13F holdings
BAKER BROS. ADVISORS LP portfolio
Managed by . 84 reported positions worth $17.4B as of 2026-03-31, filed with the SEC on 2026-05-15. Parsed from the filing itself, not a reseller.
$17.4B
Book value
84
Positions
73%
Top 10 weight
+7
New this quarter
-9
Exited
134 days
Age today
How old this actually is
Every position on this page is a snapshot of 2026-03-31. It was already 45 days old on 2026-05-15, the day it first became public. Today it is 134 days old.
That lag is the law, not a service level — Rule 13f-1 gives managers 45 days after quarter end to file, and no product can shorten it. A fund can have sold every share below before you read this sentence. Treat it as a record of what happened, never as a position you can follow.
What changed
Positions opened and closed
Against its 2025-12-31 filing. This is the part worth reading — the holdings table below is mostly years old.
New positions (7)
| Ticker | Issuer | Value | Shares | % of book |
|---|---|---|---|---|
| MIRM | Mirum Pharmaceuticals, Inc. | $41.2M | 445,975 | 0.24% |
| EVMN | Evommune, Inc. | $19.5M | 847,390 | 0.11% |
| AKTS | Aktis Oncology, Inc. | $17.8M | 996,351 | 0.10% |
| GENB | Generate Biomedicines, Inc. | $17.8M | 1,423,602 | 0.10% |
| CMPS | COMPASS Pathways plc | $13.0M | 2,344,720 | 0.07% |
| EIKN | Eikon Therapeutics, Inc. | $5.9M | 555,555 | 0.03% |
| VSTM | Verastem, Inc. | $3.1M | 584,757 | 0.02% |
Closed out (9)
| Ticker | Issuer | Was worth | Shares | % of book |
|---|---|---|---|---|
| RARE | Ultragenyx Pharmaceutical Inc. | $63.8M | 2,772,692 | 0.00% |
| 430 | Terns Pharmaceuticals, Inc. | $38.4M | 950,000 | 0.00% |
| BCRX | BioCryst Pharmaceuticals, Inc. | $22.0M | 2,822,727 | 0.00% |
| VTYXUSD | Ventyx Biosciences, Inc. | $21.2M | 2,349,280 | 0.00% |
| Nuvalent, Inc. | Nuvalent, Inc. | $14.5M | 143,937 | 0.00% |
| FDMT | 4D Molecular Therapeutics, Inc. | $3.6M | 475,737 | 0.00% |
| VIR | Vir Biotechnology, Inc. | $3.3M | 542,539 | 0.00% |
| KALAEUR | KALA BIO, Inc. | $1.0M | 1,804,055 | 0.00% |
| ACRV | Acrivon Therapeutics, Inc. | $54,970 | 22,809 | 0.00% |
Added to (17)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| INSM | Insmed Incorporated | $1.2B | 7,421,111 | 6.97% | +13% |
| RVMD | Revolution Medicines, Inc. | $929.3M | 9,555,357 | 5.34% | +1% |
| PRAX | Praxis Precision Medicines, Inc. | $564.9M | 1,753,198 | 3.24% | +56% |
| GRAL | GRAIL, Inc. | $208.2M | 4,028,614 | 1.20% | +93% |
| IONS | Ionis Pharmaceuticals, Inc. | $153.8M | 2,047,727 | 0.88% | +14% |
| IDYA | IDEAYA Biosciences, Inc. | $131.5M | 3,946,515 | 0.76% | +9% |
| ABCL | AbCellera Biologics Inc. | $105.7M | 30,275,938 | 0.61% | +10% |
| CRNX | Crinetics Pharmaceuticals, Inc. | $85.4M | 2,351,465 | 0.49% | +43% |
