Filed: 11/14/2025ACC: 0001306923-25-000019
📋 What this filing means
PALO ALTO INVESTORS LP filed this quarterly 13F‑HR report disclosing 44 equity positions with a total reported market value of $540.39M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
44
Positions
$540.39M
Total AUM (reported)
38.20M
Total Shares
Allocation by class
COM$457.71M84.7%
SPONSORED ADS$41.98M7.8%
COM NEW$17.11M3.2%
COM CL A$16.70M3.1%
NAMEN AKT$2.67M0.5%
COM SHS$2.65M0.5%
SPONSORED ADR$1.18M0.2%
Portfolio Concentration
Top 3$176.40M32.6%
4–10$186.92M34.6%
11–25$142.63M26.4%
Rest$34.44M6.4%
Top 3 weight
32.6%
Top 10 weight
67.2%
Voting Authority Distribution
Total shares with voting rights: 38.20M
Sole
Full voting authority
38.20M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole44
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings44
Rows:
INSMED INC
SOLEShares491.81K
TypeSH
Market value$70.82M
13.11%
Sole
491.81K
Shared
0.00
None
0.00
PTC THERAPEUTICS INC
SOLEShares862.61K
TypeSH
Market value$52.94M
9.80%
Sole
862.61K
Shared
0.00
None
0.00
ACADIA PHARMACEUTICALS INC
SOLEShares2.47M
TypeSH
Market value$52.64M
9.74%
Sole
2.47M
Shared
0.00
None
0.00
AMICUS THERAPEUTICS INC
SOLEShares5.37M
TypeSH
Market value$42.30M
7.83%
Sole
5.37M
Shared
0.00
None
0.00
BIOMARIN PHARMACEUTICAL INC
SOLEShares754.01K
TypeSH
Market value$40.84M
7.56%
Sole
754.01K
Shared
0.00
None
0.00
BIOGEN INC
SOLEShares185.66K
TypeSH
Market value$26.01M
4.81%
Sole
185.66K
Shared
0.00
None
0.00
UNITED THERAPEUTICS CORP
SOLEShares58.19K
TypeSH
Market value$24.39M
4.51%
Sole
58.19K
Shared
0.00
None
0.00
ANAPTYSBIO INC
SOLEShares673.52K
TypeSH
Market value$20.62M
3.82%
Sole
673.52K
Shared
0.00
None
0.00
IOVANCE BIOTHERAPEUTICS INC
SOLEShares7.62M
TypeSH
Market value$16.53M
3.06%
Sole
7.62M
Shared
0.00
None
0.00
NOVOCURE LTD
SOLEShares1.26M
TypeSH
Market value$16.23M
3.00%
Sole
1.26M
Shared
0.00
None
0.00
DYNE THERAPEUTICS INC
SOLEShares1.26M
TypeSH
Market value$15.97M
2.96%
Sole
1.26M
Shared
0.00
None
0.00
DISC MEDICINE INC
SOLEShares224.30K
TypeSH
Market value$14.82M
2.74%
Sole
224.30K
Shared
0.00
None
0.00
ALNYLAM PHARMACEUTICALS INC
SOLEShares32.32K
TypeSH
Market value$14.74M
2.73%
Sole
32.32K
Shared
0.00
None
0.00
GOSSAMER BIO INC
SOLEShares5.46M
TypeSH
Market value$14.37M
2.66%
Sole
5.46M
Shared
0.00
None
0.00
PROTHENA CORP PLC
SOLEShares1.32M
TypeSH
Market value$12.92M
2.39%
Sole
1.32M
Shared
0.00
None
0.00
ULTRAGENYX PHARMACEUTICAL IN
SOLEShares369.53K
TypeSH
Market value$11.12M
2.06%
Sole
369.53K
Shared
0.00
None
0.00
AGIOS PHARMACEUTICALS INC
SOLEShares265.50K
TypeSH
Market value$10.66M
1.97%
Sole
265.50K
Shared
0.00
None
0.00
SYNDAX PHARMACEUTICALS INC
SOLEShares654.93K
TypeSH
Market value$10.08M
1.86%
Sole
654.93K
Shared
0.00
None
0.00
EHEALTH INC
SOLEShares1.54M
TypeSH
Market value$6.66M
1.23%
Sole
1.54M
Shared
0.00
None
0.00
DENALI THERAPEUTICS INC
