Julian i Felix Baker: Stock Portfolio, Performance and Latest Trades
Baker Bros. Advisors
13F portfolio value
$20B
84 holdings at Q2 2026
Julian i Felix Baker's portfolio
As of Q2 2026, filed August 14, 2026 · prices as of October 8, 2026
| Company | Share of portfolio | Average buy price | Return | Current price | Last quarter |
|---|---|---|---|---|---|
Incyte Corp.INCY | 17.5% | $73.08 | +54.3% | $112.75 | Added +0.1% |
| 12.6% | $137.00 | +156% | $350.13 | Added +0.0% | |
| 10.7% | $49.33 | +281% | $188.12 | Added +20% | |
| 5.77% | $180.04 | +165% | $476.91 | Added +0.1% | |
| 5.44% | $18.93 | +3.4% | $19.58 | Added +0.0% | |
| 4.97% | $37.74 | +190% | $109.30 | No change | |
Insmed Inc.INSM | 4.70% | $85.38 | +17.7% | $100.48 | Added +19% |
Celcuity Inc.CELC | 4.15% | $24.11 | +181% | $67.87 | No change |
| 3.89% | $30.45 | +210% | $94.26 | No change | |
| 3.12% | $23.33 | +284% | $89.64 | No change | |
| 2.94% | $201.44 | +30.8% | $263.55 | No change | |
Alkermes PLCALKS | 2.63% | $27.44 | +46.2% | $40.11 | No change |
| 2.39% | $12.65 | +35.8% | $17.17 | Reduced −9.9% | |
Grail Inc.GRAL | 1.38% | $41.27 | +221% | $132.61 | No change |
| 1.30% | $16.49 | −27.1% | $12.02 | Added +9.0% | |
Immunovant Inc.IMVT | 1.05% | $24.19 | +25.1% | $30.26 | Reduced −0.4% |
| 0.94% | $23.61 | +52.7% | $36.06 | Added +27% | |
| 0.91% | $18.86 | +318% | $78.75 | Added +0.3% | |
| 0.84% | $12.94 | +164% | $34.21 | Reduced −3.1% | |
| 0.81% | $24.96 | +143% | $60.74 | No change | |
| 0.81% | $68.42 | −36.7% | $43.30 | No change | |
| 0.75% | $14.30 | +174% | $39.23 | Reduced −44% | |
| 0.61% | $13.03 | +0.1% | $13.04 | No change | |
| 0.57% | $20.95 | +6.0% | $22.21 | No change | |
| 0.55% | $9.30 | +157% | $23.95 | No change | |
| 0.53% | $6.49 | +58.9% | $10.32 | No change | |
Immatics NVIMTX | 0.48% | $8.55 | −13.8% | $7.37 | Reduced −13% |
| 0.48% | $23.78 | −21.5% | $18.67 | Added +0.1% | |
Crinetics Pharmaceuticals In22663K107 | 0.44% | $41.38 | — | — | No change |
| 0.42% | $21.63 | +281% | $82.43 | No change | |
| 0.39% | $24.04 | +6.8% | $25.67 | No change | |
Celcuity Inc.Bond15102KAA8 | 0.35% | — | — | — | New |
| 0.32% | $22.91 | +30.3% | $29.85 | No change | |
Alumis Inc.ALMS | 0.28% | $15.25 | −54.3% | $6.97 | No change |
| 0.27% | $30.15 | −87.1% | $3.88 | No change | |
| 0.27% | $14.22 | +22.5% | $17.41 | Added +144% | |
| 0.26% | $94.07 | −13.5% | $81.35 | No change | |
| 0.23% | $21.61 | −82.4% | $3.81 | No change | |
| 0.23% | $24.79 | +63.9% | $40.63 | No change | |
| 0.22% | $27.16 | +7.9% | $29.30 | Added +78% | |
| 0.22% | $15.33 | +19.6% | $18.34 | Added +21% | |
| 0.19% | $9.92 | +15.8% | $11.49 | Added +3.6% | |
| 0.19% | $23.08 | −76.0% | $5.53 | No change | |
| 0.16% | $23.13 | +10.7% | $25.61 | New | |
| 0.16% | $19.42 | −8.6% | $17.74 | No change | |
Neurogene Inc.NGNE | 0.16% | $17.27 | +53.4% | $26.50 | No change |
| 0.14% | $11.73 | +20.6% | $14.15 | Reduced −25% | |
| 0.14% | $2.72 | +62.7% | $4.43 | No change | |
| 0.13% | $22.80 | +4.5% | $23.83 | Added +103% | |
| 0.13% | $50.18 | +21.1% | $60.77 | No change | |
Absci Corp.ABSI | 0.12% | $3.64 | +145% | $8.94 | No change |
| 0.12% | $12.21 | +14.6% | $13.99 | No change | |
| 0.12% | $3.09 | +209% | $9.55 | No change | |
| 0.11% | $19.37 | +86.6% | $36.16 | No change | |
| 0.10% | $18.49 | +23.1% | $22.75 | No change | |
Cerus Corp.CERS | 0.09% | $4.19 | −45.5% | $2.28 | Reduced −36% |
| 0.09% | $2.68 | −7.7% | $2.47 | No change | |
| 0.09% | $18.94 | −13.6% | $16.37 | No change | |
| 0.09% | $71.80 | −13.6% | $62.01 | New | |
Xencor Inc.XNCR | 0.09% | $16.65 | +47.2% | $24.50 | No change |
| 0.09% | $16.34 | — | — | No change | |
| 0.08% | $14.00 | −10.0% | $12.60 | New | |
| 0.07% | $27.37 | +2.6% | $28.09 | New | |
| 0.07% | $16.75 | −45.4% | $9.15 | No change | |
| 0.06% | $28.86 | −10.9% | $25.72 | New | |
Evommune Inc.EVMN | 0.06% | $22.99 | −72.1% | $6.41 | No change |
