Baker Bros. Advisors LP: 13F holdings, Q2 2026
Hedge fund · SEC EDGAR filings (CIK 1263508) · Explore on the interactive board
Baker Bros. Advisors LP disclosed 84 US equity positions worth $20.0bn in its Q2 2026 13F filing (holdings as of June 30, 2026, filed August 14, 2026). Its largest position is INCY at 17.5% of the reported book, followed by ONC, RVMD. The top ten holdings are 72.8% of the book, and the portfolio behaves like about 13 equal-weight positions. Versus the prior filing it opened 8 new positions, added to 10, reduced 6 and exited 8. Note: this manager's most recent filing is 3934 quarters behind the newest quarter on file, so these figures are history rather than current positioning.
What does Baker Bros. Advisors LP own? Top holdings as of June 30, 2026
Change is measured in shares against the previous filing (Q1 2026), so price moves do not read as decisions. This quarter: 8 new, 10 added, 6 reduced, 8 exited.
| # | Stock | Sector | Weight | Value | Shares | Δ shares | Action |
|---|---|---|---|---|---|---|---|
| 1 | INCY Incyte Corporation | Healthcare | 17.5% | $3.5bn | 30,762,330 | 0% | held |
| 2 | ONC BeOne Medicines Ltd. | Healthcare | 12.6% | $2.5bn | 8,801,567 | 0% | held |
| 3 | RVMD Revolution Medicines, Inc. | Healthcare | 10.7% | $2.1bn | 11,443,357 | 20% | added |
| 4 | MDGL Madrigal Pharmaceuticals, Inc. | Healthcare | 5.8% | $1.2bn | 2,143,131 | 0% | held |
| 5 | ACAD ACADIA Pharmaceuticals Inc. | Healthcare | 5.4% | $1.1bn | 42,912,904 | 0% | held |
| 6 | KYMR Kymera Therapeutics, Inc. | Healthcare | 5.0% | $992.7m | 8,657,242 | 0% | held |
| 7 | INSM Insmed Incorporated | Healthcare | 4.7% | $937.8m | 8,796,111 | 19% | added |
| 8 | CELC Celcuity Inc. | Healthcare | 4.2% | $828.2m | 7,915,792 | 0% | held |
| 9 | KOD Kodiak Sciences Inc. | Healthcare | 3.9% | $776.1m | 19,919,186 | 0% | held |
| 10 | RYTM Rhythm Pharmaceuticals, Inc. | Healthcare | 3.1% | $622.3m | 5,604,483 | 0% | held |
| 11 | PRAX Praxis Precision Medicines, Inc. | Healthcare | 2.9% | $587.0m | 1,753,198 | 0% | held |
| 12 | ALKS Alkermes plc | Healthcare | 2.6% | $524.6m | 10,012,267 | 0% | held |
| 13 | SMMT Summit Therapeutics Inc. | Healthcare | 2.4% | $477.7m | 32,786,348 | -10% | reduced |
| 14 | GRAL GRAIL, Inc. | Healthcare | 1.4% | $275.0m | 4,028,614 | 0% | held |
| 15 | ABCL AbCellera Biologics Inc. | Healthcare | 1.3% | $259.1m | 33,012,138 | 9% | added |
| 16 | IMVT Immunovant, Inc. | Healthcare | 1.0% | $209.4m | 5,435,220 | -0% | held |
| 17 | IDYA IDEAYA Biosciences, Inc. | Healthcare | 0.9% | $186.7m | 5,010,030 | 27% | added |
| 18 | Kiniksa Pharmaceuticals International, plc | 0.9% | $181.3m | 2,834,643 | 0% | held | |
| 19 | ROIV Roivant Sciences Ltd. | Healthcare | 0.8% | $166.9m | 4,716,831 | -3% | reduced |
| 20 | ARWR Arrowhead Pharmaceuticals, Inc. | Healthcare | 0.8% | $162.4m | 1,992,783 | 0% | held |
| 21 | IONS Ionis Pharmaceuticals, Inc. | Healthcare | 0.8% | $162.4m | 2,047,727 | 0% | held |
| 22 | EWTX Edgewise Therapeutics, Inc. | Healthcare | 0.8% | $150.4m | 3,701,719 | -44% | reduced |
| 23 | REPL Replimune Group, Inc. | Healthcare | 0.6% | $122.3m | 11,045,336 | 0% | held |
| 24 | NRIX Nurix Therapeutics, Inc. | Healthcare | 0.6% | $113.0m | 4,658,556 | 0% | held |
| 25 | STOK Stoke Therapeutics, Inc. | Healthcare | 0.5% | $109.2m | 3,336,697 | 0% | held |
