Baker Bros. Advisors
Baker Bros. Advisors’s latest 13F equity portfolio, straight from the SEC filing on August 14, 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 52% of the reported book.
- Largest position is INCY at 17.5% of the book.
- Opened 8 new positions last quarter, the biggest being FTH.
- Net buyer among existing holdings: added to 4 and trimmed 3.
- Mixed by size: 60% of measurable value sits in $10B+ companies.
- 1
$INCYIncyte Corporation$3.49B17.5% of book
- 2
$ONCBeone Medicines Ltd.$2.51B12.6% of book
- 3
$RVMDRevolution Medicines, Inc.$2.14B10.8% of book
- 4
$MDGLMadrigal Pharmaceuticals, Inc.$1.15B5.8% of book
- 5
$ACADAcadia Pharmaceuticals Inc.$1.09B5.5% of book
- 6
$KYMRKymera Therapeutics, Inc.$993M5.0% of book
- 7
$INSMInsmed Incorporated$938M4.7% of book
- 8
$CELCCelcuity Inc.$828M4.2% of book
- 9
$KODKodiak Sciences Inc.$776M3.9% of book
- 10
$RYTMRhythm Pharmaceuticals, Inc.$622M3.1% of book
- 11
$PRAXPraxis Precision Medicines, Inc.$587M3.0% of book
- 12
$ALKSAlkermes Plc$525M2.6% of book
- 13
$SMMTSummit Therapeutics Inc.$478M2.4% of book
- 14
$GRALGrail, Inc.$275M1.4% of book
- 15
$ABCLAbcellera Biologics Inc.$259M1.3% of book
- 16
$IMVTImmunovant, Inc.$209M1.1% of book
- 17
$IDYAAdded +27%Ideaya Biosciences, Inc.$187M0.9% of book
- 18
$KNSAKiniksa Pharmaceuticals International, Plc$181M0.9% of book
- 19
$ROIVRoivant Sciences Ltd.$167M0.8% of book
- 20
$ARWRArrowhead Pharmaceuticals, Inc.$162M0.8% of book
- 21
$IONSIonis Pharmaceuticals, Inc.$162M0.8% of book
- 22
$EWTXTrimmedEdgewise Therapeutics, Inc.$150M0.8% of book
- 23
$REPLReplimune Group, Inc.$122M0.6% of book
- 24
$NRIXNurix Therapeutics, Inc.$113M0.6% of book
- 25
$STOKStoke Therapeutics, Inc.$109M0.5% of book
- 26
$GLUEMonte Rosa Therapeutics, Inc.$105M0.5% of book
- 27
$IMTXImmatics N.V.$96M0.5% of book
- 28
$DNLIDenali Therapeutics Inc.$96M0.5% of book
- 29
$CRNXCrinetics Pharmaceuticals, Inc.$88M0.4% of book
- 30
$DNTHDianthus Therapeutics, Inc.$83M0.4% of book
- 31
$GPCRStructure Therapeutics Inc.$77M0.4% of book
- 32
$RAPPRapport Therapeutics, Inc.$64M0.3% of book
- 33
$ALMSAlumis Inc.$57M0.3% of book
- 34
$PRLDPrelude Therapeutics Inc.$54M0.3% of book
- 35
$RLAYAdded +144%Relay Therapeutics, Inc.$53M0.3% of book
- 36
$MIRMMirum Pharmaceuticals, Inc.$52M0.3% of book
- 37
$BCYCBicycle Therapeutics Plc$46M0.2% of book
- 38
$ELVNEnliven Therapeutics, Inc.$46M0.2% of book
- 39
$CLDXAdded +78%Celldex Therapeutics, Inc.$44M0.2% of book
- 40
$VRDNViridian Therapeutics, Inc.$44M0.2% of book
- 41
$DSGNDesign Therapeutics, Inc.$39M0.2% of book
- 42
$TRDAEntrada Therapeutics, Inc.$37M0.2% of book
- 43
$FTHNewFaeth Therapeutics, Inc.$32M0.2% of book
- 44
$AKTSAktis Oncology, Inc.$32M0.2% of book
- 45
$NGNENeurogene Inc.$31M0.2% of book
- 46
$JBIOTrimmedJade Biosciences, Inc.$27M0.1% of book
- 47
$TSHATaysha Gene Therapies, Inc.$27M0.1% of book
- 48
$RCUSAdded +103%Arcus Biosciences, Inc.$26M0.1% of book
- 49
$IRONDisc Medicine, Inc.$26M0.1% of book
- 50
$ABSIAbsci Corporation$25M0.1% of book
- 51
$GENBGenerate Biomedicines, Inc.$24M0.1% of book
- 52
$DBVTDbv Technologies S.A.$24M0.1% of book
- 53
$XENEXenon Pharmaceuticals Inc.$22M0.1% of book
- 54
$TECXTectonic Therapeutic, Inc.$21M0.1% of book
- 55
$CERSTrimmedCerus Corporation$19M0.1% of book
- 56
$CTMXCytomx Therapeutics, Inc.$19M0.1% of book
- 57
$DYNDyne Therapeutics, Inc.$18M0.1% of book
- 58
$CYTKNewCytokinetics, Incorporated$18M0.1% of book
- 59
$XNCRXencor, Inc.$18M0.1% of book
- 60
$SIONSionna Therapeutics, Inc.$18M0.1% of book
Updated Aug 28, 8:30 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 $19.9B in the latest 13F filed August 14, 2026. The largest by value are INCY, ONC, RVMD, MDGL, ACAD, KYMR, INSM and CELC. The full ranked list is on this page.
What is Baker Bros. Advisors's biggest holding?
INCY is the largest reported position at $3.5B, about 17.5% of the reported book, held as 30,762,330 shares.
What did Baker Bros. Advisors buy recently?
Baker Bros. Advisors opened 8 new positions in the latest quarter. The largest new buys were FTH and CYTK. Baker Bros. Advisors also added to 4 existing positions, including IDYA, RLAY, CLDX and RCUS.
What did Baker Bros. Advisors sell recently?
Baker Bros. Advisors reduced 3 reported positions last quarter, the largest of them being EWTX, JBIO and CERS. 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 4 positions and trimmed 3, 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 August 14, 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.