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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
ABMD
1
DELISTED
Abiomed Inc
ABMD
$261M 14.52%
2,889,505
+62,500
+2% +$5.3M
ANAC
2
DELISTED
ANACOR PHARMACEUTICALS INC COM
ANAC
$247M 13.75%
2,187,242
-391,912
-15% -$43.2M
UTHR icon
3
United Therapeutics
UTHR
$23.1B
$238M 13.24%
1,518,654
-5,600
-0.4% -$815K
BMRN icon
4
BioMarin Pharmaceuticals
BMRN
$12.4B
$140M 7.79%
1,336,847
-329,645
-20% -$34.4M
CLVS
5
DELISTED
Clovis Oncology, Inc.
CLVS
$124M 6.91%
3,547,719
+438,911
+14% +$28.3M
INSM icon
6
Insmed
INSM
$28.6B
$87M 4.84%
4,790,800
+22,000
+0.5% +$388K
AMAG
7
DELISTED
AMAG Pharmaceuticals
AMAG
$85.6M 4.77%
2,835,792
+58,400
+2% +$1.89M
WMGI
8
DELISTED
Wright Medical Group Inc
WMGI
$51.6M 2.87%
2,132,157
+75,906
+4% +$1.64M
ENDP
9
DELISTED
Endo International plc
ENDP
$49.1M 2.73%
801,230
– –
PRTA icon
10
Prothena Corp
PRTA
$450M
$47.4M 2.64%
695,518
-400
-0.1% -$24.1K
EPZM
11
DELISTED
Epizyme, Inc
EPZM
$42.6M 2.37%
2,660,979
+545,341
+26% +$8.08M
KPTI icon
12
Karyopharm Therapeutics
KPTI
$48M
$41.2M 2.3%
207,510
+1,794
+0.9% +$388K
VNDA icon
13
Vanda Pharmaceuticals
VNDA
$302M
$37.5M 2.09%
4,030,908
+33,800
+0.8% +$337K
CEMP
14
DELISTED
Cempra, Inc.
CEMP
$36.6M 2.04%
+1,175,733
New +$32.7M
FOLD
15
DELISTED
Amicus Therapeutics
FOLD
$34.4M 1.92%
3,551,173
+1,576,797
+80% +$14.2M
CELG
16
DELISTED
Celgene Corp
CELG
$32.4M 1.81%
270,800
– –
GILD icon
17
Gilead Sciences
GILD
$165B
$30.6M 1.71%
302,900
-14,000
-4% -$1.46M
MDVN
18
DELISTED
MEDIVATION, INC.
MDVN
$24.6M 1.37%
509,862
– –
MNTA
19
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
$21.8M 1.21%
1,468,776
+13,600
+0.9% +$228K
SHPG
20
DELISTED
Shire pic
SHPG
$21.5M 1.19%
104,700
– –
STAA icon
21
STAAR Surgical
STAA
$1.21B
$19M 1.06%
2,666,722
+23,800
+0.9% +$193K
SQNM
22
DELISTED
SEQUENOM INC NEW
SQNM
$16.4M 0.92%
10,023,842
– –
ZLTQ
23
DELISTED
ZELTIQ Aesthetics, Inc.
ZLTQ
$16.4M 0.91%
573,636
+5,200
+0.9% +$164K
RIGL icon
24
Rigel Pharmaceuticals
RIGL
$750M
$15.9M 0.88%
523,912
+6,280
+1% +$190K
ARIA
25
DELISTED
Ariad Pharmaceuticals Inc
ARIA
$14.1M 0.79%
2,257,217
+25,500
+1% +$167K
1
2

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W
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DAS
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SCM
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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.