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 |
ACELYRIN
SLRN
|
+$109M |
| 2 |
United Therapeutics
UTHR
|
+$89M |
| 3 |
Madrigal Pharmaceuticals
MDGL
|
+$87.1M |
| 4 |
Baxter International
BAX
|
+$79M |
| 5 |
Cigna
CI
|
+$41.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bristol-Myers Squibb
BMY
|
+$57.1M |
| 2 |
KDNY
Chinook Therapeutics, Inc. Common Stock
KDNY
|
+$47M |
| 3 |
BLU
BELLUS Health Inc.
BLU
|
+$36.8M |
| 4 |
Progyny
PGNY
|
+$33.3M |
| 5 |
Stryker
SYK
|
+$27.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 96.75% |
| 2 | Miscellaneous | 2.1% |
| 3 | Industrials | 1.15% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
SVA
1
DELISTED
Sinovac Biotech, Ltd
SVA
| $340M | 6.16% |
2,718,735
| – | – |
2022 Q2
4 quarters
|
|
2
Intuitive Surgical
ISRG
$153B
| $212M | 3.84% |
620,500
| – | – |
2013 Q4
38 quarters
|
|
3
Enliven Therapeutics
ELVN
$3.25B
| $184M | 3.33% |
8,998,338
+2,125
| +0% | +$42.9K |
2020 Q1
13 quarters
|
|
4
Boston Scientific
BSX
$60.8B
| $183M | 3.31% |
3,379,900
-410,100
| -11% | -$21.4M |
2014 Q1
37 quarters
|
|
|
THRX
5
DELISTED
Theseus Pharmaceuticals, Inc. Common Stock
THRX
| $161M | 2.91% |
17,233,668
| – | – |
2021 Q4
6 quarters
|
|
6
Biogen
BIIB
$37.4B
| $159M | 2.87% |
556,800
+51,800
| +10% | +$15.4M |
2013 Q2
40 quarters
|
|
7
Humana
HUM
$49.3B
| $156M | 2.83% |
348,700
| – | – |
2019 Q3
15 quarters
|
|
|
8
Baxter International
BAX
$11.8B
| $154M | 2.79% |
3,375,000
+1,813,000
| +116% | +$79M |
2023 Q1
1 quarter
|
|
9
BioMarin Pharmaceuticals
BMRN
$11.3B
| $140M | 2.54% |
1,615,210
| – | – |
2021 Q3
7 quarters
|
|
10
UnitedHealth
UNH
$365B
| $117M | 2.13% |
244,000
-32,000
| -12% | -$15.6M |
2020 Q4
10 quarters
|
|
11
Edgewise Therapeutics
EWTX
$4.16B
| $113M | 2.05% |
14,567,176
| – | – |
2021 Q1
9 quarters
|
|
|
12
DELISTED
ACELYRIN
SLRN
| $111M | 2.02% |
+5,326,302
| New | +$109M |
2023 Q2
0 quarters
|
|
13
DELISTED
SpringWorks Therapeutics
SWTX
| $110M | 1.99% |
4,178,588
-320,312
| -7% | -$8.42M |
2019 Q3
15 quarters
|
|
14
Disc Medicine
IRON
$3.56B
| $101M | 1.83% |
2,269,637
| – | – |
2021 Q1
9 quarters
|
|
|
15
Bristol-Myers Squibb
BMY
$128B
| $95.2M | 1.72% |
1,488,000
-852,000
| -36% | -$57.1M |
2019 Q4
14 quarters
|
|
16
Ionis Pharmaceuticals
IONS
$7.22B
| $89M | 1.61% |
2,169,500
+45,000
| +2% | +$1.73M |
2022 Q2
4 quarters
|
|
|
17
United Therapeutics
UTHR
$25.8B
| $88.7M | 1.61% |
+401,900
| New | +$89M |
2023 Q2
0 quarters
|
|
18
Evolent Health
EVH
$476M
| $87.7M | 1.59% |
2,895,632
| – | – |
2021 Q3
7 quarters
|
|
|
VECT
19
DELISTED
VectivBio Holding AG Ordinary Shares
VECT
| $87.7M | 1.59% |
5,156,561
| – | – |
2021 Q2
8 quarters
|
|
20
Eli Lilly
LLY
$1.26T
| $87.2M | 1.58% |
186,000
| – | – |
2023 Q1
1 quarter
|
|
21
Thermo Fisher Scientific
TMO
$256B
| $84.9M | 1.54% |
162,800
+15,000
| +10% | +$8.09M |
2013 Q2
40 quarters
|
|
22
DELISTED
Apellis Pharmaceuticals
APLS
| $82.9M | 1.5% |
910,200
| – | – |
2023 Q1
1 quarter
|
|
|
23
Stryker
SYK
$113B
| $82.8M | 1.5% |
271,400
-96,200
| -26% | -$27.8M |
2020 Q3
11 quarters
|
|
|
VRNA
24
DELISTED
Verona Pharma
VRNA
| $79.9M | 1.45% |
3,777,778
-482,913
| -11% | -$10.3M |
2017 Q2
24 quarters
|
|
25
Tenet Healthcare
THC
$21.9B
| $78.2M | 1.42% |
960,500
-259,800
| -21% | -$18.5M |
2021 Q3
7 quarters
|
|
Similar funds
OrbiMed's Q2 2023 Portfolio in Review
As of Q2 2023, OrbiMed held 141 positions worth $5.52B, up 8.3% from $5.09B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
OrbiMed's Q2 2023 filing shows 18 new, 27 increased, 28 reduced and 15 closed positions. Its largest new stake was ACELYRIN: 5,326,302 shares worth $111M. The largest sale was Bristol-Myers Squibb, an estimated $57.1M.
By sector, the portfolio is most concentrated in Healthcare at 97% of assets, up from 97% a quarter earlier, followed by Miscellaneous and Industrials.
- OrbiMed's largest Q2 2023 buy was ACELYRIN: 5,326,302 shares worth $111M.
- OrbiMed added most to Baxter International in Q2 2023, an estimated $79M increase.
- OrbiMed's biggest Q2 2023 reduction was Bristol-Myers Squibb, cutting an estimated $57.1M.
- OrbiMed fully exited Chinook Therapeutics, Inc. Common Stock in Q2 2023, selling an estimated $47M.
- OrbiMed's ten largest holdings make up 33% of its $5.52B portfolio in Q2 2023.
- OrbiMed opened 18 new positions and closed 15 in Q2 2023.
- OrbiMed's portfolio value rose 8.3% quarter-over-quarter to $5.52B.
Based on OrbiMed's 13F filing for Q2 2023, filed 14 Aug 2023.