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JB

Julian Baker Baker Bros. Advisors

AUM $20B
1-Year Est. Return 154.41%
 

Julian Baker is co-managing member of Baker Bros. Advisors, a firm renowned for deep specialization in biotechnology and life sciences. The firm is known for concentrated positions, long holding periods, and scientific diligence that goes well beyond typical generalist research. Baker Bros. filings are closely watched by healthcare investors for signals in clinical-stage and commercial biotech.

This Fund
S&P 500
This Quarter Est. Return
-9.76%
1 Year Est. Return
+154.41%
3 Year Est. Return
+448.58%
5 Year Est. Return
+670.61%
10 Year Est. Return
+4,743.65%
AUM
$16.2B
AUM Growth
-$2.57B
Cap. Flow
+$150M
Cap. Flow %
0.93%
Top 10 Hldgs %
86.32%
Holding
116
New
17
Increased
25
Reduced
19
Closed
6

Top Buys

Rank Stock Value
1
ALXN
Alexion Pharmaceuticals
ALXN
+$49.3M
2
ACAD icon
Acadia Pharmaceuticals
ACAD
+$43.3M
3
KOD icon
Kodiak Sciences
KOD
+$31.6M
4
MDGL icon
Madrigal Pharmaceuticals
MDGL
+$27.5M
5
ALLK
Allakos
ALLK
+$27.1M

Top Sells

Rank Stock Value
1
EXAS
Exact Sciences
EXAS
+$60M
2
BOLD
Audentes Therapeutics, Inc
BOLD
+$48.2M
3
ADPT icon
Adaptive Biotechnologies
ADPT
+$10.4M
4
QURE icon
uniQure
QURE
+$9.23M
5
NXTC icon
NextCure
NXTC
+$8.45M

Sector Composition

Rank Sector Weight
1 Healthcare 99.65%
2 Financials 0.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
AXSM icon
26
Axsome Therapeutics
AXSM
$10.9B
$52.3M 0.32%
889,757
+60,000
+7% +$4.89M
INSM icon
27
Insmed
INSM
$27.5B
$48.5M 0.3%
3,025,384
+580,119
+24% +$13.8M
KNSA icon
28
Kiniksa Pharmaceuticals
KNSA
$6.17B
$43.3M 0.27%
2,799,577
– –
RYTM icon
29
Rhythm Pharmaceuticals
RYTM
$7.57B
$41.2M 0.25%
2,708,200
– –
KRYS icon
30
Krystal Biotech
KRYS
$10.3B
$40.9M 0.25%
946,471
-88,203
-9% -$4.61M
NGNE icon
31
Neurogene
NGNE
$773M
$38.7M 0.24%
169,887
– –
CCXI
32
DELISTED
ChemoCentryx, Inc.
CCXI
$34.5M 0.21%
859,015
+119,999
+16% +$5.1M
ALLK
33
DELISTED
Allakos
ALLK
$32.7M 0.2%
735,469
+395,779
+117% +$27.1M
GWPH
34
DELISTED
GW Pharmaceuticals Plc American Depositary Shares
GWPH
$32.5M 0.2%
370,845
– –
AUPH icon
35
Aurinia Pharmaceuticals
AUPH
$2.22B
$24.7M 0.15%
1,701,929
– –
MRUS
36
DELISTED
Merus
MRUS
$24.7M 0.15%
2,037,469
– –
APLS
37
DELISTED
Apellis Pharmaceuticals
APLS
$24M 0.15%
896,551
+399,582
+80% +$14.2M
ASMB icon
38
Assembly Biosciences
ASMB
$700M
$22.9M 0.14%
128,468
– –
BCRX icon
39
BioCryst Pharmaceuticals
BCRX
$2.44B
$21.9M 0.13%
10,946,166
– –
KRRO icon
40
Korro Bio
KRRO
$194M
$21M 0.13%
23,603
-1,026
-4% -$1.11M
ADPT icon
41
Adaptive Biotechnologies
ADPT
$4.15B
$20.7M 0.13%
743,734
-371,677
-33% -$10.4M
ALKS icon
42
Alkermes
ALKS
$8.11B
$17.9M 0.11%
1,244,744
+451,614
+57% +$8.06M
QURE icon
43
uniQure
QURE
$3.36B
$16.9M 0.1%
357,083
-160,617
-31% -$9.23M
XNCR icon
44
Xencor
XNCR
$2.07B
$12.8M 0.08%
428,120
– –
URGN icon
45
UroGen Pharma
URGN
$2.29B
$12M 0.07%
672,912
-158,576
-19% -$4.28M
PTGX icon
46
Protagonist Therapeutics
PTGX
$9.99B
$11.9M 0.07%
1,679,164
+504,882
+43% +$3.78M
ADAP
47
DELISTED
Adaptimmune Therapeutics
ADAP
$10M 0.06%
+3,690,307
New +$12.2M
AIMT
48
DELISTED
Aimmune Therapeutics
AIMT
$9.72M 0.06%
673,908
– –
UROV
49
DELISTED
Urovant Sciences Ltd.
UROV
$9.22M 0.06%
1,000,000
– –
MIRM icon
50
Mirum Pharmaceuticals
MIRM
$5.87B
$8.17M 0.05%
583,333
+250,000
+75% +$4.1M
1
2
3 4 5

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Julian Baker's Q1 2020 Portfolio in Review

As of Q1 2020, Julian Baker held 116 positions worth $16.2B, down 14% from $18.8B the previous quarter. Its ten largest holdings account for 86% of the portfolio.

Julian Baker's Q1 2020 filing shows 17 new, 25 increased, 19 reduced and 6 closed positions. Its largest new stake was Adaptimmune Therapeutics: 3,690,307 shares worth $10M. The largest sale was Exact Sciences, an estimated $60M.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, down from 100% a quarter earlier, followed by Financials.

  • Julian Baker's largest Q1 2020 buy was Adaptimmune Therapeutics: 3,690,307 shares worth $10M.
  • Julian Baker added most to Alexion Pharmaceuticals in Q1 2020, an estimated $49.3M increase.
  • Julian Baker's biggest Q1 2020 reduction was Exact Sciences, cutting an estimated $60M.
  • Julian Baker fully exited Audentes Therapeutics, Inc in Q1 2020, selling an estimated $48.2M.
  • Julian Baker's ten largest holdings make up 86% of its $16.2B portfolio in Q1 2020.
  • Julian Baker opened 17 new positions and closed 6 in Q1 2020.
  • Julian Baker's portfolio value fell 14% quarter-over-quarter to $16.2B.

Based on Baker Bros. Advisors's 13F filing for Q1 2020, filed 15 May 2020.