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 |
Merck
MRK
|
+$114M |
| 2 |
Apollomics
APLM
|
+$84.7M |
| 3 |
RayzeBio, Inc. Common Stock
RYZB
|
+$55.1M |
| 4 |
AbbVie
ABBV
|
+$48.4M |
| 5 |
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
|
+$37.3M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Bristol-Myers Squibb
BMY
|
+$95.2M |
| 2 |
VECT
VectivBio Holding AG Ordinary Shares
VECT
|
+$87.7M |
| 3 |
UnitedHealth
UNH
|
+$85.6M |
| 4 |
Edwards Lifesciences
EW
|
+$48.6M |
| 5 |
Baxter International
BAX
|
+$48.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 96.83% |
| 2 | Miscellaneous | 1.94% |
| 3 | Industrials | 1.1% |
| 4 | Consumer Staples | 0.13% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
SVA
1
DELISTED
Sinovac Biotech, Ltd
SVA
| $340M | 7.22% |
2,718,735
| – | – |
2022 Q2
5 quarters
|
|
2
Boston Scientific
BSX
$60.8B
| $175M | 3.71% |
3,306,800
-73,100
| -2% | -$3.83M |
2014 Q1
38 quarters
|
|
3
Humana
HUM
$49.3B
| $167M | 3.54% |
342,500
-6,200
| -2% | -$2.91M |
2019 Q3
16 quarters
|
|
4
Intuitive Surgical
ISRG
$153B
| $146M | 3.1% |
499,000
-121,500
| -20% | -$37.9M |
2013 Q4
39 quarters
|
|
5
Biogen
BIIB
$37.3B
| $143M | 3.04% |
556,800
| – | – |
2013 Q2
41 quarters
|
|
6
BioMarin Pharmaceuticals
BMRN
$11.3B
| $143M | 3.04% |
1,615,210
| – | – |
2021 Q3
8 quarters
|
|
7
Enliven Therapeutics
ELVN
$3.25B
| $123M | 2.61% |
8,998,338
| – | – |
2020 Q1
14 quarters
|
|
|
8
Merck
MRK
$369B
| $109M | 2.31% |
+1,055,000
| New | +$114M |
2023 Q3
0 quarters
|
|
9
Disc Medicine
IRON
$3.56B
| $107M | 2.27% |
2,269,637
| – | – |
2021 Q1
10 quarters
|
|
10
Eli Lilly
LLY
$1.26T
| $100M | 2.12% |
186,000
| – | – |
2023 Q1
2 quarters
|
|
11
Ionis Pharmaceuticals
IONS
$7.23B
| $98.4M | 2.09% |
2,169,500
| – | – |
2022 Q2
5 quarters
|
|
12
DELISTED
SpringWorks Therapeutics
SWTX
| $91.8M | 1.95% |
3,968,588
-210,000
| -5% | -$5.74M |
2019 Q3
16 quarters
|
|
13
United Therapeutics
UTHR
$25.8B
| $90.8M | 1.93% |
401,900
| – | – |
2023 Q2
1 quarter
|
|
14
DELISTED
Crinetics Pharmaceuticals
CRNX
| $86.1M | 1.83% |
2,896,074
-1,054,722
| -27% | -$21.7M |
2018 Q3
20 quarters
|
|
|
MRTX
15
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
| $85.3M | 1.81% |
1,959,050
+1,045,400
| +114% | +$37.3M |
2019 Q3
16 quarters
|
|
|
16
Baxter International
BAX
$11.8B
| $84.5M | 1.8% |
2,239,900
-1,135,100
| -34% | -$48.4M |
2023 Q1
2 quarters
|
|
17
Edgewise Therapeutics
EWTX
$4.16B
| $83.5M | 1.77% |
14,567,176
| – | – |
2021 Q1
10 quarters
|
|
18
Tenet Healthcare
THC
$21.8B
| $80.7M | 1.71% |
1,224,400
+263,900
| +27% | +$19.7M |
2021 Q3
8 quarters
|
|
19
Xtant Medical Holdings
XTNT
$39.3M
| $80.4M | 1.71% |
73,114,592
| – | – |
2013 Q2
41 quarters
|
|
20
Evolent Health
EVH
$475M
| $78.8M | 1.67% |
2,895,632
| – | – |
2021 Q3
8 quarters
|
|
21
Stryker
SYK
$113B
| $73.5M | 1.56% |
269,000
-2,400
| -0.9% | -$688K |
2020 Q3
12 quarters
|
|
22
Thermo Fisher Scientific
TMO
$256B
| $72.8M | 1.55% |
143,800
-19,000
| -12% | -$10.1M |
2013 Q2
41 quarters
|
|
|
23
Apollomics
APLM
$60.3M
| $67.4M | 1.43% |
179,936
+173,310
| +2,616% | +$84.7M |
2023 Q1
2 quarters
|
|
24
Cigna
CI
$78.7B
| $66.2M | 1.41% |
231,500
+70,500
| +44% | +$20.1M |
2023 Q2
1 quarter
|
|
25
Sarepta Therapeutics
SRPT
$1.96B
| $64.1M | 1.36% |
529,200
-124,800
| -19% | -$14.1M |
2017 Q4
23 quarters
|
|
Similar funds
OrbiMed's Q3 2023 Portfolio in Review
As of Q3 2023, OrbiMed held 146 positions worth $4.71B, down 15% from $5.52B the previous quarter. Its ten largest holdings account for 33% of the portfolio.
OrbiMed's Q3 2023 filing shows 21 new, 16 increased, 26 reduced and 19 closed positions. Its largest new stake was Merck: 1,055,000 shares worth $109M. The largest sale was Bristol-Myers Squibb, an estimated $95.2M.
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 Q3 2023 buy was Merck: 1,055,000 shares worth $109M.
- OrbiMed added most to Apollomics in Q3 2023, an estimated $84.7M increase.
- OrbiMed's biggest Q3 2023 reduction was UnitedHealth, cutting an estimated $85.6M.
- OrbiMed fully exited Bristol-Myers Squibb in Q3 2023, selling an estimated $95.2M.
- OrbiMed's ten largest holdings make up 33% of its $4.71B portfolio in Q3 2023.
- OrbiMed opened 21 new positions and closed 19 in Q3 2023.
- OrbiMed's portfolio value fell 15% quarter-over-quarter to $4.71B.
Based on OrbiMed's 13F filing for Q3 2023, filed 14 Nov 2023.