Q3 2025 · 13F-HR
Palo Alto Investors LPholdings as filed
Filed 2025-11-14 · accession 0001306923-25-000019
$540.4M
Reported value
44
Positions
2025-09-30
Period end
The Brief · Palo Alto Investors LP · Q3 2025
AI · grounded in 13F
Palo Alto Investors LP established a new position in INSM valued at $70.8M. The fund also initiated new stakes in PTCT for $52.9M and ACAD for $52.6M. Additional new positions include AM6 at $42.3M and BMRN at $40.8M. The fund ended the period with 44 positions and total AUM of $540.4M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 457669307 | INSM | INSMED INC | $70.8M | 13.1% | 491,805 | Common | SOLE |
| 69366J200 | PTCT | PTC THERAPEUTICS INC | $52.9M | 9.80% | 862,613 | Common | SOLE |
| 004225108 | ACAD | ACADIA PHARMACEUTICALS INC | $52.6M | 9.74% | 2,466,684 | Common | SOLE |
| 03152W109 | AM6 | AMICUS THERAPEUTICS INC | $42.3M | 7.83% | 5,367,798 | Common | SOLE |
| 09061G101 | BMRN | BIOMARIN PHARMACEUTICAL INC | $40.8M | 7.56% | 754,007 | Common | SOLE |
| 09062X103 | BIIB | BIOGEN INC | $26.0M | 4.81% | 185,661 | Common | SOLE |
| 91307C102 | UTHR | UNITED THERAPEUTICS CORP | $24.4M | 4.51% | 58,186 | Common | SOLE |
| 032724106 | ANAB | ANAPTYSBIO INC | $20.6M | 3.82% | 673,520 | Common | SOLE |
| 462260100 | IOVA | IOVANCE BIOTHERAPEUTICS INC | $16.5M | 3.06% | 7,618,132 | Common | SOLE |
| G6674U108 | NVCR | NOVOCURE LTD | $16.2M | 3.00% | 1,256,159 | Common | SOLE |
| 26818M108 | DYN | DYNE THERAPEUTICS INC | $16.0M | 2.96% | 1,262,674 | Common | SOLE |
| 254604101 | IRON | DISC MEDICINE INC | $14.8M | 2.74% | 224,300 | Common | SOLE |
| 02043Q107 | ALNY | ALNYLAM PHARMACEUTICALS INC | $14.7M | 2.73% | 32,320 | Common | SOLE |
| 38341P102 | GOSS | GOSSAMER BIO INC | $14.4M | 2.66% | 5,464,349 | Common | SOLE |
| G72800108 | PRTA | PROTHENA CORP PLC | $12.9M | 2.39% | 1,324,028 | Common | SOLE |
| 90400D108 | RARE | ULTRAGENYX PHARMACEUTICAL IN | $11.1M | 2.06% | 369,531 | Common | SOLE |
| 00847X104 | AGIO | AGIOS PHARMACEUTICALS INC | $10.7M | 1.97% | 265,497 | Common | SOLE |
| 87164F105 | SNDX | SYNDAX PHARMACEUTICALS INC | $10.1M | 1.86% | 654,930 | Common | SOLE |
| 28238P109 | EHTH | EHEALTH INC | $6.7M | 1.23% | 1,544,619 | Common | SOLE |
| 24823R105 | DNLI | DENALI THERAPEUTICS INC | $5.9M | 1.10% | 408,006 | Common | SOLE |
| 016255101 | ALGN | ALIGN TECHNOLOGY INC | $5.7M | 1.06% | 45,735 | Common | SOLE |
| G01767105 | ALKS | ALKERMES PLC | $5.5M | 1.02% | 183,938 | Common | SOLE |
| 05370A108 | RNAGBP | AVIDITY BIOSCIENCES INC | $4.8M | 0.89% | 109,831 | Common | SOLE |
| 604749101 | MIRM | MIRUM PHARMACEUTICALS INC | $4.7M | 0.88% | 64,700 | Common | SOLE |
| 14167L103 | CDNA | CAREDX INC | $4.6M | 0.85% | 316,204 | Common | SOLE |
| 877619106 | TSHA | TAYSHA GENE THERAPIES INC | $4.1M | 0.75% | 1,246,033 | Common | SOLE |
| 67080N101 | NUVB | NUVATION BIO INC | $3.8M | 0.70% | 1,020,547 | Common | SOLE |
| 00461U105 | ACRS | ACLARIS THERAPEUTICS INC | $3.0M | 0.55% | 1,566,840 | Common | SOLE |
| H17182108 | CRSP | CRISPR THERAPEUTICS AG | $2.7M | 0.49% | 41,226 | Common | SOLE |
| 89422G107 | TVTX | TRAVERE THERAPEUTICS INC | $2.6M | 0.49% | 110,719 | Common | SOLE |
| 28176E108 | EW | EDWARDS LIFESCIENCES CORP | $2.6M | 0.48% | 33,640 | Common | SOLE |
| 64125C109 | NBIX | NEUROCRINE BIOSCIENCES INC | $2.5M | 0.47% | 18,117 | Common | SOLE |
| 86150R107 | STOK | STOKE THERAPEUTICS INC | $2.5M | 0.46% | 105,427 | Common | SOLE |
| 747324101 | PYXS | PYXIS ONCOLOGY INC | $2.3M | 0.43% | 1,037,421 | Common | SOLE |
| 09075V102 | BNTX | BIONTECH SE-ADR | $1.9M | 0.36% | 19,614 | Common | SOLE |
| 088786108 | BCYC | BICYCLE THERAPEUTICS PLC-ADR | $1.7M | 0.32% | 221,071 | Common | SOLE |
| 01438T106 | ALDX | ALDEYRA THERAPEUTICS INC | $1.2M | 0.22% | 225,465 | Common | SOLE |
| 444859102 | HUM | HUMANA INC | $1.0M | 0.19% | 3,985 | Common | SOLE |
| 687604108 | ORKA | ORUKA THERAPEUTICS INC | $791,310 | 0.15% | 59,985 | Common | SOLE |
| 00289Y206 | ABEO | ABEONA THERAPEUTICS INC | $574,807 | 0.11% | 108,865 | Common | SOLE |
| M96088105 | URGN | UROGEN PHARMA LTD | $488,775 | 0.09% | 24,500 | Common | SOLE |
| N71542109 | PRQR | PROQR THERAPEUTICS NV | $402,159 | 0.07% | 188,807 | Common | SOLE |
| 00972G207 | AKTX | AKARI THERAPEUTICS PLC-ADR | $147,484 | 0.03% | 146,024 | Common | SOLE |
| 37148K100 | GBIOGBX | GENERATION BIO CO | $92,088 | 0.02% | 15,047 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.