SOLEShares408.01K
TypeSH
Market value$5.92M
1.10%
Sole
408.01K
Shared
0.00
None
0.00
ALIGN TECHNOLOGY INC
SOLEShares45.73K
TypeSH
Market value$5.73M
1.06%
Sole
45.73K
Shared
0.00
None
0.00
ALKERMES PLC
SOLEShares183.94K
TypeSH
Market value$5.52M
1.02%
Sole
183.94K
Shared
0.00
None
0.00
AVIDITY BIOSCIENCES INC
SOLEShares109.83K
TypeSH
Market value$4.79M
0.89%
Sole
109.83K
Shared
0.00
None
0.00
MIRUM PHARMACEUTICALS INC
SOLEShares64.70K
TypeSH
Market value$4.74M
0.88%
Sole
64.70K
Shared
0.00
None
0.00
CAREDX INC
SOLEShares316.20K
TypeSH
Market value$4.60M
0.85%
Sole
316.20K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
INSMED INCSOLE | COM | 491.81K | SH | $70.82M 13.11% | 491.81K | 0.00 | 0.00 |
PTC THERAPEUTICS INCSOLE | COM | 862.61K | SH | $52.94M 9.80% | 862.61K | 0.00 | 0.00 |
ACADIA PHARMACEUTICALS INCSOLE | COM | 2.47M | SH | $52.64M 9.74% | 2.47M | 0.00 | 0.00 |
AMICUS THERAPEUTICS INCSOLE | COM | 5.37M | SH | $42.30M 7.83% | 5.37M | 0.00 | 0.00 |
BIOMARIN PHARMACEUTICAL INCSOLE | COM | 754.01K | SH | $40.84M 7.56% | 754.01K | 0.00 | 0.00 |
BIOGEN INCSOLE | SPONSORED ADS | 185.66K | SH | $26.01M 4.81% | 185.66K | 0.00 | 0.00 |
UNITED THERAPEUTICS CORPSOLE | COM | 58.19K | SH | $24.39M 4.51% | 58.19K | 0.00 | 0.00 |
ANAPTYSBIO INCSOLE | COM | 673.52K | SH | $20.62M 3.82% | 673.52K | 0.00 | 0.00 |
IOVANCE BIOTHERAPEUTICS INCSOLE | COM NEW | 7.62M | SH | $16.53M 3.06% | 7.62M | 0.00 | 0.00 |
NOVOCURE LTDSOLE | COM | 1.26M | SH | $16.23M 3.00% | 1.26M | 0.00 | 0.00 |
DYNE THERAPEUTICS INCSOLE | SPONSORED ADS | 1.26M | SH | $15.97M 2.96% | 1.26M | 0.00 | 0.00 |
DISC MEDICINE INCSOLE | COM | 224.30K | SH | $14.82M 2.74% | 224.30K | 0.00 | 0.00 |
ALNYLAM PHARMACEUTICALS INCSOLE | COM | 32.32K | SH | $14.74M 2.73% | 32.32K | 0.00 | 0.00 |
GOSSAMER BIO INCSOLE | COM | 5.46M | SH | $14.37M 2.66% | 5.46M | 0.00 | 0.00 |
PROTHENA CORP PLCSOLE | COM CL A | 1.32M | SH | $12.92M 2.39% | 1.32M | 0.00 | 0.00 |
ULTRAGENYX PHARMACEUTICAL INSOLE | COM | 369.53K | SH | $11.12M 2.06% | 369.53K | 0.00 | 0.00 |
AGIOS PHARMACEUTICALS INCSOLE | COM | 265.50K | SH | $10.66M 1.97% | 265.50K | 0.00 | 0.00 |
SYNDAX PHARMACEUTICALS INCSOLE | COM | 654.93K | SH | $10.08M 1.86% | 654.93K | 0.00 | 0.00 |
EHEALTH INCSOLE | COM | 1.54M | SH | $6.66M 1.23% | 1.54M | 0.00 | 0.00 |
DENALI THERAPEUTICS INCSOLE | COM | 408.01K | SH | $5.92M 1.10% | 408.01K | 0.00 | 0.00 |
ALIGN TECHNOLOGY INCSOLE | COM | 45.73K | SH | $5.73M 1.06% | 45.73K | 0.00 | 0.00 |
ALKERMES PLCSOLE | COM | 183.94K | SH | $5.52M 1.02% | 183.94K | 0.00 | 0.00 |
AVIDITY BIOSCIENCES INCSOLE | COM | 109.83K | SH | $4.79M 0.89% | 109.83K | 0.00 | 0.00 |
MIRUM PHARMACEUTICALS INCSOLE | COM | 64.70K | SH | $4.74M 0.88% | 64.70K | 0.00 | 0.00 |
CAREDX INCSOLE | COM | 316.20K | SH | $4.60M 0.85% | 316.20K | 0.00 | 0.00 |
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