Orbimed Advisors LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Orbimed Advisors LLC reported 97 stock positions worth $4.0 billion. Its top holding was Sinovac Biotech (SVA) at 8.4% of the portfolio, followed by Boston Scientific (BSX, 7.6%) and Eli Lilly (LLY, 6.6%). Compared with Q1 2025, it opened 14 new positions, sold out of 23, added to 19 and reduced 23. The biggest buy was a new position in Caris Life Sciences (CAI) and the biggest sale an exit from Pfizer (PFE).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001055951
- Portfolio Value
- $4.0B (Q2 2025)
- SEC Filing
- 0001172661-25-003514 ↗ filed Aug 14, 2025
Holdings Value
Holdings 97 stocks · $4.0B
| SVA Sinovac Biotech Ltd. | 8.40% | 2,718,735 | $334.0M | No change |
| BSX Boston Scientific Corp. | 7.60% | 2,813,200 | $302.2M | No change |
| LLY Eli Lilly & Co. | 6.62% | 337,600 | $263.2M | No change |
| EWTX Edgewise Therapeutics Inc. | 5.12% | 15,518,492 | $203.4M | Add +3.3% |
| ELVN Enliven Therapeutics Inc. | 4.02% | 7,959,538 | $159.7M | No change |
| ISRG Intuitive Surgical Inc. | 3.98% | 291,000 | $158.1M | No change |
| SPRY Ars Pharmaceuticals Inc. | 3.64% | 8,288,510 | $144.6M | No change |
| SYK Stryker Corp. | 3.57% | 359,200 | $142.1M | No change |
| EW Edwards Lifesciences Corp. | 3.36% | 1,708,000 | $133.6M | Add +11.5% |
| ARGX Argenx SE - ADR | 2.88% | 208,000 | $114.7M | Add +0.6% |
| ALNY Alnylam Pharmaceuticals Inc. | 2.80% | 341,900 | $111.5M | Reduce -1.2% |
| UNH Unitedhealth Group Inc. | 2.64% | 336,300 | $104.9M | Add +67.2% |
| NTRA Natera Inc. | 2.52% | 593,434 | $100.3M | Add +8.5% |
| VRTX Vertex Pharmaceuticals Inc. | 2.35% | 210,287 | $93.6M | Add +31.5% |
| THC Tenet Healthcare Corp. | 2.06% | 465,000 | $81.8M | No change |
| CAI Caris Life Sciences Inc. | 2.04% | 3,034,858 | $81.1M | New |
| IRON Disc Medicine Inc. | 1.88% | 1,415,020 | $74.9M | No change |
| AVBP Arrivent Biopharma Inc. | 1.66% | 3,027,328 | $65.9M | No change |
| SION Sionna Therapeutics Inc. | 1.62% | 3,704,959 | $64.3M | No change |
| UPB Upstream Bio Inc. | 1.57% | 5,693,589 | $62.5M | No change |
| NBIX Neurocrine Biosciences Inc. | 1.39% | 438,540 | $55.1M | Reduce -53.1% |
| ITGR Integer Holdings Corp. | 1.34% | 433,400 | $53.3M | Reduce -34.6% |
| RNAM Avidity Biosciences Inc. | 1.29% | 1,812,886 | $51.5M | No change |
| CGON CG Oncology Inc. | 1.23% | 1,877,850 | $48.8M | Reduce -24.0% |
| SIBN Si-Bone Inc. | 1.22% | 2,578,979 | $48.5M | Reduce -25.1% |
| MBX MBX Biosciences Inc. | 1.15% | 4,002,887 | $45.7M | No change |
