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Tracking Baker Brothers Portfolio - Q2 2023 Update

John Vincent profile picture
John Vincent


  • Baker Brothers' 13F portfolio value decreased from $18.38B to $17.28B.
  • The largest five stakes in the portfolio are Seagen, Incyte, BeiGene, ACADIA Pharmaceuticals, and Madrigal Pharmaceuticals, making up around 83% of the portfolio.
  • Baker Brothers has made stake increases in Incyte Corporation, ACADIA Pharmaceuticals, AbCellera Biologics, Kymera Therapeutics, and Roivant Sciences.

Pharmaceuticals Medical Stock Market Industry Sector Wall Street Buildings 3d Illustration


This article is part of a series that provides an ongoing analysis of the changes made to Baker Brothers' 13F stock portfolio on a quarterly basis. It is based on Baker Brothers' regulatory 13F Form filed on 8/14/2023. The 13F

This article was written by

John Vincent profile picture
Focused on analyzing 13F reports & building tools to help DIY investors generate absolute returns through exploiting inefficiency, volatility, and momentum.

Analyst’s Disclosure: I/we have a beneficial long position in the shares of INCY, BMRN either through stock ownership, options, or other derivatives. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.

Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.

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Comments (5)

SuperPac profile picture
These guys know a thing or two about concentration risk.
Mostly Pharmaceuticals looks risky.

Excellent data and commentary.
pgallop profile picture
@katmandu100 BINGO!

Felix Baker is the cofounder of Baker Brothers Advisors, a New York hedge fund firm that specializes in biotechnology stocks. Baker started his hedge fund firm with his brother, Julian Baker, in 2000. The firm now manages $36 billion.
pgallop profile picture
@John Vincent Interesting, thanks, I find it strange and illuminating that they hang on to positions forever, even when prospects are very dim, and it apparantly sometimes pays off handsomly.

p.s. What's a 13F report?
John Vincent profile picture
@pgallop , Thank you for your question. 13F reports are regulatory filings required of institutional investment managers with AUM over $100M. You can search for reports at www.sec.gov/... .

All the best,
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