Julian Baker Baker Bros. Advisors
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
ONC
BeOne Medicines Ltd
ONC
|
+$1.09B |
| 2 |
Madrigal Pharmaceuticals
MDGL
|
+$97.2M |
| 3 |
SGEN
Seagen Inc. Common Stock
SGEN
|
+$84.2M |
| 4 |
Kiniksa Pharmaceuticals
KNSA
|
+$54.3M |
| 5 |
TCDA
Tricida, Inc. Common Stock
TCDA
|
+$44.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AVXS
AveXis, Inc. Common Stock
AVXS
|
+$144M |
| 2 |
ABLX
Ablynx NV
ABLX
|
+$119M |
| 3 |
Nektar Therapeutics
NKTR
|
+$29.3M |
| 4 |
Exelixis
EXEL
|
+$13.4M |
| 5 |
PGNX
Progenics Pharmaceuticals Inc
PGNX
|
+$10.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 99.23% |
| 2 | Technology | 0.01% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SGEN
1
DELISTED
Seagen Inc. Common Stock
SGEN
| $3.39B | 25.46% |
51,046,060
+1,470,651
| +3% | +$84.2M |
|
2
Incyte
INCY
$25.9B
| $2.29B | 17.24% |
34,251,034
+20,283
| +0.1% | +$1.39M |
|
|
ONC
3
BeOne Medicines Ltd
ONC
$42.4B
| $1.84B | 13.81% |
11,959,824
+6,130,395
| +105% | +$1.09B |
|
|
ALXN
4
DELISTED
Alexion Pharmaceuticals
ALXN
| $1.06B | 7.98% |
8,555,894
| – | – |
|
5
BioMarin Pharmaceuticals
BMRN
$12.9B
| $714M | 5.37% |
7,583,084
| – | – |
|
|
GHDX
6
DELISTED
Genomic Health, Inc.
GHDX
| $695M | 5.22% |
13,790,574
+638
| +0% | +$25.3K |
|
7
Acadia Pharmaceuticals
ACAD
$5.08B
| $416M | 3.12% |
27,228,338
| – | – |
|
|
8
Madrigal Pharmaceuticals
MDGL
$11.9B
| $327M | 2.46% |
1,169,278
+553,594
| +90% | +$97.2M |
|
9
Heron Therapeutics
HRTX
$60.4M
| $195M | 1.47% |
5,025,298
| – | – |
|
10
Ascendis Pharma A/S
ASND
$16.6B
| $189M | 1.42% |
2,837,352
| – | – |
|
|
MRTX
11
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $124M | 0.93% |
2,513,462
-35,999
| -1% | -$1.36M |
|
|
ONCE
12
DELISTED
Spark Therapeutics, Inc. Common Stock
ONCE
| $115M | 0.86% |
1,384,130
| – | – |
|
|
DBVT
13
DBV Technologies
DBVT
$914M
| $106M | 0.8% |
550,956
| – | – |
|
|
SAGE
14
DELISTED
Sage Therapeutics
SAGE
| $96M | 0.72% |
613,300
-33,528
| -5% | -$5.26M |
|
|
ARRY
15
DELISTED
Array Biopharma Inc
ARRY
| $94.9M | 0.71% |
5,656,196
| – | – |
|
16
Neurocrine Biosciences
NBIX
$15.5B
| $92.8M | 0.7% |
944,624
| – | – |
|
17
Rhythm Pharmaceuticals
RYTM
$7.57B
| $84.7M | 0.64% |
2,708,200
+659,180
| +32% | +$18M |
|
18
BioCryst Pharmaceuticals
BCRX
$2.44B
| $80.3M | 0.6% |
14,012,172
| – | – |
|
19
argenx
ARGX
$65B
| $79.7M | 0.6% |
961,754
| – | – |
|
20
Cerus
CERS
$566M
| $71.7M | 0.54% |
10,749,937
| – | – |
|
|
AMRN
21
Amarin Corp
AMRN
$298M
| $70M | 0.53% |
1,133,475
| – | – |
|
|
CBAY
22
DELISTED
Cymabay Therapeutics
CBAY
| $66M | 0.5% |
4,917,700
+1,000,000
| +26% | +$12.5M |
|
|
NVTA
23
DELISTED
Invitae Corporation
NVTA
| $61.7M | 0.46% |
8,399,411
| – | – |
|
|
24
Kiniksa Pharmaceuticals
KNSA
$6.17B
| $52M | 0.39% |
+3,000,000
| New | +$54.3M |
|
|
ACGN
25
DELISTED
Aceragen Inc
ACGN
| $51M | 0.38% |
284,511
+98
| +0% | +$22.9K |
|
Similar funds
Julian Baker's Q2 2018 Portfolio in Review
As of Q2 2018, Julian Baker held 124 positions worth $13.3B, up 13% from $11.8B the previous quarter. Its ten largest holdings account for 84% of the portfolio.
Julian Baker deployed $1.01B of net new capital in Q2 2018, opening 10 new positions and adding to 16 existing holdings. Its largest new stake was Kiniksa Pharmaceuticals: 3,000,000 shares worth $52M.
By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 99% a quarter earlier, followed by Technology.
On the sell side, the largest reduction was Exelixis, an estimated $13.4M trimmed.
- Julian Baker's largest Q2 2018 buy was Kiniksa Pharmaceuticals: 3,000,000 shares worth $52M.
- Julian Baker added most to BeOne Medicines Ltd in Q2 2018, an estimated $1.09B increase.
- Julian Baker's biggest Q2 2018 reduction was Exelixis, cutting an estimated $13.4M.
- Julian Baker fully exited AveXis, Inc. Common Stock in Q2 2018, selling an estimated $144M.
- Julian Baker's ten largest holdings make up 84% of its $13.3B portfolio in Q2 2018.
- Julian Baker opened 10 new positions and closed 5 in Q2 2018.
- Julian Baker's portfolio value rose 13% quarter-over-quarter to $13.3B.
Based on Baker Bros. Advisors's 13F filing for Q2 2018, filed 14 Aug 2018.