Palo Alto Investors, LLC
13F Reported Value
ⓘ$653.9M
Holdings
51
Latest Filing
2026-03-31
Filing Quarter
Q1 2026
Portfolio Overview
Palo Alto Investors, LLC disclosed 51 positions worth $653.9M in its Form 13F-HR for Q1 2026, led by $INSM (INSMED Inc) at 10.4% of the equity portfolio, followed by $ACAD and $PTCT. During the quarter the fund opened 5 new positions and exited 3 — including a new stake in $CLDX and a full exit from $GOSS. The portfolio is most concentrated in Healthcare (97.9% of disclosed assets). All figures are sourced directly from Palo Alto Investors, LLC’s Form 13F-HR filing with the SEC under CIK 1306923.
AI Fund Analysis
DiversifyingSector Allocation
AUM History
Top Equity Holdings by Value
Quarterly Activity — Q1 2026
Click any card to unlockTop Holdings
- 29.4#2,409
Quality
$67.9M415,269 sh - 69.8#345
Quality
$63.9M2,872,695 sh - 80.0#48
Quality
$62.8M921,607 sh - 74.1
Quality
$38.7M685,182 sh - 80.1
Quality
$37.2M62,809 sh - 29.4
Quality
$35.4M638,161 sh - 32.7
Quality
$30.0M325,175 sh - —
Quality
$30.0M1,652,972 sh - 65.6
Quality
$25.8M140,719 sh - —
Quality
$25.7M401,719 sh
| Company | Quality | Value | Shares |
|---|---|---|---|
 INSMED Inc$INSM | 29.4#2,409 | $67.9M | 415,269 |
 ACADIA PHARMACEUTICALS INC$ACAD | 69.8#345 | $63.9M | 2,872,695 |
 PTC THERAPEUTICS, INC.$PTCT | 80.0#48 | $62.8M | 921,607 |
 BIOMARIN PHARMACEUTICAL INC$BMRN | 74.1 | $38.7M | 685,182 |
 UNITED THERAPEUTICS Corp$UTHR | 80.1 | $37.2M | 62,809 |
 ANAPTYSBIO, INC$ANAB | 29.4 | $35.4M | 638,161 |
 Mirum Pharmaceuticals, Inc.$MIRM | 32.7 | $30.0M | 325,175 |
 Dyne Therapeutics, Inc.$DYN | — | $30.0M | 1,652,972 |
 BIOGEN INC.$BIIB | 65.6 | $25.8M | 140,719 |
 Disc Medicine, Inc.$IRON | — | $25.7M | 401,719 |
Unlock AI quality scores for every holding
32-signal composite ranking on each of Palo Alto Investors, LLC's 51 positions.
Showing top 10 of 51 holdings.
Sector Allocation
Healthcare
$640.2M
Other
$11.7M
Financials
$1.9M
Full Holdings — Palo Alto Investors, LLC (Q1 2026)
All 51 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.
| # | Ticker | Company | Value | Weight | QoQ | Quality |
|---|---|---|---|---|---|---|
| 1 | $INSM | INSMED Inc | $67.9M | 10.4% | -15% | 29.4 |
| 2 | $ACAD | ACADIA PHARMACEUTICALS INC | $63.9M | 9.8% | +16% | 69.8 |
| 3 | $PTCT | PTC THERAPEUTICS, INC. | $62.8M | 9.6% | +2% | 80 |
| 4 | $BMRN | BIOMARIN PHARMACEUTICAL INC | $38.7M | 5.9% | -8% | 74.1 |
| 5 | $UTHR | UNITED THERAPEUTICS Corp | $37.2M | 5.7% | +8% | 80.1 |
| 6 | $ANAB | ANAPTYSBIO, INC | $35.4M | 5.4% | -8% | 29.4 |
| 7 | $MIRM | Mirum Pharmaceuticals, Inc. | $30.0M | 4.6% | +108% | 32.7 |
| 8 | $DYN | Dyne Therapeutics, Inc. | $30.0M | 4.6% | +12% | — |
| 9 | $BIIB | BIOGEN INC. | $25.8M | 4.0% | -23% | 65.6 |
| 10 | $IRON | Disc Medicine, Inc. | $25.7M | 3.9% | +27% | — |
| 11 |  $IOVA | IOVANCE BIOTHERAPEUTICS, INC. | $22.3M | 3.4% | -11% | 30.6 |
| 12 |  $SNDX | Syndax Pharmaceuticals Inc | $20.2M | 3.1% | +9% | 30 |
| 13 |  $ANNX | Annexon, Inc. | $16.3M | 2.5% | +24% | — |
| 14 |  $FOLD | AMICUS THERAPEUTICS, INC. | $16.1M | 2.5% | -79% | 44.2 |
| 15 |  $NVCR | NovoCure Ltd | $14.0M | 2.1% | -1% | — |
| 16 |  $RARE | Ultragenyx Pharmaceutical Inc. | $12.5M | 1.9% | +29% | 31 |
| 17 | — | PROTHENA CORP PLC | $11.7M | 1.8% | -8% | — |
