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 |
Prelude Therapeutics
PRLD
|
+$440M |
| 2 |
PMV Pharmaceuticals
PMVP
|
+$270M |
| 3 |
Acutus Medical Inc
AFIB
|
+$166M |
| 4 |
Adicet Bio
ACET
|
+$95.1M |
| 5 |
Theravance Biopharma
TBPH
|
+$68.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Ascendis Pharma A/S
ASND
|
+$119M |
| 2 |
Cigna
CI
|
+$82.5M |
| 3 |
Natera
NTRA
|
+$64.2M |
| 4 |
Alector
ALEC
|
+$52.6M |
| 5 |
Glaukos
GKOS
|
+$46.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 98.24% |
| 2 | Financials | 0.64% |
| 3 | Technology | 0.57% |
| 4 | Miscellaneous | 0.55% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Prelude Therapeutics
PRLD
$310M
| $470M | 5.94% |
+15,594,877
| New | +$440M |
2020 Q3
0 quarters
|
|
2
DELISTED
SpringWorks Therapeutics
SWTX
| $353M | 4.47% |
7,406,307
| – | – |
2019 Q3
4 quarters
|
|
|
3
PMV Pharmaceuticals
PMVP
$70M
| $260M | 3.29% |
+7,330,423
| New | +$270M |
2020 Q3
0 quarters
|
|
|
ALXN
4
DELISTED
Alexion Pharmaceuticals
ALXN
| $250M | 3.16% |
2,184,500
+28,500
| +1% | +$3.07M |
2013 Q2
29 quarters
|
|
|
TPTX
5
DELISTED
Turning Point Therapeutics, Inc. Common Stock
TPTX
| $240M | 3.03% |
2,745,327
| – | – |
2019 Q2
5 quarters
|
|
|
HZNP
6
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $234M | 2.96% |
3,008,755
+140,845
| +5% | +$9.7M |
2019 Q4
3 quarters
|
|
7
Iovance Biotherapeutics
IOVA
$3.84B
| $219M | 2.77% |
6,645,100
| – | – |
2015 Q1
22 quarters
|
|
|
MRTX
8
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $219M | 2.77% |
1,317,000
-7,100
| -0.5% | -$972K |
2019 Q3
4 quarters
|
|
9
Merck
MRK
$369B
| $215M | 2.72% |
2,713,377
| – | – |
2016 Q1
18 quarters
|
|
10
Bristol-Myers Squibb
BMY
$128B
| $214M | 2.71% |
3,549,100
+666,900
| +23% | +$40.1M |
2019 Q4
3 quarters
|
|
11
Biogen
BIIB
$37.5B
| $203M | 2.57% |
715,900
| – | – |
2013 Q2
29 quarters
|
|
12
Boston Scientific
BSX
$60.8B
| $185M | 2.34% |
4,847,300
| – | – |
2014 Q1
26 quarters
|
|
13
Vertex Pharmaceuticals
VRTX
$142B
| $181M | 2.29% |
666,100
| – | – |
2013 Q2
29 quarters
|
|
|
14
DELISTED
Acutus Medical Inc
AFIB
| $163M | 2.07% |
+5,477,958
| New | +$166M |
2020 Q3
0 quarters
|
|
|
15
Natera
NTRA
$59.7B
| $152M | 1.93% |
2,110,700
-1,129,814
| -35% | -$64.2M |
2015 Q3
20 quarters
|
|
|
PRVL
16
DELISTED
Prevail Therapeutics Inc. Common Stock
PRVL
| $141M | 1.78% |
13,822,463
| – | – |
2019 Q2
5 quarters
|
|
17
Arcutis Biotherapeutics
ARQT
$4.03B
| $137M | 1.73% |
4,673,850
| – | – |
2020 Q1
2 quarters
|
|
18
Neurocrine Biosciences
NBIX
$14.9B
| $125M | 1.58% |
1,301,715
+115,800
| +10% | +$13.4M |
2018 Q1
10 quarters
|
|
19
Burning Rock Biotech
BNR
$115M
| $119M | 1.51% |
474,608
+1
| +0% | +$237 |
2020 Q2
1 quarter
|
|
20
Humana
HUM
$49.8B
| $116M | 1.47% |
280,300
| – | – |
2019 Q3
4 quarters
|
|
|
21
Ascendis Pharma A/S
ASND
$16.5B
| $113M | 1.43% |
734,500
-828,486
| -53% | -$119M |
2015 Q1
22 quarters
|
|
22
DELISTED
Repare Therapeutics
RPTX
| $105M | 1.33% |
3,426,325
| – | – |
2020 Q2
1 quarter
|
|
23
DELISTED
89bio
ETNB
| $95.7M | 1.21% |
3,729,442
-275,000
| -7% | -$8.72M |
2019 Q4
3 quarters
|
|
24
DexCom
DXCM
$31.1B
| $93.3M | 1.18% |
905,600
| – | – |
2018 Q4
7 quarters
|
|
|
25
DELISTED
Theravance Biopharma
TBPH
| $92M | 1.16% |
6,219,110
+3,664,640
| +143% | +$68.6M |
2020 Q1
2 quarters
|
|
Similar funds
OrbiMed's Q3 2020 Portfolio in Review
As of Q3 2020, OrbiMed held 163 positions worth $7.9B, up 11% from $7.1B the previous quarter. Its ten largest holdings account for 34% of the portfolio.
OrbiMed deployed $1.07B of net new capital in Q3 2020, opening 28 new positions and adding to 23 existing holdings. Its largest new stake was Prelude Therapeutics: 15,594,877 shares worth $470M.
By sector, the portfolio is most concentrated in Healthcare at 98% of assets, up from 98% a quarter earlier, followed by Financials and Technology.
On the sell side, the largest reduction was Ascendis Pharma A/S, an estimated $119M trimmed.
- OrbiMed's largest Q3 2020 buy was Prelude Therapeutics: 15,594,877 shares worth $470M.
- OrbiMed added most to Adicet Bio in Q3 2020, an estimated $95.1M increase.
- OrbiMed's biggest Q3 2020 reduction was Ascendis Pharma A/S, cutting an estimated $119M.
- OrbiMed fully exited Cigna in Q3 2020, selling an estimated $82.5M.
- OrbiMed's ten largest holdings make up 34% of its $7.9B portfolio in Q3 2020.
- OrbiMed opened 28 new positions and closed 20 in Q3 2020.
- OrbiMed's portfolio value rose 11% quarter-over-quarter to $7.9B.
Based on OrbiMed's 13F filing for Q3 2020, filed 16 Nov 2020.