Baker Bros. Advisors
Baker Bros. Advisors’s latest 13F equity portfolio, straight from the SEC filing on May 15, 2026. Positions are ranked by size; the ones Baker Bros. Advisors opened or added to this quarter are flagged. This is what a 13F shows: reported long U.S. equity positions as of the quarter-end. It is not the full picture and it is not advice.
How Baker Bros. Advisors invests
Derived from the 13F filing itself, not commentary.
- Moderately concentrated: the top 5 positions are 51% of the reported book.
- Largest position is INCY at 16.7% of the book.
- Opened 7 new positions last quarter, the biggest being MIRM.
- Net buyer among existing holdings: added to 5 and trimmed 2.
- Mixed by size: 57% of measurable value sits in $10B+ companies.
- 1
$INCYIncyte Corporation$2.89B16.7% of book
- 2
$ONCBeone Medicines Ltd.$2.61B15.1% of book
- 3
$INSMInsmed Incorporated$1.21B7.0% of book
- 4
$MDGLMadrigal Pharmaceuticals, Inc.$1.12B6.5% of book
- 5
$ACADAcadia Pharmaceuticals Inc.$955M5.5% of book
- 6
$RVMDRevolution Medicines, Inc.$929M5.4% of book
- 7
$CELCCelcuity Inc.$904M5.2% of book
- 8
$KODKodiak Sciences Inc.$759M4.4% of book
- 9
$KYMRKymera Therapeutics, Inc.$721M4.2% of book
- 10
$SMMTSummit Therapeutics Inc.$690M4.0% of book
- 11
$PRAXAdded +56%Praxis Precision Medicines, Inc.$565M3.3% of book
- 12
$RYTMRhythm Pharmaceuticals, Inc.$487M2.8% of book
- 13
$ALKSAlkermes Plc$354M2.0% of book
- 14
$GRALAdded +93%Grail, Inc.$208M1.2% of book
- 15
$EWTXEdgewise Therapeutics, Inc.$207M1.2% of book
- 16
$IONSIonis Pharmaceuticals, Inc.$154M0.9% of book
- 17
$KNSAKiniksa Pharmaceuticals International, Plc$136M0.8% of book
- 18
$IMVTImmunovant, Inc.$136M0.8% of book
- 19
$ROIVRoivant Sciences Ltd.$135M0.8% of book
- 20
$IDYAIdeaya Biosciences, Inc.$131M0.8% of book
- 21
$ARWRArrowhead Pharmaceuticals, Inc.$125M0.7% of book
- 22
$STOKStoke Therapeutics, Inc.$109M0.6% of book
- 23
$IMTXImmatics N.V.$107M0.6% of book
- 24
$ABCLAbcellera Biologics Inc.$106M0.6% of book
- 25
$ABVXAbivax S.A.$98M0.6% of book
- 26
$CRNXAdded +43%Crinetics Pharmaceuticals, Inc.$85M0.5% of book
- 27
$REPLReplimune Group, Inc.$84M0.5% of book
- 28
$NRIXNurix Therapeutics, Inc.$72M0.4% of book
- 29
$DNLIDenali Therapeutics Inc.$72M0.4% of book
- 30
$DNTHDianthus Therapeutics, Inc.$72M0.4% of book
- 31
$GLUEMonte Rosa Therapeutics, Inc.$71M0.4% of book
- 32
$GPCRStructure Therapeutics Inc.$69M0.4% of book
- 33
$TRDAEntrada Therapeutics, Inc.$64M0.4% of book
- 34
$BCYCBicycle Therapeutics Plc$51M0.3% of book
- 35
$SYRESpyre Therapeutics, Inc.$50M0.3% of book
- 36
$RAPPRapport Therapeutics, Inc.$48M0.3% of book
- 37
$ALMSAdded +29%Alumis Inc.$44M0.3% of book
- 38
$MIRMNewMirum Pharmaceuticals, Inc.$41M0.2% of book
- 39
$VRDNViridian Therapeutics, Inc.$39M0.2% of book
- 40
$ELVNAdded +234%Enliven Therapeutics, Inc.$35M0.2% of book
- 41
$PRLDPrelude Therapeutics Inc.$35M0.2% of book
- 42
$DBVTDbv Technologies S.A.$31M0.2% of book
- 43
$DSGNDesign Therapeutics, Inc.$28M0.2% of book
- 44Centessa Pharmaceuticals PlcCentessa Pharmaceuticals Plc$27M0.2% of book
- 45
$CTMXCytomx Therapeutics, Inc.$23M0.1% of book
- 46
$JBIOJade Biosciences, Inc.$23M0.1% of book
- 47
$IRONDisc Medicine, Inc.$22M0.1% of book
- 48
$IMCRTrimmedImmunocore Holdings Plc$22M0.1% of book
- 49
$XENEXenon Pharmaceuticals Inc.$22M0.1% of book
- 50
