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 |
Burning Rock Biotech
BNR
|
+$130M |
| 2 |
Repare Therapeutics
RPTX
|
+$110M |
| 3 |
Oric Pharmaceuticals
ORIC
|
+$93.3M |
| 4 |
Biogen
BIIB
|
+$70.8M |
| 5 |
Theravance Biopharma
TBPH
|
+$60.2M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ascendis Pharma A/S
ASND
|
+$237M |
| 2 |
Pfizer
PFE
|
+$98.3M |
| 3 |
Gilead Sciences
GILD
|
+$98M |
| 4 |
Alector
ALEC
|
+$64.9M |
| 5 |
HCA Healthcare
HCA
|
+$63.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 97.96% |
| 2 | Financials | 1.61% |
| 3 | Miscellaneous | 0.43% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
DELISTED
SpringWorks Therapeutics
SWTX
| $311M | 4.38% |
7,406,307
| – | – |
2019 Q3
3 quarters
|
|
|
TCDA
2
DELISTED
Tricida, Inc. Common Stock
TCDA
| $264M | 3.72% |
9,614,280
| – | – |
2018 Q2
8 quarters
|
|
|
ALXN
3
DELISTED
Alexion Pharmaceuticals
ALXN
| $242M | 3.41% |
2,156,000
+84,615
| +4% | +$8.98M |
2013 Q2
28 quarters
|
|
|
4
Ascendis Pharma A/S
ASND
$16.5B
| $231M | 3.25% |
1,562,986
-1,724,414
| -52% | -$237M |
2015 Q1
21 quarters
|
|
|
PRVL
5
DELISTED
Prevail Therapeutics Inc. Common Stock
PRVL
| $206M | 2.9% |
13,822,463
| – | – |
2019 Q2
4 quarters
|
|
6
Merck
MRK
$369B
| $200M | 2.82% |
2,713,377
| – | – |
2016 Q1
17 quarters
|
|
7
Vertex Pharmaceuticals
VRTX
$142B
| $193M | 2.72% |
666,100
-71,300
| -10% | -$19.3M |
2013 Q2
28 quarters
|
|
|
8
Biogen
BIIB
$37.5B
| $192M | 2.7% |
715,900
+235,500
| +49% | +$70.8M |
2013 Q2
28 quarters
|
|
9
Passage Bio
PASG
$11.1M
| $190M | 2.68% |
348,145
| – | – |
2020 Q1
1 quarter
|
|
10
Iovance Biotherapeutics
IOVA
$3.84B
| $182M | 2.57% |
6,645,100
+1,096,774
| +20% | +$36.1M |
2015 Q1
21 quarters
|
|
|
TPTX
11
DELISTED
Turning Point Therapeutics, Inc. Common Stock
TPTX
| $177M | 2.5% |
2,745,327
| – | – |
2019 Q2
4 quarters
|
|
12
Boston Scientific
BSX
$60.8B
| $170M | 2.4% |
4,847,300
| – | – |
2014 Q1
25 quarters
|
|
13
Bristol-Myers Squibb
BMY
$128B
| $169M | 2.39% |
2,882,200
+407,400
| +16% | +$24.4M |
2019 Q4
2 quarters
|
|
14
Natera
NTRA
$59.7B
| $162M | 2.27% |
3,240,514
-106,486
| -3% | -$4.27M |
2015 Q3
19 quarters
|
|
|
HZNP
15
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $159M | 2.24% |
2,867,910
+526,210
| +22% | +$22.5M |
2019 Q4
2 quarters
|
|
|
MRTX
16
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $151M | 2.13% |
1,324,100
-99,200
| -7% | -$9.6M |
2019 Q3
3 quarters
|
|
|
17
Alector
ALEC
$247M
| $146M | 2.06% |
5,975,322
-2,352,369
| -28% | -$64.9M |
2019 Q1
5 quarters
|
|
18
Neurocrine Biosciences
NBIX
$14.9B
| $145M | 2.04% |
1,185,915
+30,900
| +3% | +$3.41M |
2018 Q1
9 quarters
|
|
19
Arcutis Biotherapeutics
ARQT
$4.03B
| $141M | 1.99% |
4,673,850
| – | – |
2020 Q1
1 quarter
|
|
|
20
Burning Rock Biotech
BNR
$115M
| $128M | 1.8% |
+474,607
| New | +$130M |
2020 Q2
0 quarters
|
|
21
Humana
HUM
$49.8B
| $109M | 1.53% |
280,300
| – | – |
2019 Q3
3 quarters
|
|
|
22
DELISTED
Repare Therapeutics
RPTX
| $106M | 1.5% |
+3,426,325
| New | +$110M |
2020 Q2
0 quarters
|
|
|
23
Oric Pharmaceuticals
ORIC
$958M
| $98.6M | 1.39% |
+2,921,967
| New | +$93.3M |
2020 Q2
0 quarters
|
|
24
Agios Pharmaceuticals
AGIO
$1.82B
| $92.4M | 1.3% |
1,728,421
+75,725
| +5% | +$3.51M |
2020 Q1
1 quarter
|
|
25
DexCom
DXCM
$31.1B
| $91.8M | 1.29% |
905,600
-446,400
| -33% | -$39.9M |
2018 Q4
6 quarters
|
|
Similar funds
OrbiMed's Q2 2020 Portfolio in Review
As of Q2 2020, OrbiMed held 166 positions worth $7.1B, up 19% from $5.95B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
OrbiMed's Q2 2020 filing shows 24 new, 29 increased, 28 reduced and 31 closed positions. Its largest new stake was Burning Rock Biotech: 474,607 shares worth $128M. The largest sale was Ascendis Pharma A/S, an estimated $237M.
By sector, the portfolio is most concentrated in Healthcare at 98% of assets, up from 97% a quarter earlier, followed by Financials and Miscellaneous.
- OrbiMed's largest Q2 2020 buy was Burning Rock Biotech: 474,607 shares worth $128M.
- OrbiMed added most to Biogen in Q2 2020, an estimated $70.8M increase.
- OrbiMed's biggest Q2 2020 reduction was Ascendis Pharma A/S, cutting an estimated $237M.
- OrbiMed fully exited Pfizer in Q2 2020, selling an estimated $98.3M.
- OrbiMed's ten largest holdings make up 31% of its $7.1B portfolio in Q2 2020.
- OrbiMed opened 24 new positions and closed 31 in Q2 2020.
- OrbiMed's portfolio value rose 19% quarter-over-quarter to $7.1B.
Based on OrbiMed's 13F filing for Q2 2020, filed 14 Aug 2020.