| 26 | GLUE Monte Rosa Therapeutics, Inc. | Healthcare | 0.5% | $105.2m | 4,345,736 | 0% | held |
| 27 | IMTX Immatics N.V. | Healthcare | 0.5% | $96.3m | 9,508,565 | -13% | reduced |
| 28 | DNLI Denali Therapeutics Inc. | Healthcare | 0.5% | $96.0m | 3,734,336 | 0% | held |
| 29 | CRNXGBP Crinetics Pharmaceuticals, Inc. | 0.4% | $88.0m | 2,351,465 | 0% | held | |
| 30 | DNTH Dianthus Therapeutics, Inc. | Healthcare | 0.4% | $83.1m | 852,164 | 0% | held |
| 31 | GPCR Structure Therapeutics Inc. | Healthcare | 0.4% | $76.9m | 1,432,529 | 0% | held |
| 32 | Celcuity Inc. | 0.3% | $69.2m | 30,750,000 | 0% | held | |
| 33 | RAPP Rapport Therapeutics, Inc. | 0.3% | $64.5m | 1,547,090 | 0% | held | |
| 34 | ALMS Alumis Inc. | Healthcare | 0.3% | $56.6m | 2,012,500 | 0% | held |
| 35 | PRLD Prelude Therapeutics Inc. | 0.3% | $54.0m | 10,123,824 | 0% | held | |
| 36 | RLAY Relay Therapeutics, Inc. | Healthcare | 0.3% | $52.9m | 2,826,783 | 144% | added |
| 37 | MIRM Mirum Pharmaceuticals, Inc. | Healthcare | 0.3% | $52.2m | 445,975 | 0% | held |
| 38 | BCYC Bicycle Therapeutics plc | Healthcare | 0.2% | $46.2m | 10,885,357 | 0% | held |
| 39 | ELVN Enliven Therapeutics, Inc. | Healthcare | 0.2% | $45.9m | 905,191 | 0% | held |
| 40 | CLDX Celldex Therapeutics, Inc. | Healthcare | 0.2% | $44.0m | 1,182,611 | 78% | added |
| 41 | VRDN Viridian Therapeutics, Inc. | Healthcare | 0.2% | $43.8m | 2,383,025 | 21% | added |
| 42 | DSGN Design Therapeutics, Inc. | Healthcare | 0.2% | $38.8m | 2,678,430 | 4% | added |
| 43 | TRDA Entrada Therapeutics, Inc. | 0.2% | $37.3m | 5,072,730 | 0% | held | |
| 44 | FTH Faeth Therapeutics, Inc. | 0.2% | $32.2m | 1,286,411 | – | new | |
| 45 | AKTS Aktis Oncology, Inc. | 0.2% | $32.1m | 996,351 | 0% | held | |
| 46 | NGNE Neurogene Inc. | 0.2% | $31.2m | 991,691 | 0% | held | |
| 47 | JBIO Jade Biosciences, Inc. | Healthcare | 0.1% | $27.3m | 1,230,426 | -25% | reduced |
| 48 | TSHA Taysha Gene Therapies, Inc. | Healthcare | 0.1% | $27.3m | 4,004,756 | 0% | held |
| 49 | RCUS Arcus Biosciences, Inc. | Healthcare | 0.1% | $26.0m | 844,816 | 103% | added |
| 50 | IRON Disc Medicine, Inc. | Healthcare | 0.1% | $25.6m | 349,657 | 0% | held |
What did Baker Bros. Advisors LP sell? Positions exited since the previous filing
| Stock | Prior weight | Prior value |
|---|---|---|
| ABVX Abivax S.A. | 37.9% | $97.5m |
| SYRE Spyre Therapeutics, Inc. | 19.6% | $50.4m |
| CNTA Centessa Pharmaceuticals plc | 10.4% | $26.6m |
| IMCR Immunocore Holdings plc | 8.6% | $22.1m |
| CTNM Contineum Therapeutics, Inc. | 7.2% | $18.6m |
| ARGX argenx SE | 7.1% | $18.4m |
| CMPS COMPASS Pathways plc | 5.0% | $13.0m |
| PHVS Pharvaris N.V. | 4.1% | $10.6m |
Sector mix
| Sector | Weight |
|---|---|
| Healthcare | 96.4% |
Sectors cover positions whose ticker resolved to a sector; the remainder is unclassified, not cash.
Filing history
How concentrated is Baker Bros. Advisors LP's portfolio?
Across every quarter Baker Bros. Advisors LP has filed, its median largest position is 17.0% of the book and its median top-ten weight is 73.2%, which WhaleCreep classifies as concentrated (the gate is a median largest position of 5%). Of 8.0 completed holding spells, the median lasted 1.0 quarters; 84.0 positions are still open and their final length is unknown.