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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
+25.43%
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
$16.7B
AUM Growth
+$1.38B
Cap. Flow
-$374M
Cap. Flow %
-2.25%
Top 10 Hldgs %
86.98%
Holding
128
New
13
Increased
17
Reduced
8
Closed
15

Top Buys

Rank Stock Value
1
SWTX
SpringWorks Therapeutics
SWTX
+$37.7M
2
PRME icon
Prime Medicine
PRME
+$18.6M
3
DNLI icon
Denali Therapeutics
DNLI
+$14.9M
4
REPL icon
Replimune Group
REPL
+$14.2M
5
SPRY icon
ARS Pharmaceuticals
SPRY
+$13M

Top Sells

Rank Stock Value
1
GBT
Global Blood Therapeutics, Inc.
GBT
+$254M
2
CCXI
ChemoCentryx, Inc.
CCXI
+$92.6M
3
TVTX icon
Travere Therapeutics
TVTX
+$44M
4
FMTX
Forma Therapeutics Holdings, Inc. Common Stock
FMTX
+$37.6M
5
RLMD icon
Relmada Therapeutics
RLMD
+$18.3M

Sector Composition

Rank Sector Weight
1 Healthcare 99.83%
2 Financials 0%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SGEN
1
DELISTED
Seagen Inc. Common Stock
SGEN
$6.03B 36.21%
46,912,266
– –
INCY icon
2
Incyte
INCY
$25.9B
$2.9B 17.44%
36,154,971
+397
+0% +$30.4K
ONC
3
BeOne Medicines Ltd
ONC
$42.4B
$2.57B 15.41%
11,668,897
– –
BMRN icon
4
BioMarin Pharmaceuticals
BMRN
$12.9B
$789M 4.74%
7,620,494
– –
ACAD icon
5
Acadia Pharmaceuticals
ACAD
$5.08B
$667M 4.01%
41,923,486
– –
ASND icon
6
Ascendis Pharma A/S
ASND
$16.6B
$605M 3.63%
4,954,855
+102,200
+2% +$11.9M
MDGL icon
7
Madrigal Pharmaceuticals
MDGL
$11.9B
$448M 2.69%
1,545,113
+45,900
+3% +$4.49M
RYTM icon
8
Rhythm Pharmaceuticals
RYTM
$7.57B
$185M 1.11%
6,354,608
+291,906
+5% +$7.5M
BCRX icon
9
BioCryst Pharmaceuticals
BCRX
$2.44B
$146M 0.88%
12,710,818
– –
IMCR icon
10
Immunocore
IMCR
$1.9B
$144M 0.86%
2,520,731
– –
AKRO
11
DELISTED
Akero Therapeutics
AKRO
$130M 0.78%
2,368,378
– –
REPL icon
12
Replimune Group
REPL
$1.39B
$125M 0.75%
4,578,280
+684,437
+18% +$14.2M
KOD icon
13
Kodiak Sciences
KOD
$2.41B
$124M 0.74%
17,310,490
– –
HZNP
14
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
$110M 0.66%
969,727
– –
ARGX icon
15
argenx
ARGX
$65B
$106M 0.64%
280,159
– –
ABCL icon
16
AbCellera Biologics
ABCL
$3.67B
$106M 0.64%
10,450,180
– –
KYMR icon
17
Kymera Therapeutics
KYMR
$9.96B
$71.9M 0.43%
2,879,825
– –
KDNY
18
DELISTED
Chinook Therapeutics, Inc. Common Stock
KDNY
$66.4M 0.4%
2,534,102
– –
TRDA icon
19
Entrada Therapeutics
TRDA
$295M
$65.8M 0.4%
4,865,819
– –
MRTX
20
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$63.9M 0.38%
1,409,784
– –
PRLD icon
21
Prelude Therapeutics
PRLD
$529M
$61.1M 0.37%
10,123,824
– –
CERS icon
22
Cerus
CERS
$566M
$58.6M 0.35%
16,067,558
– –
JBIO
23
Jade Biosciences
JBIO
$1.36B
$57.9M 0.35%
56,482
-77
-0.1% -$55.9K
IGMS
24
DELISTED
IGM Biosciences
IGMS
$53.7M 0.32%
3,156,102
– –
IMTX icon
25
Immatics
IMTX
$1.22B
$45.2M 0.27%
5,187,081
+763,350
+17% +$7.9M
1
2 3 4 5

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Julian Baker's Q4 2022 Portfolio in Review

As of Q4 2022, Julian Baker held 128 positions worth $16.7B, up 9.1% from $15.3B the previous quarter. Its ten largest holdings account for 87% of the portfolio.

Julian Baker's Q4 2022 filing shows 13 new, 17 increased, 8 reduced and 15 closed positions. Its largest new stake was SpringWorks Therapeutics: 1,528,538 shares worth $39.8M. The largest sale was Global Blood Therapeutics, Inc., an estimated $254M.

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 Q4 2022 buy was SpringWorks Therapeutics: 1,528,538 shares worth $39.8M.
  • Julian Baker added most to Denali Therapeutics in Q4 2022, an estimated $14.9M increase.
  • Julian Baker's biggest Q4 2022 reduction was Travere Therapeutics, cutting an estimated $44M.
  • Julian Baker fully exited Global Blood Therapeutics, Inc. in Q4 2022, selling an estimated $254M.
  • Julian Baker's ten largest holdings make up 87% of its $16.7B portfolio in Q4 2022.
  • Julian Baker opened 13 new positions and closed 15 in Q4 2022.
  • Julian Baker's portfolio value rose 9.1% quarter-over-quarter to $16.7B.

Based on Baker Bros. Advisors's 13F filing for Q4 2022, filed 14 Feb 2023.