and closed 14 positions. 13F filings are required quarterly disclosures that provide transparency into the holdings of institutional investment managers with at least $100 million in qualifying assets.