| AXSM Axsome Therapeutics Inc. | 1.12% | 427,900 | $44.7M | Add +10.7% |
| CMPX Compass Therapeutics Inc. | 1.00% | 15,219,994 | $39.6M | Reduce -31.9% |
| CYTK Cytokinetics Inc. | 0.89% | 1,077,000 | $35.6M | Reduce -28.6% |
| CRNX Crinetics Pharmaceuticals Inc. | 0.83% | 1,149,000 | $33.0M | Add +15.0% |
| EXAS Exact Sciences Corp. | 0.81% | 607,316 | $32.3M | Reduce -10.7% |
| THRD Third Harmonic Bio Inc. | 0.79% | 5,779,071 | $31.4M | No change |
| ROIV Roivant Sciences Ltd. | 0.79% | 2,779,427 | $31.3M | New |
| XENE Xenon Pharmaceuticals Inc. | 0.75% | 947,877 | $29.7M | No change |
| NPCE Neuropace Inc. | 0.73% | 2,614,184 | $29.1M | Reduce -23.3% |
| CRVS Corvus Pharmaceuticals Inc. | 0.72% | 7,165,006 | $28.7M | Add +3.2% |
| TERN Terns Pharmaceuticals Inc. | 0.71% | 7,562,971 | $28.2M | No change |
| JANX Janux Therapeutics Inc. | 0.70% | 1,210,300 | $28.0M | Add +59.5% |
| APLS Apellis Pharmaceuticals Inc. | 0.65% | 1,482,300 | $25.7M | Add +3.5% |
| GPCR Structure Therapeutics Inc. | 0.63% | 1,199,300 | $24.9M | Add +83.9% |
| SCPH Scpharmaceuticals Inc. | 0.58% | 6,059,528 | $23.1M | No change |
| CTMX Cytomx Therapeutics Inc. | 0.48% | 8,461,500 | $19.2M | New |
| TMO Thermo Fisher Scientific Inc. | 0.47% | 46,500 | $18.9M | Reduce -64.0% |
| AGIO Agios Pharmaceuticals Inc. | 0.47% | 557,900 | $18.6M | Add +71.4% |
| TRVI Trevi Therapeutics Inc. | 0.46% | 3,308,400 | $18.1M | Add +195.4% |
| ADCT Adc Therapeutics SA | 0.40% | 5,907,351 | $15.8M | Reduce -1.0% |
| RYTM Rhythm Pharmaceuticals Inc. | 0.39% | 248,512 | $15.7M | Reduce -34.6% |
| FBRX Forte Biosciences Inc. | 0.39% | 1,196,955 | $15.5M | Add +101.8% |
| CGEM Cullinan Therapeutics Inc. | 0.36% | 1,923,855 | $14.5M | No change |
| KROS Keros Therapeutics Inc. | 0.34% | 1,018,734 | $13.6M | No change |
| RAPT Rapt Therapeutics Inc. | 0.33% | 1,641,906 | $13.1M | New |
| 0 | 0.33% | 12,048,773 | $13.1M | No change |
| FOLD Amicus Therapeutics Inc. | 0.33% | 2,285,400 | $13.1M | No change |
| VIR Vir Biotechnology Inc. | 0.30% | 2,380,715 | $12.0M | Add +5.9% |
| ABCL Abcellera Biologics Inc. | 0.29% | 3,344,568 | $11.5M | Reduce -20.0% |
| AKRO Akero Therapeutics Inc. | 0.28% | 211,300 | $11.3M | Add +17.4% |
| MLYS Mineralys Therapeutics Inc. | 0.26% | 760,351 | $10.3M | New |
| DYN Dyne Therapeutics Inc. | 0.25% | 1,031,400 | $9.8M | Add +1.6% |
| CCCC C4 Therapeutics Inc. | 0.25% | 6,830,300 | $9.8M | No change |
| ORIC Oric Pharmaceuticals Inc. | 0.23% | 899,281 | $9.1M | Add +28.5% |
| CPRX Catalyst Pharmaceuticals Inc. | 0.23% | 416,900 | $9.0M | New |
