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 |
Centene
CNC
|
+$111M |
| 2 |
AGN.PRA
Allergan plc
AGN.PRA
|
+$73.1M |
| 3 |
Merck
MRK
|
+$69.9M |
| 4 |
AET
Aetna Inc
AET
|
+$63.6M |
| 5 |
Viatris
VTRS
|
+$52.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amgen
AMGN
|
+$148M |
| 2 |
Neurocrine Biosciences
NBIX
|
+$72.3M |
| 3 |
AGN
Allergan plc
AGN
|
+$68.1M |
| 4 |
Intuitive Surgical
ISRG
|
+$67.6M |
| 5 |
SHPG
Shire pic
SHPG
|
+$53.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 95.67% |
| 2 | Miscellaneous | 2.15% |
| 3 | Financials | 2.15% |
| 4 | Technology | 0.04% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
ALXN
1
DELISTED
Alexion Pharmaceuticals
ALXN
| $450M | 5.1% |
3,710,986
+322,600
| +10% | +$41.6M |
2013 Q2
15 quarters
|
|
2
Biogen
BIIB
$37.5B
| $393M | 4.45% |
1,436,900
+155,700
| +12% | +$44M |
2013 Q2
15 quarters
|
|
|
CELG
3
DELISTED
Celgene Corp
CELG
| $390M | 4.42% |
3,132,177
+25,400
| +0.8% | +$3.04M |
2013 Q2
15 quarters
|
|
4
Boston Scientific
BSX
$60.8B
| $381M | 4.32% |
15,311,400
-1,195,500
| -7% | -$29.1M |
2014 Q1
12 quarters
|
|
|
5
Merck
MRK
$369B
| $363M | 4.12% |
5,989,215
+1,152,485
| +24% | +$69.9M |
2016 Q1
4 quarters
|
|
6
Eli Lilly
LLY
$1.26T
| $280M | 3.18% |
3,330,200
+591,200
| +22% | +$47.4M |
2015 Q3
6 quarters
|
|
|
WMGI
7
DELISTED
Wright Medical Group Inc
WMGI
| $278M | 3.16% |
8,946,234
+1,361,900
| +18% | +$36.9M |
2014 Q3
10 quarters
|
|
8
Incyte
INCY
$24.4B
| $264M | 2.99% |
1,973,597
-109,203
| -5% | -$13.9M |
2013 Q2
15 quarters
|
|
9
Vertex Pharmaceuticals
VRTX
$142B
| $237M | 2.69% |
2,169,200
+9,800
| +0.5% | +$863K |
2013 Q2
15 quarters
|
|
|
10
Amgen
AMGN
$252B
| $236M | 2.67% |
1,438,300
-893,500
| -38% | -$148M |
2013 Q2
15 quarters
|
|
11
Agilent Technologies
A
$49.3B
| $192M | 2.18% |
3,629,900
| – | – |
2013 Q2
15 quarters
|
|
12
Pfizer
PFE
$174B
| $185M | 2.1% |
5,698,029
+251,062
| +5% | +$7.92M |
2013 Q2
15 quarters
|
|
13
Edwards Lifesciences
EW
$53B
| $173M | 1.96% |
5,517,900
+1,463,700
| +36% | +$45.8M |
2016 Q1
4 quarters
|
|
|
AET
14
DELISTED
Aetna Inc
AET
| $167M | 1.9% |
1,312,400
+506,500
| +63% | +$63.6M |
2013 Q2
15 quarters
|
|
|
SHPG
15
DELISTED
Shire pic
SHPG
| $156M | 1.77% |
897,451
-305,900
| -25% | -$53.4M |
2013 Q3
14 quarters
|
|
16
HCA Healthcare
HCA
$102B
| $155M | 1.76% |
1,745,000
-257,200
| -13% | -$21.4M |
2013 Q2
15 quarters
|
|
17
Humana
HUM
$49.8B
| $153M | 1.73% |
742,300
-94,100
| -11% | -$19.5M |
2016 Q1
4 quarters
|
|
18
Regeneron Pharmaceuticals
REGN
$95.5B
| $147M | 1.66% |
378,170
+22,870
| +6% | +$8.48M |
2013 Q2
15 quarters
|
|
19
Elevance Health
ELV
$91.1B
| $143M | 1.62% |
862,600
-159,000
| -16% | -$25.3M |
2016 Q4
1 quarter
|
|
20
AbbVie
ABBV
$521B
| $136M | 1.54% |
2,080,000
-845,000
| -29% | -$53.1M |
2013 Q2
15 quarters
|
|
21
DELISTED
Array Biopharma Inc
ARRY
| $127M | 1.44% |
14,182,900
-1,905,900
| -12% | -$20.3M |
2013 Q2
15 quarters
|
|
22
Ironwood Pharmaceuticals
IRWD
$577M
| $124M | 1.4% |
8,646,112
| – | – |
2014 Q1
12 quarters
|
|
|
23
Centene
CNC
$33.9B
| $118M | 1.34% |
+3,311,400
| New | +$111M |
2017 Q1
0 quarters
|
|
|
ICPT
24
DELISTED
Intercept Pharmaceuticals, Inc.
ICPT
| $117M | 1.33% |
1,037,000
-83,000
| -7% | -$9.7M |
2013 Q2
15 quarters
|
|
|
AGN
25
DELISTED
Allergan plc
AGN
| $114M | 1.29% |
477,390
-292,300
| -38% | -$68.1M |
2013 Q2
15 quarters
|
|
Similar funds
OrbiMed's Q1 2017 Portfolio in Review
As of Q1 2017, OrbiMed held 149 positions worth $8.82B, up 12% from $7.85B the previous quarter. Its ten largest holdings account for 37% of the portfolio.
OrbiMed's Q1 2017 filing shows 20 new, 26 increased, 29 reduced and 13 closed positions. Its largest new stake was Centene: 3,311,400 shares worth $118M. The largest sale was Amgen, an estimated $148M.
By sector, the portfolio is most concentrated in Healthcare at 96% of assets, down from 96% a quarter earlier, followed by Miscellaneous and Financials.
- OrbiMed's largest Q1 2017 buy was Centene: 3,311,400 shares worth $118M.
- OrbiMed added most to Merck in Q1 2017, an estimated $69.9M increase.
- OrbiMed's biggest Q1 2017 reduction was Amgen, cutting an estimated $148M.
- OrbiMed fully exited Molina Healthcare in Q1 2017, selling an estimated $26.9M.
- OrbiMed's ten largest holdings make up 37% of its $8.82B portfolio in Q1 2017.
- OrbiMed opened 20 new positions and closed 13 in Q1 2017.
- OrbiMed's portfolio value rose 12% quarter-over-quarter to $8.82B.
Based on OrbiMed's 13F filing for Q1 2017, filed 15 May 2017.