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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
RETA
51
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
$31.7M 0.14%
223,976
– –
NVAX icon
52
Novavax
NVAX
$1.47B
$30.5M 0.13%
143,756
– –
ALKS icon
53
Alkermes
ALKS
$8.11B
$30.1M 0.13%
1,228,170
– –
BCEL
54
DELISTED
Atreca, Inc. Class A Common Stock
BCEL
$30.1M 0.13%
3,532,760
– –
DSGN icon
55
Design Therapeutics
DSGN
$938M
$28.6M 0.13%
1,436,636
– –
OPT
56
DELISTED
Opthea Limited American Depositary Shares
OPT
$27.1M 0.12%
3,412,062
+103,357
+3% +$920K
ACHL
57
DELISTED
Achilles Therapeutics
ACHL
$25.4M 0.11%
2,591,366
– –
SYRE icon
58
Spyre Therapeutics
SYRE
$9.39B
$23.7M 0.1%
136,404
– –
PTGX icon
59
Protagonist Therapeutics
PTGX
$9.99B
$20.4M 0.09%
455,276
-980,916
-68% -$32.4M
CYT
60
DELISTED
Cyteir Therapeutics, Inc. Common Stock
CYT
$17.4M 0.08%
+812,640
New +$15.2M
CRNX icon
61
Crinetics Pharmaceuticals
CRNX
$8.99B
$17.4M 0.08%
920,656
+304,136
+49% +$5.34M
OTIC
62
DELISTED
Otonomy, Inc.
OTIC
$16.1M 0.07%
7,222,474
+2,400
+0% +$5.54K
KDNY
63
DELISTED
Chinook Therapeutics, Inc. Common Stock
KDNY
$15.3M 0.07%
1,080,393
+331,700
+44% +$5.31M
AUPH icon
64
Aurinia Pharmaceuticals
AUPH
$2.22B
$14.5M 0.06%
1,119,962
-290,102
-21% -$3.7M
ALBO
65
DELISTED
Albireo Pharma Inc
ALBO
$14.5M 0.06%
412,466
– –
XENE icon
66
Xenon Pharmaceuticals
XENE
$5.88B
$14M 0.06%
751,639
– –
MIRM icon
67
Mirum Pharmaceuticals
MIRM
$5.87B
$11.2M 0.05%
647,313
– –
ANAB icon
68
AnaptysBio
ANAB
$1.71B
$11.1M 0.05%
427,179
– –
EWTX icon
69
Edgewise Therapeutics
EWTX
$4.8B
$10.7M 0.05%
500,000
– –
ALT icon
70
Altimmune
ALT
$605M
$10.6M 0.05%
1,072,038
-1,686,480
-61% -$23.1M
CBAY
71
DELISTED
Cymabay Therapeutics
CBAY
$9.46M 0.04%
2,170,464
– –
GTH
72
DELISTED
Genetron Holdings Limited ADS
GTH
$9.17M 0.04%
151,769
– –
CNTA
73
DELISTED
Centessa Pharmaceuticals
CNTA
$8.88M 0.04%
+400,000
New +$9.4M
ISEE
74
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
$8.87M 0.04%
1,406,037
– –
LONA
75
LeonaBio Inc
LONA
$72.4M
$8.26M 0.04%
80,637
– –
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.