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OrbiMed Portfolio holdings

AUM $5.4B
1-Year Est. Return 163.13%
This Fund
S&P 500
This Quarter Est. Return
+37.76%
1 Year Est. Return
+163.13%
3 Year Est. Return
+393.16%
5 Year Est. Return
+486.34%
10 Year Est. Return
+3,312.73%
AUM
$4.9B
AUM Growth
+$644M
Cap. Flow
-$263M
Cap. Flow %
-5.37%
Top 10 Hldgs %
40.38%
Holding
132
New
23
Increased
22
Reduced
35
Closed
25

Top Buys

Rank Stock Value
1
PFE icon
Pfizer
PFE
+$41.7M
2
BMY icon
Bristol-Myers Squibb
BMY
+$37.3M
3
ELV icon
Elevance Health
ELV
+$33.5M
4
HELP
Cybin Inc
HELP
+$24.7M
5
BRKR icon
Bruker
BRKR
+$23.5M

Top Sells

Rank Stock Value
1
TERN
Terns Pharmaceuticals
TERN
+$125M
2
RNAM
Avidity Biosciences
RNAM
+$65.8M
3
EXAS
Exact Sciences
EXAS
+$51.6M
4
AXSM icon
Axsome Therapeutics
AXSM
+$38.9M
5
SIBN icon
SI-BONE Inc
SIBN
+$38M

Sector Composition

Rank Sector Weight
1 Healthcare 99.3%
2 Miscellaneous 0.7%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JANX icon
51
Janux Therapeutics
JANX
$1.1B
$27M 0.55%
1,954,426
+188,326
+11% +$4.43M
TMO icon
52
Thermo Fisher Scientific
TMO
$230B
$26.9M 0.55%
46,500
– –
BRKR icon
53
Bruker
BRKR
$8.7B
$26.2M 0.53%
+555,789
New +$23.5M
RYTM icon
54
Rhythm Pharmaceuticals
RYTM
$7.38B
$25.7M 0.52%
239,800
+24,648
+11% +$2.61M
STTK icon
55
Shattuck Labs
STTK
$707M
$23M 0.47%
6,306,127
– –
ESPR
56
DELISTED
Esperion Therapeutics
ESPR
$22.1M 0.45%
+5,965,498
New +$19.3M
AVTX icon
57
Avalo Therapeutics
AVTX
$1.05B
$21.6M 0.44%
1,187,300
-162,000
-12% -$2.73M
LXEO icon
58
Lexeo Therapeutics
LXEO
$399M
$21.1M 0.43%
+2,125,000
New +$19.4M
ADCT icon
59
ADC Therapeutics
ADCT
$146M
$20.6M 0.42%
5,822,854
-84,497
-1% -$343K
URGN icon
60
UroGen Pharma
URGN
$2.13B
$20.5M 0.42%
875,487
+186,487
+27% +$4.05M
XENE icon
61
Xenon Pharmaceuticals
XENE
$5.81B
$20M 0.41%
447,200
+27,600
+7% +$1.16M
BTSG icon
62
BrightSpring Health Services
BTSG
$11.7B
$18.3M 0.37%
488,500
+224,700
+85% +$7.54M
VERA icon
63
Vera Therapeutics
VERA
$2.46B
$17.9M 0.37%
+353,500
New +$12.6M
QURE icon
64
uniQure
QURE
$3.38B
$17.6M 0.36%
737,400
+278,900
+61% +$10.8M
DFTX
65
Definium Therapeutics
DFTX
$5.51B
$16.4M 0.34%
1,226,700
+858,876
+234% +$10.6M
KROS icon
66
Keros Therapeutics
KROS
$219M
$16.4M 0.33%
804,212
-214,522
-21% -$3.76M
CARL
67
Carlsmed
CARL
$461M
$15.5M 0.32%
1,252,600
– –
CTMX icon
68
CytomX Therapeutics
CTMX
$699M
$15M 0.31%
3,525,650
-4,935,850
-58% -$18.8M
VIR icon
69
Vir Biotechnology
VIR
$1.83B
$14.4M 0.29%
2,380,715
– –
BCRX icon
70
BioCryst Pharmaceuticals
BCRX
$2.51B
$13.6M 0.28%
1,741,800
+840,300
+93% +$6.07M
COGT icon
71
Cogent Biosciences
COGT
$6.02B
$13.2M 0.27%
+371,000
New +$10.4M
CRBP icon
72
Corbus Pharmaceuticals
CRBP
$211M
$13M 0.27%
1,597,287
+425,000
+36% +$5.25M
EW icon
73
CALL
Edwards Lifesciences
EW
$52B
$12.8M 0.26%
+150,000
New +$12.3M
TARS icon
74
Tarsus Pharmaceuticals
TARS
$3.15B
$12.6M 0.26%
154,400
-43,500
-22% -$3.25M
RLMD icon
75
Relmada Therapeutics
RLMD
$462M
$12.6M 0.26%
+2,610,600
New +$8.75M
1 2
3
4 5

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OrbiMed's Q4 2025 Portfolio in Review

As of Q4 2025, OrbiMed held 132 positions worth $4.9B, up 15% from $4.26B the previous quarter. Its ten largest holdings account for 40% of the portfolio.

OrbiMed withdrew a net $263M in Q4 2025, closing 25 positions and reducing 35 holdings. Its most notable exit was SI-BONE Inc, an estimated $38M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 98% a quarter earlier, followed by Miscellaneous.

Against the trend, OrbiMed opened a new position in Pfizer worth $41.2M.

  • OrbiMed's largest Q4 2025 buy was Pfizer: 1,652,900 shares worth $41.2M.
  • OrbiMed added most to RAPT Therapeutics in Q4 2025, an estimated $17.3M increase.
  • OrbiMed's biggest Q4 2025 reduction was Terns Pharmaceuticals, cutting an estimated $125M.
  • OrbiMed fully exited SI-BONE Inc in Q4 2025, selling an estimated $38M.
  • OrbiMed's ten largest holdings make up 40% of its $4.9B portfolio in Q4 2025.
  • OrbiMed opened 23 new positions and closed 25 in Q4 2025.
  • OrbiMed's portfolio value rose 15% quarter-over-quarter to $4.9B.

Based on OrbiMed's 13F filing for Q4 2025, filed 17 Feb 2026.