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 |
Teva Pharmaceutical Industries Limited
TEVA
|
+$123M |
| 2 |
WMGI
Wright Medical Group Inc
WMGI
|
+$120M |
| 3 |
Eli Lilly
LLY
|
+$107M |
| 4 |
HCA Healthcare
HCA
|
+$72.7M |
| 5 |
Dynavax Technologies
DVAX
|
+$70M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
MDVN
MEDIVATION, INC.
MDVN
|
+$161M |
| 2 |
SHPG
Shire pic
SHPG
|
+$153M |
| 3 |
TRNX
TORNIER N V SHARES (NLD)
TRNX
|
+$120M |
| 4 |
RCPT
RECEPTOS INC COM STK (DE)
RCPT
|
+$119M |
| 5 |
Gilead Sciences
GILD
|
+$79M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 95.37% |
| 2 | Miscellaneous | 4.24% |
| 3 | Financials | 0.24% |
| 4 | Technology | 0.14% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Bristol-Myers Squibb
BMY
$128B
| $513M | 5.18% |
8,668,100
+917,000
| +12% | +$58.2M |
2013 Q2
9 quarters
|
|
|
2
HCA Healthcare
HCA
$102B
| $452M | 4.56% |
5,837,900
+820,500
| +16% | +$72.7M |
2013 Q2
9 quarters
|
|
3
Amgen
AMGN
$252B
| $417M | 4.21% |
3,013,000
+132,000
| +5% | +$20.8M |
2013 Q2
9 quarters
|
|
4
Boston Scientific
BSX
$60.8B
| $394M | 3.98% |
24,007,200
+2,327,200
| +11% | +$39.8M |
2014 Q1
6 quarters
|
|
|
AGN
5
DELISTED
Allergan plc
AGN
| $392M | 3.96% |
1,443,315
-68,000
| -4% | -$20.9M |
2013 Q2
9 quarters
|
|
|
CELG
6
DELISTED
Celgene Corp
CELG
| $389M | 3.92% |
3,593,000
-233,000
| -6% | -$28.9M |
2013 Q2
9 quarters
|
|
7
Biogen
BIIB
$37.5B
| $382M | 3.85% |
1,307,400
+28,500
| +2% | +$9.41M |
2013 Q2
9 quarters
|
|
8
AbbVie
ABBV
$521B
| $378M | 3.81% |
6,943,200
+278,200
| +4% | +$18.1M |
2013 Q2
9 quarters
|
|
|
ALXN
9
DELISTED
Alexion Pharmaceuticals
ALXN
| $348M | 3.52% |
2,226,600
+182,200
| +9% | +$33.2M |
2013 Q2
9 quarters
|
|
10
Incyte
INCY
$24.4B
| $302M | 3.05% |
2,740,978
+426,478
| +18% | +$47.8M |
2013 Q2
9 quarters
|
|
|
IPXL
11
DELISTED
Impax Laboratories, Inc.
IPXL
| $235M | 2.37% |
6,664,100
-75,100
| -1% | -$3.38M |
2013 Q2
9 quarters
|
|
12
Regeneron Pharmaceuticals
REGN
$95.5B
| $227M | 2.29% |
487,700
+25,900
| +6% | +$13.9M |
2013 Q2
9 quarters
|
|
13
Molina Healthcare
MOH
$10.6B
| $223M | 2.25% |
3,236,300
-251,600
| -7% | -$18.7M |
2013 Q2
9 quarters
|
|
|
14
Gilead Sciences
GILD
$212B
| $214M | 2.17% |
2,184,400
-711,000
| -25% | -$79M |
2013 Q2
9 quarters
|
|
|
HNT
15
DELISTED
HEALTH NET INC
HNT
| $205M | 2.07% |
3,397,800
-304,400
| -8% | -$20.2M |
2013 Q2
9 quarters
|
|
16
Illumina
ILMN
$35.6B
| $202M | 2.04% |
1,183,228
| – | – |
2013 Q2
9 quarters
|
|
17
Cooper Companies
COO
$11.3B
| $194M | 1.96% |
5,205,600
| – | – |
2014 Q3
4 quarters
|
|
|
ICPT
18
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $186M | 1.88% |
1,120,000
| – | – |
2013 Q2
9 quarters
|
|
19
Thermo Fisher Scientific
TMO
$258B
| $167M | 1.68% |
1,364,000
-38,000
| -3% | -$4.95M |
2013 Q2
9 quarters
|
|
|
WMGI
20
DELISTED
Wright Medical Group Inc
WMGI
| $166M | 1.68% |
8,142,000
+4,805,000
| +144% | +$120M |
2014 Q3
4 quarters
|
|
21
Neurocrine Biosciences
NBIX
$14.9B
| $152M | 1.53% |
3,816,050
-1,278,450
| -25% | -$61.8M |
2013 Q2
9 quarters
|
|
|
RLYP
22
DELISTED
RELYPSA INC COM
RLYP
| $137M | 1.38% |
7,400,000
| – | – |
2013 Q4
7 quarters
|
|
|
SHPG
23
DELISTED
Shire pic
SHPG
| $136M | 1.38% |
664,400
-641,600
| -49% | -$153M |
2013 Q3
8 quarters
|
|
24
McKesson
MCK
$116B
| $130M | 1.31% |
700,000
-18,000
| -3% | -$3.82M |
2013 Q2
9 quarters
|
|
|
25
Teva Pharmaceutical Industries Limited
TEVA
$49.1B
| $124M | 1.25% |
2,199,000
+1,892,000
| +616% | +$123M |
2014 Q3
4 quarters
|
|
Similar funds
OrbiMed's Q3 2015 Portfolio in Review
As of Q3 2015, OrbiMed held 153 positions worth $9.9B, down 17% from $12B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
OrbiMed's Q3 2015 filing shows 17 new, 26 increased, 29 reduced and 21 closed positions. Its largest new stake was Eli Lilly: 1,272,000 shares worth $106M. The largest sale was MEDIVATION, INC., an estimated $161M.
By sector, the portfolio is most concentrated in Healthcare at 95% of assets, up from 90% a quarter earlier, followed by Miscellaneous and Financials.
- OrbiMed's largest Q3 2015 buy was Eli Lilly: 1,272,000 shares worth $106M.
- OrbiMed added most to Teva Pharmaceutical Industries Limited in Q3 2015, an estimated $123M increase.
- OrbiMed's biggest Q3 2015 reduction was Shire pic, cutting an estimated $153M.
- OrbiMed fully exited MEDIVATION, INC. in Q3 2015, selling an estimated $161M.
- OrbiMed's ten largest holdings make up 40% of its $9.9B portfolio in Q3 2015.
- OrbiMed opened 17 new positions and closed 21 in Q3 2015.
- OrbiMed's portfolio value fell 17% quarter-over-quarter to $9.9B.
Based on OrbiMed's 13F filing for Q3 2015, filed 13 Nov 2015.