Quarter snapshot

Baker Bros. Advisors

Quarter: Q4 2025
Filed: 2026-02-17
Portfolio value: $17,078,624,105
Positions: 86
Source: 13F on EDGAR ↗

Earliest quarter on record — change badges compare to the prior quarter, which isn't stored before this one.

Ticker	Change	% of portfolio	Shares	Value
INCY history	NEW	17.78%	30,743,991	$3,036,583,991
ONC history	NEW	15.65%	8,799,053	$2,673,240,292
MDGL history	NEW	7.3%	2,141,701	$1,247,198,160
INSM history	NEW	6.72%	6,592,746	$1,147,401,514
A history	NEW	6.71%	42,896,690	$1,145,770,590
CELC history	NEW	4.62%	7,915,792	$789,521,094
RVMD history	NEW	4.41%	9,455,357	$753,119,185
KYMR history	NEW	3.94%	8,657,242	$673,620,000
SMMT history	NEW	3.73%	36,391,063	$636,479,692
RYTM history	NEW	3.51%	5,604,483	$599,903,860
KOD history	NEW	3.26%	19,919,186	$556,940,441
PRAX history	NEW	1.94%	1,126,488	$332,021,073
ALKS history	NEW	1.64%	10,012,267	$280,143,231
GRAL history	NEW	1.05%	2,085,333	$178,483,651
EWTX history	NEW	0.96%	6,575,940	$163,181,951
ARWR history	NEW	0.85%	2,175,645	$144,441,072
IONS history	NEW	0.83%	1,791,841	$141,752,542
IMVT history	NEW	0.81%	5,457,881	$138,739,335
IMTX history	NEW	0.74%	12,094,094	$126,987,987
IDYA history	NEW	0.73%	3,618,826	$125,102,815
ROIV history	NEW	0.71%	5,555,017	$120,543,869
ABVX history	NEW	0.69%	875,796	$118,105,470
KNSA history	NEW	0.68%	2,826,246	$116,582,648
REPL history	NEW	0.63%	11,045,336	$107,360,666
STOK history	NEW	0.62%	3,336,697	$105,906,763
GPCR history	NEW	0.58%	1,432,529	$99,632,392
ABCL history	NEW	0.55%	27,525,640	$94,137,689
NRIX history	NEW	0.52%	4,658,556	$88,372,807
IMCR history	NEW	0.47%	2,322,656	$80,619,390
BCYC history	NEW	0.45%	10,885,357	$77,068,328
CRNX history	NEW	0.45%	1,648,869	$76,754,852
GLUE history	NEW	0.4%	4,345,736	$68,141,140
15102KAA8 history	NEW	0.39%	30,750,000	$66,580,023
RARE history	NEW	0.37%	2,772,692	$63,771,916
DNLI history	NEW	0.36%	3,731,695	$61,610,284
VRDN history	NEW	0.36%	1,971,678	$61,358,619
TRDA history	NEW	0.31%	5,072,730	$52,147,664
RAPP history	NEW	0.27%	1,547,090	$46,938,711
TERN history	NEW	0.22%	950,000	$38,380,000
BNTX history	NEW	0.21%	368,923	$35,121,470
SYRE history	NEW	0.19%	1,000,000	$32,760,000
DNTH history	NEW	0.19%	789,759	$32,545,968
PRLD history	NEW	0.17%	10,123,824	$29,359,090
DBVT history	NEW	0.16%	1,461,425	$28,015,517
IRON history	NEW	0.16%	337,050	$26,765,141
JBIO history	NEW	0.15%	1,641,137	$25,322,744
TSHA history	NEW	0.13%	4,004,756	$22,026,158
BCRX history	NEW	0.13%	2,822,727	$22,017,271
VTYX history	NEW	0.12%	2,349,280	$21,213,998
ARGX history	NEW	0.12%	25,174	$21,170,075
DSGN history	NEW	0.12%	2,233,099	$20,946,469
CERS history	NEW	0.12%	10,008,345	$20,617,191
NGNE history	NEW	0.12%	991,691	$20,428,835
TECX history	NEW	0.11%	903,400	$18,844,924
CTMX history	NEW	0.11%	4,250,826	$18,108,519
CLDX history	NEW	0.11%	665,370	$18,071,449
XNCR history	NEW	0.1%	1,102,106	$16,873,243
CNTA history	NEW	0.1%	670,751	$16,775,483
XENE history	NEW	0.1%	370,208	$16,592,723
SION history	NEW	0.1%	400,000	$16,456,000
CTNM history	NEW	0.1%	1,420,838	$16,240,178
SERA history	NEW	0.09%	5,498,170	$16,219,602
DYN history	NEW	0.09%	813,449	$15,911,062
ALMS history	NEW	0.09%	1,562,500	$15,250,000
NUVL history	NEW	0.08%	143,937	$14,478,623
PHVS history	NEW	0.06%	375,000	$10,406,250
RLAY history	NEW	0.06%	1,160,117	$9,814,590
ABSI history	NEW	0.04%	2,134,803	$7,450,462
RCUS history	NEW	0.04%	270,000	$6,434,100
MPLT history	NEW	0.04%	364,705	$6,406,043
VTVT history	NEW	0.03%	148,314	$5,931,077
WVE history	NEW	0.03%	344,063	$5,849,071
SGMT history	NEW	0.03%	952,996	$5,641,736
TARA history	NEW	0.03%	971,614	$5,178,703
LBRX history	NEW	0.03%	200,000	$4,452,000
ELVN history	NEW	0.02%	271,406	$4,179,652
FDMT history	NEW	0.02%	475,737	$3,568,028
VIR history	NEW	0.02%	542,539	$3,271,510
TCRX history	NEW	0.02%	2,784,792	$2,784,792
SANA history	NEW	0.01%	310,483	$1,263,666
SKYE history	NEW	0.01%	1,450,638	$1,087,543
KALA history	NEW	0.01%	1,804,055	$1,002,874
ALGS history	NEW	0.0%	83,055	$774,073
TYRA history	NEW	0.0%	10,607	$278,858
ACRV history	NEW	0.0%	22,809	$54,970
SRZNW history	NEW	0.0%	833,333	$16,667