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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
+9.98%
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
-$4.41M
Cap. Flow
-$42.5M
Cap. Flow %
-3.17%
Top 10 Hldgs %
67.32%
Holding
46
New
4
Increased
17
Reduced
9
Closed
3

Top Buys

Rank Stock Value
1
INSM icon
Insmed
INSM
+$44.2M
2
CLVS
Clovis Oncology, Inc.
CLVS
+$33.7M
3
NPSP
NPS PHARMACEUTICALS INC
NPSP
+$31.3M
4
WMGI
Wright Medical Group Inc
WMGI
+$25.7M
5
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$22.9M

Top Sells

Rank Stock Value
1
ITMN
INTERMUNE INC
ITMN
+$227M
2
QCOR
QUESTCOR PHARMA INC
QCOR
+$20.3M
3
AGN
Allergan Inc
AGN
+$12.5M
4
FOLD
Amicus Therapeutics
FOLD
+$10.6M
5
CYBX
CYBERONICS INC
CYBX
+$5.44M

Sector Composition

Rank Sector Weight
1 Healthcare 56.24%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UTHR icon
1
United Therapeutics
UTHR
$23.1B
$167M 12.48%
1,298,828
+85,000
+7% +$8.76M
AUXL
2
DELISTED
AUXILIUM PHARAMCEUTICALS INC
AUXL
$145M 10.83%
4,854,631
– –
CBST
3
DELISTED
CUBIST PHARMACEUTICALS INC
CBST
$122M 9.14%
1,843,688
+316,772
+21% +$20.8M
BMRN icon
4
BioMarin Pharmaceuticals
BMRN
$12.4B
$91.2M 6.82%
1,264,397
+348,810
+38% +$22.9M
CYBX
5
DELISTED
CYBERONICS INC
CYBX
$82.9M 6.2%
1,621,101
-94,329
-5% -$5.44M
CLVS
6
DELISTED
Clovis Oncology, Inc.
CLVS
$78.1M 5.83%
1,721,757
+806,436
+88% +$33.7M
ABMD
7
DELISTED
Abiomed Inc
ABMD
$60.3M 4.51%
2,429,524
+222,035
+10% +$5.62M
ANAC
8
DELISTED
ANACOR PHARMACEUTICALS INC COM
ANAC
$51.8M 3.87%
2,116,665
+455,053
+27% +$9.25M
AMAG
9
DELISTED
AMAG Pharmaceuticals
AMAG
$51.5M 3.85%
1,614,536
– –
INSM icon
10
Insmed
INSM
$28.6B
$50.8M 3.79%
3,892,199
+2,930,098
+305% +$44.2M
NPSP
11
DELISTED
NPS PHARMACEUTICALS INC
NPSP
$44.2M 3.3%
1,699,562
+1,090,262
+179% +$31.3M
KYTH
12
DELISTED
KYTHERA BIOPHARMACEUTICALS, INC COM
KYTH
$36.1M 2.7%
1,102,181
+152,222
+16% +$5.36M
VNDA icon
13
Vanda Pharmaceuticals
VNDA
$302M
$34.1M 2.55%
3,283,124
+42,700
+1% +$560K
SQNM
14
DELISTED
SEQUENOM INC NEW
SQNM
$29.1M 2.18%
9,810,442
– –
STAA icon
15
STAAR Surgical
STAA
$1.21B
$27.6M 2.06%
2,599,553
– –
WMGI
16
DELISTED
Wright Medical Group Inc
WMGI
$25.2M 1.89%
+832,729
New +$25.7M
GILD icon
17
Gilead Sciences
GILD
$165B
$17.8M 1.33%
167,500
+13,100
+8% +$1.28M
MNTA
18
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
$16.5M 1.23%
1,455,176
– –
SHPG
19
DELISTED
Shire pic
SHPG
$16.5M 1.23%
63,700
– –
ALIM
20
DELISTED
Alimera Sciences
ALIM
$16.5M 1.23%
202,684
-39,648
-16% -$3.39M
CELG
21
DELISTED
Celgene Corp
CELG
$16.3M 1.22%
171,600
+16,420
+11% +$1.48M
EIGR
22
DELISTED
Eiger BioPharmaceuticals, Inc.
EIGR
$15.2M 1.14%
3,238
-25
-0.8% -$132K
EXAS
23
DELISTED
Exact Sciences
EXAS
$15.1M 1.13%
777,676
– –
PRTA icon
24
Prothena Corp
PRTA
$450M
$14.9M 1.12%
673,818
+139,800
+26% +$2.96M
MDVN
25
DELISTED
MEDIVATION, INC.
MDVN
$12.9M 0.96%
260,200
+14,400
+6% +$612K
1
2

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DAS
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Palo Alto Investors's Q3 2014 Portfolio in Review

As of Q3 2014, Palo Alto Investors held 46 positions worth $1.34B, down 0.33% from $1.34B the previous quarter. Its ten largest holdings account for 67% of the portfolio.

Palo Alto Investors withdrew a net $42.5M in Q3 2014, closing 3 positions and reducing 9 holdings. Its most notable exit was INTERMUNE INC, an estimated $227M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 56% of assets, up from 45% a quarter earlier.

Against the trend, Palo Alto Investors opened a new position in Wright Medical Group Inc worth $25.2M.

  • Palo Alto Investors's largest Q3 2014 buy was Wright Medical Group Inc: 832,729 shares worth $25.2M.
  • Palo Alto Investors added most to Insmed in Q3 2014, an estimated $44.2M increase.
  • Palo Alto Investors's biggest Q3 2014 reduction was Amicus Therapeutics, cutting an estimated $10.6M.
  • Palo Alto Investors fully exited INTERMUNE INC in Q3 2014, selling an estimated $227M.
  • Palo Alto Investors's ten largest holdings make up 67% of its $1.34B portfolio in Q3 2014.
  • Palo Alto Investors opened 4 new positions and closed 3 in Q3 2014.
  • Palo Alto Investors's portfolio value fell 0.33% quarter-over-quarter to $1.34B.

Based on Palo Alto Investors's 13F filing for Q3 2014, filed 13 Nov 2014.