| 18 |  $BCAX | Bicara Therapeutics Inc. | $10.9M | 1.7% | +84% | — |
| 19 |  $CLDX | Celldex Therapeutics, Inc. | $9.4M | 1.4% | NEW | 13.2 |
| 20 |  $CDNA | CareDx, Inc. | $9.2M | 1.4% | +11% | 44.8 |
| 21 |  $ALKS | Alkermes plc. | $8.6M | 1.3% | +0% | — |
| 22 |  $CMPX | Compass Therapeutics, Inc. | $8.0M | 1.2% | -40% | — |
| 23 |  $AGIO | AGIOS PHARMACEUTICALS, INC. | $7.2M | 1.1% | +1% | 26.3 |
| 24 |  $ALGN | ALIGN TECHNOLOGY INC | $7.1M | 1.1% | +0% | 58.2 |
| 25 |  $CAPR | CAPRICOR THERAPEUTICS, INC. | $7.0M | 1.1% | +2% | — |
| 26 |  $TVTX | Travere Therapeutics, Inc. | $6.8M | 1.1% | +108% | 39.2 |
| 27 |  $TSHA | Taysha Gene Therapies, Inc. | $6.2M | 0.9% | +18% | 4.1 |
| 28 |  $ACRS | Aclaris Therapeutics, Inc. | $6.1M | 0.9% | +3% | 9.2 |
| 29 |  $DNLI | Denali Therapeutics Inc. | $4.5M | 0.7% | -63% | — |
| 30 |  $XENE | Xenon Pharmaceuticals Inc. | $3.0M | 0.5% | -47% | 12.9 |
| 31 |  $ORKA | Oruka Therapeutics, Inc. | $2.9M | 0.5% | +0% | — |
| 32 |  $STOK | Stoke Therapeutics, Inc. | $2.8M | 0.4% | +18% | 53.4 |
| 33 |  $EW | Edwards Lifesciences Corp | $2.7M | 0.4% | +0% | 67.6 |
| 34 |  $NBIX | NEUROCRINE BIOSCIENCES INC | $2.4M | 0.4% | +0% | 75.4 |
| 35 |  $NUVB | Nuvation Bio Inc. | $2.2M | 0.3% | -5% | 29.5 |
| 36 |  $CYTK | CYTOKINETICS INC | $2.1M | 0.3% | NEW | 28 |
| 37 |  $EHTH | eHealth, Inc. | $1.9M | 0.3% | -3% | 35.5 |
| 38 |  $CRSP | CRISPR Therapeutics AG | $1.9M | 0.3% | -4% | 4.5 |
| 39 |  $BNTX | BioNTech SE | $1.7M | 0.3% | +0% | — |
| 40 |  $PYXS | Pyxis Oncology, Inc. | $1.5M | 0.2% | -3% | — |
| 41 |  $VSTM | Verastem, Inc. | $1.3M | 0.2% | NEW | 40.8 |
| 42 |  $BCYC | BICYCLE THERAPEUTICS PLC | $936,770 | 0.1% | -9% | — |
| 43 |  $MDGL | MADRIGAL PHARMACEUTICALS, INC. | $935,441 | 0.1% | NEW | 25.4 |
| 44 |  $HUM | HUMANA INC | $690,959 | 0.1% | +0% | 82 |
| 45 |  $CMPS | COMPASS Pathways plc | $639,356 | 0.1% | +0% | — |
| 46 |  $XERS | Xeris Biopharma Holdings, Inc. | $605,578 | 0.1% | NEW | 45.5 |
| 47 |  $ABEO | ABEONA THERAPEUTICS INC. | $487,715 | 0.1% | +0% | 44.3 |
| 48 |  $INSP | Inspire Medical Systems, Inc. | $452,460 | 0.1% | +0% | 46 |
| 49 |  $URGN | UroGen Pharma Ltd. | $440,510 | 0.1% | +0% | — |
| 50 |  $PRQR | ProQR Therapeutics N.V. | $305,867 | 0.1% | +0% | — |
| 51 |  $ALDX | Aldeyra Therapeutics, Inc. | $263,148 | 0.0% | -31% | — |
New Positions (5)
Browse Top Institutional Investors
13F Pro tracks 8,700+ institutional investors filing 13F reports with the SEC.
to search all 8,700+ institutional filers.
Available Analysis
13F Pro tracks comprehensive institutional data for Palo Alto Investors, LLC including:
Track Palo Alto Investors, LLC's Full Portfolio
See every holding, quarter-over-quarter changes, sector allocation, and accumulation patterns for Palo Alto Investors, LLC and 8,700+ other institutional investors.
Free tier includes full 13F search and fund profiles. Pro starts at $6.67/mo (billed annually).
AI-Powered Hedge Fund Analysis: Palo Alto Investors, LLC
13F Pro is an AI hedge fund tracker and stock research platform. For Palo Alto Investors, LLC (SEC CIK: 1306923), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.
Every holding in Palo Alto Investors, LLC's portfolio is scored on a 32-signal AI quality ranking (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.