We are live on ! Find out more
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
+2.27%
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
$17.4B
AUM Growth
+$337M
Cap. Flow
+$511M
Cap. Flow %
2.93%
Top 10 Hldgs %
73.49%
Holding
93
New
8
Increased
18
Reduced
6
Closed
9

Top Buys

Rank Stock Value
1
PRAX icon
Praxis Precision Medicines
PRAX
+$194M
2
GRAL
GRAIL Inc
GRAL
+$151M
3
INSM icon
Insmed
INSM
+$127M
4
MIRM icon
Mirum Pharmaceuticals
MIRM
+$42M
5
CRNX icon
Crinetics Pharmaceuticals
CRNX
+$31.4M

Top Sells

Rank Stock Value
1
RARE icon
Ultragenyx Pharmaceutical
RARE
+$63.8M
2
IMCR icon
Immunocore
IMCR
+$51.4M
3
TERN
Terns Pharmaceuticals
TERN
+$38.4M
4
BNTX icon
BioNTech
BNTX
+$25.6M
5
BCRX icon
BioCryst Pharmaceuticals
BCRX
+$22M

Sector Composition

Rank Sector Weight
1 Healthcare 99.57%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LBRX
76
LB Pharmaceuticals
LBRX
$1.54B
$4.93M 0.03%
200,000
– –
VSTM icon
77
Verastem
VSTM
$624M
$3.1M 0.02%
+584,757
New +$3.61M
TCRX icon
78
TScan Therapeutics
TCRX
$52.8M
$2.81M 0.02%
2,784,792
– –
SKYE icon
79
Skye Bioscience
SKYE
$1.24M
$968K 0.01%
1,575,243
+124,605
+9% +$102K
SANA icon
80
Sana Biotechnology
SANA
$1.17B
$894K 0.01%
310,483
– –
ALGS icon
81
Aligos Therapeutics
ALGS
$41.7M
$617K ﹤0.01%
83,055
– –
TYRA icon
82
Tyra Biosciences
TYRA
$1.55B
$406K ﹤0.01%
10,607
– –
SRZNW
83
DELISTED
Surrozen Inc Warrant
SRZNW
$13.3K ﹤0.01%
833,333
– –
ACRV icon
84
Acrivon Therapeutics
ACRV
$94.7M
– –
-22,809
Closed -$55K
BCRX icon
85
BioCryst Pharmaceuticals
BCRX
$2.44B
– –
-2,822,727
Closed -$22M
FDMT icon
86
4D Molecular Therapeutics
FDMT
$875M
– –
-475,737
Closed -$3.57M
KALA icon
87
KALA BIO
KALA
$15.9M
– –
-36,081
Closed -$1M
NUVL
88
DELISTED
Nuvalent
NUVL
– –
-143,937
Closed -$14.5M
RARE icon
89
Ultragenyx Pharmaceutical
RARE
$2.55B
– –
-2,772,692
Closed -$63.8M
TERN
90
DELISTED
Terns Pharmaceuticals
TERN
– –
-950,000
Closed -$38.4M
VIR icon
91
Vir Biotechnology
VIR
$1.65B
– –
-542,539
Closed -$3.27M
VTYX
92
DELISTED
Ventyx Biosciences
VTYX
– –
-2,349,280
Closed -$21.2M
1 2 3
4

Similar funds

ASRS
Arizona State Retirement System Phoenix, Arizona $19.9B AUM 44.71% 1-Year Est. Return
FWIA
Fort Washington Investment Advisors Cincinnati, Ohio $19.9B AUM 22.19% 1-Year Est. Return
CWP
Capital Wealth Planning Naples, Florida $20B AUM 25.34% 1-Year Est. Return
SFA
Sequoia Financial Advisors Akron, Ohio $20.1B AUM 24.77% 1-Year Est. Return
MGP
M&G plc London, United Kingdom $20.1B AUM 16.62% 1-Year Est. Return
JAM
Jupiter Asset Management London, United Kingdom $20.2B AUM 29.18% 1-Year Est. Return
Verition Fund Management
Verition Fund Management Greenwich, Connecticut $19.7B AUM 39.39% 1-Year Est. Return
Select Equity Group
Select Equity Group New York $20.2B AUM 17.52% 1-Year Est. Return

Julian Baker's Q1 2026 Portfolio in Review

As of Q1 2026, Julian Baker held 93 positions worth $17.4B, up 2% from $17.1B the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Julian Baker's Q1 2026 filing shows 8 new, 18 increased, 6 reduced and 9 closed positions. Its largest new stake was Mirum Pharmaceuticals: 445,975 shares worth $41.2M. The largest sale was Ultragenyx Pharmaceutical, an estimated $63.8M.

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

  • Julian Baker's largest Q1 2026 buy was Mirum Pharmaceuticals: 445,975 shares worth $41.2M.
  • Julian Baker added most to Praxis Precision Medicines in Q1 2026, an estimated $194M increase.
  • Julian Baker's biggest Q1 2026 reduction was Immunocore, cutting an estimated $51.4M.
  • Julian Baker fully exited Ultragenyx Pharmaceutical in Q1 2026, selling an estimated $63.8M.
  • Julian Baker's ten largest holdings make up 73% of its $17.4B portfolio in Q1 2026.
  • Julian Baker opened 8 new positions and closed 9 in Q1 2026.
  • Julian Baker's portfolio value rose 2% quarter-over-quarter to $17.4B.

Based on Baker Bros. Advisors's 13F filing for Q1 2026, filed 15 May 2026.