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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
+3.6%
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
$22.8B
AUM Growth
-$295M
Cap. Flow
-$688M
Cap. Flow %
-3.02%
Top 10 Hldgs %
81.57%
Holding
135
New
6
Increased
16
Reduced
10
Closed
15

Top Buys

Rank Stock Value
1
VERV
Verve Therapeutics
VERV
+$58.8M
2
LEGN icon
Legend Biotech
LEGN
+$52.6M
3
HRTX icon
Heron Therapeutics
HRTX
+$34M
4
JBIO
Jade Biosciences
JBIO
+$32.6M
5
APLS
Apellis Pharmaceuticals
APLS
+$30.9M

Top Sells

Rank Stock Value
1
ALXN
Alexion Pharmaceuticals
ALXN
+$611M
2
NVTA
Invitae Corporation
NVTA
+$179M
3
CCXI
ChemoCentryx, Inc.
CCXI
+$33.6M
4
PTGX icon
Protagonist Therapeutics
PTGX
+$32.4M
5
ALT icon
Altimmune
ALT
+$23.1M

Sector Composition

Rank Sector Weight
1 Healthcare 99.26%
2 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CERS icon
26
Cerus
CERS
$566M
$81M 0.36%
13,713,195
– –
DBVT
27
DBV Technologies
DBVT
$914M
$79.8M 0.35%
1,461,426
– –
RYTM icon
28
Rhythm Pharmaceuticals
RYTM
$7.57B
$75.6M 0.33%
3,863,239
+383,366
+11% +$7.96M
TIL icon
29
Instil Bio
TIL
$51.4M
$75.2M 0.33%
194,685
– –
LEGN icon
30
Legend Biotech
LEGN
$4.24B
$68.3M 0.3%
1,664,534
+1,548,908
+1,340% +$52.6M
NBIX icon
31
Neurocrine Biosciences
NBIX
$15.5B
$65.9M 0.29%
676,975
– –
NRIX icon
32
Nurix Therapeutics
NRIX
$2.77B
$65.1M 0.29%
2,454,082
– –
INSM icon
33
Insmed
INSM
$27.5B
$61.4M 0.27%
2,156,001
– –
ALLK
34
DELISTED
Allakos
ALLK
$60M 0.26%
703,050
– –
ZYME icon
35
Zymeworks
ZYME
$2.05B
$59.3M 0.26%
1,708,472
– –
HZNP
36
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$56.1M 0.25%
599,110
– –
FMTX
37
DELISTED
Forma Therapeutics Holdings, Inc. Common Stock
FMTX
$50.4M 0.22%
2,024,876
– –
IMTX icon
38
Immatics
IMTX
$1.22B
$49.7M 0.22%
4,282,938
+290,182
+7% +$3.41M
MRUS
39
DELISTED
Merus
MRUS
$42.9M 0.19%
2,037,469
– –
RARE icon
40
Ultragenyx Pharmaceutical
RARE
$2.55B
$42.4M 0.19%
444,444
– –
ADAP
41
DELISTED
Adaptimmune Therapeutics
ADAP
$41.9M 0.18%
9,830,877
– –
KRYS icon
42
Krystal Biotech
KRYS
$10.3B
$41.3M 0.18%
607,735
-152,677
-20% -$10.7M
KNSA icon
43
Kiniksa Pharmaceuticals
KNSA
$6.17B
$39M 0.17%
2,799,577
– –
FLGT icon
44
Fulgent Genetics
FLGT
$548M
$37M 0.16%
401,016
– –
AXSM icon
45
Axsome Therapeutics
AXSM
$10.9B
$36.4M 0.16%
539,057
-89,357
-14% -$5.36M
NGNE icon
46
Neurogene
NGNE
$773M
$35.3M 0.15%
191,087
– –
BCAB icon
47
BioAtla
BCAB
$5.3M
$35M 0.15%
16,500
– –
ADCT icon
48
ADC Therapeutics
ADCT
$127M
$34.5M 0.15%
1,418,107
– –
ALGS icon
49
Aligos Therapeutics
ALGS
$41.7M
$32.8M 0.14%
64,400
– –
JBIO
50
Jade Biosciences
JBIO
$1.36B
$32.6M 0.14%
+40,816
New +$32.6M
1
2
3 4 5

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Julian Baker's Q2 2021 Portfolio in Review

As of Q2 2021, Julian Baker held 135 positions worth $22.8B, down 1.3% from $23.1B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Julian Baker withdrew a net $688M in Q2 2021, closing 15 positions and reducing 10 holdings. Its most notable exit was Alexion Pharmaceuticals, an estimated $611M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 99% of assets, down from 100% a quarter earlier, followed by Financials.

Against the trend, Julian Baker opened a new position in Verve Therapeutics worth $85.3M.

  • Julian Baker's largest Q2 2021 buy was Verve Therapeutics: 1,416,530 shares worth $85.3M.
  • Julian Baker added most to Legend Biotech in Q2 2021, an estimated $52.6M increase.
  • Julian Baker's biggest Q2 2021 reduction was Invitae Corporation, cutting an estimated $179M.
  • Julian Baker fully exited Alexion Pharmaceuticals in Q2 2021, selling an estimated $611M.
  • Julian Baker's ten largest holdings make up 82% of its $22.8B portfolio in Q2 2021.
  • Julian Baker opened 6 new positions and closed 15 in Q2 2021.
  • Julian Baker's portfolio value fell 1.3% quarter-over-quarter to $22.8B.

Based on Baker Bros. Advisors's 13F filing for Q2 2021, filed 16 Aug 2021.