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 |
Enliven Therapeutics
ELVN
|
+$161M |
| 2 |
Biogen
BIIB
|
+$68.3M |
| 3 |
Baxter International
BAX
|
+$66.2M |
| 4 |
Eli Lilly
LLY
|
+$62.7M |
| 5 |
Apellis Pharmaceuticals
APLS
|
+$52.5M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
SGEN
Seagen Inc. Common Stock
SGEN
|
+$117M |
| 2 |
Pfizer
PFE
|
+$71.4M |
| 3 |
UnitedHealth
UNH
|
+$50.4M |
| 4 |
Natera
NTRA
|
+$46.7M |
| 5 |
89bio
ETNB
|
+$46.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 96.7% |
| 2 | Miscellaneous | 2.79% |
| 3 | Industrials | 0.52% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
SVA
1
DELISTED
Sinovac Biotech, Ltd
SVA
| $340M | 6.67% |
2,718,735
| – | – |
2022 Q2
3 quarters
|
|
|
2
Enliven Therapeutics
ELVN
$3.24B
| $197M | 3.87% |
8,996,213
+7,899,571
| +720% | +$161M |
2020 Q1
12 quarters
|
|
3
Boston Scientific
BSX
$60.8B
| $190M | 3.72% |
3,790,000
-108,200
| -3% | -$5.1M |
2014 Q1
36 quarters
|
|
4
Humana
HUM
$49.8B
| $169M | 3.32% |
348,700
| – | – |
2019 Q3
14 quarters
|
|
5
Bristol-Myers Squibb
BMY
$128B
| $162M | 3.18% |
2,340,000
-244,900
| -9% | -$17.3M |
2019 Q4
13 quarters
|
|
6
Intuitive Surgical
ISRG
$153B
| $159M | 3.11% |
620,500
| – | – |
2013 Q4
37 quarters
|
|
7
BioMarin Pharmaceuticals
BMRN
$11.3B
| $157M | 3.08% |
1,615,210
| – | – |
2021 Q3
6 quarters
|
|
|
THRX
8
DELISTED
Theseus Pharmaceuticals, Inc. Common Stock
THRX
| $153M | 3% |
17,233,668
| – | – |
2021 Q4
5 quarters
|
|
|
9
Biogen
BIIB
$37.5B
| $140M | 2.76% |
505,000
+246,800
| +96% | +$68.3M |
2013 Q2
39 quarters
|
|
|
10
UnitedHealth
UNH
$365B
| $130M | 2.56% |
276,000
-104,500
| -27% | -$50.4M |
2020 Q4
9 quarters
|
|
11
Sarepta Therapeutics
SRPT
$1.97B
| $119M | 2.34% |
865,100
-107,200
| -11% | -$13.9M |
2017 Q4
21 quarters
|
|
12
DELISTED
SpringWorks Therapeutics
SWTX
| $116M | 2.27% |
4,498,900
-751,100
| -14% | -$22M |
2019 Q3
14 quarters
|
|
13
Stryker
SYK
$112B
| $105M | 2.06% |
367,600
-113,400
| -24% | -$30.1M |
2020 Q3
10 quarters
|
|
14
Edgewise Therapeutics
EWTX
$4.22B
| $97.2M | 1.91% |
14,567,176
| – | – |
2021 Q1
8 quarters
|
|
15
Evolent Health
EVH
$486M
| $94M | 1.84% |
2,895,632
+70,800
| +3% | +$2.24M |
2021 Q3
6 quarters
|
|
16
DELISTED
Terns Pharmaceuticals
TERN
| $90.2M | 1.77% |
7,619,135
| – | – |
2021 Q1
8 quarters
|
|
|
VRNA
17
DELISTED
Verona Pharma
VRNA
| $85.6M | 1.68% |
4,260,691
-311,598
| -7% | -$6.73M |
2017 Q2
23 quarters
|
|
18
Thermo Fisher Scientific
TMO
$258B
| $85.2M | 1.67% |
147,800
-54,400
| -27% | -$30.7M |
2013 Q2
39 quarters
|
|
19
Ionis Pharmaceuticals
IONS
$7.23B
| $75.9M | 1.49% |
2,124,500
+130,900
| +7% | +$4.92M |
2022 Q2
3 quarters
|
|
20
Compass Therapeutics
CMPX
$142M
| $73.1M | 1.44% |
22,362,850
| – | – |
2021 Q4
5 quarters
|
|
21
Tenet Healthcare
THC
$22B
| $72.5M | 1.42% |
1,220,300
| – | – |
2021 Q3
6 quarters
|
|
22
Keros Therapeutics
KROS
$219M
| $71.7M | 1.41% |
1,679,417
| – | – |
2020 Q2
11 quarters
|
|
|
23
Eli Lilly
LLY
$1.26T
| $63.9M | 1.25% |
+186,000
| New | +$62.7M |
2023 Q1
0 quarters
|
|
24
DELISTED
Crinetics Pharmaceuticals
CRNX
| $63.4M | 1.25% |
3,950,796
+753,920
| +24% | +$14M |
2018 Q3
18 quarters
|
|
|
25
Baxter International
BAX
$11.9B
| $63.4M | 1.24% |
+1,562,000
| New | +$66.2M |
2023 Q1
0 quarters
|
|
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OrbiMed's Q1 2023 Portfolio in Review
As of Q1 2023, OrbiMed held 140 positions worth $5.09B, down 2.6% from $5.23B the previous quarter. Its ten largest holdings account for 35% of the portfolio.
OrbiMed's Q1 2023 filing shows 25 new, 26 increased, 29 reduced and 16 closed positions. Its largest new stake was Baxter International: 1,562,000 shares worth $63.4M. The largest sale was Seagen Inc. Common Stock, an estimated $117M.
By sector, the portfolio is most concentrated in Healthcare at 97% of assets, down from 98% a quarter earlier, followed by Miscellaneous and Industrials.
- OrbiMed's largest Q1 2023 buy was Baxter International: 1,562,000 shares worth $63.4M.
- OrbiMed added most to Enliven Therapeutics in Q1 2023, an estimated $161M increase.
- OrbiMed's biggest Q1 2023 reduction was UnitedHealth, cutting an estimated $50.4M.
- OrbiMed fully exited Seagen Inc. Common Stock in Q1 2023, selling an estimated $117M.
- OrbiMed's ten largest holdings make up 35% of its $5.09B portfolio in Q1 2023.
- OrbiMed opened 25 new positions and closed 16 in Q1 2023.
- OrbiMed's portfolio value fell 2.6% quarter-over-quarter to $5.09B.
Based on OrbiMed's 13F filing for Q1 2023, filed 15 May 2023.