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Livermore
Livermore
ZHEN

Baker Bros. Advisors LP

SEC CIK
0001263508
Latest filing
Aug 14, 2026

The latest 13F from Baker Bros. Advisors LP covers Q2 2026 (filed Aug 14, 2026): 84 long positions worth $20.0B. The top 10 holdings make up 72.8% of the portfolio, and the largest is Incyte Corp (INCY) at 17.5%. Livermore has 22 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
8
Est. +$112.9M
Added
16
Est. +$645.7M
Reduced
7
Est. −$209.5M
Sold out
8
Est. −$257.2M

Top 5 holdings

Share of this quarter's portfolio value

  1. INCYIncyte Corp
    17.5%$3.49BHistory
  2. ONCBeOne Medicines Ltd.
    12.6%$2.51BHistory
  3. RVMDRevolution Medicines, Inc.
    10.7%$2.14BHistory
  4. MDGLMadrigal Pharmaceuticals, Inc.
    5.8%$1.15BHistory
  5. ACADAcadia Pharmaceuticals Inc
    5.4%$1.09BHistory

Biggest buys

New and added positions, by estimated amount bought

  1. RVMDRevolution Medicines, Inc.
    +$353.6MAddedHistory
  2. INSMINSMED Inc
    +$146.6MAddedHistory
  3. IDYAIDEAYA Biosciences, Inc.
    +$39.6MAddedHistory
  4. FTHFaeth Therapeutics, Inc.
    +$32.2MNewHistory
  5. RLAYRelay Therapeutics, Inc.
    +$31.2MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. RVMDRevolution Medicines, Inc.
    +5.40 pp5.3% → 10.7%History
  2. INCYIncyte Corp
    +0.86 pp16.6% → 17.5%History
  3. ABCLAbCellera Biologics Inc.
    +0.69 pp0.6% → 1.3%History
  4. RLAYRelay Therapeutics, Inc.
    +0.20 pp0.1% → 0.3%History
  5. IDYAIDEAYA Biosciences, Inc.
    +0.18 pp0.8% → 0.9%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. EWTXEdgewise Therapeutics, Inc.
    −$116.8MReducedHistory
  2. ABVXAbivax S.A.
    −$97.5MSold outHistory
  3. SMMTSummit Therapeutics Inc.
    −$52.5MReducedHistory
  4. SYRESpyre Therapeutics, Inc.
    −$50.4MSold outHistory
  5. CNTACentessa Pharmaceuticals plc
    −$26.6MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. SMMTSummit Therapeutics Inc.
    −1.57 pp4.0% → 2.4%History
  2. ABVXAbivax S.A.
    −0.56 pp0.6% → 0.0%History
  3. EWTXEdgewise Therapeutics, Inc.
    −0.44 pp1.2% → 0.8%History
  4. SYRESpyre Therapeutics, Inc.
    −0.29 pp0.3% → 0.0%History
  5. CNTACentessa Pharmaceuticals plc
    −0.15 pp0.2% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$20.0B
+$2.54B (+14.6%) vs. prior quarter
Positions
84
0 vs. prior quarter
Top 10 concentration
72.8%
Top 10 as share of value
Turnover
2.5%
Q2 2026, one quarter
Average holding period
18.7 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $23.1B (Q1 2021)

