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 |
Ascendis Pharma A/S
ASND
|
+$137M |
| 2 |
Pacific Biosciences
PACB
|
+$66.5M |
| 3 |
Kodiak Sciences
KOD
|
+$50.2M |
| 4 |
BLUE
bluebird bio
BLUE
|
+$50.2M |
| 5 |
Travere Therapeutics
TVTX
|
+$34M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
APLS
Apellis Pharmaceuticals
APLS
|
+$144M |
| 2 |
ADC Therapeutics
ADCT
|
+$34.5M |
| 3 |
AMRN
Amarin Corp
AMRN
|
+$22.6M |
| 4 |
Protagonist Therapeutics
PTGX
|
+$20.4M |
| 5 |
NVTA
Invitae Corporation
NVTA
|
+$11M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 99.14% |
| 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
| $8.03B | 35.26% |
47,288,259
| – | – |
|
|
ONC
2
BeOne Medicines Ltd
ONC
$42.4B
| $4.24B | 18.6% |
11,668,897
| – | – |
|
3
Incyte
INCY
$25.9B
| $2.2B | 9.67% |
32,022,125
+393
| +0% | +$29.9K |
|
|
4
Kodiak Sciences
KOD
$2.41B
| $1.41B | 6.19% |
14,681,304
+543,423
| +4% | +$50.2M |
|
|
5
Ascendis Pharma A/S
ASND
$16.6B
| $724M | 3.18% |
4,541,604
+1,001,334
| +28% | +$137M |
|
6
Acadia Pharmaceuticals
ACAD
$5.08B
| $696M | 3.06% |
41,910,704
| – | – |
|
7
BioMarin Pharmaceuticals
BMRN
$12.9B
| $589M | 2.59% |
7,620,494
+31,200
| +0.4% | +$2.46M |
|
8
argenx
ARGX
$65B
| $338M | 1.48% |
1,119,557
| – | – |
|
9
Prelude Therapeutics
PRLD
$529M
| $316M | 1.39% |
10,123,824
| – | – |
|
|
NVTA
10
DELISTED
Invitae Corporation
NVTA
| $281M | 1.23% |
9,873,488
-375,087
| -4% | -$11M |
|
|
MRTX
11
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $249M | 1.1% |
1,409,784
| – | – |
|
12
AbCellera Biologics
ABCL
$3.67B
| $209M | 0.92% |
10,450,180
| – | – |
|
|
IGMS
13
DELISTED
IGM Biosciences
IGMS
| $208M | 0.91% |
3,156,102
| – | – |
|
14
BioCryst Pharmaceuticals
BCRX
$2.44B
| $183M | 0.8% |
12,710,818
| – | – |
|
15
Kymera Therapeutics
KYMR
$9.96B
| $140M | 0.62% |
2,384,742
+425,531
| +22% | +$24.7M |
|
|
16
Pacific Biosciences
PACB
$420M
| $139M | 0.61% |
5,444,963
+2,242,991
| +70% | +$66.5M |
|
17
Madrigal Pharmaceuticals
MDGL
$11.9B
| $120M | 0.53% |
1,499,213
| – | – |
|
18
Legend Biotech
LEGN
$4.24B
| $120M | 0.52% |
2,364,003
+699,469
| +42% | +$29.1M |
|
|
AMRN
19
Amarin Corp
AMRN
$298M
| $111M | 0.49% |
1,092,802
-229,869
| -17% | -$22.6M |
|
20
Immunocore
IMCR
$1.9B
| $93.4M | 0.41% |
2,520,730
| – | – |
|
21
Heron Therapeutics
HRTX
$60.4M
| $86.9M | 0.38% |
8,131,678
| – | – |
|
22
Cerus
CERS
$566M
| $83.5M | 0.37% |
13,713,195
| – | – |
|
|
GBT
23
DELISTED
Global Blood Therapeutics, Inc.
GBT
| $82M | 0.36% |
3,217,441
| – | – |
|
|
ALLK
24
DELISTED
Allakos
ALLK
| $74.4M | 0.33% |
703,050
| – | – |
|
25
Nurix Therapeutics
NRIX
$2.77B
| $73.5M | 0.32% |
2,454,082
| – | – |
|
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Julian Baker's Q3 2021 Portfolio in Review
As of Q3 2021, Julian Baker held 132 positions worth $22.8B, up 0.01% from $22.8B the previous quarter. Its ten largest holdings account for 83% of the portfolio.
Julian Baker's Q3 2021 filing shows 12 new, 20 increased, 6 reduced and 10 closed positions. Its largest new stake was Surrozen: 166,667 shares worth $17.7M. The largest sale was Apellis Pharmaceuticals, an estimated $144M.
By sector, the portfolio is most concentrated in Healthcare at 99% of assets, down from 99% a quarter earlier, followed by Financials.
- Julian Baker's largest Q3 2021 buy was Surrozen: 166,667 shares worth $17.7M.
- Julian Baker added most to Ascendis Pharma A/S in Q3 2021, an estimated $137M increase.
- Julian Baker's biggest Q3 2021 reduction was Amarin Corp, cutting an estimated $22.6M.
- Julian Baker fully exited Apellis Pharmaceuticals in Q3 2021, selling an estimated $144M.
- Julian Baker's ten largest holdings make up 83% of its $22.8B portfolio in Q3 2021.
- Julian Baker opened 12 new positions and closed 10 in Q3 2021.
- Julian Baker's portfolio value rose 0.01% quarter-over-quarter to $22.8B.
Based on Baker Bros. Advisors's 13F filing for Q3 2021, filed 15 Nov 2021.