Palo Alto Investors LP
Filing Date
Global Rank
#2,344
/ 8,700
▲ 700
Top Industry
Biotechnology
82.1%
Period ended 3 months ago
Filed Aug 19, 2026 · 26d
26 quarters · since Mar 2020
Portfolio Concentration
52 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026Top Position
10.4%
−0.3 pts
Top 5
37.7%
−4.7 pts
Top 10
61.3%
−4.2 pts
HHI
490
Diversified−59
Portfolio Trend
26 quarters · across all stocks
Sector Breakdown
As of Jun 30, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 99.7% | $721,510,108 |
| Financial Services | 0.3% | $2,209,367 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
5 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| CMPX | Compass Therapeutics, Inc. | +4,317,309 | 5,831,813 | $12,771,670 | |
| CLDX | Celldex Therapeutics, Inc. | +103,448 | 399,856 | $14,878,641 | |
| VSTM | Verastem, Inc. | +63,592 | 309,685 | $1,182,996 | |
| MIRM | Mirum Pharmaceuticals, Inc. | +23,633 | 348,808 | $40,834,952 | |
| IRON | Disc Medicine, Inc. | +14,927 | 416,646 | $30,473,488 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
15 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| IOVA | Iovance Biotherapeutics, Inc. | −1,053,354 | 5,296,209 | $22,032,229 | |
| NUVB | Nuvation Bio Inc. | −182,237 | 326,609 | $1,855,139 | |
| PYXS | Pyxis Oncology, Inc. | −146,233 | 864,277 | $2,601,473 | |
| PRTA | Prothena Corp Public Ltd Co | −65,413 | 1,143,155 | $11,191,487 | |
| TVTX | Travere Therapeutics, Inc. | −62,928 | 167,525 | $9,517,095 | |
| ANAB | Anaptysbio, Inc | −34,672 | 603,489 | $40,735,507 | |
| ORKA | Oruka Therapeutics, Inc. | −26,439 | 33,546 | $3,192,572 | |
| ALGN | Align Technology Inc | −10,131 | 31,389 | $5,294,068 | |
| ACAD | Acadia Pharmaceuticals Inc | −8,599 | 2,864,096 | $72,461,628 | |
| DYN | Dyne Therapeutics, Inc. | −5,451 | 1,647,521 | $36,591,441 | |
| PTCT | Ptc Therapeutics, Inc. | −2,761 | 918,846 | $74,950,268 | |
| BMRN | Biomarin Pharmaceutical Inc | −2,405 | 682,777 | $39,068,499 | |
| INSM | INSMED Inc | −1,289 | 413,980 | $44,138,547 | |
| BIIB | Biogen Inc. | −440 | 140,279 | $30,308,680 | |
| UTHR | UNITED THERAPEUTICS Corp | −222 | 62,587 | $33,911,514 | |
| No positions match the current search. | |||||
Sold Out
Positions the filer fully exited
2 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| DNLI | Denali Therapeutics Inc. | 234,582 | $4,503,974 | |
| — | 1,113,045 | $0 | ||
| No positions match the current search. | ||||
52 tracked positions ·
$723,719,475 total
· filing declares
52 positions · $723,718,198
· as of Jun 30, 2026
Showing 1–50
of 52 positions by value
· page 1 of 2
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| PTCT |
Ptc Therapeutics, Inc.
Healthcare
|
Reduced | 918,846 | $74,950,268 | 10.36% | |
| ACAD |
Acadia Pharmaceuticals Inc
Healthcare
|
Reduced | 2,864,096 | $72,461,628 | 10.01% | |
| INSM |
INSMED Inc
Healthcare
|
Reduced | 413,980 | $44,138,547 | 6.10% | |
| MIRM |
Mirum Pharmaceuticals, Inc.
Healthcare
|
Added | 348,808 | $40,834,952 | 5.64% | |
| ANAB |
Anaptysbio, Inc
Healthcare
|
Reduced | 603,489 | $40,735,507 | 5.63% | |
| BMRN |
Biomarin Pharmaceutical Inc
Healthcare
|
Reduced | 682,777 | $39,068,499 | 5.40% | |
| DYN |
Dyne Therapeutics, Inc.
Healthcare
|
Reduced | 1,647,521 | $36,591,441 | 5.06% | |
| UTHR |
UNITED THERAPEUTICS Corp
Healthcare
|
Reduced | 62,587 | $33,911,514 | 4.69% | |
| IRON |
Disc Medicine, Inc.
Healthcare
|
Added | 416,646 | $30,473,488 | 4.21% | |
| BIIB |
Biogen Inc.
Healthcare
|
Reduced | 140,279 | $30,308,680 | 4.19% | |
| IOVA |
Iovance Biotherapeutics, Inc.
Healthcare
|
Reduced | 5,296,209 | $22,032,229 | 3.04% | |
| RARE |
Ultragenyx Pharmaceutical Inc.
