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Palo Alto Investors LP

Q2 2025 · Filed 2025-08-14
Market Value
$469M
-10.3%
Holdings
46
+6
New Purchases
7
Added To
5
Closed
4
Reduced
15
Top 10 Concentration
75.4%
Turnover
23.9%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
INSM 18.56% 14.41% +4.16% $87M
ACAD 11.79% 8.46% +3.32% $55M
IRON 1.65% 0.00% +1.65% $8M
STAA 2.83% 1.77% +1.06% $13M
ALNY 5.25% 4.31% +0.94% $25M
RNAM 0.72% 0.00% +0.72% $3M
DNLI 0.72% 0.00% +0.72% $3M
CRSP 0.46% 0.00% +0.46% $2M
RARE 0.38% 0.00% +0.38% $2M
ALGN 1.52% 1.15% +0.38% $7M
AGIO 1.91% 1.55% +0.36% $9M
PTCT 4.23% 3.94% +0.29% $20M
NVCR 3.65% 3.42% +0.24% $17M
TSHA 0.61% 0.38% +0.24% $3M
ANAB 3.85% 3.63% +0.22% $18M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
FOLD 6.85% 11.46% -4.61% $32M
BMRN 9.85% 13.40% -3.55% $46M
SRPT 0.00% 2.57% -2.57% $0
PRTA 1.65% 3.93% -2.28% $8M
SLRN 0.00% 0.85% -0.85% $0
IOVA 1.26% 2.05% -0.79% $6M
EHTH 1.46% 2.15% -0.69% $7M
VERV 0.00% 0.50% -0.50% $0
UTHR 5.85% 6.20% -0.36% $27M
SNDX 0.89% 1.04% -0.16% $4M
DYN 0.54% 0.67% -0.13% $3M
ALDX 0.18% 0.25% -0.06% $864K
ALKS 1.35% 1.40% -0.05% $6M
BCYC 0.37% 0.40% -0.04% $2M
TVTX 0.35% 0.38% -0.03% $2M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 11 $230M 49.1%
Mid Cap 14 $172M 36.6%
Small Cap 14 $50M 10.6%
Micro Cap 7 $17M 3.7%

Portfolio Analytics

Avg Market Cap
$7.5B
Median Market Cap
$2.4B
Avg P/E
27.6
Median P/E
27.1
Avg Dividend Yield
0.00%
Avg Beta
0.92
# Stocks
46
# ETFs / Funds
0

Top Holdings (46 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 INSM 18.56% 865,113 $87M $100.64 $12M -122,040 -12.4%
2 ACAD 11.79% 2,563,209 $55M $21.57 $11M -100,716 -3.8%
3 BMRN 9.85% 840,470 $46M $54.97 -$24M -150,737 -15.2%
4 FOLD 6.85% 5,610,513 $32M $5.73 -$28M -1,734,489 -23.6%
5 UTHR 5.85% 95,482 $27M $287.35 -$5M -9,746 -9.3%
6 BIIB 5.51% 205,759 $26M $125.59 -$2M +836 +0.4%
7 ALNY 5.25% 75,535 $25M $326.09 $2M -7,953 -9.5%
8 PTCT 4.23% 406,469 $20M $48.84 -$746K +2,273 +0.6%
9 ANAB 3.85% 812,821 $18M $22.20 -$930K -207,892 -20.4%
10 NVCR 3.65% 962,396 $17M $17.80 -$726K -39,665 -4.0%
11 STAA 2.83% 791,879 $13M $16.78 $4M +266,862 +50.8%
12 AGIO 1.91% 268,783 $9M $33.26 $836K -7,795 -2.8%
13 PRTA 1.65% 1,274,753 $8M $6.07 -$13M -384,981 -23.2%
14 IRON 1.65% 145,691 $8M $52.96 +145,691 NEW
15 ALGN 1.52% 37,772 $7M $189.33 $1M
16 GOSS 1.50% 5,739,013 $7M $1.23 $154K -537,880 -8.6%
17 EHTH 1.46% 1,577,850 $7M $4.35 -$4M -106,486 -6.3%
18 ALKS 1.35% 221,021 $6M $28.61 -$991K -492 -0.2%
19 IOVA 1.26% 3,429,329 $6M $1.72 -$5M +218,015 +6.8%
20 SNDX 0.89% 444,367 $4M $9.37 -$1M
21 RNAM 0.72% 118,886 $3M $28.40 +118,886 NEW
22 DNLI 0.72% 239,809 $3M $13.99 +239,809 NEW
23 MIRM 0.70% 64,700 $3M $50.89 $378K
24 EW 0.66% 39,473 $3M $78.21 $226K
25 TSHA 0.61% 1,246,033 $3M $2.31 $905K -173,435 -12.2%
26 BNTX 0.57% 25,206 $3M $106.47 $388K
27 DYN 0.54% 264,976 $3M $9.52 -$965K -68,415 -20.5%
28 CRSP 0.46% 44,625 $2M $48.64 +44,625 NEW
29 ACRS 0.42% 1,390,028 $2M $1.42 $787K +614,000 +79.1%
30 RARE 0.38% 48,750 $2M $36.36 +48,750 NEW
31 BCYC 0.37% 248,934 $2M $6.95 -$383K
32 NBIX 0.36% 13,334 $2M $125.69 $201K
33 TVTX 0.35% 110,719 $2M $14.80 -$345K
34 NUVB 0.32% 772,652 $2M $1.95 $147K
35 STOK 0.30% 125,861 $1M $11.35 $592K
36 PYXS 0.24% 1,037,421 $1M $1.10 $125K
37 HUM 0.21% 3,985 $974K $244.48 -$80K
38 ALDX 0.18% 225,465 $864K $3.83 -$433K
39 KPTI 0.17% 187,911 $810K $4.31 +187,911 NEW
40 0H7R.L 0.13% 108,865 $618K $5.68 $100K
41 ALMS 0.09% 143,437 $430K $3.00 +143,437 NEW
42 URGN 0.07% 24,500 $336K $13.70 $65K
43 VERV —% -$3M -575,817 -100.0% SOLD
44 RLMD —% -$134K -495,146 -100.0% SOLD
45 SRPT —% -$13M -210,258 -100.0% SOLD
46 SLRN —% -$4M -1,792,895 -100.0% SOLD

New Positions

SymbolValue% Port
IRON $8M 1.65%
RNAM $3M 0.72%
DNLI $3M 0.72%
CRSP $2M 0.46%
RARE $2M 0.38%
KPTI $810K 0.17%
ALMS $430K 0.09%

Sold Out Positions

SymbolValue% Port
RLMD —%
SRPT —%
SLRN —%
VERV —%
View SEC EDGAR Filings for Palo Alto Investors LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms