Baker Bros. Advisors Holdings 13F: Latest Portfolio Changes
Baker Bros. Advisors. Biotech-focused hedge fund (~$17.1B AUM). Felix and Julian Baker.
As of the latest Q1 2026 13F filing, Baker Bros. Advisors (managing Baker Bros. Advisors) reported a public portfolio value of $17.4B with 84 positions. This page tracks latest holdings, latest 13F changes, top buys, top sells, and top holdings from the public filing. The top recent buy was INCY. The top recent sell was ROIV.
Open interactive portfolioLatest 13F portfolio changes
Baker Bros. Advisors holdings 13F summary: the latest Baker Bros. Advisors portfolio changes show top holdings including Incyte, BeOne Medicines, Insmed Incorporated, Madrigal Pharmaceuticals,, and ACADIA Pharmaceuticals, reported top buys such as Incyte, Insmed Incorporated, Revolution Medicines,, and Praxis Precision Medicines,, and top sells or reductions such as Roivant Sciences, Arrowhead Pharmaceuticals,, Immatics N.V., and Ultragenyx Pharmaceutical.
Latest filing metadata: quarter Q1 2026; report date 2026-03-31; filing date 2026-05-15; disclosure source SEC 13F.
Baker Bros. Advisors 13F portfolio and latest holdings 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, Baker Bros. Advisors holdings, or latest 13F changes, 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 89.8% 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.
Baker Bros. Advisors portfolio analytics
the top five positions account for 50.5% of disclosed value; the largest sector exposure is Health Care at 89.8%; reported buy and sell activity implies roughly 41.5% turnover this period; cost-basis P&L across 81 tracked positions averages 176.9% (54/70 currently in profit).
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: 89.8%
- Other: 10.0%
- Information Technology: 0.2%
Data notes
Report date: 2026-03-31
Disclosure source: SEC 13F
SEC 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
Baker Bros. Advisors 13F Holdings
The Q1 2026 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.
What is Baker Bros. Advisors buying? Latest 13F changes
The latest tracked change data for Baker Bros. Advisors highlights reported buys such as Incyte, Insmed Incorporated, Revolution Medicines,, and Praxis Precision Medicines, and reported sells or reductions such as Roivant Sciences, Arrowhead Pharmaceuticals,, Immatics N.V., and Ultragenyx Pharmaceutical.
Baker Bros. Advisors top holdings
Baker Bros. Advisors top holdings are summarized from public disclosures with reported values, weights, portfolio concentration, top buys, top sells, and filing metadata where available.
Baker Bros. Advisors buys and sells
Use the top buys and top sells sections above to compare Baker Bros. Advisors's reported additions, reductions, exits, and latest portfolio activity against other tracked investors.
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 for timing, coverage, and limitations. Read the Whale Analyzer 13F guide.