Julian Baker Baker Bros. Advisors
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.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
TLIS
Talis Biomedical Corporation Common Stock
TLIS
|
+$126M |
| 2 |
Immunocore
IMCR
|
+$112M |
| 3 |
GBT
Global Blood Therapeutics, Inc.
GBT
|
+$106M |
| 4 |
Instil Bio
TIL
|
+$99.9M |
| 5 |
Design Therapeutics
DSGN
|
+$48.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ALXN
Alexion Pharmaceuticals
ALXN
|
+$737M |
| 2 |
Korro Bio
KRRO
|
+$31.1M |
| 3 |
Adaptive Biotechnologies
ADPT
|
+$22.5M |
| 4 |
GWPH
GW Pharmaceuticals Plc American Depositary Shares
GWPH
|
+$13M |
| 5 |
FPRX
Five Prime Therapeutics, Inc.
FPRX
|
+$11.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 99.81% |
| 2 | Financials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
SGEN
1
DELISTED
Seagen Inc. Common Stock
SGEN
| $6.56B | 28.46% |
47,270,759
+1,335
| +0% | +$215K |
|
|
ONC
2
BeOne Medicines Ltd
ONC
$42.4B
| $4.06B | 17.61% |
11,668,897
| – | – |
|
3
Incyte
INCY
$25.9B
| $2.6B | 11.28% |
32,001,387
+1,646
| +0% | +$140K |
|
4
Kodiak Sciences
KOD
$2.41B
| $1.57B | 6.82% |
13,879,952
| – | – |
|
5
Acadia Pharmaceuticals
ACAD
$5.08B
| $1.08B | 4.69% |
41,910,704
+6,118
| +0% | +$269K |
|
|
ALXN
6
DELISTED
Alexion Pharmaceuticals
ALXN
| $611M | 2.65% |
3,993,312
-4,767,482
| -54% | -$737M |
|
|
NVTA
7
DELISTED
Invitae Corporation
NVTA
| $602M | 2.61% |
15,749,182
+100,000
| +0.6% | +$4.55M |
|
8
BioMarin Pharmaceuticals
BMRN
$12.9B
| $573M | 2.48% |
7,589,294
| – | – |
|
9
Ascendis Pharma A/S
ASND
$16.6B
| $456M | 1.98% |
3,540,270
| – | – |
|
10
Prelude Therapeutics
PRLD
$529M
| $439M | 1.9% |
10,123,824
+5,188
| +0.1% | +$344K |
|
11
AbCellera Biologics
ABCL
$3.67B
| $355M | 1.54% |
10,450,180
| – | – |
|
12
argenx
ARGX
$65B
| $308M | 1.34% |
1,119,557
+100,000
| +10% | +$31.6M |
|
|
IGMS
13
DELISTED
IGM Biosciences
IGMS
| $242M | 1.05% |
3,156,102
+11,210
| +0.4% | +$1.02M |
|
|
MRTX
14
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $241M | 1.05% |
1,409,784
| – | – |
|
15
Madrigal Pharmaceuticals
MDGL
$11.9B
| $175M | 0.76% |
1,499,213
| – | – |
|
|
AMRN
16
Amarin Corp
AMRN
$298M
| $164M | 0.71% |
1,322,671
-76,917
| -5% | -$10.3M |
|
|
GBT
17
DELISTED
Global Blood Therapeutics, Inc.
GBT
| $131M | 0.57% |
3,217,441
+2,297,066
| +250% | +$106M |
|
18
BioCryst Pharmaceuticals
BCRX
$2.44B
| $129M | 0.56% |
12,710,818
+15,000
| +0.1% | +$155K |
|
|
19
Immunocore
IMCR
$1.9B
| $107M | 0.47% |
+2,520,730
| New | +$112M |
|
20
Pacific Biosciences
PACB
$420M
| $107M | 0.46% |
3,201,972
| – | – |
|
|
21
Instil Bio
TIL
$51.4M
| $97.7M | 0.42% |
+194,685
| New | +$99.9M |
|
|
TLIS
22
DELISTED
Talis Biomedical Corporation Common Stock
TLIS
| $97.3M | 0.42% |
+504,989
| New | +$126M |
|
23
Heron Therapeutics
HRTX
$60.4M
| $97.2M | 0.42% |
5,994,704
| – | – |
|
24
Cerus
CERS
$566M
| $82.4M | 0.36% |
13,713,195
| – | – |
|
|
ALLK
25
DELISTED
Allakos
ALLK
| $80.7M | 0.35% |
703,050
-11,200
| -2% | -$1.41M |
|
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Julian Baker's Q1 2021 Portfolio in Review
As of Q1 2021, Julian Baker held 138 positions worth $23.1B, down 13% from $26.5B the previous quarter. Its ten largest holdings account for 80% of the portfolio.
Julian Baker's Q1 2021 filing shows 11 new, 23 increased, 15 reduced and 12 closed positions. Its largest new stake was Talis Biomedical Corporation Common Stock: 504,989 shares worth $97.3M. The largest sale was Alexion Pharmaceuticals, an estimated $737M.
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 2021 buy was Talis Biomedical Corporation Common Stock: 504,989 shares worth $97.3M.
- Julian Baker added most to Global Blood Therapeutics, Inc. in Q1 2021, an estimated $106M increase.
- Julian Baker's biggest Q1 2021 reduction was Alexion Pharmaceuticals, cutting an estimated $737M.
- Julian Baker fully exited Adaptive Biotechnologies in Q1 2021, selling an estimated $22.5M.
- Julian Baker's ten largest holdings make up 80% of its $23.1B portfolio in Q1 2021.
- Julian Baker opened 11 new positions and closed 12 in Q1 2021.
- Julian Baker's portfolio value fell 13% quarter-over-quarter to $23.1B.
Based on Baker Bros. Advisors's 13F filing for Q1 2021, filed 17 May 2021.