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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
GTH
101
DELISTED
Genetron Holdings Limited ADS
GTH
$478K ﹤0.01%
151,769
– –
FHTX icon
102
Foghorn Therapeutics
FHTX
$420M
$279K ﹤0.01%
45,027
– –
VINC
103
DELISTED
Vincerx Pharma, Inc. Common Stock
VINC
$251K ﹤0.01%
12,069
– –
SRZNW
104
DELISTED
Surrozen Inc Warrant
SRZNW
$83.3K ﹤0.01%
833,333
– –
BLCM
105
DELISTED
Bellicum Pharmaceuticals, Inc.
BLCM
$82.2K ﹤0.01%
249,123
– –
ALT icon
106
Altimmune
ALT
$605M
– –
-653,562
Closed -$10.8M
ASND icon
107
Ascendis Pharma A/S
ASND
$16.6B
– –
-4,954,855
Closed -$605M
BHVN icon
108
Biohaven
BHVN
$2.09B
– –
-476,190
Closed -$6.61M
KRON
109
DELISTED
Kronos Bio
KRON
– –
-1,198,151
Closed -$1.94M
KZR
110
DELISTED
Kezar Life Sciences
KZR
– –
-6,195
Closed -$436K
TVTX icon
111
Travere Therapeutics
TVTX
$6.19B
– –
-1,225,255
Closed -$25.8M
ZYME icon
112
Zymeworks
ZYME
$2.05B
– –
-1,708,472
Closed -$13.4M
ATYR
113
aTyr Pharma
ATYR
$49.2M
– –
-8,565
Closed -$18.8K
CBAY
114
DELISTED
Cymabay Therapeutics
CBAY
– –
-2,170,464
Closed -$13.6M
CYT
115
DELISTED
Cyteir Therapeutics, Inc. Common Stock
CYT
– –
-2,492,118
Closed -$4.11M
RETA
116
DELISTED
Reata Pharmaceuticals, Inc. Class A Common Stock
RETA
– –
-223,976
Closed -$8.51M
CINC
117
DELISTED
CinCor Pharma, Inc. Common Stock
CINC
– –
-807,212
Closed -$9.92M
HZNP
118
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
– –
-969,727
Closed -$110M
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.