Latest BAKER BROS. ADVISORS LP Stock Portfolio

BAKER BROS. ADVISORS LP Performance:

2025 Q3: 20.52%YTD: 17.09%2024: 2.67%

Performance for 2025 Q3 is 20.52%, and YTD is 17.09%, and 2024 is 2.67%.

About BAKER BROS. ADVISORS LP and 13F Hedge Fund Stock Holdings

BAKER BROS. ADVISORS LP is a hedge fund based in NEW YORK, NY. On 24-Mar-2023, the fund reported that it had an AUM (Regulated Assets under Management) of $23.2 Billions. In it's latest 13F Holdings report, BAKER BROS. ADVISORS LP reported an equity portfolio of $13.8 Billions as of 30 Sep, 2025.

The top stock holdings of BAKER BROS. ADVISORS LP are BGNE, INCY, MDGL. The fund has invested 21.7% of it's portfolio in BEONE MEDICINES LTD. and 18.8% of portfolio in INCYTE CORPORATION.

The fund managers got completely rid off VERONA PHARMA PLC (VRNA), VERVE THERAPEUTICS, INC. (VERV) and BLUEPRINT MEDICINES CORPORATION (BPMC) stocks. They significantly reduced their stock positions in CONTINEUM THERAPEUTICS, INC., CERUS CORPORATION (CERS) and KALA BIO, INC. (KALA). BAKER BROS. ADVISORS LP opened new stock positions in ABIVAX S.A., IONIS PHARMACEUTICALS, INC. (IONS) and AVIDITY BIOSCIENCES, INC. (RNA). The fund showed a lot of confidence in some stocks as they added substantially to RAPPORT THERAPEUTICS, INC., ARROWHEAD PHARMACEUTICALS, INC. (ARWR) and XENCOR, INC. (XNCR).

BAKER BROS. ADVISORS LP Annual Return Estimates Vs S&P 500

Our best estimate is that BAKER BROS. ADVISORS LP made a return of 20.52% in the last quarter. In trailing 12 months, it's portfolio return was 13.8%.

New Buys

Ticker	$ Bought
abivax s.a.	74,355,100
celcuity inc.	40,905,100
ionis pharmaceuticals, inc.	37,079,900
avidity biosciences, inc.	27,231,200
viking therapeutics, inc.	9,620,660
pharvaris n.v.	9,356,250
heron therapeutics, inc.	5,357,460
mbx biosciences, inc.	4,861,100

New stocks bought by BAKER BROS. ADVISORS LP

Additions

Ticker	% Inc.
rapport therapeutics, inc.	181
arrowhead pharmaceuticals, inc.	77.9
xencor, inc.	64.39
spyre therapeutics, inc.	59.57
ideaya biosciences, inc.	54.59
vtv therapeutics, inc.	52.41
celcuity inc.	45.23
alkermes plc	26.22

Additions to existing portfolio by BAKER BROS. ADVISORS LP

Reductions

Ticker	% Reduced
contineum therapeutics, inc.	-75.15
structure therapeutics inc.	-37.97
cerus corporation	-22.32
kala bio, inc.	-18.04
insmed incorporated	-13.09

BAKER BROS. ADVISORS LP reduced stake in above stock

Sold off

Ticker	$ Sold
igm biosciences, inc.	-4,587,760
fate therapeutics, inc.	-2,783,220
verve therapeutics, inc.	-18,995,900
neumora therapeutics, inc.	-758,672
hookipa pharma inc.	-1,020,080
rocket pharmaceuticals, inc.	-1,352,590
candel therapeutics, inc.	-1,796,870
verona pharma plc	-21,171,100

BAKER BROS. ADVISORS LP got rid off the above stocks

Sector Distribution

BAKER BROS. ADVISORS LP has about 95.2% of it's holdings in Healthcare sector.

Sector	%
Healthcare	95.2
Others	4.8

Market Cap. Distribution

BAKER BROS. ADVISORS LP has about 47.6% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
MID-CAP	30.7
LARGE-CAP	25.9
MEGA-CAP	21.7
SMALL-CAP	13.3
UNALLOCATED	5.4
MICRO-CAP	2.9

Stocks belong to which Index?

