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 |
AGN
Allergan Inc
AGN
|
+$182M |
| 2 |
Intuitive Surgical
ISRG
|
+$111M |
| 3 |
ESRX
Express Scripts Holding Company
ESRX
|
+$60.7M |
| 4 |
AbbVie
ABBV
|
+$52.2M |
| 5 |
Neurocrine Biosciences
NBIX
|
+$48.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AET
Aetna Inc
AET
|
+$78.6M |
| 2 |
Regeneron Pharmaceuticals
REGN
|
+$61.6M |
| 3 |
CELG
Celgene Corp
CELG
|
+$61.1M |
| 4 |
Incyte
INCY
|
+$58.6M |
| 5 |
UnitedHealth
UNH
|
+$51.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 85.22% |
| 2 | Miscellaneous | 14.63% |
| 3 | Technology | 0.09% |
| 4 | Financials | 0.06% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
ICPT
1
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $572M | 7.04% |
1,734,934
| – | – |
2013 Q2
3 quarters
|
|
2
Gilead Sciences
GILD
$212B
| $377M | 4.63% |
5,314,800
+322,200
| +6% | +$25.3M |
2013 Q2
3 quarters
|
|
3
Biogen
BIIB
$37.5B
| $324M | 3.99% |
1,060,700
-34,400
| -3% | -$10.9M |
2013 Q2
3 quarters
|
|
4
Bristol-Myers Squibb
BMY
$128B
| $310M | 3.81% |
5,966,400
+501,400
| +9% | +$26.7M |
2013 Q2
3 quarters
|
|
|
RLYP
5
DELISTED
RELYPSA INC COM
RLYP
| $296M | 3.64% |
9,941,551
+2
| +0% | +$72 |
2013 Q4
1 quarter
|
|
6
Amgen
AMGN
$252B
| $286M | 3.51% |
2,315,900
-199,400
| -8% | -$24.2M |
2013 Q2
3 quarters
|
|
|
AGN
7
DELISTED
Allergan Inc
AGN
| $282M | 3.46% |
2,270,000
+1,494,800
| +193% | +$182M |
2013 Q2
3 quarters
|
|
|
8
AbbVie
ABBV
$521B
| $246M | 3.03% |
4,793,800
+1,032,900
| +27% | +$52.2M |
2013 Q2
3 quarters
|
|
9
HCA Healthcare
HCA
$102B
| $221M | 2.72% |
4,215,000
+457,000
| +12% | +$22.7M |
2013 Q2
3 quarters
|
|
10
Illumina
ILMN
$35.6B
| $202M | 2.49% |
1,398,594
-242,916
| -15% | -$35.7M |
2013 Q2
3 quarters
|
|
|
ITMN
11
DELISTED
INTERMUNE INC
ITMN
| $199M | 2.45% |
5,952,000
-1,745,000
| -23% | -$38.9M |
2013 Q2
3 quarters
|
|
|
CELG
12
DELISTED
Celgene Corp
CELG
| $191M | 2.35% |
2,742,800
-771,400
| -22% | -$61.1M |
2013 Q2
3 quarters
|
|
13
Viatris
VTRS
$21.9B
| $191M | 2.35% |
3,905,500
-309,000
| -7% | -$15M |
2013 Q2
3 quarters
|
|
|
MDVN
14
DELISTED
MEDIVATION, INC.
MDVN
| $175M | 2.16% |
5,448,200
-798,800
| -13% | -$29.5M |
2013 Q2
3 quarters
|
|
15
Agilent Technologies
A
$49.3B
| $170M | 2.09% |
4,253,555
+34,950
| +0.8% | +$1.44M |
2013 Q2
3 quarters
|
|
16
Thermo Fisher Scientific
TMO
$258B
| $168M | 2.06% |
1,393,200
-141,000
| -9% | -$16.8M |
2013 Q2
3 quarters
|
|
|
17
Incyte
INCY
$24.4B
| $167M | 2.06% |
3,124,000
-945,000
| -23% | -$58.6M |
2013 Q2
3 quarters
|
|
18
Perrigo
PRGO
$2.19B
| $163M | 2.01% |
1,056,800
+283,800
| +37% | +$44.8M |
2013 Q4
1 quarter
|
|
|
19
Regeneron Pharmaceuticals
REGN
$95.5B
| $162M | 1.99% |
539,000
-199,800
| -27% | -$61.6M |
2013 Q2
3 quarters
|
|
|
ESRX
20
DELISTED
Express Scripts Holding Company
ESRX
| $157M | 1.94% |
2,097,000
+810,000
| +63% | +$60.7M |
2013 Q2
3 quarters
|
|
|
21
Intuitive Surgical
ISRG
$153B
| $147M | 1.81% |
3,026,700
+2,356,200
| +351% | +$111M |
2013 Q4
1 quarter
|
|
22
Merck
MRK
$369B
| $145M | 1.78% |
2,669,256
| – | – |
2013 Q2
3 quarters
|
|
|
IPXL
23
DELISTED
Impax Laboratories, Inc.
IPXL
| $141M | 1.74% |
5,345,600
+1,108,000
| +26% | +$27.7M |
2013 Q2
3 quarters
|
|
24
Pfizer
PFE
$174B
| $118M | 1.45% |
3,858,694
+113,832
| +3% | +$3.39M |
2013 Q2
3 quarters
|
|
25
McKesson
MCK
$116B
| $102M | 1.26% |
579,000
+224,000
| +63% | +$39.1M |
2013 Q2
3 quarters
|
|
Similar funds
OrbiMed's Q1 2014 Portfolio in Review
As of Q1 2014, OrbiMed held 153 positions worth $8.13B, up 20% from $6.8B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
OrbiMed's Q1 2014 filing shows 32 new, 35 increased, 44 reduced and 13 closed positions. Its largest new stake was Eli Lilly: 543,000 shares worth $32M. The largest sale was Aetna Inc, an estimated $78.6M.
By sector, the portfolio is most concentrated in Healthcare at 85% of assets, down from 86% a quarter earlier, followed by Miscellaneous and Technology.
- OrbiMed's largest Q1 2014 buy was Eli Lilly: 543,000 shares worth $32M.
- OrbiMed added most to Allergan Inc in Q1 2014, an estimated $182M increase.
- OrbiMed's biggest Q1 2014 reduction was Aetna Inc, cutting an estimated $78.6M.
- OrbiMed fully exited QIAGEN NV in Q1 2014, selling an estimated $45.9M.
- OrbiMed's ten largest holdings make up 38% of its $8.13B portfolio in Q1 2014.
- OrbiMed opened 32 new positions and closed 13 in Q1 2014.
- OrbiMed's portfolio value rose 20% quarter-over-quarter to $8.13B.
Based on OrbiMed's 13F filing for Q1 2014, filed 15 May 2014.