Data as of Q4 2025 (Dec 31, 2025)

BAKER BROS. ADVISORS LP

•CIK: 1263508•Filing: Q4 2025

Baker Bros. Advisors LP, helmed by the seasoned duo of John Baker and his son, Mark Baker, manages $17.1 billion with a focus on biotech and healthcare, evident in top holdings like Incyte and OncoCyte. Recently, the fund has made notable moves by adding TECX and PRAX, up 1101% and 809% respectively, while exiting VYLD and NTLA, reflecting a strategy of capitalizing on high-growth potential in emerging biotech sectors.

Total AUM
$17.0B
QoQ Performance
+23.3%
Positions
85
Top 10 Concentration
74.7%
Latest Filing
Q4 2025

Top Holdings Allocation

INCY
ONC
MDGL
IM8N
ACAD
INCY17.8%
ONC15.7%
MDGL7.3%
IM8N6.7%
ACAD6.7%
CELC4.6%
RVMD4.4%
KYMR4.0%

📈 Biggest Buys

KYMR
Kymera Therapeutics, Inc.
+30.2%
4.0% of portfolio
PRAX
Praxis Precision Medicines, Inc.
+63.4%
2.0% of portfolio
ISI
Ionis Pharmaceuticals, Inc.
+216.1%
0.8% of portfolio
KOD
Kodiak Sciences Inc.
+15.1%
3.3% of portfolio
CRNX
Crinetics Pharmaceuticals, Inc.
+488.9%
0.5% of portfolio

📉 Biggest Sells

STOK
Stoke Therapeutics, Inc.
-28.0%
0.6% of portfolio
IM8N
Insmed Incorporated
-1.7%
6.7% of portfolio
EWTX
Edgewise Therapeutics, Inc.
-10.0%
1.0% of portfolio
ARGX
argenx SE
-33.3%
0.1% of portfolio
GLUE
Monte Rosa Therapeutics, Inc.
-11.6%
0.4% of portfolio

Sector Breakdown

Other100.0%

🚪 Exited Positionssold since Q3 2025

2GH
Merus N.V.
SOLD
$54.1M
NTLA
Intellia Therapeutics, Inc.
SOLD
$47.4M
RNAGBP
Avidity Biosciences, Inc.
SOLD
$27.2M
PCVX
Vaxcyte, Inc.
SOLD
$23.1M
CDTX
Cidara Therapeutics, Inc.
SOLD
$21.8M
+8 more exited positions

Changes from Q3 2025

NEW9 new positions
↑23 increased
↓7 decreased

Historical Filings

Q4 2025Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024Q1 2024Q4 2023

📌 Top Holdings

INCY17.8%
Incyte Corporation
$3.0B
ONC15.7%
BeOne Medicines Ltd.
$2.7B
MDGL7.3%
Madrigal Pharmaceuticals, Inc.
$1.2B
IM8N6.7%
Insmed Incorporated
$1.1B
ACAD6.7%
ACADIA Pharmaceuticals Inc.
$1.1B

⚖️ Compare Fund

Compare this fund's holdings with other hedge funds.

🎯 Fund Movement Signals

See AI-analyzed fund movement signals and accumulation patterns.

👤 Insider Trading

See what corporate insiders are buying and selling.