Q1 2021: $23.1BQ2 2021: $22.8BQ3 2021: $22.8BQ4 2021: $20.6BQ1 2022: $17.4BQ2 2022: $17.6BQ3 2022: $15.3BQ4 2022: $16.7BQ1 2023: $18.4BQ2 2023: $17.3BQ3 2023: $17.4BQ4 2023: $8.79BQ1 2024: $7.97BQ2 2024: $7.83BQ3 2024: $9.65BQ4 2024: $9.36BQ1 2025: $9.04BQ2 2025: $10.3BQ3 2025: $13.8BQ4 2025: $17.1BQ1 2026: $17.4BQ2 2026: $20.0B
Q1 2021Q2 2026
13F filings of Baker Bros. Advisors LP by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202684$20.0BINCYONCRVMDvs. Q1 2026SEC
Q1 2026May 15, 202684$17.4BINCYONCINSMvs. Q4 2025SEC
Q4 2025Feb 17, 202686$17.1BINCYONCMDGLvs. Q3 2025SEC
Q3 2025Nov 14, 202591$13.8BONCINCYMDGLvs. Q2 2025SEC
Q2 2025Aug 14, 202589$10.3BONCINCYACADvs. Q1 2025SEC
Q1 2025May 15, 202589$9.04BONCINCYACADvs. Q4 2024SEC
Q4 2024Feb 14, 202595$9.36BINCYONCACADvs. Q3 2024SEC
Q3 2024Nov 14, 202493$9.65BONCINCYACADvs. Q2 2024SEC
Q2 2024Aug 14, 202495$7.83BINCYONCACADvs. Q1 2024SEC
Q1 2024May 15, 202487$7.97BINCYONCACADvs. Q4 2023SEC
Q4 2023Feb 14, 202484$8.79BINCYONCACADvs. Q3 2023SEC
Q3 2023Nov 14, 2023101$17.4BSGENONCINCYvs. Q2 2023SEC
Q2 2023Aug 14, 2023107$17.3BSGENINCYONCvs. Q1 2023SEC
Q1 2023May 15, 2023105$18.4BSGENINCYONCvs. Q4 2022SEC
Q4 2022Feb 14, 2023113$16.7BSGENINCYONCvs. Q3 2022SEC
Q3 2022Nov 14, 2022115$15.3BSGENINCYONCvs. Q2 2022SEC
Q2 2022Aug 15, 2022117$17.6BSGENINCYONCvs. Q1 2022SEC
Q1 2022May 16, 2022118$17.4BSGENINCYONCvs. Q4 2021SEC
Q4 2021Feb 14, 2022121$20.6BSGENONCINCYvs. Q3 2021SEC
Q3 2021Nov 15, 2021122$22.8BSGENONCINCYvs. Q2 2021SEC
Q2 2021Aug 16, 2021120$22.8BSGENONCINCYvs. Q1 2021SEC
Q1 2021May 17, 2021126$23.1BSGENONCINCY–SEC

13D and 13G filings

Companies where Baker Bros. Advisors LP reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

23 companies, largest stake first.

Companies where Baker Bros. Advisors LP owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
KODKodiak Sciences Inc.13D/A32.80%20.1M shares–Mar 5, 20217 filingsDec 19, 2025SEC
ACADAcadia Pharmaceuticals Inc13D/A25.40%43.3M shares–Jan 17, 20233 filingsFeb 26, 2026SEC
SERASera Prognostics, Inc.13D16.10%5.50M shares–Jan 10, 20242 filingsFeb 14, 2025SEC
INCYIncyte Corp13D/A15.60%31.2M shares−0.10 ppfrom 15.70%May 18, 20219 filingsMay 11, 2026SEC
PRLDPrelude Therapeutics Inc13D/A15.50%10.3M shares−8.00 ppfrom 23.50%Jan 29, 20215 filingsApr 22, 2026SEC
REPLReplimune Group, Inc.13D/A11.80%11.1M shares−2.50 ppfrom 14.30%Feb 14, 20235 filingsAug 11, 2026SEC
KYMRKymera Therapeutics, Inc.13D/A10.90%8.68M shares+1.40 ppfrom 9.50%Feb 14, 20236 filingsDec 11, 2025SEC
ABCLAbCellera Biologics Inc.13G/A10.80%33.0M shares–Feb 14, 20243 filingsMay 7, 2026SEC
DBVTDBV Technologies S.A.13D/A9.99%25.6M shares−7.11 ppfrom 17.10%Jun 13, 20223 filingsJan 14, 2026SEC
GLUEMonte Rosa Therapeutics, Inc.13G/A9.99%8.88M shares+3.29 ppfrom 6.70%Feb 14, 20243 filingsMay 15, 2026SEC
CELCCelcuity Inc.13G9.99%4.88M shares0.00 ppfrom 9.99%Nov 14, 20247 filingsJul 16, 2026SEC
GRALGRAIL, Inc.13G/A9.80%4.03M shares+4.50 ppfrom 5.30%Feb 17, 20262 filingsMay 15, 2026SEC
RYTMRhythm Pharmaceuticals, Inc.13G/A8.90%5.60M shares–Feb 16, 20216 filingsMay 15, 2025SEC
ONCBeOne Medicines Ltd.13D/A7.80%115.9M shares−0.20 ppfrom 8.00%May 5, 20236 filingsSep 16, 2026SEC
NRIXNurix Therapeutics, Inc.13G/A7.20%7.53M shares–Feb 14, 20225 filingsFeb 17, 2026SEC
IMTXImmatics N.V.13G/A7.00%9.51M shares−2.95 ppfrom 9.95%Feb 14, 20227 filingsAug 14, 2026SEC
KNSAKiniksa Pharmaceuticals International, plc13D/A7.00%3.25M shares–Oct 8, 20242 filingsMay 26, 2026SEC
NGNENeurogene Inc.13G/A7.00%991.8K shares−2.96 ppfrom 9.96%Jul 19, 20236 filingsAug 14, 2025SEC
PRAXPraxis Precision Medicines, Inc.13G6.30%1.75M sharesNewMay 15, 20261 filingMay 15, 2026SEC
ALKSAlkermes plc.13G6.10%10.0M sharesNewFeb 17, 20261 filingFeb 17, 2026SEC
STOKStoke Therapeutics, Inc.13G/A5.80%3.34M shares–Nov 14, 20242 filingsFeb 17, 2026SEC
RVMDRevolution Medicines, Inc.13G5.30%11.4M shares+0.40 ppfrom 4.90%Aug 14, 20253 filingsAug 14, 2026SEC
IDYAIDEAYA Biosciences, Inc.13G5.20%5.01M sharesNewAug 14, 20261 filingAug 14, 2026SEC

