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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
+25.43%
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
$16.7B
AUM Growth
+$1.38B
Cap. Flow
-$374M
Cap. Flow %
-2.25%
Top 10 Hldgs %
86.98%
Holding
128
New
13
Increased
17
Reduced
8
Closed
15

Top Buys

Rank Stock Value
1
SWTX
SpringWorks Therapeutics
SWTX
+$37.7M
2
PRME icon
Prime Medicine
PRME
+$18.6M
3
DNLI icon
Denali Therapeutics
DNLI
+$14.9M
4
REPL icon
Replimune Group
REPL
+$14.2M
5
SPRY icon
ARS Pharmaceuticals
SPRY
+$13M

Top Sells

Rank Stock Value
1
GBT
Global Blood Therapeutics, Inc.
GBT
+$254M
2
CCXI
ChemoCentryx, Inc.
CCXI
+$92.6M
3
TVTX icon
Travere Therapeutics
TVTX
+$44M
4
FMTX
Forma Therapeutics Holdings, Inc. Common Stock
FMTX
+$37.6M
5
RLMD icon
Relmada Therapeutics
RLMD
+$18.3M

Sector Composition

Rank Sector Weight
1 Healthcare 99.83%
2 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RVMD icon
76
Revolution Medicines
RVMD
$44.9B
$5.29M 0.03%
222,222
– –
EWTX icon
77
Edgewise Therapeutics
EWTX
$4.8B
$4.47M 0.03%
500,000
– –
PRAX icon
78
Praxis Precision Medicines
PRAX
$10.5B
$4.36M 0.03%
+122,021
New +$3.81M
TCRX icon
79
TScan Therapeutics
TCRX
$52.8M
$4.32M 0.03%
2,784,792
– –
ARAV
80
DELISTED
Aravive, Inc. Common Stock
ARAV
$4.3M 0.03%
+3,261,224
New +$4.16M
CYT
81
DELISTED
Cyteir Therapeutics, Inc. Common Stock
CYT
$4.11M 0.02%
2,492,118
-151,522
-6% -$243K
NTRA icon
82
Natera
NTRA
$47.9B
$4.02M 0.02%
100,000
– –
TLIS
83
DELISTED
Talis Biomedical Corporation Common Stock
TLIS
$3.4M 0.02%
508,322
– –
TIL icon
84
Instil Bio
TIL
$51.4M
$3.32M 0.02%
263,689
+69,004
+35% +$3.41M
XNCR icon
85
Xencor
XNCR
$2.07B
$3.21M 0.02%
+123,127
New +$3.44M
ITOS
86
DELISTED
iTeos Therapeutics
ITOS
$2.94M 0.02%
150,346
– –
KALA icon
87
KALA BIO
KALA
$15.9M
$2.93M 0.02%
+1,536
New +$608K
BCEL
88
DELISTED
Atreca, Inc. Class A Common Stock
BCEL
$2.83M 0.02%
3,532,760
– –
HOOK
89
DELISTED
HOOKIPA Pharma
HOOK
$2.82M 0.02%
347,554
+107,506
+45% +$1.16M
PMVP icon
90
PMV Pharmaceuticals
PMVP
$71.1M
$2.8M 0.02%
322,024
– –
ATRA icon
91
Atara Biotherapeutics
ATRA
$97.4M
$2.44M 0.01%
29,767
– –
NKTX icon
92
Nkarta
NKTX
$191M
$2.4M 0.01%
400,000
– –
PCVX icon
93
Vaxcyte
PCVX
$9.32B
$2.34M 0.01%
+48,885
New +$1.92M
ACHL
94
DELISTED
Achilles Therapeutics
ACHL
$2.33M 0.01%
2,591,366
– –
FATE icon
95
Fate Therapeutics
FATE
$279M
$2.18M 0.01%
215,695
– –
ALGS icon
96
Aligos Therapeutics
ALGS
$41.7M
$1.98M 0.01%
83,056
– –
NGNE icon
97
Neurogene
NGNE
$773M
$1.95M 0.01%
191,087
– –
KRON
98
DELISTED
Kronos Bio
KRON
$1.94M 0.01%
1,198,151
-341,465
-22% -$786K
SYRE icon
99
Spyre Therapeutics
SYRE
$9.39B
$1.53M 0.01%
136,404
– –
TCRR
100
DELISTED
TCR2 Therapeutics Inc. Common Stock
TCRR
$752K ﹤0.01%
753,064
– –
2 3
4
5 6

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Julian Baker's Q4 2022 Portfolio in Review

As of Q4 2022, Julian Baker held 128 positions worth $16.7B, up 9.1% from $15.3B the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Julian Baker's Q4 2022 filing shows 13 new, 17 increased, 8 reduced and 15 closed positions. Its largest new stake was SpringWorks Therapeutics: 1,528,538 shares worth $39.8M. The largest sale was Global Blood Therapeutics, Inc., an estimated $254M.

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

  • Julian Baker's largest Q4 2022 buy was SpringWorks Therapeutics: 1,528,538 shares worth $39.8M.
  • Julian Baker added most to Denali Therapeutics in Q4 2022, an estimated $14.9M increase.
  • Julian Baker's biggest Q4 2022 reduction was Travere Therapeutics, cutting an estimated $44M.
  • Julian Baker fully exited Global Blood Therapeutics, Inc. in Q4 2022, selling an estimated $254M.
  • Julian Baker's ten largest holdings make up 87% of its $16.7B portfolio in Q4 2022.
  • Julian Baker opened 13 new positions and closed 15 in Q4 2022.
  • Julian Baker's portfolio value rose 9.1% quarter-over-quarter to $16.7B.

Based on Baker Bros. Advisors's 13F filing for Q4 2022, filed 14 Feb 2023.