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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
+21.7%
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
$1.7B
AUM Growth
+$365M
Cap. Flow
+$98.8M
Cap. Flow %
5.8%
Top 10 Hldgs %
66.83%
Holding
48
New
5
Increased
24
Reduced
10
Closed
2

Top Buys

Rank Stock Value
1
WMGI
Wright Medical Group Inc
WMGI
+$35.3M
2
CLVS
Clovis Oncology, Inc.
CLVS
+$20M
3
AMAG
AMAG Pharmaceuticals
AMAG
+$13.7M
4
UTHR icon
United Therapeutics
UTHR
+$13.4M
5
ANAC
ANACOR PHARMACEUTICALS INC COM
ANAC
+$12.2M

Top Sells

Rank Stock Value
1
CBST
CUBIST PHARMACEUTICALS INC
CBST
+$42M
2
NPSP
NPS PHARMACEUTICALS INC
NPSP
+$15.2M
3
EXAS
Exact Sciences
EXAS
+$9.4M
4
GERN icon
Geron
GERN
+$2.32M
5
RVNC
Revance Therapeutics, Inc.
RVNC
+$1.55M

Sector Composition

Rank Sector Weight
1 Healthcare 57.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PRTA icon
26
Prothena Corp
PRTA
$475M
$14.3M 0.84%
691,218
+17,400
+3% +$363K
TLPH icon
27
Talphera
TLPH
$72.7M
$14.3M 0.84%
106,427
+25,294
+31% +$3.28M
ISRG icon
28
Intuitive Surgical
ISRG
$142B
$13.8M 0.81%
234,450
+25,200
+12% +$1.4M
ALGN icon
29
Align Technology
ALGN
$12.4B
$13.1M 0.77%
234,300
+21,200
+10% +$1.12M
RIGL icon
30
Rigel Pharmaceuticals
RIGL
$782M
$11.8M 0.69%
517,632
-378
-0.1% -$7.64K
OREX
31
DELISTED
Orexigen Therapeutics, Inc.
OREX
$11.7M 0.69%
193,132
– –
ZLTQ
32
DELISTED
ZELTIQ Aesthetics, Inc.
ZLTQ
$11M 0.65%
394,486
+110,237
+39% +$2.87M
EXAS
33
DELISTED
Exact Sciences
EXAS
$10.7M 0.63%
391,276
-386,400
-50% -$9.4M
SLXP
34
DELISTED
SALIX PHARMACEUTICALS LTD DEL
SLXP
$8.82M 0.52%
+76,700
New +$9.29M
THOR
35
DELISTED
THORATEC CORPORATION
THOR
$8.73M 0.51%
+268,861
New +$7.82M
QLTI
36
DELISTED
QLT Inc
QLTI
$6.95M 0.41%
1,733,208
-112,867
-6% -$441K
OCGN icon
37
Ocugen
OCGN
$475M
$5M 0.29%
+7,576
New +$5M
XOMA
38
DELISTED
Xoma
XOMA
$2.85M 0.17%
39,725
+8,480
+27% +$727K
BSTC
39
DELISTED
BioSpecifics Technologies Corp.
BSTC
$1.95M 0.11%
50,436
+15,100
+43% +$576K
HPTX
40
DELISTED
HYPERION THERAPEUTICS INC COM STK (DE)
HPTX
$1.5M 0.09%
62,700
– –
PGEN icon
41
Precigen
PGEN
$2.45B
$1.2M 0.07%
+45,725
New +$1M
CYTK icon
42
Cytokinetics
CYTK
$10.5B
$991K 0.06%
123,686
– –
AVEO
43
DELISTED
AVEO Pharmaceuticals, Inc.
AVEO
$562K 0.03%
66,945
-28,858
-30% -$264K
NXTM
44
DELISTED
NxStage Medical Inc.
NXTM
$362K 0.02%
+20,200
New +$325K
MNK
45
DELISTED
MALLINCKRODT PUBLIC LIMITED COMPANY
MNK
$355K 0.02%
3,588
– –
SPHS
46
DELISTED
Sophiris Bio, Inc.
SPHS
$103K 0.01%
191,600
-101,300
-35% -$235K
GERN icon
47
Geron
GERN
$1.01B
– –
-1,161,400
Closed -$2.32M
RVNC
48
DELISTED
Revance Therapeutics, Inc.
RVNC
– –
-80,369
Closed -$1.55M
1
2

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DC
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Palo Alto Investors's Q4 2014 Portfolio in Review

As of Q4 2014, Palo Alto Investors held 48 positions worth $1.7B, up 27% from $1.34B the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Palo Alto Investors deployed $98.8M of net new capital in Q4 2014, opening 5 new positions and adding to 24 existing holdings. Its largest new stake was SALIX PHARMACEUTICALS LTD DEL: 76,700 shares worth $8.82M.

By sector, the portfolio is most concentrated in Healthcare at 58% of assets, up from 56% a quarter earlier.

On the sell side, the largest reduction was CUBIST PHARMACEUTICALS INC, an estimated $42M trimmed.

  • Palo Alto Investors's largest Q4 2014 buy was SALIX PHARMACEUTICALS LTD DEL: 76,700 shares worth $8.82M.
  • Palo Alto Investors added most to Wright Medical Group Inc in Q4 2014, an estimated $35.3M increase.
  • Palo Alto Investors's biggest Q4 2014 reduction was CUBIST PHARMACEUTICALS INC, cutting an estimated $42M.
  • Palo Alto Investors fully exited Geron in Q4 2014, selling an estimated $2.32M.
  • Palo Alto Investors's ten largest holdings make up 67% of its $1.7B portfolio in Q4 2014.
  • Palo Alto Investors opened 5 new positions and closed 2 in Q4 2014.
  • Palo Alto Investors's portfolio value rose 27% quarter-over-quarter to $1.7B.

Based on Palo Alto Investors's 13F filing for Q4 2014, filed 17 Feb 2015.