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BBA
Baker Bros. Advisors Portfolio holdings
AUM
$20B
Turnover
18.48%
1-Year Est. Return
154.41%
This Fund
S&P 500
This Quarter
Est. Return
+2.27%
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
$17.4B
AUM Growth
+$337M
(+2%)
Cap. Flow
+$511M
Cap. Flow
% of AUM
2.93%
Top 10 Holdings %
Top 10 Hldgs %
73.49%
Holding
93
New
8
Increased
18
Reduced
6
Closed
9
Avg Time Held
3.5
years
Top 10 Avg Time Held
4.6
years
Top 20 Avg Time Held
3.2
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Praxis Precision Medicines
PRAX
|
+$194M |
| 2 |
GRAIL Inc
GRAL
|
+$151M |
| 3 |
Insmed
INSM
|
+$127M |
| 4 |
Mirum Pharmaceuticals
MIRM
|
+$42M |
| 5 |
Crinetics Pharmaceuticals
CRNX
|
+$31.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ultragenyx Pharmaceutical
RARE
|
+$63.8M |
| 2 |
Immunocore
IMCR
|
+$51.4M |
| 3 |
Terns Pharmaceuticals
TERN
|
+$38.4M |
| 4 |
BioNTech
BNTX
|
+$25.6M |
| 5 |
BioCryst Pharmaceuticals
BCRX
|
+$22M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 99.57% |
| 2 | Miscellaneous | 0.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
51
Neurogene
NGNE
$473M
| $20M | 0.11% |
991,691
| – | – |
2014 Q1
48 quarters
|
|
52
Evommune Inc
EVMN
$194M
| $19.5M | 0.11% |
+847,390
| New | +$19.2M |
2026 Q1
0 quarters
|
|
53
Tectonic Therapeutic
TECX
$414M
| $18.8M | 0.11% |
607,788
-295,612
| -33% | -$7.27M |
2025 Q1
4 quarters
|
|
54
Contineum Therapeutics
CTNM
$268M
| $18.6M | 0.11% |
1,420,838
| – | – |
2024 Q2
7 quarters
|
|
55
argenx
ARGX
$51.7B
| $18.4M | 0.11% |
25,174
| – | – |
2017 Q2
35 quarters
|
|
56
Cerus
CERS
$449M
| $18.2M | 0.1% |
10,008,345
| – | – |
2013 Q2
51 quarters
|
|
57
Taysha Gene Therapies
TSHA
$1.18B
| $17.9M | 0.1% |
4,004,756
| – | – |
2023 Q3
10 quarters
|
|
58
Aktis Oncology
AKTS
$854M
| $17.8M | 0.1% |
+996,351
| New | +$19.3M |
2026 Q1
0 quarters
|
|
59
Generate Biomedicines
GENB
$1.61B
| $17.8M | 0.1% |
+1,423,602
| New | +$17.4M |
2026 Q1
0 quarters
|
|
60
Sionna Therapeutics
SION
$173M
| $16M | 0.09% |
400,000
| – | – |
2025 Q1
4 quarters
|
|
61
Dyne Therapeutics
DYN
$2.72B
| $14.7M | 0.08% |
813,449
| – | – |
2025 Q4
1 quarter
|
|
62
Xencor
XNCR
$1.74B
| $13.3M | 0.08% |
1,102,106
| – | – |
2022 Q4
13 quarters
|
|
63
Compass Pathways
CMPS
$1.56B
| $13M | 0.07% |
+2,344,720
| New | +$15.8M |
2026 Q1
0 quarters
|
|
64
Relay Therapeutics
RLAY
$3.69B
| $11.5M | 0.07% |
1,160,117
| – | – |
2023 Q1
12 quarters
|
|
65
Sera Prognostics
SERA
$80.9M
| $11.2M | 0.06% |
5,498,170
| – | – |
2021 Q3
18 quarters
|
|
|
66
BioNTech
BNTX
$22.4B
| $10.6M | 0.06% |
119,743
-249,180
| -68% | -$25.6M |
2024 Q4
5 quarters
|
|
67
Pharvaris
PHVS
$2.02B
| $10.6M | 0.06% |
375,000
| – | – |
2025 Q3
2 quarters
|
|
68
Arcus Biosciences
RCUS
$2.81B
| $8.98M | 0.05% |
415,621
+145,621
| +54% | +$3.14M |
2025 Q4
1 quarter
|
|
69
MapLight Therapeutics
MPLT
$438M
| $7.41M | 0.04% |
364,705
| – | – |
2025 Q4
1 quarter
|
|
70
Absci
ABSI
$1.45B
| $6.4M | 0.04% |
2,134,803
| – | – |
2025 Q4
1 quarter
|
|
71
Wave Life Sciences
WVE
$627M
| $5.96M | 0.03% |
822,638
+478,575
| +139% | +$6.23M |
2024 Q3
6 quarters
|
|
72
vTv Therapeutics
VTVT
$109M
| $5.88M | 0.03% |
148,314
| – | – |
2024 Q1
8 quarters
|
|
73
Eikon Therapeutics
EIKN
$400M
| $5.88M | 0.03% |
+555,555
| New | +$7.43M |
2026 Q1
0 quarters
|
|
74
Protara Therapeutics
TARA
$142M
| $5.06M | 0.03% |
971,614
| – | – |
2020 Q1
24 quarters
|
|
75
Sagimet Biosciences
SGMT
$580M
| $4.98M | 0.03% |
952,996
| – | – |
2023 Q3
10 quarters
|
|
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Baker Bros. Advisors's Q1 2026 Portfolio in Review
As of Q1 2026, Baker Bros. Advisors held 93 positions worth $17.4B, up 2% from $17.1B the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Baker Bros. Advisors's Q1 2026 filing shows 8 new, 18 increased, 6 reduced and 9 closed positions. Its largest new stake was Mirum Pharmaceuticals: 445,975 shares worth $41.2M. The largest sale was Ultragenyx Pharmaceutical, an estimated $63.8M.
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 Q1 2026 buy was Mirum Pharmaceuticals: 445,975 shares worth $41.2M.
- Baker Bros. Advisors added most to Praxis Precision Medicines in Q1 2026, an estimated $194M increase.
- Baker Bros. Advisors's biggest Q1 2026 reduction was Immunocore, cutting an estimated $51.4M.
- Baker Bros. Advisors fully exited Ultragenyx Pharmaceutical in Q1 2026, selling an estimated $63.8M.
- Baker Bros. Advisors's ten largest holdings make up 73% of its $17.4B portfolio in Q1 2026.
- Baker Bros. Advisors opened 8 new positions and closed 9 in Q1 2026.
- Baker Bros. Advisors's portfolio value rose 2% quarter-over-quarter to $17.4B.
Based on Baker Bros. Advisors's 13F filing for Q1 2026, filed 15 May 2026.