OrbiMed Portfolio holdings
OrbiMed is an investment manager focused exclusively on healthcare, running public equity, private equity and private credit and royalty funds. The firm traces its origins to 1989, when Viren Mehta and Samuel Isaly, both pharmaceutical analysts at the bank S.G Warburg, set up the research and money-management firm Mehta & Isaly; in 1998 it split in two, with Isaly forming OrbiMed and Mehta forming Mehta Partners. Its public equity side covers long/short funds built around corporate events as well as closed-end investment trusts, and OrbiMed launched its first dedicated venture capital fund in 2000 and its first royalty and credit fund in 2011. Carl Gordon, Carter Neild and Geoffrey Hsu form the committee that leads the firm, which is owned and controlled by eight members.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Merck
MRK
|
+$93.3M |
| 2 |
Bristol-Myers Squibb
BMY
|
+$82.6M |
| 3 |
SHPG
Shire pic
SHPG
|
+$76.4M |
| 4 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$50.3M |
| 5 |
CBST
CUBIST PHARMACEUTICALS INC
CBST
|
+$49.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ONXX
ONYX PHARMACEUTICALS INC
ONXX
|
+$149M |
| 2 |
Incyte
INCY
|
+$33.4M |
| 3 |
MAKO SURGICAL CORP COM
MAKO
|
+$26.7M |
| 4 |
Pfizer
PFE
|
+$25.6M |
| 5 |
AGN
Allergan plc
AGN
|
+$23.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 85.38% |
| 2 | Miscellaneous | 12.69% |
| 3 | Financials | 1.77% |
| 4 | Technology | 0.15% |
| 5 | Utilities | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Gilead Sciences
GILD
$212B
| $300M | 5.36% |
4,777,800
-44,000
| -0.9% | -$2.63M |
2013 Q2
1 quarter
|
|
2
Amgen
AMGN
$252B
| $294M | 5.25% |
2,629,600
+10,200
| +0.4% | +$1.11M |
2013 Q2
1 quarter
|
|
|
3
Merck
MRK
$370B
| $289M | 5.16% |
6,367,648
+2,044,229
| +47% | +$93.3M |
2013 Q2
1 quarter
|
|
4
Biogen
BIIB
$37.3B
| $247M | 4.41% |
1,026,400
+600
| +0.1% | +$134K |
2013 Q2
1 quarter
|
|
|
5
Bristol-Myers Squibb
BMY
$128B
| $241M | 4.3% |
5,204,000
+1,882,000
| +57% | +$82.6M |
2013 Q2
1 quarter
|
|
|
CELG
6
DELISTED
Celgene Corp
CELG
| $201M | 3.59% |
2,614,000
+141,200
| +6% | +$9.9M |
2013 Q2
1 quarter
|
|
7
Viatris
VTRS
$21.9B
| $193M | 3.44% |
5,049,000
+62,000
| +1% | +$2.18M |
2013 Q2
1 quarter
|
|
|
8
Incyte
INCY
$24.3B
| $171M | 3.05% |
4,473,000
-1,133,000
| -20% | -$33.4M |
2013 Q2
1 quarter
|
|
9
Regeneron Pharmaceuticals
REGN
$94.9B
| $161M | 2.86% |
513,100
+162,000
| +46% | +$42.6M |
2013 Q2
1 quarter
|
|
|
ICPT
10
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $149M | 2.65% |
2,151,607
+973
| +0% | +$48K |
2013 Q2
1 quarter
|
|
11
Thermo Fisher Scientific
TMO
$256B
| $142M | 2.54% |
1,546,000
-240,000
| -13% | -$21.7M |
2013 Q2
1 quarter
|
|
|
MDVN
12
DELISTED
MEDIVATION, INC.
MDVN
| $137M | 2.44% |
4,569,000
+1,624,800
| +55% | +$46.4M |
2013 Q2
1 quarter
|
|
13
HCA Healthcare
HCA
$103B
| $131M | 2.33% |
3,053,000
-313,300
| -9% | -$12.2M |
2013 Q2
1 quarter
|
|
14
Illumina
ILMN
$35.7B
| $129M | 2.3% |
1,638,426
-59,624
| -4% | -$4.56M |
2013 Q2
1 quarter
|
|
|
15
Pfizer
PFE
$174B
| $115M | 2.06% |
4,226,962
-941,116
| -18% | -$25.6M |
2013 Q2
1 quarter
|
|
16
Agilent Technologies
A
$49.4B
| $115M | 2.05% |
3,139,908
+548,016
| +21% | +$18.5M |
2013 Q2
1 quarter
|
|
17
BioMarin Pharmaceuticals
BMRN
$11.3B
| $114M | 2.04% |
1,581,700
+240,500
| +18% | +$16M |
2013 Q2
1 quarter
|
|
|
ESRX
18
DELISTED
Express Scripts Holding Company
ESRX
| $110M | 1.97% |
1,783,000
-124,170
| -7% | -$8.03M |
2013 Q2
1 quarter
|
|
19
Insulet
PODD
$10.4B
| $103M | 1.84% |
2,852,500
-196,000
| -6% | -$6.58M |
2013 Q2
1 quarter
|
|
20
Elevance Health
ELV
$90.8B
| $101M | 1.8% |
1,206,000
+19,000
| +2% | +$1.63M |
2013 Q2
1 quarter
|
|
|
AET
21
DELISTED
Aetna Inc
AET
| $99.4M | 1.77% |
1,553,000
+34,000
| +2% | +$2.18M |
2013 Q2
1 quarter
|
|
22
UnitedHealth
UNH
$365B
| $95.2M | 1.7% |
1,329,000
+121,000
| +10% | +$8.66M |
2013 Q2
1 quarter
|
|
|
SHPG
23
DELISTED
Shire pic
SHPG
| $82.8M | 1.48% |
+690,900
| New | +$76.4M |
2013 Q3
0 quarters
|
|
|
INFI
24
DELISTED
Infinity Pharmaceuticals, Inc.
INFI
| $80M | 1.43% |
4,592,600
+71,800
| +2% | +$1.37M |
2013 Q2
1 quarter
|
|
25
AbbVie
ABBV
$520B
| $77.9M | 1.39% |
1,742,000
-35,000
| -2% | -$1.55M |
2013 Q2
1 quarter
|
|
Similar funds
OrbiMed's Q3 2013 Portfolio in Review
As of Q3 2013, OrbiMed held 154 positions worth $5.6B, up 19% from $4.72B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
OrbiMed deployed $257M of net new capital in Q3 2013, opening 29 new positions and adding to 38 existing holdings. Its largest new stake was Shire pic: 690,900 shares worth $82.8M.
By sector, the portfolio is most concentrated in Healthcare at 85% of assets, up from 82% a quarter earlier, followed by Miscellaneous and Financials.
On the sell side, the largest reduction was Incyte, an estimated $33.4M trimmed.
- OrbiMed's largest Q3 2013 buy was Shire pic: 690,900 shares worth $82.8M.
- OrbiMed added most to Merck in Q3 2013, an estimated $93.3M increase.
- OrbiMed's biggest Q3 2013 reduction was Incyte, cutting an estimated $33.4M.
- OrbiMed fully exited ONYX PHARMACEUTICALS INC in Q3 2013, selling an estimated $149M.
- OrbiMed's ten largest holdings make up 40% of its $5.6B portfolio in Q3 2013.
- OrbiMed opened 29 new positions and closed 27 in Q3 2013.
- OrbiMed's portfolio value rose 19% quarter-over-quarter to $5.6B.
Based on OrbiMed's 13F filing for Q3 2013, filed 14 Nov 2013.