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 |
LOXO
Loxo Oncology, Inc
LOXO
|
+$7.7B |
| 2 |
Regeneron Pharmaceuticals
REGN
|
+$114M |
| 3 |
Rhythm Pharmaceuticals
RYTM
|
+$76.7M |
| 4 |
Amicus Therapeutics
FOLD
|
+$76.6M |
| 5 |
scPharmaceuticals
SCPH
|
+$48.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Incyte
INCY
|
+$172M |
| 2 |
AET
Aetna Inc
AET
|
+$163M |
| 3 |
Biogen
BIIB
|
+$128M |
| 4 |
Merck
MRK
|
+$108M |
| 5 |
Gilead Sciences
GILD
|
+$107M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 97.2% |
| 2 | Financials | 1.42% |
| 3 | Miscellaneous | 1.38% |
| 4 | Technology | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Biogen
BIIB
$37.5B
| $392M | 4.96% |
1,230,700
-399,300
| -24% | -$128M |
2013 Q2
18 quarters
|
|
|
ALXN
2
DELISTED
Alexion Pharmaceuticals
ALXN
| $344M | 4.36% |
2,879,575
-765,911
| -21% | -$93.3M |
2013 Q2
18 quarters
|
|
|
3
Regeneron Pharmaceuticals
REGN
$95.5B
| $321M | 4.06% |
854,600
+281,830
| +49% | +$114M |
2013 Q2
18 quarters
|
|
|
CELG
4
DELISTED
Celgene Corp
CELG
| $320M | 4.04% |
3,062,850
-289,127
| -9% | -$32.6M |
2013 Q2
18 quarters
|
|
5
Vertex Pharmaceuticals
VRTX
$142B
| $261M | 3.3% |
1,741,300
-333,002
| -16% | -$49.3M |
2013 Q2
18 quarters
|
|
6
Boston Scientific
BSX
$60.8B
| $257M | 3.26% |
10,386,600
-3,010,400
| -22% | -$83M |
2014 Q1
15 quarters
|
|
7
Amgen
AMGN
$252B
| $226M | 2.85% |
1,297,100
+44,000
| +4% | +$7.79M |
2013 Q2
18 quarters
|
|
8
Puma Biotechnology
PBYI
$538M
| $216M | 2.73% |
2,184,535
-241,200
| -10% | -$27M |
2014 Q2
14 quarters
|
|
|
9
Merck
MRK
$369B
| $204M | 2.58% |
3,799,419
-1,950,957
| -34% | -$108M |
2016 Q1
7 quarters
|
|
|
CMTA
10
DELISTED
Clementia Pharmaceuticals Inc.
CMTA
| $198M | 2.5% |
10,425,225
| – | – |
2017 Q3
1 quarter
|
|
11
Cigna
CI
$78.8B
| $197M | 2.49% |
969,300
-296,800
| -23% | -$59.1M |
2017 Q2
2 quarters
|
|
12
Eli Lilly
LLY
$1.26T
| $193M | 2.44% |
2,288,000
-787,000
| -26% | -$67M |
2015 Q3
9 quarters
|
|
13
Agilent Technologies
A
$49.3B
| $173M | 2.19% |
2,590,700
-1,048,200
| -29% | -$70.7M |
2013 Q2
18 quarters
|
|
|
WMGI
14
DELISTED
Wright Medical Group Inc
WMGI
| $152M | 1.92% |
6,852,068
-2,094,166
| -23% | -$51.6M |
2014 Q3
13 quarters
|
|
15
Elevance Health
ELV
$91.1B
| $148M | 1.87% |
658,718
-268,900
| -29% | -$57.3M |
2016 Q4
4 quarters
|
|
|
IMMU
16
DELISTED
Immunomedics Inc
IMMU
| $137M | 1.73% |
8,461,727
-1,535,089
| -15% | -$18.1M |
2015 Q3
9 quarters
|
|
17
Ascendis Pharma A/S
ASND
$16.5B
| $135M | 1.71% |
3,367,315
| – | – |
2015 Q1
11 quarters
|
|
|
CLVS
18
DELISTED
Clovis Oncology, Inc.
CLVS
| $134M | 1.7% |
1,971,670
-417,000
| -17% | -$29.2M |
2017 Q2
2 quarters
|
|
19
DELISTED
Audentes Therapeutics, Inc
BOLD
| $129M | 1.63% |
4,129,638
| – | – |
2016 Q3
5 quarters
|
|
20
Edwards Lifesciences
EW
$53B
| $127M | 1.6% |
3,372,300
-799,800
| -19% | -$29.4M |
2016 Q1
7 quarters
|
|
21
Alnylam Pharmaceuticals
ALNY
$22.1B
| $120M | 1.51% |
941,600
-143,200
| -13% | -$18M |
2017 Q1
3 quarters
|
|
22
BeOne Medicines Ltd
ONC
$41.9B
| $102M | 1.29% |
1,041,488
-272,300
| -21% | -$24.9M |
2016 Q4
4 quarters
|
|
23
AbbVie
ABBV
$521B
| $102M | 1.29% |
1,050,600
-914,400
| -47% | -$86.2M |
2013 Q2
18 quarters
|
|
24
DELISTED
Array Biopharma Inc
ARRY
| $97.6M | 1.23% |
7,621,400
-6,561,500
| -46% | -$74.6M |
2013 Q2
18 quarters
|
|
25
DELISTED
Select Medical
SEM
| $89.6M | 1.13% |
9,417,715
-935,981
| -9% | -$8.94M |
2016 Q4
4 quarters
|
|
Similar funds
OrbiMed's Q4 2017 Portfolio in Review
As of Q4 2017, OrbiMed held 156 positions worth $7.91B, down 24% from $10.5B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
OrbiMed deployed $5.63B of net new capital in Q4 2017, opening 13 new positions and adding to 15 existing holdings. Its largest new stake was Rhythm Pharmaceuticals: 2,901,295 shares worth $43.5M.
By sector, the portfolio is most concentrated in Healthcare at 97% of assets, up from 96% a quarter earlier, followed by Financials and Miscellaneous.
On the sell side, the largest reduction was Aetna Inc, an estimated $163M trimmed.
- OrbiMed's largest Q4 2017 buy was Rhythm Pharmaceuticals: 2,901,295 shares worth $43.5M.
- OrbiMed added most to Loxo Oncology, Inc in Q4 2017, an estimated $7.7B increase.
- OrbiMed's biggest Q4 2017 reduction was Aetna Inc, cutting an estimated $163M.
- OrbiMed fully exited Incyte in Q4 2017, selling an estimated $172M.
- OrbiMed's ten largest holdings make up 35% of its $7.91B portfolio in Q4 2017.
- OrbiMed opened 13 new positions and closed 23 in Q4 2017.
- OrbiMed's portfolio value fell 24% quarter-over-quarter to $7.91B.
Based on OrbiMed's 13F filing for Q4 2017, filed 14 Feb 2018.