2026 Q2 Portfolio Activity
In 2026 Q2, BAKER BROS. ADVISORS LP maintained a portfolio of 92 distinct positions. The most significant new addition was Faeth Therapeutics, Inc., now representing 0.16% of the total fund value. They heavily accumulated shares in Revolution Medicines, Inc., increasing the position by 19.8%. Conversely, BAKER BROS. ADVISORS LP completely exited their position in Abivax S.A..
Position History
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Total Positions
92
Quarter
2026 Q2
Top Holding
INCY (17.5%)
Top 10 Concentration
72.8%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 92
BAKER BROS. ADVISORS LP Full Holdings List — 2026 Q2
| 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 | 17.48% | 16.62% |
#1
Prev: #1
|
6.5 |
—
|
17,918 | 0.1% |
P
S
|
30,762,330 | $3,487,217,729 | 2003 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ONC
BeOne Medicines...
|
Healthcare | 12.57% | 15.00% |
#2
Prev: #2
|
6.0 |
—
|
2,514 | 0.0% |
P
S
|
8,801,567 | $2,508,182,548 | 2016 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
RVMD
Revolution Medi...
|
Healthcare | 10.74% | 5.34% |
#3
3
Prev: #6
|
7.0 |
—
|
1,888,000 | 19.8% |
P
S
|
11,443,357 | $2,143,111,899 | 2021 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MDGL
Madrigal Pharma...
|
Healthcare | 5.77% | 6.44% |
#4
Prev: #4
|
3.3 |
—
|
1,430 | 0.1% |
P
S
|
2,143,131 | $1,150,754,190 | 2016 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ACAD
ACADIA Pharmace...
|
Healthcare | 5.44% | 5.48% |
#5
Prev: #5
|
3.2 |
—
|
16,214 | 0.0% |
P
S
|
42,912,904 | $1,085,696,471 | 2005 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
KYMR
Kymera Therapeu...
|
Healthcare | 4.97% | 4.14% |
#6
3
Prev: #9
|
3.0 |
—
|
no change | no change |
P
S
|
8,657,242 | $992,725,940 | 2020 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
INSM
Insmed Incorpor...
|
Healthcare | 4.70% | 6.97% |
#7
4
Prev: #3
|
3.9 |
—
|
1,375,000 | 18.5% |
P
S
|
8,796,111 | $937,841,355 | 2012 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CELC
Celcuity Inc.
|
Healthcare | 4.15% | 5.19% |
#8
1
Prev: #7
|
2.7 |
—
|
no change | no change |
P
S
|
7,915,792 | $828,150,159 | 2023 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
KOD
Kodiak Sciences...
|
Healthcare | 3.89% | 4.36% |
#9
1
Prev: #8
|
2.6 |
—
|
no change | no change |
P
S
|
19,919,186 | $776,051,487 | 2018 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
RYTM
Rhythm Pharmace...
|
Healthcare | 3.12% | 2.80% |
#10
2
Prev: #12
|
2.2 |
—
|
no change | no change |
P
S
|
5,604,483 | $622,265,747 | 2017 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PRAX
Praxis Precisio...
|
Healthcare | 2.94% | 3.24% |
#11
Prev: #11
|
2.2 |
—
|
no change | no change |
P
S
|
1,753,198 | $586,953,158 | 2024 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ALKS
Alkermes plc
|
Healthcare | 2.63% | 2.03% |
#12
1
Prev: #13
|
2.1 |
—
|
no change | no change |
P
S
|
10,012,267 | $524,592,729 | 2003 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SMMT
Summit Therapeu...
|
Healthcare | 2.39% | 3.96% |
#13
3
Prev: #10
|
1.5 |
—
|
-3,604,715 | -9.9% |
P
S
|
32,786,348 | $477,697,090 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
GRAL
GRAIL, Inc.
|
Healthcare | 1.38% | 1.20% |
#14
Prev: #14
|
1.6 |
—
|
no change | no change |
P
S
|
4,028,614 | $275,033,478 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ABCL
AbCellera Biolo...
|
Healthcare | 1.30% | 0.61% |
#15
9
Prev: #24
|
2.5 |
—
|
2,736,200 | 9.0% |
P
S
|
33,012,138 | $259,145,283 | 2020 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IMVT
Immunovant, Inc...
