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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
+27.7%
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
$18.4B
AUM Growth
+$1.73B
Cap. Flow
-$958M
Cap. Flow %
-5.21%
Top 10 Hldgs %
90.4%
Holding
118
New
7
Increased
23
Reduced
7
Closed
13

Top Buys

Rank Stock Value
1
RVMD icon
Revolution Medicines
RVMD
+$60.8M
2
SWTX
SpringWorks Therapeutics
SWTX
+$35.8M
3
ROIV icon
Roivant Sciences
ROIV
+$33.4M
4
KYNB
Kyntra Bio
KYNB
+$26.7M
5
BPMC
Blueprint Medicines
BPMC
+$15M

Top Sells

Rank Stock Value
1
ASND icon
Ascendis Pharma A/S
ASND
+$605M
2
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$395M
3
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$110M
4
TVTX icon
Travere Therapeutics
TVTX
+$25.8M
5
KDNY
Chinook Therapeutics, Inc. Common Stock
KDNY
+$25.7M

Sector Composition

Rank Sector Weight
1 Healthcare 99.99%
2 Financials 0.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SMMT icon
51
Summit Therapeutics
SMMT
$10.5B
$11M 0.06%
6,304,705
+4,304,705
+215% +$11.7M
ADAP
52
DELISTED
Adaptimmune Therapeutics
ADAP
$10.7M 0.06%
9,830,877
– –
OPT
53
DELISTED
Opthea Limited American Depositary Shares
OPT
$10.6M 0.06%
2,691,391
– –
VSTM icon
54
Verastem
VSTM
$624M
$10.6M 0.06%
2,126,787
-122,288
-5% -$774K
FATE icon
55
Fate Therapeutics
FATE
$279M
$9.53M 0.05%
1,671,717
+1,456,022
+675% +$8.79M
PNT
56
DELISTED
POINT Biopharma Global Inc. Common Stock
PNT
$8.5M 0.05%
1,169,103
– –
BLUE
57
DELISTED
bluebird bio
BLUE
$7.95M 0.04%
124,986
– –
ALLO icon
58
Allogene Therapeutics
ALLO
$722M
$7.79M 0.04%
+1,576,901
New +$10.1M
MRSN
59
DELISTED
Mersana Therapeutics
MRSN
$7.75M 0.04%
+75,445
New +$10.6M
WHWK
60
Whitehawk Therapeutics
WHWK
$270M
$7.17M 0.04%
989,928
– –
SERA icon
61
Sera Prognostics
SERA
$84.4M
$6.85M 0.04%
1,789,000
+1,587,438
+788% +$4.17M
GERN icon
62
Geron
GERN
$977M
$6.64M 0.04%
+3,061,224
New +$8.69M
SANA icon
63
Sana Biotechnology
SANA
$1.17B
$6.54M 0.04%
+2,000,000
New +$7.99M
ARAV
64
DELISTED
Aravive, Inc. Common Stock
ARAV
$6.52M 0.04%
3,261,224
– –
MGNX icon
65
MacroGenics
MGNX
$261M
$6.4M 0.03%
892,579
– –
ALEC icon
66
Alector
ALEC
$264M
$5.97M 0.03%
964,851
+282,860
+41% +$2.3M
LONA
67
LeonaBio Inc
LONA
$72.4M
$5.88M 0.03%
235,036
+47,052
+25% +$1.52M
INSM icon
68
Insmed
INSM
$27.5B
$5.85M 0.03%
343,000
+323,050
+1,619% +$6.28M
TCRX icon
69
TScan Therapeutics
TCRX
$52.8M
$5.85M 0.03%
2,784,792
– –
NTRA icon
70
Natera
NTRA
$47.9B
$5.55M 0.03%
100,000
– –
CMPX icon
71
Compass Therapeutics
CMPX
$432M
$5.09M 0.03%
1,557,630
– –
AFMD
72
DELISTED
Affimed
AFMD
$4.92M 0.03%
659,683
– –
RLAY icon
73
Relay Therapeutics
RLAY
$4.26B
$4.68M 0.03%
+284,000
New +$5.09M
BCEL
74
DELISTED
Atreca, Inc. Class A Common Stock
BCEL
$4.03M 0.02%
3,532,760
– –
IPSC icon
75
Century Therapeutics
IPSC
$375M
$3.99M 0.02%
1,149,340
– –
1 2
3
4 5

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Julian Baker's Q1 2023 Portfolio in Review

As of Q1 2023, Julian Baker held 118 positions worth $18.4B, up 10% from $16.7B the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Julian Baker withdrew a net $958M in Q1 2023, closing 13 positions and reducing 7 holdings. Its most notable exit was Ascendis Pharma A/S, an estimated $605M position sold in full.

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

Against the trend, Julian Baker opened a new position in Blueprint Medicines worth $15M.

  • Julian Baker's largest Q1 2023 buy was Blueprint Medicines: 333,665 shares worth $15M.
  • Julian Baker added most to Revolution Medicines in Q1 2023, an estimated $60.8M increase.
  • Julian Baker's biggest Q1 2023 reduction was BioMarin Pharmaceuticals, cutting an estimated $395M.
  • Julian Baker fully exited Ascendis Pharma A/S in Q1 2023, selling an estimated $605M.
  • Julian Baker's ten largest holdings make up 90% of its $18.4B portfolio in Q1 2023.
  • Julian Baker opened 7 new positions and closed 13 in Q1 2023.
  • Julian Baker's portfolio value rose 10% quarter-over-quarter to $18.4B.

Based on Baker Bros. Advisors's 13F filing for Q1 2023, filed 15 May 2023.