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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
+10.49%
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
$1.11B
AUM Growth
+$53M
Cap. Flow
-$7.26M
Cap. Flow %
-0.65%
Top 10 Hldgs %
81.32%
Holding
36
New
7
Increased
8
Reduced
10
Closed
2

Top Buys

Rank Stock Value
1
ALNY icon
Alnylam Pharmaceuticals
ALNY
+$26.3M
2
IOVA icon
Iovance Biotherapeutics
IOVA
+$11M
3
SRPT icon
Sarepta Therapeutics
SRPT
+$10.3M
4
BLUE
bluebird bio
BLUE
+$10.2M
5
VERV
Verve Therapeutics
VERV
+$7.14M

Top Sells

Rank Stock Value
1
UTHR icon
United Therapeutics
UTHR
+$41.5M
2
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$29.2M
3
INSM icon
Insmed
INSM
+$9.8M
4
FOLD
Amicus Therapeutics
FOLD
+$1.71M
5
NVCR icon
NovoCure
NVCR
+$1.32M

Sector Composition

Rank Sector Weight
1 Healthcare 97.85%
2 Financials 2.15%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
INSM icon
1
Insmed
INSM
$29B
$171M 15.39%
5,511,721
-377,770
-6% -$9.8M
FOLD
2
DELISTED
Amicus Therapeutics
FOLD
$147M 13.26%
10,373,715
-150,307
-1% -$1.71M
BMRN icon
3
BioMarin Pharmaceuticals
BMRN
$13.4B
$145M 13.04%
1,500,749
-330,286
-18% -$29.2M
BIIB icon
4
Biogen
BIIB
$30.3B
$98.4M 8.87%
380,417
-865
-0.2% -$212K
UTHR icon
5
United Therapeutics
UTHR
$22B
$87M 7.84%
395,784
-180,123
-31% -$41.5M
ACAD icon
6
Acadia Pharmaceuticals
ACAD
$5.07B
$75.4M 6.8%
2,409,556
+3,763
+0.2% +$89.9K
PRTA icon
7
Prothena Corp
PRTA
$474M
$60.3M 5.44%
1,660,057
+2,599
+0.2% +$100K
RVNC
8
DELISTED
Revance Therapeutics, Inc.
RVNC
$46M 4.15%
5,237,284
+8,675
+0.2% +$71.1K
STAA icon
9
STAAR Surgical
STAA
$1.25B
$43M 3.87%
1,376,950
+2,128
+0.2% +$76.5K
ALNY icon
10
Alnylam Pharmaceuticals
ALNY
$29.5B
$29.6M 2.66%
+154,437
New +$26.3M
EHTH icon
11
eHealth
EHTH
$40.4M
$23.9M 2.15%
2,739,379
– –
SAGE
12
DELISTED
Sage Therapeutics
SAGE
$21.5M 1.94%
991,525
-14,251
-1% -$282K
SRPT icon
13
Sarepta Therapeutics
SRPT
$1.9B
$19.4M 1.75%
200,905
+106,875
+114% +$10.3M
IOVA icon
14
Iovance Biotherapeutics
IOVA
$2.92B
$17.1M 1.54%
+2,106,792
New +$11M
ALKS icon
15
Alkermes
ALKS
$8.28B
$16.7M 1.51%
603,400
– –
NVRO
16
DELISTED
NEVRO CORP.
NVRO
$16.1M 1.45%
750,371
+363,539
+94% +$6.49M
ALGN icon
17
Align Technology
ALGN
$12.4B
$15.3M 1.38%
55,705
– –
ANAB icon
18
AnaptysBio
ANAB
$1.69B
$14.7M 1.33%
686,882
+255,658
+59% +$4.41M
SNDX icon
19
Syndax Pharmaceuticals
SNDX
$1.8B
$10.2M 0.92%
472,600
– –
CYTK icon
20
Cytokinetics
CYTK
$10.7B
$9.33M 0.84%
111,717
– –
NVCR icon
21
NovoCure
NVCR
$2.05B
$8.39M 0.76%
561,908
-98,367
-15% -$1.32M
VERV
22
DELISTED
Verve Therapeutics
VERV
$8.03M 0.72%
+575,817
New +$7.14M
GOSS icon
23
Gossamer Bio
GOSS
$89.4M
$6.53M 0.59%
5,958,888
-571,400
-9% -$422K
BLUE
24
DELISTED
bluebird bio
BLUE
$4.6M 0.41%
+166,667
New +$10.2M
KPTI icon
25
Karyopharm Therapeutics
KPTI
$48.3M
$4.41M 0.4%
340,146
-38,246
-10% -$515K
1
2

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Palo Alto Investors's Q4 2023 Portfolio in Review

As of Q4 2023, Palo Alto Investors held 36 positions worth $1.11B, up 5% from $1.06B the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Palo Alto Investors's Q4 2023 filing shows 7 new, 8 increased, 10 reduced and 2 closed positions. Its largest new stake was Alnylam Pharmaceuticals: 154,437 shares worth $29.6M. The largest sale was United Therapeutics, an estimated $41.5M.

By sector, the portfolio is most concentrated in Healthcare at 98% of assets, down from 98% a quarter earlier, followed by Financials.

  • Palo Alto Investors's largest Q4 2023 buy was Alnylam Pharmaceuticals: 154,437 shares worth $29.6M.
  • Palo Alto Investors added most to Sarepta Therapeutics in Q4 2023, an estimated $10.3M increase.
  • Palo Alto Investors's biggest Q4 2023 reduction was United Therapeutics, cutting an estimated $41.5M.
  • Palo Alto Investors fully exited Kezar Life Sciences in Q4 2023, selling an estimated $781K.
  • Palo Alto Investors's ten largest holdings make up 81% of its $1.11B portfolio in Q4 2023.
  • Palo Alto Investors opened 7 new positions and closed 2 in Q4 2023.
  • Palo Alto Investors's portfolio value rose 5% quarter-over-quarter to $1.11B.

Based on Palo Alto Investors's 13F filing for Q4 2023, filed 14 Feb 2024.