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 |
Revolution Medicines
RVMD
|
+$60.8M |
| 2 |
SWTX
SpringWorks Therapeutics
SWTX
|
+$35.8M |
| 3 |
Roivant Sciences
ROIV
|
+$33.4M |
| 4 |
KYNB
Kyntra Bio
KYNB
|
+$26.7M |
| 5 |
BPMC
Blueprint Medicines
BPMC
|
+$15M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ascendis Pharma A/S
ASND
|
+$605M |
| 2 |
BioMarin Pharmaceuticals
BMRN
|
+$395M |
| 3 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$110M |
| 4 |
Travere Therapeutics
TVTX
|
+$25.8M |
| 5 |
KDNY
Chinook Therapeutics, Inc. Common Stock
KDNY
|
+$25.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 99.99% |
| 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
| $9.5B | 51.68% |
46,913,769
+1,503
| +0% | +$241K |
|
2
Incyte
INCY
$25.9B
| $2.61B | 14.22% |
36,175,400
+20,429
| +0.1% | +$1.6M |
|
|
ONC
3
BeOne Medicines Ltd
ONC
$42.4B
| $2.51B | 13.68% |
11,668,897
| – | – |
|
4
Acadia Pharmaceuticals
ACAD
$5.08B
| $789M | 4.29% |
41,938,486
+15,000
| +0% | +$286K |
|
5
Madrigal Pharmaceuticals
MDGL
$11.9B
| $374M | 2.04% |
1,545,113
| – | – |
|
|
6
BioMarin Pharmaceuticals
BMRN
$12.9B
| $371M | 2.02% |
3,810,248
-3,810,246
| -50% | -$395M |
|
7
Immunocore
IMCR
$1.9B
| $125M | 0.68% |
2,520,731
| – | – |
|
8
Rhythm Pharmaceuticals
RYTM
$7.57B
| $116M | 0.63% |
6,498,267
+143,659
| +2% | +$3.61M |
|
9
Kodiak Sciences
KOD
$2.41B
| $107M | 0.58% |
17,310,490
| – | – |
|
10
BioCryst Pharmaceuticals
BCRX
$2.44B
| $106M | 0.58% |
12,710,818
| – | – |
|
11
argenx
ARGX
$65B
| $104M | 0.57% |
280,159
| – | – |
|
|
AKRO
12
DELISTED
Akero Therapeutics
AKRO
| $90.6M | 0.49% |
2,368,378
| – | – |
|
13
Kymera Therapeutics
KYMR
$9.96B
| $85.3M | 0.46% |
2,879,825
| – | – |
|
14
Replimune Group
REPL
$1.39B
| $80.9M | 0.44% |
4,578,280
| – | – |
|
15
AbCellera Biologics
ABCL
$3.67B
| $78.8M | 0.43% |
10,450,180
| – | – |
|
|
SWTX
16
DELISTED
SpringWorks Therapeutics
SWTX
| $70.9M | 0.39% |
2,753,502
+1,224,964
| +80% | +$35.8M |
|
17
Entrada Therapeutics
TRDA
$295M
| $70.6M | 0.38% |
4,865,819
| – | – |
|
18
Biomea Fusion
BMEA
$99.3M
| $65.4M | 0.36% |
2,108,949
+4,390
| +0.2% | +$54.6K |
|
|
19
Revolution Medicines
RVMD
$44.9B
| $58.3M | 0.32% |
2,691,493
+2,469,271
| +1,111% | +$60.8M |
|
20
Prelude Therapeutics
PRLD
$529M
| $57.7M | 0.31% |
10,123,824
| – | – |
|
|
MRTX
21
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $52.4M | 0.29% |
1,409,784
| – | – |
|
|
KYNB
22
Kyntra Bio
KYNB
$30.4M
| $49.2M | 0.27% |
105,495
+50,487
| +92% | +$26.7M |
|
23
Cerus
CERS
$566M
| $47.7M | 0.26% |
16,067,558
| – | – |
|
|
IGMS
24
DELISTED
IGM Biosciences
IGMS
| $43.4M | 0.24% |
3,156,656
+554
| +0% | +$11.5K |
|
|
JBIO
25
Jade Biosciences
JBIO
$1.36B
| $39.6M | 0.22% |
56,099
-383
| -0.7% | -$318K |
|
Similar funds
Julian Baker's Q1 2023 Portfolio in Review
As of Q1 2023, Julian Baker held 118 positions worth $18.4B, up 10% from $16.7B the previous quarter. Its ten largest holdings account for 90% of the portfolio.
Julian Baker withdrew a net $958M in Q1 2023, closing 13 positions and reducing 7 holdings. Its most notable exit was Ascendis Pharma A/S, an estimated $605M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 100% a quarter earlier, followed by Financials.
Against the trend, Julian Baker opened a new position in Blueprint Medicines worth $15M.
- Julian Baker's largest Q1 2023 buy was Blueprint Medicines: 333,665 shares worth $15M.
- Julian Baker added most to Revolution Medicines in Q1 2023, an estimated $60.8M increase.
- Julian Baker's biggest Q1 2023 reduction was BioMarin Pharmaceuticals, cutting an estimated $395M.
- Julian Baker fully exited Ascendis Pharma A/S in Q1 2023, selling an estimated $605M.
- Julian Baker's ten largest holdings make up 90% of its $18.4B portfolio in Q1 2023.
- Julian Baker opened 7 new positions and closed 13 in Q1 2023.
- Julian Baker's portfolio value rose 10% quarter-over-quarter to $18.4B.
Based on Baker Bros. Advisors's 13F filing for Q1 2023, filed 15 May 2023.