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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
+49.04%
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
$18.8B
AUM Growth
+$4.11B
Cap. Flow
-$554M
Cap. Flow %
-2.95%
Top 10 Hldgs %
85.02%
Holding
117
New
8
Increased
21
Reduced
10
Closed
18

Top Buys

Rank Stock Value
1
EXAS
Exact Sciences
EXAS
+$227M
2
DBVT
DBV Technologies
DBVT
+$72.8M
3
KOD icon
Kodiak Sciences
KOD
+$69.2M
4
KRRO icon
Korro Bio
KRRO
+$19.2M
5
AUPH icon
Aurinia Pharmaceuticals
AUPH
+$15.7M

Top Sells

Rank Stock Value
1
GHDX
Genomic Health, Inc.
GHDX
+$627M
2
AMRN
Amarin Corp
AMRN
+$134M
3
ONCE
Spark Therapeutics, Inc. Common Stock
ONCE
+$72.9M
4
NGNE icon
Neurogene
NGNE
+$39.4M
5
CBAY
Cymabay Therapeutics
CBAY
+$29.2M

Sector Composition

Rank Sector Weight
1 Healthcare 99.66%
2 Financials 0.01%
3 Technology 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SGEN
1
DELISTED
Seagen Inc. Common Stock
SGEN
$5.72B 30.41%
50,057,277
– –
INCY icon
2
Incyte
INCY
$25.9B
$2.79B 14.84%
31,976,873
+316
+0% +$27K
ONC
3
BeOne Medicines Ltd
ONC
$42.4B
$1.95B 10.38%
11,777,285
– –
ACAD icon
4
Acadia Pharmaceuticals
ACAD
$5.08B
$1.75B 9.29%
40,854,586
– –
ALXN
5
DELISTED
Alexion Pharmaceuticals
ALXN
$893M 4.75%
8,258,068
– –
KOD icon
6
Kodiak Sciences
KOD
$2.41B
$795M 4.23%
11,047,289
+1,902,173
+21% +$69.2M
AMRN
7
Amarin Corp
AMRN
$298M
$740M 3.93%
1,724,834
-352,380
-17% -$134M
BMRN icon
8
BioMarin Pharmaceuticals
BMRN
$12.9B
$642M 3.41%
7,589,294
– –
ASND icon
9
Ascendis Pharma A/S
ASND
$16.6B
$472M 2.51%
3,390,270
– –
EXAS
10
DELISTED
Exact Sciences
EXAS
$239M 1.27%
+2,585,791
New +$227M
MRTX
11
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$168M 0.9%
1,307,220
– –
ARGX icon
12
argenx
ARGX
$65B
$164M 0.87%
1,019,557
– –
DBVT
13
DBV Technologies
DBVT
$914M
$156M 0.83%
1,461,426
+910,470
+165% +$72.8M
NVTA
14
DELISTED
Invitae Corporation
NVTA
$147M 0.78%
9,097,165
+304,487
+3% +$5.38M
HRTX icon
15
Heron Therapeutics
HRTX
$60.4M
$141M 0.75%
6,018,104
– –
NBIX icon
16
Neurocrine Biosciences
NBIX
$15.5B
$135M 0.72%
1,254,243
-161,040
-11% -$16.9M
MYOK
17
DELISTED
MyoKardia, Inc. Common Stock
MYOK
$129M 0.69%
1,774,234
+256,997
+17% +$15.6M
IGMS
18
DELISTED
IGM Biosciences
IGMS
$120M 0.64%
3,144,000
– –
MDGL icon
19
Madrigal Pharmaceuticals
MDGL
$11.9B
$107M 0.57%
1,169,278
– –
RARX
20
DELISTED
Ra Pharmaceuticals, Inc. Common Stock
RARX
$98.3M 0.52%
2,093,839
-251,657
-11% -$11.1M
PRNB
21
DELISTED
Principia Biopharma Inc. Common Stock
PRNB
$97.9M 0.52%
1,787,957
+133,928
+8% +$5M
AXSM icon
22
Axsome Therapeutics
AXSM
$10.9B
$85.8M 0.46%
829,757
+57,471
+7% +$2.32M
ZYME icon
23
Zymeworks
ZYME
$2.05B
$77.7M 0.41%
1,708,472
– –
TCDA
24
DELISTED
Tricida, Inc. Common Stock
TCDA
$74.3M 0.4%
1,969,905
– –
RYTM icon
25
Rhythm Pharmaceuticals
RYTM
$7.57B
$62.2M 0.33%
2,708,200
– –
1
2 3 4 5

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Julian Baker's Q4 2019 Portfolio in Review

As of Q4 2019, Julian Baker held 117 positions worth $18.8B, up 28% from $14.7B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Julian Baker's Q4 2019 filing shows 8 new, 21 increased, 10 reduced and 18 closed positions. Its largest new stake was Exact Sciences: 2,585,791 shares worth $239M. The largest sale was Genomic Health, Inc., an estimated $627M.

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

  • Julian Baker's largest Q4 2019 buy was Exact Sciences: 2,585,791 shares worth $239M.
  • Julian Baker added most to DBV Technologies in Q4 2019, an estimated $72.8M increase.
  • Julian Baker's biggest Q4 2019 reduction was Amarin Corp, cutting an estimated $134M.
  • Julian Baker fully exited Genomic Health, Inc. in Q4 2019, selling an estimated $627M.
  • Julian Baker's ten largest holdings make up 85% of its $18.8B portfolio in Q4 2019.
  • Julian Baker opened 8 new positions and closed 18 in Q4 2019.
  • Julian Baker's portfolio value rose 28% quarter-over-quarter to $18.8B.

Based on Baker Bros. Advisors's 13F filing for Q4 2019, filed 14 Feb 2020.