BAKER BROS. ADVISORS LP — 13F Holdings & Portfolio
CIK 1263508 · latest 13F-HR filed 2026-08-14
BAKER BROS. ADVISORS LP manages $19.96B in 13F-reported U.S. long-equity assets across 84 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are INCY (17.48%), ONC (12.57%), RVMD (10.74%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 8 new positions and exited 8; 48 existing positions rose in reported value and 17 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Long-equity book
Distinct positions
Filed 2026-08-14
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
| Name | Title / Status | Ownership | Type |
|---|
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- Revolution Medicines, Inc.$1.21B +130.6%
- Incyte Corporation$593.6M +20.5%
- Kymera Therapeutics, Inc.$271.7M +37.7%
- Alkermes plc$170.6M +48.2%
- AbCellera Biologics Inc.$153.5M +145.3%
Top Trims
- Insmed Incorporated-$275.7M -22.7%
- Summit Therapeutics Inc.-$212.3M -30.8%
- Celcuity Inc.-$75.4M -8.3%
- Edgewise Therapeutics, Inc.-$56.7M -27.4%
- Entrada Therapeutics, Inc.-$26.7M -41.7%
New Positions
- Faeth Therapeutics, Inc.$32.2M
- Cytokinetics, Incorporated$18.0M
- Intellia Therapeutics, Inc.$15.7M
- Parabilis Medicines, Inc.$13.7M
- Avalyn Pharma Inc.$11.5M
Exited Positions
- Abivax S.A.$97.5M
- Spyre Therapeutics, Inc.$50.4M
- Centessa Pharmaceuticals plc$26.6M
- Immunocore Holdings plc$22.1M
- Contineum Therapeutics, Inc.$18.6M
BAKER BROS. ADVISORS LP Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | Incyte Corporation | INCY | 45337C102 | $3.49B | 17.48% | 30,762,330 | SH |
| 2 | BeOne Medicines Ltd. | ONC | 07725L102 | $2.51B | 12.57% | 8,801,567 | SH |
| 3 | Revolution Medicines, Inc. | RVMD | 76155X100 | $2.14B | 10.74% | 11,443,357 | SH |
| 4 | Madrigal Pharmaceuticals, Inc. | MDGL | 558868105 | $1.15B | 5.77% | 2,143,131 | SH |
| 5 | ACADIA Pharmaceuticals Inc. | ACAD | 004225108 | $1.09B | 5.44% | 42,912,904 | SH |
| 6 | Kymera Therapeutics, Inc. | KYMR | 501575104 | $992.7M | 4.97% | 8,657,242 | SH |
| 7 | Insmed Incorporated | INSM | 457669307 | $937.8M | 4.70% | 8,796,111 | SH |
| 8 | Celcuity Inc. | CELC | 15102K100 | $828.2M | 4.15% | 7,915,792 | SH |
| 9 | Kodiak Sciences Inc. | KOD | 50015M109 | $776.1M | 3.89% | 19,919,186 | SH |
| 10 | Rhythm Pharmaceuticals, Inc. | RYTM | 76243J105 | $622.3M | 3.12% | 5,604,483 | SH |
| 11 | Praxis Precision Medicines, Inc. | PRAX | 74006W207 | $587.0M | 2.94% | 1,753,198 | SH |
| 12 | Alkermes plc | ALKS | G01767105 | $524.6M | 2.63% | 10,012,267 | SH |
| 13 | Summit Therapeutics Inc. | SMMT | 86627T108 | $477.7M | 2.39% | 32,786,348 | SH |
| 14 | GRAIL, Inc. | GRAL | 384747101 | $275.0M | 1.38% | 4,028,614 | SH |
| 15 | AbCellera Biologics Inc. | ABCL | 00288U106 | $259.1M | 1.30% | 33,012,138 | SH |
| 16 | Immunovant, Inc. | IMVT | 45258J102 | $209.4M | 1.05% | 5,435,220 | SH |
| 17 | IDEAYA Biosciences, Inc. | IDYA | 45166A102 | $186.7M | 0.94% | 5,010,030 | SH |
| 18 | Kiniksa Pharmaceuticals International, plc | KNSA | G52694109 | $181.3M | 0.91% | 2,834,643 | SH |
