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 |
Pfizer
PFE
|
+$101M |
| 2 |
Sionna Therapeutics
SION
|
+$60.5M |
| 3 |
Axsome Therapeutics
AXSM
|
+$44.1M |
| 4 |
Apellis Pharmaceuticals
APLS
|
+$39.6M |
| 5 |
UnitedHealth
UNH
|
+$35.9M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Sarepta Therapeutics
SRPT
|
+$117M |
| 2 |
Merck
MRK
|
+$82.6M |
| 3 |
Biogen
BIIB
|
+$77.9M |
| 4 |
Intuitive Surgical
ISRG
|
+$61.2M |
| 5 |
Universal Health Services
UHS
|
+$48.3M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 98.96% |
| 2 | Miscellaneous | 1.04% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
SVA
1
DELISTED
Sinovac Biotech, Ltd
SVA
| $334M | 7.96% |
2,718,735
| – | – |
2022 Q2
11 quarters
|
|
2
Edgewise Therapeutics
EWTX
$4.22B
| $330M | 7.88% |
15,021,721
| – | – |
2021 Q1
16 quarters
|
|
3
Boston Scientific
BSX
$60.8B
| $284M | 6.77% |
2,813,200
-347,100
| -11% | -$35M |
2014 Q1
44 quarters
|
|
4
Eli Lilly
LLY
$1.26T
| $279M | 6.65% |
337,600
| – | – |
2023 Q1
8 quarters
|
|
5
Enliven Therapeutics
ELVN
$3.24B
| $157M | 3.73% |
7,959,538
| – | – |
2020 Q1
20 quarters
|
|
|
6
Intuitive Surgical
ISRG
$153B
| $144M | 3.44% |
291,000
-110,700
| -28% | -$61.2M |
2013 Q4
45 quarters
|
|
7
Stryker
SYK
$112B
| $134M | 3.19% |
359,200
+14,800
| +4% | +$5.63M |
2020 Q3
18 quarters
|
|
8
argenx
ARGX
$56.1B
| $122M | 2.92% |
206,700
+17,000
| +9% | +$10.7M |
2022 Q1
12 quarters
|
|
9
Edwards Lifesciences
EW
$53B
| $111M | 2.65% |
1,532,000
+386,698
| +34% | +$27.7M |
2024 Q4
1 quarter
|
|
|
10
UnitedHealth
UNH
$365B
| $105M | 2.51% |
201,200
+70,300
| +54% | +$35.9M |
2020 Q4
17 quarters
|
|
11
ARS Pharmaceuticals
SPRY
$336M
| $104M | 2.49% |
8,288,510
| – | – |
2020 Q4
17 quarters
|
|
12
Neurocrine Biosciences
NBIX
$14.9B
| $103M | 2.46% |
934,640
-3,480
| -0.4% | -$441K |
2018 Q1
28 quarters
|
|
|
13
Pfizer
PFE
$174B
| $97.6M | 2.33% |
+3,850,200
| New | +$101M |
2025 Q1
0 quarters
|
|
14
Alnylam Pharmaceuticals
ALNY
$22.1B
| $93.5M | 2.23% |
346,100
-69,500
| -17% | -$17.9M |
2024 Q2
3 quarters
|
|
15
Integer Holdings
ITGR
$4.3B
| $78.2M | 1.86% |
662,500
+87,500
| +15% | +$11.5M |
2024 Q2
3 quarters
|
|
16
Vertex Pharmaceuticals
VRTX
$142B
| $77.5M | 1.85% |
159,900
+8,900
| +6% | +$4.15M |
2013 Q2
47 quarters
|
|
17
Natera
NTRA
$59.7B
| $77.4M | 1.84% |
547,000
+134,000
| +32% | +$21.5M |
2015 Q3
38 quarters
|
|
18
Ionis Pharmaceuticals
IONS
$7.23B
| $76.6M | 1.83% |
2,540,136
-277,211
| -10% | -$9.08M |
2022 Q2
11 quarters
|
|
19
Disc Medicine
IRON
$3.59B
| $70.2M | 1.67% |
1,415,020
-370,551
| -21% | -$20.6M |
2021 Q1
16 quarters
|
|
20
Thermo Fisher Scientific
TMO
$258B
| $64.2M | 1.53% |
129,000
+44,600
| +53% | +$24.2M |
2013 Q2
47 quarters
|
|
21
Tenet Healthcare
THC
$22B
| $62.5M | 1.49% |
465,000
-327,000
| -41% | -$43.1M |
2021 Q3
14 quarters
|
|
22
Cytokinetics
CYTK
$8.76B
| $60.7M | 1.45% |
1,509,205
-74,800
| -5% | -$3.44M |
2024 Q1
4 quarters
|
|
23
CG Oncology
CGON
$5.73B
| $60.5M | 1.44% |
2,471,994
+1,040,880
| +73% | +$29.3M |
2024 Q3
2 quarters
|
|
24
ArriVent BioPharma
AVBP
$733M
| $56M | 1.33% |
3,027,328
| – | – |
2024 Q1
4 quarters
|
|
|
RNAM
25
DELISTED
Avidity Biosciences
RNAM
| $53.5M | 1.28% |
1,812,886
+700,000
| +63% | +$21.8M |
2024 Q1
4 quarters
|
|
Similar funds
OrbiMed's Q1 2025 Portfolio in Review
As of Q1 2025, OrbiMed held 131 positions worth $4.19B, down 14% from $4.86B the previous quarter. Its ten largest holdings account for 48% of the portfolio.
OrbiMed withdrew a net $140M in Q1 2025, closing 21 positions and reducing 22 holdings. Its most notable exit was Sarepta Therapeutics, an estimated $117M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 99% of assets, up from 98% a quarter earlier, followed by Miscellaneous.
Against the trend, OrbiMed opened a new position in Pfizer worth $97.6M.
- OrbiMed's largest Q1 2025 buy was Pfizer: 3,850,200 shares worth $97.6M.
- OrbiMed added most to UnitedHealth in Q1 2025, an estimated $35.9M increase.
- OrbiMed's biggest Q1 2025 reduction was Intuitive Surgical, cutting an estimated $61.2M.
- OrbiMed fully exited Sarepta Therapeutics in Q1 2025, selling an estimated $117M.
- OrbiMed's ten largest holdings make up 48% of its $4.19B portfolio in Q1 2025.
- OrbiMed opened 13 new positions and closed 21 in Q1 2025.
- OrbiMed's portfolio value fell 14% quarter-over-quarter to $4.19B.
Based on OrbiMed's 13F filing for Q1 2025, filed 15 May 2025.