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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
-9.09%
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
$17.4B
AUM Growth
-$3.15B
Cap. Flow
+$225M
Cap. Flow %
1.29%
Top 10 Hldgs %
85.01%
Holding
121
New
2
Increased
15
Reduced
4
Closed
3

Top Buys

Rank Stock Value
1
INCY icon
Incyte
INCY
+$184M
2
KOD icon
Kodiak Sciences
KOD
+$48.8M
3
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$29.2M
4
TSVT
2seventy bio
TSVT
+$20.9M
5
REPL icon
Replimune Group
REPL
+$19.2M

Top Sells

Rank Stock Value
1
CCXI
ChemoCentryx, Inc.
CCXI
+$20.1M
2
LEGN icon
Legend Biotech
LEGN
+$19M
3
OPT
Opthea Limited American Depositary Shares
OPT
+$3.19M
4
ALBO
Albireo Pharma Inc
ALBO
+$2.43M
5
GMDA
Gamida Cell Ltd. Ordinary Shares
GMDA
+$1.55M

Sector Composition

Rank Sector Weight
1 Healthcare 99.5%
2 Financials 0.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
KRYS icon
26
Krystal Biotech
KRYS
$10.3B
$53.7M 0.31%
807,735
– –
INSM icon
27
Insmed
INSM
$27.5B
$50.7M 0.29%
2,156,001
– –
PACB icon
28
Pacific Biosciences
PACB
$420M
$49.5M 0.28%
5,444,963
– –
RYTM icon
29
Rhythm Pharmaceuticals
RYTM
$7.57B
$47.5M 0.27%
4,125,062
+261,823
+7% +$2.3M
HRTX icon
30
Heron Therapeutics
HRTX
$60.4M
$46.5M 0.27%
8,131,678
– –
TRDA icon
31
Entrada Therapeutics
TRDA
$295M
$44.2M 0.25%
4,704,419
– –
TIL icon
32
Instil Bio
TIL
$51.4M
$41.9M 0.24%
194,685
– –
ALKS icon
33
Alkermes
ALKS
$8.11B
$39.5M 0.23%
1,500,000
– –
KDNY
34
DELISTED
Chinook Therapeutics, Inc. Common Stock
KDNY
$38.2M 0.22%
2,334,102
– –
VSTM icon
35
Verastem
VSTM
$624M
$38.1M 0.22%
2,249,075
+458,106
+26% +$7.89M
JBIO
36
Jade Biosciences
JBIO
$1.36B
$37.9M 0.22%
59,143
+6,806
+13% +$2.64M
IMTX icon
37
Immatics
IMTX
$1.22B
$35.3M 0.2%
4,423,731
– –
TSVT
38
DELISTED
2seventy bio
TSVT
$35.2M 0.2%
2,062,744
+1,229,508
+148% +$20.9M
NRIX icon
39
Nurix Therapeutics
NRIX
$2.77B
$34.4M 0.2%
2,454,082
– –
VERV
40
DELISTED
Verve Therapeutics
VERV
$32.3M 0.19%
1,416,530
– –
RARE icon
41
Ultragenyx Pharmaceutical
RARE
$2.55B
$32.3M 0.19%
444,444
– –
KNSA icon
42
Kiniksa Pharmaceuticals
KNSA
$6.17B
$27.8M 0.16%
2,799,577
– –
REPL icon
43
Replimune Group
REPL
$1.39B
$27.4M 0.16%
1,611,703
+1,018,308
+172% +$19.2M
AXSM icon
44
Axsome Therapeutics
AXSM
$10.9B
$25.3M 0.15%
610,970
– –
DBVT
45
DBV Technologies
DBVT
$914M
$23.2M 0.13%
1,461,426
– –
DSGN icon
46
Design Therapeutics
DSGN
$938M
$23.2M 0.13%
1,436,636
– –
CCXI
47
DELISTED
ChemoCentryx, Inc.
CCXI
$23M 0.13%
916,862
-714,404
-44% -$20.1M
XENE icon
48
Xenon Pharmaceuticals
XENE
$5.88B
$23M 0.13%
751,639
– –
AFMD
49
DELISTED
Affimed
AFMD
$22.5M 0.13%
515,317
+250,000
+94% +$10.9M
ADAP
50
DELISTED
Adaptimmune Therapeutics
ADAP
$20.3M 0.12%
9,830,877
– –
1
2
3 4 5

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Julian Baker's Q1 2022 Portfolio in Review

As of Q1 2022, Julian Baker held 121 positions worth $17.4B, down 15% from $20.6B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Trading was light in Q1 2022: portfolio turnover was 4.1%. Julian Baker opened 2 new positions and exited 3, leaving the 121-position portfolio largely intact.

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

  • Julian Baker's largest Q1 2022 buy was Vera Therapeutics: 333,333 shares worth $7.83M.
  • Julian Baker added most to Incyte in Q1 2022, an estimated $184M increase.
  • Julian Baker's biggest Q1 2022 reduction was ChemoCentryx, Inc., cutting an estimated $20.1M.
  • Julian Baker fully exited Albireo Pharma Inc in Q1 2022, selling an estimated $2.43M.
  • Julian Baker's ten largest holdings make up 85% of its $17.4B portfolio in Q1 2022.
  • Julian Baker opened 2 new positions and closed 3 in Q1 2022.
  • Julian Baker's portfolio value fell 15% quarter-over-quarter to $17.4B.

Based on Baker Bros. Advisors's 13F filing for Q1 2022, filed 16 May 2022.