Baker Bros. Advisors 13F Holdings
Baker Bros. Advisors. Biotech-focused hedge fund (~$17.1B AUM). Felix and Julian Baker.
As of the latest Q1 2026 filing, Baker Bros. Advisors (managing Baker Bros. Advisors) reported a public portfolio value of $17.4B with 84 positions. The top recent buy was INCY. The top recent sell was ROIV.
Open interactive portfolioBaker Bros. Advisors 13F portfolio overview
Baker Bros. Advisors's Q1 2026 13F holdings show Baker Bros. Advisors reporting 84 positions with a disclosed portfolio value of $17.4B. For readers searching Baker Bros. Advisors 13F holdings, Baker Bros. Advisors portfolio, or Baker Bros. Advisors holdings, the latest top holdings include Incyte, BeOne Medicines, Insmed Incorporated, Madrigal Pharmaceuticals,, and ACADIA Pharmaceuticals.
The three largest reported positions add up to roughly 38.6%, which helps readers judge portfolio concentration rather than just headline AUM. The largest reported sector exposure is Health Care at 90.2% of the disclosed portfolio. This makes the page useful for comparing the manager's actual disclosed exposure with market narratives around the same names.
The latest change data highlights reported buys such as Incyte, Insmed Incorporated, Revolution Medicines,, Praxis Precision Medicines,, and GRAIL, and reported reductions or exits such as Roivant Sciences, Arrowhead Pharmaceuticals,, Immatics N.V., Ultragenyx Pharmaceutical, and Terns Pharmaceuticals,. Those changes should be read as historical disclosure signals, not as real-time trade alerts.
The filing metadata lists report date 2026-03-31, filing date 2026-05-15, SEC accession 0001104659-26-062547. SEC 13F reports are normally published up to 45 days after quarter end, so the data is best used to understand institutional positioning after the fact rather than to infer today's exact portfolio.
Top reported holdings
| Holding | Reported value | Weight | Quarter change |
|---|---|---|---|
| INCY whale holders Incyte Corporation | $2.89B | 16.6% | Increased |
| BEIGF whale holders BeOne Medicines Ltd. | $2.61B | 15.0% | Held |
| INSM whale holders Insmed Incorporated | $1.21B | 7.0% | Increased |
| MDGL whale holders Madrigal Pharmaceuticals, Inc. | $1.12B | 6.4% | Held |
| ACAD whale holders ACADIA Pharmaceuticals Inc. | $954.9M | 5.5% | Held |
| RVMDW whale holders Revolution Medicines, Inc. | $929.3M | 5.3% | Increased |
| CELC whale holders Celcuity Inc. | $903.5M | 5.2% | Held |
| KOD whale holders Kodiak Sciences Inc. | $759.3M | 4.4% | Held |
| KYMR whale holders Kymera Therapeutics, Inc. | $721.1M | 4.1% | Held |
| SMMT whale holders Summit Therapeutics Inc. | $690.0M | 4.0% | Held |
Top buys
- INCY whale holders — Incyte Corporation ($2.89B)
- INSM whale holders — Insmed Incorporated ($1.21B)
- RVMDW whale holders — Revolution Medicines, Inc. ($929.3M)
- PRAX whale holders — Praxis Precision Medicines, Inc. ($564.9M)
- GRAL whale holders — GRAIL, Inc. ($208.2M)
- IONS whale holders — Ionis Pharmaceuticals, Inc. ($153.8M)
Top sells
- ROIV whale holders — Roivant Sciences Ltd. ($134.8M)
- ARWR whale holders — Arrowhead Pharmaceuticals, Inc. ($124.9M)
- IMTX whale holders — Immatics N.V. ($107.4M)
- RARE whale holders — Ultragenyx Pharmaceutical Inc. ($63.8M)
- N/A whale holders — Terns Pharmaceuticals, Inc. ($38.4M)
- IMCR whale holders — Immunocore Holdings plc ($22.1M)
Allocation
- Health Care: 90.2%
- Other: 9.3%
- Industrials: 0.3%
- Information Technology: 0.2%
Data notes
Report date: 2026-03-31
Disclosure source: SEC 13F
13F filings are delayed public disclosures and do not include every asset class, short positions, or real-time trades.
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Frequently asked questions
What is Baker Bros. Advisors buying?
The latest tracked change data for Baker Bros. Advisors highlights reported buys such as Incyte, Insmed Incorporated, Revolution Medicines,, and Praxis Precision Medicines,. Because 13F data is historical, use it as a research trail rather than a live trade alert.
Baker Bros. Advisors 13F portfolio
The Q1 2026 SEC 13F profile for Baker Bros. Advisors and Baker Bros. Advisors shows 84 reported positions, $17.4B in disclosed portfolio value, and top holdings including Incyte, BeOne Medicines, Insmed Incorporated, Madrigal Pharmaceuticals,, and ACADIA Pharmaceuticals.
Baker Bros. Advisors holdings
Baker Bros. Advisors holdings are summarized from public disclosures with reported values, weights, top buys, top sells, and filing metadata where available.
How delayed is Baker Bros. Advisors's 13F data?
SEC Form 13F requires institutional investment managers with $100M+ in US equities to disclose their holdings quarterly. Read our comprehensive 13F guide.