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 |
Cigna
CI
|
+$196M |
| 2 |
CLVS
Clovis Oncology, Inc.
CLVS
|
+$129M |
| 3 |
Gilead Sciences
GILD
|
+$84.7M |
| 4 |
Viatris
VTRS
|
+$64.4M |
| 5 |
Biogen
BIIB
|
+$51.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Centene
CNC
|
+$118M |
| 2 |
Pfizer
PFE
|
+$98M |
| 3 |
HCA Healthcare
HCA
|
+$97.1M |
| 4 |
Tenet Healthcare
THC
|
+$94.8M |
| 5 |
AGN.PRA
Allergan plc
AGN.PRA
|
+$73.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 95.82% |
| 2 | Miscellaneous | 2.38% |
| 3 | Financials | 1.77% |
| 4 | Technology | 0.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
ALXN
1
DELISTED
Alexion Pharmaceuticals
ALXN
| $471M | 4.94% |
3,871,786
+160,800
| +4% | +$18.7M |
2013 Q2
16 quarters
|
|
|
CELG
2
DELISTED
Celgene Corp
CELG
| $445M | 4.66% |
3,425,777
+293,600
| +9% | +$36M |
2013 Q2
16 quarters
|
|
|
3
Biogen
BIIB
$37.5B
| $442M | 4.64% |
1,630,000
+193,100
| +13% | +$51.1M |
2013 Q2
16 quarters
|
|
4
Boston Scientific
BSX
$60.8B
| $399M | 4.18% |
14,400,000
-911,400
| -6% | -$24.2M |
2014 Q1
13 quarters
|
|
5
Merck
MRK
$369B
| $352M | 3.69% |
5,750,376
-238,839
| -4% | -$14.5M |
2016 Q1
5 quarters
|
|
6
Vertex Pharmaceuticals
VRTX
$142B
| $261M | 2.74% |
2,026,502
-142,698
| -7% | -$17.2M |
2013 Q2
16 quarters
|
|
7
Eli Lilly
LLY
$1.26T
| $253M | 2.65% |
3,075,000
-255,200
| -8% | -$20.8M |
2015 Q3
7 quarters
|
|
|
WMGI
8
DELISTED
Wright Medical Group Inc
WMGI
| $246M | 2.58% |
8,946,234
| – | – |
2014 Q3
11 quarters
|
|
9
Regeneron Pharmaceuticals
REGN
$95.5B
| $229M | 2.4% |
466,770
+88,600
| +23% | +$38.8M |
2013 Q2
16 quarters
|
|
10
Agilent Technologies
A
$49.3B
| $226M | 2.37% |
3,814,100
+184,200
| +5% | +$10.5M |
2013 Q2
16 quarters
|
|
11
Amgen
AMGN
$252B
| $224M | 2.35% |
1,302,700
-135,600
| -9% | -$22.1M |
2013 Q2
16 quarters
|
|
12
Edwards Lifesciences
EW
$53B
| $217M | 2.28% |
5,517,900
| – | – |
2016 Q1
5 quarters
|
|
13
Puma Biotechnology
PBYI
$539M
| $212M | 2.22% |
2,425,735
+179,810
| +8% | +$10.1M |
2014 Q2
12 quarters
|
|
14
Incyte
INCY
$24.4B
| $209M | 2.2% |
1,663,400
-310,197
| -16% | -$39.5M |
2013 Q2
16 quarters
|
|
|
15
Cigna
CI
$78.8B
| $205M | 2.14% |
+1,222,100
| New | +$196M |
2017 Q2
0 quarters
|
|
|
CLVS
16
DELISTED
Clovis Oncology, Inc.
CLVS
| $197M | 2.07% |
+2,104,370
| New | +$129M |
2017 Q2
0 quarters
|
|
17
Humana
HUM
$49.8B
| $185M | 1.94% |
770,900
+28,600
| +4% | +$6.48M |
2016 Q1
5 quarters
|
|
18
Elevance Health
ELV
$91.1B
| $173M | 1.82% |
920,618
+58,018
| +7% | +$10.4M |
2016 Q4
2 quarters
|
|
19
AbbVie
ABBV
$521B
| $159M | 1.67% |
2,197,600
+117,600
| +6% | +$7.91M |
2013 Q2
16 quarters
|
|
20
Johnson & Johnson
JNJ
$658B
| $149M | 1.56% |
1,124,400
+239,800
| +27% | +$30.6M |
2013 Q2
16 quarters
|
|
|
21
Gilead Sciences
GILD
$212B
| $147M | 1.54% |
2,073,400
+1,272,500
| +159% | +$84.7M |
2013 Q2
16 quarters
|
|
|
LOXO
22
DELISTED
Loxo Oncology, Inc
LOXO
| $139M | 1.45% |
1,728,000
| – | – |
2014 Q3
11 quarters
|
|
|
AET
23
DELISTED
Aetna Inc
AET
| $135M | 1.41% |
887,900
-424,500
| -32% | -$60M |
2013 Q2
16 quarters
|
|
24
DELISTED
Array Biopharma Inc
ARRY
| $119M | 1.24% |
14,182,900
| – | – |
2013 Q2
16 quarters
|
|
|
25
Viatris
VTRS
$21.9B
| $116M | 1.21% |
2,979,200
+1,679,200
| +129% | +$64.4M |
2017 Q1
1 quarter
|
|
Similar funds
OrbiMed's Q2 2017 Portfolio in Review
As of Q2 2017, OrbiMed held 152 positions worth $9.5B, up 8.1% from $8.82B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
OrbiMed's Q2 2017 filing shows 15 new, 35 increased, 32 reduced and 15 closed positions. Its largest new stake was Cigna: 1,222,100 shares worth $205M. The largest sale was Centene, an estimated $118M.
By sector, the portfolio is most concentrated in Healthcare at 96% of assets, up from 96% a quarter earlier, followed by Miscellaneous and Financials.
- OrbiMed's largest Q2 2017 buy was Cigna: 1,222,100 shares worth $205M.
- OrbiMed added most to Gilead Sciences in Q2 2017, an estimated $84.7M increase.
- OrbiMed's biggest Q2 2017 reduction was Pfizer, cutting an estimated $98M.
- OrbiMed fully exited Centene in Q2 2017, selling an estimated $118M.
- OrbiMed's ten largest holdings make up 35% of its $9.5B portfolio in Q2 2017.
- OrbiMed opened 15 new positions and closed 15 in Q2 2017.
- OrbiMed's portfolio value rose 8.1% quarter-over-quarter to $9.5B.
Based on OrbiMed's 13F filing for Q2 2017, filed 14 Aug 2017.