Fund · 13F archive
Baker Bros. Advisors LP — 2025 Q4 holdings
Period end
Filed
Portfolio value
$17.08B
Positions
86
We track
1
| # | Company | Class | Value | Shares | % Port. | vs prior |
|---|---|---|---|---|---|---|
| 1 | Incyte Corporation | COM | $3.04B | 30.7M | 17.8% | ADD |
| 2 | Beone Medicines LTD. | SPONSORED ADS | $2.67B | 8.8M | 15.7% | HOLD |
| 3 | Madrigal Pharmaceuticals, INC. | COM | $1.25B | 2.1M | 7.3% | HOLD |
| 4 | Insmed Incorporated | COM PAR $.01 | $1.15B | 6.6M | 6.7% | TRIM |
| 5 | Acadia Pharmaceuticals INC. | COM | $1.15B | 42.9M | 6.7% | HOLD |
| 6 | Celcuity INC. | COM | $789.5M | 7.9M | 4.6% | HOLD |
| 7 | Revolution Medicines, INC. | COM | $753.1M | 9.5M | 4.4% | HOLD |
| 8 | Kymera Therapeutics, INC. | COM | $673.6M | 8.7M | 3.9% | ADD |
| 9 | Summit Therapeutics INC. | COM | $636.5M | 36.4M | 3.7% | ADD |
| 10 | Rhythm Pharmaceuticals, INC. | COM | $599.9M | 5.6M | 3.5% | HOLD |
| 11 | Kodiak Sciences INC. | COM | $556.9M | 19.9M | 3.3% | ADD |
| 12 | Praxis Precision Medicines, INC. | COM | $332.0M | 1.1M | 1.9% | ADD |
| 13 | Alkermes Plc | SHS | $280.1M | 10.0M | 1.6% | ADD |
| 14 | Grail, INC. | COM | $178.5M | 2.1M | 1.0% | ADD |
| 15 | Edgewise Therapeutics, INC. | COM | $163.2M | 6.6M | 1.0% | TRIM |
| 16 | Arrowhead Pharmaceuticals, INC. | COM | $144.4M | 2.2M | 0.8% | ADD |
| 17 | Ionis Pharmaceuticals, INC. | COM | $141.8M | 1.8M | 0.8% | ADD |
| 18 | Immunovant, INC. | COM | $138.7M | 5.5M | 0.8% | HOLD |
| 19 | Immatics N.V. | SHS | $127.0M | 12.1M | 0.7% | HOLD |
| 20 | Ideaya Biosciences, INC. | COM | $125.1M | 3.6M | 0.7% | ADD |
| 21 | Roivant Sciences LTD. | SHS | $120.5M | 5.6M | 0.7% | ADD |
| 22 | Abivax S.A. | SPONSORED ADS | $118.1M | 876K | 0.7% | HOLD |
| 23 | Kiniksa Pharmaceuticals International, Plc | ORD SHS CL A | $116.6M | 2.8M | 0.7% | ADD |
| 24 | Replimune Group, INC. | COM | $107.4M | 11.0M | 0.6% | HOLD |
| 25 | Stoke Therapeutics, INC. | COM | $105.9M | 3.3M | 0.6% | TRIM |
| 26 | Structure Therapeutics INC. | SPONSORED ADS | $99.6M | 1.4M | 0.6% | TRIM |
| 27 | ABCLAbCellera Biologics Inc.★ | COM | $94.1M | 27.5M | 0.6% | HOLD |
| 28 | Nurix Therapeutics, INC. | COM | $88.4M | 4.7M | 0.5% | ADD |
| 29 | Immunocore Holdings Plc | ADS | $80.6M | 2.3M | 0.5% | HOLD |
| 30 | Bicycle Therapeutics Plc | SPONSORED ADS | $77.1M | 10.9M | 0.5% | HOLD |
| 31 | Crinetics Pharmaceuticals, INC. | COM | $76.8M | 1.6M | 0.4% | ADD |
| 32 | Monte Rosa Therapeutics, INC. | COM | $68.1M | 4.3M | 0.4% | TRIM |
| 33 | Celcuity INC. | Note 2.75% 8/1/2031 | $66.6M | 30.8M prn | 0.4% | HOLD |
| 34 | Ultragenyx Pharmaceutical INC. | COM | $63.8M | 2.8M | 0.4% | HOLD |
| 35 | Denali Therapeutics INC. | COM | $61.6M | 3.7M | 0.4% | HOLD |
| 36 | Viridian Therapeutics, INC. | COM | $61.4M | 2.0M | 0.4% | ADD |
| 37 | Entrada Therapeutics, INC. | COM | $52.1M | 5.1M | 0.3% | ADD |
| 38 | Rapport Therapeutics, INC. | COM | $46.9M | 1.5M | 0.3% | HOLD |
| 39 | Terns Pharmaceuticals, INC. | COM | $38.4M | 950K | 0.2% | NEW |
| 40 | Biontech Se | SPONSORED ADS | $35.1M | 369K | 0.2% | HOLD |
| 41 | Spyre Therapeutics, INC. | COM | $32.8M | 1.0M | 0.2% | HOLD |
