Baker Bros. Advisors LP 13F holdings
Baker Bros. Advisors LP reported 83 positions with a total reported value of $19.9B as of 2026-06-30, in its 13F for Q2 2026, filed 2026-08-14. Top holdings by reported value: INCY Incyte Corporation (17.5%), ONC BeOne Medicines Ltd. (12.6%), RVMD Revolution Medicines, Inc. (10.8%), MDGL Madrigal Pharmaceuticals, Inc. (5.8%), ACAD ACADIA Pharmaceuticals Inc. (5.5%). Against 2026-03-31 it opened 8 new positions and exited 8. Next 13F due by 2026-11-14, the legal deadline 45 days after the quarter ending 2026-09-30.
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Top holdings
25 largest of 83 positions · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| INCY Incyte Corporation | 30,762,330 | $3.5B | 17.5% |
| ONC BeOne Medicines Ltd. | 8,801,567 | $2.5B | 12.6% |
| RVMD Revolution Medicines, Inc. | 11,443,357 | $2.1B | 10.8% |
| MDGL Madrigal Pharmaceuticals, Inc. | 2,143,131 | $1.2B | 5.8% |
| ACAD ACADIA Pharmaceuticals Inc. | 42,912,904 | $1.1B | 5.5% |
| KYMR Kymera Therapeutics, Inc. | 8,657,242 | $992.7M | 5.0% |
| INSM Insmed Incorporated | 8,796,111 | $937.8M | 4.7% |
| CELC Celcuity Inc. | 7,915,792 | $828.2M | 4.2% |
| KOD Kodiak Sciences Inc. | 19,919,186 | $776.1M | 3.9% |
| RYTM Rhythm Pharmaceuticals, Inc. | 5,604,483 | $622.3M | 3.1% |
| PRAX Praxis Precision Medicines, Inc. | 1,753,198 | $587.0M | 3.0% |
| ALKS Alkermes plc | 10,012,267 | $524.6M | 2.6% |
| SMMT Summit Therapeutics Inc. | 32,786,348 | $477.7M | 2.4% |
| GRAL GRAIL, Inc. | 4,028,614 | $275.0M | 1.4% |
| ABCL AbCellera Biologics Inc. | 33,012,138 | $259.1M | 1.3% |
| IMVT Immunovant, Inc. | 5,435,220 | $209.4M | 1.1% |
| IDYA IDEAYA Biosciences, Inc. | 5,010,030 | $186.7M | 0.9% |
| KNSA Kiniksa Pharmaceuticals International, plc | 2,834,643 | $181.3M | 0.9% |
| ROIV Roivant Sciences Ltd. | 4,716,831 | $166.9M | 0.8% |
| ARWR Arrowhead Pharmaceuticals, Inc. | 1,992,783 | $162.4M | 0.8% |
| IONS Ionis Pharmaceuticals, Inc. | 2,047,727 | $162.4M | 0.8% |
| EWTX Edgewise Therapeutics, Inc. | 3,701,719 | $150.4M | 0.8% |
| REPL Replimune Group, Inc. | 11,045,336 | $122.3M | 0.6% |
| NRIX Nurix Therapeutics, Inc. | 4,658,556 | $113.0M | 0.6% |
| STOK Stoke Therapeutics, Inc. | 3,336,697 | $109.2M | 0.5% |
SEC FORM 13F · Q2 2026 · VALUES AS REPORTED, NOT PRICES
New positions this quarter
Held at 2026-06-30, not at 2026-03-31 · 8 in all · reported value as of 2026-06-30
| Holding | Shares | Reported value | % of portfolio |
|---|---|---|---|
| FTH Faeth Therapeutics, Inc. | 1,286,411 | $32.2M | 0.2% |
| CYTK Cytokinetics, Incorporated | 211,267 | $18.0M | <0.1% |
| NTLA Intellia Therapeutics, Inc. | 930,232 | $15.7M | <0.1% |
| PBLS Parabilis Medicines, Inc. | 500,000 | $13.7M | <0.1% |
| AVLN Avalyn Pharma Inc. | 350,000 | $11.5M | <0.1% |
