Funds › Baker Bros. Advisors LP
Baker Bros. Advisors LP
13F for Q2 2026, filed Aug 14, 2026. 83 positions worth $20.0B.Managers with more than $100 million in US-listed stocks list their holdings each quarter, within 45 days of quarter end. Long positions only: no short sales or cash.
Latest report
Q2 2026
filed Aug 14, 2026
Reported value
$20.0B
+$2.5B (14.6%) vs Q1 2026
Positions
83
84 in Q1 2026
Top 10 share
72.8%
of reported value
CheckedEach line's price per share is checked against other managers' reports of the same stock. Unit mix-ups are corrected. Reports no fix can rescue are left out.
Clean
prices match other managers' reports
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Holdings, Q2 2026
Largest first. Common shares only; puts and calls are under All positions.
| # | The fund's own figures at the end of the quarter. A report can be up to 45 days old when it is filed. Options and bonds are not counted here. | Filing | ||||
|---|---|---|---|---|---|---|
| 1 | INCY Incyte Corporation | 30.76M | $3.5B | 17.5% | +0.1% | 13F ↗ |
| 2 | ONC BeOne Medicines Ltd. · ADR | 8.80M | $2.5B | 12.6% | Unchanged | 13F ↗ |
| 3 | RVMD Revolution Medicines, Inc. | 11.44M | $2.1B | 10.7% | +19.8% | 13F ↗ |
| 4 | MDGL Madrigal Pharmaceuticals, Inc. | 2.14M | $1.2B | 5.8% | +0.1% | 13F ↗ |
| 5 | ACAD ACADIA Pharmaceuticals Inc. | 42.91M | $1.1B | 5.4% | Unchanged | 13F ↗ |
| 6 | KYMR Kymera Therapeutics, Inc. | 8.66M | $992.7M | 5.0% | Unchanged | 13F ↗ |
| 7 | INSM Insmed Incorporated · Com Par $.01 | 8.80M | $937.8M | 4.7% | +18.5% | 13F ↗ |
| 8 | CELC Celcuity Inc. | 7.92M | $828.2M | 4.2% | Unchanged | 13F ↗ |
| 9 | KOD Kodiak Sciences Inc | 19.92M | $776.1M | 3.9% | Unchanged | 13F ↗ |
| 10 | RYTM Rhythm Pharmaceuticals, Inc. | 5.60M | $622.3M | 3.1% | Unchanged | 13F ↗ |
| 11 | PRAX Praxis Precision Medicines, Inc. | 1.75M | $587.0M | 2.9% | Unchanged | 13F ↗ |
| 12 | ALKS Alkermes plc | 10.01M | $524.6M | 2.6% | Unchanged | 13F ↗ |
| 13 | SMMT Summit Therapeutics Inc. | 32.79M | $477.7M | 2.4% | -9.9% | 13F ↗ |
| 14 | GRAL GRAIL, Inc. | 4.03M | $275.0M | 1.4% | Unchanged | 13F ↗ |
| 15 | ABCL AbCellera Biologics Inc. | 33.01M | $259.1M | 1.3% | +9.0% | 13F ↗ |
| 16 | IMVT Immunovant, Inc. | 5.44M | $209.4M | 1.0% | -0.4% | 13F ↗ |
| 17 | IDYA IDEAYA Biosciences, Inc. | 5.01M | $186.7M | 0.9% | +26.9% | 13F ↗ |
| 18 | KNSA Kiniksa Pharmaceuticals International, plc | 2.83M | $181.3M | 0.9% | +0.3% | 13F ↗ |
| 19 | ROIV Roivant Sciences Ltd. | 4.72M | $166.9M | 0.8% | -3.1% | 13F ↗ |
| 20 | ARWR Arrowhead Pharmaceuticals, Inc. | 1.99M | $162.4M | 0.8% | Unchanged | 13F ↗ |
| 21 | IONS Ionis Pharmaceuticals, Inc. | 2.05M | $162.4M | 0.8% | Unchanged | 13F ↗ |
| 22 | EWTX Edgewise Therapeutics, Inc. | 3.70M | $150.4M | 0.8% | -43.7% | 13F ↗ |
| 23 | REPL Replimune Group, Inc. | 11.05M | $122.3M | 0.6% | Unchanged | 13F ↗ |
| 24 | NRIX Nurix Therapeutics, Inc. | 4.66M | $113.0M | 0.6% | Unchanged | 13F ↗ |
| 25 | STOK Stoke Therapeutics, Inc. | 3.34M | $109.2M | 0.5% | Unchanged | 13F ↗ |
| 26 | GLUE Monte Rosa Therapeutics, Inc. | 4.35M | $105.2M | 0.5% | Unchanged | 13F ↗ |
| 27 | IMTX Immatics N.V. | 9.51M | $96.3M | 0.5% | -12.9% | 13F ↗ |
| 28 | DNLI Denali Therapeutics Inc. | 3.73M | $96.0M | 0.5% | +0.1% | 13F ↗ |
| 29 | Crinetics Pharmaceuticals In | 2.35M | $88.0M | 0.4% | Unchanged | 13F ↗ |
| 30 | DNTH Dianthus Therapeutics, Inc. | 852,164 | $83.1M | 0.4% | Unchanged | 13F ↗ |
| 31 | GPCR Structure Therapeutics Inc. | 1.43M | $76.9M | 0.4% | Unchanged | 13F ↗ |
| 32 | RAPP Rapport Therapeutics, Inc. | 1.55M | $64.5M | 0.3% | Unchanged | 13F ↗ |
| 33 | ALMS Alumis Inc. | 2.01M | $56.6M | 0.3% | Unchanged | 13F ↗ |
| 34 | PRLD Prelude Therapeutics Incorporated | 10.12M | $54.0M | 0.3% | Unchanged | 13F ↗ |
| 35 | RLAY Relay Therapeutics, Inc. | 2.83M | $52.9M | 0.3% | +144% | 13F ↗ |
