BAKER BROS. ADVISORS LP
Institutional investor · Portfolio as of Q3 2025
Top Holdings91 positions
Stock | Shares | Value | Weight | Avg Buy | Est. P&L | Held | Conviction |
|---|---|---|---|---|---|---|---|
BEIGENE LTD-ADR | 8.8M | $3B | 21.7% | $149.13 | +123.18% | 27 qtrssince 2019-Q1 | Unchanged 0 |
INCYTE CORP | 30.7M | $2.6B | 18.8% | $85.03 | -1.34% | 27 qtrssince 2019-Q1 | Increased 62 |
MADRIGAL PHARMACEUTICALS INC | 2.1M | $982.3M | 7.1% | $166.39 | +166.29% | 27 qtrssince 2019-Q1 | Increased 67 |
INSMED INC | 6.7M | $965.4M | 7.0% | $75.89 | +86.66% | 27 qtrssince 2019-Q1 | Decreased 0 |
ACADIA Pharmaceuticals Inc. | 42.9M | $915.4M | 6.6% | $27.49 | -22.45% | 27 qtrssince 2019-Q1 | Unchanged 0 |
SUMMIT THERAPEUTICS INC | 33.7M | $696.7M | 5.0% | $11.80 | +79.38% | 6 qtrssince 2024-Q2 | Unchanged 0 |
RHYTHM PHARMACEUTICALS INC | 5.6M | $566M | 4.1% | $23.84 | +322.12% | 27 qtrssince 2019-Q1 | Unchanged 0 |
REVOLUTION MEDICINES INC | 9.5M | $441.6M | 3.2% | $30.05 | +53.32% | 19 qtrssince 2021-Q1 | Increased 58 |
CELCUITY INC | 7.9M | $391M | 2.8% | $25.54 | +103.85% | 9 qtrssince 2023-Q3 | Increased 72 |
KYMERA THERAPEUTICS INC | 6.7M | $376.5M | 2.7% | $29.48 | +98.47% | 21 qtrssince 2020-Q3 | Unchanged 0 |
Kodiak Sciences, Inc. | 17.3M | $283.4M | 2.0% | $34.68 | -54.41% | 27 qtrssince 2019-Q1 | Unchanged 0 |
ALKERMES PLC | 8.1M | $242.7M | 1.8% | $26.73 | +12.22% | 6 qtrssince 2024-Q2 | Increased 60 |
ABCELLERA BIOLOGICS INC | 27.5M | $138.5M | 1.0% | $18.96 | -74.32% | 20 qtrssince 2020-Q4 | Unchanged 0 |
EDGEWISE THERAPEUTICS INC | 7.3M | $118.5M | 0.9% | $15.71 | +0.26% | 19 qtrssince 2021-Q1 | Unchanged 0 |
KINIKSA PHARMACEUTICALS INTL | 2.8M | $109.7M | 0.8% | $18.69 | +107.43% | 6 qtrssince 2024-Q2 | Unchanged 0 |
STOKE THERAPEUTICS INC | 4.6M | $108.9M | 0.8% | $11.06 | +123.62% | 13 qtrssince 2022-Q3 | Unchanged 0 |
IMMATICS N.V | 12.1M | $103M | 0.7% | $8.87 | -10.80% | 21 qtrssince 2020-Q3 | Increased 50 |
GRAIL INC | 1.6M | $96.4M | 0.7% | $18.64 | +215.29% | 4 qtrssince 2024-Q4 | Unchanged 0 |
IDEAYA BIOSCIENCES INC | 3.3M | $89.1M | 0.6% | $21.71 | +25.24% | 13 qtrssince 2022-Q3 | Increased 59 |
IMMUNOVANT INC | 5.5M | $88M | 0.6% | $21.82 | -26.40% | 9 qtrssince 2023-Q3 | Unchanged 0 |
BAKER BROS. ADVISORS LP manages $13.8B across 91 positions as of Q3 2025. Top holdings: ONC (21.7%), INCY (18.8%), MDGL (7.1%). Fund DNA: Balanced Allocator. HoldingsIntel Rating: 3.5/5.0.
Active quarter - 11 new positions, 9 exits, 14 increased. Top move: CELC (INCREASED, conviction 72). Portfolio: $13.8B across 91 positions.
Top holdings by portfolio weight
Portfolio allocation by GICS sector
Behavioral investing profile
Position Outcomes
Best and worst performing positions by estimated return
Top Winners
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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