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BAKER BROS. ADVISORS LP

NEW YORK, NY · CIK 0001263508

Portfolio Value: $13.84B
Positions: 91
Period: 2025-09-30
Filed: 2025-11-14
Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023Q3 2023Q2 2023Q1 2023Q4 2022Q3 2022Q2 2022Q1 2022Q4 2021Q3 2021Q2 2021Q1 2021Q4 2020Q3 2020Q2 2020Q1 2020Q4 2019Q3 2019Q2 2019Q1 2019Q4 2018Q3 2018Q2 2018Q1 2018Q4 2017Q3 2017Q2 2017Q1 2017Q4 2016Q3 2016Q2 2016Q1 2016Q4 2015Q3 2015Q2 2015Q1 2015Q4 2014

Portfolio Value

$13.84B

Positions

91

New

8

Increased

18

Decreased

5

Sold Out

390

BAKER BROS. ADVISORS LP Q3 2025 13F Filing Summary

BAKER BROS. ADVISORS LP (NEW YORK, NY) reported a portfolio value of $13.84B across 91 positions in their Q3 2025 SEC 13F filing (period ending 2025-09-30). Top holdings include ONC ($3.00B), INCY ($2.61B), MDGL ($982.31M). The top 10 positions account for 79.1% of the portfolio. This quarter saw 8 new positions, 18 increases, 5 reductions, 390 complete exits. Notable new buys: ABVX ($74.36M), CELC ($40.91M), PHVS ($9.36M). Notable exits: IGMS, FATE, GBIO.

All Holdings

#StockValue↓WeightChange
1
ONCBeOne Medicines Ltd.
SPONSORED ADS
$3.00B
21.66%
-
2
INCYIncyte Corporation
COM
$2.61B
18.84%
+0.0%
3
MDGLMadrigal Pharmaceuticals, Inc.
COM
$982.31M
7.10%
+8.4%
4
INSMInsmed Incorporated
COM PAR $.01
$965.37M
6.98%
-13.1%
5
ACADACADIA Pharmaceuticals Inc.
COM
$915.42M
6.61%
-
6
SMMTSummit Therapeutics Inc.
COM
$696.72M
5.03%
-
7
RYTMRhythm Pharmaceuticals, Inc.
COM
$566.00M
4.09%
-
8
RVMDRevolution Medicines, Inc.
COM
$441.57M
3.19%
+1.0%
9
CELCCelcuity Inc.
COM
$391.04M
2.83%
+45.2%
10
KYMRKymera Therapeutics, Inc.
COM
$376.47M
2.72%
-
11
KODKodiak Sciences Inc.
COM
$283.37M
2.05%
-
12
ALKSAlkermes plc
SHS
$242.74M
1.75%
+26.2%
13
ABCLAbCellera Biologics Inc.
COM
$138.45M
1.00%
-
14
EWTXEdgewise Therapeutics, Inc.
COM
$118.50M
0.86%
-
15
KNSAKiniksa Pharmaceuticals International, plc
ORD SHS CL A
$109.68M
0.79%
-
16
STOKStoke Therapeutics, Inc.
COM
$108.90M
0.79%
-
17
IMTXImmatics N.V.
SHS
$103.04M
0.74%
+18.9%
18
GRALGRAIL, Inc.
COM
$96.39M
0.70%
-
19
IDYAIDEAYA Biosciences, Inc.
COM
$89.12M
0.64%
+54.6%
20
IMVTImmunovant, Inc.
COM
$87.98M
0.64%
-
21
IMCRImmunocore Holdings plc
ADS
$84.38M
0.61%
-
22
BCYCBicycle Therapeutics plc
SPONSORED ADS
$84.25M
0.61%
-
23
RAREUltragenyx Pharmaceutical Inc.
COM
$83.40M
0.60%
-
24
ABVXAbivax S.A.
SPONSORED ADS
$74.36M
0.54%
New
25
ARWRArrowhead Pharmaceuticals, Inc.
COM
$57.62M
0.42%
+77.9%
26
ROIVRoivant Sciences Ltd.
SHS
$57.01M
0.41%
-
27
DNLIDenali Therapeutics Inc.
COM
$54.18M
0.39%
-
28
MRUSMerus N.V.
COM
$54.08M
0.39%
-
29
NTLAIntellia Therapeutics, Inc.
COM
$47.44M
0.34%
+2.7%
30
REPLReplimune Group, Inc.
COM
$46.28M
0.33%
-
31
RAPPRapport Therapeutics, Inc.
COM
$45.95M
0.33%
+181.2%
32
GPCRStructure Therapeutics Inc.
SPONSORED ADS
$43.57M
0.31%
-38.0%
33
CELCCelcuity Inc.
Note 2.75% 8/1/2031
$40.91M
0.30%
New
34
VRDNViridian Therapeutics, Inc.
COM
$37.64M
0.27%
-
35
IONSIonis Pharmaceuticals, Inc.
COM
$37.08M
0.27%
+0.0%
36
PRAXPraxis Precision Medicines, Inc.
COM
$36.54M
0.26%
-
37
GLUEMonte Rosa Therapeutics, Inc.
COM
$36.43M
0.26%
-
38
BNTXBioNTech SE
SPONSORED ADS
$36.38M
0.26%
-
39
NRIXNurix Therapeutics, Inc.
COM
$35.87M
0.26%
-
40
DNTHDianthus Therapeutics, Inc.
COM
$31.08M
0.22%
-
41
TRDAEntrada Therapeutics, Inc.
COM
$28.22M
0.20%
-
42
ARGXargenx SE
SPONSORED ADR
$27.85M
0.20%
-
43
RNAMAvidity Biosciences, Inc.
COM
$27.23M
0.20%
+0.0%
44
PCVXVaxcyte, Inc.
COM
$23.08M
0.17%
-
45
IRONDisc Medicine, Inc.
COM
$22.27M
0.16%
-
46
CDTXCidara Therapeutics, Inc.
COM
$21.76M
0.16%
-
47
CLDXCelldex Therapeutics, Inc.
COM
$17.21M
0.12%
-
48
NGNENeurogene Inc.
COM
$17.19M
0.12%
-
49
SERASera Prognostics, Inc.
CLASS A COM
$16.82M
0.12%
-
50
THCHSpyre Therapeutics, Inc.
COM
$16.76M
0.12%
+59.6%
Showing 1-50 of 91

Position Changes

StockValueShares
ABVXAbivax S.A.
$74.36M875,796
CELCCelcuity Inc.
$40.91M30,750,000
PHVSPharvaris N.V.
$9.36M375,000
MBXMBX Biosciences, Inc.
$4.86M277,777
VTYXVentyx Biosciences, Inc.
$3.18M1,023,130
LBRXLB Pharmaceuticals Inc.
$3.16M200,000
GBIOGeneration Bio Co.
$1.19M194,493
VYNEVYNE Therapeutics Inc.
$285.20K851,353