Palo Alto Investors LP
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 14, 2024), Palo Alto Investors LP reported 39 stock positions worth $863.0 million. Its top holding was Insmed (INSM) at 16.6% of the portfolio, followed by Biomarin Pharmaceutical (BMRN, 10.8%) and Amicus Therapeutics (FOLD, 10.4%). Compared with Q1 2024, it opened 2 new positions, sold out of 1, added to 10 and reduced 8. The biggest buy was a new position in Alnylam Pharmaceuticals (alny 1 09/15/27) and the biggest sale an exit from Alnylam Pharmaceuticals (ALNY).
- Most Recent 13F
- Q2 2026
- Location
- PALO ALTO, CA
- CIK
- 0001306923
- Portfolio Value
- $863.0M (Q2 2024)
- SEC Filing
- 0001306923-24-000010 ↗ filed Aug 14, 2024
Holdings Value
Holdings 39 stocks · $863.0M
| INSM Insmed Inc. | 16.61% | 2,138,963 | $143.3M | Reduce -51.6% |
| BMRN Biomarin Pharmaceutical Inc. | 10.78% | 1,130,167 | $93.0M | Reduce -0.4% |
| FOLD Amicus Therapeutics Inc. | 10.38% | 9,029,843 | $89.6M | Reduce -3.4% |
| UTHR United Therapeutics Corp. | 9.85% | 266,914 | $85.0M | Reduce -0.3% |
| BIIB Biogen Inc. | 7.76% | 289,050 | $67.0M | Reduce -0.3% |
| STAA Staar Surgical Co. | 7.62% | 1,381,619 | $65.8M | Add +0.1% |
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | 5.16% | 183,123 | $44.5M | New |
| ACAD Acadia Pharmaceuticals Inc. | 4.55% | 2,418,841 | $39.3M | Add +0.2% |
| PRTA Prothena Corp. PLC | 3.99% | 1,666,378 | $34.4M | Add +0.2% |
| SRPT Sarepta Therapeutics Inc. | 3.69% | 201,683 | $31.9M | Add +0.2% |
| ANAB Anaptysbio Inc. | 2.33% | 803,641 | $20.1M | Add +0.5% |
| IOVA Iovance Biotherapeutics Inc. | 1.97% | 2,116,403 | $17.0M | Add +0.2% |
| RVNC Revance Therapeutics Inc. | 1.57% | 5,257,086 | $13.5M | Add +0.2% |
| ALKS Alkermes PLC | 1.38% | 495,592 | $11.9M | No change |
| SAGE Sage Therapeutics Inc. | 1.27% | 1,010,833 | $11.0M | Add +0.5% |
| EHTH Ehealth Inc. | 1.23% | 2,350,190 | $10.6M | Reduce -13.5% |
| NVCR Novocure Ltd. | 1.12% | 561,908 | $9.6M | No change |
| ALGN Align Technology Inc. | 1.06% | 37,772 | $9.1M | Reduce -23.1% |
| SNDX Syndax Pharmaceuticals Inc. | 0.96% | 405,193 | $8.3M | No change |
| SLRN Acelyrin Inc. | 0.88% | 1,715,180 | $7.6M | No change |
| NVRO Nevro LLC filed as NEVRO CORP | 0.73% | 750,371 | $6.3M | No change |
| CYTK Cytokinetics Inc. | 0.70% | 111,717 | $6.1M | No change |
| GOSS Gossamer Bio Inc. | 0.66% | 6,277,093 | $5.7M | Reduce -1.8% |
| ELEV Elevation Oncology Inc. | 0.56% | 1,800,106 | $4.9M | Add +33.7% |
| BLUEBIRD BIO INC | 0.53% | 4,633,351 | $4.6M | Add +1.6% |
| KPTI Karyopharm Therapeutics Inc. | 0.51% | 5,102,193 | $4.4M | No change |
| VERV Verve Therapeutics Inc. | 0.33% | 575,817 | $2.8M | No change |
| NUVB Nuvation Bio Inc. | 0.26% | 772,652 | $2.3M | No change |
