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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
+50.25%
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
$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%
2 Miscellaneous 0.3%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AKRO
51
DELISTED
Akero Therapeutics
AKRO
$15.4M 0.11%
324,630
– –
XENE icon
52
Xenon Pharmaceuticals
XENE
$5.64B
$14.9M 0.11%
370,208
– –
DBVT
53
DBV Technologies
DBVT
$745M
$14.6M 0.11%
1,461,425
– –
PRLD icon
54
Prelude Therapeutics
PRLD
$366M
$14.6M 0.11%
10,123,824
– –
ACLX
55
DELISTED
Arcellx
ACLX
$13.7M 0.1%
166,825
– –
CTMX icon
56
CytomX Therapeutics
CTMX
$697M
$13.6M 0.1%
4,250,826
+766,600
+22% +$1.73M
TSHA icon
57
Taysha Gene Therapies
TSHA
$1.64B
$13.1M 0.09%
4,004,756
– –
XNCR icon
58
Xencor
XNCR
$1.81B
$12.9M 0.09%
1,102,106
+431,675
+64% +$3.75M
DSGN icon
59
Design Therapeutics
DSGN
$916M
$12.9M 0.09%
1,712,882
– –
NUVL
60
DELISTED
Nuvalent
NUVL
$12.4M 0.09%
143,937
– –
SION
61
Sionna Therapeutics
SION
$373M
$11.8M 0.09%
400,000
– –
CRNX
62
DELISTED
Crinetics Pharmaceuticals
CRNX
$11.7M 0.08%
280,000
– –
VKTX icon
63
Viking Therapeutics
VKTX
$3.68B
$9.62M 0.07%
+366,083
New +$10.9M
PHVS icon
64
Pharvaris
PHVS
$2.67B
$9.36M 0.07%
+375,000
New +$8.32M
AGIO icon
65
Agios Pharmaceuticals
AGIO
$2.01B
$7.62M 0.06%
189,866
– –
SANA icon
66
Sana Biotechnology
SANA
$958M
$7.21M 0.05%
2,030,949
– –
SGMT icon
67
Sagimet Biosciences
SGMT
$676M
$6.54M 0.05%
952,996
– –
ALMS
68
Alumis Inc
ALMS
$1.19B
$6.23M 0.05%
1,562,500
– –
RLAY icon
69
Relay Therapeutics
RLAY
$4.14B
$6.06M 0.04%
1,160,117
– –
SKYE icon
70
Skye Bioscience
SKYE
$9.03M
$5.7M 0.04%
181,330
– –
HRTX icon
71
Heron Therapeutics
HRTX
$59.9M
$5.36M 0.04%
+4,251,951
New +$6.74M
TCRX icon
72
TScan Therapeutics
TCRX
$21.7M
$5.07M 0.04%
2,784,792
– –
MBX
73
MBX Biosciences
MBX
$2.84B
$4.86M 0.04%
+277,777
New +$3.71M
VTVT icon
74
vTv Therapeutics
VTVT
$126M
$3.46M 0.03%
148,314
+51,000
+52% +$895K
VTYX
75
DELISTED
Ventyx Biosciences
VTYX
$3.18M 0.02%
+1,023,130
New +$2.71M
1 2
3
4

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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, followed by Miscellaneous.

  • 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.