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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
TLIS
76
DELISTED
Talis Biomedical Corporation Common Stock
TLIS
$3.74M 0.02%
508,322
– –
DSGN icon
77
Design Therapeutics
DSGN
$938M
$3.62M 0.02%
626,884
-65,247
-9% -$488K
TIL icon
78
Instil Bio
TIL
$51.4M
$3.48M 0.02%
263,689
– –
XNCR icon
79
Xencor
XNCR
$2.07B
$3.43M 0.02%
123,127
– –
VOR icon
80
Vor Biopharma
VOR
$1.38B
$3.41M 0.02%
31,692
-41,604
-57% -$4.61M
EWTX icon
81
Edgewise Therapeutics
EWTX
$4.8B
$3.33M 0.02%
500,000
– –
TNGX icon
82
Tango Therapeutics
TNGX
$4.03B
$2.96M 0.02%
750,000
– –
GLUE icon
83
Monte Rosa Therapeutics
GLUE
$1.22B
$2.92M 0.02%
+375,095
New +$2.61M
NGNE icon
84
Neurogene
NGNE
$773M
$2.68M 0.01%
191,087
– –
VERA icon
85
Vera Therapeutics
VERA
$2.33B
$2.59M 0.01%
333,333
– –
HOOK
86
DELISTED
HOOKIPA Pharma
HOOK
$2.56M 0.01%
347,554
– –
CYPH
87
Cypherpunk Technologies Inc
CYPH
$153M
$2.52M 0.01%
742,557
+686,586
+1,227% +$3.6M
ACHL
88
DELISTED
Achilles Therapeutics
ACHL
$2.48M 0.01%
2,591,366
– –
ATRA icon
89
Atara Biotherapeutics
ATRA
$97.4M
$2.16M 0.01%
29,767
– –
ITOS
90
DELISTED
iTeos Therapeutics
ITOS
$2.05M 0.01%
150,346
– –
VERU icon
91
Veru
VERU
$45M
$1.87M 0.01%
160,958
– –
PCVX icon
92
Vaxcyte
PCVX
$9.32B
$1.83M 0.01%
48,885
– –
ALGS icon
93
Aligos Therapeutics
ALGS
$41.7M
$1.81M 0.01%
83,056
– –
PMVP icon
94
PMV Pharmaceuticals
PMVP
$71.1M
$1.54M 0.01%
322,024
– –
PRAX icon
95
Praxis Precision Medicines
PRAX
$10.5B
$1.52M 0.01%
125,328
+3,307
+3% +$140K
NKTX icon
96
Nkarta
NKTX
$191M
$1.42M 0.01%
400,000
– –
KALA icon
97
KALA BIO
KALA
$15.9M
$1.16M 0.01%
1,536
– –
TCRR
98
DELISTED
TCR2 Therapeutics Inc. Common Stock
TCRR
$1.13M 0.01%
753,064
– –
SYRE icon
99
Spyre Therapeutics
SYRE
$9.39B
$989K 0.01%
136,404
– –
TARA icon
100
Protara Therapeutics
TARA
$228M
$625K ﹤0.01%
199,671
– –
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.