| PRLD Prelude Therapeutics Inc. | 0.22% | 10,909,256 | $8.8M | No change |
| CRBP Corbus Pharmaceuticals Holdi | 0.20% | 1,172,287 | $8.1M | No change |
| ZLAB Zai Lab Ltd.-ADR | 0.20% | 231,000 | $8.1M | New |
| TARS Tarsus Pharmaceuticals Inc. | 0.20% | 197,900 | $8.0M | Reduce -69.7% |
| WHWK Whitehawk Therapeutics Inc. | 0.20% | 4,166,000 | $7.8M | No change |
| TYRA Tyra Biosciences Inc. | 0.19% | 804,603 | $7.7M | Reduce -54.1% |
| ACET Adicet Bio Inc. | 0.18% | 11,447,140 | $7.0M | No change |
| ITOS Iteos Therapeutics Inc. | 0.18% | 700,000 | $7.0M | New |
| PMVP PMV Pharmaceuticals Inc. | 0.17% | 6,475,291 | $6.9M | No change |
| URGN Urogen Pharma Ltd. | 0.16% | 478,400 | $6.6M | New |
| ASND Ascendis Pharma A/S | 0.15% | 34,400 | $5.9M | New |
| ALMS Alumis Inc. | 0.15% | 1,926,423 | $5.8M | New |
| JBIO Jade Biosciences Inc. | 0.13% | 531,163 | $5.3M | New |
| NSPR Inspiremd Inc. | 0.12% | 2,133,405 | $4.8M | No change |
| AVTX Avalo Therapeutics Inc. | 0.12% | 967,000 | $4.8M | No change |
| IKENA ONCOLOGY INC | 0.12% | 3,539,358 | $4.7M | No change |
| RPTX Repare Therapeutics Inc. | 0.12% | 3,322,488 | $4.6M | No change |
| IMTX Immatics NV | 0.10% | 719,901 | $3.9M | Reduce -76.7% |
| BIOA Bioage Labs Inc. | 0.10% | 921,959 | $3.8M | No change |
| QTTB Q32 Bio Inc. | 0.08% | 2,252,987 | $3.4M | No change |
| ENGN Engene Holdings Inc. | 0.06% | 677,977 | $2.5M | Reduce -24.0% |
| PASG Passage Bio Inc. | 0.06% | 6,055,300 | $2.4M | Reduce -13.9% |
| AMLX Amylyx Pharmaceuticals Inc. | 0.05% | 313,200 | $2.0M | Reduce -10.0% |
| MURA Mural Oncology PLC | 0.04% | 588,800 | $1.5M | New |
| INSM Insmed Inc. | 0.03% | 13,459 | $1.4M | Reduce -53.0% |
| KRYS Krystal Biotech Inc. | 0.03% | 9,200 | $1.3M | Reduce -60.9% |
| TSBX Turnstone Biologics Corp. | 0.03% | 3,099,265 | $1.1M | No change |
| CMMB Chemomab Therapeutics Ltd. | 0.03% | 940,990 | $1.1M | Reduce -46.0% |
| TRAW Traws Pharma Inc. | 0.02% | 605,531 | $896K | No change |
| KZR Kezar Life Sciences Inc. | 0.02% | 192,700 | $883K | No change |
| ANRO Alto Neuroscience Inc. | 0.01% | 250,000 | $550K | No change |
| DIH HLDG US INC | 0.01% | 1,915,000 | $469K | No change |
| LYEL Lyell Immunopharma Inc. | 0.01% | 51,727 | $457K | New |
| KRRO Korro Bio Inc. | 0.01% | 32,400 | $405K | No change |
| XERS Xeris Biopharma Holdings Inc. | 0.01% | 80,420 | $376K | No change |
| LSBCF Lakeshore Biopharma Co. Ltd. | 0.00% | 54,799 | $56K | Reduce -61.0% |
Options reported separately and not counted above: UNH calls ($15.6M), AZN calls ($7.0M), CGON calls ($3.9M), APLS calls ($866K), INMB puts ($116K).
