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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
+12.37%
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
$7.87B
AUM Growth
+$772M
Cap. Flow
-$1.35B
Cap. Flow %
-17.14%
Top 10 Hldgs %
73.35%
Holding
114
New
19
Increased
20
Reduced
44
Closed
6

Top Buys

Rank Stock Value
1
ITMN
INTERMUNE INC
ITMN
+$93M
2
GEVA
SYNAGEVA BIOPHARMA CORP COM STK (DE)
GEVA
+$34.7M
3
ACOR
Acorda Therapeutics
ACOR
+$33.7M
4
HRTX icon
Heron Therapeutics
HRTX
+$29M
5
XNPT
XENOPORT, INC.
XNPT
+$18.1M

Top Sells

Rank Stock Value
1
ARWR icon
Arrowhead Research
ARWR
+$41.4M
2
ICPT
Intercept Pharmaceuticals, Inc.
ICPT
+$35.9M
3
MDVN
MEDIVATION, INC.
MDVN
+$25.4M
4
HALO icon
Halozyme
HALO
+$8.89M
5
BCRX icon
BioCryst Pharmaceuticals
BCRX
+$8.88M

Sector Composition

Rank Sector Weight
1 Healthcare 48.37%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SGEN
1
DELISTED
Seagen Inc. Common Stock
SGEN
$945M 12.01%
20,739,426
+3,500
+0% +$167K
GEVA
2
DELISTED
SYNAGEVA BIOPHARMA CORP COM STK (DE)
GEVA
$883M 11.23%
10,648,182
+375,000
+4% +$34.7M
PCYC
3
DELISTED
PHARMACYCLICS INC
PCYC
$876M 11.13%
8,737,888
+18,670
+0.2% +$2.43M
INCY icon
4
Incyte
INCY
$25.9B
$794M 10.09%
14,835,559
+25,000
+0.2% +$1.55M
ACAD icon
5
Acadia Pharmaceuticals
ACAD
$5.08B
$498M 6.33%
20,481,442
+526,316
+3% +$13.3M
GHDX
6
DELISTED
Genomic Health, Inc.
GHDX
$360M 4.57%
13,654,150
+3,315
+0% +$95.1K
ITMN
7
DELISTED
INTERMUNE INC
ITMN
$145M 1.84%
4,324,843
+4,174,843
+2,783% +$93M
BMRN icon
8
BioMarin Pharmaceuticals
BMRN
$12.9B
$128M 1.63%
1,883,230
-58,074
-3% -$4.28M
XOMA
9
DELISTED
Xoma
XOMA
$120M 1.53%
1,152,879
+1,260
+0.1% +$183K
ICPT
10
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
$84.5M 1.07%
256,375
-106,472
-29% -$35.9M
HALO icon
11
Halozyme
HALO
$12.3B
$72.4M 0.92%
5,698,139
-598,887
-10% -$8.89M
VNDA icon
12
Vanda Pharmaceuticals
VNDA
$319M
$72.2M 0.92%
4,445,696
-345,483
-7% -$4.91M
BCRX icon
13
BioCryst Pharmaceuticals
BCRX
$2.44B
$62.1M 0.79%
5,867,031
-832,948
-12% -$8.88M
ANAC
14
DELISTED
ANACOR PHARMACEUTICALS INC COM
ANAC
$61.9M 0.79%
3,095,318
+595,318
+24% +$11.5M
RPRX
15
DELISTED
Repros Therapeutics Inc.
RPRX
$49.3M 0.63%
2,778,654
– –
QCOR
16
DELISTED
QUESTCOR PHARMA INC
QCOR
$46.6M 0.59%
717,745
-58,119
-7% -$3.71M
MRTX
17
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$45.4M 0.58%
2,380,074
– –
DSCI
18
DELISTED
Derma Sciences, Inc. Common Stock (DE)
DSCI
$44.9M 0.57%
3,537,137
+978,280
+38% +$12.6M
CERS icon
19
Cerus
CERS
$566M
$40.6M 0.52%
8,455,306
– –
GILD icon
20
Gilead Sciences
GILD
$181B
$39.4M 0.5%
556,108
– –
ACOR
21
DELISTED
Acorda Therapeutics
ACOR
$37.9M 0.48%
+8,333
New +$33.7M
CHTP
22
DELISTED
CHELSEA THERAPEUTICS INT'L LTD
CHTP
$37.3M 0.47%
6,760,394
+965,641
+17% +$4.85M
CLVS
23
DELISTED
Clovis Oncology, Inc.
CLVS
$36.7M 0.47%
529,990
-748
-0.1% -$54.9K
HRTX icon
24
Heron Therapeutics
HRTX
$60.4M
$30.2M 0.38%
+2,167,784
New +$29M
AEGR
25
DELISTED
Aegerion Pharmaceuticals
AEGR
$23.7M 0.3%
513,922
+13,922
+3% +$816K
1
2 3 4

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Julian Baker's Q1 2014 Portfolio in Review

As of Q1 2014, Julian Baker held 114 positions worth $7.87B, up 11% from $7.1B the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Julian Baker withdrew a net $1.35B in Q1 2014, closing 6 positions and reducing 44 holdings. Its most notable exit was MEDIVATION, INC., an estimated $25.4M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 48% of assets, down from 50% a quarter earlier.

Against the trend, Julian Baker opened a new position in Acorda Therapeutics worth $37.9M.

  • Julian Baker's largest Q1 2014 buy was Acorda Therapeutics: 8,333 shares worth $37.9M.
  • Julian Baker added most to INTERMUNE INC in Q1 2014, an estimated $93M increase.
  • Julian Baker's biggest Q1 2014 reduction was Arrowhead Research, cutting an estimated $41.4M.
  • Julian Baker fully exited MEDIVATION, INC. in Q1 2014, selling an estimated $25.4M.
  • Julian Baker's ten largest holdings make up 73% of its $7.87B portfolio in Q1 2014.
  • Julian Baker opened 19 new positions and closed 6 in Q1 2014.
  • Julian Baker's portfolio value rose 11% quarter-over-quarter to $7.87B.

Based on Baker Bros. Advisors's 13F filing for Q1 2014, filed 15 May 2014.