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 |
Invivyd
IVVD
|
+$200M |
| 2 |
Zimmer Biomet
ZBH
|
+$100M |
| 3 |
Biogen
BIIB
|
+$54.7M |
| 4 |
HCA Healthcare
HCA
|
+$47.4M |
| 5 |
Mereo BioPharma
MREO
|
+$45.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Aurinia Pharmaceuticals
AUPH
|
+$78.7M |
| 2 |
Ascendis Pharma A/S
ASND
|
+$58.9M |
| 3 |
Natera
NTRA
|
+$55.6M |
| 4 |
Elevance Health
ELV
|
+$48.9M |
| 5 |
Boston Scientific
BSX
|
+$48.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 95.41% |
| 2 | Miscellaneous | 4.48% |
| 3 | Technology | 0.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
DELISTED
SpringWorks Therapeutics
SWTX
| $382M | 4.2% |
6,028,307
-15,959
| -0.3% | -$1.23M |
2019 Q3
8 quarters
|
|
2
Prelude Therapeutics
PRLD
$309M
| $314M | 3.45% |
10,039,691
| – | – |
2020 Q3
4 quarters
|
|
|
HZNP
3
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $286M | 3.14% |
2,610,355
-311,800
| -11% | -$32.4M |
2019 Q4
7 quarters
|
|
4
Merck
MRK
$371B
| $280M | 3.08% |
3,732,400
| – | – |
2016 Q1
22 quarters
|
|
5
Bristol-Myers Squibb
BMY
$129B
| $267M | 2.94% |
4,515,400
| – | – |
2019 Q4
7 quarters
|
|
|
6
Boston Scientific
BSX
$61B
| $253M | 2.78% |
5,833,600
-1,087,000
| -16% | -$48.1M |
2014 Q1
30 quarters
|
|
|
MRTX
7
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $243M | 2.67% |
1,373,200
+109,000
| +9% | +$17.5M |
2019 Q3
8 quarters
|
|
8
Edgewise Therapeutics
EWTX
$4.15B
| $231M | 2.54% |
13,944,680
| – | – |
2021 Q1
2 quarters
|
|
|
9
Invivyd
IVVD
$163M
| $227M | 2.5% |
+5,383,500
| New | +$200M |
2021 Q3
0 quarters
|
|
10
PMV Pharmaceuticals
PMVP
$68.4M
| $218M | 2.4% |
7,330,423
| – | – |
2020 Q3
4 quarters
|
|
|
11
Natera
NTRA
$59.5B
| $175M | 1.93% |
1,572,800
-485,000
| -24% | -$55.6M |
2015 Q3
24 quarters
|
|
12
Iovance Biotherapeutics
IOVA
$3.91B
| $164M | 1.8% |
6,645,100
| – | – |
2015 Q1
26 quarters
|
|
13
Vertex Pharmaceuticals
VRTX
$142B
| $159M | 1.75% |
877,400
-188,000
| -18% | -$36.7M |
2013 Q2
33 quarters
|
|
|
TPTX
14
DELISTED
Turning Point Therapeutics, Inc. Common Stock
TPTX
| $157M | 1.72% |
2,361,327
| – | – |
2019 Q2
9 quarters
|
|
15
Guardant Health
GH
$23.9B
| $153M | 1.69% |
1,227,400
| – | – |
2020 Q3
4 quarters
|
|
16
AbbVie
ABBV
$522B
| $153M | 1.68% |
1,420,600
+253,100
| +22% | +$28.9M |
2020 Q1
6 quarters
|
|
17
UnitedHealth
UNH
$368B
| $152M | 1.67% |
389,700
| – | – |
2020 Q4
3 quarters
|
|
18
Arcutis Biotherapeutics
ARQT
$4B
| $145M | 1.59% |
6,073,850
| – | – |
2020 Q1
6 quarters
|
|
19
Intuitive Surgical
ISRG
$154B
| $139M | 1.53% |
418,800
| – | – |
2013 Q4
31 quarters
|
|
20
State Street SPDR S&P Biotech ETF
XBI
$10.8B
| $134M | 1.47% |
1,065,700
+130,000
| +14% | +$16.7M |
2021 Q2
1 quarter
|
|
21
Humana
HUM
$49.4B
| $130M | 1.43% |
335,000
| – | – |
2019 Q3
8 quarters
|
|
22
Edwards Lifesciences
EW
$53.4B
| $128M | 1.4% |
1,126,400
| – | – |
2016 Q1
22 quarters
|
|
23
DexCom
DXCM
$31.2B
| $125M | 1.37% |
912,000
-277,600
| -23% | -$35M |
2018 Q4
11 quarters
|
|
24
Neurocrine Biosciences
NBIX
$15B
| $114M | 1.26% |
1,192,015
-39,100
| -3% | -$3.69M |
2018 Q1
14 quarters
|
|
|
GRCL
25
DELISTED
Gracell Biotechnologies Inc. American Depositary Shares
GRCL
| $109M | 1.2% |
7,884,870
| – | – |
2021 Q1
2 quarters
|
|
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OrbiMed's Q3 2021 Portfolio in Review
As of Q3 2021, OrbiMed held 189 positions worth $9.1B, down 8% from $9.9B the previous quarter. Its ten largest holdings account for 30% of the portfolio.
OrbiMed's Q3 2021 filing shows 31 new, 28 increased, 27 reduced and 17 closed positions. Its largest new stake was Invivyd: 5,383,500 shares worth $227M. The largest sale was Aurinia Pharmaceuticals, an estimated $78.7M.
By sector, the portfolio is most concentrated in Healthcare at 95% of assets, down from 96% a quarter earlier, followed by Miscellaneous and Technology.
- OrbiMed's largest Q3 2021 buy was Invivyd: 5,383,500 shares worth $227M.
- OrbiMed added most to Biogen in Q3 2021, an estimated $54.7M increase.
- OrbiMed's biggest Q3 2021 reduction was Natera, cutting an estimated $55.6M.
- OrbiMed fully exited Aurinia Pharmaceuticals in Q3 2021, selling an estimated $78.7M.
- OrbiMed's ten largest holdings make up 30% of its $9.1B portfolio in Q3 2021.
- OrbiMed opened 31 new positions and closed 17 in Q3 2021.
- OrbiMed's portfolio value fell 8% quarter-over-quarter to $9.1B.
Based on OrbiMed's 13F filing for Q3 2021, filed 15 Nov 2021.