BAKER BROS. ADVISORS LP
Institutional investor · Portfolio as of Q1 2026
Top Holdings84 positions
 INCYTE CORP | 30.7M | $2.9B | 16.6% | $84.99 | +10.75% | 29 qtrssince 2019-Q1 | Increased 62 |
 BEONE MEDICINES LTD | 8.8M | $2.6B | 15.0% | $149.70 | +98.38% | 29 qtrssince 2019-Q1 | Unchanged 0 |
 INSMED INC | 7.4M | $1.2B | 7.0% | $85.98 | +90.19% | 29 qtrssince 2019-Q1 | Increased 70 |
 MADRIGAL PHARMACEUTICALS INC | 2.1M | $1.1B | 6.4% | $167.08 | +213.30% | 29 qtrssince 2019-Q1 | Unchanged 0 |
 ACADIA PHARMACEUTICALS INC | 42.9M | $954.9M | 5.5% | $27.48 | -19.01% | 29 qtrssince 2019-Q1 | Unchanged 0 |
 REVOLUTION MEDICINES INC | 9.6M | $929.3M | 5.3% | $30.86 | +215.15% | 21 qtrssince 2021-Q1 | Increased 62 |
 CELCUITY INC | 7.9M | $903.5M | 5.2% | $24.80 | +360.18% | 11 qtrssince 2023-Q3 | Unchanged 0 |
 KODIAK SCIENCES INC | 19.9M | $759.3M | 4.4% | $33.21 | +14.79% | 29 qtrssince 2019-Q1 | Unchanged 0 |
 KYMERA THERAPEUTICS INC | 8.7M | $721.1M | 4.1% | $40.89 | +103.67% | 23 qtrssince 2020-Q3 | Unchanged 0 |
 SUMMIT THERAPEUTICS INC | 36.4M | $690M | 4.0% | $12.42 | +52.65% | 8 qtrssince 2024-Q2 | Unchanged 0 |
 PRAXIS PRECISION MEDICINES I | 1.8M | $564.9M | 3.2% | $208.46 | +54.56% | 9 qtrssince 2024-Q1 | Increased 82 |
 RHYTHM PHARMACEUTICALS INC | 5.6M | $487.4M | 2.8% | $24.17 | +259.89% | 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% | $41.82 | +23.57% | 6 qtrssince 2024-Q4 | Increased 76 |
 EDGEWISE THERAPEUTICS INC | 6.6M | $207.1M | 1.2% | $15.77 | +99.73% | 21 qtrssince 2021-Q1 | Unchanged 0 |
 IONIS PHARMACEUTICALS INC | 2M | $153.8M | 0.9% | $74.82 | +0.36% | 3 qtrssince 2025-Q3 | Increased 49 |
 KINIKSA PHARMACEUTICALS INTL | 2.8M | $136.1M | 0.8% | $18.70 | +157.45% | 8 qtrssince 2024-Q2 | Unchanged 0 |
 IMMUNOVANT INC | 5.5M | $135.6M | 0.8% | $21.09 | +17.80% | 11 qtrssince 2023-Q3 | Unchanged 0 |
 ROIVANT SCIENCES LTD | 4.9M | $134.8M | 0.8% | $13.76 | +101.29% | 14 qtrssince 2022-Q4 | Decreased 0 |
 IDEAYA BIOSCIENCES INC | 3.9M | $131.5M | 0.8% | $23.89 | +39.46% | 15 qtrssince 2022-Q3 | Increased 46 |
| Quarter | Reported value in US dollars | Reported value change |
|---|---|---|
| 2024-Q4 | $9,361,492,374 | -2.97722464425% |
| 2025-Q1 | $9,036,702,464 | -3.46942450012% |
| 2025-Q2 | $10,307,840,459 | 14.0663920281% |
| 2025-Q3 | $13,838,782,047 | 34.2549111237% |
| 2025-Q4 | $17,078,624,105 | 23.4113236772% |
| 2026-Q1 | $17,415,689,929 | 1.97361228825% |
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: Concentrated Value. HoldingsIntel Score: 3.5/5.0.
Added MIRM, EVMN, AKTS and 4 more; exited RARE, TERN, BCRX and 6 more; increased 18, led by PRAX (+626,710 shares); trimmed 6, led by IMCR (−1.6M shares). Top move: PRAX (INCREASED, conviction 82). Portfolio: $17.4B across 84 positions.
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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
Verify source filings on SEC EDGAR