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BBA

Baker Bros. Advisors Portfolio holdings

AUM $17.4B
1-Year Est. Return 131.5%
This Fund
S&P 500
This Quarter Est. Return
+50.25%
1 Year Est. Return
+131.5%
3 Year Est. Return
+336.81%
5 Year Est. Return
+553.16%
10 Year Est. Return
+4,134.93%
AUM
$13.8B
AUM Growth
+$3.53B
Cap. Flow
+$222M
Cap. Flow %
1.61%
Top 10 Hldgs %
79.05%
Holding
100
New
10
Increased
14
Reduced
6
Closed
9

Top Buys

Rank Stock Value
1
CELC icon
Celcuity
CELC
+$98.7M
2
MDGL icon
Madrigal Pharmaceuticals
MDGL
+$61.8M
3
ABVX
Abivax
ABVX
+$53.7M
4
ALKS icon
Alkermes
ALKS
+$47.4M
5
IDYA icon
IDEAYA Biosciences
IDYA
+$28M

Top Sells

Rank Stock Value
1
INSM icon
Insmed
INSM
+$124M
2
VRNA
Verona Pharma
VRNA
+$21.2M
3
VERV
Verve Therapeutics
VERV
+$19M
4
GPCR icon
Structure Therapeutics
GPCR
+$19M
5
BPMC
Blueprint Medicines
BPMC
+$16.1M

Sector Composition

Rank Sector Weight
1 Healthcare 99.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ROIV icon
26
Roivant Sciences
ROIV
$25.2B
$57M 0.41%
3,767,773
– –
DNLI icon
27
Denali Therapeutics
DNLI
$3.67B
$54.2M 0.39%
3,731,695
– –
MRUS
28
DELISTED
Merus
MRUS
$54.1M 0.39%
574,377
– –
NTLA icon
29
Intellia Therapeutics
NTLA
$1.5B
$47.4M 0.34%
2,746,674
+71,000
+3% +$874K
REPL icon
30
Replimune Group
REPL
$814M
$46.3M 0.33%
11,045,336
– –
RAPP
31
Rapport Therapeutics
RAPP
$1.95B
$45.9M 0.33%
1,547,090
+997,000
+181% +$17.8M
GPCR icon
32
Structure Therapeutics
GPCR
$3.49B
$43.6M 0.31%
1,556,109
-952,658
-38% -$19M
VRDN icon
33
Viridian Therapeutics
VRDN
$2.13B
$37.6M 0.27%
1,744,406
– –
IONS icon
34
Ionis Pharmaceuticals
IONS
$9.35B
$37.1M 0.27%
+566,798
New +$27.7M
PRAX icon
35
Praxis Precision Medicines
PRAX
$9.07B
$36.5M 0.26%
689,488
– –
GLUE icon
36
Monte Rosa Therapeutics
GLUE
$1.92B
$36.4M 0.26%
4,916,095
– –
BNTX icon
37
BioNTech
BNTX
$22.6B
$36.4M 0.26%
368,923
– –
NRIX icon
38
Nurix Therapeutics
NRIX
$2.43B
$35.9M 0.26%
3,882,125
– –
DNTH icon
39
Dianthus Therapeutics
DNTH
$5.68B
$31.1M 0.22%
789,759
– –
TRDA icon
40
Entrada Therapeutics
TRDA
$227M
$28.2M 0.2%
4,865,819
– –
ARGX icon
41
argenx
ARGX
$57.4B
$27.9M 0.2%
37,760
– –
RNAM
42
DELISTED
Avidity Biosciences
RNAM
$27.2M 0.2%
+625,000
New +$25.3M
PCVX icon
43
Vaxcyte
PCVX
$7.89B
$23.1M 0.17%
640,885
– –
IRON icon
44
Disc Medicine
IRON
$2.83B
$22.3M 0.16%
337,050
– –
CDTX
45
DELISTED
Cidara Therapeutics
CDTX
$21.8M 0.16%
227,272
– –
CLDX icon
46
Celldex Therapeutics
CLDX
$2.77B
$17.2M 0.12%
665,370
– –
NGNE icon
47
Neurogene
NGNE
$696M
$17.2M 0.12%
991,691
– –
SERA icon
48
Sera Prognostics
SERA
$80.3M
$16.8M 0.12%
5,498,170
– –
SYRE icon
49
Spyre Therapeutics
SYRE
$8.87B
$16.8M 0.12%
1,000,000
+373,297
+60% +$6.09M
CERS icon
50
Cerus
CERS
$587M
$15.9M 0.12%
10,008,345
-2,875,499
-22% -$3.88M
1
2
3 4

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MCM
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BCIM
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Baker Bros. Advisors's Q3 2025 Portfolio in Review

As of Q3 2025, Baker Bros. Advisors held 100 positions worth $13.8B, up 34% from $10.3B the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Baker Bros. Advisors's Q3 2025 filing shows 10 new, 14 increased, 6 reduced and 9 closed positions. Its largest new stake was Abivax: 875,796 shares worth $74.4M. The largest sale was Insmed, an estimated $124M.

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

  • Baker Bros. Advisors's largest Q3 2025 buy was Abivax: 875,796 shares worth $74.4M.
  • Baker Bros. Advisors added most to Celcuity in Q3 2025, an estimated $98.7M increase.
  • Baker Bros. Advisors's biggest Q3 2025 reduction was Insmed, cutting an estimated $124M.
  • Baker Bros. Advisors fully exited Verona Pharma in Q3 2025, selling an estimated $21.2M.
  • Baker Bros. Advisors's ten largest holdings make up 79% of its $13.8B portfolio in Q3 2025.
  • Baker Bros. Advisors opened 10 new positions and closed 9 in Q3 2025.
  • Baker Bros. Advisors's portfolio value rose 34% quarter-over-quarter to $13.8B.

Based on Baker Bros. Advisors's 13F filing for Q3 2025, filed 14 Nov 2025.