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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
+18.97%
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
$26.5B
AUM Growth
+$1.52B
Cap. Flow
-$117M
Cap. Flow %
-0.44%
Top 10 Hldgs %
84.24%
Holding
133
New
14
Increased
16
Reduced
60
Closed
7

Top Buys

Rank Stock Value
1
ABCL icon
AbCellera Biologics
ABCL
+$478M
2
NVTA
Invitae Corporation
NVTA
+$181M
3
KOD icon
Kodiak Sciences
KOD
+$170M
4
RARE icon
Ultragenyx Pharmaceutical
RARE
+$52.7M
5
OPT
Opthea Limited American Depositary Shares
OPT
+$41.8M

Top Sells

Rank Stock Value
1
ONC
BeOne Medicines Ltd
ONC
+$450M
2
MYOK
MyoKardia, Inc. Common Stock
MYOK
+$410M
3
EXAS
Exact Sciences
EXAS
+$188M
4
IMMU
Immunomedics Inc
IMMU
+$20.2M
5
AMRN
Amarin Corp
AMRN
+$19.4M

Sector Composition

Rank Sector Weight
1 Healthcare 99.87%
2 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SGEN
1
DELISTED
Seagen Inc. Common Stock
SGEN
$8.28B 31.19%
47,269,424
– –
ONC
2
BeOne Medicines Ltd
ONC
$42.4B
$3.02B 11.36%
11,668,897
-1,632,700
-12% -$450M
INCY icon
3
Incyte
INCY
$25.9B
$2.78B 10.49%
31,999,741
+343
+0% +$29.7K
ACAD icon
4
Acadia Pharmaceuticals
ACAD
$5.08B
$2.24B 8.44%
41,904,586
– –
KOD icon
5
Kodiak Sciences
KOD
$2.41B
$2.04B 7.68%
13,879,952
+1,527,777
+12% +$170M
ALXN
6
DELISTED
Alexion Pharmaceuticals
ALXN
$1.37B 5.16%
8,760,794
– –
PRLD icon
7
Prelude Therapeutics
PRLD
$529M
$724M 2.73%
10,118,636
– –
BMRN icon
8
BioMarin Pharmaceuticals
BMRN
$12.9B
$666M 2.51%
7,589,294
– –
NVTA
9
DELISTED
Invitae Corporation
NVTA
$654M 2.47%
15,649,182
+3,798,220
+32% +$181M
ASND icon
10
Ascendis Pharma A/S
ASND
$16.6B
$590M 2.22%
3,540,270
– –
ABCL icon
11
AbCellera Biologics
ABCL
$3.67B
$421M 1.58%
+10,450,180
New +$478M
MRTX
12
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$310M 1.17%
1,409,784
– –
ARGX icon
13
argenx
ARGX
$65B
$300M 1.13%
1,019,557
– –
IGMS
14
DELISTED
IGM Biosciences
IGMS
$278M 1.05%
3,144,892
+446
+0% +$31.4K
MDGL icon
15
Madrigal Pharmaceuticals
MDGL
$11.9B
$167M 0.63%
1,499,213
– –
AMRN
16
Amarin Corp
AMRN
$298M
$137M 0.52%
1,399,588
-201,355
-13% -$19.4M
HRTX icon
17
Heron Therapeutics
HRTX
$60.4M
$127M 0.48%
5,994,704
– –
KYMR icon
18
Kymera Therapeutics
KYMR
$9.96B
$121M 0.46%
1,959,211
– –
ALLK
19
DELISTED
Allakos
ALLK
$100M 0.38%
714,250
+15,781
+2% +$1.64M
CERS icon
20
Cerus
CERS
$566M
$94.9M 0.36%
13,713,195
– –
BCRX icon
21
BioCryst Pharmaceuticals
BCRX
$2.44B
$94.6M 0.36%
12,695,818
– –
PACB icon
22
Pacific Biosciences
PACB
$420M
$83.1M 0.31%
3,201,972
-48,028
-1% -$816K
ZYME icon
23
Zymeworks
ZYME
$2.05B
$80.7M 0.3%
1,708,472
– –
INSM icon
24
Insmed
INSM
$27.5B
$71.8M 0.27%
2,156,001
-116,711
-5% -$4.26M
FMTX
25
DELISTED
Forma Therapeutics Holdings, Inc. Common Stock
FMTX
$70.7M 0.27%
2,024,876
+253,367
+14% +$11M
1
2 3 4 5

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Julian Baker's Q4 2020 Portfolio in Review

As of Q4 2020, Julian Baker held 133 positions worth $26.5B, up 6.1% from $25B the previous quarter. Its ten largest holdings account for 84% of the portfolio.

Julian Baker's Q4 2020 filing shows 14 new, 16 increased, 60 reduced and 7 closed positions. Its largest new stake was AbCellera Biologics: 10,450,180 shares worth $421M. The largest sale was BeOne Medicines Ltd, an estimated $450M.

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

  • Julian Baker's largest Q4 2020 buy was AbCellera Biologics: 10,450,180 shares worth $421M.
  • Julian Baker added most to Invitae Corporation in Q4 2020, an estimated $181M increase.
  • Julian Baker's biggest Q4 2020 reduction was BeOne Medicines Ltd, cutting an estimated $450M.
  • Julian Baker fully exited MyoKardia, Inc. Common Stock in Q4 2020, selling an estimated $410M.
  • Julian Baker's ten largest holdings make up 84% of its $26.5B portfolio in Q4 2020.
  • Julian Baker opened 14 new positions and closed 7 in Q4 2020.
  • Julian Baker's portfolio value rose 6.1% quarter-over-quarter to $26.5B.

Based on Baker Bros. Advisors's 13F filing for Q4 2020, filed 16 Feb 2021.