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 |
Edgewise Therapeutics
EWTX
|
+$452M |
| 2 |
GRCL
Gracell Biotechnologies Inc. American Depositary Shares
GRCL
|
+$186M |
| 3 |
Chemomab Therapeutics
CMMB
|
+$128M |
| 4 |
Haemonetics
HAE
|
+$105M |
| 5 |
Disc Medicine
IRON
|
+$86.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Prelude Therapeutics
PRLD
|
+$369M |
| 2 |
PRVL
Prevail Therapeutics Inc. Common Stock
PRVL
|
+$319M |
| 3 |
Pfizer
PFE
|
+$133M |
| 4 |
Biogen
BIIB
|
+$121M |
| 5 |
Centene
CNC
|
+$120M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 95.65% |
| 2 | Miscellaneous | 4.23% |
| 3 | Technology | 0.12% |
| 4 | Financials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
DELISTED
SpringWorks Therapeutics
SWTX
| $455M | 4.26% |
6,186,307
-1,220,000
| -16% | -$95.5M |
2019 Q3
6 quarters
|
|
|
2
Edgewise Therapeutics
EWTX
$4.22B
| $453M | 4.24% |
+13,944,680
| New | +$452M |
2021 Q1
0 quarters
|
|
|
3
Prelude Therapeutics
PRLD
$310M
| $435M | 4.07% |
10,039,691
-5,555,186
| -36% | -$369M |
2020 Q3
2 quarters
|
|
4
ARS Pharmaceuticals
SPRY
$336M
| $381M | 3.57% |
8,740,887
| – | – |
2020 Q4
1 quarter
|
|
|
HZNP
5
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $289M | 2.71% |
3,144,355
+135,600
| +5% | +$11.4M |
2019 Q4
5 quarters
|
|
6
Merck
MRK
$369B
| $288M | 2.69% |
3,911,555
+1,124,609
| +40% | +$83M |
2016 Q1
20 quarters
|
|
7
Bristol-Myers Squibb
BMY
$128B
| $285M | 2.67% |
4,515,400
+966,300
| +27% | +$60.1M |
2019 Q4
5 quarters
|
|
8
AbCellera Biologics
ABCL
$3.98B
| $278M | 2.6% |
8,200,768
-200,000
| -2% | -$7.97M |
2020 Q4
1 quarter
|
|
9
Boston Scientific
BSX
$60.8B
| $267M | 2.5% |
6,920,600
+397,600
| +6% | +$15M |
2014 Q1
28 quarters
|
|
10
Vertex Pharmaceuticals
VRTX
$142B
| $244M | 2.28% |
1,135,900
+301,800
| +36% | +$66.3M |
2013 Q2
31 quarters
|
|
11
PMV Pharmaceuticals
PMVP
$70M
| $241M | 2.25% |
7,330,423
| – | – |
2020 Q3
2 quarters
|
|
|
TPTX
12
DELISTED
Turning Point Therapeutics, Inc. Common Stock
TPTX
| $223M | 2.09% |
2,361,327
-384,000
| -14% | -$45.7M |
2019 Q2
7 quarters
|
|
13
Natera
NTRA
$59.7B
| $223M | 2.08% |
2,195,900
+85,200
| +4% | +$9.34M |
2015 Q3
22 quarters
|
|
14
Iovance Biotherapeutics
IOVA
$3.84B
| $210M | 1.97% |
6,645,100
| – | – |
2015 Q1
24 quarters
|
|
|
MRTX
15
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $209M | 1.96% |
1,221,200
+75,900
| +7% | +$15M |
2019 Q3
6 quarters
|
|
16
Arcutis Biotherapeutics
ARQT
$4.03B
| $176M | 1.64% |
6,073,850
| – | – |
2020 Q1
4 quarters
|
|
17
Xtant Medical Holdings
XTNT
$39.3M
| $172M | 1.61% |
72,873,494
+70,422
| +0.1% | +$150K |
2013 Q2
31 quarters
|
|
18
UnitedHealth
UNH
$365B
| $150M | 1.4% |
403,000
+12,700
| +3% | +$4.4M |
2020 Q4
1 quarter
|
|
19
Guardant Health
GH
$24B
| $149M | 1.4% |
977,400
+439,200
| +82% | +$66.4M |
2020 Q3
2 quarters
|
|
20
Humana
HUM
$49.8B
| $131M | 1.23% |
313,600
+27,500
| +10% | +$11M |
2019 Q3
6 quarters
|
|
21
AbbVie
ABBV
$521B
| $131M | 1.23% |
1,213,200
+350,900
| +41% | +$37.5M |
2020 Q1
4 quarters
|
|
22
DELISTED
Theravance Biopharma
TBPH
| $127M | 1.19% |
6,219,110
| – | – |
2020 Q1
4 quarters
|
|
23
Neurocrine Biosciences
NBIX
$14.9B
| $127M | 1.18% |
1,301,715
| – | – |
2018 Q1
12 quarters
|
|
24
Passage Bio
PASG
$11.1M
| $122M | 1.14% |
348,145
| – | – |
2020 Q1
4 quarters
|
|
|
GRCL
25
DELISTED
Gracell Biotechnologies Inc. American Depositary Shares
GRCL
| $121M | 1.14% |
+7,884,870
| New | +$186M |
2021 Q1
0 quarters
|
|
Similar funds
OrbiMed's Q1 2021 Portfolio in Review
As of Q1 2021, OrbiMed held 188 positions worth $10.7B, down 6.4% from $11.4B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
OrbiMed deployed $490M of net new capital in Q1 2021, opening 39 new positions and adding to 39 existing holdings. Its largest new stake was Edgewise Therapeutics: 13,944,680 shares worth $453M.
By sector, the portfolio is most concentrated in Healthcare at 96% of assets, down from 99% a quarter earlier, followed by Miscellaneous and Technology.
On the sell side, the largest reduction was Prelude Therapeutics, an estimated $369M trimmed.
- OrbiMed's largest Q1 2021 buy was Edgewise Therapeutics: 13,944,680 shares worth $453M.
- OrbiMed added most to Merck in Q1 2021, an estimated $83M increase.
- OrbiMed's biggest Q1 2021 reduction was Prelude Therapeutics, cutting an estimated $369M.
- OrbiMed fully exited Prevail Therapeutics Inc. Common Stock in Q1 2021, selling an estimated $319M.
- OrbiMed's ten largest holdings make up 33% of its $10.7B portfolio in Q1 2021.
- OrbiMed opened 39 new positions and closed 30 in Q1 2021.
- OrbiMed's portfolio value fell 6.4% quarter-over-quarter to $10.7B.
Based on OrbiMed's 13F filing for Q1 2021, filed 17 May 2021.