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 |
Biogen
BIIB
|
+$98.5M |
| 2 |
SIEN
Sientra, Inc.
SIEN
|
+$54.3M |
| 3 |
Gilead Sciences
GILD
|
+$50.4M |
| 4 |
MGLN
Magellan Health Services, Inc.
MGLN
|
+$47.6M |
| 5 |
Vertex Pharmaceuticals
VRTX
|
+$42.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
CFN
CAREFUSION CORPORATION
CFN
|
+$215M |
| 2 |
Agilent Technologies
A
|
+$79M |
| 3 |
Arrowhead Research
ARWR
|
+$76.5M |
| 4 |
STJ
St Jude Medical
STJ
|
+$54.8M |
| 5 |
QGENF
QIAGEN NV
QGENF
|
+$38.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 88.46% |
| 2 | Miscellaneous | 11.3% |
| 3 | Technology | 0.16% |
| 4 | Financials | 0.08% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Biogen
BIIB
$37.5B
| $507M | 4.85% |
1,494,700
+304,600
| +26% | +$98.5M |
2013 Q2
6 quarters
|
|
2
Bristol-Myers Squibb
BMY
$128B
| $454M | 4.34% |
7,688,700
+396,700
| +5% | +$22.4M |
2013 Q2
6 quarters
|
|
3
Amgen
AMGN
$252B
| $431M | 4.12% |
2,708,000
+105,000
| +4% | +$16.4M |
2013 Q2
6 quarters
|
|
|
CELG
4
DELISTED
Celgene Corp
CELG
| $409M | 3.91% |
3,657,600
+329,600
| +10% | +$34.8M |
2013 Q2
6 quarters
|
|
|
5
Gilead Sciences
GILD
$212B
| $401M | 3.83% |
4,249,500
+487,300
| +13% | +$50.4M |
2013 Q2
6 quarters
|
|
|
AGN
6
DELISTED
Allergan plc
AGN
| $383M | 3.66% |
1,488,200
+52,000
| +4% | +$13M |
2013 Q2
6 quarters
|
|
7
AbbVie
ABBV
$521B
| $349M | 3.33% |
5,331,100
-146,900
| -3% | -$9.26M |
2013 Q2
6 quarters
|
|
8
HCA Healthcare
HCA
$102B
| $316M | 3.02% |
4,308,000
+95,000
| +2% | +$6.68M |
2013 Q2
6 quarters
|
|
|
RLYP
9
DELISTED
RELYPSA INC COM
RLYP
| $273M | 2.61% |
8,857,551
| – | – |
2013 Q4
4 quarters
|
|
10
Illumina
ILMN
$35.6B
| $273M | 2.6% |
1,517,945
+137,341
| +10% | +$24.2M |
2013 Q2
6 quarters
|
|
|
SHPG
11
DELISTED
Shire pic
SHPG
| $249M | 2.38% |
1,170,000
-49,000
| -4% | -$10.4M |
2013 Q3
5 quarters
|
|
12
Intuitive Surgical
ISRG
$153B
| $233M | 2.22% |
3,960,000
+482,400
| +14% | +$26.9M |
2013 Q4
4 quarters
|
|
|
ICPT
13
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $232M | 2.21% |
1,485,000
| – | – |
2013 Q2
6 quarters
|
|
14
Incyte
INCY
$24.4B
| $230M | 2.2% |
3,149,300
-105,600
| -3% | -$6.9M |
2013 Q2
6 quarters
|
|
|
MDVN
15
DELISTED
MEDIVATION, INC.
MDVN
| $226M | 2.16% |
4,537,800
-8,200
| -0.2% | -$426K |
2013 Q2
6 quarters
|
|
|
IPXL
16
DELISTED
Impax Laboratories, Inc.
IPXL
| $212M | 2.02% |
6,678,000
+272,800
| +4% | +$7.98M |
2013 Q2
6 quarters
|
|
17
Perrigo
PRGO
$2.19B
| $209M | 1.99% |
1,247,800
+103,100
| +9% | +$16.1M |
2013 Q4
4 quarters
|
|
|
18
Vertex Pharmaceuticals
VRTX
$142B
| $206M | 1.97% |
1,731,200
+381,200
| +28% | +$42.9M |
2013 Q2
6 quarters
|
|
19
Thermo Fisher Scientific
TMO
$258B
| $200M | 1.91% |
1,595,700
-95,700
| -6% | -$11.6M |
2013 Q2
6 quarters
|
|
|
HNT
20
DELISTED
HEALTH NET INC
HNT
| $199M | 1.9% |
3,711,400
+641,000
| +21% | +$31.6M |
2013 Q2
6 quarters
|
|
21
Cooper Companies
COO
$11.3B
| $198M | 1.89% |
4,882,400
+311,600
| +7% | +$12.5M |
2014 Q3
1 quarter
|
|
|
ESRX
22
DELISTED
Express Scripts Holding Company
ESRX
| $195M | 1.87% |
2,307,000
+209,000
| +10% | +$16.3M |
2013 Q2
6 quarters
|
|
23
Molina Healthcare
MOH
$10.6B
| $192M | 1.83% |
3,581,900
+844,000
| +31% | +$40.9M |
2013 Q2
6 quarters
|
|
24
Ironwood Pharmaceuticals
IRWD
$578M
| $184M | 1.76% |
14,342,447
| – | – |
2014 Q1
3 quarters
|
|
|
25
Agilent Technologies
A
$49.3B
| $166M | 1.58% |
4,051,000
-1,959,002
| -33% | -$79M |
2013 Q2
6 quarters
|
|
Similar funds
OrbiMed's Q4 2014 Portfolio in Review
As of Q4 2014, OrbiMed held 147 positions worth $10.5B, up 9.3% from $9.6B the previous quarter. Its ten largest holdings account for 36% of the portfolio.
OrbiMed's Q4 2014 filing shows 14 new, 53 increased, 21 reduced and 16 closed positions. Its largest new stake was Sientra, Inc.: 318,531 shares worth $53.5M. The largest sale was CAREFUSION CORPORATION, an estimated $215M.
By sector, the portfolio is most concentrated in Healthcare at 88% of assets, up from 86% a quarter earlier, followed by Miscellaneous and Technology.
- OrbiMed's largest Q4 2014 buy was Sientra, Inc.: 318,531 shares worth $53.5M.
- OrbiMed added most to Biogen in Q4 2014, an estimated $98.5M increase.
- OrbiMed's biggest Q4 2014 reduction was Agilent Technologies, cutting an estimated $79M.
- OrbiMed fully exited CAREFUSION CORPORATION in Q4 2014, selling an estimated $215M.
- OrbiMed's ten largest holdings make up 36% of its $10.5B portfolio in Q4 2014.
- OrbiMed opened 14 new positions and closed 16 in Q4 2014.
- OrbiMed's portfolio value rose 9.3% quarter-over-quarter to $10.5B.
Based on OrbiMed's 13F filing for Q4 2014, filed 13 Feb 2015.