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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
-18.21%
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
$12.2B
AUM Growth
-$2.97B
Cap. Flow
+$24.4M
Cap. Flow %
0.2%
Top 10 Hldgs %
86.1%
Holding
101
New
4
Increased
12
Reduced
21
Closed
10

Top Buys

Rank Stock Value
1
ACAD icon
Acadia Pharmaceuticals
ACAD
+$219M
2
AMRN
Amarin Corp
AMRN
+$155M
3
KOD icon
Kodiak Sciences
KOD
+$81M
4
CMTA
Clementia Pharmaceuticals Inc.
CMTA
+$22.3M
5
KRYS icon
Krystal Biotech
KRYS
+$14M

Top Sells

Rank Stock Value
1
GHDX
Genomic Health, Inc.
GHDX
+$143M
2
SAGE
Sage Therapeutics
SAGE
+$80.2M
3
NVTA
Invitae Corporation
NVTA
+$58.3M
4
ECYT
Endocyte, Inc. Common Stock
ECYT
+$45.3M
5
LKFT
Lakefront Biotherapeutics American Depositary Shares
LKFT
+$21.5M

Sector Composition

Rank Sector Weight
1 Healthcare 99.36%
2 Technology 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SGEN
1
DELISTED
Seagen Inc. Common Stock
SGEN
$2.89B 23.68%
51,046,060
– –
INCY icon
2
Incyte
INCY
$25.9B
$2.18B 17.83%
34,251,607
+298
+0% +$19.4K
ONC
3
BeOne Medicines Ltd
ONC
$42.4B
$1.68B 13.74%
11,959,824
– –
ALXN
4
DELISTED
Alexion Pharmaceuticals
ALXN
$833M 6.82%
8,555,894
– –
GHDX
5
DELISTED
Genomic Health, Inc.
GHDX
$756M 6.19%
11,744,010
-2,046,960
-15% -$143M
BMRN icon
6
BioMarin Pharmaceuticals
BMRN
$12.9B
$646M 5.29%
7,589,294
+6,210
+0.1% +$591K
ACAD icon
7
Acadia Pharmaceuticals
ACAD
$5.08B
$642M 5.26%
39,713,842
+11,274,728
+40% +$219M
AMRN
8
Amarin Corp
AMRN
$298M
$580M 4.75%
2,129,641
+426,166
+25% +$155M
ASND icon
9
Ascendis Pharma A/S
ASND
$16.6B
$178M 1.46%
2,837,352
– –
MDGL icon
10
Madrigal Pharmaceuticals
MDGL
$11.9B
$132M 1.08%
1,169,278
– –
HRTX icon
11
Heron Therapeutics
HRTX
$60.4M
$130M 1.07%
5,018,104
-7,194
-0.1% -$198K
BCRX icon
12
BioCryst Pharmaceuticals
BCRX
$2.44B
$122M 1%
15,103,081
– –
MRTX
13
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$107M 0.87%
2,513,462
– –
ARGX icon
14
argenx
ARGX
$65B
$97.9M 0.8%
1,019,557
– –
KNSA icon
15
Kiniksa Pharmaceuticals
KNSA
$6.17B
$84.3M 0.69%
3,000,000
– –
RYTM icon
16
Rhythm Pharmaceuticals
RYTM
$7.57B
$72.8M 0.6%
2,708,200
– –
ARRY
17
DELISTED
Array Biopharma Inc
ARRY
$71.8M 0.59%
5,041,696
-614,500
-11% -$9.32M
KOD icon
18
Kodiak Sciences
KOD
$2.41B
$64.9M 0.53%
+9,145,115
New +$81M
CERS icon
19
Cerus
CERS
$566M
$54.5M 0.45%
10,749,937
– –
ONCE
20
DELISTED
Spark Therapeutics, Inc. Common Stock
ONCE
$54.2M 0.44%
1,384,130
– –
NBIX icon
21
Neurocrine Biosciences
NBIX
$15.5B
$52.2M 0.43%
730,355
-214,269
-23% -$20.5M
PRNB
22
DELISTED
Principia Biopharma Inc. Common Stock
PRNB
$49M 0.4%
1,787,807
– –
CMTA
23
DELISTED
Clementia Pharmaceuticals Inc.
CMTA
$43.8M 0.36%
3,724,445
+1,790,821
+93% +$22.3M
NVTA
24
DELISTED
Invitae Corporation
NVTA
$43.2M 0.35%
3,902,421
-4,496,990
-54% -$58.3M
GWPH
25
DELISTED
GW Pharmaceuticals Plc American Depositary Shares
GWPH
$41.7M 0.34%
428,345
+31,645
+8% +$4.15M
1
2 3 4

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Julian Baker's Q4 2018 Portfolio in Review

As of Q4 2018, Julian Baker held 101 positions worth $12.2B, down 20% from $15.2B the previous quarter. Its ten largest holdings account for 86% of the portfolio.

Julian Baker's Q4 2018 filing shows 4 new, 12 increased, 21 reduced and 10 closed positions. Its largest new stake was Kodiak Sciences: 9,145,115 shares worth $64.9M. The largest sale was Genomic Health, Inc., an estimated $143M.

By sector, the portfolio is most concentrated in Healthcare at 99% of assets, down from 99% a quarter earlier, followed by Technology.

  • Julian Baker's largest Q4 2018 buy was Kodiak Sciences: 9,145,115 shares worth $64.9M.
  • Julian Baker added most to Acadia Pharmaceuticals in Q4 2018, an estimated $219M increase.
  • Julian Baker's biggest Q4 2018 reduction was Genomic Health, Inc., cutting an estimated $143M.
  • Julian Baker fully exited Sage Therapeutics in Q4 2018, selling an estimated $80.2M.
  • Julian Baker's ten largest holdings make up 86% of its $12.2B portfolio in Q4 2018.
  • Julian Baker opened 4 new positions and closed 10 in Q4 2018.
  • Julian Baker's portfolio value fell 20% quarter-over-quarter to $12.2B.

Based on Baker Bros. Advisors's 13F filing for Q4 2018, filed 13 Feb 2019.