Portfolio Sells Q1 2025 → Q2 2025
| PFE Pfizer Inc. | Sold out | 0.00% | −2.34 |
| IONS Ionis Pharmaceuticals Inc. | Sold out | 0.00% | −1.84 |
| NBIX Neurocrine Biosciences Inc. | Reduce -53.1% | 1.39% | −1.10 |
| TMO Thermo Fisher Scientific Inc. | Reduce -64.0% | 0.47% | −1.07 |
| SWTX Springworks Therapeutics Inc. | Sold out | 0.00% | −1.01 |
| XTNT Xtant Medical Holdings Inc. | Sold out | 0.00% | −0.83 |
| TARS Tarsus Pharmaceuticals Inc. | Reduce -69.7% | 0.20% | −0.60 |
| CYTK Cytokinetics Inc. | Reduce -28.6% | 0.89% | −0.56 |
| ITGR Integer Holdings Corp. | Reduce -34.6% | 1.34% | −0.54 |
| GILD Gilead Sciences Inc. | Sold out | 0.00% | −0.53 |
| VSTM Verastem Inc. | Sold out | 0.00% | −0.41 |
| RAPT THERAPEUTICS INC | Sold out | 0.00% | −0.38 |
| AMGN Amgen Inc. | Sold out | 0.00% | −0.33 |
| VERA Vera Therapeutics Inc. | Sold out | 0.00% | −0.28 |
| NPCE Neuropace Inc. | Reduce -23.3% | 0.73% | −0.27 |
| SLRN Acelyrin Inc. | Sold out | 0.00% | −0.24 |
| IMTX Immatics NV | Reduce -76.7% | 0.10% | −0.24 |
| CGON CG Oncology Inc. | Reduce -24.0% | 1.23% | −0.23 |
| TYRA Tyra Biosciences Inc. | Reduce -54.1% | 0.19% | −0.20 |
| KMTS Kestra Medical Technologies | Sold out | 0.00% | −0.15 |
| SRRK Scholar Rock Holding Corp. | Sold out | 0.00% | −0.12 |
| BCAX Bicara Therapeutics Inc. | Sold out | 0.00% | −0.09 |
| RYTM Rhythm Pharmaceuticals Inc. | Reduce -34.6% | 0.39% | −0.09 |
| KRYS Krystal Biotech Inc. | Reduce -60.9% | 0.03% | −0.07 |
| CBLL Ceribell Inc. | Sold out | 0.00% | −0.05 |
| TIL Instil Bio Inc. | Sold out | 0.00% | −0.05 |
| CRDF Cardiff Oncology Inc. | Sold out | 0.00% | −0.04 |
| XFOR X4 Pharmaceuticals Inc. | Sold out | 0.00% | −0.04 |
| NKTX Nkarta Inc. | Sold out | 0.00% | −0.04 |
| ENGN Engene Holdings Inc. | Reduce -24.0% | 0.06% | −0.03 |
| FATE Fate Therapeutics Inc. | Sold out | 0.00% | −0.03 |
| CMPX Compass Therapeutics Inc. | Reduce -31.9% | 1.00% | −0.03 |
| BIOMX INC | Sold out | 0.00% | −0.02 |
| INSM Insmed Inc. | Reduce -53.0% | 0.03% | −0.02 |
| CMMB Chemomab Therapeutics Ltd. | Reduce -46.0% | 0.03% | −0.02 |
| TNGX Tango Therapeutics Inc. | Sold out | 0.00% | −0.02 |
| IVVD Invivyd Inc. | Sold out | 0.00% | −0.01 |
| NXTC Nextcure Inc. | Sold out | 0.00% | −0.01 |
| LSBCF Lakeshore Biopharma Co. Ltd. | Reduce -61.0% | 0.00% | −0.01 |
| PASG Passage Bio Inc. | Reduce -13.9% | 0.06% | +0.00 |
| AMLX Amylyx Pharmaceuticals Inc. | Reduce -10.0% | 0.05% | +0.02 |
| SIBN Si-Bone Inc. | Reduce -25.1% | 1.22% | +0.06 |
| ABCL Abcellera Biologics Inc. | Reduce -20.0% | 0.29% | +0.06 |
| EXAS Exact Sciences Corp. | Reduce -10.7% | 0.81% | +0.10 |
| ADCT Adc Therapeutics SA | Reduce -1.0% | 0.40% | +0.20 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -1.2% | 2.80% | +0.56 |
Portfolio Buys Q1 2025 → Q2 2025
| CAI Caris Life Sciences Inc. | New | 2.04% | +2.04 |
| ROIV Roivant Sciences Ltd. | New | 0.79% | +0.79 |
| EW Edwards Lifesciences Corp. | Add +11.5% | 3.36% | +0.69 |
