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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
-1.66%
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
$1.8B
AUM Growth
-$283M
Cap. Flow
-$103M
Cap. Flow %
-5.75%
Top 10 Hldgs %
74.06%
Holding
48
New
1
Increased
18
Reduced
7
Closed
5

Top Buys

Rank Stock Value
1
CEMP
Cempra, Inc.
CEMP
+$32.7M
2
CLVS
Clovis Oncology, Inc.
CLVS
+$28.3M
3
FOLD
Amicus Therapeutics
FOLD
+$14.2M
4
EPZM
Epizyme, Inc
EPZM
+$8.08M
5
ABMD
Abiomed Inc
ABMD
+$5.3M

Top Sells

Rank Stock Value
1
KYTH
KYTHERA BIOPHARMACEUTICALS, INC COM
KYTH
+$84.4M
2
ANAC
ANACOR PHARMACEUTICALS INC COM
ANAC
+$43.2M
3
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$34.4M
4
THOR
THORATEC CORPORATION
THOR
+$17M
5
ISRG icon
Intuitive Surgical
ISRG
+$13.4M

Sector Composition

Rank Sector Weight
1 Healthcare 77.97%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
HTWR
26
DELISTED
HEARTWARE INTERNATIONAL INC COM STK (DE)
HTWR
$12.4M 0.69%
246,068
+2,200
+0.9% +$103K
ALIM
27
DELISTED
Alimera Sciences
ALIM
$7.29M 0.41%
200,920
– –
VIRX
28
DELISTED
Viracta Therapeutics, Inc. Common Stock
VIRX
$6.26M 0.35%
33,214
– –
AIMT
29
DELISTED
Aimmune Therapeutics
AIMT
$6.01M 0.33%
325,599
– –
TLPH icon
30
Talphera
TLPH
$72.7M
$5.49M 0.31%
71,272
-11,560
-14% -$992K
ACGN
31
DELISTED
Aceragen Inc
ACGN
$3.89M 0.22%
9,257
– –
EXAS
32
DELISTED
Exact Sciences
EXAS
$3.66M 0.2%
396,276
+3,600
+0.9% +$33.5K
DRNA
33
DELISTED
Dicerna Pharmaceuticals, Inc.
DRNA
$3.18M 0.18%
267,890
– –
OREX
34
DELISTED
Orexigen Therapeutics, Inc.
OREX
$2.88M 0.16%
167,302
-25,830
-13% -$616K
ALGN icon
35
Align Technology
ALGN
$12.4B
$1.83M 0.1%
27,757
– –
ARCT icon
36
Arcturus Therapeutics
ARCT
$216M
$1.6M 0.09%
36,313
– –
OCGN icon
37
Ocugen
OCGN
$475M
$1.59M 0.09%
7,576
– –
PGEN icon
38
Precigen
PGEN
$2.45B
$1.42M 0.08%
47,524
– –
CYTK icon
39
Cytokinetics
CYTK
$10.5B
$1.29M 0.07%
123,686
– –
SPHS
40
DELISTED
Sophiris Bio, Inc.
SPHS
$879K 0.05%
494,000
+302,400
+158% +$448K
MRNS
41
DELISTED
Marinus Pharmaceuticals, Inc
MRNS
$451K 0.03%
14,754
– –
ZGNX
42
DELISTED
Zogenix, Inc.
ZGNX
$422K 0.02%
28,600
+800
+3% +$10.8K
QURE icon
43
uniQure
QURE
$3.13B
$338K 0.02%
20,453
– –
ISRG icon
44
Intuitive Surgical
ISRG
$142B
– –
-261,900
Closed -$13.4M
XOMA
45
DELISTED
Xoma
XOMA
– –
-39,950
Closed -$601K
BSTC
46
DELISTED
BioSpecifics Technologies Corp.
BSTC
– –
-29,257
Closed -$1.27M
THOR
47
DELISTED
THORATEC CORPORATION
THOR
– –
-268,861
Closed -$17M
KYTH
48
DELISTED
KYTHERA BIOPHARMACEUTICALS, INC COM
KYTH
– –
-1,125,564
Closed -$84.4M
1
2

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PIM
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Palo Alto Investors's Q4 2015 Portfolio in Review

As of Q4 2015, Palo Alto Investors held 48 positions worth $1.8B, down 14% from $2.08B the previous quarter. Its ten largest holdings account for 74% of the portfolio.

Palo Alto Investors withdrew a net $103M in Q4 2015, closing 5 positions and reducing 7 holdings. Its most notable exit was KYTHERA BIOPHARMACEUTICALS, INC COM, an estimated $84.4M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 78% of assets, up from 72% a quarter earlier.

Against the trend, Palo Alto Investors opened a new position in Cempra, Inc. worth $36.6M.

  • Palo Alto Investors's largest Q4 2015 buy was Cempra, Inc.: 1,175,733 shares worth $36.6M.
  • Palo Alto Investors added most to Clovis Oncology, Inc. in Q4 2015, an estimated $28.3M increase.
  • Palo Alto Investors's biggest Q4 2015 reduction was ANACOR PHARMACEUTICALS INC COM, cutting an estimated $43.2M.
  • Palo Alto Investors fully exited KYTHERA BIOPHARMACEUTICALS, INC COM in Q4 2015, selling an estimated $84.4M.
  • Palo Alto Investors's ten largest holdings make up 74% of its $1.8B portfolio in Q4 2015.
  • Palo Alto Investors opened 1 new position and closed 5 in Q4 2015.
  • Palo Alto Investors's portfolio value fell 14% quarter-over-quarter to $1.8B.

Based on Palo Alto Investors's 13F filing for Q4 2015, filed 16 Feb 2016.