| 36 | MIRM Mirum Pharmaceuticals, Inc. | 445,975 | $52.2M | 0.3% | Unchanged | 13F ↗ |
| 37 | BCYC Bicycle Therapeutics plc · ADR | 10.89M | $46.2M | 0.2% | Unchanged | 13F ↗ |
| 38 | ELVN Enliven Therapeutics, Inc. | 905,191 | $45.9M | 0.2% | Unchanged | 13F ↗ |
| 39 | CLDX Celldex Therapeutics, Inc. | 1.18M | $44.0M | 0.2% | +77.7% | 13F ↗ |
| 40 | VRDN Viridian Therapeutics, Inc. | 2.38M | $43.8M | 0.2% | +20.9% | 13F ↗ |
| 41 | DSGN Design Therapeutics, Inc. | 2.68M | $38.8M | 0.2% | +3.6% | 13F ↗ |
| 42 | TRDA Entrada Therapeutics, Inc. | 5.07M | $37.3M | 0.2% | Unchanged | 13F ↗ |
| 43 | FTH Faeth Therapeutics, Inc. | 1.29M | $32.2M | 0.2% | New | 13F ↗ |
| 44 | AKTS Aktis Oncology, Inc. | 996,351 | $32.1M | 0.2% | Unchanged | 13F ↗ |
| 45 | NGNE Neurogene Inc. | 991,691 | $31.2M | 0.2% | Unchanged | 13F ↗ |
| 46 | JBIO Jade Biosciences, Inc. | 1.23M | $27.3M | 0.1% | -25.0% | 13F ↗ |
| 47 | TSHA Taysha Gene Therapies, Inc. | 4.00M | $27.3M | 0.1% | Unchanged | 13F ↗ |
| 48 | RCUS Arcus Biosciences, Inc. | 844,816 | $26.0M | 0.1% | +103% | 13F ↗ |
| 49 | IRON Disc Medicine, Inc. | 349,657 | $25.6M | 0.1% | Unchanged | 13F ↗ |
| 50 | ABSI Absci Corporation | 2.13M | $24.7M | 0.1% | Unchanged | 13F ↗ |
Showing the top 50 of 83 positions. Premium lists every position, plus puts and calls.
Changes since Q1 2026
8 new, 16 added to, 7 trimmed, 9 exited, 52 unchanged. By estimated dollars.
New positions (8)
| FTH Faeth Therapeutics, Inc. | 1.29M | New | $32.2M |
| CYTK Cytokinetics, Incorporated | 211,267 | New | $18.0M |
| NTLA Intellia Therapeutics, Inc. | 930,232 | New | $15.7M |
| PBLS Parabilis Medicines, Inc. | 500,000 | New | $13.7M |
| AVLN Avalyn Pharma Inc. | 350,000 | New | $11.5M |
| TNGX Tango Therapeutics, Inc. | 333,333 | New | $10.4M |
| AVTX Avalo Therapeutics, Inc. | 550,000 | New | $10.2M |
| IMNM Immunome, Inc. | 55,306 | New | $1.2M |
Added to (16)
| RVMD Revolution Medicines, Inc. | 11.44M | +19.8% | $353.6M |
| INSM Insmed Incorporated · Com Par $.01 | 8.80M | +18.5% | $146.6M |
| IDYA IDEAYA Biosciences, Inc. | 5.01M | +26.9% | $39.6M |
| RLAY Relay Therapeutics, Inc. | 2.83M | +144% | $31.2M |
| ABCL AbCellera Biologics Inc. | 33.01M | +9.0% | $21.5M |
| CLDX Celldex Therapeutics, Inc. | 1.18M | +77.7% | $19.2M |
| RCUS Arcus Biosciences, Inc. | 844,816 | +103% | $13.2M |
| VRDN Viridian Therapeutics, Inc. | 2.38M | +20.9% | $7.6M |
| VSTM Verastem, Inc. | 2.50M | +327% | $7.3M |
| INCY Incyte Corporation | 30.76M | +0.1% | $2.0M |
Trimmed (7)
Exited (9)
| ABVX Abivax SA · ADR | 875,796 | Exited | -$97.5M |
| Celcuity Inc Note 2.750% 8/0 | 30.75M | Exited | -$74.9M |
| SYRE Spyre Therapeutics, Inc. | 1.00M | Exited | -$50.4M |
| Centessa Pharmaceuticals plc ADR | 670,751 | Exited | -$26.6M |
| IMCR Immunocore Holdings plc · ADR | 734,397 | Exited | -$22.1M |
| CTNM Contineum Therapeutics, Inc. | 1.42M | Exited | -$18.6M |
| ARGX argenx SE · ADR | 25,174 | Exited | -$18.4M |
| CMPS COMPASS Pathways Plc · ADR | 2.34M | Exited | -$13.0M |
| PHVS Pharvaris N.V. | 375,000 | Exited | -$10.6M |
The 10 largest of each, by estimated dollars: shares changed times the later report's price. Index tracking, splits and mergers move positions too.
All positions
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Reported value by quarter
Value and number of positions at the end of each quarter.
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Largest positions in earlier quarters
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Ten largest positions
By value, Q2 2026.
Filings
Most recent first, up to 80. An amendment can replace a report or add holdings to it. All 13F filings
Information, not investment advice. Values are the fund's own figures at quarter end; a report can be up to 45 days old when filed. Disclaimer