Q4 2025 · 13F-HR
Palo Alto Investors LPholdings as filed
Filed 2026-02-17 · accession 0001306923-26-000002
$718.4M
Reported value
49
Positions
2025-12-31
Period end
The Brief · Palo Alto Investors LP · Q4 2025
AI · grounded in 13F
Palo Alto Investors LP closed its position in Alnylam Pharmaceuticals Inc ALNY, reducing its holdings by $14.7M. The fund established a new position in Compass Therapeutics Inc CMPX valued at $13.6M. Other activity included closing a position in Avidity Biosciences Inc RNAGBP for $4.8M and increasing its stake in PTC Therapeutics Inc PTCT by 4.8%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 457669307 | INSM | INSMED INC | $85.2M | 11.9% | 489,482 | Common | SOLE |
| 03152W109 | AM6 | AMICUS THERAPEUTICS INC | $74.1M | 10.3% | 5,205,767 | Common | SOLE |
| 69366J200 | PTCT | PTC THERAPEUTICS INC | $68.7M | 9.56% | 903,916 | Common | SOLE |
| 004225108 | ACAD | ACADIA PHARMACEUTICALS INC | $66.3M | 9.24% | 2,484,031 | Common | SOLE |
| 09061G101 | BMRN | BIOMARIN PHARMACEUTICAL INC | $44.3M | 6.17% | 746,256 | Common | SOLE |
| 032724106 | ANAB | ANAPTYSBIO INC | $33.5M | 4.66% | 690,032 | Common | SOLE |
| 09062X103 | BIIB | BIOGEN INC | $32.3M | 4.50% | 183,571 | Common | SOLE |
| 26818M108 | DYN | DYNE THERAPEUTICS INC | $28.8M | 4.01% | 1,472,197 | Common | SOLE |
| 91307C102 | UTHR | UNITED THERAPEUTICS CORP | $28.4M | 3.95% | 58,186 | Common | SOLE |
| 254604101 | IRON | DISC MEDICINE INC | $25.2M | 3.51% | 317,456 | Common | SOLE |
| 462260100 | IOVA | IOVANCE BIOTHERAPEUTICS INC | $19.4M | 2.70% | 7,116,676 | Common | SOLE |
| G6674U108 | NVCR | NOVOCURE LTD | $16.8M | 2.34% | 1,298,964 | Common | SOLE |
| 87164F105 | SNDX | SYNDAX PHARMACEUTICALS INC | $16.7M | 2.32% | 794,507 | Common | SOLE |
| 38341P102 | GOSS | GOSSAMER BIO INC | $13.9M | 1.93% | 4,471,592 | Common | SOLE |
| 20454B104 | CMPX | COMPASS THERAPEUTICS INC | $13.6M | 1.89% | 2,532,419 | Common | SOLE |
| G72800108 | PRTA | PROTHENA CORP PLC | $12.6M | 1.76% | 1,320,510 | Common | SOLE |
| 604749101 | MIRM | MIRUM PHARMACEUTICALS INC | $12.4M | 1.72% | 156,421 | Common | SOLE |
| 03589W102 | ANNX | ANNEXON INC | $12.0M | 1.67% | 2,384,192 | Common | SOLE |
| 90400D108 | RARE | ULTRAGENYX PHARMACEUTICAL IN | $10.6M | 1.48% | 461,294 | Common | SOLE |
| 24823R105 | DNLI | DENALI THERAPEUTICS INC | $10.6M | 1.47% | 641,239 | Common | SOLE |
| 14167L103 | CDNA | CAREDX INC | $9.0M | 1.25% | 478,220 | Common | SOLE |
| 28238P109 | EHTH | EHEALTH INC | $7.0M | 0.98% | 1,531,429 | Common | SOLE |
| G01767105 | ALKS | ALKERMES PLC | $6.8M | 0.94% | 242,560 | Common | SOLE |
| 14070B309 | CAPR | CAPRICOR THERAPEUTICS INC | $6.5M | 0.91% | 226,304 | Common | SOLE |
| 877619106 | TSHA | TAYSHA GENE THERAPIES INC | $6.5M | 0.91% | 1,183,195 | Common | SOLE |
| 016255101 | ALGN | ALIGN TECHNOLOGY INC | $6.5M | 0.90% | 41,520 | Common | SOLE |
| 00847X104 | AGIO | AGIOS PHARMACEUTICALS INC | $5.8M | 0.81% | 212,499 | Common | SOLE |
| 055477103 | BCAX | BICARA THERAPEUTICS INC | $5.0M | 0.70% | 298,575 | Common | SOLE |
| 67080N101 | NUVB | NUVATION BIO INC | $4.8M | 0.67% | 538,079 | Common | SOLE |
| 00461U105 | ACRS | ACLARIS THERAPEUTICS INC | $4.7M | 0.66% | 1,566,840 | Common | SOLE |
| 98420N105 | XENE | XENON PHARMACEUTICALS INC | $4.3M | 0.60% | 96,519 | Common | SOLE |
| 89422G107 | TVTX | TRAVERE THERAPEUTICS INC | $4.2M | 0.59% | 110,719 | Common | SOLE |
| 28176E108 | EW | EDWARDS LIFESCIENCES CORP | $2.9M | 0.40% | 33,640 | Common | SOLE |
| 64125C109 | NBIX | NEUROCRINE BIOSCIENCES INC | $2.6M | 0.36% | 18,117 | Common | SOLE |
| 86150R107 | STOK | STOKE THERAPEUTICS INC | $2.3M | 0.32% | 72,022 | Common | SOLE |
| H17182108 | CRSP | CRISPR THERAPEUTICS AG | $2.2M | 0.30% | 41,226 | Common | SOLE |
| 09075V102 | BNTX | BIONTECH SE-ADR | $1.9M | 0.26% | 19,614 | Common | SOLE |
| 687604108 | ORKA | ORUKA THERAPEUTICS INC | $1.8M | 0.25% | 59,985 | Common | SOLE |
| 088786108 | BCYC | BICYCLE THERAPEUTICS PLC-ADR | $1.6M | 0.22% | 221,071 | Common | SOLE |
| 747324101 | PYXS | PYXIS ONCOLOGY INC | $1.2M | 0.17% | 1,037,421 | Common | SOLE |
| 01438T106 | ALDX | ALDEYRA THERAPEUTICS INC | $1.2M | 0.16% | 225,465 | Common | SOLE |
| 444859102 | HUM | HUMANA INC | $1.0M | 0.14% | 3,985 | Common | SOLE |
| 457730109 | INSP | INSPIRE MEDICAL SYSTEMS INC | $809,042 | 0.11% | 8,772 | Common | SOLE |
| 20451W101 | CMPS | COMPASS PATHWAYS PLC ADR | $797,750 | 0.11% | 115,616 | Common | SOLE |
| M96088105 | URGN | UROGEN PHARMA LTD | $573,790 | 0.08% | 24,500 | Common | SOLE |
| 00289Y206 | ABEO | ABEONA THERAPEUTICS INC | $573,719 | 0.08% | 108,865 | Common | SOLE |
| N71542109 | PRQR | PROQR THERAPEUTICS NV | $381,390 | 0.05% | 188,807 | Common | SOLE |
| 37148K209 | — | GENERATION BIO CO | $85,467 | 0.01% | 15,047 | Common | SOLE |
| 00972G207 | AKTX | AKARI THERAPEUTICS PLC-ADR | $42,201 | 0.01% | 146,024 | 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.