Julian Baker Baker Bros. Advisors
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
AbCellera Biologics
ABCL
|
+$478M |
| 2 |
NVTA
Invitae Corporation
NVTA
|
+$181M |
| 3 |
Kodiak Sciences
KOD
|
+$170M |
| 4 |
Ultragenyx Pharmaceutical
RARE
|
+$52.7M |
| 5 |
OPT
Opthea Limited American Depositary Shares
OPT
|
+$41.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ONC
BeOne Medicines Ltd
ONC
|
+$450M |
| 2 |
MYOK
MyoKardia, Inc. Common Stock
MYOK
|
+$410M |
| 3 |
EXAS
Exact Sciences
EXAS
|
+$188M |
| 4 |
IMMU
Immunomedics Inc
IMMU
|
+$20.2M |
| 5 |
AMRN
Amarin Corp
AMRN
|
+$19.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 99.87% |
| 2 | Financials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
Rhythm Pharmaceuticals
RYTM
$7.67B
| $68.8M | 0.26% |
2,314,873
-156,282
| -6% | -$3.97M |
|
27
Neurocrine Biosciences
NBIX
$15.5B
| $64.9M | 0.24% |
676,975
| – | – |
|
28
Axsome Therapeutics
AXSM
$10.8B
| $63.5M | 0.24% |
778,834
-180,923
| -19% | -$13.5M |
|
|
29
Ultragenyx Pharmaceutical
RARE
$2.53B
| $61.5M | 0.23% |
+444,444
| New | +$52.7M |
|
30
Nurix Therapeutics
NRIX
$2.73B
| $58.8M | 0.22% |
1,788,921
| – | – |
|
|
BCEL
31
DELISTED
Atreca, Inc. Class A Common Stock
BCEL
| $57.1M | 0.21% |
3,532,760
| – | – |
|
32
Neurogene
NGNE
$798M
| $53.9M | 0.2% |
191,087
| – | – |
|
|
ADAP
33
DELISTED
Adaptimmune Therapeutics
ADAP
| $53M | 0.2% |
9,830,877
+3,500,523
| +55% | +$19M |
|
|
APLS
34
DELISTED
Apellis Pharmaceuticals
APLS
| $51.3M | 0.19% |
896,551
| – | – |
|
35
Kiniksa Pharmaceuticals
KNSA
$6.19B
| $49.5M | 0.19% |
2,799,577
| – | – |
|
36
ADC Therapeutics
ADCT
$125M
| $45.4M | 0.17% |
1,418,107
-269,393
| -16% | -$8.83M |
|
37
Aligos Therapeutics
ALGS
$42.7M
| $44.5M | 0.17% |
+64,400
| New | +$31.4M |
|
|
HZNP
38
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $43.8M | 0.17% |
599,110
-67,390
| -10% | -$5.01M |
|
39
Krystal Biotech
KRYS
$10.1B
| $41.9M | 0.16% |
698,874
-76,318
| -10% | -$3.81M |
|
|
CCXI
40
DELISTED
ChemoCentryx, Inc.
CCXI
| $40.7M | 0.15% |
656,710
-243,111
| -27% | -$13.9M |
|
|
GBT
41
DELISTED
Global Blood Therapeutics, Inc.
GBT
| $39.9M | 0.15% |
920,375
| – | – |
|
|
DBVT
42
DBV Technologies
DBVT
$893M
| $38.3M | 0.14% |
1,461,426
| – | – |
|
|
OPT
43
DELISTED
Opthea Limited American Depositary Shares
OPT
| $37.1M | 0.14% |
+3,308,705
| New | +$41.8M |
|
|
MRUS
44
DELISTED
Merus
MRUS
| $35.7M | 0.13% |
2,037,469
| – | – |
|
45
Alkermes
ALKS
$8.11B
| $30.6M | 0.12% |
1,535,149
+176,148
| +13% | +$3.22M |
|
46
Korro Bio
KRRO
$195M
| $30.2M | 0.11% |
17,130
-1,861
| -10% | -$2.46M |
|
47
Protagonist Therapeutics
PTGX
$9.92B
| $29M | 0.11% |
1,436,192
-160,006
| -10% | -$3.44M |
|
48
BioAtla
BCAB
$5.66M
| $28.1M | 0.11% |
+16,500
| New | +$27.6M |
|
|
RETA
49
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
| $27.7M | 0.1% |
223,976
+170,793
| +321% | +$22.4M |
|
|
LONA
50
LeonaBio Inc
LONA
$72.9M
| $27.6M | 0.1% |
80,637
-7,598
| -9% | -$1.79M |
|
Similar funds
Julian Baker's Q4 2020 Portfolio in Review
As of Q4 2020, Julian Baker held 133 positions worth $26.5B, up 6.1% from $25B the previous quarter. Its ten largest holdings account for 84% of the portfolio.
Julian Baker's Q4 2020 filing shows 14 new, 16 increased, 60 reduced and 7 closed positions. Its largest new stake was AbCellera Biologics: 10,450,180 shares worth $421M. The largest sale was BeOne Medicines Ltd, an estimated $450M.
By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 100% a quarter earlier, followed by Financials.
- Julian Baker's largest Q4 2020 buy was AbCellera Biologics: 10,450,180 shares worth $421M.
- Julian Baker added most to Invitae Corporation in Q4 2020, an estimated $181M increase.
- Julian Baker's biggest Q4 2020 reduction was BeOne Medicines Ltd, cutting an estimated $450M.
- Julian Baker fully exited MyoKardia, Inc. Common Stock in Q4 2020, selling an estimated $410M.
- Julian Baker's ten largest holdings make up 84% of its $26.5B portfolio in Q4 2020.
- Julian Baker opened 14 new positions and closed 7 in Q4 2020.
- Julian Baker's portfolio value rose 6.1% quarter-over-quarter to $26.5B.
Based on Baker Bros. Advisors's 13F filing for Q4 2020, filed 16 Feb 2021.