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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
+1.52%
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
$887M
AUM Growth
-$223M
Cap. Flow
-$103M
Cap. Flow %
-11.56%
Top 10 Hldgs %
73.36%
Holding
40
New
6
Increased
12
Reduced
9
Closed
2

Top Buys

Rank Stock Value
1
SLRN
ACELYRIN
SLRN
+$13M
2
ALNY icon
Alnylam Pharmaceuticals
ALNY
+$4.73M
3
ELEV
Elevation Oncology
ELEV
+$4.36M
4
ANAB icon
AnaptysBio
ANAB
+$2.68M
5
BLUE
bluebird bio
BLUE
+$1.57M

Top Sells

Rank Stock Value
1
BMRN icon
BioMarin Pharmaceuticals
BMRN
+$32.8M
2
INSM icon
Insmed
INSM
+$30.5M
3
UTHR icon
United Therapeutics
UTHR
+$28.9M
4
BIIB icon
Biogen
BIIB
+$21.2M
5
FOLD
Amicus Therapeutics
FOLD
+$13.2M

Sector Composition

Rank Sector Weight
1 Healthcare 98.15%
2 Financials 1.85%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
INSM icon
1
Insmed
INSM
$29B
$120M 13.53%
4,423,369
-1,088,352
-20% -$30.5M
FOLD
2
DELISTED
Amicus Therapeutics
FOLD
$110M 12.41%
9,344,102
-1,029,613
-10% -$13.2M
BMRN icon
3
BioMarin Pharmaceuticals
BMRN
$13.5B
$99.1M 11.18%
1,134,569
-366,180
-24% -$32.8M
BIIB icon
4
Biogen
BIIB
$30.1B
$62.5M 7.05%
289,958
-90,459
-24% -$21.2M
UTHR icon
5
United Therapeutics
UTHR
$22.1B
$61.5M 6.94%
267,759
-128,025
-32% -$28.9M
STAA icon
6
STAAR Surgical
STAA
$1.24B
$52.8M 5.96%
1,379,590
+2,640
+0.2% +$85.8K
ACAD icon
7
Acadia Pharmaceuticals
ACAD
$5.07B
$44.7M 5.04%
2,414,943
+5,387
+0.2% +$133K
PRTA icon
8
Prothena Corp
PRTA
$473M
$41.2M 4.65%
1,663,448
+3,391
+0.2% +$101K
IOVA icon
9
Iovance Biotherapeutics
IOVA
$2.94B
$31.3M 3.53%
2,112,811
+6,019
+0.3% +$70.1K
ALNY icon
10
Alnylam Pharmaceuticals
ALNY
$29.6B
$27.3M 3.08%
182,766
+28,329
+18% +$4.73M
SRPT icon
11
Sarepta Therapeutics
SRPT
$1.92B
$26.1M 2.94%
201,265
+360
+0.2% +$44.1K
RVNC
12
DELISTED
Revance Therapeutics, Inc.
RVNC
$25.8M 2.91%
5,248,004
+10,720
+0.2% +$63.5K
SAGE
13
DELISTED
Sage Therapeutics
SAGE
$18.8M 2.13%
1,005,776
+14,251
+1% +$329K
ANAB icon
14
AnaptysBio
ANAB
$1.71B
$18M 2.03%
799,906
+113,024
+16% +$2.68M
EHTH icon
15
eHealth
EHTH
$39.1M
$16.4M 1.85%
2,715,681
-23,698
-0.9% -$157K
ALGN icon
16
Align Technology
ALGN
$12.3B
$16.1M 1.82%
49,105
-6,600
-12% -$1.94M
ALKS icon
17
Alkermes
ALKS
$8.26B
$13.4M 1.51%
495,592
-107,808
-18% -$3.06M
SLRN
18
DELISTED
ACELYRIN
SLRN
$11.6M 1.31%
+1,715,180
New +$13M
NVRO
19
DELISTED
NEVRO CORP.
NVRO
$10.8M 1.22%
750,371
– –
SNDX icon
20
Syndax Pharmaceuticals
SNDX
$1.81B
$9.64M 1.09%
405,193
-67,407
-14% -$1.5M
NVCR icon
21
NovoCure
NVCR
$2.06B
$8.78M 0.99%
561,908
– –
CYTK icon
22
Cytokinetics
CYTK
$10.6B
$7.83M 0.88%
111,717
– –
KPTI icon
23
Karyopharm Therapeutics
KPTI
$47.6M
$7.7M 0.87%
340,146
– –
VERV
24
DELISTED
Verve Therapeutics
VERV
$7.65M 0.86%
575,817
– –
GOSS icon
25
Gossamer Bio
GOSS
$88.9M
$7.54M 0.85%
6,391,775
+432,887
+7% +$476K
1
2

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Palo Alto Investors's Q1 2024 Portfolio in Review

As of Q1 2024, Palo Alto Investors held 40 positions worth $887M, down 20% from $1.11B the previous quarter. Its ten largest holdings account for 73% of the portfolio.

Palo Alto Investors withdrew a net $103M in Q1 2024, closing 2 positions and reducing 9 holdings. Its most notable exit was Vanda Pharmaceuticals, an estimated $1.18M position sold in full.

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

Against the trend, Palo Alto Investors opened a new position in ACELYRIN worth $11.6M.

  • Palo Alto Investors's largest Q1 2024 buy was ACELYRIN: 1,715,180 shares worth $11.6M.
  • Palo Alto Investors added most to Alnylam Pharmaceuticals in Q1 2024, an estimated $4.73M increase.
  • Palo Alto Investors's biggest Q1 2024 reduction was BioMarin Pharmaceuticals, cutting an estimated $32.8M.
  • Palo Alto Investors fully exited Vanda Pharmaceuticals in Q1 2024, selling an estimated $1.18M.
  • Palo Alto Investors's ten largest holdings make up 73% of its $887M portfolio in Q1 2024.
  • Palo Alto Investors opened 6 new positions and closed 2 in Q1 2024.
  • Palo Alto Investors's portfolio value fell 20% quarter-over-quarter to $887M.

Based on Palo Alto Investors's 13F filing for Q1 2024, filed 15 May 2024.