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BAKER BROS. ADVISORS LP
hedge fundUpdated 27 days agoManaged by Baker Bros. Advisors Lp • Latest filing Q2 2026
Portfolio value
$20B
Q2 2026
Filings
14
Quarterly 13F history
Top-10 concentration
100.0%
Weight of largest holdings
Annualized return
2.6%
Implied from 13F holdings
Portfolio value history
13F-disclosed portfolio value over 14 quarters
Show data table
| Period | Portfolio value |
|---|---|
| Q1 2023 | $18.4B |
| Q2 2023 | $17.3B |
| Q3 2023 | $17.4B |
| Q4 2023 | $8.8B |
| Q1 2024 | $8B |
| Q2 2024 | $7.8B |
| Q3 2024 | $9.6B |
| Q4 2024 | $9.4B |
| Q1 2025 | $9B |
| Q2 2025 | $10.3B |
| Q3 2025 | $13.8B |
| Q4 2025 | $17.1B |
| Q1 2026 | $17.4B |
| Q2 2026 | $20B |
Top holdings
84 positions as of Q2 2026
| # | Stock | Value | Shares | % Portfolio | Change |
|---|---|---|---|---|---|
| 1 | I INCY Incyte Corporation | $3.5B | 30.76M | 17.48% | Added(+0.1%) |
| 2 | B BEIGF BeOne Medicines Ltd. | $2.5B | 8.80M | 12.57% | Added(+0.0%) |
| 3 | R RVMDW Revolution Medicines, Inc. | $2.1B | 11.44M | 10.74% | Added(+19.8%) |
| 4 | M MDGL Madrigal Pharmaceuticals, Inc. | $1.2B | 2.14M | 5.77% | Added(+0.1%) |
| 5 | A ACAD ACADIA Pharmaceuticals Inc. | $1.1B | 42.91M | 5.44% | Added(+0.0%) |
| 6 | K KYMR Kymera Therapeutics, Inc. | $992.7M | 8.66M | 4.97% | Unchanged |
| 7 | I INSM Insmed Incorporated | $937.8M | 8.80M | 4.70% | Added(+18.5%) |
| 8 | C CELC Celcuity Inc. | $828.2M | 7.92M | 4.15% | Unchanged |
| 9 | K KOD Kodiak Sciences Inc. | $776.1M | 19.92M | 3.89% | Unchanged |
| 10 | R RYTM Rhythm Pharmaceuticals, Inc. | $622.3M | 5.60M | 3.12% | Unchanged |
| 11 | P PRAX Praxis Precision Medicines, Inc. | $587M | 1.75M | 2.94% | Unchanged |
| 12 | A ALKS Alkermes plc | $524.6M | 10.01M | 2.63% | Unchanged |
| 13 | S SMMT Summit Therapeutics Inc. | $477.7M | 32.79M | 2.39% | Trimmed(-9.9%) |
| 14 | G GRAL GRAIL, Inc. | $275M | 4.03M | 1.38% | Unchanged |
| 15 | A ABCL AbCellera Biologics Inc. | $259.1M | 33.01M | 1.30% | Added(+9.0%) |
| 16 | I IMVT Immunovant, Inc. | $209.4M | 5.44M | 1.05% | Trimmed(-0.4%) |
| 17 | I IDYA IDEAYA Biosciences, Inc. | $186.7M | 5.01M | 0.94% | Added(+26.9%) |
| 18 | K KNSA Kiniksa Pharmaceuticals International, plc | $181.3M | 2.83M | 0.91% | Added(+0.3%) |
| 19 | R ROIV Roivant Sciences Ltd. | $166.9M | 4.72M | 0.84% | Trimmed(-3.1%) |
| 20 | A ARWR Arrowhead Pharmaceuticals, Inc. | $162.4M | 1.99M | 0.81% | Unchanged |