|
Healthcare | 1.05% | 0.78% |
#16
2
Prev: #18
|
0.9 |
—
|
-22,661 | -0.4% |
P
S
|
5,435,220 | $209,419,027 | 2023 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IDYA
IDEAYA Bioscien...
|
Healthcare | 0.94% | 0.76% |
#17
3
Prev: #20
|
2.9 |
—
|
1,063,515 | 26.9% |
P
S
|
5,010,030 | $186,723,818 | 2019 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
KNSA
Kiniksa Pharmac...
|
Healthcare | 0.91% | 0.78% |
#18
1
Prev: #17
|
0.9 |
—
|
8,397 | 0.3% |
P
S
|
2,834,643 | $181,275,420 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ROIV
Roivant Science...
|
Healthcare | 0.84% | 0.77% |
#19
Prev: #19
|
0.8 |
—
|
-150,892 | -3.1% |
P
S
|
4,716,831 | $166,928,649 | 2022 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ARWR
Arrowhead Pharm...
|
Healthcare | 0.81% | 0.72% |
#20
1
Prev: #21
|
1.3 |
—
|
no change | no change |
P
S
|
1,992,783 | $162,431,742 | 2013 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IONS
Ionis Pharmaceu...
|
Healthcare | 0.81% | 0.88% |
#21
5
Prev: #16
|
1.3 |
—
|
no change | no change |
P
S
|
2,047,727 | $162,364,274 | 2006 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
EWTX
Edgewise Therap...
|
Healthcare | 0.75% | 1.19% |
#22
7
Prev: #15
|
0.3 |
—
|
-2,874,221 | -43.7% |
P
S
|
3,701,719 | $150,400,843 | 2021 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
REPL
Replimune Group...
|
Healthcare | 0.61% | 0.49% |
#23
4
Prev: #27
|
1.2 |
—
|
no change | no change |
P
S
|
11,045,336 | $122,271,870 | 2020 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NRIX
Nurix Therapeut...
|
Healthcare | 0.57% | 0.41% |
#24
5
Prev: #29
|
1.2 |
—
|
no change | no change |
P
S
|
4,658,556 | $113,016,569 | 2020 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
STOK
Stoke Therapeut...
|
Healthcare | 0.55% | 0.62% |
#25
3
Prev: #22
|
1.2 |
—
|
no change | no change |
P
S
|
3,336,697 | $109,176,726 | 2022 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
GLUE
Monte Rosa Ther...
|
Healthcare | 0.53% | 0.41% |
#26
6
Prev: #32
|
1.2 |
—
|
no change | no change |
P
S
|
4,345,736 | $105,166,811 | 2023 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IMTX
Immatics N.V.
|
Healthcare | 0.48% | 0.62% |
#27
4
Prev: #23
|
0.7 |
—
|
-1,408,128 | -12.9% |
P
S
|
9,508,565 | $96,321,763 | 2020 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
DNLI
Denali Therapeu...
|
Healthcare | 0.48% | 0.41% |
#28
2
Prev: #30
|
0.7 |
—
|
2,641 | 0.1% |
P
S
|
3,734,336 | $96,047,122 | 2020 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CRNX
Crinetics Pharm...
|
Healthcare | 0.44% | 0.49% |
#29
3
Prev: #26
|
1.2 |
—
|
no change | no change |
P
S
|
2,351,465 | $87,991,820 | 2018 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
DNTH
Dianthus Therap...
|
Healthcare | 0.42% | 0.41% |
#30
1
Prev: #31
|
1.2 |
—
|
no change | no change |
P
S
|
852,164 | $83,068,947 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
GPCR
Structure Thera...
|
Healthcare | 0.39% | 0.40% |
#31
2
Prev: #33
|
1.2 |
—
|
no change | no change |
P
S
|
1,432,529 | $76,883,831 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
Celcuity Inc.
|
|
Bond/Debt | 0.35% | 0.43% |
#32
4
Prev: #28
|
1.1 |
—
|
no change | no change |
P
S
|
30,750,000 | $69,158,687 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
RAPP
Rapport Therape...
