In Q4 2025, Baker Bros. Advisors held 81 positions worth $16.9B. They initiated 5 new positions and exited 59. Their largest holding was INCY ($3.0B). Portfolio value grew +23.8% versus the prior quarter.
Frequently asked questions
What stocks did Baker Bros. Advisors own in Q4 2025?
Baker Bros. Advisors held 81 biotech stocks in their 13F portfolio in Q4 2025. Their top positions include INCY, BEIGF, MDGL, INSM, ACAD. The full holdings table is available on BiotechEdge with position sizes, quarter-over-quarter changes, and AI analysis.
How much was Baker Bros. Advisors's portfolio worth in Q4 2025?
Baker Bros. Advisors's tracked biotech portfolio was worth $16.9B across 81 positions, with total assets under management of approximately $17B. Portfolio values are based on 13F filings with the SEC.
What did Baker Bros. Advisors buy in Q4 2025?
Baker Bros. Advisors initiated 5 new positions in Q4 2025, including TERN, JBIO, ABSI, RCUS, MPLT. They also increased 25 existing positions.
What did Baker Bros. Advisors sell in Q4 2025?
Baker Bros. Advisors fully exited 59 positions in Q4 2025, including IPSC, CMPS, CRSP, MRSN, MIRM and 54 more. They also trimmed 7 existing positions.
Is Baker Bros. Advisors a biotech fund?
Concentrated long-only biotech fund known for taking very large positions in a small number of high-conviction names. The Baker brothers—both trained scientists—focus on deep due diligence of clinical-stage and commercial biotech companies, often holding positions for years through clinical catalysts.
Want AI analysis, insider signals, and catalyst overlays for Baker Bros. Advisors?
View latest Baker Bros. Advisorsportfolio →