BAKER BROS. ADVISORS LP

Q1 2025 13F-HR Holdings

Location
New York, NY
Holdings as of
3/31/2025
Date filed
5/15/2025
Form type
13F-HR
Num holdings
89
Total value ($000)
$9,036,702
Net value change ($000)
-324,790 (-3.5%)
New positions
4
Sold out positions
9
Turnover %
0.9%
Sector allocation + QoQ delta (equities-only)
Prev filing: 2/14/2025 Next filing: 8/14/2025 SEC filing

Snapshot: Change Analysis

Compared to Q4 2024
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
ONC 634,204 36.0%
INSM 64,814 18.8%
IMVT 50,971 120.5%
MDGL 44,744 7.3%
SMMT 35,294 8.1%
ALKERMES PLC 27,771 23.1%
IMCR 24,211 54.2%
PCVX 20,198 504.7%
VRNA 14,212 NEW
GRAL 12,535 43.1%
Top Reduces (Value $000, Stocks/ETFs)
INCY -261,871 -12.3%
KOD -123,683 -71.8%
KYMR -77,107 -32.0%
ACAD -74,608 -9.5%
RVMD -66,512 -19.2%
BCYC -59,978 -39.4%
RYTM -43,727 -12.8%
TRDA -40,143 -47.7%
CRSP -29,224 -56.8%
EWTX -28,933 -17.6%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type