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 |
Viatris
VTRS
|
+$152M |
| 2 |
Gilead Sciences
GILD
|
+$129M |
| 3 |
WCG
Wellcare Health Plans, Inc.
WCG
|
+$102M |
| 4 |
Puma Biotechnology
PBYI
|
+$81.9M |
| 5 |
ESRX
Express Scripts Holding Company
ESRX
|
+$72M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Molina Healthcare
MOH
|
+$168M |
| 2 |
SHPG
Shire pic
SHPG
|
+$85.9M |
| 3 |
McKesson
MCK
|
+$66.2M |
| 4 |
Neurocrine Biosciences
NBIX
|
+$66.1M |
| 5 |
Cooper Companies
COO
|
+$55.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 95.21% |
| 2 | Miscellaneous | 4.52% |
| 3 | Financials | 0.18% |
| 4 | Technology | 0.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Bristol-Myers Squibb
BMY
$128B
| $577M | 5.23% |
8,395,000
-273,100
| -3% | -$18M |
2013 Q2
10 quarters
|
|
2
Amgen
AMGN
$252B
| $474M | 4.29% |
2,921,000
-92,000
| -3% | -$14.5M |
2013 Q2
10 quarters
|
|
3
Boston Scientific
BSX
$60.8B
| $451M | 4.08% |
24,430,900
+423,700
| +2% | +$7.59M |
2014 Q1
7 quarters
|
|
|
AGN
4
DELISTED
Allergan plc
AGN
| $445M | 4.03% |
1,424,715
-18,600
| -1% | -$5.54M |
2013 Q2
10 quarters
|
|
5
Biogen
BIIB
$37.5B
| $442M | 4% |
1,442,500
+135,100
| +10% | +$38.8M |
2013 Q2
10 quarters
|
|
6
AbbVie
ABBV
$521B
| $441M | 4% |
7,448,500
+505,300
| +7% | +$29.1M |
2013 Q2
10 quarters
|
|
|
CELG
7
DELISTED
Celgene Corp
CELG
| $439M | 3.98% |
3,665,450
+72,450
| +2% | +$8.38M |
2013 Q2
10 quarters
|
|
|
ALXN
8
DELISTED
Alexion Pharmaceuticals
ALXN
| $434M | 3.93% |
2,275,100
+48,500
| +2% | +$8.47M |
2013 Q2
10 quarters
|
|
9
HCA Healthcare
HCA
$102B
| $403M | 3.65% |
5,955,600
+117,700
| +2% | +$8.21M |
2013 Q2
10 quarters
|
|
|
10
Gilead Sciences
GILD
$212B
| $346M | 3.14% |
3,421,400
+1,237,000
| +57% | +$129M |
2013 Q2
10 quarters
|
|
11
Incyte
INCY
$24.4B
| $307M | 2.78% |
2,832,978
+92,000
| +3% | +$10.3M |
2013 Q2
10 quarters
|
|
|
IPXL
12
DELISTED
Impax Laboratories, Inc.
IPXL
| $285M | 2.58% |
6,664,100
| – | – |
2013 Q2
10 quarters
|
|
13
Regeneron Pharmaceuticals
REGN
$95.5B
| $262M | 2.37% |
483,000
-4,700
| -1% | -$2.55M |
2013 Q2
10 quarters
|
|
|
RLYP
14
DELISTED
RELYPSA INC COM
RLYP
| $210M | 1.9% |
7,400,000
| – | – |
2013 Q4
8 quarters
|
|
|
HNT
15
DELISTED
HEALTH NET INC
HNT
| $205M | 1.85% |
2,988,800
-409,000
| -12% | -$26.2M |
2013 Q2
10 quarters
|
|
|
WMGI
16
DELISTED
Wright Medical Group Inc
WMGI
| $199M | 1.81% |
8,245,111
+103,111
| +1% | +$2.23M |
2014 Q3
5 quarters
|
|
17
Thermo Fisher Scientific
TMO
$258B
| $196M | 1.77% |
1,380,000
+16,000
| +1% | +$2.13M |
2013 Q2
10 quarters
|
|
|
ESRX
18
DELISTED
Express Scripts Holding Company
ESRX
| $191M | 1.73% |
2,182,000
+840,000
| +63% | +$72M |
2013 Q2
10 quarters
|
|
|
19
Puma Biotechnology
PBYI
$539M
| $176M | 1.59% |
2,238,825
+1,043,325
| +87% | +$81.9M |
2014 Q2
6 quarters
|
|
|
20
Viatris
VTRS
$21.9B
| $171M | 1.55% |
+3,157,000
| New | +$152M |
2015 Q4
0 quarters
|
|
21
Illumina
ILMN
$35.6B
| $168M | 1.52% |
901,556
-281,672
| -24% | -$45.5M |
2013 Q2
10 quarters
|
|
|
ICPT
22
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $167M | 1.51% |
1,120,000
| – | – |
2013 Q2
10 quarters
|
|
23
Teva Pharmaceutical Industries Limited
TEVA
$49.1B
| $161M | 1.45% |
2,446,000
+247,000
| +11% | +$15.3M |
2014 Q3
5 quarters
|
|
|
ISEE
24
DELISTED
IVERIC bio, Inc. Common Stock
ISEE
| $158M | 1.43% |
2,011,500
+88,000
| +5% | +$5.09M |
2014 Q3
5 quarters
|
|
|
25
Neurocrine Biosciences
NBIX
$14.9B
| $142M | 1.29% |
2,514,974
-1,301,076
| -34% | -$66.1M |
2013 Q2
10 quarters
|
|
Similar funds
OrbiMed's Q4 2015 Portfolio in Review
As of Q4 2015, OrbiMed held 138 positions worth $11B, up 11% from $9.9B the previous quarter. Its ten largest holdings account for 40% of the portfolio.
OrbiMed's Q4 2015 filing shows 6 new, 33 increased, 26 reduced and 8 closed positions. Its largest new stake was Viatris: 3,157,000 shares worth $171M. The largest sale was Molina Healthcare, an estimated $168M.
By sector, the portfolio is most concentrated in Healthcare at 95% of assets, down from 95% a quarter earlier, followed by Miscellaneous and Financials.
- OrbiMed's largest Q4 2015 buy was Viatris: 3,157,000 shares worth $171M.
- OrbiMed added most to Gilead Sciences in Q4 2015, an estimated $129M increase.
- OrbiMed's biggest Q4 2015 reduction was Molina Healthcare, cutting an estimated $168M.
- OrbiMed fully exited Chimerix, Inc. in Q4 2015, selling an estimated $39M.
- OrbiMed's ten largest holdings make up 40% of its $11B portfolio in Q4 2015.
- OrbiMed opened 6 new positions and closed 8 in Q4 2015.
- OrbiMed's portfolio value rose 11% quarter-over-quarter to $11B.
Based on OrbiMed's 13F filing for Q4 2015, filed 16 Feb 2016.