Latest Palo Alto Investors LP Stock Portfolio

$723Million | No. of Holdings #52

Palo Alto Investors LP Performance

2026 Q2+12.37%

YTD+10.01%

2025+31.91%

About Palo Alto Investors LP and 13F Hedge Fund Stock Holdings

Palo Alto Investors LP is a hedge fund based in Palo Alto, CA. On 2026-08-19, the fund reported it's updated stock portfolio. In the 13F Holdings report, Palo Alto Investors LP reported an equity portfolio of $723.7 Millions as of 30 Jun, 2026. <br><br> The top stock holdings of Palo Alto Investors LP are PTCT, ACAD, INSM. The fund has invested 10.4% of it's portfolio in PTC THERAPEUTICS INC and 10% of portfolio in ACADIA PHARMACEUTICALS INC. <br><br> The fund managers got completely rid off AMICUS THERAPEUTICS INC (FOLD) and DENALI THERAPEUTICS INC (DNLI) stocks. They significantly reduced their stock positions in ORUKA THERAPEUTICS INC - RESTRICTED, ANAPTYSBIO INC (ANAB) and NUVATION BIO INC (NUVB). Palo Alto Investors LP opened new stock positions in FIRST TRACKS BIOTHERAPEUTICS and NEWAMSTERDAM PHARMA CO NV (NAMS). The fund showed a lot of confidence in some stocks as they added substantially to COMPASS THERAPEUTICS INC (CMPX), CELLDEX THERAPEUTICS INC (CLDX) and VERASTEM INC (VSTM).

Palo Alto Investors LP Equity Portfolio Value

Last Reported on: 19 Aug, 2026

$723Million

as of Aug 19, 2026

Palo Alto Investors LP Annual Return Estimates Vs S&P 500

Our best estimate is that Palo Alto Investors LP made a return of 12.37% in the last quarter. In trailing 12 months, it's portfolio return was 60.29%.

Performance
S&P 500

New Buys

Ticker	$ Bought
first tracks biotherapeutics	12,142,200
sagimet biosciences inc-a	1,932,500
newamsterdam pharma co nv	1,503,330

New stocks bought by Palo Alto Investors LP

Additions

Ticker	% Inc.
compass therapeutics inc	285
celldex therapeutics inc	34.9
verastem inc	25.84
mirum pharmaceuticals inc	7.27
disc medicine inc	3.72

Additions to existing portfolio by Palo Alto Investors LP

Reductions

Ticker	% Reduced
oruka therapeutics inc - restricted	-44.08
anaptysbio inc	-36.96
nuvation bio inc	-35.81
travere therapeutics inc	-27.31
align technology inc	-24.4
iovance biotherapeutics inc	-16.59
pyxis oncology inc	-14.47
prothena corp plc	-5.41

Palo Alto Investors LP reduced stake in above stock

Sold off

Ticker	$ Sold
amicus therapeutics inc	-16,094,600
denali therapeutics inc	-4,503,970

Palo Alto Investors LP got rid off the above stocks

Sector Distribution

Palo Alto Investors LP has about 90.3% of it's holdings in Healthcare sector.

Healthcare
Others

Sector	%
Healthcare	90.3
Others	9.4

Market Cap. Distribution

Palo Alto Investors LP has about 22.3% of it's portfolio invested in the large-cap and mega-cap stocks.

SMALL-CAP
MID-CAP
LARGE-CAP
UNALLOCATED

Category	%
SMALL-CAP	36.5
MID-CAP	31
LARGE-CAP	22.3
UNALLOCATED	9.4

Stocks belong to which Index?

About 70.9% of the stocks held by Palo Alto Investors LP either belong to S&P 500 or RUSSELL 2000 index.

RUSSELL 2000
Others
S&P 500

Index	%
RUSSELL 2000	65.3
Others	29.1
S&P 500	5.6

Top 5 Winners (%)		%
CMPS	compass pathways plc adr	155.9 %
HUM	humana inc	129.1 %
URGN	urogen pharma ltd	104.7 %
PYXS	pyxis oncology inc	98.5 %
TVTX	travere therapeutics inc	78.8 %

Top 5 Winners ($)		$
ANAB	anaptysbio inc	23.8 M
PTCT	ptc therapeutics inc	12.4 M
ACAD	acadia pharmaceuticals inc	8.7 M
MIRM	mirum pharmaceuticals inc	8.3 M
RARE	ultragenyx pharmaceutical in	7.4 M

Top 5 Losers (%)		%
CMPX	compass therapeutics inc	-47.1 %
INSM	insmed inc	-34.7 %
VSTM	verastem inc	-25.8 %
CAPR	capricor therapeutics inc	-20.8 %
INSP	inspire medical systems inc	-13.5 %

Top 5 Losers ($)		$
INSM	insmed inc	-23.6 M
CMPX	compass therapeutics inc	-11.4 M
UTHR	united therapeutics corp	-3.2 M
CAPR	capricor therapeutics inc	-1.5 M
SNDX	syndax pharmaceuticals inc	-1.3 M

Palo Alto Investors LP Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Palo Alto Investors LP

Palo Alto Investors LP has 52 stocks in it's portfolio. About 61.3% of the portfolio is in top 10 stocks. INSM proved to be the most loss making stock for the portfolio. ANAB was the most profitable stock for Palo Alto Investors LP last quarter.

