Filed: 11/14/2025ACC: 0001104659-25-112595
📋 What this filing means
BAKER BROS. ADVISORS LP filed this quarterly 13F‑HR report disclosing 91 equity positions with a total reported market value of $13.84B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
91
Positions
$13.84B
Total AUM (reported)
404.78M
Total Shares
Allocation by class
COM$8.89B64.3%
SPONSORED ADS$3.25B23.5%
COM PAR $.01$965.37M7.0%
SHS$405.31M2.9%
ORD SHS CL A$109.68M0.8%
ADS$84.38M0.6%
NOTE 2.75% 8/1/2031$40.91M0.3%
Portfolio Concentration
Top 3$6.59B47.6%
4–10$4.35B31.5%
11–25$1.76B12.7%
Rest$1.14B8.2%
Top 3 weight
47.6%
Top 10 weight
79.1%
Voting Authority Distribution
Total shares with voting rights: 404.78M
Sole
Full voting authority
404.78M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole91
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings91
Rows:
BeOne Medicines Ltd.
SOLEShares8.80M
TypeSH
Market value$3.00B
21.66%
Sole
8.80M
Shared
0.00
None
0.00
Incyte Corporation
SOLEShares30.74M
TypeSH
Market value$2.61B
18.84%
Sole
30.74M
Shared
0.00
None
0.00
Madrigal Pharmaceuticals, Inc.
SOLEShares2.14M
TypeSH
Market value$982.31M
7.10%
Sole
2.14M
Shared
0.00
None
0.00
Insmed Incorporated
SOLEShares6.70M
TypeSH
Market value$965.37M
6.98%
Sole
6.70M
Shared
0.00
None
0.00
ACADIA Pharmaceuticals Inc.
SOLEShares42.90M
TypeSH
Market value$915.42M
6.61%
Sole
42.90M
Shared
0.00
None
0.00
Summit Therapeutics Inc.
SOLEShares33.72M
TypeSH
Market value$696.72M
5.03%
Sole
33.72M
Shared
0.00
None
0.00
Rhythm Pharmaceuticals, Inc.
SOLEShares5.60M
TypeSH
Market value$566.00M
4.09%
Sole
5.60M
Shared
0.00
None
0.00
Revolution Medicines, Inc.
SOLEShares9.46M
TypeSH
Market value$441.57M
3.19%
Sole
9.46M
Shared
0.00
None
0.00
Celcuity Inc.
SOLEShares7.92M
TypeSH
Market value$391.04M
2.83%
Sole
7.92M
Shared
0.00
None
0.00
Kymera Therapeutics, Inc.
SOLEShares6.65M
TypeSH
Market value$376.47M
2.72%
Sole
6.65M
Shared
0.00
None
0.00
Kodiak Sciences Inc.
SOLEShares17.31M
TypeSH
Market value$283.37M
2.05%
Sole
17.31M
Shared
0.00
None
0.00
Alkermes plc
SOLEShares8.09M
TypeSH
Market value$242.74M
1.75%
Sole
8.09M
Shared
0.00
None
0.00
AbCellera Biologics Inc.
SOLEShares27.53M
TypeSH
Market value$138.45M
1.00%
Sole
27.53M
Shared
0.00
None
0.00
Edgewise Therapeutics, Inc.
SOLEShares7.31M
TypeSH
Market value$118.50M
0.86%
Sole
7.31M
Shared
0.00
None
0.00
Kiniksa Pharmaceuticals International, plc
SOLEShares2.82M
TypeSH
Market value$109.68M
0.79%
Sole
2.82M
Shared
0.00
None
0.00
Stoke Therapeutics, Inc.
SOLEShares4.63M
TypeSH
Market value$108.90M
0.79%
Sole
4.63M
Shared
0.00
None
0.00
Immatics N.V.
SOLEShares12.09M
TypeSH
Market value$103.04M
0.74%
Sole
12.09M
Shared
0.00
None
0.00
GRAIL, Inc.
SOLEShares1.63M
TypeSH
Market value$96.39M
0.70%
Sole
1.63M
Shared
0.00
None
0.00
IDEAYA Biosciences, Inc.
SOLEShares3.28M
TypeSH
Market value$89.12M
0.64%
Sole
3.28M
Shared
0.00
None
0.00
Immunovant, Inc.
SOLEShares5.46M
TypeSH
Market value$87.98M
0.64%
Sole
5.46M
Shared
0.00
None
0.00
Immunocore Holdings plc
SOLEShares2.32M
TypeSH
Market value$84.38M
0.61%
Sole
2.32M
Shared
0.00
None
0.00
Bicycle Therapeutics plc
SOLEShares10.89M
TypeSH
Market value$84.25M
0.61%
Sole
10.89M
Shared
0.00
None
0.00
Ultragenyx Pharmaceutical Inc.
