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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
-11.21%
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
$1.5B
AUM Growth
-$556M
Cap. Flow
-$217M
Cap. Flow %
-14.43%
Top 10 Hldgs %
68.56%
Holding
39
New
–
Increased
–
Reduced
23
Closed
2

Top Buys

No buys this quarter

Top Sells

Rank Stock Value
1
EXAS
Exact Sciences
EXAS
+$37.2M
2
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$30.6M
3
SAGE
Sage Therapeutics
SAGE
+$19.1M
4
INSM icon
Insmed
INSM
+$12.6M
5
ABMD
Abiomed Inc
ABMD
+$11.2M

Sector Composition

Rank Sector Weight
1 Healthcare 87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GILD icon
26
Gilead Sciences
GILD
$168B
$2.49M 0.17%
39,300
-136,600
-78% -$8.93M
CELG
27
DELISTED
Celgene Corp
CELG
$2.17M 0.14%
21,883
-85,000
-80% -$8.08M
ALIM
28
DELISTED
Alimera Sciences
ALIM
$1.71M 0.11%
200,920
– –
CYTK icon
29
Cytokinetics
CYTK
$10.5B
$1.41M 0.09%
123,686
– –
ZGNX
30
DELISTED
Zogenix, Inc.
ZGNX
$1.18M 0.08%
29,500
– –
VIRX
31
DELISTED
Viracta Therapeutics, Inc. Common Stock
VIRX
$837K 0.06%
33,214
– –
ALDX icon
32
Aldeyra Therapeutics
ALDX
$91.7M
$387K 0.03%
73,500
– –
NERV icon
33
Minerva Neurosciences
NERV
$187M
$281K 0.02%
4,540
– –
ACGN
34
DELISTED
Aceragen Inc
ACGN
$223K 0.01%
4,537
– –
MRNS
35
DELISTED
Marinus Pharmaceuticals, Inc
MRNS
$193K 0.01%
31,330
– –
SPHS
36
DELISTED
Sophiris Bio, Inc.
SPHS
$144K 0.01%
247,000
– –
MLNT
37
DELISTED
Melinta Therapeutics, Inc. Common Stock
MLNT
$39K ﹤0.01%
10,137
– –
EXAS
38
DELISTED
Exact Sciences
EXAS
– –
-314,889
Closed -$37.2M
OCGN icon
39
Ocugen
OCGN
$475M
– –
-5,049
Closed -$58K
1
2

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Palo Alto Investors's Q3 2019 Portfolio in Review

As of Q3 2019, Palo Alto Investors held 39 positions worth $1.5B, down 27% from $2.06B the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Palo Alto Investors withdrew a net $217M in Q3 2019, closing 2 positions and reducing 23 holdings. Its most notable exit was Exact Sciences, an estimated $37.2M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 87% of assets, down from 90% a quarter earlier.

  • Palo Alto Investors's biggest Q3 2019 reduction was BioMarin Pharmaceuticals, cutting an estimated $30.6M.
  • Palo Alto Investors fully exited Exact Sciences in Q3 2019, selling an estimated $37.2M.
  • Palo Alto Investors's ten largest holdings make up 69% of its $1.5B portfolio in Q3 2019.
  • Palo Alto Investors opened 0 new positions and closed 2 in Q3 2019.
  • Palo Alto Investors's portfolio value fell 27% quarter-over-quarter to $1.5B.

Based on Palo Alto Investors's 13F filing for Q3 2019, filed 14 Nov 2019.