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 |
Biogen
BIIB
|
+$126M |
| 2 |
Arcutis Biotherapeutics
ARQT
|
+$126M |
| 3 |
Passage Bio
PASG
|
+$109M |
| 4 |
Pfizer
PFE
|
+$108M |
| 5 |
Centene
CNC
|
+$81M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Synthorx, Inc. Common Stock
THOR
|
+$372M |
| 2 |
ARQL
Arqule Inc
ARQL
|
+$100M |
| 3 |
Danaher
DHR
|
+$98.1M |
| 4 |
Regeneron Pharmaceuticals
REGN
|
+$79.2M |
| 5 |
Inspire Medical Systems
INSP
|
+$74M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 97.06% |
| 2 | Financials | 1.87% |
| 3 | Miscellaneous | 1.07% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Ascendis Pharma A/S
ASND
$17.1B
| $370M | 6.22% |
3,287,400
-55,700
| -2% | -$7.24M |
2015 Q1
20 quarters
|
|
|
TCDA
2
DELISTED
Tricida, Inc. Common Stock
TCDA
| $212M | 3.55% |
9,614,280
| – | – |
2018 Q2
7 quarters
|
|
3
Alector
ALEC
$392M
| $201M | 3.38% |
8,327,691
-2,660,253
| -24% | -$67.8M |
2019 Q1
4 quarters
|
|
4
DELISTED
SpringWorks Therapeutics
SWTX
| $200M | 3.36% |
7,406,307
| – | – |
2019 Q3
2 quarters
|
|
5
Merck
MRK
$363B
| $199M | 3.35% |
2,713,377
+665,480
| +32% | +$52.3M |
2016 Q1
16 quarters
|
|
|
ALXN
6
DELISTED
Alexion Pharmaceuticals
ALXN
| $186M | 3.13% |
2,071,385
+408,800
| +25% | +$40.1M |
2013 Q2
27 quarters
|
|
7
Vertex Pharmaceuticals
VRTX
$139B
| $175M | 2.95% |
737,400
-45,700
| -6% | -$10.5M |
2013 Q2
27 quarters
|
|
|
PRVL
8
DELISTED
Prevail Therapeutics Inc. Common Stock
PRVL
| $168M | 2.83% |
13,822,463
| – | – |
2019 Q2
3 quarters
|
|
9
Iovance Biotherapeutics
IOVA
$3.74B
| $166M | 2.79% |
5,548,326
| – | – |
2015 Q1
20 quarters
|
|
10
Boston Scientific
BSX
$65.4B
| $158M | 2.66% |
4,847,300
+172,500
| +4% | +$6.74M |
2014 Q1
24 quarters
|
|
|
11
Biogen
BIIB
$37.5B
| $152M | 2.55% |
480,400
+415,900
| +645% | +$126M |
2013 Q2
27 quarters
|
|
|
12
Arcutis Biotherapeutics
ARQT
$3.59B
| $139M | 2.34% |
+4,673,850
| New | +$126M |
2020 Q1
0 quarters
|
|
13
Bristol-Myers Squibb
BMY
$129B
| $138M | 2.32% |
2,474,800
+774,800
| +46% | +$47.4M |
2019 Q4
1 quarter
|
|
|
TPTX
14
DELISTED
Turning Point Therapeutics, Inc. Common Stock
TPTX
| $123M | 2.06% |
2,745,327
| – | – |
2019 Q2
3 quarters
|
|
15
Gilead Sciences
GILD
$211B
| $110M | 1.85% |
1,471,100
+1,145,000
| +351% | +$79.1M |
2013 Q2
27 quarters
|
|
|
16
Passage Bio
PASG
$12.9M
| $110M | 1.84% |
+348,145
| New | +$109M |
2020 Q1
0 quarters
|
|
|
MRTX
17
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $109M | 1.84% |
1,423,300
+82,700
| +6% | +$7.42M |
2019 Q3
2 quarters
|
|
18
DELISTED
89bio
ETNB
| $101M | 1.7% |
4,004,442
| – | – |
2019 Q4
1 quarter
|
|
19
NextCure
NXTC
$27.4M
| $100M | 1.69% |
225,918
| – | – |
2019 Q2
3 quarters
|
|
20
Neurocrine Biosciences
NBIX
$17.7B
| $100M | 1.68% |
1,155,015
+219,045
| +23% | +$21.4M |
2018 Q1
8 quarters
|
|
21
Natera
NTRA
$46.4B
| $100M | 1.68% |
3,347,000
+906,387
| +37% | +$30.3M |
2015 Q3
18 quarters
|
|
|
22
Pfizer
PFE
$168B
| $98.3M | 1.65% |
+3,174,753
| New | +$108M |
2020 Q1
0 quarters
|
|
23
DexCom
DXCM
$30B
| $91M | 1.53% |
1,352,000
+412,400
| +44% | +$25.7M |
2018 Q4
5 quarters
|
|
24
eHealth
EHTH
$14.8M
| $89.9M | 1.51% |
638,558
-473,356
| -43% | -$54.3M |
2015 Q1
20 quarters
|
|
25
Sarepta Therapeutics
SRPT
$1.79B
| $88.3M | 1.48% |
902,449
+136,400
| +18% | +$15.6M |
2017 Q4
9 quarters
|
|
Similar funds
OrbiMed's Q1 2020 Portfolio in Review
As of Q1 2020, OrbiMed held 172 positions worth $5.95B, down 15% from $7B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
OrbiMed's Q1 2020 filing shows 36 new, 33 increased, 28 reduced and 30 closed positions. Its largest new stake was Arcutis Biotherapeutics: 4,673,850 shares worth $139M. The largest sale was Synthorx, Inc. Common Stock, an estimated $372M.
By sector, the portfolio is most concentrated in Healthcare at 97% of assets, down from 98% a quarter earlier, followed by Financials and Miscellaneous.
- OrbiMed's largest Q1 2020 buy was Arcutis Biotherapeutics: 4,673,850 shares worth $139M.
- OrbiMed added most to Biogen in Q1 2020, an estimated $126M increase.
- OrbiMed's biggest Q1 2020 reduction was Regeneron Pharmaceuticals, cutting an estimated $79.2M.
- OrbiMed fully exited Synthorx, Inc. Common Stock in Q1 2020, selling an estimated $372M.
- OrbiMed's ten largest holdings make up 34% of its $5.95B portfolio in Q1 2020.
- OrbiMed opened 36 new positions and closed 30 in Q1 2020.
- OrbiMed's portfolio value fell 15% quarter-over-quarter to $5.95B.
Based on OrbiMed's 13F filing for Q1 2020, filed 15 May 2020.