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 plc
AGN
|
+$202M |
| 2 |
Cooper Companies
COO
|
+$180M |
| 3 |
Vertex Pharmaceuticals
VRTX
|
+$78.3M |
| 4 |
SHPG
Shire pic
SHPG
|
+$77.9M |
| 5 |
WMGI
Wright Medical Group Inc
WMGI
|
+$75.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ITMN
INTERMUNE INC
ITMN
|
+$240M |
| 2 |
Viatris
VTRS
|
+$184M |
| 3 |
AGN
Allergan Inc
AGN
|
+$107M |
| 4 |
BioMarin Pharmaceuticals
BMRN
|
+$89.3M |
| 5 |
ICPT
Intercept Pharmaceuticals, Inc.
ICPT
|
+$43.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 85.85% |
| 2 | Miscellaneous | 13.74% |
| 3 | Technology | 0.34% |
| 4 | Financials | 0.07% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Gilead Sciences
GILD
$212B
| $400M | 4.18% |
3,762,200
+327,400
| +10% | +$32.1M |
2013 Q2
5 quarters
|
|
2
Biogen
BIIB
$37.5B
| $394M | 4.11% |
1,190,100
+105,900
| +10% | +$34.9M |
2013 Q2
5 quarters
|
|
3
Bristol-Myers Squibb
BMY
$128B
| $373M | 3.9% |
7,292,000
+103,000
| +1% | +$5.14M |
2013 Q2
5 quarters
|
|
4
Amgen
AMGN
$252B
| $366M | 3.82% |
2,603,000
+358,000
| +16% | +$46.7M |
2013 Q2
5 quarters
|
|
|
ICPT
5
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $351M | 3.67% |
1,485,000
-171,258
| -10% | -$43.7M |
2013 Q2
5 quarters
|
|
|
AGN
6
DELISTED
Allergan plc
AGN
| $347M | 3.62% |
1,436,200
+904,200
| +170% | +$202M |
2013 Q2
5 quarters
|
|
7
AbbVie
ABBV
$521B
| $316M | 3.3% |
5,478,000
+273,800
| +5% | +$15.2M |
2013 Q2
5 quarters
|
|
|
SHPG
8
DELISTED
Shire pic
SHPG
| $316M | 3.3% |
1,219,000
+313,800
| +35% | +$77.9M |
2013 Q3
4 quarters
|
|
|
CELG
9
DELISTED
Celgene Corp
CELG
| $315M | 3.29% |
3,328,000
+673,000
| +25% | +$60.7M |
2013 Q2
5 quarters
|
|
10
HCA Healthcare
HCA
$102B
| $297M | 3.1% |
4,213,000
-300,000
| -7% | -$19.8M |
2013 Q2
5 quarters
|
|
|
SHPG
11
CALL
DELISTED
Shire pic
SHPG
| $246M | 2.57% |
+950,000
| New | +$236M |
2014 Q3
0 quarters
|
|
|
MDVN
12
DELISTED
MEDIVATION, INC.
MDVN
| $225M | 2.35% |
4,546,000
-347,200
| -7% | -$14.8M |
2013 Q2
5 quarters
|
|
13
Illumina
ILMN
$35.6B
| $220M | 2.3% |
1,380,604
-44,204
| -3% | -$7.39M |
2013 Q2
5 quarters
|
|
|
CFN
14
DELISTED
CAREFUSION CORPORATION
CFN
| $215M | 2.25% |
4,756,000
+1,085,000
| +30% | +$48.9M |
2013 Q2
5 quarters
|
|
15
Thermo Fisher Scientific
TMO
$258B
| $206M | 2.15% |
1,691,400
+155,700
| +10% | +$18.9M |
2013 Q2
5 quarters
|
|
|
RLYP
16
DELISTED
RELYPSA INC COM
RLYP
| $187M | 1.95% |
8,857,551
-1,084,000
| -11% | -$26.3M |
2013 Q4
3 quarters
|
|
17
Intuitive Surgical
ISRG
$153B
| $178M | 1.86% |
3,477,600
-42,300
| -1% | -$2.1M |
2013 Q4
3 quarters
|
|
|
18
Cooper Companies
COO
$11.3B
| $178M | 1.86% |
+4,570,800
| New | +$180M |
2014 Q3
0 quarters
|
|
19
Agilent Technologies
A
$49.3B
| $175M | 1.83% |
6,010,002
+1,633,843
| +37% | +$66.7M |
2013 Q2
5 quarters
|
|
20
Perrigo
PRGO
$2.19B
| $172M | 1.8% |
1,144,700
-37,000
| -3% | -$5.52M |
2013 Q4
3 quarters
|
|
|
AGN
21
DELISTED
Allergan Inc
AGN
| $160M | 1.67% |
897,700
-646,000
| -42% | -$107M |
2013 Q2
5 quarters
|
|
22
Incyte
INCY
$24.4B
| $160M | 1.67% |
3,254,900
-245,500
| -7% | -$12.3M |
2013 Q2
5 quarters
|
|
23
Merck
MRK
$369B
| $158M | 1.65% |
2,789,776
+129,952
| +5% | +$7.3M |
2013 Q2
5 quarters
|
|
24
Ironwood Pharmaceuticals
IRWD
$577M
| $156M | 1.63% |
14,342,447
+3,672,982
| +34% | +$42M |
2014 Q1
2 quarters
|
|
|
IPXL
25
DELISTED
Impax Laboratories, Inc.
IPXL
| $152M | 1.59% |
6,405,200
+989,600
| +18% | +$25.4M |
2013 Q2
5 quarters
|
|
Similar funds
OrbiMed's Q3 2014 Portfolio in Review
As of Q3 2014, OrbiMed held 159 positions worth $9.6B, up 13% from $8.49B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
OrbiMed deployed $543M of net new capital in Q3 2014, opening 27 new positions and adding to 34 existing holdings. Its largest new stake was Cooper Companies: 4,570,800 shares worth $178M.
By sector, the portfolio is most concentrated in Healthcare at 86% of assets, up from 85% a quarter earlier, followed by Miscellaneous and Technology.
On the sell side, the largest reduction was Viatris, an estimated $184M trimmed.
- OrbiMed's largest Q3 2014 buy was Cooper Companies: 4,570,800 shares worth $178M.
- OrbiMed added most to Allergan plc in Q3 2014, an estimated $202M increase.
- OrbiMed's biggest Q3 2014 reduction was Viatris, cutting an estimated $184M.
- OrbiMed fully exited INTERMUNE INC in Q3 2014, selling an estimated $240M.
- OrbiMed's ten largest holdings make up 36% of its $9.6B portfolio in Q3 2014.
- OrbiMed opened 27 new positions and closed 32 in Q3 2014.
- OrbiMed's portfolio value rose 13% quarter-over-quarter to $9.6B.
Based on OrbiMed's 13F filing for Q3 2014, filed 14 Nov 2014.