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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
+5.9%
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
$1.17B
AUM Growth
-$91.9M
Cap. Flow
-$101M
Cap. Flow %
-8.62%
Top 10 Hldgs %
89.35%
Holding
33
New
1
Increased
11
Reduced
5
Closed
4

Top Buys

Rank Stock Value
1
RVNC
Revance Therapeutics, Inc.
RVNC
+$20.1M
2
ACAD icon
Acadia Pharmaceuticals
ACAD
+$10.9M
3
STAA icon
STAAR Surgical
STAA
+$8.98M
4
FOLD
Amicus Therapeutics
FOLD
+$7.27M
5
ALGN icon
Align Technology
ALGN
+$6.07M

Top Sells

Rank Stock Value
1
ABMD
Abiomed Inc
ABMD
+$121M
2
GOSS icon
Gossamer Bio
GOSS
+$14.1M
3
VNDA icon
Vanda Pharmaceuticals
VNDA
+$10.5M
4
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$8.49M
5
CLVS
Clovis Oncology, Inc.
CLVS
+$5.32M

Sector Composition

Rank Sector Weight
1 Healthcare 98.97%
2 Financials 1.03%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
BMRN icon
1
BioMarin Pharmaceuticals
BMRN
$13.5B
$195M 16.64%
1,885,811
-90,454
-5% -$8.49M
UTHR icon
2
United Therapeutics
UTHR
$22.1B
$174M 14.83%
625,414
-8,120
-1% -$2.05M
FOLD
3
DELISTED
Amicus Therapeutics
FOLD
$128M 10.92%
10,493,722
+645,948
+7% +$7.27M
INSM icon
4
Insmed
INSM
$29B
$117M 10%
5,871,291
+30,893
+0.5% +$597K
BIIB icon
5
Biogen
BIIB
$30.1B
$105M 8.97%
380,082
+19,101
+5% +$5.39M
PRTA icon
6
Prothena Corp
PRTA
$473M
$99.9M 8.52%
1,658,577
+8,800
+0.5% +$515K
RVNC
7
DELISTED
Revance Therapeutics, Inc.
RVNC
$97.5M 8.32%
5,283,609
+878,570
+20% +$20.1M
STAA icon
8
STAAR Surgical
STAA
$1.24B
$60.2M 5.13%
1,240,077
+143,195
+13% +$8.98M
ACAD icon
9
Acadia Pharmaceuticals
ACAD
$5.07B
$37.8M 3.23%
2,376,369
+698,173
+42% +$10.9M
SAGE
10
DELISTED
Sage Therapeutics
SAGE
$32.7M 2.79%
856,517
+5,108
+0.6% +$195K
KPTI icon
11
Karyopharm Therapeutics
KPTI
$47.6M
$19.2M 1.64%
377,045
+2,276
+0.6% +$158K
ALKS icon
12
Alkermes
ALKS
$8.26B
$15.8M 1.34%
603,400
– –
ALGN icon
13
Align Technology
ALGN
$12.3B
$15.7M 1.34%
74,605
+30,300
+68% +$6.07M
SNDX icon
14
Syndax Pharmaceuticals
SNDX
$1.81B
$15.6M 1.33%
612,600
– –
ANAB icon
15
AnaptysBio
ANAB
$1.71B
$13.4M 1.14%
431,024
– –
EHTH icon
16
eHealth
EHTH
$39.1M
$12M 1.03%
2,484,479
+506,486
+26% +$1.89M
VNDA icon
17
Vanda Pharmaceuticals
VNDA
$298M
$8.04M 0.69%
1,087,607
-1,078,549
-50% -$10.5M
CYTK icon
18
Cytokinetics
CYTK
$10.6B
$5.12M 0.44%
111,717
– –
KZR
19
DELISTED
Kezar Life Sciences
KZR
$4.62M 0.39%
65,620
– –
PRVB
20
DELISTED
Provention Bio, Inc. Common Stock
PRVB
$4.13M 0.35%
390,800
– –
TVTX icon
21
Travere Therapeutics
TVTX
$5.68B
$3.49M 0.3%
166,069
– –
GRTS
22
DELISTED
Gritstone bio, Inc. Common Stock
GRTS
$2.3M 0.2%
666,127
-1,664,377
-71% -$4.75M
PKBO
23
DELISTED
Peak Bio, Inc. Common Stock
PKBO
$2.02M 0.17%
+497,528
New +$3.46M
MIRM icon
24
Mirum Pharmaceuticals
MIRM
$5.99B
$1.26M 0.11%
64,700
– –
ALDX icon
25
Aldeyra Therapeutics
ALDX
$91.1M
$1.12M 0.1%
160,800
– –
1
2

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BL
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CG
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GAMA
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PIM
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RK
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Palo Alto Investors's Q4 2022 Portfolio in Review

As of Q4 2022, Palo Alto Investors held 33 positions worth $1.17B, down 7.3% from $1.26B the previous quarter. Its ten largest holdings account for 89% of the portfolio.

Palo Alto Investors withdrew a net $101M in Q4 2022, closing 4 positions and reducing 5 holdings. Its most notable exit was Abiomed Inc, an estimated $121M position sold in full.

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

Against the trend, Palo Alto Investors opened a new position in Peak Bio, Inc. Common Stock worth $2.02M.

  • Palo Alto Investors's largest Q4 2022 buy was Peak Bio, Inc. Common Stock: 497,528 shares worth $2.02M.
  • Palo Alto Investors added most to Revance Therapeutics, Inc. in Q4 2022, an estimated $20.1M increase.
  • Palo Alto Investors's biggest Q4 2022 reduction was Gossamer Bio, cutting an estimated $14.1M.
  • Palo Alto Investors fully exited Abiomed Inc in Q4 2022, selling an estimated $121M.
  • Palo Alto Investors's ten largest holdings make up 89% of its $1.17B portfolio in Q4 2022.
  • Palo Alto Investors opened 1 new position and closed 4 in Q4 2022.
  • Palo Alto Investors's portfolio value fell 7.3% quarter-over-quarter to $1.17B.

Based on Palo Alto Investors's 13F filing for Q4 2022, filed 14 Feb 2023.