2026 Q1 Portfolio Activity
In 2026 Q1, BAKER BROS. ADVISORS LP maintained a portfolio of 93 distinct positions. The most significant new addition was Mirum Pharmaceuticals, Inc., now representing 0.24% of the total fund value. They heavily accumulated shares in Praxis Precision Medicines, In, increasing the position by 55.6%.
Position History
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Total Positions
93
Quarter
2026 Q1
Top Holding
INCY (16.6%)
Top 10 Concentration
73.5%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 93
BAKER BROS. ADVISORS LP Full Holdings List — 2026 Q1
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
INCY
Incyte Corporat...
|
Healthcare | 16.62% | 17.78% |
#1
Prev: #1
|
6.5 | 421 | 0.0% |
P
S
|
30,744,412 | $2,893,664,057 | 2003 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ONC
BeOne Medicines...
|
Healthcare | 15.00% | 15.65% |
#2
Prev: #2
|
6.5 | no change | no change |
P
S
|
8,799,053 | $2,613,054,769 | 2016 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
INSM
Insmed Incorpor...
|
Healthcare | 6.97% | 6.72% |
#3
1
Prev: #4
|
5.8 | 828,365 | 12.6% |
P
S
|
7,421,111 | $1,213,500,071 | 2012 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MDGL
Madrigal Pharma...
|
Healthcare | 6.44% | 7.30% |
#4
1
Prev: #3
|
4.1 | no change | no change |
P
S
|
2,141,701 | $1,121,116,222 | 2016 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ACAD
ACADIA Pharmace...
|
Healthcare | 5.48% | 6.71% |
#5
Prev: #5
|
3.7 | no change | no change |
P
S
|
42,896,690 | $954,880,319 | 2005 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
RVMD
Revolution Medi...
|
Healthcare | 5.34% | 4.41% |
#6
1
Prev: #7
|
2.6 | 100,000 | 1.1% |
P
S
|
9,555,357 | $929,258,468 | 2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CELC
Celcuity Inc.
|
Healthcare | 5.19% | 4.62% |
#7
1
Prev: #6
|
3.1 | no change | no change |
P
S
|
7,915,792 | $903,508,499 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
KOD
Kodiak Sciences...
|
Healthcare | 4.36% | 3.26% |
#8
3
Prev: #11
|
2.7 | no change | no change |
P
S
|
19,919,186 | $759,319,370 | 2018 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
KYMR
Kymera Therapeu...
|
Healthcare | 4.14% | 3.94% |
#9
1
Prev: #8
|
2.7 | no change | no change |
P
S
|
8,657,242 | $721,061,686 | 2020 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SMMT
Summit Therapeu...
|
Healthcare | 3.96% | 3.73% |
#10
1
Prev: #9
|
2.6 | no change | no change |
P
S
|
36,391,063 | $689,974,554 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PRAX
Praxis Precisio...
|
Healthcare | 3.24% | 1.94% |
#11
1
Prev: #12
|
4.3 | 626,710 | 55.6% |
P
S
|
1,753,198 | $564,862,864 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
RYTM
Rhythm Pharmace...
|
Healthcare | 2.80% | 3.51% |
#12
2
Prev: #10
|
2.1 | no change | no change |
P
S
|
5,604,483 | $487,421,887 | 2017 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ALKS
Alkermes plc
|
Healthcare | 2.03% | 1.64% |
#13
Prev: #13
|
1.8 | no change | no change |
P
S
|
10,012,267 | $354,033,761 | 2003 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GRAL
GRAIL, Inc.
|
Healthcare | 1.20% | 1.05% |
#14
Prev: #14
|
3.5 | 1,943,281 | 93.2% |
P
S
|
4,028,614 | $208,198,772 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
EWTX
Edgewise Therap...
|
Healthcare | 1.19% | 0.96% |
#15
Prev: #15
|
1.5 | no change | no change |
P
S
|
6,575,940 | $207,142,110 | 2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
IONS
Ionis Pharmaceu...
