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 |
89bio
ETNB
|
+$111M |
| 2 |
Bristol-Myers Squibb
BMY
|
+$97.4M |
| 3 |
Glaukos
GKOS
|
+$94.2M |
| 4 |
Danaher
DHR
|
+$91.1M |
| 5 |
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
|
+$77.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AVDR
Avedro, Inc Common Stock
AVDR
|
+$96.3M |
| 2 |
WMGI
Wright Medical Group Inc
WMGI
|
+$79.2M |
| 3 |
Neurocrine Biosciences
NBIX
|
+$66.9M |
| 4 |
TCDA
Tricida, Inc. Common Stock
TCDA
|
+$55.9M |
| 5 |
MYOK
MyoKardia, Inc. Common Stock
MYOK
|
+$45.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 97.81% |
| 2 | Financials | 1.53% |
| 3 | Miscellaneous | 0.66% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Ascendis Pharma A/S
ASND
$16.5B
| $465M | 6.64% |
3,343,100
-376,073
| -10% | -$41.8M |
2015 Q1
19 quarters
|
|
2
DELISTED
Synthorx, Inc. Common Stock
THOR
| $372M | 5.3% |
5,316,355
| – | – |
2018 Q4
4 quarters
|
|
|
TCDA
3
DELISTED
Tricida, Inc. Common Stock
TCDA
| $363M | 5.18% |
9,614,280
-1,500,000
| -13% | -$55.9M |
2018 Q2
6 quarters
|
|
4
DELISTED
SpringWorks Therapeutics
SWTX
| $285M | 4.07% |
7,406,307
| – | – |
2019 Q3
1 quarter
|
|
|
PRVL
5
DELISTED
Prevail Therapeutics Inc. Common Stock
PRVL
| $219M | 3.12% |
13,822,463
| – | – |
2019 Q2
2 quarters
|
|
6
Boston Scientific
BSX
$60.7B
| $211M | 3.02% |
4,674,800
-593,900
| -11% | -$24.9M |
2014 Q1
23 quarters
|
|
7
Alector
ALEC
$240M
| $189M | 2.7% |
10,987,944
-1,544,385
| -12% | -$26.3M |
2019 Q1
3 quarters
|
|
|
ALXN
8
DELISTED
Alexion Pharmaceuticals
ALXN
| $180M | 2.57% |
1,662,585
-700
| -0% | -$74.9K |
2013 Q2
26 quarters
|
|
9
Merck
MRK
$369B
| $178M | 2.54% |
2,047,897
| – | – |
2016 Q1
15 quarters
|
|
|
MRTX
10
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $173M | 2.47% |
1,340,600
+805,457
| +151% | +$77.7M |
2019 Q3
1 quarter
|
|
11
Vertex Pharmaceuticals
VRTX
$142B
| $171M | 2.45% |
783,100
-63,300
| -7% | -$12.8M |
2013 Q2
26 quarters
|
|
|
TPTX
12
DELISTED
Turning Point Therapeutics, Inc. Common Stock
TPTX
| $171M | 2.44% |
2,745,327
| – | – |
2019 Q2
2 quarters
|
|
13
Iovance Biotherapeutics
IOVA
$3.8B
| $154M | 2.19% |
5,548,326
| – | – |
2015 Q1
19 quarters
|
|
14
NextCure
NXTC
$28.7M
| $153M | 2.18% |
225,918
| – | – |
2019 Q2
2 quarters
|
|
15
Humana
HUM
$49.3B
| $144M | 2.05% |
391,900
+210,100
| +116% | +$66.6M |
2019 Q3
1 quarter
|
|
|
16
Bristol-Myers Squibb
BMY
$128B
| $109M | 1.56% |
+1,700,000
| New | +$97.4M |
2019 Q4
0 quarters
|
|
17
eHealth
EHTH
$15.9M
| $107M | 1.53% |
1,111,914
-5,500
| -0.5% | -$427K |
2015 Q1
19 quarters
|
|
|
18
DELISTED
89bio
ETNB
| $105M | 1.5% |
+4,004,442
| New | +$111M |
2019 Q4
0 quarters
|
|
19
Edwards Lifesciences
EW
$53.2B
| $101M | 1.45% |
1,304,700
-218,700
| -14% | -$17.1M |
2016 Q1
15 quarters
|
|
|
20
Neurocrine Biosciences
NBIX
$14.9B
| $101M | 1.44% |
935,970
-639,200
| -41% | -$66.9M |
2018 Q1
7 quarters
|
|
21
Cigna
CI
$78.7B
| $100M | 1.43% |
489,700
+198,100
| +68% | +$36.3M |
2017 Q2
10 quarters
|
|
22
Inspire Medical Systems
INSP
$1.97B
| $100M | 1.43% |
1,347,000
-124,000
| -8% | -$7.97M |
2018 Q2
6 quarters
|
|
|
ARQL
23
DELISTED
Arqule Inc
ARQL
| $100M | 1.42% |
5,000,000
+1,298,727
| +35% | +$15.1M |
2019 Q2
2 quarters
|
|
24
Intuitive Surgical
ISRG
$153B
| $99.2M | 1.42% |
503,400
-113,400
| -18% | -$21.2M |
2013 Q4
24 quarters
|
|
25
Sarepta Therapeutics
SRPT
$1.96B
| $98.9M | 1.41% |
766,049
-71,300
| -9% | -$7.2M |
2017 Q4
8 quarters
|
|
Similar funds
OrbiMed's Q4 2019 Portfolio in Review
As of Q4 2019, OrbiMed held 156 positions worth $7B, up 33% from $5.27B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
OrbiMed's Q4 2019 filing shows 40 new, 17 increased, 34 reduced and 20 closed positions. Its largest new stake was 89bio: 4,004,442 shares worth $105M. The largest sale was Avedro, Inc Common Stock, an estimated $96.3M.
By sector, the portfolio is most concentrated in Healthcare at 98% of assets, up from 98% a quarter earlier, followed by Financials and Miscellaneous.
- OrbiMed's largest Q4 2019 buy was 89bio: 4,004,442 shares worth $105M.
- OrbiMed added most to Mirati Therapeutics, Inc. Common Stock in Q4 2019, an estimated $77.7M increase.
- OrbiMed's biggest Q4 2019 reduction was Neurocrine Biosciences, cutting an estimated $66.9M.
- OrbiMed fully exited Avedro, Inc Common Stock in Q4 2019, selling an estimated $96.3M.
- OrbiMed's ten largest holdings make up 38% of its $7B portfolio in Q4 2019.
- OrbiMed opened 40 new positions and closed 20 in Q4 2019.
- OrbiMed's portfolio value rose 33% quarter-over-quarter to $7B.
Based on OrbiMed's 13F filing for Q4 2019, filed 14 Feb 2020.