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 |
Boston Scientific
BSX
|
+$208M |
| 2 |
ACTAVIS PLC Pfd Conv Ser A (Irl)
ACT.PRA
|
+$109M |
| 3 |
Bristol-Myers Squibb
BMY
|
+$74.8M |
| 4 |
bluebird bio
BLUE
|
+$56.1M |
| 5 |
Cardinal Health
CAH
|
+$54.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vertex Pharmaceuticals
VRTX
|
+$191M |
| 2 |
AGN
Allergan Inc
AGN
|
+$158M |
| 3 |
Merck
MRK
|
+$149M |
| 4 |
Biogen
BIIB
|
+$113M |
| 5 |
NPSP
NPS PHARMACEUTICALS INC
NPSP
|
+$106M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 86.87% |
| 2 | Miscellaneous | 12.78% |
| 3 | Technology | 0.24% |
| 4 | Financials | 0.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Bristol-Myers Squibb
BMY
$128B
| $573M | 4.89% |
8,882,800
+1,194,100
| +16% | +$74.8M |
2013 Q2
7 quarters
|
|
|
2
Biogen
BIIB
$37.4B
| $510M | 4.35% |
1,206,800
-287,900
| -19% | -$113M |
2013 Q2
7 quarters
|
|
3
Amgen
AMGN
$252B
| $487M | 4.16% |
3,049,000
+341,000
| +13% | +$53.7M |
2013 Q2
7 quarters
|
|
|
AGN
4
DELISTED
Allergan plc
AGN
| $470M | 4.01% |
1,578,187
+89,987
| +6% | +$25.7M |
2013 Q2
7 quarters
|
|
|
CELG
5
DELISTED
Celgene Corp
CELG
| $366M | 3.12% |
3,172,000
-485,600
| -13% | -$58M |
2013 Q2
7 quarters
|
|
6
Gilead Sciences
GILD
$212B
| $335M | 2.86% |
3,411,400
-838,100
| -20% | -$85.1M |
2013 Q2
7 quarters
|
|
7
HCA Healthcare
HCA
$103B
| $332M | 2.83% |
4,408,000
+100,000
| +2% | +$7.18M |
2013 Q2
7 quarters
|
|
|
SHPG
8
DELISTED
Shire pic
SHPG
| $331M | 2.83% |
1,385,000
+215,000
| +18% | +$49.4M |
2013 Q3
6 quarters
|
|
|
RLYP
9
DELISTED
RELYPSA INC COM
RLYP
| $319M | 2.73% |
8,857,551
| – | – |
2013 Q4
5 quarters
|
|
|
ICPT
10
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $316M | 2.7% |
1,120,000
-365,000
| -25% | -$79M |
2013 Q2
7 quarters
|
|
|
IPXL
11
DELISTED
Impax Laboratories, Inc.
IPXL
| $313M | 2.67% |
6,678,000
| – | – |
2013 Q2
7 quarters
|
|
|
MDVN
12
DELISTED
MEDIVATION, INC.
MDVN
| $303M | 2.59% |
4,697,800
+160,000
| +4% | +$9.17M |
2013 Q2
7 quarters
|
|
13
AbbVie
ABBV
$520B
| $282M | 2.41% |
4,814,900
-516,200
| -10% | -$31.2M |
2013 Q2
7 quarters
|
|
14
Thermo Fisher Scientific
TMO
$257B
| $243M | 2.08% |
1,811,700
+216,000
| +14% | +$27.8M |
2013 Q2
7 quarters
|
|
15
Cooper Companies
COO
$11.3B
| $242M | 2.06% |
5,162,000
+279,600
| +6% | +$11.8M |
2014 Q3
2 quarters
|
|
16
Incyte
INCY
$24.3B
| $240M | 2.05% |
2,622,500
-526,800
| -17% | -$43.5M |
2013 Q2
7 quarters
|
|
|
17
Boston Scientific
BSX
$60.8B
| $240M | 2.05% |
13,511,000
+13,191,000
| +4,122% | +$208M |
2014 Q1
4 quarters
|
|
|
HNT
18
DELISTED
HEALTH NET INC
HNT
| $234M | 1.99% |
3,861,400
+150,000
| +4% | +$8.45M |
2013 Q2
7 quarters
|
|
19
Molina Healthcare
MOH
$10.6B
| $233M | 1.99% |
3,459,100
-122,800
| -3% | -$7.1M |
2013 Q2
7 quarters
|
|
20
Neurocrine Biosciences
NBIX
$14.9B
| $232M | 1.98% |
5,833,600
-135,000
| -2% | -$4.83M |
2013 Q2
7 quarters
|
|
21
Illumina
ILMN
$35.7B
| $223M | 1.91% |
1,236,684
-281,261
| -19% | -$53M |
2013 Q2
7 quarters
|
|
22
Intuitive Surgical
ISRG
$153B
| $207M | 1.77% |
3,687,300
-272,700
| -7% | -$15.4M |
2013 Q4
5 quarters
|
|
23
Perrigo
PRGO
$2.14B
| $207M | 1.76% |
1,247,800
| – | – |
2013 Q4
5 quarters
|
|
24
Ironwood Pharmaceuticals
IRWD
$575M
| $192M | 1.64% |
14,342,447
| – | – |
2014 Q1
4 quarters
|
|
25
Regeneron Pharmaceuticals
REGN
$94.6B
| $190M | 1.63% |
421,800
+31,600
| +8% | +$13.4M |
2013 Q2
7 quarters
|
|
Similar funds
OrbiMed's Q1 2015 Portfolio in Review
As of Q1 2015, OrbiMed held 156 positions worth $11.7B, up 12% from $10.5B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
OrbiMed's Q1 2015 filing shows 27 new, 33 increased, 24 reduced and 20 closed positions. Its largest new stake was ACTAVIS PLC Pfd Conv Ser A (Irl): 104,200 shares worth $105M. The largest sale was Vertex Pharmaceuticals, an estimated $191M.
By sector, the portfolio is most concentrated in Healthcare at 87% of assets, down from 88% a quarter earlier, followed by Miscellaneous and Technology.
- OrbiMed's largest Q1 2015 buy was ACTAVIS PLC Pfd Conv Ser A (Irl): 104,200 shares worth $105M.
- OrbiMed added most to Boston Scientific in Q1 2015, an estimated $208M increase.
- OrbiMed's biggest Q1 2015 reduction was Vertex Pharmaceuticals, cutting an estimated $191M.
- OrbiMed fully exited Allergan Inc in Q1 2015, selling an estimated $158M.
- OrbiMed's ten largest holdings make up 34% of its $11.7B portfolio in Q1 2015.
- OrbiMed opened 27 new positions and closed 20 in Q1 2015.
- OrbiMed's portfolio value rose 12% quarter-over-quarter to $11.7B.
Based on OrbiMed's 13F filing for Q1 2015, filed 15 May 2015.