| DNTH | Dianthus Therapeutics, Inc. | $71.5M | 852,164 | 0.41% | +8% |
| ALMS | Alumis Inc. | $44.3M | 2,012,500 | 0.25% | +29% |
| ELVN | Enliven Therapeutics, Inc. | $35.5M | 905,191 | 0.20% | +234% |
| DSGN | Design Therapeutics, Inc. | $27.5M | 2,585,978 | 0.16% | +16% |
| CTMX | CytomX Therapeutics, Inc. | $23.4M | 4,975,826 | 0.13% | +17% |
| IRON | Disc Medicine, Inc. | $22.4M | 349,657 | 0.13% | +4% |
| RCUS | Arcus Biosciences, Inc. | $9.0M | 415,621 | 0.05% | +54% |
Trimmed (6)
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| IMCR | Immunocore Holdings plc | $22.1M | 734,397 | 0.13% | -68% |
| BNTX | BioNTech SE | $10.6M | 119,743 | 0.06% | -68% |
| TECX | Tectonic Therapeutic, Inc. | $18.8M | 607,788 | 0.11% | -33% |
| ROIV | Roivant Sciences Ltd. | $134.8M | 4,867,723 | 0.77% | -12% |
| Immatics N.V. | Immatics N.V. | $107.4M | 10,916,693 | 0.62% | -10% |
| ARWR | Arrowhead Pharmaceuticals, Inc. | $124.9M | 1,992,783 | 0.72% | -8% |
The book
All reported holdings
| Ticker | Issuer | Value | Shares | % of book | Shares Δ |
|---|---|---|---|---|---|
| INCY | Incyte Corporation | $2.9B | 30,744,412 | 16.62% | — |
| ONC | BeOne Medicines Ltd. | $2.6B | 8,799,053 | 15.00% | — |
| INSM | Insmed Incorporated | $1.2B | 7,421,111 | 6.97% | — |
| MDGL | Madrigal Pharmaceuticals, Inc. | $1.1B | 2,141,701 | 6.44% | — |
| ACAD | ACADIA Pharmaceuticals Inc. | $954.9M | 42,896,690 | 5.48% | — |
| RVMD | Revolution Medicines, Inc. | $929.3M | 9,555,357 | 5.34% | — |
| CELC | Celcuity Inc. | $903.5M | 7,915,792 | 5.19% | — |
| KOD | Kodiak Sciences Inc. | $759.3M | 19,919,186 | 4.36% | — |
| KYMR | Kymera Therapeutics, Inc. | $721.1M | 8,657,242 | 4.14% | — |
| SMMT | Summit Therapeutics Inc. | $690.0M | 36,391,063 | 3.96% | — |
| PRAX | Praxis Precision Medicines, Inc. | $564.9M | 1,753,198 | 3.24% | — |
| RYTM | Rhythm Pharmaceuticals, Inc. | $487.4M | 5,604,483 | 2.80% | — |
| ALKS | Alkermes plc | $354.0M | 10,012,267 | 2.03% | — |
| GRAL | GRAIL, Inc. | $208.2M | 4,028,614 | 1.20% | — |
| EWTX | Edgewise Therapeutics, Inc. | $207.1M | 6,575,940 | 1.19% | — |
| IONS | Ionis Pharmaceuticals, Inc. | $153.8M | 2,047,727 | 0.88% | — |
| KNSA | Kiniksa Pharmaceuticals Internatio | $136.1M | 2,826,246 | 0.78% | — |
| IMVT | Immunovant, Inc. | $135.6M | 5,457,881 | 0.78% | — |
| ROIV | Roivant Sciences Ltd. | $134.8M | 4,867,723 | 0.77% | — |
| IDYA | IDEAYA Biosciences, Inc. | $131.5M | 3,946,515 | 0.76% | — |
| ARWR | Arrowhead Pharmaceuticals, Inc. | $124.9M | 1,992,783 | 0.72% | — |
| STOK | Stoke Therapeutics, Inc. | $108.6M | 3,336,697 | 0.62% | — |
| Immatics N.V. | Immatics N.V. | $107.4M | 10,916,693 | 0.62% | — |
| ABCL | AbCellera Biologics Inc. | $105.7M | 30,275,938 | 0.61% | — |
| ABVX | Abivax S.A. | $97.5M | 875,796 | 0.56% | — |