| NTRA Natera Inc. | Add +8.5% | 2.52% | +0.66 |
| VRTX Vertex Pharmaceuticals Inc. | Add +31.5% | 2.35% | +0.49 |
| CTMX Cytomx Therapeutics Inc. | New | 0.48% | +0.48 |
| GPCR Structure Therapeutics Inc. | Add +83.9% | 0.63% | +0.35 |
| RAPT Rapt Therapeutics Inc. | New | 0.33% | +0.33 |
| TRVI Trevi Therapeutics Inc. | Add +195.4% | 0.46% | +0.29 |
| FBRX Forte Biosciences Inc. | Add +101.8% | 0.39% | +0.28 |
| MLYS Mineralys Therapeutics Inc. | New | 0.26% | +0.26 |
| AGIO Agios Pharmaceuticals Inc. | Add +71.4% | 0.47% | +0.24 |
| CPRX Catalyst Pharmaceuticals Inc. | New | 0.23% | +0.23 |
| JANX Janux Therapeutics Inc. | Add +59.5% | 0.70% | +0.21 |
| ZLAB Zai Lab Ltd.-ADR | New | 0.20% | +0.20 |
| CRVS Corvus Pharmaceuticals Inc. | Add +3.2% | 0.72% | +0.19 |
| ITOS Iteos Therapeutics Inc. | New | 0.18% | +0.18 |
| URGN Urogen Pharma Ltd. | New | 0.16% | +0.16 |
| ASND Ascendis Pharma A/S | New | 0.15% | +0.15 |
| ALMS Alumis Inc. | New | 0.15% | +0.15 |
| ORIC Oric Pharmaceuticals Inc. | Add +28.5% | 0.23% | +0.14 |
| JBIO Jade Biosciences Inc. | New | 0.13% | +0.13 |
| AKRO Akero Therapeutics Inc. | Add +17.4% | 0.28% | +0.11 |
| UNH Unitedhealth Group Inc. | Add +67.2% | 2.64% | +0.11 |
| AXSM Axsome Therapeutics Inc. | Add +10.7% | 1.12% | +0.04 |
| MURA Mural Oncology PLC | New | 0.04% | +0.04 |
| CRNX Crinetics Pharmaceuticals Inc. | Add +15.0% | 0.83% | +0.03 |
| LYEL Lyell Immunopharma Inc. | New | 0.01% | +0.01 |
| DYN Dyne Therapeutics Inc. | Add +1.6% | 0.25% | −0.01 |
| VIR Vir Biotechnology Inc. | Add +5.9% | 0.30% | −0.05 |
| ARGX Argenx SE - ADR | Add +0.6% | 2.88% | −0.06 |
| APLS Apellis Pharmaceuticals Inc. | Add +3.5% | 0.65% | −0.11 |
| EWTX Edgewise Therapeutics Inc. | Add +3.3% | 5.12% | −2.82 |
Options Activity Q1 2025 → Q2 2025
| UNH Unitedhealth Group Inc. | call | New | 50,000 | $15.6M |
| PFE Pfizer Inc. | call | Sold out | 500,000 | $12.7Mbefore exit |
| XBI SS SPDR S&P Biotech ETF | call | Sold out | 100,000 | $8.1Mbefore exit |
| SWTX Springworks Therapeutics Inc. | call | Sold out | 172,600 | $7.6Mbefore exit |
| AZN Astrazeneca PLC-Spons ADR | call | New | 100,000 | $7.0M |
| CGON CG Oncology Inc. | call | New | 150,000 | $3.9M |
| GPCR Structure Therapeutics Inc. | call | Sold out | 150,000 | $2.6Mbefore exit |
| APLS Apellis Pharmaceuticals Inc. | call | New | 50,000 | $866K |
| INMB Inmune Bio Inc. | put | New | 50,000 | $116K |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 117 | $5.3B | EWTX, ELVN, LLY, MBX, SVA |
| Q1 2026 | 105 | $4.4B | EWTX, ELVN, LLY, SVA, BSX |
| Q4 2025 | 104 | $4.9B | EWTX, LLY, BSX, SVA, EW |
| Q3 2025 | 98 | $4.2B | EWTX, BSX, LLY, SVA, ELVN |
| Q2 2025 | 97 | $4.0B | SVA, BSX, LLY, EWTX, ELVN |
| Q1 2025 | 106 | $4.2B | SVA, EWTX, BSX, LLY, ELVN |
| Q4 2024 | 111 | $4.8B | EWTX, SVA, BSX, LLY, ISRG |
| Q3 2024 | 109 | $5.5B | EWTX, SVA, LLY, BSX, ISRG |
| Q2 2024 | 108 | $5.0B | SVA, LLY, EWTX, BSX, ISRG |
| Q1 2024 | 112 | $5.4B | SVA, LLY, EWTX, BSX, ISRG |