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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
-9.09%
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
$17.4B
AUM Growth
-$3.15B
Cap. Flow
+$225M
Cap. Flow %
1.29%
Top 10 Hldgs %
85.01%
Holding
121
New
2
Increased
15
Reduced
4
Closed
3

Top Buys

Rank Stock Value
1
INCY icon
Incyte
INCY
+$184M
2
KOD icon
Kodiak Sciences
KOD
+$48.8M
3
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$29.2M
4
TSVT
2seventy bio
TSVT
+$20.9M
5
REPL icon
Replimune Group
REPL
+$19.2M

Top Sells

Rank Stock Value
1
CCXI
ChemoCentryx, Inc.
CCXI
+$20.1M
2
LEGN icon
Legend Biotech
LEGN
+$19M
3
OPT
Opthea Limited American Depositary Shares
OPT
+$3.19M
4
ALBO
Albireo Pharma Inc
ALBO
+$2.43M
5
GMDA
Gamida Cell Ltd. Ordinary Shares
GMDA
+$1.55M

Sector Composition

Rank Sector Weight
1 Healthcare 99.5%
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
$6.76B 38.83%
46,912,266
+18,902
+0% +$2.56M
INCY icon
2
Incyte
INCY
$25.9B
$2.87B 16.5%
36,153,684
+2,535,621
+8% +$184M
ONC
3
BeOne Medicines Ltd
ONC
$42.4B
$2.2B 12.65%
11,668,897
– –
ACAD icon
4
Acadia Pharmaceuticals
ACAD
$5.08B
$1.02B 5.83%
41,910,704
– –
BMRN icon
5
BioMarin Pharmaceuticals
BMRN
$12.9B
$588M 3.38%
7,620,494
– –
ASND icon
6
Ascendis Pharma A/S
ASND
$16.6B
$533M 3.06%
4,541,604
– –
ARGX icon
7
argenx
ARGX
$65B
$353M 2.03%
1,119,557
– –
BCRX icon
8
BioCryst Pharmaceuticals
BCRX
$2.44B
$207M 1.19%
12,710,818
– –
MDGL icon
9
Madrigal Pharmaceuticals
MDGL
$11.9B
$147M 0.85%
1,499,213
– –
KOD icon
10
Kodiak Sciences
KOD
$2.41B
$123M 0.71%
15,931,045
+1,249,741
+9% +$48.8M
MRTX
11
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$116M 0.67%
1,409,784
– –
GBT
12
DELISTED
Global Blood Therapeutics, Inc.
GBT
$115M 0.66%
3,314,765
– –
ABCL icon
13
AbCellera Biologics
ABCL
$3.67B
$102M 0.59%
10,450,180
– –
KYMR icon
14
Kymera Therapeutics
KYMR
$9.96B
$101M 0.58%
2,384,742
– –
HZNP
15
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$94.6M 0.54%
898,842
+299,732
+50% +$29.2M
TVTX icon
16
Travere Therapeutics
TVTX
$6.19B
$85M 0.49%
3,300,009
+630,955
+24% +$16.8M
IGMS
17
DELISTED
IGM Biosciences
IGMS
$84.4M 0.48%
3,156,102
– –
NVTA
18
DELISTED
Invitae Corporation
NVTA
$78.7M 0.45%
9,873,488
– –
IMCR icon
19
Immunocore
IMCR
$1.9B
$75.4M 0.43%
2,520,730
– –
CERS icon
20
Cerus
CERS
$566M
$75.3M 0.43%
13,713,195
– –
LEGN icon
21
Legend Biotech
LEGN
$4.24B
$73M 0.42%
2,008,999
-480,004
-19% -$19M
PRLD icon
22
Prelude Therapeutics
PRLD
$529M
$69.9M 0.4%
10,123,824
– –
AMRN
23
Amarin Corp
AMRN
$298M
$69.6M 0.4%
1,058,490
– –
NBIX icon
24
Neurocrine Biosciences
NBIX
$15.5B
$63.5M 0.36%
676,975
– –
MRUS
25
DELISTED
Merus
MRUS
$53.9M 0.31%
2,037,469
– –
1
2 3 4 5

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Julian Baker's Q1 2022 Portfolio in Review

As of Q1 2022, Julian Baker held 121 positions worth $17.4B, down 15% from $20.6B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Trading was light in Q1 2022: portfolio turnover was 4.1%. Julian Baker opened 2 new positions and exited 3, leaving the 121-position portfolio largely intact.

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

  • Julian Baker's largest Q1 2022 buy was Vera Therapeutics: 333,333 shares worth $7.83M.
  • Julian Baker added most to Incyte in Q1 2022, an estimated $184M increase.
  • Julian Baker's biggest Q1 2022 reduction was ChemoCentryx, Inc., cutting an estimated $20.1M.
  • Julian Baker fully exited Albireo Pharma Inc in Q1 2022, selling an estimated $2.43M.
  • Julian Baker's ten largest holdings make up 85% of its $17.4B portfolio in Q1 2022.
  • Julian Baker opened 2 new positions and closed 3 in Q1 2022.
  • Julian Baker's portfolio value fell 15% quarter-over-quarter to $17.4B.

Based on Baker Bros. Advisors's 13F filing for Q1 2022, filed 16 May 2022.