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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
+3.34%
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
+$71.8M
Cap. Flow
-$218M
Cap. Flow %
-1.26%
Top 10 Hldgs %
90.2%
Holding
115
New
7
Increased
18
Reduced
11
Closed
14

Top Buys

Rank Stock Value
1
ROIV icon
Roivant Sciences
ROIV
+$27.7M
2
ABCL icon
AbCellera Biologics
ABCL
+$26.2M
3
RARE icon
Ultragenyx Pharmaceutical
RARE
+$23.1M
4
DNLI icon
Denali Therapeutics
DNLI
+$21.2M
5
GLUE icon
Monte Rosa Therapeutics
GLUE
+$12.2M

Top Sells

Rank Stock Value
1
ARGX icon
argenx
ARGX
+$63.1M
2
KDNY
Chinook Therapeutics, Inc. Common Stock
KDNY
+$55.9M
3
DICE
DICE Therapeutics, Inc. Common Stock
DICE
+$48.1M
4
IMGN
Immunogen Inc
IMGN
+$28.7M
5
ANAB icon
AnaptysBio
ANAB
+$12.8M

Sector Composition

Rank Sector Weight
1 Healthcare 99.2%
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
$9.45B 54.48%
44,554,162
– –
ONC
2
BeOne Medicines Ltd
ONC
$42.4B
$2.1B 12.1%
11,668,897
– –
INCY icon
3
Incyte
INCY
$25.9B
$2.09B 12.05%
36,178,566
+510
+0% +$32.1K
ACAD icon
4
Acadia Pharmaceuticals
ACAD
$5.08B
$893M 5.15%
42,864,612
– –
BMRN icon
5
BioMarin Pharmaceuticals
BMRN
$12.9B
$337M 1.94%
3,810,248
– –
MDGL icon
6
Madrigal Pharmaceuticals
MDGL
$11.9B
$226M 1.3%
1,545,113
– –
RYTM icon
7
Rhythm Pharmaceuticals
RYTM
$7.57B
$154M 0.89%
6,702,349
+204,082
+3% +$4.57M
ROIV icon
8
Roivant Sciences
ROIV
$26.2B
$139M 0.8%
11,877,171
+2,448,579
+26% +$27.7M
IMCR icon
9
Immunocore
IMCR
$1.9B
$131M 0.75%
2,520,731
– –
AKRO
10
DELISTED
Akero Therapeutics
AKRO
$120M 0.69%
2,368,378
– –
ABCL icon
11
AbCellera Biologics
ABCL
$3.67B
$95.5M 0.55%
20,763,323
+4,313,143
+26% +$26.2M
BCRX icon
12
BioCryst Pharmaceuticals
BCRX
$2.44B
$90M 0.52%
12,710,818
– –
REPL icon
13
Replimune Group
REPL
$1.39B
$78.3M 0.45%
4,578,280
– –
TRDA icon
14
Entrada Therapeutics
TRDA
$295M
$76.9M 0.44%
4,865,819
– –
RVMD icon
15
Revolution Medicines
RVMD
$44.9B
$74.5M 0.43%
2,691,493
– –
ARGX icon
16
argenx
ARGX
$65B
$74.3M 0.43%
151,215
-128,944
-46% -$63.1M
SWTX
17
DELISTED
SpringWorks Therapeutics
SWTX
$69.4M 0.4%
2,999,846
– –
KYMR icon
18
Kymera Therapeutics
KYMR
$9.96B
$66M 0.38%
4,750,400
+375,060
+9% +$7.54M
IMTX icon
19
Immatics
IMTX
$1.22B
$65.3M 0.38%
5,640,816
– –
MRTX
20
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$61.4M 0.35%
1,409,784
– –
KNSA icon
21
Kiniksa Pharmaceuticals
KNSA
$6.17B
$48.8M 0.28%
2,809,577
– –
RARE icon
22
Ultragenyx Pharmaceutical
RARE
$2.55B
$48.7M 0.28%
1,366,547
+583,488
+75% +$23.1M
DNLI icon
23
Denali Therapeutics
DNLI
$3.98B
$47.3M 0.27%
2,292,003
+836,681
+57% +$21.2M
PRLD icon
24
Prelude Therapeutics
PRLD
$529M
$31.3M 0.18%
10,123,824
– –
KOD icon
25
Kodiak Sciences
KOD
$2.41B
$31.2M 0.18%
17,310,490
– –
1
2 3 4 5

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Julian Baker's Q3 2023 Portfolio in Review

As of Q3 2023, Julian Baker held 115 positions worth $17.4B, up 0.42% from $17.3B the previous quarter. Its ten largest holdings account for 90% of the portfolio.

Julian Baker's Q3 2023 filing shows 7 new, 18 increased, 11 reduced and 14 closed positions. Its largest new stake was Morphic Holding, Inc. Common Stock: 215,800 shares worth $4.94M. The largest sale was argenx, an estimated $63.1M.

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

  • Julian Baker's largest Q3 2023 buy was Morphic Holding, Inc. Common Stock: 215,800 shares worth $4.94M.
  • Julian Baker added most to Roivant Sciences in Q3 2023, an estimated $27.7M increase.
  • Julian Baker's biggest Q3 2023 reduction was argenx, cutting an estimated $63.1M.
  • Julian Baker fully exited Chinook Therapeutics, Inc. Common Stock in Q3 2023, selling an estimated $55.9M.
  • Julian Baker's ten largest holdings make up 90% of its $17.4B portfolio in Q3 2023.
  • Julian Baker opened 7 new positions and closed 14 in Q3 2023.
  • Julian Baker's portfolio value rose 0.42% quarter-over-quarter to $17.4B.

Based on Baker Bros. Advisors's 13F filing for Q3 2023, filed 14 Nov 2023.