| TNGX Tango Therapeutics, Inc. | 333,333 | $10.4M | <0.1% |
| AVTX Avalo Therapeutics, Inc. | 550,000 | $10.2M | <0.1% |
| IMNM Immunome, Inc. | 55,306 | $1.2M | <0.1% |
Sold out
Held at 2026-03-31, gone by 2026-06-30 · 8 in all · reported value as of 2026-03-31
| Holding | Shares 2026-03-31 | Reported value | % of portfolio then |
|---|---|---|---|
| ABVX Abivax S.A. | 875,796 | $97.5M | 0.6% |
| SYRE Spyre Therapeutics, Inc. | 1,000,000 | $50.4M | 0.3% |
| Centessa Pharmaceuticals plc | 670,751 | $26.6M | 0.2% |
| IMCR Immunocore Holdings plc | 734,397 | $22.1M | 0.1% |
| CTNM Contineum Therapeutics, Inc. | 1,420,838 | $18.6M | 0.1% |
| ARGX argenx SE | 25,174 | $18.4M | 0.1% |
| CMPS COMPASS Pathways plc | 2,344,720 | $13.0M | <0.1% |
| PHVS Pharvaris N.V. | 375,000 | $10.6M | <0.1% |
Biggest increases and decreases
Positions held at both quarter ends, by change in shares · reported value as of 2026-06-30
Increases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| RVMD Revolution Medicines, Inc. | 9,555,357 | 11,443,357 | +19.8% | $2.1B |
| INSM Insmed Incorporated | 7,421,111 | 8,796,111 | +18.5% | $937.8M |
| IDYA IDEAYA Biosciences, Inc. | 3,946,515 | 5,010,030 | +26.9% | $186.7M |
| RLAY Relay Therapeutics, Inc. | 1,160,117 | 2,826,783 | +143.7% | $52.9M |
| ABCL AbCellera Biologics Inc. | 30,275,938 | 33,012,138 | +9.0% | $259.1M |
| CLDX Celldex Therapeutics, Inc. | 665,370 | 1,182,611 | +77.7% | $44.0M |
| RCUS Arcus Biosciences, Inc. | 415,621 | 844,816 | +103.3% | $26.0M |
| Viridian Therapeutics, Inc. | 1,971,678 | 2,383,025 | +20.9% | $43.8M |
| VSTM Verastem, Inc. | 584,757 | 2,499,338 | +327.4% | $9.5M |
| INCY Incyte Corporation | 30,744,412 | 30,762,330 | +0.1% | $3.5B |
| DSGN Design Therapeutics, Inc. | 2,585,978 | 2,678,430 | +3.6% | $38.8M |
| MDGL Madrigal Pharmaceuticals, Inc. | 2,141,701 | 2,143,131 | +0.1% | $1.2B |
Decreases
| Holding | Shares 2026-03-31 | Shares 2026-06-30 | Change | Reported value |
|---|---|---|---|---|
| CELC Celcuity Inc. | 38,665,792 | 7,915,792 | -79.5% | $828.2M |
| EWTX Edgewise Therapeutics, Inc. | 6,575,940 | 3,701,719 | -43.7% | $150.4M |
| SMMT Summit Therapeutics Inc. | 36,391,063 | 32,786,348 | -9.9% | $477.7M |
| IMTX Immatics N.V. | 10,916,693 | 9,508,565 | -12.9% | $96.3M |
| CERS Cerus Corporation | 10,008,345 | 6,395,431 | -36.1% | $18.7M |
| JBIO Jade Biosciences, Inc. | 1,641,137 | 1,230,426 | -25.0% | $27.3M |
| ROIV Roivant Sciences Ltd. | 4,867,723 | 4,716,831 | -3.1% | $166.9M |
| IMVT Immunovant, Inc. | 5,457,881 | 5,435,220 | -0.4% | $209.4M |
CIK 1263508 · 13F FILINGS ON EDGAR · INFORMATIONAL ONLY
More 13F data
Source: U.S. Securities and Exchange Commission (EDGAR) and other official
government data · Updated 2026-10-12 ·
For informational purposes only, not investment advice.
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