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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
+3.6%
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
$22.8B
AUM Growth
-$295M
Cap. Flow
-$688M
Cap. Flow %
-3.02%
Top 10 Hldgs %
81.57%
Holding
135
New
6
Increased
16
Reduced
10
Closed
15

Top Buys

Rank Stock Value
1
VERV
Verve Therapeutics
VERV
+$58.8M
2
LEGN icon
Legend Biotech
LEGN
+$52.6M
3
HRTX icon
Heron Therapeutics
HRTX
+$34M
4
JBIO
Jade Biosciences
JBIO
+$32.6M
5
APLS
Apellis Pharmaceuticals
APLS
+$30.9M

Top Sells

Rank Stock Value
1
ALXN
Alexion Pharmaceuticals
ALXN
+$611M
2
NVTA
Invitae Corporation
NVTA
+$179M
3
CCXI
ChemoCentryx, Inc.
CCXI
+$33.6M
4
PTGX icon
Protagonist Therapeutics
PTGX
+$32.4M
5
ALT icon
Altimmune
ALT
+$23.1M

Sector Composition

Rank Sector Weight
1 Healthcare 99.26%
2 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SGEN
1
DELISTED
Seagen Inc. Common Stock
SGEN
$7.47B 32.79%
47,288,259
+17,500
+0% +$2.6M
ONC
2
BeOne Medicines Ltd
ONC
$42.4B
$4B 17.59%
11,668,897
– –
INCY icon
3
Incyte
INCY
$25.9B
$2.69B 11.83%
32,021,732
+20,345
+0.1% +$1.7M
KOD icon
4
Kodiak Sciences
KOD
$2.41B
$1.31B 5.77%
14,137,881
+257,929
+2% +$24.8M
ACAD icon
5
Acadia Pharmaceuticals
ACAD
$5.08B
$1.02B 4.49%
41,910,704
– –
BMRN icon
6
BioMarin Pharmaceuticals
BMRN
$12.9B
$633M 2.78%
7,589,294
– –
ASND icon
7
Ascendis Pharma A/S
ASND
$16.6B
$466M 2.05%
3,540,270
– –
NVTA
8
DELISTED
Invitae Corporation
NVTA
$346M 1.52%
10,248,575
-5,500,607
-35% -$179M
ARGX icon
9
argenx
ARGX
$65B
$337M 1.48%
1,119,557
– –
PRLD icon
10
Prelude Therapeutics
PRLD
$529M
$290M 1.27%
10,123,824
– –
IGMS
11
DELISTED
IGM Biosciences
IGMS
$263M 1.15%
3,156,102
– –
ABCL icon
12
AbCellera Biologics
ABCL
$3.67B
$230M 1.01%
10,450,180
– –
MRTX
13
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$228M 1%
1,409,784
– –
BCRX icon
14
BioCryst Pharmaceuticals
BCRX
$2.44B
$201M 0.88%
12,710,818
– –
MDGL icon
15
Madrigal Pharmaceuticals
MDGL
$11.9B
$146M 0.64%
1,499,213
– –
APLS
16
DELISTED
Apellis Pharmaceuticals
APLS
$144M 0.63%
2,271,917
+597,913
+36% +$30.9M
HRTX icon
17
Heron Therapeutics
HRTX
$60.4M
$126M 0.55%
8,131,678
+2,136,974
+36% +$34M
AMRN
18
Amarin Corp
AMRN
$298M
$116M 0.51%
1,322,671
– –
GBT
19
DELISTED
Global Blood Therapeutics, Inc.
GBT
$113M 0.49%
3,217,441
– –
PACB icon
20
Pacific Biosciences
PACB
$420M
$112M 0.49%
3,201,972
– –
IMCR icon
21
Immunocore
IMCR
$1.9B
$98.4M 0.43%
2,520,730
– –
KYMR icon
22
Kymera Therapeutics
KYMR
$9.96B
$95M 0.42%
1,959,211
– –
VSTM icon
23
Verastem
VSTM
$624M
$87.5M 0.38%
1,790,969
+372,694
+26% +$15.5M
VERV
24
DELISTED
Verve Therapeutics
VERV
$85.3M 0.37%
+1,416,530
New +$58.8M
TLIS
25
DELISTED
Talis Biomedical Corporation Common Stock
TLIS
$83.5M 0.37%
504,989
– –
1
2 3 4 5

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Julian Baker's Q2 2021 Portfolio in Review

As of Q2 2021, Julian Baker held 135 positions worth $22.8B, down 1.3% from $23.1B the previous quarter. Its ten largest holdings account for 82% of the portfolio.

Julian Baker withdrew a net $688M in Q2 2021, closing 15 positions and reducing 10 holdings. Its most notable exit was Alexion Pharmaceuticals, an estimated $611M position sold in full.

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

Against the trend, Julian Baker opened a new position in Verve Therapeutics worth $85.3M.

  • Julian Baker's largest Q2 2021 buy was Verve Therapeutics: 1,416,530 shares worth $85.3M.
  • Julian Baker added most to Legend Biotech in Q2 2021, an estimated $52.6M increase.
  • Julian Baker's biggest Q2 2021 reduction was Invitae Corporation, cutting an estimated $179M.
  • Julian Baker fully exited Alexion Pharmaceuticals in Q2 2021, selling an estimated $611M.
  • Julian Baker's ten largest holdings make up 82% of its $22.8B portfolio in Q2 2021.
  • Julian Baker opened 6 new positions and closed 15 in Q2 2021.
  • Julian Baker's portfolio value fell 1.3% quarter-over-quarter to $22.8B.

Based on Baker Bros. Advisors's 13F filing for Q2 2021, filed 16 Aug 2021.