Biontech Se-AdrBNTX | 0.06% | $102.60 | −10.3% | $92.06 | No change |
| 0.05% | $24.72 | −8.7% | $22.57 | New | |
| 0.05% | $15.81 | −15.0% | $13.43 | New | |
| 0.05% | $5.58 | −63.8% | $2.02 | No change | |
Verastem Inc.VSTM | 0.05% | $5.15 | +57.5% | $8.11 | Added +327% |
| 0.04% | $9.53 | −6.4% | $8.92 | No change | |
| 0.04% | $13.37 | −43.9% | $7.50 | No change | |
| 0.03% | $15.79 | +119% | $34.61 | No change | |
| 0.03% | $21.39 | +40.6% | $30.08 | No change | |
Wave Life Sciences Ltd.Y95308105 | 0.02% | $7.65 | — | — | No change |
| 0.02% | $9.86 | −73.1% | $2.65 | No change | |
| 0.01% | $6.08 | −96.3% | $0.228 | No change | |
Immunome Inc.IMNM | 0.01% | $21.40 | −9.8% | $19.31 | New |
Skye Bioscience Inc.83086J200 | 0.01% | $4.94 | — | — | No change |
| 0.01% | $4.55 | −38.7% | $2.79 | No change | |
| 0.00% | $12.44 | −57.3% | $5.31 | No change | |
| 0.00% | $12.95 | +54.3% | $19.97 | No change | |
Surrozen Inc.86889P117 | 0.00% | $1.14 | — | — | No change |
Julian i Felix Baker's buys and sells
| Company | Action | Shares change | Value now |
|---|---|---|---|
| Added +20% | +1,888,000 | $2.1B | |
Incyte Corp.INCY | Added +0.1% | +17,918 | $3.5B |
Insmed Inc.INSM | Added +19% | +1,375,000 | $937.8M |
| Reduced −9.9% | −3,604,715 | $477.7M | |
| Added +9.0% | +2,736,200 | $259.1M | |
| Added +0.0% | +16,214 | $1.1B | |
| Added +0.0% | +2,514 | $2.5B | |
Abivax Sa-AdrABVX | Sold out | −875,796 | — |
Celcuity Inc.15102KAA8 | Sold out | −30,750,000 | — |
Immunovant Inc.IMVT | Reduced −0.4% | −22,661 | $209.4M |
Celcuity Inc.Bond15102KAA8 | New | +30,750,000 | $69.2M |
| Reduced −44% | −2,874,221 | $150.4M | |
| Added +27% | +1,063,515 | $186.7M | |
| Sold out | −1,000,000 | — | |
| Added +0.3% | +8,397 | $181.3M | |
| Added +144% | +1,666,666 | $52.9M | |
| New | +1,286,411 | $32.2M | |
| Reduced −3.1% | −150,892 | $166.9M | |
| Added +0.1% | +1,430 | $1.2B | |
Centessa Pharmaceuticals-Adr152309100 | Sold out | −670,751 | — |
| Added +0.1% | +2,641 | $96M | |
| Added +78% | +517,241 | $44M | |
| Sold out | −734,397 | — | |
| Sold out | −1,420,838 | — | |
Argenx SE - ADRARGX | Sold out | −25,174 | — |
| New | +211,267 | $18M | |
| Added +103% | +429,195 | $26M | |
| New | +930,232 | $15.7M | |
| New | +500,000 | $13.7M | |
| Sold out | −2,344,720 | — | |
| New | +350,000 | $11.5M | |
| Added +3.6% | +92,452 | $38.8M | |
Immatics NVIMTX | Reduced −13% | −1,408,128 | $96.3M |
Pharvaris NVPHVS | Sold out | −375,000 | — |
| New | +333,333 | $10.4M | |
| New | +550,000 | $10.2M | |
Verastem Inc.VSTM | Added +327% | +1,914,581 | $9.5M |
| Added +21% | +411,347 | $43.8M | |
| Reduced −25% | −410,711 | $27.3M | |
Immunome Inc.IMNM | New | +55,306 | $1.2M |
Cerus Corp.CERS | Reduced −36% | −3,612,914 | $18.7M |
Julian i Felix Baker's portfolio by sector
Share of the stock portfolio at Q2 2026.
| Sector | Share |
|---|---|
| Health Care | 82% |
| Industrials | 18% |
| Other | 0.5% |
Portfolio performance: Julian i Felix Baker vs. benchmarks
Your result if you had bought each reported portfolio on the day it was made public and held it until the next report, against the S&P 500 and Nasdaq-100.
- You, copying after each 13F filing – estimated value
- S&P 500
- Nasdaq-100
| Total return | Per year | |
|---|---|---|
| You, copying after each 13F filing – estimated value | +35.4% | +6.2% |
| S&P 500 | +89.0% | +13.6% |
| Nasdaq-100 | +113.3% | +16.4% |
Prices were available for 56% of the portfolio value on average; the rest is left out of the return.
Julian i Felix Baker's most traded stocks
Quarters with a buy or a sell, all reports since Q2 2013.
| Company | Quarters bought | Quarters sold |
|---|---|---|
Incyte Corp.INCY | 45 | 2 |
Insmed Inc.INSM | 18 | 11 |
| 20 | 7 | |
| 14 | 12 | |
| 18 | 5 | |
| 19 | 3 | |
| 8 | 12 | |
| 13 | 7 | |
Alkermes PLCALKS | 13 | 6 |
| 9 | 10 | |
| 10 | 9 | |
| 6 | 13 | |
| 10 | 9 | |
| 8 | 10 | |
| 7 | 11 |