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 |
Insmed
INSM
|
+$62M |
| 2 |
CRISPR Therapeutics
CRSP
|
+$37.7M |
| 3 |
Immunovant
IMVT
|
+$22.4M |
| 4 |
BCAX
Bicara Therapeutics
BCAX
|
+$21.3M |
| 5 |
Summit Therapeutics
SMMT
|
+$16.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CERE
Cerevel Therapeutics Holdings, Inc. Common Stock
CERE
|
+$28M |
| 2 |
LONA
LeonaBio Inc
LONA
|
+$8.36M |
| 3 |
TLIS
Talis Biomedical Corporation Common Stock
TLIS
|
+$4.4M |
| 4 |
ADAP
Adaptimmune Therapeutics
ADAP
|
+$2.28M |
| 5 |
SAGE
Sage Therapeutics
SAGE
|
+$1.86M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 98.95% |
| 2 | Financials | 0.03% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
ONC
1
BeOne Medicines Ltd
ONC
$42.4B
| $2.37B | 24.59% |
10,568,897
| – | – |
|
2
Incyte
INCY
$25.9B
| $2.03B | 21.06% |
30,739,020
+496
| +0% | +$31.6K |
|
3
Acadia Pharmaceuticals
ACAD
$5.08B
| $659M | 6.83% |
42,877,916
| – | – |
|
|
4
Summit Therapeutics
SMMT
$10.5B
| $535M | 5.54% |
24,424,865
+1,202,643
| +5% | +$16.8M |
|
5
Madrigal Pharmaceuticals
MDGL
$11.9B
| $419M | 4.34% |
1,974,590
| – | – |
|
6
Revolution Medicines
RVMD
$44.9B
| $343M | 3.56% |
7,569,090
| – | – |
|
7
Rhythm Pharmaceuticals
RYTM
$7.57B
| $335M | 3.47% |
6,398,366
+1
| +0% | +$48 |
|
|
8
Insmed
INSM
$27.5B
| $322M | 3.34% |
4,415,918
+839,880
| +23% | +$62M |
|
9
Kymera Therapeutics
KYMR
$9.96B
| $284M | 2.94% |
5,995,929
+1
| +0% | +$44 |
|
|
BCYC
10
Bicycle Therapeutics
BCYC
$306M
| $213M | 2.2% |
9,399,960
| – | – |
|
11
Edgewise Therapeutics
EWTX
$4.8B
| $156M | 1.62% |
5,840,059
| – | – |
|
12
Replimune Group
REPL
$1.39B
| $121M | 1.25% |
11,045,336
+1,000,000
| +10% | +$10.2M |
|
13
Alkermes
ALKS
$8.11B
| $117M | 1.21% |
4,181,751
| – | – |
|
14
Denali Therapeutics
DNLI
$3.98B
| $109M | 1.13% |
3,731,695
| – | – |
|
15
Ultragenyx Pharmaceutical
RARE
$2.55B
| $87.6M | 0.91% |
1,576,114
+109,567
| +7% | +$5.58M |
|
16
Nurix Therapeutics
NRIX
$2.77B
| $87.2M | 0.9% |
3,882,125
| – | – |
|
17
Entrada Therapeutics
TRDA
$295M
| $77.8M | 0.81% |
4,865,819
| – | – |
|
18
Immatics
IMTX
$1.22B
| $73.5M | 0.76% |
6,443,398
| – | – |
|
19
AbCellera Biologics
ABCL
$3.67B
| $71.6M | 0.74% |
27,525,640
| – | – |
|
20
Kiniksa Pharmaceuticals
KNSA
$6.17B
| $70.4M | 0.73% |
2,818,323
| – | – |
|
|
IGMS
21
DELISTED
IGM Biosciences
IGMS
| $67.7M | 0.7% |
4,092,310
+1,994
| +0% | +$21.8K |
|
22
argenx
ARGX
$65B
| $60.7M | 0.63% |
111,904
| – | – |
|
23
Stoke Therapeutics
STOK
$2.08B
| $53.7M | 0.56% |
4,368,443
| – | – |
|
24
Immunocore
IMCR
$1.9B
| $47.2M | 0.49% |
1,515,318
| – | – |
|
25
Kodiak Sciences
KOD
$2.41B
| $45.2M | 0.47% |
17,310,490
| – | – |
|
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Julian Baker's Q3 2024 Portfolio in Review
As of Q3 2024, Julian Baker held 99 positions worth $9.65B, up 23% from $7.83B the previous quarter. Its ten largest holdings account for 78% of the portfolio.
Julian Baker's Q3 2024 filing shows 5 new, 16 increased, 3 reduced and 6 closed positions. Its largest new stake was Bicara Therapeutics: 833,333 shares worth $21.2M. The largest sale was Cerevel Therapeutics Holdings, Inc. Common Stock, an estimated $28M.
By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 98% a quarter earlier, followed by Financials.
- Julian Baker's largest Q3 2024 buy was Bicara Therapeutics: 833,333 shares worth $21.2M.
- Julian Baker added most to Insmed in Q3 2024, an estimated $62M increase.
- Julian Baker's biggest Q3 2024 reduction was NewAmsterdam Pharma, cutting an estimated $2.01K.
- Julian Baker fully exited Cerevel Therapeutics Holdings, Inc. Common Stock in Q3 2024, selling an estimated $28M.
- Julian Baker's ten largest holdings make up 78% of its $9.65B portfolio in Q3 2024.
- Julian Baker opened 5 new positions and closed 6 in Q3 2024.
- Julian Baker's portfolio value rose 23% quarter-over-quarter to $9.65B.
Based on Baker Bros. Advisors's 13F filing for Q3 2024, filed 14 Nov 2024.