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 |
Third Harmonic Bio
THRD
|
+$104M |
| 2 |
Sarepta Therapeutics
SRPT
|
+$90.6M |
| 3 |
Thermo Fisher Scientific
TMO
|
+$49.7M |
| 4 |
Alnylam Pharmaceuticals
ALNY
|
+$47.8M |
| 5 |
BLU
BELLUS Health Inc.
BLU
|
+$33.8M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
|
+$168M |
| 2 |
TPTX
Turning Point Therapeutics, Inc. Common Stock
TPTX
|
+$151M |
| 3 |
SRRA
Sierra Oncology, Inc. Common Stock
SRRA
|
+$108M |
| 4 |
Biohaven Pharmaceutical Holding Company Ltd.
BHVN
|
+$81.3M |
| 5 |
GBT
Global Blood Therapeutics, Inc.
GBT
|
+$65.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 98.05% |
| 2 | Miscellaneous | 1.95% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
SVA
1
DELISTED
Sinovac Biotech, Ltd
SVA
| $340M | 6.32% |
2,718,735
| – | – |
2022 Q2
1 quarter
|
|
2
Bristol-Myers Squibb
BMY
$128B
| $184M | 3.41% |
2,584,900
+66,200
| +3% | +$4.8M |
2019 Q4
11 quarters
|
|
3
Humana
HUM
$49.3B
| $169M | 3.14% |
348,700
-17,000
| -5% | -$8.27M |
2019 Q3
12 quarters
|
|
4
DELISTED
SpringWorks Therapeutics
SWTX
| $158M | 2.93% |
5,525,926
-502,381
| -8% | -$14.4M |
2019 Q3
12 quarters
|
|
5
Boston Scientific
BSX
$60.8B
| $151M | 2.8% |
3,898,200
-471,300
| -11% | -$18.9M |
2014 Q1
34 quarters
|
|
6
BioMarin Pharmaceuticals
BMRN
$11.3B
| $146M | 2.7% |
1,717,310
+17,600
| +1% | +$1.57M |
2021 Q3
4 quarters
|
|
7
Edgewise Therapeutics
EWTX
$4.16B
| $143M | 2.66% |
14,567,176
+484,496
| +3% | +$4.9M |
2021 Q1
6 quarters
|
|
8
UnitedHealth
UNH
$365B
| $135M | 2.51% |
267,200
-14,000
| -5% | -$7.36M |
2020 Q4
7 quarters
|
|
9
Pfizer
PFE
$174B
| $114M | 2.11% |
2,599,000
-145,000
| -5% | -$7.05M |
2021 Q4
3 quarters
|
|
|
10
DELISTED
Third Harmonic Bio
THRD
| $110M | 2.04% |
+5,779,071
| New | +$104M |
2022 Q3
0 quarters
|
|
11
Vertex Pharmaceuticals
VRTX
$142B
| $108M | 2.01% |
373,200
-14,000
| -4% | -$4.03M |
2013 Q2
37 quarters
|
|
|
TCDA
12
DELISTED
Tricida, Inc. Common Stock
TCDA
| $108M | 2% |
10,280,947
| – | – |
2018 Q2
17 quarters
|
|
13
Intuitive Surgical
ISRG
$153B
| $107M | 1.99% |
572,700
+55,500
| +11% | +$11.9M |
2013 Q4
35 quarters
|
|
14
Adicet Bio
ACET
$31.5M
| $106M | 1.97% |
465,446
| – | – |
2018 Q1
18 quarters
|
|
|
SGEN
15
DELISTED
Seagen Inc. Common Stock
SGEN
| $104M | 1.94% |
762,600
+75,100
| +11% | +$12.2M |
2021 Q3
4 quarters
|
|
|
16
Thermo Fisher Scientific
TMO
$256B
| $103M | 1.9% |
202,200
+88,800
| +78% | +$49.7M |
2013 Q2
37 quarters
|
|
|
17
Sarepta Therapeutics
SRPT
$1.96B
| $102M | 1.88% |
918,500
+898,500
| +4,493% | +$90.6M |
2017 Q4
19 quarters
|
|
|
MRTX
18
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $99.1M | 1.84% |
1,418,892
+328,492
| +30% | +$24.3M |
2019 Q3
12 quarters
|
|
|
THRX
19
DELISTED
Theseus Pharmaceuticals, Inc. Common Stock
THRX
| $98.8M | 1.83% |
17,041,668
| – | – |
2021 Q4
3 quarters
|
|
20
Neurocrine Biosciences
NBIX
$14.9B
| $95.2M | 1.77% |
896,545
+47,000
| +6% | +$4.77M |
2018 Q1
18 quarters
|
|
21
argenx
ARGX
$56.3B
| $95.2M | 1.77% |
269,700
+75,700
| +39% | +$28M |
2022 Q1
2 quarters
|
|
22
Stryker
SYK
$113B
| $85.7M | 1.59% |
423,100
-18,000
| -4% | -$3.79M |
2020 Q3
8 quarters
|
|
23
AbbVie
ABBV
$520B
| $80.5M | 1.49% |
600,000
-199,800
| -25% | -$28.7M |
2020 Q1
10 quarters
|
|
24
Edwards Lifesciences
EW
$53.3B
| $79.8M | 1.48% |
966,300
-45,000
| -4% | -$4.33M |
2016 Q1
26 quarters
|
|
25
PMV Pharmaceuticals
PMVP
$68.4M
| $78.1M | 1.45% |
6,563,077
| – | – |
2020 Q3
8 quarters
|
|
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OrbiMed's Q3 2022 Portfolio in Review
As of Q3 2022, OrbiMed held 156 positions worth $5.39B, down 2.4% from $5.52B the previous quarter. Its ten largest holdings account for 31% of the portfolio.
OrbiMed withdrew a net $296M in Q3 2022, closing 25 positions and reducing 31 holdings. Its most notable exit was Horizon Therapeutics Public Limited Company Ordinary Shares, an estimated $168M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 98% of assets, up from 98% a quarter earlier, followed by Miscellaneous.
Against the trend, OrbiMed opened a new position in Third Harmonic Bio worth $110M.
- OrbiMed's largest Q3 2022 buy was Third Harmonic Bio: 5,779,071 shares worth $110M.
- OrbiMed added most to Sarepta Therapeutics in Q3 2022, an estimated $90.6M increase.
- OrbiMed's biggest Q3 2022 reduction was Biohaven Pharmaceutical Holding Company Ltd., cutting an estimated $81.3M.
- OrbiMed fully exited Horizon Therapeutics Public Limited Company Ordinary Shares in Q3 2022, selling an estimated $168M.
- OrbiMed's ten largest holdings make up 31% of its $5.39B portfolio in Q3 2022.
- OrbiMed opened 15 new positions and closed 25 in Q3 2022.
- OrbiMed's portfolio value fell 2.4% quarter-over-quarter to $5.39B.
Based on OrbiMed's 13F filing for Q3 2022, filed 14 Nov 2022.