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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
+4.49%
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
$9.36B
AUM Growth
-$287M
Cap. Flow
-$74.9M
Cap. Flow %
-0.8%
Top 10 Hldgs %
76.51%
Holding
102
New
8
Increased
20
Reduced
5
Closed
7

Top Buys

Rank Stock Value
1
INSM icon
Insmed
INSM
+$42.6M
2
BCYC
Bicycle Therapeutics
BCYC
+$31.8M
3
GRAL
GRAIL Inc
GRAL
+$26.5M
4
CRSP icon
CRISPR Therapeutics
CRSP
+$22M
5
RVMD icon
Revolution Medicines
RVMD
+$18.6M

Top Sells

Rank Stock Value
1
ONC
BeOne Medicines Ltd
ONC
+$212M
2
RYTM icon
Rhythm Pharmaceuticals
RYTM
+$17.4M
3
TNGX icon
Tango Therapeutics
TNGX
+$5.78M
4
CRNX icon
Crinetics Pharmaceuticals
CRNX
+$5.31M
5
BMEA icon
Biomea Fusion
BMEA
+$5.24M

Sector Composition

Rank Sector Weight
1 Healthcare 98.66%
2 Financials 0.04%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ROIV icon
26
Roivant Sciences
ROIV
$26.2B
$44.6M 0.48%
3,767,773
+969,057
+35% +$11.5M
SERA icon
27
Sera Prognostics
SERA
$84.4M
$44.2M 0.47%
5,434,399
– –
IMVT icon
28
Immunovant
IMVT
$9.16B
$42.3M 0.45%
1,707,881
+482,471
+39% +$13.7M
XENE icon
29
Xenon Pharmaceuticals
XENE
$5.88B
$39M 0.42%
993,679
– –
CELC icon
30
Celcuity
CELC
$4.58B
$35.1M 0.37%
2,678,553
+803,575
+43% +$11.3M
GLUE icon
31
Monte Rosa Therapeutics
GLUE
$1.22B
$34.1M 0.36%
4,916,095
– –
AKRO
32
DELISTED
Akero Therapeutics
AKRO
$30.5M 0.33%
1,097,082
– –
CERS icon
33
Cerus
CERS
$566M
$30M 0.32%
19,477,339
– –
GRAL
34
GRAIL Inc
GRAL
$3.55B
$29.1M 0.31%
+1,630,125
New +$26.5M
IDYA icon
35
IDEAYA Biosciences
IDYA
$3.83B
$27.3M 0.29%
1,062,123
– –
KRYS icon
36
Krystal Biotech
KRYS
$10.3B
$26.6M 0.28%
169,934
– –
CADL icon
37
Candel Therapeutics
CADL
$1B
$25.9M 0.28%
+2,981,983
New +$17.6M
PRAX icon
38
Praxis Precision Medicines
PRAX
$10.5B
$25.5M 0.27%
331,533
+8,428
+3% +$610K
IGMS
39
DELISTED
IGM Biosciences
IGMS
$25M 0.27%
4,094,304
+1,994
+0% +$23.7K
CNTA
40
DELISTED
Centessa Pharmaceuticals
CNTA
$20.6M 0.22%
1,227,178
– –
MRUS
41
DELISTED
Merus
MRUS
$18.9M 0.2%
450,000
+150,000
+50% +$7.2M
DYN icon
42
Dyne Therapeutics
DYN
$4.87B
$15.8M 0.17%
672,096
– –
NGNE icon
43
Neurogene
NGNE
$773M
$15.4M 0.16%
674,450
+218,435
+48% +$8.13M
XNCR icon
44
Xencor
XNCR
$2.07B
$15.4M 0.16%
670,431
– –
BCAX
45
Bicara Therapeutics
BCAX
$1.58B
$14.5M 0.16%
833,333
– –
PRLD icon
46
Prelude Therapeutics
PRLD
$529M
$12.9M 0.14%
10,123,824
– –
IONS icon
47
Ionis Pharmaceuticals
IONS
$9.93B
$12.5M 0.13%
357,915
+134,445
+60% +$5.03M
ALMS
48
Alumis Inc
ALMS
$3.13B
$12.3M 0.13%
1,562,500
– –
NMRA icon
49
Neumora Therapeutics
NMRA
$306M
$11M 0.12%
1,034,600
– –
DSGN icon
50
Design Therapeutics
DSGN
$938M
$10.8M 0.11%
1,743,725
– –
1
2
3 4

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Julian Baker's Q4 2024 Portfolio in Review

As of Q4 2024, Julian Baker held 102 positions worth $9.36B, down 3% from $9.65B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Julian Baker's Q4 2024 filing shows 8 new, 20 increased, 5 reduced and 7 closed positions. Its largest new stake was GRAIL Inc: 1,630,125 shares worth $29.1M. The largest sale was BeOne Medicines Ltd, an estimated $212M.

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

  • Julian Baker's largest Q4 2024 buy was GRAIL Inc: 1,630,125 shares worth $29.1M.
  • Julian Baker added most to Insmed in Q4 2024, an estimated $42.6M increase.
  • Julian Baker's biggest Q4 2024 reduction was BeOne Medicines Ltd, cutting an estimated $212M.
  • Julian Baker fully exited Tango Therapeutics in Q4 2024, selling an estimated $5.78M.
  • Julian Baker's ten largest holdings make up 77% of its $9.36B portfolio in Q4 2024.
  • Julian Baker opened 8 new positions and closed 7 in Q4 2024.
  • Julian Baker's portfolio value fell 3% quarter-over-quarter to $9.36B.

Based on Baker Bros. Advisors's 13F filing for Q4 2024, filed 14 Feb 2025.