Healthcare
|
Held | 596,495 | $19,916,968 | 2.75% | |
| NVCR |
NovoCure Ltd
Healthcare
|
Held | 1,280,439 | $19,398,650 | 2.68% | |
| SNDX |
Syndax Pharmaceuticals Inc
Healthcare
|
Held | 864,986 | $18,908,593 | 2.61% | |
| ANNX |
Annexon, Inc.
Healthcare
|
Held | 2,948,090 | $16,833,593 | 2.33% | |
| BCAX |
Bicara Therapeutics Inc.
Healthcare
|
Held | 550,408 | $16,341,613 | 2.26% | |
| CDNA |
CareDx, Inc.
Healthcare
|
Held | 531,870 | $15,158,295 | 2.09% | |
| CLDX |
Celldex Therapeutics, Inc.
Healthcare
|
Added | 399,856 | $14,878,641 | 2.06% | |
| CMPX |
Compass Therapeutics, Inc.
Healthcare
|
Added | 5,831,813 | $12,771,670 | 1.76% | |
| ALKS |
Alkermes plc.
Healthcare
|
Held | 242,560 | $12,710,144 | 1.76% | |
| TRAX |
First Tracks Biotherapeutics, Inc.
Healthcare
|
NEW | 603,489 | $12,142,198 | 1.68% | |
| PRTA |
Prothena Corp Public Ltd Co
Healthcare
|
Reduced | 1,143,155 | $11,191,487 | 1.55% | |
| TVTX |
Travere Therapeutics, Inc.
Healthcare
|
Reduced | 167,525 | $9,517,095 | 1.32% | |
| TSHA |
Taysha Gene Therapies, Inc.
Healthcare
|
Held | 1,391,382 | $9,475,311 | 1.31% | |
| ACRS |
Aclaris Therapeutics, Inc.
Healthcare
|
Held | 1,613,430 | $8,535,044 | 1.18% | |
| AGIO |
Agios Pharmaceuticals, Inc.
Healthcare
|
Held | 213,601 | $7,926,733 | 1.10% | |
| CAPR |
Capricor Therapeutics, Inc.
Healthcare
|
Held | 229,763 | $5,532,693 | 0.76% | |
| ALGN |
Align Technology Inc
Healthcare
|
Reduced | 31,389 | $5,294,068 | 0.73% | |
| ORKA |
Oruka Therapeutics, Inc.
Healthcare
|
Reduced | 33,546 | $3,192,572 | 0.44% | |
| XENE |
Xenon Pharmaceuticals Inc.
Healthcare
|
Held | 51,345 | $3,099,184 | 0.43% | |
| NBIX |
Neurocrine Biosciences Inc
Healthcare
|
Held | 18,117 | $3,053,439 | 0.42% | |
| EW |
Edwards Lifesciences Corp
Healthcare
|
Held | 33,640 | $3,043,074 | 0.42% | |
| STOK |
Stoke Therapeutics, Inc.
Healthcare
|
Held | 84,631 | $2,769,126 | 0.38% | |
| CYTK |
Cytokinetics Inc
Healthcare
|
Held | 32,195 | $2,742,692 | 0.38% | |
| PYXS |
Pyxis Oncology, Inc.
Healthcare
|
Reduced | 864,277 | $2,601,473 | 0.36% | |
| EHTH |
eHealth, Inc.
Financial Services
|
Held | 1,482,797 | $2,209,367 | 0.31% | |
| CRSP |
CRISPR Therapeutics AG
Healthcare
|
Held | 39,605 | $2,160,056 | 0.30% | |
| SGMT |
Sagimet Biosciences Inc.
Healthcare
|
NEW | 250,000 | $1,932,500 | 0.27% | |
| NUVB |
Nuvation Bio Inc.
Healthcare
|
Reduced | 326,609 | $1,855,139 | 0.26% | |
| BNTX |
BioNTech SE
Healthcare
|
Held | 19,614 | $1,825,082 | 0.25% | |
| CMPS |
COMPASS Pathways plc
Healthcare
|
Held | 115,616 | $1,635,966 | 0.23% | |
| HUM |
Humana Inc
Healthcare
|
Held | 3,985 | $1,582,921 | 0.22% | |
| NAMS |
NewAmsterdam Pharma Co N.V.
Healthcare
|
NEW | 44,359 | $1,503,326 | 0.21% | |
| VSTM |
Verastem, Inc.
Healthcare
|
Added | 309,685 | $1,182,996 | 0.16% | |
| MDGL |
Madrigal Pharmaceuticals, Inc.
Healthcare
|
Held | 1,787 | $959,529 | 0.13% | |
| URGN |
UroGen Pharma Ltd.
Healthcare
|
Held | 24,500 | $901,600 | 0.12% | |
| BCYC |
Bicycle Therapeutics PLC
Healthcare
|
Held | 201,890 | $856,013 | 0.12% | |
| XERS |
Xeris Biopharma Holdings, Inc.
Healthcare
|
Held | 104,410 | $826,927 | 0.11% | |
| ABEO |
Abeona Therapeutics Inc.
Healthcare
|
Held | 108,865 | $672,785 | 0.09% | |
| INSP |
Inspire Medical Systems, Inc.
Healthcare
|
Held | 8,772 | $391,318 | 0.05% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.