Baker Bros. Advisors LP 13F holdings, Q2 2025
Holdings as of June 30, 2025 · filings on SEC EDGAR · latest filing →
Baker Bros. Advisors LP disclosed 88 US equity positions worth $10.3bn in its Q2 2025 13F filing. The largest position was ONC at 20.7% of the reported book, followed by INCY and ACAD. Against the Q1 2025 filing, it opened 4 new positions, added to 18 and reduced 4 among the top 50 holdings.
What did Baker Bros. Advisors LP own in Q2 2025? Top 50 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q1 2025 |
|---|---|---|---|---|---|---|---|
| 1 | ONC BeOne Medicines Ltd. | Healthcare | 20.7% | $2.1bn | 8,799,053 | 0% | held |
| 2 | INCY Incyte Corporation | Healthcare | 20.3% | $2.1bn | 30,743,275 | 0% | held |
| 3 | ACAD ACADIA Pharmaceuticals Inc. | Healthcare | 9.0% | $925.3m | 42,896,690 | 0% | held |
| 4 | INSM Insmed Incorporated | Healthcare | 7.5% | $776.2m | 7,712,900 | 43% | added |
| 5 | SMMT Summit Therapeutics Inc. | Healthcare | 7.0% | $717.6m | 33,722,974 | 38% | added |
| 6 | MDGL Madrigal Pharmaceuticals, Inc. | Healthcare | 5.8% | $598.0m | 1,976,018 | 0% | held |
| 7 | RYTM Rhythm Pharmaceuticals, Inc. | Healthcare | 3.4% | $354.1m | 5,604,483 | 0% | held |
| 8 | RVMD Revolution Medicines, Inc. | Healthcare | 3.3% | $344.5m | 9,364,972 | 18% | added |
| 9 | KYMR Kymera Therapeutics, Inc. | Healthcare | 2.8% | $290.3m | 6,651,429 | 11% | added |
| 10 | ALKS Alkermes plc | Healthcare | 1.8% | $183.4m | 6,410,603 | 43% | added |
| 11 | REPL Replimune Group, Inc. | Healthcare | 1.0% | $102.6m | 11,045,336 | 0% | held |
| 12 | RARE Ultragenyx Pharmaceutical Inc. | Healthcare | 1.0% | $100.8m | 2,772,692 | 76% | added |
| 13 | EWTX Edgewise Therapeutics, Inc. | 0.9% | $95.8m | 7,305,940 | 19% | added | |
| 14 | ABCL AbCellera Biologics Inc. | Healthcare | 0.9% | $94.4m | 27,525,640 | 0% | held |
| 15 | IMVT Immunovant, Inc. | Healthcare | 0.8% | $87.3m | 5,457,881 | 0% | held |
| 16 | GRAL GRAIL, Inc. | 0.8% | $83.8m | 1,630,125 | 0% | held | |
| 17 | Kiniksa Pharmaceuticals International, plc | 0.8% | $78.2m | 2,824,669 | 0% | held | |
| 18 | BCYC Bicycle Therapeutics plc | Healthcare | 0.7% | $75.7m | 10,885,357 | 0% | held |
| 19 | IMCR Immunocore Holdings plc | Healthcare | 0.7% | $72.9m | 2,322,656 | 0% | held |
| 20 | CELC Celcuity Inc. | Healthcare | 0.7% | $72.8m | 5,450,445 | 28% | added |
| 21 | KOD Kodiak Sciences Inc. | Healthcare | 0.6% | $64.6m | 17,310,490 | 0% | held |
| 22 | IMTX Immatics N.V. | Healthcare | 0.5% | $54.7m | 10,168,901 | 40% | added |
| 23 | STOK Stoke Therapeutics, Inc. | Healthcare | 0.5% | $52.6m | 4,633,838 | 0% | held |
| 24 | DNLI Denali Therapeutics Inc. | Healthcare | 0.5% | $52.2m | 3,731,695 | 0% | held |
| 25 | GPCR Structure Therapeutics Inc. | Healthcare | 0.5% | $52.0m | 2,508,767 | 594% | added |
| 26 | IDYA IDEAYA Biosciences, Inc. | Healthcare | 0.4% | $44.5m | 2,118,728 | 99% | added |
| 27 | NRIX Nurix Therapeutics, Inc. | Healthcare | 0.4% | $44.2m | 3,882,125 | 0% | held |
| 28 | ROIV Roivant Sciences Ltd. | Healthcare | 0.4% | $42.5m | 3,767,773 | 0% | held |
| 29 | BNTX BioNTech SE | Healthcare | 0.4% | $39.3m | 368,923 | 719% | added |
| 30 | TRDA Entrada Therapeutics, Inc. | 0.3% | $32.7m | 4,865,819 | 0% | held | |
| 31 | Merus N.V. | 0.3% | $30.2m | 574,377 | 157% | added | |
| 32 | PRAX Praxis Precision Medicines, Inc. | Healthcare | 0.3% | $29.0m | 689,488 | 108% | added |
| 33 | NTLA Intellia Therapeutics, Inc. | Healthcare | 0.2% | $25.1m | 2,675,674 | 315% | added |
| 34 | VRDN Viridian Therapeutics, Inc. | Healthcare | 0.2% | $24.4m | 1,744,406 | – | new |
| 35 | GLUE Monte Rosa Therapeutics, Inc. | 0.2% | $22.2m | 4,916,095 | 0% | held | |
| 36 | VRNA Verona Pharma plc | 0.2% | $21.2m | 223,843 | 0% | held | |
| 37 | PCVX Vaxcyte, Inc. | Healthcare | 0.2% | $20.8m | 640,885 | 0% | held |
| 38 | ARGX argenx SE | Healthcare | 0.2% | $20.8m | 37,760 | -51% | reduced |
| 39 | Verve Therapeutics, Inc. | 0.2% | $19.0m | 1,691,530 | 0% | held | |
| 40 | CERS Cerus Corporation | Healthcare | 0.2% | $18.2m | 12,883,844 | -33% | reduced |
| 41 | IRON Disc Medicine, Inc. | Healthcare | 0.2% | $17.9m | 337,050 | 337% | added |
| 42 | Akero Therapeutics, Inc. | 0.2% | $17.3m | 324,630 | -41% | reduced | |
| 43 | 2655787D Blueprint Medicines Corporation | 0.2% | $16.1m | 125,538 | – | new | |
| 44 | SERA Sera Prognostics, Inc. | 0.1% | $15.2m | 5,498,170 | 0% | held | |
| 45 | ARWR Arrowhead Pharmaceuticals, Inc. | Healthcare | 0.1% | $14.8m | 939,174 | – | new |
| 46 | NGNE Neurogene Inc. | 0.1% | $14.8m | 991,691 | -33% | reduced | |
| 47 | DNTH Dianthus Therapeutics, Inc. | Healthcare | 0.1% | $14.7m | 789,759 | – | new |
| 48 | CLDX Celldex Therapeutics, Inc. | Healthcare | 0.1% | $13.5m | 665,370 | 169% | added |
| 49 | DBVT DBV Technologies S.A. | 0.1% | $13.4m | 1,461,425 | 0% | held | |
| 50 | XENE Xenon Pharmaceuticals Inc. | Healthcare | 0.1% | $11.6m | 370,208 | 7% | added |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.