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 |
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
|
+$89.7M |
| 2 |
Pfizer
PFE
|
+$66.9M |
| 3 |
BioMarin Pharmaceuticals
BMRN
|
+$65.8M |
| 4 |
argenx
ARGX
|
+$49.4M |
| 5 |
GBT
Global Blood Therapeutics, Inc.
GBT
|
+$47.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Merck
MRK
|
+$136M |
| 2 |
Bristol-Myers Squibb
BMY
|
+$116M |
| 3 |
HCA Healthcare
HCA
|
+$100M |
| 4 |
State Street SPDR S&P Biotech ETF
XBI
|
+$82.9M |
| 5 |
SVA
Sinovac Biotech, Ltd
SVA
|
+$72.7M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 97.72% |
| 2 | Miscellaneous | 2.28% |
| 3 | Industrials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
DELISTED
SpringWorks Therapeutics
SWTX
| $340M | 5.52% |
6,028,307
| – | – |
2019 Q3
10 quarters
|
|
|
HZNP
2
DELISTED
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
| $231M | 3.75% |
2,196,555
-303,500
| -12% | -$29.6M |
2019 Q4
9 quarters
|
|
3
Boston Scientific
BSX
$61B
| $204M | 3.3% |
4,599,500
-952,800
| -17% | -$41.3M |
2014 Q1
32 quarters
|
|
|
4
Pfizer
PFE
$174B
| $202M | 3.28% |
3,905,500
+1,290,100
| +49% | +$66.9M |
2021 Q4
1 quarter
|
|
|
THRX
5
DELISTED
Theseus Pharmaceuticals, Inc. Common Stock
THRX
| $196M | 3.19% |
17,041,668
+203,000
| +1% | +$2.17M |
2021 Q4
1 quarter
|
|
|
6
Bristol-Myers Squibb
BMY
$129B
| $190M | 3.09% |
2,607,700
-1,732,100
| -40% | -$116M |
2019 Q4
9 quarters
|
|
7
Humana
HUM
$49.4B
| $166M | 2.69% |
381,700
+63,400
| +20% | +$26.5M |
2019 Q3
10 quarters
|
|
8
Intuitive Surgical
ISRG
$154B
| $161M | 2.61% |
534,200
+160,400
| +43% | +$46.9M |
2013 Q4
33 quarters
|
|
9
UnitedHealth
UNH
$368B
| $150M | 2.43% |
294,200
+23,200
| +9% | +$11.2M |
2020 Q4
5 quarters
|
|
10
Adicet Bio
ACET
$32M
| $149M | 2.41% |
465,446
| – | – |
2018 Q1
16 quarters
|
|
11
AbbVie
ABBV
$522B
| $148M | 2.41% |
915,600
-153,200
| -14% | -$22.3M |
2020 Q1
8 quarters
|
|
12
PMV Pharmaceuticals
PMVP
$68.4M
| $143M | 2.31% |
6,855,423
-475,000
| -6% | -$8.38M |
2020 Q3
6 quarters
|
|
13
Edgewise Therapeutics
EWTX
$4.15B
| $135M | 2.19% |
13,944,680
| – | – |
2021 Q1
4 quarters
|
|
|
MRTX
14
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $134M | 2.17% |
1,630,500
+204,100
| +14% | +$20.9M |
2019 Q3
10 quarters
|
|
|
15
BioMarin Pharmaceuticals
BMRN
$11.3B
| $127M | 2.06% |
1,647,030
+786,150
| +91% | +$65.8M |
2021 Q3
2 quarters
|
|
16
Edwards Lifesciences
EW
$53.4B
| $124M | 2.01% |
1,051,300
-24,900
| -2% | -$2.79M |
2016 Q1
24 quarters
|
|
17
Stryker
SYK
$113B
| $122M | 1.98% |
457,100
-8,200
| -2% | -$2.12M |
2020 Q3
6 quarters
|
|
18
Arcutis Biotherapeutics
ARQT
$4B
| $117M | 1.9% |
6,073,850
| – | – |
2020 Q1
8 quarters
|
|
19
Iovance Biotherapeutics
IOVA
$3.91B
| $110M | 1.79% |
6,633,006
+295,306
| +5% | +$4.57M |
2015 Q1
28 quarters
|
|
20
Vertex Pharmaceuticals
VRTX
$142B
| $104M | 1.69% |
400,200
-257,900
| -39% | -$61.2M |
2013 Q2
35 quarters
|
|
|
SGEN
21
DELISTED
Seagen Inc. Common Stock
SGEN
| $96.2M | 1.56% |
667,700
+12,100
| +2% | +$1.64M |
2021 Q3
2 quarters
|
|
22
Keros Therapeutics
KROS
$221M
| $91.3M | 1.48% |
1,679,417
| – | – |
2020 Q2
7 quarters
|
|
23
Guardant Health
GH
$23.9B
| $87.8M | 1.42% |
1,325,400
+98,000
| +8% | +$6.71M |
2020 Q3
6 quarters
|
|
|
24
DELISTED
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
| $85.3M | 1.38% |
+719,034
| New | +$89.7M |
2022 Q1
0 quarters
|
|
|
TCDA
25
DELISTED
Tricida, Inc. Common Stock
TCDA
| $84.5M | 1.37% |
10,280,947
| – | – |
2018 Q2
15 quarters
|
|
Similar funds
OrbiMed's Q1 2022 Portfolio in Review
As of Q1 2022, OrbiMed held 171 positions worth $6.17B, down 21% from $7.78B the previous quarter. Its ten largest holdings account for 32% of the portfolio.
OrbiMed withdrew a net $483M in Q1 2022, closing 28 positions and reducing 25 holdings. Its most notable exit was Merck, an estimated $136M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 98% of assets, up from 96% a quarter earlier, followed by Miscellaneous and Industrials.
Against the trend, OrbiMed opened a new position in Biohaven Pharmaceutical Holding Company Ltd. worth $85.3M.
- OrbiMed's largest Q1 2022 buy was Biohaven Pharmaceutical Holding Company Ltd.: 719,034 shares worth $85.3M.
- OrbiMed added most to Pfizer in Q1 2022, an estimated $66.9M increase.
- OrbiMed's biggest Q1 2022 reduction was Bristol-Myers Squibb, cutting an estimated $116M.
- OrbiMed fully exited Merck in Q1 2022, selling an estimated $136M.
- OrbiMed's ten largest holdings make up 32% of its $6.17B portfolio in Q1 2022.
- OrbiMed opened 12 new positions and closed 28 in Q1 2022.
- OrbiMed's portfolio value fell 21% quarter-over-quarter to $6.17B.
Based on OrbiMed's 13F filing for Q1 2022, filed 16 May 2022.