Tracking Baker Brothers Portfolio - Q3 2025 Update
Summarize this article with:
John Vincent25.92K FollowersFollow5ShareSavePlay(17min)CommentsSummaryBaker Brothers’ Q3 2025 13F portfolio rose to $13.84B, with high concentration in BeOne Medicines, Incyte, Madrigal Pharma, Insmed, and ACADIA Pharma.INCY, now ~19% of the portfolio, saw a marginal increase and remains a core conviction, with Baker Brothers controlling ~16% of the company.Significant stake increases included Madrigal Pharma, Celcuity, Alkermes, and select emerging biotech names, reflecting conviction in their upside potential.Insmed was notably reduced, while several high-ownership positions—such as ACAD, SMMT, RYTM, and KOD—were maintained, underscoring a disciplined, concentrated approach. iQoncept/iStock via Getty Images This article is part of a series that provides an ongoing analysis of the changes made to Baker Brothers’ 13F stock portfolio on a quarterly basis. It is based on Baker Brothers’ regulatory 13F FormThis article was written byJohn Vincent25.92K FollowersFollowFocused on analyzing 13F reports & building tools to help DIY investors generate absolute returns through exploiting inefficiency, volatility, and momentum.
Asymmetric Bets Focus. Broader commentary for DIY investors at Substack: https://diyabsolutereturns.substack.com/ . Check out my new book Demystifying Bitcoin - Paving the Way to Global Digital Money: https://t.co/edXb1HbihuAnalyst’s Disclosure:I/we have a beneficial long position in the shares of INCY, ACAD either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.