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 |
AbCellera Biologics
ABCL
|
+$384M |
| 2 |
ARS Pharmaceuticals
SPRY
|
+$292M |
| 3 |
KNTE
Kinnate Biopharma Inc. Common Stock
KNTE
|
+$154M |
| 4 |
Pfizer
PFE
|
+$133M |
| 5 |
UnitedHealth
UNH
|
+$131M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
ALXN
Alexion Pharmaceuticals
ALXN
|
+$259M |
| 2 |
XLRN
Acceleron Pharma
XLRN
|
+$67.6M |
| 3 |
Ascendis Pharma A/S
ASND
|
+$65.8M |
| 4 |
Exelixis
EXEL
|
+$58.8M |
| 5 |
Biogen
BIIB
|
+$48.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 98.89% |
| 2 | Financials | 0.52% |
| 3 | Technology | 0.5% |
| 4 | Miscellaneous | 0.09% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Prelude Therapeutics
PRLD
$300M
| $1.12B | 9.76% |
15,594,877
| – | – |
2020 Q3
1 quarter
|
|
2
DELISTED
SpringWorks Therapeutics
SWTX
| $537M | 4.7% |
7,406,307
| – | – |
2019 Q3
5 quarters
|
|
3
PMV Pharmaceuticals
PMVP
$66.8M
| $451M | 3.95% |
7,330,423
| – | – |
2020 Q3
1 quarter
|
|
|
4
ARS Pharmaceuticals
SPRY
$317M
| $405M | 3.54% |
+8,740,887
| New | +$292M |
2020 Q4
0 quarters
|
|
|
5
AbCellera Biologics
ABCL
$4.05B
| $338M | 2.96% |
+8,400,768
| New | +$384M |
2020 Q4
0 quarters
|
|
|
TPTX
6
DELISTED
Turning Point Therapeutics, Inc. Common Stock
TPTX
| $335M | 2.93% |
2,745,327
| – | – |
2019 Q2
6 quarters
|
|
|
PRVL
7
DELISTED
Prevail Therapeutics Inc. Common Stock
PRVL
| $319M | 2.79% |
13,822,463
| – | – |
2019 Q2
6 quarters
|
|
8
Iovance Biotherapeutics
IOVA
$3.78B
| $308M | 2.7% |
6,645,100
| – | – |
2015 Q1
23 quarters
|
|
|
MRTX
9
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $252M | 2.2% |
1,145,300
-171,700
| -13% | -$37.1M |
2019 Q3
5 quarters
|
|
10
Boston Scientific
BSX
$63.8B
| $235M | 2.05% |
6,523,000
+1,675,700
| +35% | +$60.4M |
2014 Q1
27 quarters
|
|
11
Bristol-Myers Squibb
BMY
$127B
| $220M | 1.93% |
3,549,100
| – | – |
2019 Q4
4 quarters
|
|
|
HZNP
12
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $220M | 1.93% |
3,008,755
| – | – |
2019 Q4
4 quarters
|
|
13
Merck
MRK
$367B
| $218M | 1.9% |
2,786,946
+73,569
| +3% | +$5.63M |
2016 Q1
19 quarters
|
|
14
Natera
NTRA
$46.5B
| $210M | 1.84% |
2,110,700
| – | – |
2015 Q3
21 quarters
|
|
15
Vertex Pharmaceuticals
VRTX
$140B
| $197M | 1.73% |
834,100
+168,000
| +25% | +$38.5M |
2013 Q2
30 quarters
|
|
16
Passage Bio
PASG
$11M
| $178M | 1.56% |
348,145
| – | – |
2020 Q1
3 quarters
|
|
17
Arcutis Biotherapeutics
ARQT
$3.31B
| $171M | 1.5% |
6,073,850
+1,400,000
| +30% | +$34.3M |
2020 Q1
3 quarters
|
|
18
DELISTED
Acutus Medical Inc
AFIB
| $158M | 1.38% |
5,477,958
| – | – |
2020 Q3
1 quarter
|
|
|
KNTE
19
DELISTED
Kinnate Biopharma Inc. Common Stock
KNTE
| $153M | 1.34% |
+3,847,929
| New | +$154M |
2020 Q4
0 quarters
|
|
|
20
UnitedHealth
UNH
$356B
| $137M | 1.2% |
+390,300
| New | +$131M |
2020 Q4
0 quarters
|
|
|
21
Pfizer
PFE
$167B
| $133M | 1.16% |
+3,616,600
| New | +$133M |
2020 Q4
0 quarters
|
|
22
CalciMedica
CALC
$10.3M
| $130M | 1.14% |
63,941
| – | – |
2020 Q3
1 quarter
|
|
|
23
Biogen
BIIB
$37.7B
| $130M | 1.13% |
529,400
-186,500
| -26% | -$48.1M |
2013 Q2
30 quarters
|
|
24
Neurocrine Biosciences
NBIX
$17.1B
| $125M | 1.09% |
1,301,715
| – | – |
2018 Q1
11 quarters
|
|
25
Centene
CNC
$33.9B
| $120M | 1.05% |
1,993,700
+658,000
| +49% | +$41.8M |
2020 Q1
3 quarters
|
|
Similar funds
OrbiMed's Q4 2020 Portfolio in Review
As of Q4 2020, OrbiMed held 169 positions worth $11.4B, up 45% from $7.9B the previous quarter. Its ten largest holdings account for 38% of the portfolio.
OrbiMed deployed $1.31B of net new capital in Q4 2020, opening 25 new positions and adding to 27 existing holdings. Its largest new stake was AbCellera Biologics: 8,400,768 shares worth $338M.
By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 98% a quarter earlier, followed by Financials and Technology.
On the sell side, the largest reduction was Alexion Pharmaceuticals, an estimated $259M trimmed.
- OrbiMed's largest Q4 2020 buy was AbCellera Biologics: 8,400,768 shares worth $338M.
- OrbiMed added most to Xtant Medical Holdings in Q4 2020, an estimated $81.8M increase.
- OrbiMed's biggest Q4 2020 reduction was Alexion Pharmaceuticals, cutting an estimated $259M.
- OrbiMed fully exited Acceleron Pharma in Q4 2020, selling an estimated $67.6M.
- OrbiMed's ten largest holdings make up 38% of its $11.4B portfolio in Q4 2020.
- OrbiMed opened 25 new positions and closed 20 in Q4 2020.
- OrbiMed's portfolio value rose 45% quarter-over-quarter to $11.4B.
Based on OrbiMed's 13F filing for Q4 2020, filed 16 Feb 2021.