Latest filings

248 filings on file made by Baker Bros. Advisors LP or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Baker Bros. Advisors LP
CompanyFiled (ET)FormStakeChangeEvent dateFiling
ONCBeOne Medicines Ltd.Sep 16, 20264:24 PM ET13D/A7.80%115.9M shares−0.20 ppfrom 8.00%Sep 14, 2026SEC
IDYAIDEAYA Biosciences, Inc.Aug 14, 20264:01 PM ET13G5.20%5.01M sharesNewJun 30, 2026SEC
RVMDRevolution Medicines, Inc.Aug 14, 20264:01 PM ET13G5.30%11.4M shares+0.40 ppfrom 4.90%Jun 30, 2026SEC
IMTXImmatics N.V.Aug 14, 20264:00 PM ET13G/A7.00%9.51M shares−2.95 ppfrom 9.95%Jun 30, 2026SEC
EWTXEdgewise Therapeutics, Inc.Aug 14, 20264:00 PM ET13G/A3.40%3.70M shares−3.50 ppfrom 6.90%Below 5%Jun 30, 2026SEC
CERSCerus CorpAug 14, 20264:00 PM ET13G/A3.20%6.42M shares−2.00 ppfrom 5.20%Below 5%Jun 30, 2026SEC
REPLReplimune Group, Inc.Aug 11, 20265:50 PM ET13D/A11.80%11.1M shares−2.50 ppfrom 14.30%Aug 9, 2026SEC
CELCCelcuity Inc.Jul 16, 20265:57 PM ET13G9.99%4.88M shares0.00 ppfrom 9.99%Jul 14, 2026SEC
CELCCelcuity Inc.Jul 16, 20265:51 PM ET13D/A9.99%4.88M shares−10.00 ppfrom 19.99%Jul 14, 2026SEC
ONCBeOne Medicines Ltd.Jun 15, 20264:40 PM ET13D/A8.00%115.9M shares0.00 ppfrom 8.00%Jun 11, 2026SEC
KNSAKiniksa Pharmaceuticals International, plcMay 26, 20265:04 PM ET13D/A7.00%3.25M shares–May 21, 2026SEC
GLUEMonte Rosa Therapeutics, Inc.May 15, 20264:18 PM ET13G/A9.99%8.88M shares+3.29 ppfrom 6.70%Mar 31, 2026SEC
GRALGRAIL, Inc.May 15, 20264:17 PM ET13G/A9.80%4.03M shares+4.50 ppfrom 5.30%Mar 31, 2026SEC
KALAKALA BIO, Inc.May 15, 20264:17 PM ET13G/A0.01%2.31K shares−9.98 ppfrom 9.99%Below 5%Mar 31, 2026SEC
PRAXPraxis Precision Medicines, Inc.May 15, 20264:17 PM ET13G6.30%1.75M sharesNewMar 31, 2026SEC
INCYIncyte CorpMay 11, 20264:59 PM ET13D/A15.60%31.2M shares−0.10 ppfrom 15.70%May 7, 2026SEC
ABCLAbCellera Biologics Inc.May 7, 20264:10 PM ET13G/A10.80%33.0M shares–Apr 30, 2026SEC
PRLDPrelude Therapeutics IncApr 22, 20264:22 PM ET13D/A15.50%10.3M shares−8.00 ppfrom 23.50%Apr 20, 2026SEC
ONCBeOne Medicines Ltd.Apr 16, 20264:32 PM ET13D/A8.00%115.9M shares–Apr 16, 2026SEC
CELCCelcuity Inc.Mar 24, 20264:06 PM ET13D/A19.99%9.58M shares+1.09 ppfrom 18.90%Mar 20, 2026SEC