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 |
ALXN
Alexion Pharmaceuticals
ALXN
|
+$255M |
| 2 |
Boston Scientific
BSX
|
+$146M |
| 3 |
AbbVie
ABBV
|
+$121M |
| 4 |
AGN.PRA
Allergan plc
AGN.PRA
|
+$109M |
| 5 |
Puma Biotechnology
PBYI
|
+$103M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Perrigo
PRGO
|
+$207M |
| 2 |
Zimmer Biomet
ZBH
|
+$116M |
| 3 |
MDVN
MEDIVATION, INC.
MDVN
|
+$115M |
| 4 |
ACTAVIS PLC Pfd Conv Ser A (Irl)
ACT.PRA
|
+$105M |
| 5 |
Stryker
SYK
|
+$87.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 89.92% |
| 2 | Miscellaneous | 9.62% |
| 3 | Financials | 0.24% |
| 4 | Technology | 0.22% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Biogen
BIIB
$37.7B
| $517M | 4.32% |
1,278,900
+72,100
| +6% | +$28.9M |
2013 Q2
8 quarters
|
|
2
Bristol-Myers Squibb
BMY
$128B
| $516M | 4.31% |
7,751,100
-1,131,700
| -13% | -$74.6M |
2013 Q2
8 quarters
|
|
|
AGN
3
DELISTED
Allergan plc
AGN
| $459M | 3.83% |
1,511,315
-66,872
| -4% | -$19.9M |
2013 Q2
8 quarters
|
|
4
HCA Healthcare
HCA
$104B
| $455M | 3.8% |
5,017,400
+609,400
| +14% | +$48.8M |
2013 Q2
8 quarters
|
|
|
5
AbbVie
ABBV
$524B
| $448M | 3.74% |
6,665,000
+1,850,100
| +38% | +$121M |
2013 Q2
8 quarters
|
|
|
CELG
6
DELISTED
Celgene Corp
CELG
| $443M | 3.7% |
3,826,000
+654,000
| +21% | +$74.8M |
2013 Q2
8 quarters
|
|
7
Amgen
AMGN
$255B
| $442M | 3.7% |
2,881,000
-168,000
| -6% | -$26.9M |
2013 Q2
8 quarters
|
|
|
8
Boston Scientific
BSX
$62B
| $384M | 3.21% |
21,680,000
+8,169,000
| +60% | +$146M |
2014 Q1
5 quarters
|
|
|
ALXN
9
DELISTED
Alexion Pharmaceuticals
ALXN
| $370M | 3.09% |
2,044,400
+1,478,700
| +261% | +$255M |
2013 Q2
8 quarters
|
|
10
Gilead Sciences
GILD
$214B
| $339M | 2.83% |
2,895,400
-516,000
| -15% | -$56.4M |
2013 Q2
8 quarters
|
|
|
SHPG
11
DELISTED
Shire pic
SHPG
| $315M | 2.64% |
1,306,000
-79,000
| -6% | -$19.6M |
2013 Q3
7 quarters
|
|
|
IPXL
12
DELISTED
Impax Laboratories, Inc.
IPXL
| $309M | 2.59% |
6,739,200
+61,200
| +0.9% | +$2.9M |
2013 Q2
8 quarters
|
|
|
ICPT
13
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $270M | 2.26% |
1,120,000
| – | – |
2013 Q2
8 quarters
|
|
14
Illumina
ILMN
$35.7B
| $251M | 2.1% |
1,183,228
-53,456
| -4% | -$10.4M |
2013 Q2
8 quarters
|
|
15
Molina Healthcare
MOH
$10.4B
| $245M | 2.05% |
3,487,900
+28,800
| +0.8% | +$1.93M |
2013 Q2
8 quarters
|
|
|
RLYP
16
DELISTED
RELYPSA INC COM
RLYP
| $245M | 2.05% |
7,400,000
-1,457,551
| -16% | -$50.1M |
2013 Q4
6 quarters
|
|
17
Neurocrine Biosciences
NBIX
$14.9B
| $243M | 2.03% |
5,094,500
-739,100
| -13% | -$31.3M |
2013 Q2
8 quarters
|
|
18
Incyte
INCY
$24.6B
| $241M | 2.02% |
2,314,500
-308,000
| -12% | -$31.9M |
2013 Q2
8 quarters
|
|
|
HNT
19
DELISTED
HEALTH NET INC
HNT
| $237M | 1.98% |
3,702,200
-159,200
| -4% | -$9.5M |
2013 Q2
8 quarters
|
|
20
Regeneron Pharmaceuticals
REGN
$94B
| $236M | 1.97% |
461,800
+40,000
| +9% | +$19.5M |
2013 Q2
8 quarters
|
|
21
Cooper Companies
COO
$11.3B
| $232M | 1.94% |
5,205,600
+43,600
| +0.8% | +$1.96M |
2014 Q3
3 quarters
|
|
22
Thermo Fisher Scientific
TMO
$258B
| $182M | 1.52% |
1,402,000
-409,700
| -23% | -$53.4M |
2013 Q2
8 quarters
|
|
23
McKesson
MCK
$117B
| $161M | 1.35% |
718,000
+5,000
| +0.7% | +$1.16M |
2013 Q2
8 quarters
|
|
|
MDVN
24
DELISTED
MEDIVATION, INC.
MDVN
| $161M | 1.35% |
2,826,800
-1,871,000
| -40% | -$115M |
2013 Q2
8 quarters
|
|
25
DELISTED
bluebird bio
BLUE
| $161M | 1.35% |
73,981
+31,467
| +74% | +$64.1M |
2015 Q1
1 quarter
|
|
Similar funds
OrbiMed's Q2 2015 Portfolio in Review
As of Q2 2015, OrbiMed held 164 positions worth $12B, up 2.1% from $11.7B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
OrbiMed's Q2 2015 filing shows 29 new, 43 increased, 30 reduced and 27 closed positions. Its largest new stake was Allergan plc: 104,200 shares worth $109M. The largest sale was Perrigo, an estimated $207M.
By sector, the portfolio is most concentrated in Healthcare at 90% of assets, up from 87% a quarter earlier, followed by Miscellaneous and Financials.
- OrbiMed's largest Q2 2015 buy was Allergan plc: 104,200 shares worth $109M.
- OrbiMed added most to Alexion Pharmaceuticals in Q2 2015, an estimated $255M increase.
- OrbiMed's biggest Q2 2015 reduction was Zimmer Biomet, cutting an estimated $116M.
- OrbiMed fully exited Perrigo in Q2 2015, selling an estimated $207M.
- OrbiMed's ten largest holdings make up 37% of its $12B portfolio in Q2 2015.
- OrbiMed opened 29 new positions and closed 27 in Q2 2015.
- OrbiMed's portfolio value rose 2.1% quarter-over-quarter to $12B.
Based on OrbiMed's 13F filing for Q2 2015, filed 14 Aug 2015.