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 |
Vertex Pharmaceuticals
VRTX
|
+$108M |
| 2 |
Corvus Pharmaceuticals
CRVS
|
+$75.4M |
| 3 |
BioMarin Pharmaceuticals
BMRN
|
+$71.1M |
| 4 |
Eli Lilly
LLY
|
+$70.2M |
| 5 |
UnitedHealth
UNH
|
+$67.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HNT
HEALTH NET INC
HNT
|
+$205M |
| 2 |
Viatris
VTRS
|
+$149M |
| 3 |
AFFX
Affymetrix Inc
AFFX
|
+$75.8M |
| 4 |
ALXN
Alexion Pharmaceuticals
ALXN
|
+$59.4M |
| 5 |
Bristol-Myers Squibb
BMY
|
+$48.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 95.09% |
| 2 | Miscellaneous | 4.62% |
| 3 | Financials | 0.22% |
| 4 | Technology | 0.07% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Bristol-Myers Squibb
BMY
$129B
| $487M | 5.13% |
7,624,900
-770,100
| -9% | -$48.6M |
2013 Q2
11 quarters
|
|
2
HCA Healthcare
HCA
$103B
| $448M | 4.71% |
5,737,100
-218,500
| -4% | -$15.3M |
2013 Q2
11 quarters
|
|
3
Amgen
AMGN
$252B
| $431M | 4.54% |
2,876,000
-45,000
| -2% | -$6.69M |
2013 Q2
11 quarters
|
|
4
Boston Scientific
BSX
$60.7B
| $423M | 4.45% |
22,479,700
-1,951,200
| -8% | -$34.3M |
2014 Q1
8 quarters
|
|
5
AbbVie
ABBV
$520B
| $422M | 4.45% |
7,395,700
-52,800
| -0.7% | -$2.94M |
2013 Q2
11 quarters
|
|
|
AGN
6
DELISTED
Allergan plc
AGN
| $422M | 4.44% |
1,572,715
+148,000
| +10% | +$42.4M |
2013 Q2
11 quarters
|
|
7
Biogen
BIIB
$37.3B
| $397M | 4.18% |
1,526,300
+83,800
| +6% | +$22.1M |
2013 Q2
11 quarters
|
|
|
CELG
8
DELISTED
Celgene Corp
CELG
| $378M | 3.97% |
3,774,077
+108,627
| +3% | +$11.2M |
2013 Q2
11 quarters
|
|
9
Gilead Sciences
GILD
$212B
| $277M | 2.92% |
3,019,200
-402,200
| -12% | -$36.3M |
2013 Q2
11 quarters
|
|
|
ALXN
10
DELISTED
Alexion Pharmaceuticals
ALXN
| $260M | 2.74% |
1,870,600
-404,500
| -18% | -$59.4M |
2013 Q2
11 quarters
|
|
|
IPXL
11
DELISTED
Impax Laboratories, Inc.
IPXL
| $217M | 2.28% |
6,776,100
+112,000
| +2% | +$3.94M |
2013 Q2
11 quarters
|
|
12
Thermo Fisher Scientific
TMO
$256B
| $203M | 2.14% |
1,435,000
+55,000
| +4% | +$7.37M |
2013 Q2
11 quarters
|
|
13
Incyte
INCY
$24.3B
| $200M | 2.1% |
2,755,078
-77,900
| -3% | -$5.81M |
2013 Q2
11 quarters
|
|
14
Regeneron Pharmaceuticals
REGN
$94.3B
| $192M | 2.02% |
533,000
+50,000
| +10% | +$20.6M |
2013 Q2
11 quarters
|
|
|
15
Eli Lilly
LLY
$1.26T
| $183M | 1.93% |
2,541,300
+928,300
| +58% | +$70.2M |
2015 Q3
2 quarters
|
|
|
WCG
16
DELISTED
Wellcare Health Plans, Inc.
WCG
| $177M | 1.86% |
1,903,300
+557,100
| +41% | +$46.2M |
2015 Q3
2 quarters
|
|
17
Intuitive Surgical
ISRG
$153B
| $166M | 1.75% |
2,491,200
+340,200
| +16% | +$21.1M |
2013 Q4
9 quarters
|
|
|
ESRX
18
DELISTED
Express Scripts Holding Company
ESRX
| $166M | 1.75% |
2,421,000
+239,000
| +11% | +$17.2M |
2013 Q2
11 quarters
|
|
|
19
Vertex Pharmaceuticals
VRTX
$142B
| $149M | 1.56% |
1,869,400
+1,196,400
| +178% | +$108M |
2013 Q2
11 quarters
|
|
20
Illumina
ILMN
$35.3B
| $146M | 1.54% |
925,200
+23,644
| +3% | +$3.61M |
2013 Q2
11 quarters
|
|
21
Teva Pharmaceutical Industries Limited
TEVA
$48.4B
| $144M | 1.52% |
2,696,000
+250,000
| +10% | +$14.7M |
2014 Q3
6 quarters
|
|
|
ICPT
22
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $144M | 1.51% |
1,120,000
| – | – |
2013 Q2
11 quarters
|
|
23
Agilent Technologies
A
$49.2B
| $139M | 1.47% |
3,495,000
+169,000
| +5% | +$6.44M |
2013 Q2
11 quarters
|
|
|
WMGI
24
DELISTED
Wright Medical Group Inc
WMGI
| $139M | 1.46% |
8,345,110
+99,999
| +1% | +$1.85M |
2014 Q3
6 quarters
|
|
|
MGLN
25
DELISTED
Magellan Health Services, Inc.
MGLN
| $130M | 1.36% |
1,909,000
+76,000
| +4% | +$4.57M |
2014 Q3
6 quarters
|
|
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OrbiMed's Q1 2016 Portfolio in Review
As of Q1 2016, OrbiMed held 149 positions worth $9.5B, down 14% from $11B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
OrbiMed's Q1 2016 filing shows 17 new, 43 increased, 27 reduced and 8 closed positions. Its largest new stake was Corvus Pharmaceuticals: 5,258,450 shares worth $76.2M. The largest sale was HEALTH NET INC, an estimated $205M.
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 Q1 2016 buy was Corvus Pharmaceuticals: 5,258,450 shares worth $76.2M.
- OrbiMed added most to Vertex Pharmaceuticals in Q1 2016, an estimated $108M increase.
- OrbiMed's biggest Q1 2016 reduction was Viatris, cutting an estimated $149M.
- OrbiMed fully exited HEALTH NET INC in Q1 2016, selling an estimated $205M.
- OrbiMed's ten largest holdings make up 42% of its $9.5B portfolio in Q1 2016.
- OrbiMed opened 17 new positions and closed 8 in Q1 2016.
- OrbiMed's portfolio value fell 14% quarter-over-quarter to $9.5B.
Based on OrbiMed's 13F filing for Q1 2016, filed 16 May 2016.