| 19 | Roivant Sciences Ltd. | ROIV | G76279101 | $166.9M | 0.84% | 4,716,831 | SH |
| 20 | Arrowhead Pharmaceuticals, Inc. | ARWR | 04280A100 | $162.4M | 0.81% | 1,992,783 | SH |
| 21 | Ionis Pharmaceuticals, Inc. | IONS | 462222100 | $162.4M | 0.81% | 2,047,727 | SH |
| 22 | Edgewise Therapeutics, Inc. | EWTX | 28036F105 | $150.4M | 0.75% | 3,701,719 | SH |
| 23 | Replimune Group, Inc. | REPL | 76029N106 | $122.3M | 0.61% | 11,045,336 | SH |
| 24 | Nurix Therapeutics, Inc. | NRIX | 67080M103 | $113.0M | 0.57% | 4,658,556 | SH |
| 25 | Stoke Therapeutics, Inc. | STOK | 86150R107 | $109.2M | 0.55% | 3,336,697 | SH |
| 26 | Monte Rosa Therapeutics, Inc. | GLUE | 61225M102 | $105.2M | 0.53% | 4,345,736 | SH |
| 27 | Immatics N.V. | IMTX | N44445109 | $96.3M | 0.48% | 9,508,565 | SH |
| 28 | Denali Therapeutics Inc. | DNLI | 24823R105 | $96.0M | 0.48% | 3,734,336 | SH |
| 29 | Crinetics Pharmaceuticals, Inc. | CRNX | 22663K107 | $88.0M | 0.44% | 2,351,465 | SH |
| 30 | Dianthus Therapeutics, Inc. | DNTH | 252828108 | $83.1M | 0.42% | 852,164 | SH |
| 31 | Structure Therapeutics Inc. | GPCR | 86366E106 | $76.9M | 0.39% | 1,432,529 | SH |
| 32 | Celcuity Inc. | CELC | 15102KAA8 | $69.2M | 0.35% | 30,750,000 | PRN |
| 33 | Rapport Therapeutics, Inc. | RAPP | 75383L102 | $64.5M | 0.32% | 1,547,090 | SH |
| 34 | Alumis Inc. | ALMS | 022307102 | $56.6M | 0.28% | 2,012,500 | SH |
| 35 | Prelude Therapeutics Inc. | PRLD | 74065P101 | $54.0M | 0.27% | 10,123,824 | SH |
| 36 | Relay Therapeutics, Inc. | RLAY | 75943R102 | $52.9M | 0.27% | 2,826,783 | SH |
| 37 | Mirum Pharmaceuticals, Inc. | MIRM | 604749101 | $52.2M | 0.26% | 445,975 | SH |
| 38 | Bicycle Therapeutics plc | BCYC | 088786108 | $46.2M | 0.23% | 10,885,357 | SH |
| 39 | Enliven Therapeutics, Inc. | ELVN | 29337E102 | $45.9M | 0.23% | 905,191 | SH |
| 40 | Celldex Therapeutics, Inc. | CLDX | 15117B202 | $44.0M | 0.22% | 1,182,611 | SH |
| 41 | Viridian Therapeutics, Inc. | VRDN | 92790C104 | $43.8M | 0.22% | 2,383,025 | SH |
| 42 | Design Therapeutics, Inc. | DSGN | 25056L103 | $38.8M | 0.19% | 2,678,430 | SH |
| 43 | Entrada Therapeutics, Inc. | TRDA | 29384C108 | $37.3M | 0.19% | 5,072,730 | SH |
| 44 | Faeth Therapeutics, Inc. | FTH | 81728A207 | $32.2M | 0.16% | 1,286,411 | SH |
| 45 | Aktis Oncology, Inc. | AKTS | 01021M104 | $32.1M | 0.16% | 996,351 | SH |
| 46 | Neurogene Inc. | NGNE | 64135M105 | $31.2M | 0.16% | 991,691 | SH |
| 47 | Jade Biosciences, Inc. | JBIO | 008064206 | $27.3M | 0.14% | 1,230,426 | SH |
| 48 | Taysha Gene Therapies, Inc. | TSHA | 877619106 | $27.3M | 0.14% | 4,004,756 | SH |
| 49 | Arcus Biosciences, Inc. | RCUS | 03969F109 | $26.0M | 0.13% | 844,816 | SH |
| 50 | Disc Medicine, Inc. | IRON | 254604101 | $25.6M | 0.13% | 349,657 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-14 | $19.96B | 84 | 0001104659-26-097191 |
| 2026-03-31 | 2026-05-15 | $17.42B | 84 | 0001104659-26-062547 |
| 2025-12-31 | 2026-02-17 | $17.08B | 86 | 0001104659-26-016374 |
| 2025-09-30 | 2025-11-14 | $13.84B | 91 | 0001104659-25-112595 |
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