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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
-9.76%
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
$16.2B
AUM Growth
-$2.57B
Cap. Flow
+$150M
Cap. Flow %
0.93%
Top 10 Hldgs %
86.32%
Holding
116
New
17
Increased
25
Reduced
19
Closed
6

Top Buys

Rank Stock Value
1
ALXN
Alexion Pharmaceuticals
ALXN
+$49.3M
2
ACAD icon
Acadia Pharmaceuticals
ACAD
+$43.3M
3
KOD icon
Kodiak Sciences
KOD
+$31.6M
4
MDGL icon
Madrigal Pharmaceuticals
MDGL
+$27.5M
5
ALLK
Allakos
ALLK
+$27.1M

Top Sells

Rank Stock Value
1
EXAS
Exact Sciences
EXAS
+$60M
2
BOLD
Audentes Therapeutics, Inc
BOLD
+$48.2M
3
ADPT icon
Adaptive Biotechnologies
ADPT
+$10.4M
4
QURE icon
uniQure
QURE
+$9.23M
5
NXTC icon
NextCure
NXTC
+$8.45M

Sector Composition

Rank Sector Weight
1 Healthcare 99.65%
2 Financials 0.01%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SGEN
1
DELISTED
Seagen Inc. Common Stock
SGEN
$5.78B 35.57%
50,060,240
+2,963
+0% +$328K
INCY icon
2
Incyte
INCY
$25.9B
$2.34B 14.42%
31,978,785
+1,912
+0% +$144K
ACAD icon
3
Acadia Pharmaceuticals
ACAD
$5.08B
$1.77B 10.9%
41,904,586
+1,050,000
+3% +$43.3M
ONC
4
BeOne Medicines Ltd
ONC
$42.4B
$1.45B 8.93%
11,777,285
– –
ALXN
5
DELISTED
Alexion Pharmaceuticals
ALXN
$787M 4.84%
8,760,794
+502,726
+6% +$49.3M
BMRN icon
6
BioMarin Pharmaceuticals
BMRN
$12.9B
$641M 3.95%
7,589,294
– –
KOD icon
7
Kodiak Sciences
KOD
$2.41B
$552M 3.4%
11,574,538
+527,249
+5% +$31.6M
ASND icon
8
Ascendis Pharma A/S
ASND
$16.6B
$382M 2.35%
3,390,270
– –
IGMS
9
DELISTED
IGM Biosciences
IGMS
$177M 1.09%
3,144,000
– –
AMRN
10
Amarin Corp
AMRN
$298M
$138M 0.85%
1,724,834
– –
ARGX icon
11
argenx
ARGX
$65B
$134M 0.83%
1,019,557
– –
NVTA
12
DELISTED
Invitae Corporation
NVTA
$124M 0.77%
9,100,615
+3,450
+0% +$63K
PRNB
13
DELISTED
Principia Biopharma Inc. Common Stock
PRNB
$116M 0.72%
1,955,413
+167,456
+9% +$9.76M
MRTX
14
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$108M 0.67%
1,409,784
+102,564
+8% +$9.2M
NBIX icon
15
Neurocrine Biosciences
NBIX
$15.5B
$107M 0.66%
1,240,243
-14,000
-1% -$1.37M
EXAS
16
DELISTED
Exact Sciences
EXAS
$107M 0.66%
1,846,139
-739,652
-29% -$60M
RARX
17
DELISTED
Ra Pharmaceuticals, Inc. Common Stock
RARX
$101M 0.62%
2,093,839
– –
MDGL icon
18
Madrigal Pharmaceuticals
MDGL
$11.9B
$100M 0.62%
1,499,212
+329,934
+28% +$27.5M
MYOK
19
DELISTED
MyoKardia, Inc. Common Stock
MYOK
$83.2M 0.51%
1,774,234
– –
HRTX icon
20
Heron Therapeutics
HRTX
$60.4M
$70.7M 0.44%
6,018,104
– –
CERS icon
21
Cerus
CERS
$566M
$63.8M 0.39%
13,713,195
+2,963,258
+28% +$13.4M
ZYME icon
22
Zymeworks
ZYME
$2.05B
$60.6M 0.37%
1,708,472
– –
TCDA
23
DELISTED
Tricida, Inc. Common Stock
TCDA
$58.7M 0.36%
2,666,015
+696,110
+35% +$22.3M
BCEL
24
DELISTED
Atreca, Inc. Class A Common Stock
BCEL
$58.5M 0.36%
3,532,760
– –
DBVT
25
DBV Technologies
DBVT
$914M
$57.3M 0.35%
1,461,426
– –
1
2 3 4 5

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Julian Baker's Q1 2020 Portfolio in Review

As of Q1 2020, Julian Baker held 116 positions worth $16.2B, down 14% from $18.8B the previous quarter. Its ten largest holdings account for 86% of the portfolio.

Julian Baker's Q1 2020 filing shows 17 new, 25 increased, 19 reduced and 6 closed positions. Its largest new stake was Adaptimmune Therapeutics: 3,690,307 shares worth $10M. The largest sale was Exact Sciences, an estimated $60M.

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

  • Julian Baker's largest Q1 2020 buy was Adaptimmune Therapeutics: 3,690,307 shares worth $10M.
  • Julian Baker added most to Alexion Pharmaceuticals in Q1 2020, an estimated $49.3M increase.
  • Julian Baker's biggest Q1 2020 reduction was Exact Sciences, cutting an estimated $60M.
  • Julian Baker fully exited Audentes Therapeutics, Inc in Q1 2020, selling an estimated $48.2M.
  • Julian Baker's ten largest holdings make up 86% of its $16.2B portfolio in Q1 2020.
  • Julian Baker opened 17 new positions and closed 6 in Q1 2020.
  • Julian Baker's portfolio value fell 14% quarter-over-quarter to $16.2B.

Based on Baker Bros. Advisors's 13F filing for Q1 2020, filed 15 May 2020.