About 68.4% of the stocks held by BAKER BROS. ADVISORS LP either belong to S&P 500 or RUSSELL 2000 index.

Index	%
RUSSELL 2000	49.5
Others	31.6
S&P 500	18.9

Top 5 Winners (%)		%
KOD	kodiak sciences inc.	338.9 %
DSGN	design therapeutics, inc.	123.4 %
STOK	stoke therapeutics, inc.	107.0 %
CELC	celcuity inc.	101.0 %
CDTX	cidara therapeutics, inc.	96.6 %

Top 5 Winners ($)		$
INCY	incyte corporation	513.7 M
INSM	insmed incorporated	334.5 M
MDGL	madrigal pharmaceuticals, inc.	308.3 M
KOD	kodiak sciences inc.	218.8 M
RYTM	rhythm pharmaceuticals, inc.	211.8 M

Top 5 Losers (%)		%
KALA	kala bio, inc.	-67.9 %
REPL	replimune group, inc.	-54.9 %
NRIX	nurix therapeutics, inc.	-18.9 %
RARE	ultragenyx pharmaceutical inc.	-17.3 %
TRDA	entrada therapeutics, inc.	-13.7 %

Top 5 Losers ($)		$
REPL	replimune group, inc.	-56.3 M
SMMT	summit therapeutics inc.	-20.9 M
RARE	ultragenyx pharmaceutical inc.	-17.4 M
ACAD	acadia pharmaceuticals inc.	-9.9 M
NRIX	nurix therapeutics, inc.	-8.3 M

BAKER BROS. ADVISORS LP Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of BAKER BROS. ADVISORS LP

BAKER BROS. ADVISORS LP has 90 stocks in it's portfolio. About 79.1% of the portfolio is in top 10 stocks. REPL proved to be the most loss making stock for the portfolio. INCY was the most profitable stock for BAKER BROS. ADVISORS LP last quarter.

Last Reported on: 14 Nov, 2025

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
ABCL	abcellera biologics inc.	1.00	27,525,600	138,454,000	unchanged	0.00

ACAD	acadia pharmaceuticals inc.	6.62	42,896,700	915,415,000	unchanged	0.00

ACLX	arcellx, inc.	0.10	166,825	13,696,300	unchanged	0.00

AGIO	agios pharmaceuticals, inc.	0.06	189,866	7,621,220	unchanged	0.00

AGLE	spyre therapeutics, inc.	0.12	1,000,000	16,760,000	added	59.57

AKRO	akero therapeutics, inc.	0.11	324,630	15,413,400	unchanged	0.00

ALGS	aligos therapeutics, inc.	0.01	83,055	813,939	unchanged	0.00

ALKS	alkermes plc	1.75	8,091,350	242,741,000	added	26.22

ARWR	arrowhead pharmaceuticals, inc.	0.42	1,670,760	57,624,600	added	77.9

BCYC	bicycle therapeutics plc	0.61	10,885,400	84,252,700	unchanged	0.00

BGNE	beone medicines ltd.	21.66	8,799,050	2,997,840,000	unchanged	0.00

BPMC	blueprint medicines corporation	0.00	0.00	0.00	sold off	-100

CADL	candel therapeutics, inc.	0.00	0.00	0.00	sold off	-100

CDTX	cidara therapeutics, inc.	0.16	227,272	21,763,600	unchanged	0.00

CELC	celcuity inc.	2.83	7,915,790	391,040,000	added	45.23

CELC	celcuity inc.	0.30	30,750,000	40,905,100	new

CERS	cerus corporation	0.12	10,008,300	15,913,300	reduced	-22.32

CLDX	celldex therapeutics, inc.	0.12	665,370	17,213,100	unchanged	0.00

CRNX	crinetics pharmaceuticals, inc.	0.08	280,000	11,662,000	unchanged	0.00

CTMX	cytomx therapeutics, inc.	0.10	4,250,830	13,560,100	added	22.00