|
Healthcare | 0.32% | 0.28% |
#33
4
Prev: #37
|
1.1 |
—
|
no change | no change |
P
S
|
1,547,090 | $64,467,240 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ALMS
Alumis Inc.
|
Healthcare | 0.28% | 0.25% |
#34
4
Prev: #38
|
1.1 |
—
|
no change | no change |
P
S
|
2,012,500 | $56,631,750 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PRLD
Prelude Therape...
|
Healthcare | 0.27% | 0.20% |
#35
7
Prev: #42
|
1.1 |
—
|
no change | no change |
P
S
|
10,123,824 | $53,959,982 | 2020 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
RLAY
Relay Therapeut...
|
Healthcare | 0.27% | 0.07% |
#36
29
Prev: #65
|
3.1 |
—
|
1,666,666 | 143.7% |
P
S
|
2,826,783 | $52,889,110 | 2023 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MIRM
Mirum Pharmaceu...
|
Healthcare | 0.26% | 0.24% |
#37
2
Prev: #39
|
1.1 |
—
|
no change | no change |
P
S
|
445,975 | $52,210,293 | 2019 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BCYC
Bicycle Therape...
|
Healthcare | 0.23% | 0.29% |
#38
3
Prev: #35
|
1.1 |
—
|
no change | no change |
P
S
|
10,885,357 | $46,153,914 | 2022 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ELVN
Enliven Therape...
|
Healthcare | 0.23% | 0.20% |
#39
2
Prev: #41
|
1.1 |
—
|
no change | no change |
P
S
|
905,191 | $45,938,443 | 2024 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CLDX
Celldex Therape...
|
Healthcare | 0.22% | 0.12% |
#40
11
Prev: #51
|
3.1 |
—
|
517,241 | 77.7% |
P
S
|
1,182,611 | $44,004,955 | 2023 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
VRDN
Viridian Therap...
|
Healthcare | 0.22% | 0.22% |
#41
1
Prev: #40
|
2.6 |
—
|
411,347 | 20.9% |
P
S
|
2,383,025 | $43,776,169 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
DSGN
Design Therapeu...
|
Healthcare | 0.19% | 0.16% |
#42
2
Prev: #44
|
0.6 |
—
|
92,452 | 3.6% |
P
S
|
2,678,430 | $38,756,882 | 2021 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TRDA
Entrada Therape...
|
Healthcare | 0.19% | 0.37% |
#43
9
Prev: #34
|
1.1 |
—
|
no change | no change |
P
S
|
5,072,730 | $37,335,293 | 2021 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SNSE
Faeth Therapeut...
|
Healthcare | 0.16% | — |
#44
Prev: #—
|
3.6 |
—
|
1,286,411 | — |
NEW
|
1,286,411 | $32,160,275 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
Aktis Oncology,...
|
|
Unknown | 0.16% | 0.10% |
#45
14
Prev: #59
|
1.1 |
—
|
no change | no change |
P
S
|
996,351 | $32,112,393 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
NGNE
Neurogene Inc.
|
Healthcare | 0.16% | 0.11% |
#46
6
Prev: #52
|
1.1 |
—
|
no change | no change |
P
S
|
991,691 | $31,188,682 | 2023 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
JBIO
Jade Bioscience...
|
Healthcare | 0.14% | 0.13% |
#47
Prev: #47
|
0.1 |
—
|
-410,711 | -25.0% |
P
S
|
1,230,426 | $27,340,066 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TSHA
Taysha Gene The...
|
Healthcare | 0.14% | 0.10% |
#48
10
Prev: #58
|
1.1 |
—
|
no change | no change |
P
S
|
4,004,756 | $27,272,388 | 2023 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
RCUS
Arcus Bioscienc...
|
Healthcare | 0.13% | 0.05% |
#49
20
Prev: #69
|
3.1 |
—
|
429,195 | 103.3% |
P
S
|
844,816 | $26,045,677 | 2018 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IRON
Disc Medicine, ...
|
Healthcare | 0.13% | 0.13% |
#50
2
Prev: #48
|
1.1 |
—
|
no change | no change |
P
S
|
349,657 | $25,573,913 | 2024 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 |
Showing 1-50 of 92 holdings