$CLDXCelldex Therapeutics, Inc.$21M0.1% of book
- 51
$NGNENeurogene Inc.$20M0.1% of book
- 52
$EVMNNewEvommune, Inc.$19M0.1% of book
- 53
$TECXTrimmedTectonic Therapeutic, Inc.$19M0.1% of book
- 54
$CTNMContineum Therapeutics, Inc.$19M0.1% of book
- 55
$ARGXArgenx Se$18M0.1% of book
- 56
$CERSCerus Corporation$18M0.1% of book
- 57
$TSHATaysha Gene Therapies, Inc.$18M0.1% of book
- 58
$AKTSNewAktis Oncology, Inc.$18M0.1% of book
- 59
$GENBNewGenerate Biomedicines, Inc.$18M0.1% of book
- 60
$SIONSionna Therapeutics, Inc.$16M0.1% of book
Updated Aug 6, 12:30 PM. Sourced from SEC EDGAR 13F filings. Showing the top 60 positions by value.
Common questions about Baker Bros. Advisors
What stocks does Baker Bros. Advisors own?
Baker Bros. Advisors reported 83 equity positions worth $17.3B in the latest 13F filed May 15, 2026. The largest by value are INCY, ONC, INSM, MDGL, ACAD, RVMD, CELC and KOD. The full ranked list is on this page.
What is Baker Bros. Advisors's biggest holding?
INCY is the largest reported position at $2.9B, about 16.7% of the reported book, held as 30,744,412 shares.
What did Baker Bros. Advisors buy recently?
Baker Bros. Advisors opened 7 new positions in the latest quarter. The largest new buys were MIRM, EVMN, AKTS and GENB. Baker Bros. Advisors also added to 5 existing positions, including PRAX, GRAL, CRNX and ALMS.
What did Baker Bros. Advisors sell recently?
Baker Bros. Advisors reduced 2 reported positions last quarter, the largest of them being IMCR and TECX. Note that a position exited completely stops appearing in the 13F entirely, so full exits show up as a name disappearing rather than as a sale.
Is Baker Bros. Advisors buying or selling right now?
Across the reported book, Baker Bros. Advisors added to 5 positions and trimmed 2, which makes the latest quarter a net buying one. "Right now" is the important caveat: a 13F is a snapshot as of the quarter end, filed up to 45 days later, so it shows what was held then, not what is held today.
What fund does Baker Bros. Advisors run?
The filings on this page come from Baker Bros. Advisors, SEC CIK 1263508. That is the entity that files the 13F, which is why holdings are reported under the firm name rather than the person's name.
Is this Baker Bros. Advisors's current portfolio?
No. It is the most recent one that has been publicly filed. Institutional managers report holdings quarterly on Form 13F, as of the last day of the quarter, with up to 45 days to file. This page reflects the filing dated May 15, 2026 and updates automatically when the next one hits SEC EDGAR.
Does this show Baker Bros. Advisors's short positions or options?
Mostly no. A 13F covers reported long U.S. exchange-traded equity positions and some equity options and convertibles. Short positions are not disclosed, and neither are bonds, cash, commodities, currencies, or foreign-listed holdings. A manager with a large short book or heavy non-equity exposure can look very different in a 13F than in reality.
How do I track Baker Bros. Advisors's next moves?
This page rebuilds straight from SEC EDGAR, so the next 13F appears here as soon as it is filed. New stakes disclosed between quarters on Schedule 13D and 13G show up on the Smart Money page ahead of the next 13F, because those filings are due within days of crossing a 5% ownership threshold rather than at quarter end.