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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
+4.77%
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
+$133M
Cap. Flow
+$113M
Cap. Flow %
8.44%
Top 10 Hldgs %
66.4%
Holding
43
New
4
Increased
25
Reduced
6
Closed
1

Top Buys

Rank Stock Value
1
CLVS
Clovis Oncology, Inc.
CLVS
+$37.5M
2
ITMN
INTERMUNE INC
ITMN
+$26.3M
3
GILD icon
Gilead Sciences
GILD
+$11.7M
4
AGN
Allergan Inc
AGN
+$11.5M
5
CELG
Celgene Corp
CELG
+$11.4M

Top Sells

Rank Stock Value
1
QCOR
QUESTCOR PHARMA INC
QCOR
+$64.3M
2
ARIA
Ariad Pharmaceuticals Inc
ARIA
+$8.14M
3
SPPI
Spectrum Pharmaceuticals Inc
SPPI
+$3.15M
4
QLTI
QLT Inc
QLTI
+$852K
5
CYTK icon
Cytokinetics
CYTK
+$754K

Sector Composition

Rank Sector Weight
1 Healthcare 45.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ITMN
1
DELISTED
INTERMUNE INC
ITMN
$227M 16.88%
5,134,058
+715,396
+16% +$26.3M
UTHR icon
2
United Therapeutics
UTHR
$23.1B
$107M 8%
1,213,828
+112,800
+10% +$10.8M
CYBX
3
DELISTED
CYBERONICS INC
CYBX
$107M 7.98%
1,715,430
+3,700
+0.2% +$225K
CBST
4
DELISTED
CUBIST PHARMACEUTICALS INC
CBST
$107M 7.94%
1,526,916
+157,705
+12% +$10.7M
AUXL
5
DELISTED
AUXILIUM PHARAMCEUTICALS INC
AUXL
$97.4M 7.25%
4,854,631
+12,600
+0.3% +$289K
BMRN icon
6
BioMarin Pharmaceuticals
BMRN
$12.4B
$57M 4.24%
915,587
+169,900
+23% +$10.3M
ABMD
7
DELISTED
Abiomed Inc
ABMD
$55.5M 4.13%
2,207,489
+5,200
+0.2% +$121K
VNDA icon
8
Vanda Pharmaceuticals
VNDA
$302M
$52.4M 3.9%
3,240,424
+25,000
+0.8% +$333K
STAA icon
9
STAAR Surgical
STAA
$1.21B
$43.7M 3.25%
2,599,553
+5,900
+0.2% +$97.1K
SQNM
10
DELISTED
SEQUENOM INC NEW
SQNM
$38M 2.83%
9,810,442
+22,000
+0.2% +$64.4K
CLVS
11
DELISTED
Clovis Oncology, Inc.
CLVS
$37.9M 2.82%
915,321
+728,421
+390% +$37.5M
KYTH
12
DELISTED
KYTHERA BIOPHARMACEUTICALS, INC COM
KYTH
$36.5M 2.71%
949,959
+44,700
+5% +$1.56M
AMAG
13
DELISTED
AMAG Pharmaceuticals
AMAG
$33.5M 2.49%
1,614,536
– –
ANAC
14
DELISTED
ANACOR PHARMACEUTICALS INC COM
ANAC
$29.5M 2.19%
1,661,612
+89,534
+6% +$1.44M
EIGR
15
DELISTED
Eiger BioPharmaceuticals, Inc.
EIGR
$23.5M 1.75%
3,263
-51
-2% -$255K
ALIM
16
DELISTED
Alimera Sciences
ALIM
$21.7M 1.62%
242,332
– –
QCOR
17
DELISTED
QUESTCOR PHARMA INC
QCOR
$20.3M 1.51%
218,995
-750,500
-77% -$64.3M
NPSP
18
DELISTED
NPS PHARMACEUTICALS INC
NPSP
$20.1M 1.5%
609,300
+174,100
+40% +$5.03M
INSM icon
19
Insmed
INSM
$28.6B
$19.2M 1.43%
962,101
+645,402
+204% +$9.56M
RIGL icon
20
Rigel Pharmaceuticals
RIGL
$750M
$18.8M 1.4%
518,010
+1,080
+0.2% +$36.7K
MNTA
21
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
$17.6M 1.31%
1,455,176
+140,200
+11% +$1.66M
SHPG
22
DELISTED
Shire pic
SHPG
$15M 1.12%
63,700
+61,900
+3,439% +$10.8M
ARIA
23
DELISTED
Ariad Pharmaceuticals Inc
ARIA
$14.5M 1.08%
2,275,603
-1,183,021
-34% -$8.14M
CELG
24
DELISTED
Celgene Corp
CELG
$13.3M 0.99%
155,180
+150,000
+2,896% +$11.4M
FOLD
25
DELISTED
Amicus Therapeutics
FOLD
$13.3M 0.99%
3,971,576
– –
1
2

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GPSPJS
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W
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DAS
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AG
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BL
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SCM
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Palo Alto Investors's Q2 2014 Portfolio in Review

As of Q2 2014, Palo Alto Investors held 43 positions worth $1.34B, up 11% from $1.21B the previous quarter. Its ten largest holdings account for 66% of the portfolio.

Palo Alto Investors deployed $113M of net new capital in Q2 2014, opening 4 new positions and adding to 25 existing holdings. Its largest new stake was Allergan Inc: 73,900 shares worth $12.5M.

By sector, the portfolio is most concentrated in Healthcare at 45% of assets, up from 42% a quarter earlier.

On the sell side, the largest reduction was QUESTCOR PHARMA INC, an estimated $64.3M trimmed.

  • Palo Alto Investors's largest Q2 2014 buy was Allergan Inc: 73,900 shares worth $12.5M.
  • Palo Alto Investors added most to Clovis Oncology, Inc. in Q2 2014, an estimated $37.5M increase.
  • Palo Alto Investors's biggest Q2 2014 reduction was QUESTCOR PHARMA INC, cutting an estimated $64.3M.
  • Palo Alto Investors fully exited Spectrum Pharmaceuticals Inc in Q2 2014, selling an estimated $3.15M.
  • Palo Alto Investors's ten largest holdings make up 66% of its $1.34B portfolio in Q2 2014.
  • Palo Alto Investors opened 4 new positions and closed 1 in Q2 2014.
  • Palo Alto Investors's portfolio value rose 11% quarter-over-quarter to $1.34B.

Based on Palo Alto Investors's 13F filing for Q2 2014, filed 14 Aug 2014.