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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
-21.22%
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
$9.48B
AUM Growth
-$2.59B
Cap. Flow
-$1.26B
Cap. Flow %
-13.32%
Top 10 Hldgs %
78.76%
Holding
139
New
5
Increased
29
Reduced
8
Closed
5

Top Buys

Rank Stock Value
1
INCY icon
Incyte
INCY
+$300M
2
SGEN
Seagen Inc. Common Stock
SGEN
+$200M
3
ACAD icon
Acadia Pharmaceuticals
ACAD
+$81.4M
4
ANAC
ANACOR PHARMACEUTICALS INC COM
ANAC
+$68.2M
5
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$56.3M

Top Sells

Rank Stock Value
1
DYAX
DYAX CORPORATION
DYAX
+$313M
2
GILD icon
Gilead Sciences
GILD
+$25.3M
3
MDVN
MEDIVATION, INC.
MDVN
+$12M
4
CPRX
Catalyst Pharmaceutical
CPRX
+$4.31M
5
IOVA icon
Iovance Biotherapeutics
IOVA
+$4.11M

Sector Composition

Rank Sector Weight
1 Healthcare 82.24%
2 Technology 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
INCY icon
1
Incyte
INCY
$25.9B
$1.7B 17.96%
23,498,460
+4,023,144
+21% +$300M
SGEN
2
DELISTED
Seagen Inc. Common Stock
SGEN
$1.52B 16%
43,235,267
+5,941,539
+16% +$200M
ALXN
3
DELISTED
Alexion Pharmaceuticals
ALXN
$911M 9.61%
6,542,599
– –
ABBV icon
4
AbbVie
ABBV
$468B
$821M 8.66%
14,373,538
– –
ACAD icon
5
Acadia Pharmaceuticals
ACAD
$5.08B
$677M 7.14%
24,213,838
+3,732,396
+18% +$81.4M
BMRN icon
6
BioMarin Pharmaceuticals
BMRN
$12.9B
$396M 4.18%
4,806,483
+691,400
+17% +$56.3M
GHDX
7
DELISTED
Genomic Health, Inc.
GHDX
$338M 3.57%
13,659,832
+568
+0% +$15.6K
ANAC
8
DELISTED
ANACOR PHARMACEUTICALS INC COM
ANAC
$274M 2.89%
5,122,375
+923,855
+22% +$68.2M
DBVT
9
DBV Technologies
DBVT
$914M
$179M 1.89%
550,956
+4,754
+0.9% +$1.33M
ACOR
10
DELISTED
Acorda Therapeutics
ACOR
$96.8M 1.02%
30,509
+675
+2% +$2.8M
CERS icon
11
Cerus
CERS
$566M
$80.4M 0.85%
13,553,275
– –
MRTX
12
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$69.9M 0.74%
3,268,556
+313,482
+11% +$7.01M
NGNE icon
13
Neurogene
NGNE
$773M
$68.4M 0.72%
387,624
+50,257
+15% +$9.77M
NVTA
14
DELISTED
Invitae Corporation
NVTA
$67.1M 0.71%
6,554,967
– –
ONC
15
BeOne Medicines Ltd
ONC
$42.4B
$56.1M 0.59%
+1,912,680
New +$54.2M
HRTX icon
16
Heron Therapeutics
HRTX
$60.4M
$55.2M 0.58%
2,907,784
– –
BLCM
17
DELISTED
Bellicum Pharmaceuticals, Inc.
BLCM
$45.5M 0.48%
486,565
– –
BCRX icon
18
BioCryst Pharmaceuticals
BCRX
$2.44B
$42.5M 0.45%
15,010,534
+792,755
+6% +$3.51M
IMGN
19
DELISTED
Immunogen Inc
IMGN
$37.9M 0.4%
4,452,445
– –
ONCE
20
DELISTED
Spark Therapeutics, Inc. Common Stock
ONCE
$37.3M 0.39%
1,262,382
– –
NBIX icon
21
Neurocrine Biosciences
NBIX
$15.5B
$35.4M 0.37%
895,422
+44,683
+5% +$1.77M
ARAV
22
DELISTED
Aravive, Inc. Common Stock
ARAV
$25.7M 0.27%
533,260
-7,037
-1% -$373K
SGMO
23
DELISTED
SANGAMO THERAPEUTICS INC
SGMO
$24.5M 0.26%
4,055,876
– –
AAAP
24
DELISTED
Advanced Accelerator Applications S.A.
AAAP
$21.5M 0.23%
615,033
+47,579
+8% +$1.43M
ACHN
25
DELISTED
Achillion Pharmaceuticals
ACHN
$19.1M 0.2%
2,475,515
+475,515
+24% +$3.48M
1
2 3 4 5

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Julian Baker's Q1 2016 Portfolio in Review

As of Q1 2016, Julian Baker held 139 positions worth $9.48B, down 21% from $12.1B the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Julian Baker withdrew a net $1.26B in Q1 2016, closing 5 positions and reducing 8 holdings. Its most notable exit was DYAX CORPORATION, an estimated $313M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 82% of assets, up from 79% a quarter earlier, followed by Technology.

Against the trend, Julian Baker opened a new position in BeOne Medicines Ltd worth $56.1M.

  • Julian Baker's largest Q1 2016 buy was BeOne Medicines Ltd: 1,912,680 shares worth $56.1M.
  • Julian Baker added most to Incyte in Q1 2016, an estimated $300M increase.
  • Julian Baker's biggest Q1 2016 reduction was MEDIVATION, INC., cutting an estimated $12M.
  • Julian Baker fully exited DYAX CORPORATION in Q1 2016, selling an estimated $313M.
  • Julian Baker's ten largest holdings make up 79% of its $9.48B portfolio in Q1 2016.
  • Julian Baker opened 5 new positions and closed 5 in Q1 2016.
  • Julian Baker's portfolio value fell 21% quarter-over-quarter to $9.48B.

Based on Baker Bros. Advisors's 13F filing for Q1 2016, filed 16 May 2016.