$723.72MTotal Value

54.00Positions

19 Aug, 2026Last Reported

Current holdings of Current Stock Holdings of Palo Alto Investors LP, last reported on 19 Aug, 2026. Select a row with a linked ticker to view its historical trend.
Holdingsorted ascending	% Portfolio	Shares Held	$ Value	% Change
ABEO Abeona Therapeutics Inc Abeona Therapeutics IncABEO Palo Alto Investors LP's holding in Abeona Therapeutics Inc over time	0.09%	108,865	$672.8K 0.09%	unchanged 0 percentunchanged

ACAD Acadia Pharmaceuticals Inc Acadia Pharmaceuticals IncACAD Palo Alto Investors LP's holding in Acadia Pharmaceuticals Inc over time	10.01%	2,864,100	$72.46M 10.01%	decreased 0.3 percentreduced

ACRS Aclaris Therapeutics Inc Aclaris Therapeutics IncACRS Palo Alto Investors LP's holding in Aclaris Therapeutics Inc over time	1.18%	1,613,430	$8.54M 1.18%	unchanged 0 percentunchanged

AGIO Agios Pharmaceuticals Inc Agios Pharmaceuticals IncAGIO Palo Alto Investors LP's holding in Agios Pharmaceuticals Inc over time	1.09%	213,601	$7.93M 1.09%	unchanged 0 percentunchanged

ALDX Aldeyra Therapeutics Inc Aldeyra Therapeutics IncALDX Palo Alto Investors LP's holding in Aldeyra Therapeutics Inc over time	0.05%	155,709	$331.7K 0.05%	unchanged 0 percentunchanged

ALGN Align Technology Inc Align Technology IncALGN Palo Alto Investors LP's holding in Align Technology Inc over time	0.73%	31,389	$5.29M 0.73%	decreased 24.4 percentreduced

ALKS Alkermes Plc Alkermes PlcALKS Palo Alto Investors LP's holding in Alkermes Plc over time	1.76%	242,560	$12.71M 1.76%	unchanged 0 percentunchanged

ANAB Anaptysbio Inc Anaptysbio IncANAB Palo Alto Investors LP's holding in Anaptysbio Inc over time	5.63%	603,489	$40.74M 5.63%	decreased 36.96 percentreduced

ANNX Annexon Inc Annexon IncANNX Palo Alto Investors LP's holding in Annexon Inc over time	2.33%	2,948,090	$16.83M 2.33%	unchanged 0 percentunchanged

BCYC Bicycle Therapeutics Plc-Adr Bicycle Therapeutics Plc-AdrBCYC Palo Alto Investors LP's holding in Bicycle Therapeutics Plc-Adr over time	0.12%	201,890	$856.0K 0.12%	unchanged 0 percentunchanged

BIIB Biogen Inc Biogen IncBIIB Palo Alto Investors LP's holding in Biogen Inc over time	4.19%	140,279	$30.31M 4.19%	decreased 0.31 percentreduced

BMRN Biomarin Pharmaceutical Inc Biomarin Pharmaceutical IncBMRN Palo Alto Investors LP's holding in Biomarin Pharmaceutical Inc over time	5.4%	682,777	$39.07M 5.4%	decreased 0.35 percentreduced

BNTX Biontech Se-Adr Biontech Se-Adr BNTX Palo Alto Investors LP's holding in Biontech Se-Adr over time	0.25%	19,614	$1.83M 0.25%	unchanged 0 percentunchanged

CAPR Capricor Therapeutics Inc Capricor Therapeutics IncCAPR Palo Alto Investors LP's holding in Capricor Therapeutics Inc over time	0.76%	229,763	$5.53M 0.76%	unchanged 0 percentunchanged

CDNA Caredx Inc Caredx IncCDNA Palo Alto Investors LP's holding in Caredx Inc over time	2.1%	531,870	$15.16M 2.1%	unchanged 0 percentunchanged

CLDX Celldex Therapeutics Inc Celldex Therapeutics IncCLDX Palo Alto Investors LP's holding in Celldex Therapeutics Inc over time	2.06%	399,856	$14.88M 2.06%	increased 34.9 percentadded

CMPS Compass Pathways Plc Adr Compass Pathways Plc Adr CMPS Palo Alto Investors LP's holding in Compass Pathways Plc Adr over time	0.23%	115,616	$1.64M 0.23%	unchanged 0 percentunchanged

CMPX Compass Therapeutics Inc Compass Therapeutics IncCMPX Palo Alto Investors LP's holding in Compass Therapeutics Inc over time	1.76%	5,831,810	$12.77M 1.76%	increased 285.06 percentadded

CRSP Crispr Therapeutics Ag Crispr Therapeutics AgCRSP Palo Alto Investors LP's holding in Crispr Therapeutics Ag over time	0.3%	39,605	$2.16M 0.3%	unchanged 0 percentunchanged

CYTK Cytokinetics Inc Cytokinetics IncCYTK Palo Alto Investors LP's holding in Cytokinetics Inc over time	0.38%	32,195	$2.74M 0.38%	unchanged 0 percentunchanged