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BBA

Baker Bros. Advisors Portfolio holdings

AUM $20B
1-Year Est. Return 154.41%
This Fund
S&P 500
This Quarter Est. Return
+22.23%
1 Year Est. Return
+154.41%
3 Year Est. Return
+448.58%
5 Year Est. Return
+670.61%
10 Year Est. Return
+4,743.65%
AUM
$20B
AUM Growth
+$2.54B
Cap. Flow
+$128M
Cap. Flow %
0.64%
Top 10 Hldgs %
72.82%
Holding
92
New
8
Increased
16
Reduced
7
Closed
9
Avg Time Held
14.2 quarters
Top 10 Avg Time Held
18.7 quarters
Top 20 Avg Time Held
13.2 quarters

Top Buys

Rank Stock Value
1
RVMD icon
Revolution Medicines
RVMD
+$276M
2
INSM icon
Insmed
INSM
+$166M
3
IDYA icon
IDEAYA Biosciences
IDYA
+$32.6M
4
FTH icon
Faeth Therapeutics
FTH
+$29.8M
5
RLAY icon
Relay Therapeutics
RLAY
+$24.2M

Top Sells

Rank Stock Value
1
EWTX icon
Edgewise Therapeutics
EWTX
+$99.1M
2
ABVX icon
Abivax
ABVX
+$97.5M
3
SMMT icon
Summit Therapeutics
SMMT
+$63.9M
4
SYRE icon
Spyre Therapeutics
SYRE
+$50.4M
5
CNTA
Centessa Pharmaceuticals
CNTA
+$26.6M

Sector Composition

Rank Sector Weight
1 Healthcare 99.65%
2 Miscellaneous 0.35%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
INCY icon
1
Incyte
INCY
$22.4B
$3.49B 17.48%
30,762,330
+17,918
+0.1% +$1.78M
2013 Q2
52 quarters
ONC icon
2
BeOne Medicines Ltd
ONC
$40.1B
$2.51B 12.57%
8,801,567
+2,514
+0% +$741K
2016 Q1
41 quarters
RVMD icon
3
Revolution Medicines
RVMD
$41.1B
$2.14B 10.74%
11,443,357
+1,888,000
+20% +$276M
2021 Q1
21 quarters
MDGL icon
4
Madrigal Pharmaceuticals
MDGL
$10.8B
$1.15B 5.77%
2,143,131
+1,430
+0.1% +$732K
2016 Q2
40 quarters
ACAD icon
5
Acadia Pharmaceuticals
ACAD
$3.28B
$1.09B 5.44%
42,912,904
+16,214
+0% +$357K
2013 Q2
52 quarters
KYMR icon
6
Kymera Therapeutics
KYMR
$9.3B
$993M 4.97%
8,657,242
– –
2020 Q3
23 quarters
INSM icon
7
Insmed
INSM
$21.6B
$938M 4.7%
8,796,111
+1,375,000
+19% +$166M
2013 Q2
52 quarters
CELC icon
8
Celcuity
CELC
$3.21B
$828M 4.15%
7,915,792
– –
2023 Q3
11 quarters
KOD icon
9
Kodiak Sciences
KOD
$6.19B
$776M 3.89%
19,919,186
– –
2018 Q4
30 quarters
RYTM icon
10
Rhythm Pharmaceuticals
RYTM
$6.16B
$622M 3.12%
5,604,483
– –
2017 Q4
34 quarters
PRAX icon
11
Praxis Precision Medicines
PRAX
$7.03B
$587M 2.94%
1,753,198
– –
2022 Q4
14 quarters
ALKS icon
12
Alkermes
ALKS
$6.77B
$525M 2.63%
10,012,267
– –
2024 Q2
8 quarters
SMMT icon
13
Summit Therapeutics
SMMT
$13.1B
$478M 2.39%
32,786,348
-3,604,715
-10% -$63.9M
2024 Q2
8 quarters
GRAL icon
14
GRAIL Inc
GRAL
$6.14B
$275M 1.38%
4,028,614
– –
2024 Q4
6 quarters
ABCL icon
15
AbCellera Biologics
ABCL
$4.01B
$259M 1.3%
33,012,138
+2,736,200
+9% +$13.4M
2020 Q4
22 quarters
IMVT icon
16
Immunovant
IMVT
$6.08B
$209M 1.05%
5,435,220
-22,661
-0.4% -$690K
2023 Q3
11 quarters
IDYA icon
17
IDEAYA Biosciences
IDYA
$3.46B
$187M 0.94%
5,010,030
+1,063,515
+27% +$32.6M
2022 Q3
15 quarters
KNSA icon
18
Kiniksa Pharmaceuticals
KNSA
$6.15B
$181M 0.91%
2,834,643
+8,397
+0.3% +$436K
2018 Q2
32 quarters
ROIV icon
19
Roivant Sciences
ROIV
$24.8B
$167M 0.84%
4,716,831
-150,892
-3% -$4.46M
2022 Q4
14 quarters
ARWR icon
20
Arrowhead Research
ARWR
$8.48B
$162M 0.81%
1,992,783
– –
2025 Q2
4 quarters
IONS icon
21
Ionis Pharmaceuticals
IONS
$7.23B
$162M 0.81%
2,047,727
– –
2025 Q3
3 quarters
EWTX icon
22
Edgewise Therapeutics
EWTX
$4.15B
$150M 0.75%
3,701,719
-2,874,221
-44% -$99.1M
2021 Q1
21 quarters
REPL icon
23
Replimune Group
REPL
$1.21B
$122M 0.61%
11,045,336
– –
2020 Q2
24 quarters
NRIX icon
24
Nurix Therapeutics
NRIX
$2.31B
$113M 0.57%
4,658,556
– –
2020 Q3
23 quarters
STOK icon
25
Stoke Therapeutics
STOK
$1.55B
$109M 0.55%
3,336,697
– –
2022 Q3
15 quarters
1
2 3 4

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Baker Bros. Advisors's Q2 2026 Portfolio in Review

As of Q2 2026, Baker Bros. Advisors held 92 positions worth $20B, up 15% from $17.4B the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Baker Bros. Advisors's Q2 2026 filing shows 8 new, 16 increased, 7 reduced and 9 closed positions. Its largest new stake was Faeth Therapeutics: 1,286,411 shares worth $32.2M. The largest sale was Edgewise Therapeutics, an estimated $99.1M.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 100% a quarter earlier, followed by Miscellaneous.

  • Baker Bros. Advisors's largest Q2 2026 buy was Faeth Therapeutics: 1,286,411 shares worth $32.2M.
  • Baker Bros. Advisors added most to Revolution Medicines in Q2 2026, an estimated $276M increase.
  • Baker Bros. Advisors's biggest Q2 2026 reduction was Edgewise Therapeutics, cutting an estimated $99.1M.
  • Baker Bros. Advisors fully exited Abivax in Q2 2026, selling an estimated $97.5M.
  • Baker Bros. Advisors's ten largest holdings make up 73% of its $20B portfolio in Q2 2026.
  • Baker Bros. Advisors opened 8 new positions and closed 9 in Q2 2026.
  • Baker Bros. Advisors's portfolio value rose 15% quarter-over-quarter to $20B.

Based on Baker Bros. Advisors's 13F filing for Q2 2026, filed 14 Aug 2026.