OrbiMed Advisors Portfolio
13F Holdings & Position Changes — Last filed Feb 17, 2026
13F Holdings & Position Changes — Last filed Feb 17, 2026
One of the world's largest healthcare-dedicated investment firms, managing assets across public equity, private equity, royalties, and credit. OrbiMed's team of 100+ professionals includes physicians and PhDs covering all healthcare sub-sectors, with particular depth in biotech and pharma.
OrbiMed Advisors is a $19B biotech-focused hedge fund managed by Jonathan Silverstein (Executive Partner). As of their latest 13F filing (Q4 2025), the fund holds 98 positions worth $4.7B. This quarter they initiated 15 new positions and exited 103. Their largest holding is EWTX ($385.1M).
OrbiMed initiated 15 new positions and increased 24 this quarter. Portfolio grew +16.2% to $4.7B. 1000 upcoming catalysts across holdings. 3 insider buys detected in portfolio companies.
Portfolio Value (13F)
$4.7B
Holdings
98
Top 10 Concentration
42.2%
QoQ Change
+16.2%
Turnover
3.6%
Portfolio Value Trend
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| # | Ticker | Company | Change | Value | % of Portfolio | SI % Float ? | Trend |
|---|---|---|---|---|---|---|---|
| 1 | EWTX | Edgewise Therapeutics, Inc. | $385.1M | 8.21% | 13.3% | ||
| 2 | LLY | Eli Lilly & Co | $323.7M | 6.90% | 0.9% | ||
| 3 | BSXOther Healthcare | Boston Scientific Corp. | Decreased↓4Q | $230.7M | 4.92% | 1.7% | |
| 4 | SVA | Sinovac Biotech Ltd. | $184.5M | 3.93% | — | ||
| 5 | EWOther Healthcare | Edwards Lifesciences Corp. | Increased | $157.1M | 3.35% | 1.8% | |
| 6 | UPB | Upstream Bio, Inc. | $154.6M | 3.29% | 9.1% | ||
| 7 | ISRGOther Healthcare | Intuitive Surgical Inc. | Decreased↓5Q | $149.2M | 3.18% | 1.9% | |
| 8 | SION | Sionna Therapeutics, Inc. | Decreased | $146.5M | 3.12% | 15.2% | |
| 9 | MBX | MBX Biosciences, Inc. | Decreased | $124.1M | 2.65% | 11.9% | |
| 10 | ARGX | argenx SE | Decreased↓2Q | $122.8M | 2.62% | 3.3% |
Share changes reflect active decisions. Value changes include price moves.
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OrbiMed Advisors held 98 biotech stocks in their 13F portfolio this quarter. Their top positions include EWTX, LLY, BSX, SVA, EW. The full holdings table is available on BiotechEdge with position sizes, quarter-over-quarter changes, and AI analysis.
OrbiMed Advisors's tracked biotech portfolio is worth $4.7B across 98 positions, with total assets under management of approximately $19B. Portfolio values are based on 13F filings with the SEC.
OrbiMed Advisors initiated 15 new positions this quarter, including HELP, BRKRP, ESPR, LXEO, COGT and 10 more. They also increased 24 existing positions.
OrbiMed Advisors fully exited 103 positions this quarter, including SRPT, UTI, NTLA, MLTX, PRTO and 98 more. They also trimmed 36 existing positions.
One of the world's largest healthcare-dedicated investment firms, managing assets across public equity, private equity, royalties, and credit. OrbiMed's team of 100+ professionals includes physicians and PhDs covering all healthcare sub-sectors, with particular depth in biotech and pharma.
