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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
+0.2%
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
$645M
AUM Growth
-$124M
Cap. Flow
-$65.6M
Cap. Flow %
-10.17%
Top 10 Hldgs %
76.62%
Holding
47
New
2
Increased
6
Reduced
10
Closed
4

Top Buys

Rank Stock Value
1
PTCT icon
PTC Therapeutics
PTCT
+$5.22M
2
NVCR icon
NovoCure
NVCR
+$4.67M
3
BCYC
Bicycle Therapeutics
BCYC
+$4.06M
4
ACAD icon
Acadia Pharmaceuticals
ACAD
+$3.63M
5
PYXS icon
Pyxis Oncology
PYXS
+$2.5M

Top Sells

Rank Stock Value
1
INSM icon
Insmed
INSM
+$24.3M
2
STAA icon
STAAR Surgical
STAA
+$16.9M
3
UTHR icon
United Therapeutics
UTHR
+$10.1M
4
RVNC
Revance Therapeutics, Inc.
RVNC
+$8.37M
5
SAGE
Sage Therapeutics
SAGE
+$7.3M

Sector Composition

Rank Sector Weight
1 Healthcare 97.26%
2 Financials 2.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
NVRO
26
DELISTED
NEVRO CORP.
NVRO
$2.79M 0.43%
750,371
– –
MIRM icon
27
Mirum Pharmaceuticals
MIRM
$6.04B
$2.68M 0.41%
64,700
– –
NUVB icon
28
Nuvation Bio
NUVB
$2.25B
$2.06M 0.32%
772,652
– –
TVTX icon
29
Travere Therapeutics
TVTX
$5.86B
$1.93M 0.3%
110,719
– –
PYXS icon
30
Pyxis Oncology
PYXS
$201M
$1.62M 0.25%
1,037,421
+867,421
+510% +$2.5M
YARW
31
Yarrow Bioscience, Inc. Common Stock
YARW
$114M
$1.49M 0.23%
8,909
– –
ACRS icon
32
Aclaris Therapeutics
ACRS
$860M
$1.41M 0.22%
569,832
– –
TSHA icon
33
Taysha Gene Therapies
TSHA
$2.05B
$1.4M 0.22%
811,268
– –
STOK icon
34
Stoke Therapeutics
STOK
$2.13B
$1.39M 0.22%
125,861
– –
ALDX icon
35
Aldeyra Therapeutics
ALDX
$91.7M
$1.13M 0.17%
225,465
– –
HUM icon
36
Humana
HUM
$46.7B
$1.01M 0.16%
3,985
– –
JSPR icon
37
Jasper Therapeutics
JSPR
$27.4M
$655K 0.1%
+30,651
New +$638K
ABEO icon
38
Abeona Therapeutics
ABEO
$425M
$606K 0.09%
108,865
+96,000
+746% +$591K
URGN icon
39
UroGen Pharma
URGN
$2.39B
$261K 0.04%
24,500
– –
RLMD icon
40
Relmada Therapeutics
RLMD
$503M
$257K 0.04%
495,146
-237,254
-32% -$579K
TIL icon
41
Instil Bio
TIL
$50.7M
$213K 0.03%
11,165
– –
AKTX
42
Akari Therapeutics
AKTX
$12.6M
$178K 0.03%
+3,651
New +$275K
GBIO
43
DELISTED
Generation Bio
GBIO
$160K 0.02%
15,048
– –
BLUE
44
DELISTED
bluebird bio
BLUE
– –
-30,213
Closed -$314K
ELEV
45
DELISTED
Elevation Oncology
ELEV
– –
-1,298,097
Closed -$779K
SAGE
46
DELISTED
Sage Therapeutics
SAGE
– –
-1,010,833
Closed -$7.3M
RVNC
47
DELISTED
Revance Therapeutics, Inc.
RVNC
– –
-1,611,787
Closed -$8.37M
1
2

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AG
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BL
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PIM
Parker Investment Management Menlo Park, California $659M AUM 52.52% 1-Year Est. Return
ACA
Apis Capital Advisors New York $648M AUM 302.67% 1-Year Est. Return
PCM
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HCM
Huber Capital Management El Segundo, California $647M AUM 24.91% 1-Year Est. Return
ACM
Arosa Capital Management Miami Beach, Florida $660M AUM 210.26% 1-Year Est. Return
DC
Decheng Capital Menlo Park, California $661M AUM 299.97% 1-Year Est. Return

Palo Alto Investors's Q4 2024 Portfolio in Review

As of Q4 2024, Palo Alto Investors held 47 positions worth $645M, down 16% from $770M the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Palo Alto Investors withdrew a net $65.6M in Q4 2024, closing 4 positions and reducing 10 holdings. Its most notable exit was Revance Therapeutics, Inc., an estimated $8.37M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 97% of assets, down from 99% a quarter earlier, followed by Financials.

Against the trend, Palo Alto Investors opened a new position in Jasper Therapeutics worth $655K.

  • Palo Alto Investors's largest Q4 2024 buy was Jasper Therapeutics: 30,651 shares worth $655K.
  • Palo Alto Investors added most to PTC Therapeutics in Q4 2024, an estimated $5.22M increase.
  • Palo Alto Investors's biggest Q4 2024 reduction was Insmed, cutting an estimated $24.3M.
  • Palo Alto Investors fully exited Revance Therapeutics, Inc. in Q4 2024, selling an estimated $8.37M.
  • Palo Alto Investors's ten largest holdings make up 77% of its $645M portfolio in Q4 2024.
  • Palo Alto Investors opened 2 new positions and closed 4 in Q4 2024.
  • Palo Alto Investors's portfolio value fell 16% quarter-over-quarter to $645M.

Based on Palo Alto Investors's 13F filing for Q4 2024, filed 14 Feb 2025.