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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
LBRX
76
LB Pharmaceuticals
LBRX
$1B
$3.16M 0.02%
+200,000
New +$3.17M
VIR icon
77
Vir Biotechnology
VIR
$1.47B
$3.1M 0.02%
542,539
– –
WVE icon
78
Wave Life Sciences
WVE
$1.12B
$2.52M 0.02%
344,063
– –
ELVN icon
79
Enliven Therapeutics
ELVN
$3.78B
$2.35M 0.02%
114,833
– –
TARA icon
80
Protara Therapeutics
TARA
$226M
$2.34M 0.02%
536,832
– –
TECX
81
Tectonic Therapeutic
TECX
$573M
$1.57M 0.01%
100,000
– –
KALA icon
82
KALA BIO
KALA
$11.8M
$1.51M 0.01%
19,702
-4,336
-18% -$2.15M
GBIO
83
DELISTED
Generation Bio
GBIO
$1.19M 0.01%
194,493
-2
-0% -$10
CTNM
84
Contineum Therapeutics
CTNM
$526M
$913K 0.01%
77,670
-234,830
-75% -$1.89M
ALGS icon
85
Aligos Therapeutics
ALGS
$25.2M
$814K 0.01%
83,055
– –
VYNE icon
86
VYNE Therapeutics
VYNE
$340K
$285K ﹤0.01%
+851,353
New +$557K
TYRA icon
87
Tyra Biosciences
TYRA
$1.82B
$148K ﹤0.01%
10,607
– –
ACRV icon
88
Acrivon Therapeutics
ACRV
$68.5M
$41.3K ﹤0.01%
22,809
– –
SRZNW icon
89
Surrozen Inc Warrant
SRZNW
$49.5K
$14.8K ﹤0.01%
833,333
– –
BPMC
90
DELISTED
Blueprint Medicines
BPMC
– –
-125,538
Closed -$16.1M
CADL icon
91
Candel Therapeutics
CADL
$700M
– –
-355,112
Closed -$1.8M
FATE icon
92
Fate Therapeutics
FATE
$281M
– –
-2,485,018
Closed -$2.78M
HOOK
93
DELISTED
HOOKIPA Pharma
HOOK
– –
-812,814
Closed -$1.02M
IGMS
94
DELISTED
IGM Biosciences
IGMS
– –
-4,096,210
Closed -$4.59M
NMRA icon
95
Neumora Therapeutics
NMRA
$276M
– –
-1,034,600
Closed -$759K
RCKT icon
96
Rocket Pharmaceuticals
RCKT
$348M
– –
-552,079
Closed -$1.35M
VERV
97
DELISTED
Verve Therapeutics
VERV
– –
-1,691,530
Closed -$19M
VRNA
98
DELISTED
Verona Pharma
VRNA
– –
-223,843
Closed -$21.2M
OPT
99
DELISTED
Opthea Limited American Depositary Shares
OPT
$0 ﹤0.01%
2,087,320
– –
1 2 3
4

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FCM
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CM
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MCM
MAI Capital Management Independence, Ohio $17.7B AUM 18.87% 1-Year Est. Return
ASRS
Arizona State Retirement System Phoenix, Arizona $17.1B AUM 30.52% 1-Year Est. Return
PP
Prudential plc London, England, United Kingdom $17.1B AUM 15.7% 1-Year Est. Return
VMPIC
Varma Mutual Pension Insurance Co Helsinki, Finland $17B AUM 24.09% 1-Year Est. Return
LA
Linden Advisors New York $17.9B AUM 1.72% 1-Year Est. Return
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.