|
Healthcare | 0.88% | 0.83% |
#16
1
Prev: #17
|
2.4 | 255,886 | 14.3% |
P
S
|
2,047,727 | $153,763,820 | 2006 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
KNSA
Kiniksa Pharmac...
|
Healthcare | 0.78% | 0.68% |
#17
6
Prev: #23
|
1.3 | no change | no change |
P
S
|
2,826,246 | $136,083,745 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
IMVT
Immunovant, Inc...
|
Healthcare | 0.78% | 0.81% |
#18
Prev: #18
|
1.3 | no change | no change |
P
S
|
5,457,881 | $135,573,764 | 2023 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ROIV
Roivant Science...
|
Healthcare | 0.77% | 0.71% |
#19
2
Prev: #21
|
0.8 | -687,294 | -12.4% |
P
S
|
4,867,723 | $134,835,927 | 2022 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
IDYA
IDEAYA Bioscien...
|
Healthcare | 0.76% | 0.73% |
#20
Prev: #20
|
2.3 | 327,689 | 9.1% |
P
S
|
3,946,515 | $131,497,880 | 2019 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ARWR
Arrowhead Pharm...
|
Healthcare | 0.72% | 0.85% |
#21
5
Prev: #16
|
0.8 | -182,862 | -8.4% |
P
S
|
1,992,783 | $124,947,494 | 2013 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
STOK
Stoke Therapeut...
|
Healthcare | 0.62% | 0.62% |
#22
3
Prev: #25
|
1.2 | no change | no change |
P
S
|
3,336,697 | $108,642,854 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
IMTX
Immatics N.V.
|
Healthcare | 0.62% | 0.74% |
#23
4
Prev: #19
|
0.7 | -1,177,401 | -9.7% |
P
S
|
10,916,693 | $107,420,259 | 2020 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ABCL
AbCellera Biolo...
|
Healthcare | 0.61% | 0.55% |
#24
3
Prev: #27
|
2.2 | 2,750,298 | 10.0% |
P
S
|
30,275,938 | $105,663,024 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ABVX
Abivax S.A.
|
Healthcare | 0.56% | 0.69% |
#25
3
Prev: #22
|
1.2 | no change | no change |
P
S
|
875,796 | $97,519,885 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CRNX
Crinetics Pharm...
|
Healthcare | 0.49% | 0.45% |
#26
5
Prev: #31
|
2.7 | 702,596 | 42.6% |
P
S
|
2,351,465 | $85,405,209 | 2018 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
REPL
Replimune Group...
|
Healthcare | 0.49% | 0.63% |
#27
3
Prev: #24
|
1.2 | no change | no change |
P
S
|
11,045,336 | $84,496,820 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
Celcuity Inc.
|
|
Bond/Debt | 0.43% | 0.39% |
#28
5
Prev: #33
|
1.2 | no change | no change |
P
S
|
30,750,000 | $74,868,563 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
NRIX
Nurix Therapeut...
|
Healthcare | 0.41% | 0.52% |
#29
1
Prev: #28
|
1.2 | no change | no change |
P
S
|
4,658,556 | $72,207,618 | 2020 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DNLI
Denali Therapeu...
|
Healthcare | 0.41% | 0.36% |
#30
5
Prev: #35
|
1.2 | no change | no change |
P
S
|
3,731,695 | $71,648,544 | 2020 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DNTH
Dianthus Therap...
|
Healthcare | 0.41% | 0.19% |
#31
11
Prev: #42
|
2.2 | 62,405 | 7.9% |
P
S
|
852,164 | $71,513,603 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GLUE
Monte Rosa Ther...
|
Healthcare | 0.41% | 0.40% |
#32
Prev: #32
|
1.2 | no change | no change |
P
S
|
4,345,736 | $71,487,357 | 2023 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GPCR
Structure Thera...
