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Palo Alto Investors LP
hedge fundUpdated 22 days agoManaged by Palo Alto Investors Lp • Latest filing Q2 2026
Portfolio value
$723.7M
Q2 2026
Filings
14
Quarterly 13F history
Top-10 concentration
100.0%
Weight of largest holdings
Annualized return
-14.6%
Implied from 13F holdings
Portfolio value history
13F-disclosed portfolio value over 14 quarters
Show data table
| Period | Portfolio value |
|---|---|
| Q1 2023 | $1.2B |
| Q2 2023 | $1.2B |
| Q3 2023 | $1.1B |
| Q4 2023 | $1.1B |
| Q1 2024 | $886.7M |
| Q2 2024 | $863M |
| Q3 2024 | $769.9M |
| Q4 2024 | $645.4M |
| Q1 2025 | $525.1M |
| Q2 2025 | $470M |
| Q3 2025 | $540.4M |
| Q4 2025 | $718.4M |
| Q1 2026 | $653.9M |
| Q2 2026 | $723.7M |
Top holdings
52 positions as of Q2 2026
| # | Stock | Value | Shares | % Portfolio | Change |
|---|---|---|---|---|---|
| 1 | ? N/A PTC THERAPEUTICS INC | $75M | 918.8K | 10.36% | — |
| 2 | A ACAD ACADIA PHARMACEUTICALS INC | $72.5M | 2.86M | 10.01% | — |
| 3 | I INSM INSMED INC | $44.1M | 414.0K | 6.10% | — |
| 4 | M MIRM MIRUM PHARMACEUTICALS INC | $40.8M | 348.8K | 5.64% | — |
| 5 | A ADI ANAPTYSBIO INC | $40.7M | 603.5K | 5.63% | — |
| 6 | B BMRN BIOMARIN PHARMACEUTICAL INC | $39.1M | 682.8K | 5.40% | — |
| 7 | D DYN DYNE THERAPEUTICS INC | $36.6M | 1.65M | 5.06% | — |
| 8 | U UTHR UNITED THERAPEUTICS CORP | $33.9M | 62.6K | 4.69% | — |
| 9 | I IRON DISC MEDICINE INC | $30.5M | 416.6K | 4.21% | — |
| 10 | B BIIB BIOGEN INC | $30.3M | 140.3K | 4.19% | — |
| 11 | J JPM-PM IOVANCE BIOTHERAPEUTICS INC | $22M | 5.30M | 3.04% | — |
| 12 | R RARE ULTRAGENYX PHARMACEUTICAL IN | $19.9M | 596.5K | 2.75% | — |
| 13 | N NVCR NOVOCURE LTD | $19.4M | 1.28M | 2.68% | — |
| 14 | S SNDX SYNDAX PHARMACEUTICALS INC | $18.9M | 865.0K | 2.61% | — |
| 15 | A ANNX ANNEXON INC | $16.8M | 2.95M | 2.33% | — |
| 16 | B BCAX BICARA THERAPEUTICS INC | $16.3M | 550.4K | 2.26% | — |
| 17 | C CDNA CAREDX INC | $15.2M | 531.9K | 2.09% | — |
| 18 | C CLDX CELLDEX THERAPEUTICS INC | $14.9M | 399.9K | 2.06% | — |
| 19 | ? N/A COMPASS THERAPEUTICS INC | $12.8M | 5.83M | 1.76% | — |
| 20 | A ALKS ALKERMES PLC | $12.7M | 242.6K | 1.76% | — |