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Start 14-Day Free Trial| 4 | SVA | Sinovac Biotech Ltd. | 2,718,735 | $184.5M | 3.93% |
| 5 | EW | Edwards Lifesciences Corp. | Increased | 1,842,900 | $157.1M | 3.35% |
| 6 | UPB | Upstream Bio, Inc. | 5,693,589 | $154.6M | 3.29% |
| 7 | ISRG | Intuitive Surgical Inc. | Decreased | 263,400 | $149.2M | 3.18% |
| 8 | SION | Sionna Therapeutics, Inc. | Decreased | 3,561,655 | $146.5M | 3.12% |
| 9 | MBX | MBX Biosciences, Inc. | Decreased | 3,935,203 | $124.1M | 2.65% |
| 10 | ARGX | argenx SE | Decreased | 146,000 | $122.8M | 2.62% |
| 11 | ELVN | Enliven Therapeutics, Inc. | 7,959,538 | $122.6M | 2.61% |
| 12 | ALNY | Alnylam Pharmaceuticals Inc. | Decreased | 288,800 | $114.8M | 2.45% |
| 13 | SYK | Stryker Corp. | Decreased | 325,000 | $114.2M | 2.43% |
| 14 | SPRY | ARS Pharmaceuticals, Inc. | 8,288,510 | $96.6M | 2.06% |
| 15 | TERN | Terns Pharmaceuticals Inc. | Decreased | 2,153,300 | $87.0M | 1.85% |
| 16 | IRON | Disc Medicine Inc. | Decreased | 1,067,550 | $84.8M | 1.81% |
| 17 | CAI | Caris Life Sciences, Inc. | Increased | 3,116,011 | $84.1M | 1.79% |
| 18 | NTRA | Natera Inc. | Decreased | 365,800 | $83.8M | 1.79% |
| 19 | CMPS | COMPASS Pathways plc | 15,219,994 | $81.7M | 1.74% |
| 20 | GPCR | Structure Therapeutics Inc. | Increased | 1,161,803 | $80.8M | 1.72% |
| 21 | CGON | CG Oncology, Inc. | Decreased | 1,516,550 | $63.0M | 1.34% |
| 22 | APLS | Apellis Pharmaceuticals Inc. | Increased | 2,429,868 | $61.0M | 1.30% |
| 23 | AVBP | ArriVent BioPharma, Inc. | 3,027,328 | $60.9M | 1.30% |
| 24 | CI | Cigna Group | Increased | 205,000 | $56.4M | 1.20% |
| 25 | CRVS | Corvus Pharmaceuticals Inc. | 7,165,006 | $55.2M | 1.18% |
| 26 | UTHR | United Therapeutics Corporation | Decreased | 105,200 | $51.3M | 1.09% |
| 27 | AAVXF | Abivax S.A. | Decreased | 367,900 | $49.6M | 1.06% |
| 28 | ROIV | Roivant Sciences Ltd. | Decreased | 2,190,907 | $47.5M | 1.01% |
| 29 | CRNX | Crinetics Pharmaceuticals Inc. | Decreased | 999,000 | $46.5M | 0.99% |
| 30 | AXSM | Axsome Therapeutics Inc. | Decreased | 253,121 | $46.2M | 0.99% |
| 31 | EYPT | EyePoint, Inc. | Increased | 2,468,314 | $45.1M | 0.96% |
| 32 | RNA | Avidity Biosciences Inc. | Decreased | 619,530 | $44.7M | 0.95% |
| 33 | NBIX | Neurocrine Biosciences Inc. | Decreased | 314,240 | $44.6M | 0.95% |
| 34 | DYN | Dyne Therapeutics Inc. | Decreased | 2,202,184 | $43.1M | 0.92% |
| 35 | PFE | Pfizer Inc. | Increased | 1,652,900 | $41.2M | 0.88% |
| 36 | TRVI | Trevi Therapeutics, Inc. | Decreased | 3,190,700 | $39.9M | 0.85% |
| 37 | NPCE | NeuroPace Inc. | Decreased | 2,406,335 | $37.2M | 0.79% |
| 38 | ASND | Ascendis Pharma A/S | Decreased | 171,977 | $36.7M | 0.78% |
| 39 | EXAS | Exact Sciences Corporation | Decreased | 351,716 | $35.7M | 0.76% |
| 40 | MLYS | Mineralys Therapeutics, Inc. | Decreased | 980,400 | $35.6M | 0.76% |
| 41 | ELV | Elevance Health, Inc. | Increased | 99,100 | $34.7M | 0.74% |
| 42 | VNTXF | Forte Group Holdings Inc. | 1,196,955 | $32.6M | 0.70% |
| 43 | PRLD | Prelude Therapeutics Inc. | 10,909,256 | $31.6M | 0.67% |
| 44 | HELP | Cybin Inc. | New | 3,840,500 | $31.4M | 0.67% | — |
| 45 | ORIC | ORIC Pharmaceuticals Inc. | 3,641,756 | $29.8M | 0.63% |
| 46 | KRYS | Krystal Biotech Inc. | Increased | 119,800 | $29.5M | 0.63% |
| 47 | PRAX | Praxis Precision Medicines, Inc. | Increased | 94,500 | $27.9M | 0.59% | — |
| 48 | JANX | Janux Therapeutics Inc. | Increased | 1,954,426 | $27.0M | 0.57% |
| 49 | TMO | Thermo Fisher Scientific Inc. | 46,500 | $26.9M | 0.57% |
| 50 | BRKRP | Bruker Corp. | New | 555,789 | $26.2M | 0.56% | — |
| 51 | RYTM | Rhythm Pharmaceuticals Inc. | Increased | 239,800 | $25.7M | 0.55% |
