B
BAKER BROS. ADVISORS LP
Hedge Fund • Sector
BAKER BROS. ADVISORS LP is a Sector-focused Hedge Fund based in New York, NY led by Scott Lawrence Lessing, reporting $18.0B in AUM as of Q2 2025 with 95% Healthcare concentration, 78% concentrated in top 10 holdings, and 26% allocation to INCY.
PresidentScott Lawrence Lessing
- Portfolio Value
- $8.2B
- Positions
- 87
- Top Holding
- INCY at 25.6%
- Last Reported
- Q2 2025
Top Holdings
Largest long holdings in BAKER BROS. ADVISORS LP's portfolio (78.1% of total portfolio)
| Holding | Sector | Market Value | Weight | Ownership |
|---|---|---|---|---|
1  Incyte INCY | Biotechnology Healthcare | $2.1B | 25.60% | 15.88% 30.7M shares |
2  Acadia Pharmaceuticals ACAD | Biotechnology Healthcare | $925.3M | 11.31% | 25.63% 42.9M shares |
3  Insmed INSM | Biotechnology Healthcare | $776.2M | 9.49% | 4.06% 7.7M shares |
4  Summit Therapeutics SMMT | Biotechnology Healthcare | $717.6M | 8.78% | 4.54% 33.7M shares |
5  Madrigal Pharmaceuticals, Inc. MDGL | Biotechnology Healthcare | $598.0M | 7.31% | 8.90% 2.0M shares |
6  Rhythm Pharmaceuticals, Inc. RYTM | Biotechnology Healthcare | $354.1M | 4.33% | 8.81% 5.6M shares |
7  Revolution Medicines, Inc. RVMD | Biotechnology Healthcare | $344.5M | 4.21% | 5.03% 9.4M shares |
8  Kymera Therapeutics KYMR | Biotechnology Healthcare | $290.3M | 3.55% | 10.21% 6.7M shares |
9  Alkermes ALKS | Biotechnology Healthcare | $183.4M | 2.24% | 3.89% 6.4M shares |
10  Replimune Group REPL | Biotechnology Healthcare | $102.6M | 1.25% | 14.33% 11.0M shares |
Changes
Portfolio activity, position movements, and quarter-over-quarter changes in BAKER BROS. ADVISORS LP's latest filing
Market Value
Q/Q Change
Net Flows % of MV
Turnover Ratio
New Purchases
Added To
Sold Out Of
Reduced Holdings
Increased Positions
| Position | Shares Δ |
|---|---|
1  Viridian Therapeutics, Inc. VRDN | New |
2  Dianthus Therapeutics DNTH | New |
3  Cidara Therapeutics CDTX | New |
4  Arcellx, Inc. ACLX | New |
5  Nuvalent, Inc. NUVL | New |
Decreased Positions
| Position | Shares Δ |
|---|---|
1  CRISPR Therapeutics CRSP | Sold |
2 CNTA Centessa Pharmaceuticals CNTA | Sold |
3  2seventy bio, Inc. TSVT | Sold |
4  Bicara Therapeutics BCAX | Sold |
5  Ionis Pharmaceuticals IONS | Sold |
Analytics
Portfolio insights and performance metrics for BAKER BROS. ADVISORS LP