IMTX - Tracking Baker Brothers Portfolio - Q1 2024 Update

2024-06-11 00:24:03 ET

Summary

• Baker Brothers' 13F portfolio value decreased from $8.79B to $7.97B.
• The largest five stakes in the portfolio are Incyte, BeiGene, ACADIA Pharma, Madrigal Pharma, and Rhythm Pharma.
• Baker Brothers has had successful investments in companies that were later acquired, such as Pharmacyclics, Synageva, and Alexion.

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 5/15/2024. The 13F portfolio value decreased from $8.79B to $7.97B. Although there are ~120 positions in the 13F portfolio, the holdings are concentrated among a few large stakes. There are 22 positions that are significantly large (more than 0.5% of the portfolio each) and they are the focus of this article. The largest five stakes are Incyte, BeiGene, ACADIA Pharma, Madrigal Pharma, and Rhythm Pharma. They add up to ~66% of the portfolio. Please visit our Tracking Baker Brothers Portfolio series to get an idea of their investment philosophy and our previous update for the fund’s moves during Q4 2023....

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