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 |
Ironwood Pharmaceuticals
IRWD
|
+$102M |
| 2 |
CFN
CAREFUSION CORPORATION
CFN
|
+$68.7M |
| 3 |
Bristol-Myers Squibb
BMY
|
+$60.2M |
| 4 |
SHPG
Shire pic
SHPG
|
+$55.3M |
| 5 |
TRNX
TORNIER N V SHARES (NLD)
TRNX
|
+$54M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Gilead Sciences
GILD
|
+$146M |
| 2 |
AGN
Allergan Inc
AGN
|
+$113M |
| 3 |
Prothena Corp
PRTA
|
+$72.4M |
| 4 |
Regeneron Pharmaceuticals
REGN
|
+$63M |
| 5 |
XLRN
Acceleron Pharma
XLRN
|
+$56.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 84.99% |
| 2 | Miscellaneous | 14.87% |
| 3 | Financials | 0.08% |
| 4 | Technology | 0.07% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
ICPT
1
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $391M | 4.61% |
1,656,258
-78,676
| -5% | -$20.7M |
2013 Q2
4 quarters
|
|
|
2
Bristol-Myers Squibb
BMY
$128B
| $349M | 4.11% |
7,189,000
+1,222,600
| +20% | +$60.2M |
2013 Q2
4 quarters
|
|
3
Biogen
BIIB
$37.5B
| $342M | 4.03% |
1,084,200
+23,500
| +2% | +$7.07M |
2013 Q2
4 quarters
|
|
4
AbbVie
ABBV
$521B
| $294M | 3.46% |
5,204,200
+410,400
| +9% | +$21.5M |
2013 Q2
4 quarters
|
|
|
5
Gilead Sciences
GILD
$212B
| $285M | 3.36% |
3,434,800
-1,880,000
| -35% | -$146M |
2013 Q2
4 quarters
|
|
6
Amgen
AMGN
$252B
| $266M | 3.13% |
2,245,000
-70,900
| -3% | -$8.21M |
2013 Q2
4 quarters
|
|
|
AGN
7
DELISTED
Allergan Inc
AGN
| $261M | 3.08% |
1,543,700
-726,300
| -32% | -$113M |
2013 Q2
4 quarters
|
|
8
HCA Healthcare
HCA
$102B
| $254M | 3% |
4,513,000
+298,000
| +7% | +$15.7M |
2013 Q2
4 quarters
|
|
9
Illumina
ILMN
$35.6B
| $247M | 2.92% |
1,424,808
+26,214
| +2% | +$3.91M |
2013 Q2
4 quarters
|
|
|
RLYP
10
DELISTED
RELYPSA INC COM
RLYP
| $242M | 2.85% |
9,941,551
| – | – |
2013 Q4
2 quarters
|
|
|
ITMN
11
DELISTED
INTERMUNE INC
ITMN
| $240M | 2.82% |
5,425,200
-526,800
| -9% | -$19.4M |
2013 Q2
4 quarters
|
|
|
CELG
12
DELISTED
Celgene Corp
CELG
| $228M | 2.69% |
2,655,000
-87,800
| -3% | -$6.68M |
2013 Q2
4 quarters
|
|
|
SHPG
13
DELISTED
Shire pic
SHPG
| $213M | 2.51% |
905,200
+318,200
| +54% | +$55.3M |
2013 Q3
3 quarters
|
|
14
Viatris
VTRS
$21.9B
| $204M | 2.4% |
3,952,700
+47,200
| +1% | +$2.32M |
2013 Q2
4 quarters
|
|
15
Incyte
INCY
$24.4B
| $198M | 2.33% |
3,500,400
+376,400
| +12% | +$19.2M |
2013 Q2
4 quarters
|
|
|
MDVN
16
DELISTED
MEDIVATION, INC.
MDVN
| $189M | 2.22% |
4,893,200
-555,000
| -10% | -$18.7M |
2013 Q2
4 quarters
|
|
17
Thermo Fisher Scientific
TMO
$258B
| $181M | 2.14% |
1,535,700
+142,500
| +10% | +$16.8M |
2013 Q2
4 quarters
|
|
18
Agilent Technologies
A
$49.3B
| $180M | 2.12% |
4,376,159
+122,604
| +3% | +$4.92M |
2013 Q2
4 quarters
|
|
19
Perrigo
PRGO
$2.19B
| $172M | 2.03% |
1,181,700
+124,900
| +12% | +$17.7M |
2013 Q4
2 quarters
|
|
|
CFN
20
DELISTED
CAREFUSION CORPORATION
CFN
| $163M | 1.92% |
3,671,000
+1,659,000
| +82% | +$68.7M |
2013 Q2
4 quarters
|
|
|
IPXL
21
DELISTED
Impax Laboratories, Inc.
IPXL
| $162M | 1.91% |
5,415,600
+70,000
| +1% | +$1.89M |
2013 Q2
4 quarters
|
|
22
Intuitive Surgical
ISRG
$153B
| $161M | 1.9% |
3,519,900
+493,200
| +16% | +$21.8M |
2013 Q4
2 quarters
|
|
23
Merck
MRK
$369B
| $147M | 1.73% |
2,659,824
-9,432
| -0.4% | -$515K |
2013 Q2
4 quarters
|
|
|
ESRX
24
DELISTED
Express Scripts Holding Company
ESRX
| $144M | 1.7% |
2,079,000
-18,000
| -0.9% | -$1.27M |
2013 Q2
4 quarters
|
|
|
25
Ironwood Pharmaceuticals
IRWD
$578M
| $137M | 1.61% |
10,669,465
+9,377,438
| +726% | +$102M |
2014 Q1
1 quarter
|
|
Similar funds
OrbiMed's Q2 2014 Portfolio in Review
As of Q2 2014, OrbiMed held 155 positions worth $8.49B, up 4.4% from $8.13B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
OrbiMed's Q2 2014 filing shows 17 new, 44 increased, 30 reduced and 23 closed positions. Its largest new stake was Alkermes: 433,300 shares worth $21.8M. The largest sale was Gilead Sciences, an estimated $146M.
By sector, the portfolio is most concentrated in Healthcare at 85% of assets, down from 85% a quarter earlier, followed by Miscellaneous and Financials.
- OrbiMed's largest Q2 2014 buy was Alkermes: 433,300 shares worth $21.8M.
- OrbiMed added most to Ironwood Pharmaceuticals in Q2 2014, an estimated $102M increase.
- OrbiMed's biggest Q2 2014 reduction was Gilead Sciences, cutting an estimated $146M.
- OrbiMed fully exited Prothena Corp in Q2 2014, selling an estimated $72.4M.
- OrbiMed's ten largest holdings make up 35% of its $8.49B portfolio in Q2 2014.
- OrbiMed opened 17 new positions and closed 23 in Q2 2014.
- OrbiMed's portfolio value rose 4.4% quarter-over-quarter to $8.49B.
Based on OrbiMed's 13F filing for Q2 2014, filed 14 Aug 2014.