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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
+0.2%
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
$645M
AUM Growth
-$124M
Cap. Flow
-$65.6M
Cap. Flow %
-10.17%
Top 10 Hldgs %
76.62%
Holding
47
New
2
Increased
6
Reduced
10
Closed
4

Top Buys

Rank Stock Value
1
PTCT icon
PTC Therapeutics
PTCT
+$5.22M
2
NVCR icon
NovoCure
NVCR
+$4.67M
3
BCYC
Bicycle Therapeutics
BCYC
+$4.06M
4
ACAD icon
Acadia Pharmaceuticals
ACAD
+$3.63M
5
PYXS icon
Pyxis Oncology
PYXS
+$2.5M

Top Sells

Rank Stock Value
1
INSM icon
Insmed
INSM
+$24.3M
2
STAA icon
STAAR Surgical
STAA
+$16.9M
3
UTHR icon
United Therapeutics
UTHR
+$10.1M
4
RVNC
Revance Therapeutics, Inc.
RVNC
+$8.37M
5
SAGE
Sage Therapeutics
SAGE
+$7.3M

Sector Composition

Rank Sector Weight
1 Healthcare 97.26%
2 Financials 2.74%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
INSM icon
1
Insmed
INSM
$29.2B
$111M 17.15%
1,603,465
-337,528
-17% -$24.3M
FOLD
2
DELISTED
Amicus Therapeutics
FOLD
$72.2M 11.18%
7,662,479
-482,832
-6% -$5.02M
BMRN icon
3
BioMarin Pharmaceuticals
BMRN
$13.4B
$70.2M 10.87%
1,067,266
-22,790
-2% -$1.53M
UTHR icon
4
United Therapeutics
UTHR
$22.5B
$54.9M 8.51%
155,714
-27,532
-15% -$10.1M
ACAD icon
5
Acadia Pharmaceuticals
ACAD
$5.07B
$50.4M 7.82%
2,748,599
+224,643
+9% +$3.63M
ALNY icon
6
Alnylam Pharmaceuticals
ALNY
$29.3B
$33.1M 5.13%
140,681
– –
BIIB icon
7
Biogen
BIIB
$30.3B
$29.1M 4.51%
190,148
-38,768
-17% -$6.54M
SRPT icon
8
Sarepta Therapeutics
SRPT
$1.88B
$25.6M 3.96%
210,258
– –
NVCR icon
9
NovoCure
NVCR
$2.03B
$24.3M 3.76%
814,191
+220,651
+37% +$4.67M
PRTA icon
10
Prothena Corp
PRTA
$470M
$24.1M 3.73%
1,737,964
– –
IOVA icon
11
Iovance Biotherapeutics
IOVA
$2.89B
$22.5M 3.49%
3,041,685
– –
EHTH icon
12
eHealth
EHTH
$39.4M
$17.7M 2.74%
1,878,127
-469,392
-20% -$2.61M
PTCT icon
13
PTC Therapeutics
PTCT
$6.12B
$17.4M 2.7%
386,413
+121,944
+46% +$5.22M
STAA icon
14
STAAR Surgical
STAA
$1.25B
$12.2M 1.88%
500,775
-590,833
-54% -$16.9M
ANAB icon
15
AnaptysBio
ANAB
$1.67B
$11.2M 1.73%
843,971
– –
ALKS icon
16
Alkermes
ALKS
$8.3B
$8.32M 1.29%
289,308
-95,348
-25% -$2.74M
ALGN icon
17
Align Technology
ALGN
$12.4B
$7.88M 1.22%
37,772
– –
GOSS icon
18
Gossamer Bio
GOSS
$89.5M
$5.68M 0.88%
6,277,093
– –
SLRN
19
DELISTED
ACELYRIN
SLRN
$5.63M 0.87%
1,792,895
– –
SNDX icon
20
Syndax Pharmaceuticals
SNDX
$1.8B
$5.36M 0.83%
405,193
– –
BCYC
21
Bicycle Therapeutics
BCYC
$289M
$3.49M 0.54%
248,934
+189,352
+318% +$4.06M
KPTI icon
22
Karyopharm Therapeutics
KPTI
$47.1M
$3.32M 0.51%
327,133
-13,013
-4% -$157K
VERV
23
DELISTED
Verve Therapeutics
VERV
$3.25M 0.5%
575,817
– –
EW icon
24
Edwards Lifesciences
EW
$53.8B
$2.92M 0.45%
39,473
– –
BNTX icon
25
BioNTech
BNTX
$23.2B
$2.87M 0.45%
25,206
– –
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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ACA
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CAAM
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Palo Alto Investors's Q4 2024 Portfolio in Review

As of Q4 2024, Palo Alto Investors held 47 positions worth $645M, down 16% from $770M the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Palo Alto Investors withdrew a net $65.6M in Q4 2024, closing 4 positions and reducing 10 holdings. Its most notable exit was Revance Therapeutics, Inc., an estimated $8.37M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 97% of assets, down from 99% a quarter earlier, followed by Financials.

Against the trend, Palo Alto Investors opened a new position in Jasper Therapeutics worth $655K.

  • Palo Alto Investors's largest Q4 2024 buy was Jasper Therapeutics: 30,651 shares worth $655K.
  • Palo Alto Investors added most to PTC Therapeutics in Q4 2024, an estimated $5.22M increase.
  • Palo Alto Investors's biggest Q4 2024 reduction was Insmed, cutting an estimated $24.3M.
  • Palo Alto Investors fully exited Revance Therapeutics, Inc. in Q4 2024, selling an estimated $8.37M.
  • Palo Alto Investors's ten largest holdings make up 77% of its $645M portfolio in Q4 2024.
  • Palo Alto Investors opened 2 new positions and closed 4 in Q4 2024.
  • Palo Alto Investors's portfolio value fell 16% quarter-over-quarter to $645M.

Based on Palo Alto Investors's 13F filing for Q4 2024, filed 14 Feb 2025.