Baker Bros. Advisors Lp
- Regulatory AUM
- $28.1B
- Discretionary
- $28.1B
- Clients
- 2
- Avg AUM / client
- $14.1B
- Accounts
- 2
- Employees
- 60
AUM over time
Annual snapshots from Form ADV filings · as of Mar 27, 2026
Investments (13F portfolio — 84 positions, $17,415,689,929)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | Incyte Corporation | COM | $2,893,664,057 | 30,744,412 | 16.6% | 10.3% |
| 2 | Be One Medicines Ltd. | SPONSORED ADS | $2,613,054,769 | 8,799,053 | 15.0% | 9.28% |
| 3 | Insmed Incorporated | COM PAR $.01 | $1,213,500,071 | 7,421,111 | 6.97% | 4.31% |
| 4 | Madrigal Pharmaceuticals, Inc. | COM | $1,121,116,222 | 2,141,701 | 6.44% | 3.98% |
| 5 | Acadia Pharmaceuticals Inc. | COM | $954,880,319 | 42,896,690 | 5.48% | 3.39% |
| 6 | Revolution Medicines, Inc. | COM | $929,258,468 | 9,555,357 | 5.34% | 3.3% |
| 7 | Celcuity Inc. | COM | $903,508,499 | 7,915,792 | 5.19% | 3.21% |
| 8 | Kodiak Sciences Inc. | COM | $759,319,370 | 19,919,186 | 4.36% | 2.7% |
| 9 | Kymera Therapeutics, Inc. | COM | $721,061,686 | 8,657,242 | 4.14% | 2.56% |
| 10 | Summit Therapeutics Inc. | COM | $689,974,554 | 36,391,063 | 3.96% | 2.45% |
| 11 | Praxis Precision Medicines, Inc. | COM | $564,862,864 | 1,753,198 | 3.24% | 2.01% |
| 12 | Rhythm Pharmaceuticals, Inc. | COM | $487,421,887 | 5,604,483 | 2.8% | 1.73% |
| 13 | Alkermes Plc | SHS | $354,033,761 | 10,012,267 | 2.03% | 1.26% |
| 14 | Grail, Inc. | COM | $208,198,772 | 4,028,614 | 1.2% | 0.74% |
| 15 | Edgewise Therapeutics, Inc. | COM | $207,142,110 | 6,575,940 | 1.19% | 0.74% |
| 16 | Ionis Pharmaceuticals, Inc. | COM | $153,763,820 | 2,047,727 | 0.88% | 0.55% |
| 17 | Kiniksa Pharmaceuticals International, Plc | ORD SHS CL A | $136,083,745 | 2,826,246 | 0.78% | 0.48% |
| 18 | Immunovant, Inc. | COM | $135,573,764 | 5,457,881 | 0.78% | 0.48% |
| 19 | Roivant Sciences Ltd. | SHS | $134,835,927 | 4,867,723 | 0.77% | 0.48% |
| 20 | Ideaya Biosciences, Inc. | COM | $131,497,880 | 3,946,515 | 0.76% | 0.47% |
| 21 | Arrowhead Pharmaceuticals, Inc. | COM | $124,947,494 | 1,992,783 | 0.72% | 0.44% |
| 22 | Stoke Therapeutics, Inc. | COM | $108,642,854 | 3,336,697 | 0.62% | 0.39% |
| 23 | Immatics N.V. | SHS | $107,420,259 | 10,916,693 | 0.62% | 0.38% |
| 24 | Ab Cellera Biologics Inc. | COM | $105,663,024 | 30,275,938 | 0.61% | 0.38% |
| 25 | Abivax S.A. | SPONSORED ADS | $97,519,885 | 875,796 | 0.56% | 0.35% |
Top 25 of 84 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 2 | $28.1B | 100.0% |
Private funds (2)
Reported in Form ADV Section 7.B.(1), filing of Mar 2024 · $22.0B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Baker Brothers Life Sciences, L.P. master | Hedge Fund | Delaware | $20.5B | 330 |
| 667, L.P. | Hedge Fund | Delaware | $1.5B | 9 |
People (4)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Baker, Felix, James | Limited Partner | Jan 2000 (27y) | ≈ 0% – 3.75% via Baker Bros. Advisors (Gp), Llc | |
| Baker, Julian, Charles | Limited Partner | Jan 2000 (27y) | ≈ 0% – 3.75% via Baker Bros. Advisors (Gp), Llc | |
| Lessing, Scott, Lawrence | President, Chief Compliance Officer | Feb 2011 (16y) | Less than 5% | |
| Toohey, Alexandra, Ann | Chief Financial Officer | Jan 2014 (13y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Baker Bros. Advisors (Gp), Llc | General Partner | Jan 2000 | A | Less than 5% |
Undisclosed: 0% – 50% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Baker, Felix, James: 50% – 75% of Baker Bros. Advisors (Gp), Llc × 0% – 5% direct ≈ 0% – 3.75% of the firm
- Baker, Julian, Charles: 50% – 75% of Baker Bros. Advisors (Gp), Llc × 0% – 5% direct ≈ 0% – 3.75% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (2, $22.0B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Baker Brothers Life Sciences, L.P. | Hedge Fund | $20.5B | $40.0M | 330 |
| 667, L.P. | Hedge Fund | $1.5B | $40.0M | 9 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/27/2026 | 1.54 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Reported custodians
- State Street $16.5M (0% of AUM) Mar 2022
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 27, 2026.
View current Form ADV (SEC/IAPD) ↗