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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
+25.43%
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
$16.7B
AUM Growth
+$1.38B
Cap. Flow
-$374M
Cap. Flow %
-2.25%
Top 10 Hldgs %
86.98%
Holding
128
New
13
Increased
17
Reduced
8
Closed
15

Top Buys

Rank Stock Value
1
SWTX
SpringWorks Therapeutics
SWTX
+$37.7M
2
PRME icon
Prime Medicine
PRME
+$18.6M
3
DNLI icon
Denali Therapeutics
DNLI
+$14.9M
4
REPL icon
Replimune Group
REPL
+$14.2M
5
SPRY icon
ARS Pharmaceuticals
SPRY
+$13M

Top Sells

Rank Stock Value
1
GBT
Global Blood Therapeutics, Inc.
GBT
+$254M
2
CCXI
ChemoCentryx, Inc.
CCXI
+$92.6M
3
TVTX icon
Travere Therapeutics
TVTX
+$44M
4
FMTX
Forma Therapeutics Holdings, Inc. Common Stock
FMTX
+$37.6M
5
RLMD icon
Relmada Therapeutics
RLMD
+$18.3M

Sector Composition

Rank Sector Weight
1 Healthcare 99.83%
2 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NRIX icon
26
Nurix Therapeutics
NRIX
$2.77B
$42.6M 0.26%
3,882,125
– –
KNSA icon
27
Kiniksa Pharmaceuticals
KNSA
$6.17B
$41.9M 0.25%
2,799,577
– –
SWTX
28
DELISTED
SpringWorks Therapeutics
SWTX
$39.8M 0.24%
+1,528,538
New +$37.7M
IDYA icon
29
IDEAYA Biosciences
IDYA
$3.83B
$30.3M 0.18%
1,668,355
– –
DNLI icon
30
Denali Therapeutics
DNLI
$3.98B
$30.3M 0.18%
1,088,738
+500,000
+85% +$14.9M
XENE icon
31
Xenon Pharmaceuticals
XENE
$5.88B
$29.6M 0.18%
751,639
– –
VERV
32
DELISTED
Verve Therapeutics
VERV
$27.4M 0.16%
1,416,530
– –
DICE
33
DELISTED
DICE Therapeutics, Inc. Common Stock
DICE
$26.9M 0.16%
862,207
+273,972
+47% +$8.93M
TVTX icon
34
Travere Therapeutics
TVTX
$6.19B
$25.8M 0.15%
1,225,255
-2,074,754
-63% -$44M
BCYC
35
Bicycle Therapeutics
BCYC
$306M
$25M 0.15%
843,814
– –
ANAB icon
36
AnaptysBio
ANAB
$1.71B
$24M 0.14%
775,924
+348,745
+82% +$9.85M
KRYS icon
37
Krystal Biotech
KRYS
$10.3B
$24M 0.14%
302,716
-119,469
-28% -$8.87M
DBVT
38
DBV Technologies
DBVT
$914M
$22.4M 0.13%
1,461,426
– –
KYNB
39
Kyntra Bio
KYNB
$30.4M
$22M 0.13%
55,008
+22,379
+69% +$8.57M
RARE icon
40
Ultragenyx Pharmaceutical
RARE
$2.55B
$21.8M 0.13%
470,974
– –
HRTX icon
41
Heron Therapeutics
HRTX
$60.4M
$20.3M 0.12%
8,131,678
– –
TSVT
42
DELISTED
2seventy bio
TSVT
$19.3M 0.12%
2,062,744
– –
PRME icon
43
Prime Medicine
PRME
$615M
$19.1M 0.11%
+1,028,466
New +$18.6M
BMEA icon
44
Biomea Fusion
BMEA
$99.3M
$17.7M 0.11%
2,104,559
– –
BLUE
45
DELISTED
bluebird bio
BLUE
$17.3M 0.1%
124,986
– –
SPRY icon
46
ARS Pharmaceuticals
SPRY
$547M
$17.1M 0.1%
+2,006,451
New +$13M
NVTA
47
DELISTED
Invitae Corporation
NVTA
$15.6M 0.09%
8,402,035
– –
OPT
48
DELISTED
Opthea Limited American Depositary Shares
OPT
$14.4M 0.09%
2,691,391
– –
ADAP
49
DELISTED
Adaptimmune Therapeutics
ADAP
$14.4M 0.09%
9,830,877
– –
CBAY
50
DELISTED
Cymabay Therapeutics
CBAY
$13.6M 0.08%
2,170,464
– –
1
2
3 4 5

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Julian Baker's Q4 2022 Portfolio in Review

As of Q4 2022, Julian Baker held 128 positions worth $16.7B, up 9.1% from $15.3B the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Julian Baker's Q4 2022 filing shows 13 new, 17 increased, 8 reduced and 15 closed positions. Its largest new stake was SpringWorks Therapeutics: 1,528,538 shares worth $39.8M. The largest sale was Global Blood Therapeutics, Inc., an estimated $254M.

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 2022 buy was SpringWorks Therapeutics: 1,528,538 shares worth $39.8M.
  • Julian Baker added most to Denali Therapeutics in Q4 2022, an estimated $14.9M increase.
  • Julian Baker's biggest Q4 2022 reduction was Travere Therapeutics, cutting an estimated $44M.
  • Julian Baker fully exited Global Blood Therapeutics, Inc. in Q4 2022, selling an estimated $254M.
  • Julian Baker's ten largest holdings make up 87% of its $16.7B portfolio in Q4 2022.
  • Julian Baker opened 13 new positions and closed 15 in Q4 2022.
  • Julian Baker's portfolio value rose 9.1% quarter-over-quarter to $16.7B.

Based on Baker Bros. Advisors's 13F filing for Q4 2022, filed 14 Feb 2023.