|
Healthcare | 0.40% | 0.58% |
#33
7
Prev: #26
|
1.2 | no change | no change |
P
S
|
1,432,529 | $69,047,898 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TRDA
Entrada Therape...
|
Healthcare | 0.37% | 0.31% |
#34
3
Prev: #37
|
1.1 | no change | no change |
P
S
|
5,072,730 | $64,017,853 | 2021 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BCYC
Bicycle Therape...
|
Healthcare | 0.29% | 0.45% |
#35
5
Prev: #30
|
1.1 | no change | no change |
P
S
|
10,885,357 | $50,508,056 | 2022 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SYRE
Spyre Therapeut...
|
Healthcare | 0.29% | 0.19% |
#36
5
Prev: #41
|
1.1 | no change | no change |
P
S
|
1,000,000 | $50,440,000 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
RAPP
Rapport Therape...
|
Healthcare | 0.28% | 0.27% |
#37
1
Prev: #38
|
1.1 | no change | no change |
P
S
|
1,547,090 | $48,408,446 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ALMS
Alumis Inc.
|
Healthcare | 0.25% | 0.09% |
#38
26
Prev: #64
|
2.6 | 450,000 | 28.8% |
P
S
|
2,012,500 | $44,335,375 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MIRM
Mirum Pharmaceu...
|
Healthcare | 0.24% | — |
#39
Prev: #—
|
3.6 | 445,975 | — |
NEW
|
445,975 | $41,199,171 | 2019 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
VRDN
Viridian Therap...
|
Healthcare | 0.22% | 0.36% |
#40
4
Prev: #36
|
1.1 | no change | no change |
P
S
|
1,971,678 | $38,566,022 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ELVN
Enliven Therape...
|
Healthcare | 0.20% | 0.02% |
#41
35
Prev: #76
|
3.1 | 633,785 | 233.5% |
P
S
|
905,191 | $35,483,487 | 2024 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PRLD
Prelude Therape...
|
Healthcare | 0.20% | 0.17% |
#42
1
Prev: #43
|
1.1 | no change | no change |
P
S
|
10,123,824 | $34,623,478 | 2020 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DBVT
DBV Technologie...
|
Healthcare | 0.18% | 0.16% |
#43
1
Prev: #44
|
1.1 | no change | no change |
P
S
|
1,461,425 | $30,529,168 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DSGN
Design Therapeu...
|
Healthcare | 0.16% | 0.12% |
#44
7
Prev: #51
|
2.1 | 352,879 | 15.8% |
P
S
|
2,585,978 | $27,514,806 | 2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CNTA
Centessa Pharma...
|
Healthcare | 0.15% | 0.10% |
#45
13
Prev: #58
|
1.1 | no change | no change |
P
S
|
670,751 | $26,642,230 | 2021 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CTMX
CytomX Therapeu...
|
Healthcare | 0.13% | 0.11% |
#46
9
Prev: #55
|
2.1 | 725,000 | 17.1% |
P
S
|
4,975,826 | $23,386,382 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
JBIO
Jade Bioscience...
|
Healthcare | 0.13% | 0.15% |
#47
1
Prev: #46
|
1.1 | no change | no change |
P
S
|
1,641,137 | $23,057,975 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
IRON
Disc Medicine, ...
|
Healthcare | 0.13% | 0.16% |
#48
3
Prev: #45
|
0.6 | 12,607 | 3.7% |
P
S
|
349,657 | $22,357,069 | 2024 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
IMCR
Immunocore Hold...
|
Healthcare | 0.13% | 0.47% |
#49
20
Prev: #29
|
0.1 | -1,588,259 | -68.4% |
P
S
|
734,397 | $22,142,070 | 2021 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
XENE
Xenon Pharmaceu...
|
Healthcare | 0.12% | 0.10% |
#50
9
Prev: #59
|
1.0 | no change | no change |
P
S
|
370,208 | $21,527,595 | 2020 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 |
Showing 1-50 of 93 holdings