| 52 | STTK | Shattuck Labs, Inc. | 6,306,127 | $23.0M | 0.49% |
| 53 | IMA | ImageneBio, Inc. | 6,589,455 | $22.7M | 0.48% |
| 54 | ESPR | Esperion Therapeutics, Inc. | New | 5,965,498 | $22.1M | 0.47% | — |
| 55 | AVTX | Avalo Therapeutics, Inc. | Decreased | 1,187,300 | $21.6M | 0.46% |
| 56 | LXEO | Lexeo Therapeutics, Inc. | New | 2,125,000 | $21.1M | 0.45% | — |
| 57 | ADCT | ADC Therapeutics SA | Decreased | 5,822,854 | $20.6M | 0.44% |
| 58 | URGN | UroGen Pharma Ltd. | Increased | 875,487 | $20.5M | 0.44% |
| 59 | XENE | Xenon Pharmaceuticals Inc. | Increased | 447,200 | $20.0M | 0.43% |
| 60 | VERA | Vera Therapeutics Inc. | Increased | 353,500 | $17.9M | 0.38% |
| 61 | QURE | uniQure N.V. | Increased | 737,400 | $17.6M | 0.38% |
| 62 | MNMD | Mind Medicine Inc. | Increased | 1,226,700 | $16.4M | 0.35% |
| 63 | KROS | Keros Therapeutics Inc. | Decreased | 804,212 | $16.4M | 0.35% |
| 64 | CARL | Carlsmed, Inc. | 1,252,600 | $15.5M | 0.33% |
| 65 | CTMX | CytomX Therapeutics Inc. | Decreased | 3,525,650 | $15.0M | 0.32% |
| 66 | VIR | Vir Biotechnology, Inc. | 2,380,715 | $14.4M | 0.31% |
| 67 | BCRX | Biocryst Pharmaceuticals Inc. | Increased | 1,741,800 | $13.6M | 0.29% |
| 68 | COGT | Cogent Biosciences Inc. | New | 371,000 | $13.2M | 0.28% | — |
| 69 | CRBP | Corbus Pharmaceuticals Holdings, Inc. | Increased | 1,597,287 | $13.0M | 0.28% |
| 70 | TARS | Tarsus Pharmaceuticals Inc. | Decreased | 154,400 | $12.6M | 0.27% |
| 71 | RLMD | Relmada Therapeutics, Inc. | New | 2,610,600 | $12.6M | 0.27% | — |
| 72 | TECX | Tectonic Therapeutic, Inc. | New | 574,600 | $12.0M | 0.26% | — |
| 73 | ALMS | Alumis Inc. | Decreased | 1,102,730 | $10.8M | 0.23% |
| 74 | BIOA | BioAge Labs, Inc. | 790,901 | $10.5M | 0.22% |
| 75 | FOLD | Amicus Therapeutics Inc. | Decreased | 729,900 | $10.4M | 0.22% |
| 76 | WHWK | Whitehawk Therapeutics, Inc. | 4,166,000 | $10.1M | 0.21% |
| 77 | ACET | Adicet Bio, Inc. | Decreased | 1,027,944 | $8.7M | 0.18% |
| 78 | CELC | Celcuity Inc. | Increased | 85,664 | $8.5M | 0.18% |
| 79 | JBIO | Jade Biosciences, Inc. | 531,163 | $8.2M | 0.17% |
| 80 | KNSA | Kiniksa Pharmaceuticals International, plc | New | 187,199 | $7.7M | 0.16% | — |
| 81 | QTTB | Q32 Bio Inc. | 2,252,987 | $7.5M | 0.16% |
| 82 | PMVP | PMV Pharmaceuticals, Inc. | Decreased | 4,975,291 | $6.2M | 0.13% |
| 83 | KALV | KalVista Pharmaceuticals, Inc. | New | 382,400 | $6.2M | 0.13% | — |
| 84 | PHVS | Pharvaris N.V. | New | 205,400 | $5.7M | 0.12% | — |
| 85 | NSPR | InspireMD, Inc. | Increased | 3,133,405 | $5.6M | 0.12% |
| 86 | INSM | Insmed Incorporated | Increased | 25,400 | $4.4M | 0.09% |
| 87 | PALI | Palisade Bio, Inc. | New | 1,871,420 | $4.4M | 0.09% | — |
| 88 | BCAX | Bicara Therapeutics Inc. | Increased | 209,100 | $3.5M | 0.07% |
| 89 | CGEM | Cullinan Therapeutics, Inc. | Decreased | 270,006 | $2.8M | 0.06% |
| 90 | CCCC | C4 Therapeutics Inc. | Decreased | 1,404,902 | $2.7M | 0.06% |
| 91 | ANRO | Alto Neuroscience, Inc. | Decreased | 125,000 | $2.2M | 0.05% |
| 92 | RVMD | Revolution Medicines Inc. | New | 25,900 | $2.1M | 0.04% | — |
| 93 | VTGN | Vistagen Therapeutics, Inc. | 3,060,000 | $2.0M | 0.04% |
| 94 | OCUL | Ocular Therapeutix Inc. | New | 157,300 | $1.9M | 0.04% | — |
| 95 | PTGX | Protagonist Therapeutics Inc. | Increased | 21,700 | $1.9M | 0.04% | — |
| 96 | PTCT | PTC Therapeutics Inc. | New | 23,200 | $1.8M | 0.04% | — |
| 97 | MPLT | MapLight Therapeutics, Inc. | New | 56,000 | $952K | 0.02% | — |
| 98 | TRAW | Traws Pharma, Inc. | 605,531 | $684K | 0.01% |
| Q2 2025 |
| $3.9B |
| 88 |
| +9 |
| -89 |
| -4.5% |
| Q1 2025 | $4.1B | 95 | +6 | -73 | -12.2% |
| Q4 2024 | $4.6B | 99 | +11 | -63 | +14.5% |
| Q3 2024 | $4.1B | 75 | +13 | -31 | — |