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 |
Bristol-Myers Squibb
BMY
|
+$192M |
| 2 |
ARMO
ARMO BioSciences, Inc. Common Stock
ARMO
|
+$173M |
| 3 |
Merck
MRK
|
+$94.1M |
| 4 |
Tenet Healthcare
THC
|
+$83.4M |
| 5 |
DaVita
DVA
|
+$79.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
LOXO
Loxo Oncology, Inc
LOXO
|
+$9.9B |
| 2 |
Eli Lilly
LLY
|
+$193M |
| 3 |
Amgen
AMGN
|
+$156M |
| 4 |
Cigna
CI
|
+$151M |
| 5 |
Elevance Health
ELV
|
+$148M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 98% |
| 2 | Miscellaneous | 1.49% |
| 3 | Financials | 0.51% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
ALXN
1
DELISTED
Alexion Pharmaceuticals
ALXN
| $364M | 4.52% |
3,268,275
+388,700
| +13% | +$46.5M |
2013 Q2
19 quarters
|
|
2
Regeneron Pharmaceuticals
REGN
$94.6B
| $332M | 4.11% |
962,900
+108,300
| +13% | +$37.7M |
2013 Q2
19 quarters
|
|
3
Vertex Pharmaceuticals
VRTX
$142B
| $302M | 3.75% |
1,854,600
+113,300
| +7% | +$18.5M |
2013 Q2
19 quarters
|
|
|
4
Merck
MRK
$369B
| $288M | 3.57% |
5,542,034
+1,742,615
| +46% | +$94.1M |
2016 Q1
8 quarters
|
|
5
Biogen
BIIB
$37.3B
| $285M | 3.53% |
1,040,400
-190,300
| -15% | -$59.1M |
2013 Q2
19 quarters
|
|
6
Boston Scientific
BSX
$60.8B
| $284M | 3.52% |
10,377,795
-8,805
| -0.1% | -$239K |
2014 Q1
16 quarters
|
|
|
CELG
7
DELISTED
Celgene Corp
CELG
| $235M | 2.91% |
2,634,250
-428,600
| -14% | -$41.1M |
2013 Q2
19 quarters
|
|
|
8
Bristol-Myers Squibb
BMY
$128B
| $232M | 2.88% |
3,675,300
+2,987,300
| +434% | +$192M |
2013 Q2
19 quarters
|
|
9
Ascendis Pharma A/S
ASND
$16.5B
| $220M | 2.73% |
3,367,315
| – | – |
2015 Q1
12 quarters
|
|
10
Agilent Technologies
A
$49.4B
| $190M | 2.35% |
2,836,900
+246,200
| +10% | +$17.3M |
2013 Q2
19 quarters
|
|
11
Puma Biotechnology
PBYI
$540M
| $180M | 2.23% |
2,641,661
+457,126
| +21% | +$34.2M |
2014 Q2
15 quarters
|
|
|
CMTA
12
DELISTED
Clementia Pharmaceuticals Inc.
CMTA
| $158M | 1.96% |
10,425,225
| – | – |
2017 Q3
2 quarters
|
|
13
Jazz Pharmaceuticals
JAZZ
$14B
| $157M | 1.95% |
1,040,100
+432,200
| +71% | +$63.4M |
2013 Q2
19 quarters
|
|
|
ARMO
14
DELISTED
ARMO BioSciences, Inc. Common Stock
ARMO
| $154M | 1.91% |
+4,118,903
| New | +$173M |
2018 Q1
0 quarters
|
|
15
Alnylam Pharmaceuticals
ALNY
$22.2B
| $151M | 1.87% |
1,265,966
+324,366
| +34% | +$41.8M |
2017 Q1
4 quarters
|
|
16
AbbVie
ABBV
$520B
| $145M | 1.79% |
1,527,500
+476,900
| +45% | +$52.4M |
2013 Q2
19 quarters
|
|
17
Edwards Lifesciences
EW
$53.3B
| $143M | 1.77% |
3,073,800
-298,500
| -9% | -$13M |
2016 Q1
8 quarters
|
|
|
WMGI
18
DELISTED
Wright Medical Group Inc
WMGI
| $136M | 1.69% |
6,852,068
| – | – |
2014 Q3
14 quarters
|
|
|
CLVS
19
DELISTED
Clovis Oncology, Inc.
CLVS
| $123M | 1.53% |
2,330,870
+359,200
| +18% | +$21M |
2017 Q2
3 quarters
|
|
|
AGN
20
DELISTED
Allergan plc
AGN
| $117M | 1.45% |
693,605
+406,315
| +141% | +$68.2M |
2013 Q2
19 quarters
|
|
21
DELISTED
NEVRO CORP.
NVRO
| $109M | 1.35% |
1,260,091
+362,300
| +40% | +$29.3M |
2017 Q1
4 quarters
|
|
|
LOXO
22
DELISTED
Loxo Oncology, Inc
LOXO
| $109M | 1.35% |
941,000
-93,159,036
| -99% | -$9.9B |
2014 Q3
14 quarters
|
|
23
DELISTED
Amicus Therapeutics
FOLD
| $106M | 1.32% |
7,072,500
+1,500,000
| +27% | +$22.8M |
2017 Q4
1 quarter
|
|
24
DELISTED
Audentes Therapeutics, Inc
BOLD
| $106M | 1.31% |
3,522,100
-607,538
| -15% | -$20.6M |
2016 Q3
6 quarters
|
|
|
25
DaVita
DVA
$11.9B
| $103M | 1.28% |
1,559,600
+1,082,200
| +227% | +$79.5M |
2017 Q4
1 quarter
|
|
Similar funds
OrbiMed's Q1 2018 Portfolio in Review
As of Q1 2018, OrbiMed held 157 positions worth $8.07B, up 2% from $7.91B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
OrbiMed withdrew a net $9.8B in Q1 2018, closing 16 positions and reducing 33 holdings. Its most notable exit was Eli Lilly, an estimated $193M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 98% of assets, up from 97% a quarter earlier, followed by Miscellaneous and Financials.
Against the trend, OrbiMed opened a new position in ARMO BioSciences, Inc. Common Stock worth $154M.
- OrbiMed's largest Q1 2018 buy was ARMO BioSciences, Inc. Common Stock: 4,118,903 shares worth $154M.
- OrbiMed added most to Bristol-Myers Squibb in Q1 2018, an estimated $192M increase.
- OrbiMed's biggest Q1 2018 reduction was Loxo Oncology, Inc, cutting an estimated $9.9B.
- OrbiMed fully exited Eli Lilly in Q1 2018, selling an estimated $193M.
- OrbiMed's ten largest holdings make up 34% of its $8.07B portfolio in Q1 2018.
- OrbiMed opened 25 new positions and closed 16 in Q1 2018.
- OrbiMed's portfolio value rose 2% quarter-over-quarter to $8.07B.
Based on OrbiMed's 13F filing for Q1 2018, filed 15 May 2018.