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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
-15.62%
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
$1.19B
AUM Growth
-$622M
(-34%)
Cap. Flow
-$278M
Cap. Flow
% of AUM
-23.29%
Top 10 Holdings %
Top 10 Hldgs %
72.62%
Holding
40
New
3
Increased
3
Reduced
19
Closed
3
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
RVNC
Revance Therapeutics, Inc.
RVNC
|
+$10.9M |
| 2 |
Travere Therapeutics
TVTX
|
+$707K |
| 3 |
UroGen Pharma
URGN
|
+$662K |
| 4 |
Syndax Pharmaceuticals
SNDX
|
+$620K |
| 5 |
Puma Biotechnology
PBYI
|
+$456K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
WMGI
Wright Medical Group Inc
WMGI
|
+$65.9M |
| 2 |
BioMarin Pharmaceuticals
BMRN
|
+$41.1M |
| 3 |
United Therapeutics
UTHR
|
+$39.2M |
| 4 |
ALXN
Alexion Pharmaceuticals
ALXN
|
+$23.1M |
| 5 |
Insmed
INSM
|
+$18.8M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 87.96% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
BioMarin Pharmaceuticals
BMRN
$13.5B
| $130M | 10.93% |
1,544,163
-476,973
| -24% | -$41.1M |
|
2
STAAR Surgical
STAA
$1.24B
| $106M | 8.86% |
3,278,523
-500,415
| -13% | -$16.9M |
|
|
3
Insmed
INSM
$29B
| $97.1M | 8.13% |
6,055,623
-793,137
| -12% | -$18.8M |
|
|
EPZM
4
DELISTED
Epizyme, Inc
EPZM
| $86.1M | 7.21% |
5,551,803
-594,142
| -10% | -$12.8M |
|
|
5
United Therapeutics
UTHR
$22.1B
| $83.1M | 6.96% |
876,575
-412,327
| -32% | -$39.2M |
|
6
Karyopharm Therapeutics
KPTI
$47.6M
| $82.6M | 6.92% |
286,660
-19,673
| -6% | -$5.43M |
|
|
ABMD
7
DELISTED
Abiomed Inc
ABMD
| $73M | 6.11% |
502,745
-61,423
| -11% | -$10.2M |
|
|
IMMU
8
DELISTED
Immunomedics Inc
IMMU
| $71.3M | 5.97% |
5,290,746
-632,449
| -11% | -$10.6M |
|
9
Acadia Pharmaceuticals
ACAD
$5.07B
| $68.9M | 5.77% |
1,631,524
-273,850
| -14% | -$11.3M |
|
|
FOLD
10
DELISTED
Amicus Therapeutics
FOLD
| $68.8M | 5.76% |
7,447,618
+33,698
| +0.5% | +$320K |
|
|
ALXN
11
DELISTED
Alexion Pharmaceuticals
ALXN
| $57.7M | 4.83% |
642,491
-235,609
| -27% | -$23.1M |
|
|
AIMT
12
DELISTED
Aimmune Therapeutics
AIMT
| $47.5M | 3.98% |
3,295,712
-84,729
| -3% | -$2.17M |
|
13
Vanda Pharmaceuticals
VNDA
$298M
| $42.8M | 3.59% |
4,134,846
-390,630
| -9% | -$4.84M |
|
|
MNTA
14
DELISTED
Momenta Pharmaceuticals, Inc.
MNTA
| $41.6M | 3.48% |
1,527,956
-157,416
| -9% | -$4.38M |
|
|
CLVS
15
DELISTED
Clovis Oncology, Inc.
CLVS
| $29.5M | 2.47% |
4,635,789
-420,497
| -8% | -$3.37M |
|
|
AMAG
16
DELISTED
AMAG Pharmaceuticals
AMAG
| $18.6M | 1.55% |
3,002,748
-41,626
| -1% | -$367K |
|
|
SAGE
17
DELISTED
Sage Therapeutics
SAGE
| $16.8M | 1.41% |
586,674
-66,920
| -10% | -$3.88M |
|
18
Align Technology
ALGN
$12.3B
| $13.3M | 1.11% |
76,205
-51,300
| -40% | -$12.3M |
|
|
19
Puma Biotechnology
PBYI
$453M
| $11.8M | 0.99% |
1,396,163
+46,983
| +3% | +$456K |
|
|
RVNC
20
DELISTED
Revance Therapeutics, Inc.
RVNC
| $9.11M | 0.76% |
615,705
+527,115
| +595% | +$10.9M |
|
21
Prothena Corp
PRTA
$473M
| $8.3M | 0.69% |
775,296
-217,453
| -22% | -$2.63M |
|
|
WMGI
22
DELISTED
Wright Medical Group Inc
WMGI
| $6.96M | 0.58% |
242,940
-2,220,115
| -90% | -$65.9M |
|
|
DRNA
23
DELISTED
Dicerna Pharmaceuticals, Inc.
DRNA
| $6.09M | 0.51% |
331,813
| – | – |
|
24
Rigel Pharmaceuticals
RIGL
$785M
| $5.53M | 0.46% |
354,255
| – | – |
|
|
KLDO
25
DELISTED
Kaleido Biosciences, Inc. Common Stock
KLDO
| $4.85M | 0.41% |
787,999
| – | – |
|
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Palo Alto Investors's Q1 2020 Portfolio in Review
As of Q1 2020, Palo Alto Investors held 40 positions worth $1.19B, down 34% from $1.82B the previous quarter. Its ten largest holdings account for 73% of the portfolio.
Palo Alto Investors withdrew a net $278M in Q1 2020, closing 3 positions and reducing 19 holdings. Its most notable exit was Gilead Sciences, an estimated $2.55M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 88% of assets, up from 84% a quarter earlier.
Against the trend, Palo Alto Investors opened a new position in Travere Therapeutics worth $686K.
- Palo Alto Investors's largest Q1 2020 buy was Travere Therapeutics: 47,000 shares worth $686K.
- Palo Alto Investors added most to Revance Therapeutics, Inc. in Q1 2020, an estimated $10.9M increase.
- Palo Alto Investors's biggest Q1 2020 reduction was Wright Medical Group Inc, cutting an estimated $65.9M.
- Palo Alto Investors fully exited Gilead Sciences in Q1 2020, selling an estimated $2.55M.
- Palo Alto Investors's ten largest holdings make up 73% of its $1.19B portfolio in Q1 2020.
- Palo Alto Investors opened 3 new positions and closed 3 in Q1 2020.
- Palo Alto Investors's portfolio value fell 34% quarter-over-quarter to $1.19B.
Based on Palo Alto Investors's 13F filing for Q1 2020, filed 15 May 2020.