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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
-6.24%
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
$10.8B
AUM Growth
-$577M
Cap. Flow
-$347M
Cap. Flow %
-3.21%
Top 10 Hldgs %
77.46%
Holding
139
New
12
Increased
27
Reduced
8
Closed
6

Top Buys

Rank Stock Value
1
INCY icon
Incyte
INCY
+$517M
2
SGEN
Seagen Inc. Common Stock
SGEN
+$232M
3
DBVT
DBV Technologies
DBVT
+$142M
4
ANAC
ANACOR PHARMACEUTICALS INC COM
ANAC
+$66.6M
5
NGNE icon
Neurogene
NGNE
+$63.9M

Top Sells

Rank Stock Value
1
XOMA
Xoma
XOMA
+$57M
2
KYTH
KYTHERA BIOPHARMACEUTICALS, INC COM
KYTH
+$29.2M
3
ALDR
Alder Biopharmaceuticals
ALDR
+$16.1M
4
OMER icon
Omeros
OMER
+$9.78M
5
DYAX
DYAX CORPORATION
DYAX
+$8.72M

Sector Composition

Rank Sector Weight
1 Healthcare 77.98%
2 Technology 0.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
INCY icon
1
Incyte
INCY
$25.9B
$2.15B 19.85%
19,474,969
+4,609,410
+31% +$517M
SGEN
2
DELISTED
Seagen Inc. Common Stock
SGEN
$1.39B 12.84%
36,029,746
+5,159,484
+17% +$232M
ALXN
3
DELISTED
Alexion Pharmaceuticals
ALXN
$1.02B 9.45%
6,542,599
– –
ABBV icon
4
AbbVie
ABBV
$468B
$782M 7.23%
14,373,538
– –
ACAD icon
5
Acadia Pharmaceuticals
ACAD
$5.08B
$677M 6.26%
20,481,442
– –
ANAC
6
DELISTED
ANACOR PHARMACEUTICALS INC COM
ANAC
$487M 4.5%
4,135,412
+509,914
+14% +$66.6M
BMRN icon
7
BioMarin Pharmaceuticals
BMRN
$12.9B
$429M 3.97%
4,076,353
-18,894
-0.5% -$2.52M
GHDX
8
DELISTED
Genomic Health, Inc.
GHDX
$289M 2.67%
13,658,328
+730
+0% +$18.8K
DBVT
9
DBV Technologies
DBVT
$914M
$194M 1.8%
546,202
+360,000
+193% +$142M
BCRX icon
10
BioCryst Pharmaceuticals
BCRX
$2.44B
$161M 1.49%
14,110,179
+2,532,880
+22% +$33.8M
DYAX
11
DELISTED
DYAX CORPORATION
DYAX
$144M 1.33%
7,561,480
-365,150
-5% -$8.72M
MRTX
12
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$102M 0.94%
2,955,074
+150,000
+5% +$4.53M
NGNE icon
13
Neurogene
NGNE
$773M
$94.9M 0.88%
337,367
+277,499
+464% +$63.9M
HRTX icon
14
Heron Therapeutics
HRTX
$60.4M
$71M 0.66%
2,907,784
+100,000
+4% +$3.33M
CERS icon
15
Cerus
CERS
$566M
$61.5M 0.57%
13,553,275
– –
BLCM
16
DELISTED
Bellicum Pharmaceuticals, Inc.
BLCM
$60.9M 0.56%
419,059
– –
ONCE
17
DELISTED
Spark Therapeutics, Inc. Common Stock
ONCE
$52.7M 0.49%
1,262,382
– –
NVTA
18
DELISTED
Invitae Corporation
NVTA
$47.3M 0.44%
6,554,967
– –
ARAV
19
DELISTED
Aravive, Inc. Common Stock
ARAV
$37.4M 0.35%
540,297
-32,467
-6% -$3.05M
IMGN
20
DELISTED
Immunogen Inc
IMGN
$34.1M 0.31%
3,548,040
+1,227,616
+53% +$17.9M
NBIX icon
21
Neurocrine Biosciences
NBIX
$15.5B
$29.9M 0.28%
750,739
+208,503
+38% +$10.1M
INSM icon
22
Insmed
INSM
$27.5B
$29.4M 0.27%
1,583,490
– –
ACOR
23
DELISTED
Acorda Therapeutics
ACOR
$29.1M 0.27%
9,141
+2,983
+48% +$11.6M
MDVN
24
DELISTED
MEDIVATION, INC.
MDVN
$28M 0.26%
+659,752
New +$32.7M
HALO icon
25
Halozyme
HALO
$12.3B
$25.9M 0.24%
1,931,057
– –
1
2 3 4 5

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Julian Baker's Q3 2015 Portfolio in Review

As of Q3 2015, Julian Baker held 139 positions worth $10.8B, down 5.1% from $11.4B the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Julian Baker withdrew a net $347M in Q3 2015, closing 6 positions and reducing 8 holdings. Its most notable exit was Xoma, an estimated $57M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 78% of assets, up from 78% a quarter earlier, followed by Technology.

Against the trend, Julian Baker opened a new position in MEDIVATION, INC. worth $28M.

  • Julian Baker's largest Q3 2015 buy was MEDIVATION, INC.: 659,752 shares worth $28M.
  • Julian Baker added most to Incyte in Q3 2015, an estimated $517M increase.
  • Julian Baker's biggest Q3 2015 reduction was Alder Biopharmaceuticals, cutting an estimated $16.1M.
  • Julian Baker fully exited Xoma in Q3 2015, selling an estimated $57M.
  • Julian Baker's ten largest holdings make up 77% of its $10.8B portfolio in Q3 2015.
  • Julian Baker opened 12 new positions and closed 6 in Q3 2015.
  • Julian Baker's portfolio value fell 5.1% quarter-over-quarter to $10.8B.

Based on Baker Bros. Advisors's 13F filing for Q3 2015, filed 16 Nov 2015.