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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
+22.23%
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
$20B
AUM Growth
+$2.54B
Cap. Flow
+$128M
Cap. Flow %
0.64%
Top 10 Hldgs %
72.82%
Holding
92
New
8
Increased
16
Reduced
7
Closed
9

Top Buys

Rank Stock Value
1
RVMD icon
Revolution Medicines
RVMD
+$276M
2
INSM icon
Insmed
INSM
+$166M
3
IDYA icon
IDEAYA Biosciences
IDYA
+$32.6M
4
FTH
Faeth Therapeutics
FTH
+$29.8M
5
RLAY icon
Relay Therapeutics
RLAY
+$24.2M

Top Sells

Rank Stock Value
1
EWTX icon
Edgewise Therapeutics
EWTX
+$99.1M
2
ABVX
Abivax
ABVX
+$97.5M
3
SMMT icon
Summit Therapeutics
SMMT
+$63.9M
4
SYRE icon
Spyre Therapeutics
SYRE
+$50.4M
5
CNTA
Centessa Pharmaceuticals
CNTA
+$26.6M

Sector Composition

Rank Sector Weight
1 Healthcare 99.65%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GENB
51
Generate Biomedicines
GENB
$2.07B
$24M 0.12%
1,423,602
– –
DBVT
52
DBV Technologies
DBVT
$914M
$24M 0.12%
1,461,425
– –
XENE icon
53
Xenon Pharmaceuticals
XENE
$5.88B
$22.3M 0.11%
370,208
– –
TECX
54
Tectonic Therapeutic
TECX
$736M
$20.9M 0.1%
607,788
– –
CERS icon
55
Cerus
CERS
$566M
$18.7M 0.09%
6,395,431
-3,612,914
-36% -$8.76M
CTMX icon
56
CytomX Therapeutics
CTMX
$715M
$18.7M 0.09%
4,975,826
– –
DYN icon
57
Dyne Therapeutics
DYN
$4.87B
$18.1M 0.09%
813,449
– –
CYTK icon
58
Cytokinetics
CYTK
$10.7B
$18M 0.09%
+211,267
New +$15.2M
XNCR icon
59
Xencor
XNCR
$2.07B
$17.7M 0.09%
1,102,106
– –
SION
60
Sionna Therapeutics
SION
$239M
$17.6M 0.09%
400,000
– –
NTLA icon
61
Intellia Therapeutics
NTLA
$1.8B
$15.7M 0.08%
+930,232
New +$13M
PBLS
62
Parabilis Medicines Inc
PBLS
$4.86B
$13.7M 0.07%
+500,000
New +$13.8M
MPLT
63
MapLight Therapeutics
MPLT
$520M
$13.1M 0.07%
364,705
– –
AVLN
64
Avalyn Pharma
AVLN
$1.7B
$11.5M 0.06%
+350,000
New +$10.1M
EVMN
65
Evommune Inc
EVMN
$509M
$11.3M 0.06%
847,390
– –
BNTX icon
66
BioNTech
BNTX
$29.3B
$11.1M 0.06%
119,743
– –
TNGX icon
67
Tango Therapeutics
TNGX
$4.03B
$10.4M 0.05%
+333,333
New +$8.24M
AVTX icon
68
Avalo Therapeutics
AVTX
$1.06B
$10.2M 0.05%
+550,000
New +$8.69M
SERA icon
69
Sera Prognostics
SERA
$84.4M
$10M 0.05%
5,498,170
– –
VSTM icon
70
Verastem
VSTM
$624M
$9.55M 0.05%
2,499,338
+1,914,581
+327% +$9.26M
SGMT icon
71
Sagimet Biosciences
SGMT
$637M
$7.37M 0.04%
952,996
– –
EIKN
72
Eikon Therapeutics
EIKN
$617M
$7.25M 0.04%
555,555
– –
LBRX
73
LB Pharmaceuticals
LBRX
$1.54B
$6.49M 0.03%
200,000
– –
VTVT icon
74
vTv Therapeutics
VTVT
$132M
$5.58M 0.03%
148,314
– –
WVE icon
75
Wave Life Sciences
WVE
$1.04B
$4.78M 0.02%
822,638
– –
1 2
3
4

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Julian Baker's Q2 2026 Portfolio in Review

As of Q2 2026, Julian Baker held 92 positions worth $20B, up 15% from $17.4B the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Julian Baker's Q2 2026 filing shows 8 new, 16 increased, 7 reduced and 9 closed positions. Its largest new stake was Faeth Therapeutics: 1,286,411 shares worth $32.2M. The largest sale was Edgewise Therapeutics, an estimated $99.1M.

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

  • Julian Baker's largest Q2 2026 buy was Faeth Therapeutics: 1,286,411 shares worth $32.2M.
  • Julian Baker added most to Revolution Medicines in Q2 2026, an estimated $276M increase.
  • Julian Baker's biggest Q2 2026 reduction was Edgewise Therapeutics, cutting an estimated $99.1M.
  • Julian Baker fully exited Abivax in Q2 2026, selling an estimated $97.5M.
  • Julian Baker's ten largest holdings make up 73% of its $20B portfolio in Q2 2026.
  • Julian Baker opened 8 new positions and closed 9 in Q2 2026.
  • Julian Baker's portfolio value rose 15% quarter-over-quarter to $20B.

Based on Baker Bros. Advisors's 13F filing for Q2 2026, filed 14 Aug 2026.