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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
-1.31%
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
$15.3B
AUM Growth
-$2.36B
Cap. Flow
-$405M
Cap. Flow %
-2.65%
Top 10 Hldgs %
84.69%
Holding
128
New
12
Increased
7
Reduced
17
Closed
13

Top Buys

Rank Stock Value
1
RYTM icon
Rhythm Pharmaceuticals
RYTM
+$36M
2
AKRO
Akero Therapeutics
AKRO
+$34.4M
3
VERU icon
Veru
VERU
+$23.2M
4
CINC
CinCor Pharma, Inc. Common Stock
CINC
+$22.8M
5
IDYA icon
IDEAYA Biosciences
IDYA
+$21.7M

Top Sells

Rank Stock Value
1
ARGX icon
argenx
ARGX
+$311M
2
INSM icon
Insmed
INSM
+$51.2M
3
LEGN icon
Legend Biotech
LEGN
+$47.1M
4
KRYS icon
Krystal Biotech
KRYS
+$27.9M
5
PACB icon
Pacific Biosciences
PACB
+$24.8M

Sector Composition

Rank Sector Weight
1 Healthcare 99.7%
2 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ATYR
101
aTyr Pharma
ATYR
$49.2M
$604K ﹤0.01%
201,361
-173,034
-46% -$580K
TARA icon
102
Protara Therapeutics
TARA
$228M
$591K ﹤0.01%
199,671
– –
KZR
103
DELISTED
Kezar Life Sciences
KZR
$533K ﹤0.01%
6,195
– –
CYPH
104
Cypherpunk Technologies Inc
CYPH
$153M
$493K ﹤0.01%
55,971
– –
CABA icon
105
Cabaletta Bio
CABA
$531M
$430K ﹤0.01%
662,063
– –
INSM icon
106
Insmed
INSM
$27.5B
$430K ﹤0.01%
19,950
-2,136,051
-99% -$51.2M
FHTX icon
107
Foghorn Therapeutics
FHTX
$420M
$386K ﹤0.01%
45,027
– –
GTH
108
DELISTED
Genetron Holdings Limited ADS
GTH
$356K ﹤0.01%
151,769
– –
VINC
109
DELISTED
Vincerx Pharma, Inc. Common Stock
VINC
$333K ﹤0.01%
12,069
– –
SERA icon
110
Sera Prognostics
SERA
$84.4M
$322K ﹤0.01%
201,562
– –
BLCM
111
DELISTED
Bellicum Pharmaceuticals, Inc.
BLCM
$299K ﹤0.01%
249,123
– –
SRZNW
112
DELISTED
Surrozen Inc Warrant
SRZNW
$154K ﹤0.01%
833,333
– –
LOGC
113
DELISTED
LogicBio Therapeutics, Inc. Common Stock
LOGC
$38K ﹤0.01%
139,105
-312,373
-69% -$124K
BCAB icon
114
BioAtla
BCAB
$5.3M
– –
-16,500
Closed -$2.35M
BNR
115
Burning Rock Biotech
BNR
$103M
– –
-20,913
Closed -$609K
CNTA
116
DELISTED
Centessa Pharmaceuticals
CNTA
– –
-1,127,273
Closed -$5.49M
HRMY icon
117
Harmony Biosciences
HRMY
$2.22B
– –
-123,600
Closed -$6.03M
INZY
118
DELISTED
Inozyme Pharma
INZY
– –
-106,999
Closed -$510K
LEGN icon
119
Legend Biotech
LEGN
$4.24B
– –
-856,658
Closed -$47.1M
MRUS
120
DELISTED
Merus
MRUS
– –
-995,397
Closed -$22.5M
PASG icon
121
Passage Bio
PASG
$14.3M
– –
-5,858
Closed -$276K
NEXI
122
DELISTED
NexImmune, Inc. Common Stock
NEXI
– –
-800
Closed -$32K
NGM
123
DELISTED
NGM Biopharmaceuticals, Inc. Common Stock
NGM
– –
-55,294
Closed -$709K
KRTX
124
DELISTED
Karuna Therapeutics, Inc. Common Stock
KRTX
– –
-69,966
Closed -$8.85M
EPZM
125
DELISTED
Epizyme, Inc
EPZM
– –
-1,000,000
Closed -$1.47M
2 3 4
5
6

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Julian Baker's Q3 2022 Portfolio in Review

As of Q3 2022, Julian Baker held 128 positions worth $15.3B, down 13% from $17.6B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Julian Baker's Q3 2022 filing shows 12 new, 7 increased, 17 reduced and 13 closed positions. Its largest new stake was Veru: 160,958 shares worth $18.5M. The largest sale was argenx, an estimated $311M.

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 Q3 2022 buy was Veru: 160,958 shares worth $18.5M.
  • Julian Baker added most to Rhythm Pharmaceuticals in Q3 2022, an estimated $36M increase.
  • Julian Baker's biggest Q3 2022 reduction was argenx, cutting an estimated $311M.
  • Julian Baker fully exited Legend Biotech in Q3 2022, selling an estimated $47.1M.
  • Julian Baker's ten largest holdings make up 85% of its $15.3B portfolio in Q3 2022.
  • Julian Baker opened 12 new positions and closed 13 in Q3 2022.
  • Julian Baker's portfolio value fell 13% quarter-over-quarter to $15.3B.

Based on Baker Bros. Advisors's 13F filing for Q3 2022, filed 14 Nov 2022.