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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
-1.86%
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
$14.7B
AUM Growth
-$908M
Cap. Flow
-$379M
Cap. Flow %
-2.57%
Top 10 Hldgs %
84.38%
Holding
107
New
11
Increased
15
Reduced
16
Closed
4

Top Buys

Rank Stock Value
1
BCEL
Atreca, Inc. Class A Common Stock
BCEL
+$63.8M
2
ADPT icon
Adaptive Biotechnologies
ADPT
+$51.6M
3
NBIX icon
Neurocrine Biosciences
NBIX
+$26M
4
RARX
Ra Pharmaceuticals, Inc. Common Stock
RARX
+$22.4M
5
HRTX icon
Heron Therapeutics
HRTX
+$20M

Top Sells

Rank Stock Value
1
INCY icon
Incyte
INCY
+$184M
2
CMTA
Clementia Pharmaceuticals Inc.
CMTA
+$97.2M
3
SGEN
Seagen Inc. Common Stock
SGEN
+$69.5M
4
GHDX
Genomic Health, Inc.
GHDX
+$55.6M
5
ALXN
Alexion Pharmaceuticals
ALXN
+$38.7M

Sector Composition

Rank Sector Weight
1 Healthcare 99.62%
2 Technology 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SGEN
1
DELISTED
Seagen Inc. Common Stock
SGEN
$3.46B 23.55%
50,057,277
-992,483
-2% -$69.5M
INCY icon
2
Incyte
INCY
$25.9B
$2.72B 18.46%
31,976,193
-2,295,634
-7% -$184M
ONC
3
BeOne Medicines Ltd
ONC
$42.4B
$1.46B 9.92%
11,777,285
-182,539
-2% -$23.2M
ALXN
4
DELISTED
Alexion Pharmaceuticals
ALXN
$1.08B 7.35%
8,258,068
-300,000
-4% -$38.7M
ACAD icon
5
Acadia Pharmaceuticals
ACAD
$5.08B
$1.05B 7.14%
39,292,086
-421,756
-1% -$10.8M
AMRN
6
Amarin Corp
AMRN
$298M
$806M 5.47%
2,077,214
-83,309
-4% -$30.5M
BMRN icon
7
BioMarin Pharmaceuticals
BMRN
$12.9B
$650M 4.42%
7,589,294
– –
GHDX
8
DELISTED
Genomic Health, Inc.
GHDX
$539M 3.66%
9,260,922
-938,021
-9% -$55.6M
ASND icon
9
Ascendis Pharma A/S
ASND
$16.6B
$390M 2.65%
3,390,270
– –
MRTX
10
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$259M 1.76%
2,513,462
– –
ARGX icon
11
argenx
ARGX
$65B
$144M 0.98%
1,019,557
– –
ARRY
12
DELISTED
Array Biopharma Inc
ARRY
$132M 0.9%
2,848,567
-993,722
-26% -$27.9M
MDGL icon
13
Madrigal Pharmaceuticals
MDGL
$11.9B
$123M 0.83%
1,169,278
– –
NBIX icon
14
Neurocrine Biosciences
NBIX
$15.5B
$119M 0.81%
1,415,283
+316,613
+29% +$26M
HRTX icon
15
Heron Therapeutics
HRTX
$60.4M
$112M 0.76%
6,018,104
+1,000,000
+20% +$20M
KOD icon
16
Kodiak Sciences
KOD
$2.41B
$107M 0.73%
9,145,115
– –
NVTA
17
DELISTED
Invitae Corporation
NVTA
$91.7M 0.62%
3,902,421
– –
TCDA
18
DELISTED
Tricida, Inc. Common Stock
TCDA
$77.7M 0.53%
1,969,905
+166,667
+9% +$5.86M
ONCE
19
DELISTED
Spark Therapeutics, Inc. Common Stock
ONCE
$77M 0.52%
751,927
– –
BCEL
20
DELISTED
Atreca, Inc. Class A Common Stock
BCEL
$66.6M 0.45%
+3,532,760
New +$63.8M
GWPH
21
DELISTED
GW Pharmaceuticals Plc American Depositary Shares
GWPH
$63.9M 0.43%
370,845
-57,500
-13% -$9.95M
INSM icon
22
Insmed
INSM
$27.5B
$63M 0.43%
2,462,216
+384,615
+19% +$10.7M
CERS icon
23
Cerus
CERS
$566M
$60.4M 0.41%
10,749,937
– –
RYTM icon
24
Rhythm Pharmaceuticals
RYTM
$7.57B
$59.6M 0.4%
2,708,200
– –
PRNB
25
DELISTED
Principia Biopharma Inc. Common Stock
PRNB
$59.3M 0.4%
1,787,807
– –
1
2 3 4 5

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Julian Baker's Q2 2019 Portfolio in Review

As of Q2 2019, Julian Baker held 107 positions worth $14.7B, down 5.8% from $15.6B the previous quarter. Its ten largest holdings account for 84% of the portfolio.

Julian Baker's Q2 2019 filing shows 11 new, 15 increased, 16 reduced and 4 closed positions. Its largest new stake was Atreca, Inc. Class A Common Stock: 3,532,760 shares worth $66.6M. The largest sale was Incyte, an estimated $184M.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 99% a quarter earlier, followed by Technology.

  • Julian Baker's largest Q2 2019 buy was Atreca, Inc. Class A Common Stock: 3,532,760 shares worth $66.6M.
  • Julian Baker added most to Neurocrine Biosciences in Q2 2019, an estimated $26M increase.
  • Julian Baker's biggest Q2 2019 reduction was Incyte, cutting an estimated $184M.
  • Julian Baker fully exited Clementia Pharmaceuticals Inc. in Q2 2019, selling an estimated $97.2M.
  • Julian Baker's ten largest holdings make up 84% of its $14.7B portfolio in Q2 2019.
  • Julian Baker opened 11 new positions and closed 4 in Q2 2019.
  • Julian Baker's portfolio value fell 5.8% quarter-over-quarter to $14.7B.

Based on Baker Bros. Advisors's 13F filing for Q2 2019, filed 14 Aug 2019.