BAKER BROS. ADVISORS LP
Institutional investor · Portfolio as of Q1 2026
Top Holdings84 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
INCYTE CORP | 30.7M | $2.9B | 16.6% | $85.03 | +15.33% | 29 qtrssince 2019-Q1 | Increased 62 |
BEIGENE LTD-ADR | 8.8M | $2.6B | 15.0% | $149.13 | +99.19% | 29 qtrssince 2019-Q1 | Unchanged 0 |
INSMED INC | 7.4M | $1.2B | 7.0% | $83.82 | +75.37% | 29 qtrssince 2019-Q1 | Increased 70 |
MADRIGAL PHARMACEUTICALS INC | 2.1M | $1.1B | 6.4% | $166.39 | +155.93% | 29 qtrssince 2019-Q1 | Unchanged 0 |
ACADIA Pharmaceuticals Inc. | 42.9M | $954.9M | 5.5% | $27.49 | -18.16% | 29 qtrssince 2019-Q1 | Unchanged 0 |
REVOLUTION MEDICINES INC | 9.6M | $929.3M | 5.3% | $30.79 | +226.42% | 21 qtrssince 2021-Q1 | Increased 62 |
CELCUITY INC | 7.9M | $903.5M | 5.2% | $25.54 | +320.47% | 11 qtrssince 2023-Q3 | Unchanged 0 |
Kodiak Sciences, Inc. | 19.9M | $759.3M | 4.4% | $33.79 | -21.76% | 29 qtrssince 2019-Q1 | Unchanged 0 |
KYMERA THERAPEUTICS INC | 8.7M | $721.1M | 4.1% | $40.75 | +111.92% | 23 qtrssince 2020-Q3 | Unchanged 0 |
SUMMIT THERAPEUTICS INC | 36.4M | $690M | 4.0% | $12.21 | +23.72% | 8 qtrssince 2024-Q2 | Unchanged 0 |
PRAXIS PRECISION MEDICINES I | 1.8M | $564.9M | 3.2% | $205.88 | +54.56% | 14 qtrssince 2022-Q4 | Increased 82 |
RHYTHM PHARMACEUTICALS INC | 5.6M | $487.4M | 2.8% | $23.84 | +275.65% | 29 qtrssince 2019-Q1 | Unchanged 0 |
ALKERMES PLC | 10M | $354M | 2.0% | $26.97 | +31.10% | 8 qtrssince 2024-Q2 | Unchanged 0 |
GRAIL INC | 4M | $208.2M | 1.2% | $42.63 | +23.76% | 6 qtrssince 2024-Q4 | Increased 76 |
EDGEWISE THERAPEUTICS INC | 6.6M | $207.1M | 1.2% | $15.71 | +83.40% | 21 qtrssince 2021-Q1 | Unchanged 0 |
IONIS PHARMACEUTICALS INC | 2M | $153.8M | 0.9% | $74.83 | +5.12% | 3 qtrssince 2025-Q3 | Increased 49 |
KINIKSA PHARMACEUTICALS INTL | 2.8M | $136.1M | 0.8% | $18.70 | +142.58% | 8 qtrssince 2024-Q2 | Unchanged 0 |
IMMUNOVANT INC | 5.5M | $135.6M | 0.8% | $21.82 | +22.41% | 11 qtrssince 2023-Q3 | Unchanged 0 |
ROIVANT SCIENCES LTD | 4.9M | $134.8M | 0.8% | $13.62 | +104.46% | 14 qtrssince 2022-Q4 | Decreased 0 |
IDEAYA BIOSCIENCES INC | 3.9M | $131.5M | 0.8% | $23.87 | +43.74% | 15 qtrssince 2022-Q3 | Increased 46 |
BAKER BROS. ADVISORS LP manages $17.4B across 84 positions as of Q1 2026. Top holdings: INCY (16.6%), ONC (15.0%), INSM (7.0%). Fund DNA: Balanced Allocator. HoldingsIntel Rating: 3.5/5.0.
Active quarter - 7 new positions, 9 exits, 18 increased. Top move: PRAX (INCREASED, conviction 82). Portfolio: $17.4B across 84 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
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Cost basis estimates based on full filing history using quarter-end prices. Actual transaction prices are not disclosed in 13F filings.
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Data sourced from SEC EDGAR 13F filings. Not financial advice. Full disclaimer