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 |
THRX
Theseus Pharmaceuticals, Inc. Common Stock
THRX
|
+$254M |
| 2 |
Pfizer
PFE
|
+$130M |
| 3 |
Compass Therapeutics
CMPX
|
+$71.8M |
| 4 |
SGEN
Seagen Inc. Common Stock
SGEN
|
+$64.9M |
| 5 |
BioMarin Pharmaceuticals
BMRN
|
+$61.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Merck
MRK
|
+$156M |
| 2 |
Elevance Health
ELV
|
+$77.2M |
| 3 |
Deciphera Pharmaceuticals, Inc. Common Stock
DCPH
|
+$74.2M |
| 4 |
Progyny
PGNY
|
+$71.1M |
| 5 |
CRISPR Therapeutics
CRSP
|
+$68.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 96.32% |
| 2 | Miscellaneous | 3.68% |
| 3 | Industrials | 0% |
| 4 | Technology | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
DELISTED
SpringWorks Therapeutics
SWTX
| $374M | 4.8% |
6,028,307
| – | – |
2019 Q3
9 quarters
|
|
2
Bristol-Myers Squibb
BMY
$128B
| $271M | 3.48% |
4,339,800
-175,600
| -4% | -$10.3M |
2019 Q4
8 quarters
|
|
|
HZNP
3
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $269M | 3.46% |
2,500,055
-110,300
| -4% | -$12M |
2019 Q4
8 quarters
|
|
4
Boston Scientific
BSX
$60.8B
| $236M | 3.03% |
5,552,300
-281,300
| -5% | -$11.8M |
2014 Q1
31 quarters
|
|
|
THRX
5
DELISTED
Theseus Pharmaceuticals, Inc. Common Stock
THRX
| $214M | 2.74% |
+16,838,668
| New | +$254M |
2021 Q4
0 quarters
|
|
6
Edgewise Therapeutics
EWTX
$4.22B
| $213M | 2.74% |
13,944,680
| – | – |
2021 Q1
3 quarters
|
|
|
MRTX
7
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $209M | 2.69% |
1,426,400
+53,200
| +4% | +$8.26M |
2019 Q3
9 quarters
|
|
8
PMV Pharmaceuticals
PMVP
$70M
| $169M | 2.18% |
7,330,423
| – | – |
2020 Q3
5 quarters
|
|
|
9
Pfizer
PFE
$174B
| $154M | 1.99% |
+2,615,400
| New | +$130M |
2021 Q4
0 quarters
|
|
10
Humana
HUM
$49.8B
| $148M | 1.9% |
318,300
-16,700
| -5% | -$7.39M |
2019 Q3
9 quarters
|
|
11
AbbVie
ABBV
$521B
| $145M | 1.86% |
1,068,800
-351,800
| -25% | -$41.6M |
2020 Q1
7 quarters
|
|
12
Vertex Pharmaceuticals
VRTX
$142B
| $145M | 1.86% |
658,100
-219,300
| -25% | -$42.6M |
2013 Q2
34 quarters
|
|
13
Edwards Lifesciences
EW
$53B
| $139M | 1.79% |
1,076,200
-50,200
| -4% | -$5.86M |
2016 Q1
23 quarters
|
|
|
14
Merck
MRK
$369B
| $136M | 1.75% |
1,779,300
-1,953,100
| -52% | -$156M |
2016 Q1
23 quarters
|
|
15
UnitedHealth
UNH
$365B
| $136M | 1.75% |
271,000
-118,700
| -30% | -$53.7M |
2020 Q4
4 quarters
|
|
16
Intuitive Surgical
ISRG
$153B
| $134M | 1.73% |
373,800
-45,000
| -11% | -$15.5M |
2013 Q4
32 quarters
|
|
17
Natera
NTRA
$59.7B
| $132M | 1.7% |
1,413,985
-158,815
| -10% | -$16.5M |
2015 Q3
25 quarters
|
|
18
Adicet Bio
ACET
$32M
| $130M | 1.67% |
465,446
+13,392
| +3% | +$2.3M |
2018 Q1
15 quarters
|
|
19
Arcutis Biotherapeutics
ARQT
$4.03B
| $126M | 1.62% |
6,073,850
| – | – |
2020 Q1
7 quarters
|
|
20
Prelude Therapeutics
PRLD
$310M
| $125M | 1.61% |
10,039,691
| – | – |
2020 Q3
5 quarters
|
|
21
Stryker
SYK
$112B
| $124M | 1.6% |
465,300
+127,900
| +38% | +$33.6M |
2020 Q3
5 quarters
|
|
22
Guardant Health
GH
$24B
| $123M | 1.58% |
1,227,400
| – | – |
2020 Q3
5 quarters
|
|
23
Iovance Biotherapeutics
IOVA
$3.84B
| $121M | 1.56% |
6,337,700
-307,400
| -5% | -$6.77M |
2015 Q1
27 quarters
|
|
24
State Street SPDR S&P Biotech ETF
XBI
$10.8B
| $113M | 1.45% |
1,009,700
-56,000
| -5% | -$6.75M |
2021 Q2
2 quarters
|
|
|
SGEN
25
DELISTED
Seagen Inc. Common Stock
SGEN
| $101M | 1.3% |
655,600
+387,600
| +145% | +$64.9M |
2021 Q3
1 quarter
|
|
Similar funds
OrbiMed's Q4 2021 Portfolio in Review
As of Q4 2021, OrbiMed held 186 positions worth $7.78B, down 15% from $9.1B the previous quarter. Its ten largest holdings account for 29% of the portfolio.
OrbiMed withdrew a net $319M in Q4 2021, closing 29 positions and reducing 45 holdings. Its most notable exit was Elevance Health, an estimated $77.2M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 96% of assets, up from 95% a quarter earlier, followed by Miscellaneous and Industrials.
Against the trend, OrbiMed opened a new position in Theseus Pharmaceuticals, Inc. Common Stock worth $214M.
- OrbiMed's largest Q4 2021 buy was Theseus Pharmaceuticals, Inc. Common Stock: 16,838,668 shares worth $214M.
- OrbiMed added most to Seagen Inc. Common Stock in Q4 2021, an estimated $64.9M increase.
- OrbiMed's biggest Q4 2021 reduction was Merck, cutting an estimated $156M.
- OrbiMed fully exited Elevance Health in Q4 2021, selling an estimated $77.2M.
- OrbiMed's ten largest holdings make up 29% of its $7.78B portfolio in Q4 2021.
- OrbiMed opened 13 new positions and closed 29 in Q4 2021.
- OrbiMed's portfolio value fell 15% quarter-over-quarter to $7.78B.
Based on OrbiMed's 13F filing for Q4 2021, filed 14 Feb 2022.