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 |
CMTA
Clementia Pharmaceuticals Inc.
CMTA
|
+$170M |
| 2 |
AET
Aetna Inc
AET
|
+$79.5M |
| 3 |
Universal Health Services
UHS
|
+$75.3M |
| 4 |
KALA BIO
KALA
|
+$52.2M |
| 5 |
IMMU
Immunomedics Inc
IMMU
|
+$50.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Humana
HUM
|
+$185M |
| 2 |
Edwards Lifesciences
EW
|
+$51.3M |
| 3 |
ICPT
Intercept Pharmaceuticals, Inc.
ICPT
|
+$50.6M |
| 4 |
Insmed
INSM
|
+$48M |
| 5 |
Glaukos
GKOS
|
+$34.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 95.89% |
| 2 | Financials | 2.54% |
| 3 | Miscellaneous | 1.56% |
| 4 | Technology | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
ALXN
1
DELISTED
Alexion Pharmaceuticals
ALXN
| $511M | 4.89% |
3,645,486
-226,300
| -6% | -$30.7M |
2013 Q2
17 quarters
|
|
2
Biogen
BIIB
$37.5B
| $510M | 4.88% |
1,630,000
| – | – |
2013 Q2
17 quarters
|
|
|
CELG
3
DELISTED
Celgene Corp
CELG
| $489M | 4.67% |
3,351,977
-73,800
| -2% | -$10.1M |
2013 Q2
17 quarters
|
|
4
Boston Scientific
BSX
$60.8B
| $391M | 3.73% |
13,397,000
-1,003,000
| -7% | -$27.7M |
2014 Q1
14 quarters
|
|
5
Merck
MRK
$369B
| $351M | 3.36% |
5,750,376
| – | – |
2016 Q1
6 quarters
|
|
6
Vertex Pharmaceuticals
VRTX
$142B
| $315M | 3.01% |
2,074,302
+47,800
| +2% | +$7.19M |
2013 Q2
17 quarters
|
|
7
Puma Biotechnology
PBYI
$539M
| $290M | 2.78% |
2,425,735
| – | – |
2014 Q2
13 quarters
|
|
8
Eli Lilly
LLY
$1.26T
| $263M | 2.51% |
3,075,000
| – | – |
2015 Q3
8 quarters
|
|
9
Regeneron Pharmaceuticals
REGN
$95.5B
| $256M | 2.45% |
572,770
+106,000
| +23% | +$50.4M |
2013 Q2
17 quarters
|
|
10
Cigna
CI
$78.8B
| $237M | 2.26% |
1,266,100
+44,000
| +4% | +$7.83M |
2017 Q2
1 quarter
|
|
11
Amgen
AMGN
$252B
| $234M | 2.23% |
1,253,100
-49,600
| -4% | -$8.79M |
2013 Q2
17 quarters
|
|
12
Agilent Technologies
A
$49.3B
| $234M | 2.23% |
3,638,900
-175,200
| -5% | -$10.9M |
2013 Q2
17 quarters
|
|
|
WMGI
13
DELISTED
Wright Medical Group Inc
WMGI
| $231M | 2.21% |
8,946,234
| – | – |
2014 Q3
12 quarters
|
|
|
AET
14
DELISTED
Aetna Inc
AET
| $222M | 2.12% |
1,396,500
+508,600
| +57% | +$79.5M |
2013 Q2
17 quarters
|
|
|
CLVS
15
DELISTED
Clovis Oncology, Inc.
CLVS
| $197M | 1.88% |
2,388,670
+284,300
| +14% | +$22.5M |
2017 Q2
1 quarter
|
|
16
Elevance Health
ELV
$91.1B
| $176M | 1.68% |
927,618
+7,000
| +0.8% | +$1.33M |
2016 Q4
3 quarters
|
|
|
CMTA
17
DELISTED
Clementia Pharmaceuticals Inc.
CMTA
| $176M | 1.68% |
+10,425,225
| New | +$170M |
2017 Q3
0 quarters
|
|
18
AbbVie
ABBV
$521B
| $175M | 1.67% |
1,965,000
-232,600
| -11% | -$17.7M |
2013 Q2
17 quarters
|
|
19
DELISTED
Array Biopharma Inc
ARRY
| $174M | 1.67% |
14,182,900
| – | – |
2013 Q2
17 quarters
|
|
20
Incyte
INCY
$24.4B
| $172M | 1.65% |
1,476,000
-187,400
| -11% | -$23.7M |
2013 Q2
17 quarters
|
|
|
LOXO
21
DELISTED
Loxo Oncology, Inc
LOXO
| $159M | 1.52% |
1,728,000
| – | – |
2014 Q3
12 quarters
|
|
22
Gilead Sciences
GILD
$212B
| $156M | 1.49% |
1,928,000
-145,400
| -7% | -$11.1M |
2013 Q2
17 quarters
|
|
|
23
Edwards Lifesciences
EW
$53B
| $152M | 1.45% |
4,172,100
-1,345,800
| -24% | -$51.3M |
2016 Q1
6 quarters
|
|
24
Johnson & Johnson
JNJ
$658B
| $146M | 1.4% |
1,124,400
| – | – |
2013 Q2
17 quarters
|
|
|
IMMU
25
DELISTED
Immunomedics Inc
IMMU
| $140M | 1.34% |
9,996,816
+5,067,858
| +103% | +$50.5M |
2015 Q3
8 quarters
|
|
Similar funds
OrbiMed's Q3 2017 Portfolio in Review
As of Q3 2017, OrbiMed held 153 positions worth $10.5B, up 9.7% from $9.5B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
OrbiMed's Q3 2017 filing shows 17 new, 27 increased, 30 reduced and 10 closed positions. Its largest new stake was Clementia Pharmaceuticals Inc.: 10,425,225 shares worth $176M. The largest sale was Humana, an estimated $185M.
By sector, the portfolio is most concentrated in Healthcare at 96% of assets, up from 96% a quarter earlier, followed by Financials and Miscellaneous.
- OrbiMed's largest Q3 2017 buy was Clementia Pharmaceuticals Inc.: 10,425,225 shares worth $176M.
- OrbiMed added most to Aetna Inc in Q3 2017, an estimated $79.5M increase.
- OrbiMed's biggest Q3 2017 reduction was Edwards Lifesciences, cutting an estimated $51.3M.
- OrbiMed fully exited Humana in Q3 2017, selling an estimated $185M.
- OrbiMed's ten largest holdings make up 35% of its $10.5B portfolio in Q3 2017.
- OrbiMed opened 17 new positions and closed 10 in Q3 2017.
- OrbiMed's portfolio value rose 9.7% quarter-over-quarter to $10.5B.
Based on OrbiMed's 13F filing for Q3 2017, filed 14 Nov 2017.