SOLEShares2.77M
TypeSH
Market value$83.40M
0.60%
Sole
2.77M
Shared
0.00
None
0.00
Abivax S.A.
SOLEShares875.80K
TypeSH
Market value$74.36M
0.54%
Sole
875.80K
Shared
0.00
None
0.00
Arrowhead Pharmaceuticals, Inc.
SOLEShares1.67M
TypeSH
Market value$57.62M
0.42%
Sole
1.67M
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
BeOne Medicines Ltd.SOLE | SPONSORED ADS | 8.80M | SH | $3.00B 21.66% | 8.80M | 0.00 | 0.00 |
Incyte CorporationSOLE | COM | 30.74M | SH | $2.61B 18.84% | 30.74M | 0.00 | 0.00 |
Madrigal Pharmaceuticals, Inc.SOLE | COM | 2.14M | SH | $982.31M 7.10% | 2.14M | 0.00 | 0.00 |
Insmed IncorporatedSOLE | COM PAR $.01 | 6.70M | SH | $965.37M 6.98% | 6.70M | 0.00 | 0.00 |
ACADIA Pharmaceuticals Inc.SOLE | COM | 42.90M | SH | $915.42M 6.61% | 42.90M | 0.00 | 0.00 |
Summit Therapeutics Inc.SOLE | COM | 33.72M | SH | $696.72M 5.03% | 33.72M | 0.00 | 0.00 |
Rhythm Pharmaceuticals, Inc.SOLE | COM | 5.60M | SH | $566.00M 4.09% | 5.60M | 0.00 | 0.00 |
Revolution Medicines, Inc.SOLE | COM | 9.46M | SH | $441.57M 3.19% | 9.46M | 0.00 | 0.00 |
Celcuity Inc.SOLE | COM | 7.92M | SH | $391.04M 2.83% | 7.92M | 0.00 | 0.00 |
Kymera Therapeutics, Inc.SOLE | COM | 6.65M | SH | $376.47M 2.72% | 6.65M | 0.00 | 0.00 |
Kodiak Sciences Inc.SOLE | COM | 17.31M | SH | $283.37M 2.05% | 17.31M | 0.00 | 0.00 |
Alkermes plcSOLE | SHS | 8.09M | SH | $242.74M 1.75% | 8.09M | 0.00 | 0.00 |
AbCellera Biologics Inc.SOLE | COM | 27.53M | SH | $138.45M 1.00% | 27.53M | 0.00 | 0.00 |
Edgewise Therapeutics, Inc.SOLE | COM | 7.31M | SH | $118.50M 0.86% | 7.31M | 0.00 | 0.00 |
Kiniksa Pharmaceuticals International, plcSOLE | ORD SHS CL A | 2.82M | SH | $109.68M 0.79% | 2.82M | 0.00 | 0.00 |
Stoke Therapeutics, Inc.SOLE | COM | 4.63M | SH | $108.90M 0.79% | 4.63M | 0.00 | 0.00 |
Immatics N.V.SOLE | SHS | 12.09M | SH | $103.04M 0.74% | 12.09M | 0.00 | 0.00 |
GRAIL, Inc.SOLE | COM | 1.63M | SH | $96.39M 0.70% | 1.63M | 0.00 | 0.00 |
IDEAYA Biosciences, Inc.SOLE | COM | 3.28M | SH | $89.12M 0.64% | 3.28M | 0.00 | 0.00 |
Immunovant, Inc.SOLE | COM | 5.46M | SH | $87.98M 0.64% | 5.46M | 0.00 | 0.00 |
Immunocore Holdings plcSOLE | ADS | 2.32M | SH | $84.38M 0.61% | 2.32M | 0.00 | 0.00 |
Bicycle Therapeutics plcSOLE | SPONSORED ADS | 10.89M | SH | $84.25M 0.61% | 10.89M | 0.00 | 0.00 |
Ultragenyx Pharmaceutical Inc.SOLE | COM | 2.77M | SH | $83.40M 0.60% | 2.77M | 0.00 | 0.00 |
Abivax S.A.SOLE | SPONSORED ADS | 875.80K | SH | $74.36M 0.54% | 875.80K | 0.00 | 0.00 |
Arrowhead Pharmaceuticals, Inc.SOLE | COM | 1.67M | SH | $57.62M 0.42% | 1.67M | 0.00 | 0.00 |
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