| CRNX | Crinetics Pharmaceuticals, Inc. | $85.4M | 2,351,465 | 0.49% | — |
| REPL | Replimune Group, Inc. | $84.5M | 11,045,336 | 0.49% | — |
| CELC 2.75 08/01/31 | Celcuity Inc. | $74.9M | 30,750,000 | 0.43% | — |
| NRIX | Nurix Therapeutics, Inc. | $72.2M | 4,658,556 | 0.41% | — |
| DNLI | Denali Therapeutics Inc. | $71.6M | 3,731,695 | 0.41% | — |
| DNTH | Dianthus Therapeutics, Inc. | $71.5M | 852,164 | 0.41% | — |
| GLUE | Monte Rosa Therapeutics, Inc. | $71.5M | 4,345,736 | 0.41% | — |
| GPCR | Structure Therapeutics Inc. | $69.0M | 1,432,529 | 0.40% | — |
| TRDA | Entrada Therapeutics, Inc. | $64.0M | 5,072,730 | 0.37% | — |
| BCYC | Bicycle Therapeutics plc | $50.5M | 10,885,357 | 0.29% | — |
| SYRE | Spyre Therapeutics, Inc. | $50.4M | 1,000,000 | 0.29% | — |
| RAPP | Rapport Therapeutics, Inc. | $48.4M | 1,547,090 | 0.28% | — |
| ALMS | Alumis Inc. | $44.3M | 2,012,500 | 0.25% | — |
| MIRM | Mirum Pharmaceuticals, Inc. | $41.2M | 445,975 | 0.24% | — |
| VRDN | Viridian Therapeutics, Inc. | $38.6M | 1,971,678 | 0.22% | — |
| ELVN | Enliven Therapeutics, Inc. | $35.5M | 905,191 | 0.20% | — |
| PRLD | Prelude Therapeutics Inc. | $34.6M | 10,123,824 | 0.20% | — |
| DBVT | DBV Technologies S.A. | $30.5M | 1,461,425 | 0.18% | — |
| DSGN | Design Therapeutics, Inc. | $27.5M | 2,585,978 | 0.16% | — |
| 260 | Centessa Pharmaceuticals plc | $26.6M | 670,751 | 0.15% | — |
| CTMX | CytomX Therapeutics, Inc. | $23.4M | 4,975,826 | 0.13% | — |
| JBIO | Jade Biosciences, Inc. | $23.1M | 1,641,137 | 0.13% | — |
| IRON | Disc Medicine, Inc. | $22.4M | 349,657 | 0.13% | — |
| IMCR | Immunocore Holdings plc | $22.1M | 734,397 | 0.13% | — |
| XENE | Xenon Pharmaceuticals Inc. | $21.5M | 370,208 | 0.12% | — |
| CLDX | Celldex Therapeutics, Inc. | $21.1M | 665,370 | 0.12% | — |
| NGNE | Neurogene Inc. | $20.0M | 991,691 | 0.11% | — |
| EVMN | Evommune, Inc. | $19.5M | 847,390 | 0.11% | — |
| TECX | Tectonic Therapeutic, Inc. | $18.8M | 607,788 | 0.11% | — |
| CTNM | Contineum Therapeutics, Inc. | $18.6M | 1,420,838 | 0.11% | — |
| ARGX | argenx SE | $18.4M | 25,174 | 0.11% | — |
| CERS | Cerus Corporation | $18.2M | 10,008,345 | 0.10% | — |
| TSHA | Taysha Gene Therapies, Inc. | $17.9M | 4,004,756 | 0.10% | — |
| AKTS | Aktis Oncology, Inc. | $17.8M | 996,351 | 0.10% | — |
| GENB | Generate Biomedicines, Inc. | $17.8M | 1,423,602 | 0.10% | — |
| SION | Sionna Therapeutics, Inc. | $16.0M | 400,000 | 0.09% | — |
| DYN | Dyne Therapeutics, Inc. | $14.7M | 813,449 | 0.08% | — |
| XNCR | Xencor, Inc. | $13.3M | 1,102,106 | 0.08% | — |
| CMPS | COMPASS Pathways plc | $13.0M | 2,344,720 | 0.07% | — |
| RLAY | Relay Therapeutics, Inc. | $11.5M | 1,160,117 | 0.07% | — |
| SERA | Sera Prognostics, Inc. | $11.2M | 5,498,170 | 0.06% | — |
