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 |
Upstream Bio Inc
UPB
|
+$127M |
| 2 |
Edwards Lifesciences
EW
|
+$80.2M |
| 3 |
Neurocrine Biosciences
NBIX
|
+$78.7M |
| 4 |
Alnylam Pharmaceuticals
ALNY
|
+$43.5M |
| 5 |
Cytokinetics
CYTK
|
+$42.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Amgen
AMGN
|
+$81.3M |
| 2 |
Elevance Health
ELV
|
+$55.2M |
| 3 |
Biogen
BIIB
|
+$51.3M |
| 4 |
Merck
MRK
|
+$50.1M |
| 5 |
Regeneron Pharmaceuticals
REGN
|
+$47.5M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 98.01% |
| 2 | Miscellaneous | 1.99% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Edgewise Therapeutics
EWTX
$4.15B
| $401M | 8.25% |
15,021,721
| – | – |
2021 Q1
15 quarters
|
|
|
SVA
2
DELISTED
Sinovac Biotech, Ltd
SVA
| $334M | 6.87% |
2,718,735
| – | – |
2022 Q2
10 quarters
|
|
3
Boston Scientific
BSX
$61B
| $282M | 5.81% |
3,160,300
-112,700
| -3% | -$9.9M |
2014 Q1
43 quarters
|
|
4
Eli Lilly
LLY
$1.27T
| $261M | 5.36% |
337,600
| – | – |
2023 Q1
7 quarters
|
|
5
Intuitive Surgical
ISRG
$154B
| $210M | 4.31% |
401,700
-32,100
| -7% | -$16.7M |
2013 Q4
44 quarters
|
|
6
Enliven Therapeutics
ELVN
$3.28B
| $179M | 3.68% |
7,959,538
| – | – |
2020 Q1
19 quarters
|
|
|
7
Neurocrine Biosciences
NBIX
$15B
| $128M | 2.63% |
938,120
+635,900
| +210% | +$78.7M |
2018 Q1
27 quarters
|
|
8
Stryker
SYK
$113B
| $124M | 2.55% |
344,400
| – | – |
2020 Q3
17 quarters
|
|
9
Sarepta Therapeutics
SRPT
$1.96B
| $117M | 2.41% |
963,400
+8,900
| +0.9% | +$1.09M |
2017 Q4
28 quarters
|
|
10
argenx
ARGX
$56.6B
| $117M | 2.4% |
189,700
-14,800
| -7% | -$8.67M |
2022 Q1
11 quarters
|
|
11
Disc Medicine
IRON
$3.55B
| $113M | 2.33% |
1,785,571
| – | – |
2021 Q1
15 quarters
|
|
12
Tenet Healthcare
THC
$21.9B
| $100M | 2.06% |
792,000
+10,000
| +1% | +$1.49M |
2021 Q3
13 quarters
|
|
13
Ionis Pharmaceuticals
IONS
$7.24B
| $98.5M | 2.03% |
2,817,347
+492,900
| +21% | +$18.4M |
2022 Q2
10 quarters
|
|
|
14
Alnylam Pharmaceuticals
ALNY
$22.8B
| $97.8M | 2.01% |
415,600
+165,300
| +66% | +$43.5M |
2024 Q2
2 quarters
|
|
|
15
Upstream Bio Inc
UPB
$178M
| $93.6M | 1.93% |
+5,693,589
| New | +$127M |
2024 Q4
0 quarters
|
|
16
ARS Pharmaceuticals
SPRY
$338M
| $87.4M | 1.8% |
8,288,510
| – | – |
2020 Q4
16 quarters
|
|
|
17
Edwards Lifesciences
EW
$53.4B
| $84.8M | 1.74% |
+1,145,302
| New | +$80.2M |
2024 Q4
0 quarters
|
|
|
18
Merck
MRK
$371B
| $82.6M | 1.7% |
829,900
-486,100
| -37% | -$50.1M |
2023 Q3
5 quarters
|
|
19
ArriVent BioPharma
AVBP
$728M
| $80.6M | 1.66% |
3,027,328
| – | – |
2024 Q1
3 quarters
|
|
|
20
Biogen
BIIB
$37.5B
| $77.9M | 1.6% |
509,100
-303,900
| -37% | -$51.3M |
2013 Q2
46 quarters
|
|
21
Integer Holdings
ITGR
$4.3B
| $76.2M | 1.57% |
575,000
| – | – |
2024 Q2
2 quarters
|
|
|
22
Cytokinetics
CYTK
$8.79B
| $74.5M | 1.53% |
1,584,005
+817,099
| +107% | +$42.4M |
2024 Q1
3 quarters
|
|
23
MBX Biosciences
MBX
$2.71B
| $70.3M | 1.45% |
3,812,215
| – | – |
2024 Q3
1 quarter
|
|
24
UnitedHealth
UNH
$368B
| $66.2M | 1.36% |
130,900
-48,100
| -27% | -$27.3M |
2020 Q4
16 quarters
|
|
25
Natera
NTRA
$59.3B
| $65.4M | 1.34% |
413,000
-274,500
| -40% | -$40M |
2015 Q3
37 quarters
|
|
Similar funds
OrbiMed's Q4 2024 Portfolio in Review
As of Q4 2024, OrbiMed held 142 positions worth $4.86B, down 12% from $5.5B the previous quarter. Its ten largest holdings account for 44% of the portfolio.
OrbiMed's Q4 2024 filing shows 24 new, 23 increased, 21 reduced and 24 closed positions. Its largest new stake was Upstream Bio Inc: 5,693,589 shares worth $93.6M. The largest sale was Amgen, an estimated $81.3M.
By sector, the portfolio is most concentrated in Healthcare at 98% of assets, down from 99% a quarter earlier, followed by Miscellaneous.
- OrbiMed's largest Q4 2024 buy was Upstream Bio Inc: 5,693,589 shares worth $93.6M.
- OrbiMed added most to Neurocrine Biosciences in Q4 2024, an estimated $78.7M increase.
- OrbiMed's biggest Q4 2024 reduction was Biogen, cutting an estimated $51.3M.
- OrbiMed fully exited Amgen in Q4 2024, selling an estimated $81.3M.
- OrbiMed's ten largest holdings make up 44% of its $4.86B portfolio in Q4 2024.
- OrbiMed opened 24 new positions and closed 24 in Q4 2024.
- OrbiMed's portfolio value fell 12% quarter-over-quarter to $4.86B.
Based on OrbiMed's 13F filing for Q4 2024, filed 14 Feb 2025.