Julian Baker Baker Bros. Advisors
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Revolution Medicines
RVMD
|
+$276M |
| 2 |
Insmed
INSM
|
+$166M |
| 3 |
IDEAYA Biosciences
IDYA
|
+$32.6M |
| 4 |
FTH
Faeth Therapeutics
FTH
|
+$29.8M |
| 5 |
Relay Therapeutics
RLAY
|
+$24.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Edgewise Therapeutics
EWTX
|
+$99.1M |
| 2 |
ABVX
Abivax
ABVX
|
+$97.5M |
| 3 |
Summit Therapeutics
SMMT
|
+$63.9M |
| 4 |
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 | |
|---|---|---|---|---|---|---|
76
Protara Therapeutics
TARA
$228M
| $3.71M | 0.02% |
971,614
| – | – |
|
77
TScan Therapeutics
TCRX
$52.8M
| $2.73M | 0.01% |
2,784,792
| – | – |
|
78
Immunome
IMNM
$3.24B
| $1.17M | 0.01% |
+55,306
| New | +$1.18M |
|
79
Skye Bioscience
SKYE
$1.24M
| $1.09M | 0.01% |
1,575,243
| – | – |
|
80
Sana Biotechnology
SANA
$1.17B
| $1.08M | 0.01% |
310,483
| – | – |
|
81
Aligos Therapeutics
ALGS
$41.7M
| $479K | ﹤0.01% |
83,055
| – | – |
|
82
Tyra Biosciences
TYRA
$1.55B
| $339K | ﹤0.01% |
10,607
| – | – |
|
|
SRZNW
83
DELISTED
Surrozen Inc Warrant
SRZNW
| $13.8K | ﹤0.01% |
833,333
| – | – |
|
|
ABVX
84
Abivax
ABVX
$10B
| – | – |
-875,796
| Closed | -$97.5M |
|
85
argenx
ARGX
$65B
| – | – |
-25,174
| Closed | -$18.4M |
|
|
CMPS
86
Compass Pathways
CMPS
$1.85B
| – | – |
-2,344,720
| Closed | -$13M |
|
|
CNTA
87
DELISTED
Centessa Pharmaceuticals
CNTA
| – | – |
-670,751
| Closed | -$26.6M |
|
88
Immunocore
IMCR
$1.9B
| – | – |
-734,397
| Closed | -$22.1M |
|
89
Pharvaris
PHVS
$2.55B
| – | – |
-375,000
| Closed | -$10.6M |
|
|
90
Spyre Therapeutics
SYRE
$9.39B
| – | – |
-1,000,000
| Closed | -$50.4M |
|
|
CTNM
91
Contineum Therapeutics
CTNM
$647M
| – | – |
-1,420,838
| Closed | -$18.6M |
|
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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.