| BNTX | BioNTech SE | $10.6M | 119,743 | 0.06% | — |
| PHVS | Pharvaris N.V. | $10.6M | 375,000 | 0.06% | — |
| RCUS | Arcus Biosciences, Inc. | $9.0M | 415,621 | 0.05% | — |
| MPLT | MapLight Therapeutics, Inc. | $7.4M | 364,705 | 0.04% | — |
| ABSI | Absci Corporation | $6.4M | 2,134,803 | 0.04% | — |
| 1U5 | Wave Life Sciences Ltd. | $6.0M | 822,638 | 0.03% | — |
| VTVT | vTv Therapeutics, Inc. | $5.9M | 148,314 | 0.03% | — |
| EIKN | Eikon Therapeutics, Inc. | $5.9M | 555,555 | 0.03% | — |
| TARA | Protara Therapeutics, Inc. | $5.1M | 971,614 | 0.03% | — |
| SGMT | Sagimet Biosciences Inc. | $5.0M | 952,996 | 0.03% | — |
| LBRX | LB Pharmaceuticals Inc. | $4.9M | 200,000 | 0.03% | — |
| VSTM | Verastem, Inc. | $3.1M | 584,757 | 0.02% | — |
| TCRX | TScan Therapeutics, Inc. | $2.8M | 2,784,792 | 0.02% | — |
| SKYE | Skye Bioscience, Inc. | $968,144 | 1,575,243 | 0.01% | — |
| SANA | Sana Biotechnology, Inc. | $894,191 | 310,483 | 0.01% | — |
| ALGS | Aligos Therapeutics, Inc. | $617,099 | 83,055 | 0.00% | — |
| TYRA | Tyra Biosciences, Inc. | $406,248 | 10,607 | 0.00% | — |
| Surrozen, Inc. | Surrozen, Inc. | $13,333 | 833,333 | 0.00% | — |
Rows are aggregated by CUSIP — a manager files the same security multiple times when different internal desks hold it. Tickers link to our own backtest of that asset where we cover it.
Read the original
This page was built from one document: the 2026-03-31 Form 13F info table filed by BAKER BROS. ADVISORS LP (CIK 1263508, accession 0001104659-26-062547). Every other 13F site is reading the same file.
If anything here disagrees with it, the filing wins — and we would want to know. All 13F filings by this manager
What a 13F cannot show you
A 13F is a long-only equity snapshot, and the holes in it are structural. Anyone selling you this data as "what the smart money is doing" is selling you one leg of a position:
- No short positions. None, ever. A fund shown here as bullish may be net short the same name through a book you cannot see.
- No cash, bonds, FX, commodities or non-US listings. A macro fund's entire thesis can be invisible.
- No intra-quarter round trips. Bought and sold inside the same quarter means it never appears at all.
- Options are notional, not ownership. We keep puts and calls in a separate bucket rather than adding their notional into a fund's book size, which is how a $2B fund gets reported as a $20B one.
- Confidential treatment. Managers can ask the SEC to withhold a position while they build it. Those holdings are legally absent from the filing, so a "new" position may be months old.
Tested and published by IndicatorEdge · backtest grid generated 2026-06-25 · base rates recomputed 2026-07-31 · how we test
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