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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
+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
Cap. Flow
+$511M
Cap. Flow %
2.93%
Top 10 Hldgs %
73.49%
Holding
93
New
8
Increased
18
Reduced
6
Closed
9
Avg Time Held
14 quarters
Top 10 Avg Time Held
18.5 quarters
Top 20 Avg Time Held
12.8 quarters

Top Buys

Rank Stock Value
1
PRAX icon
Praxis Precision Medicines
PRAX
+$194M
2
GRAL icon
GRAIL Inc
GRAL
+$151M
3
INSM icon
Insmed
INSM
+$127M
4
MIRM icon
Mirum Pharmaceuticals
MIRM
+$42M
5
CRNX icon
Crinetics Pharmaceuticals
CRNX
+$31.4M

Top Sells

Rank Stock Value
1
RARE icon
Ultragenyx Pharmaceutical
RARE
+$63.8M
2
IMCR icon
Immunocore
IMCR
+$51.4M
3
TERN icon
Terns Pharmaceuticals
TERN
+$38.4M
4
BNTX icon
BioNTech
BNTX
+$25.6M
5
BCRX icon
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
INCY icon
1
Incyte
INCY
$22.9B
$2.89B 16.62%
30,744,412
+421
+0% +$42K
2013 Q2
51 quarters
ONC icon
2
BeOne Medicines Ltd
ONC
$40.1B
$2.61B 15%
8,799,053
– –
2016 Q1
40 quarters
INSM icon
3
Insmed
INSM
$22B
$1.21B 6.97%
7,421,111
+828,365
+13% +$127M
2013 Q2
51 quarters
MDGL icon
4
Madrigal Pharmaceuticals
MDGL
$10.9B
$1.12B 6.44%
2,141,701
– –
2016 Q2
39 quarters
ACAD icon
5
Acadia Pharmaceuticals
ACAD
$3.41B
$955M 5.48%
42,896,690
– –
2013 Q2
51 quarters
RVMD icon
6
Revolution Medicines
RVMD
$40.7B
$929M 5.34%
9,555,357
+100,000
+1% +$10.1M
2021 Q1
20 quarters
CELC icon
7
Celcuity
CELC
$3.32B
$904M 5.19%
7,915,792
– –
2023 Q3
10 quarters
KOD icon
8
Kodiak Sciences
KOD
$6.28B
$759M 4.36%
19,919,186
– –
2018 Q4
29 quarters
KYMR icon
9
Kymera Therapeutics
KYMR
$9.35B
$721M 4.14%
8,657,242
– –
2020 Q3
22 quarters
SMMT icon
10
Summit Therapeutics
SMMT
$14B
$690M 3.96%
36,391,063
– –
2024 Q2
7 quarters
PRAX icon
11
Praxis Precision Medicines
PRAX
$7.26B
$565M 3.24%
1,753,198
+626,710
+56% +$194M
2022 Q4
13 quarters
RYTM icon
12
Rhythm Pharmaceuticals
RYTM
$6.25B
$487M 2.8%
5,604,483
– –
2017 Q4
33 quarters
ALKS icon
13
Alkermes
ALKS
$6.81B
$354M 2.03%
10,012,267
– –
2024 Q2
7 quarters
GRAL icon
14
GRAIL Inc
GRAL
$6.28B
$208M 1.2%
4,028,614
+1,943,281
+93% +$151M
2024 Q4
5 quarters
EWTX icon
15
Edgewise Therapeutics
EWTX
$4.24B
$207M 1.19%
6,575,940
– –
2021 Q1
20 quarters
IONS icon
16
Ionis Pharmaceuticals
IONS
$7.52B
$154M 0.88%
2,047,727
+255,886
+14% +$20.2M
2025 Q3
2 quarters
KNSA icon
17
Kiniksa Pharmaceuticals
KNSA
$6.22B
$136M 0.78%
2,826,246
– –
2018 Q2
31 quarters
IMVT icon
18
Immunovant
IMVT
$6.29B
$136M 0.78%
5,457,881
– –
2023 Q3
10 quarters
ROIV icon
19
Roivant Sciences
ROIV
$25.6B
$135M 0.77%
4,867,723
-687,294
-12% -$17.7M
2022 Q4
13 quarters
IDYA icon
20
IDEAYA Biosciences
IDYA
$3.48B
$131M 0.76%
3,946,515
+327,689
+9% +$11M
2022 Q3
14 quarters
ARWR icon
21
Arrowhead Research
ARWR
$8.86B
$125M 0.72%
1,992,783
-182,862
-8% -$11.6M
2025 Q2
3 quarters
STOK icon
22
Stoke Therapeutics
STOK
$1.6B
$109M 0.62%
3,336,697
– –
2022 Q3
14 quarters
IMTX icon
23
Immatics
IMTX
$1.13B
$107M 0.62%
10,916,693
-1,177,401
-10% -$11.5M
2020 Q1
24 quarters
ABCL icon
24
AbCellera Biologics
ABCL
$4.06B
$106M 0.61%
30,275,938
+2,750,298
+10% +$9.9M
2020 Q4
21 quarters
ABVX icon
25
Abivax
ABVX
$7.69B
$97.5M 0.56%
875,796
– –
2025 Q3
2 quarters
1
2 3 4

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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.