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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
-1.31%
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
$15.3B
AUM Growth
-$2.36B
Cap. Flow
-$405M
Cap. Flow %
-2.65%
Top 10 Hldgs %
84.69%
Holding
128
New
12
Increased
7
Reduced
17
Closed
13

Top Buys

Rank Stock Value
1
RYTM icon
Rhythm Pharmaceuticals
RYTM
+$36M
2
AKRO
Akero Therapeutics
AKRO
+$34.4M
3
VERU icon
Veru
VERU
+$23.2M
4
CINC
CinCor Pharma, Inc. Common Stock
CINC
+$22.8M
5
IDYA icon
IDEAYA Biosciences
IDYA
+$21.7M

Top Sells

Rank Stock Value
1
ARGX icon
argenx
ARGX
+$311M
2
INSM icon
Insmed
INSM
+$51.2M
3
LEGN icon
Legend Biotech
LEGN
+$47.1M
4
KRYS icon
Krystal Biotech
KRYS
+$27.9M
5
PACB icon
Pacific Biosciences
PACB
+$24.8M

Sector Composition

Rank Sector Weight
1 Healthcare 99.7%
2 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SGEN
1
DELISTED
Seagen Inc. Common Stock
SGEN
$6.42B 42.04%
46,912,266
– –
INCY icon
2
Incyte
INCY
$25.9B
$2.41B 15.78%
36,154,574
+457
+0% +$33.8K
ONC
3
BeOne Medicines Ltd
ONC
$42.4B
$1.57B 10.3%
11,668,897
– –
ACAD icon
4
Acadia Pharmaceuticals
ACAD
$5.08B
$686M 4.49%
41,923,486
– –
BMRN icon
5
BioMarin Pharmaceuticals
BMRN
$12.9B
$646M 4.23%
7,620,494
– –
ASND icon
6
Ascendis Pharma A/S
ASND
$16.6B
$501M 3.28%
4,852,655
– –
GBT
7
DELISTED
Global Blood Therapeutics, Inc.
GBT
$254M 1.66%
3,732,502
– –
BCRX icon
8
BioCryst Pharmaceuticals
BCRX
$2.44B
$160M 1.05%
12,710,818
– –
RYTM icon
9
Rhythm Pharmaceuticals
RYTM
$7.57B
$149M 0.97%
6,062,702
+1,937,640
+47% +$36M
KOD icon
10
Kodiak Sciences
KOD
$2.41B
$134M 0.88%
17,310,490
– –
IMCR icon
11
Immunocore
IMCR
$1.9B
$118M 0.77%
2,520,731
+1
+0% +$48
ABCL icon
12
AbCellera Biologics
ABCL
$3.67B
$103M 0.68%
10,450,180
– –
ARGX icon
13
argenx
ARGX
$65B
$98.9M 0.65%
280,159
-839,398
-75% -$311M
MRTX
14
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$98.5M 0.64%
1,409,784
– –
MDGL icon
15
Madrigal Pharmaceuticals
MDGL
$11.9B
$97.4M 0.64%
1,499,213
– –
CCXI
16
DELISTED
ChemoCentryx, Inc.
CCXI
$92.6M 0.61%
1,792,657
– –
TVTX icon
17
Travere Therapeutics
TVTX
$6.19B
$81.3M 0.53%
3,300,009
– –
AKRO
18
DELISTED
Akero Therapeutics
AKRO
$80.6M 0.53%
2,368,378
+2,250,000
+1,901% +$34.4M
TRDA icon
19
Entrada Therapeutics
TRDA
$295M
$76.7M 0.5%
4,865,819
– –
IGMS
20
DELISTED
IGM Biosciences
IGMS
$71.8M 0.47%
3,156,102
– –
REPL icon
21
Replimune Group
REPL
$1.39B
$67.2M 0.44%
3,893,843
+302,762
+8% +$5.77M
PRLD icon
22
Prelude Therapeutics
PRLD
$529M
$66.9M 0.44%
10,123,824
– –
KYMR icon
23
Kymera Therapeutics
KYMR
$9.96B
$62.7M 0.41%
2,879,825
– –
HZNP
24
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$60M 0.39%
969,727
-178,777
-16% -$12.5M
CERS icon
25
Cerus
CERS
$566M
$57.8M 0.38%
16,067,558
– –
1
2 3 4 5

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Julian Baker's Q3 2022 Portfolio in Review

As of Q3 2022, Julian Baker held 128 positions worth $15.3B, down 13% from $17.6B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

Julian Baker's Q3 2022 filing shows 12 new, 7 increased, 17 reduced and 13 closed positions. Its largest new stake was Veru: 160,958 shares worth $18.5M. The largest sale was argenx, an estimated $311M.

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 Q3 2022 buy was Veru: 160,958 shares worth $18.5M.
  • Julian Baker added most to Rhythm Pharmaceuticals in Q3 2022, an estimated $36M increase.
  • Julian Baker's biggest Q3 2022 reduction was argenx, cutting an estimated $311M.
  • Julian Baker fully exited Legend Biotech in Q3 2022, selling an estimated $47.1M.
  • Julian Baker's ten largest holdings make up 85% of its $15.3B portfolio in Q3 2022.
  • Julian Baker opened 12 new positions and closed 13 in Q3 2022.
  • Julian Baker's portfolio value fell 13% quarter-over-quarter to $15.3B.

Based on Baker Bros. Advisors's 13F filing for Q3 2022, filed 14 Nov 2022.