| MIRM Mirum Pharmaceuticals Inc. | 0.26% | 64,700 | $2.2M | No change |
| RLMD Relmada Therapeutics Inc. | 0.25% | 732,400 | $2.2M | No change |
| TSHA Taysha Gene Therapies Inc. | 0.21% | 811,268 | $1.8M | No change |
| STOK Stoke Therapeutics Inc. | 0.20% | 125,861 | $1.7M | No change |
| HUM Humana Inc. | 0.17% | 3,985 | $1.5M | No change |
| TVTX Travere Therapeutics Inc. | 0.11% | 110,719 | $910K | No change |
| VYNE THERAPEUTICS INC | 0.10% | 445,434 | $878K | No change |
| ALDX Aldeyra Therapeutics Inc. | 0.09% | 225,465 | $746K | No change |
| ACRS Aclaris Therapeutics Inc. | 0.07% | 569,832 | $627K | No change |
| GBIO Generation Bio Co. | 0.05% | 150,475 | $424K | New |
| URGN Urogen Pharma Ltd. | 0.05% | 24,500 | $411K | No change |
Portfolio Sells Q1 2024 → Q2 2024
| ALNY Alnylam Pharmaceuticals Inc. | Sold out | 0.00% | −3.08 |
| FOLD Amicus Therapeutics Inc. | Reduce -3.4% | 10.38% | −2.03 |
| ALGN Align Technology Inc. | Reduce -23.1% | 1.06% | −0.76 |
| EHTH Ehealth Inc. | Reduce -13.5% | 1.23% | −0.61 |
| BMRN Biomarin Pharmaceutical Inc. | Reduce -0.4% | 10.78% | −0.39 |
| GOSS Gossamer Bio Inc. | Reduce -1.8% | 0.66% | −0.20 |
| BIIB Biogen Inc. | Reduce -0.3% | 7.76% | +0.71 |
| UTHR United Therapeutics Corp. | Reduce -0.3% | 9.85% | +2.92 |
| INSM Insmed Inc. | Reduce -51.6% | 16.61% | +3.07 |
Portfolio Buys Q1 2024 → Q2 2024
| ALNYLAM PHARMACEUTICALS (ALNY 1 09/15/27) | New | 5.16% | +5.16 |
| STAA Staar Surgical Co. | Add +0.1% | 7.62% | +1.67 |
| SRPT Sarepta Therapeutics Inc. | Add +0.2% | 3.69% | +0.75 |
| ANAB Anaptysbio Inc. | Add +0.5% | 2.33% | +0.30 |
| GBIO Generation Bio Co. | New | 0.05% | +0.05 |
| BLUEBIRD BIO INC | Add +1.6% | 0.53% | −0.13 |
| ELEV Elevation Oncology Inc. | Add +33.7% | 0.56% | −0.22 |
| ACAD Acadia Pharmaceuticals Inc. | Add +0.2% | 4.55% | −0.48 |
| PRTA Prothena Corp. PLC | Add +0.2% | 3.99% | −0.66 |
| SAGE Sage Therapeutics Inc. | Add +0.5% | 1.27% | −0.85 |
| RVNC Revance Therapeutics Inc. | Add +0.2% | 1.57% | −1.35 |
| IOVA Iovance Biotherapeutics Inc. | Add +0.2% | 1.97% | −1.56 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026Amended | 52 | $723.7M | PTCT, ACAD, INSM, MIRM, ANAB |
| Q1 2026 | 51 | $653.9M | INSM, ACAD, PTCT, BMRN, UTHR |
| Q4 2025 | 49 | $718.4M | INSM, FOLD, PTCT, ACAD, BMRN |
| Q3 2025 | 44 | $540.4M | INSM, PTCT, ACAD, FOLD, BMRN |
| Q2 2025 | 45 | $470.0M | INSM, ACAD, BMRN, FOLD, UTHR |
| Q1 2025 | 44 | $525.1M | INSM, BMRN, FOLD, ACAD, UTHR |
| Q4 2024 | 43 | $645.4M | INSM, FOLD, BMRN, UTHR, ACAD |
| Q3 2024 | 45 | $769.9M | INSM, FOLD, BMRN, UTHR, BIIB |
| Q2 2024 | 39 | $863.0M | INSM, BMRN, FOLD, UTHR, BIIB |
| Q1 2024 | 38 | $886.7M | INSM, FOLD, BMRN, BIIB, UTHR |