BAKER BROS. ADVISORS LP
Q3 2025 13F-HR Holdings
Net value change ($000)
+3,530,942
(34.3%)
New positions
11
Sold out positions
10
Turnover %
1.8%
Sector allocation + QoQ delta (equities-only)
Snapshot: Change Analysis
Compared to Q2 2025
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 | 867,850 | 40.7% |
| INCY | 513,753 | 24.5% |
| MDGL | 384,291 | 64.3% |
| CELC | 318,277 | 437.4% |
| KOD | 218,805 | 338.9% |
| RYTM | 211,850 | 59.8% |
| INSM | 189,143 | 24.4% |
| RVMD | 97,028 | 28.2% |
| KYMR | 86,203 | 29.7% |
| ABVX | 74,355 | NEW |
Top Reduces (Value $000, Stocks/ETFs)
| REPL | -56,331 | -54.9% |
| VRNA | -21,171 | -100.0% |
| SMMT | -20,908 | -2.9% |
| Verve Therapeutics, Inc. | -18,996 | -100.0% |
| RARE | -17,412 | -17.3% |
| BPMC | -16,091 | -100.0% |
| ACAD | -9,867 | -1.1% |
| GPCR | -8,461 | -16.3% |
| NRIX | -8,346 | -18.9% |
| IGM Biosciences, Inc. | -4,588 | -100.0% |
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.
Filter:
Instrument:
| Issuer Name | Ticker | Sector | Industry | Class | History | Value ($000) | % | Shares | Shares Δ | Shares Δ% | Value Δ ($000) | Value Δ% | Principal | Option Type |
|---|