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PAI

Palo Alto Investors Portfolio holdings

AUM $654M
1-Year Est. Return 77.8%
This Fund
S&P 500
This Quarter Est. Return
+9.98%
1 Year Est. Return
+77.8%
3 Year Est. Return
+127.05%
5 Year Est. Return
+199.24%
10 Year Est. Return
+2,229.57%
AUM
$1.34B
AUM Growth
-$4.41M
Cap. Flow
-$42.5M
Cap. Flow %
-3.17%
Top 10 Hldgs %
67.32%
Holding
46
New
4
Increased
17
Reduced
9
Closed
3

Top Buys

Rank Stock Value
1
INSM icon
Insmed
INSM
+$44.2M
2
CLVS
Clovis Oncology, Inc.
CLVS
+$33.7M
3
NPSP
NPS PHARMACEUTICALS INC
NPSP
+$31.3M
4
WMGI
Wright Medical Group Inc
WMGI
+$25.7M
5
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$22.9M

Top Sells

Rank Stock Value
1
ITMN
INTERMUNE INC
ITMN
+$227M
2
QCOR
QUESTCOR PHARMA INC
QCOR
+$20.3M
3
AGN
Allergan Inc
AGN
+$12.5M
4
FOLD
Amicus Therapeutics
FOLD
+$10.6M
5
CYBX
CYBERONICS INC
CYBX
+$5.44M

Sector Composition

Rank Sector Weight
1 Healthcare 56.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ARIA
26
DELISTED
Ariad Pharmaceuticals Inc
ARIA
$12.1M 0.9%
2,231,717
-43,886
-2% -$256K
FOLD
27
DELISTED
Amicus Therapeutics
FOLD
$11.6M 0.87%
1,956,376
-2,015,200
-51% -$10.6M
ALGN icon
28
Align Technology
ALGN
$12.4B
$11M 0.82%
213,100
+36,312
+21% +$1.98M
ISRG icon
29
Intuitive Surgical
ISRG
$142B
$10.7M 0.8%
209,250
+43,650
+26% +$2.17M
RIGL icon
30
Rigel Pharmaceuticals
RIGL
$782M
$10M 0.75%
518,010
– –
TLPH icon
31
Talphera
TLPH
$72.7M
$8.91M 0.67%
+81,133
New +$12.8M
QLTI
32
DELISTED
QLT Inc
QLTI
$8.34M 0.62%
1,846,075
-41,133
-2% -$232K
OREX
33
DELISTED
Orexigen Therapeutics, Inc.
OREX
$8.23M 0.61%
193,132
– –
ZLTQ
34
DELISTED
ZELTIQ Aesthetics, Inc.
ZLTQ
$6.43M 0.48%
+284,249
New +$5.63M
XOMA
35
DELISTED
Xoma
XOMA
$2.63M 0.2%
31,245
– –
GERN icon
36
Geron
GERN
$1.01B
$2.32M 0.17%
1,161,400
-171,151
-13% -$422K
HPTX
37
DELISTED
HYPERION THERAPEUTICS INC COM STK (DE)
HPTX
$1.58M 0.12%
62,700
– –
RVNC
38
DELISTED
Revance Therapeutics, Inc.
RVNC
$1.55M 0.12%
80,369
-11,300
-12% -$295K
BSTC
39
DELISTED
BioSpecifics Technologies Corp.
BSTC
$1.25M 0.09%
35,336
+24,152
+216% +$709K
AVEO
40
DELISTED
AVEO Pharmaceuticals, Inc.
AVEO
$1.06M 0.08%
95,803
-24,277
-20% -$309K
SPHS
41
DELISTED
Sophiris Bio, Inc.
SPHS
$858K 0.06%
292,900
– –
CYTK icon
42
Cytokinetics
CYTK
$10.5B
$435K 0.03%
123,686
– –
MNK
43
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
$323K 0.02%
+3,588
New +$281K
ITMN
44
DELISTED
INTERMUNE INC
ITMN
– –
-5,134,058
Closed -$227M
QCOR
45
DELISTED
QUESTCOR PHARMA INC
QCOR
– –
-218,995
Closed -$20.3M
AGN
46
DELISTED
Allergan Inc
AGN
– –
-73,900
Closed -$12.5M
1
2

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Palo Alto Investors's Q3 2014 Portfolio in Review

As of Q3 2014, Palo Alto Investors held 46 positions worth $1.34B, down 0.33% from $1.34B the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Palo Alto Investors withdrew a net $42.5M in Q3 2014, closing 3 positions and reducing 9 holdings. Its most notable exit was INTERMUNE INC, an estimated $227M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 56% of assets, up from 45% a quarter earlier.

Against the trend, Palo Alto Investors opened a new position in Wright Medical Group Inc worth $25.2M.

  • Palo Alto Investors's largest Q3 2014 buy was Wright Medical Group Inc: 832,729 shares worth $25.2M.
  • Palo Alto Investors added most to Insmed in Q3 2014, an estimated $44.2M increase.
  • Palo Alto Investors's biggest Q3 2014 reduction was Amicus Therapeutics, cutting an estimated $10.6M.
  • Palo Alto Investors fully exited INTERMUNE INC in Q3 2014, selling an estimated $227M.
  • Palo Alto Investors's ten largest holdings make up 67% of its $1.34B portfolio in Q3 2014.
  • Palo Alto Investors opened 4 new positions and closed 3 in Q3 2014.
  • Palo Alto Investors's portfolio value fell 0.33% quarter-over-quarter to $1.34B.

Based on Palo Alto Investors's 13F filing for Q3 2014, filed 13 Nov 2014.