| 42 | Dianthus Therapeutics, INC. | COM | $32.5M | 790K | 0.2% | HOLD |
| 43 | Prelude Therapeutics INC. | COM | $29.4M | 10.1M | 0.2% | HOLD |
| 44 | Dbv Technologies S.A. | SPONSORED ADS | $28.0M | 1.5M | 0.2% | HOLD |
| 45 | Disc Medicine, INC. | COM | $26.8M | 337K | 0.2% | HOLD |
| 46 | Jade Biosciences, INC. | COM | $25.3M | 1.6M | 0.1% | NEW |
| 47 | Taysha Gene Therapies, INC. | COM SHS | $22.0M | 4.0M | 0.1% | HOLD |
| 48 | Biocryst Pharmaceuticals, INC. | COM | $22.0M | 2.8M | 0.1% | NEW |
| 49 | Ventyx Biosciences, INC. | COM | $21.2M | 2.3M | 0.1% | ADD |
| 50 | Argenx Se | SPONSORED ADR | $21.2M | 25K | 0.1% | TRIM |
| 51 | Design Therapeutics, INC. | COM | $20.9M | 2.2M | 0.1% | ADD |
| 52 | Cerus Corporation | COM | $20.6M | 10.0M | 0.1% | HOLD |
| 53 | Neurogene INC. | COM | $20.4M | 992K | 0.1% | HOLD |
| 54 | Tectonic Therapeutic, INC. | COM | $18.8M | 903K | 0.1% | ADD |
| 55 | Cytomx Therapeutics, INC. | COM | $18.1M | 4.3M | 0.1% | HOLD |
| 56 | Celldex Therapeutics, INC. | COM | $18.1M | 665K | 0.1% | HOLD |
| 57 | Xencor, INC. | COM | $16.9M | 1.1M | 0.1% | HOLD |
| 58 | Centessa Pharmaceuticals Plc | SPONSORED ADS | $16.8M | 671K | 0.1% | NEW |
| 59 | Xenon Pharmaceuticals INC. | COM | $16.6M | 370K | 0.1% | HOLD |
| 60 | Sionna Therapeutics, INC. | COM | $16.5M | 400K | 0.1% | HOLD |
| 61 | Contineum Therapeutics, INC. | CL A | $16.2M | 1.4M | 0.1% | ADD |
| 62 | Sera Prognostics, INC. | CLASS A COM | $16.2M | 5.5M | 0.1% | HOLD |
| 63 | Dyne Therapeutics, INC. | COM | $15.9M | 813K | 0.1% | NEW |
| 64 | Alumis INC. | COM | $15.2M | 1.6M | 0.1% | HOLD |
| 65 | Nuvalent, INC. | COM | $14.5M | 144K | 0.1% | HOLD |
| 66 | Pharvaris N.V. | COM | $10.4M | 375K | 0.1% | HOLD |
| 67 | Relay Therapeutics, INC. | COM | $9.8M | 1.2M | 0.1% | HOLD |
| 68 | Absci Corporation | COM | $7.5M | 2.1M | 0.0% | NEW |
| 69 | Arcus Biosciences, INC. | COM | $6.4M | 270K | 0.0% | NEW |
| 70 | Maplight Therapeutics, INC. | COM | $6.4M | 365K | 0.0% | NEW |
| 71 | Vtv Therapeutics, INC. | CL A | $5.9M | 148K | 0.0% | HOLD |
| 72 | Wave Life Sciences LTD. | SHS | $5.8M | 344K | 0.0% | HOLD |
| 73 | Sagimet Biosciences INC. | COM SER A | $5.6M | 953K | 0.0% | HOLD |
| 74 | Protara Therapeutics, INC. | COM STK | $5.2M | 972K | 0.0% | ADD |
| 75 | Lb Pharmaceuticals INC. | COM SHS | $4.5M | 200K | 0.0% | HOLD |
| 76 | Enliven Therapeutics, INC. | COM | $4.2M | 271K | 0.0% | ADD |
| 77 | 4D Molecular Therapeutics, INC. | COM | $3.6M | 476K | 0.0% | NEW |
| 78 | Vir Biotechnology, INC. | COM | $3.3M | 543K | 0.0% | HOLD |
| 79 | Tscan Therapeutics, INC. | COM | $2.8M | 2.8M | 0.0% | HOLD |
| 80 | Sana Biotechnology, INC. | COM | $1.3M | 310K | 0.0% | TRIM |
| 81 | Skye Bioscience, INC. | COM | $1.1M | 1.5M | 0.0% | HOLD |
| 82 | Kala Bio, INC. | COM | $1.0M | 1.8M | 0.0% | ADD |
| 83 | Aligos Therapeutics, INC. | COM | $774K | 83K | 0.0% | HOLD |
| 84 | Tyra Biosciences, INC. | COM | $279K | 11K | 0.0% | HOLD |
| 85 | Acrivon Therapeutics, INC. | COMMON STOCK | $55K | 23K | 0.0% | HOLD |
| 86 | Surrozen, INC. | W EXP 8/11/2026 | $17K | 833K | 0.0% | HOLD |