Filed: 5/15/2026ACC: 0001306923-26-000004
📋 What this filing means
PALO ALTO INVESTORS LP filed this quarterly 13F‑HR report disclosing 51 equity positions with a total reported market value of $653.86M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
51
Positions
$653.86M
Total AUM (reported)
34.07M
Total Shares
Allocation by class
COM$515.99M78.9%
COM PAR $.01$67.90M10.4%
SHS$20.32M3.1%
COM NEW$20.30M3.1%
ORD SHS$13.96M2.1%
COM SHS$6.22M1.0%
SPONSORED ADS$3.32M0.5%
Portfolio Concentration
Top 3$194.64M29.8%
4–10$222.83M34.1%
11–25$180.62M27.6%
Rest$55.77M8.5%
Top 3 weight
29.8%
Top 10 weight
63.8%
Voting Authority Distribution
Total shares with voting rights: 34.07M
Sole
Full voting authority
34.07M
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)
Sole51
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings51
Rows:
INSMED INC
SOLEShares415.27K
TypeSH
Market value$67.90M
10.39%
Sole
415.27K
Shared
0.00
None
0.00
ACADIA PHARMACEUTICALS INC
SOLEShares2.87M
TypeSH
Market value$63.95M
9.78%
Sole
2.87M
Shared
0.00
None
0.00
PTC THERAPEUTICS INC
SOLEShares921.61K
TypeSH
Market value$62.79M
9.60%
Sole
921.61K
Shared
0.00
None
0.00
BIOMARIN PHARMACEUTICAL INC
SOLEShares685.18K
TypeSH
Market value$38.71M
5.92%
Sole
685.18K
Shared
0.00
None
0.00
UNITED THERAPEUTICS CORP
SOLEShares62.81K
TypeSH
Market value$37.24M
5.70%
Sole
62.81K
Shared
0.00
None
0.00
ANAPTYSBIO INC
SOLEShares638.16K
TypeSH
Market value$35.39M
5.41%
Sole
638.16K
Shared
0.00
None
0.00
MIRUM PHARMACEUTICALS INC
SOLEShares325.18K
TypeSH
Market value$30.04M
4.59%
Sole
325.18K
Shared
0.00
None
0.00
DYNE THERAPEUTICS INC
SOLEShares1.65M
TypeSH
Market value$29.97M
4.58%
Sole
1.65M
Shared
0.00
None
0.00
BIOGEN INC
SOLEShares140.72K
TypeSH
Market value$25.80M
3.95%
Sole
140.72K
Shared
0.00
None
0.00
DISC MEDICINE INC
SOLEShares401.72K
TypeSH
Market value$25.69M
3.93%
Sole
401.72K
Shared
0.00
None
0.00
IOVANCE BIOTHERAPEUTICS INC
SOLEShares6.35M
TypeSH
Market value$22.29M
3.41%
Sole
6.35M
Shared
0.00
None
0.00
SYNDAX PHARMACEUTICALS INC
SOLEShares864.99K
TypeSH
Market value$20.21M
3.09%
Sole
864.99K
Shared
0.00
None
0.00
ANNEXON INC
SOLEShares2.95M
TypeSH
Market value$16.33M
2.50%
Sole
2.95M
Shared
0.00
None
0.00
AMICUS THERAPEUTICS INC
SOLEShares1.11M
TypeSH
Market value$16.09M
2.46%
Sole
1.11M
Shared
0.00
None
0.00
NOVOCURE LTD
SOLEShares1.28M
TypeSH
Market value$13.96M
2.13%
Sole
1.28M
Shared
0.00
None
0.00
ULTRAGENYX PHARMACEUTICAL IN
SOLEShares596.50K
TypeSH
Market value$12.50M
1.91%
Sole
596.50K
Shared
0.00
None
0.00
PROTHENA CORP PLC
SOLEShares1.21M
TypeSH
Market value$11.75M
1.80%
Sole
1.21M
Shared
0.00
None
0.00
BICARA THERAPEUTICS INC
SOLEShares550.41K
TypeSH
Market value$10.95M
1.67%
Sole
550.41K
Shared
0.00
None
0.00
CELLDEX THERAPEUTICS INC
SOLEShares296.41K
TypeSH
Market value$9.40M
1.44%
Sole
296.41K
Shared
0.00
None
0.00
CAREDX INC
SOLEShares531.87K
TypeSH
Market value$9.23M
1.41%
Sole
531.87K
Shared
0.00
None
0.00
ALKERMES PLC
SOLEShares242.56K
TypeSH
Market value$8.58M
1.31%
Sole
242.56K
Shared
0.00
None
0.00
COMPASS THERAPEUTICS INC
SOLEShares1.51M
TypeSH
Market value$8.01M
1.23%
Sole
1.51M
Shared
0.00
None
0.00
AGIOS PHARMACEUTICALS INC
SOLEShares213.60K
TypeSH
Market value$7.23M
1.11%
Sole
213.60K
Shared
0.00
None
0.00
ALIGN TECHNOLOGY INC
SOLEShares41.52K
TypeSH
Market value$7.12M
1.09%
Sole
41.52K
Shared
0.00
None
0.00
CAPRICOR THERAPEUTICS INC
SOLEShares229.76K
TypeSH
Market value$6.98M
1.07%
Sole
229.76K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
INSMED INCSOLE | COM PAR $.01 | 415.27K | SH | $67.90M 10.39% | 415.27K | 0.00 | 0.00 |
ACADIA PHARMACEUTICALS INCSOLE | COM | 2.87M | SH | $63.95M 9.78% | 2.87M | 0.00 | 0.00 |
PTC THERAPEUTICS INCSOLE | COM | 921.61K | SH | $62.79M 9.60% | 921.61K | 0.00 | 0.00 |
BIOMARIN PHARMACEUTICAL INCSOLE | COM | 685.18K | SH | $38.71M 5.92% | 685.18K | 0.00 | 0.00 |
UNITED THERAPEUTICS CORPSOLE | COM | 62.81K | SH | $37.24M 5.70% | 62.81K | 0.00 | 0.00 |
ANAPTYSBIO INCSOLE | COM | 638.16K | SH | $35.39M 5.41% | 638.16K | 0.00 | 0.00 |
MIRUM PHARMACEUTICALS INCSOLE | COM | 325.18K | SH | $30.04M 4.59% | 325.18K | 0.00 | 0.00 |
DYNE THERAPEUTICS INCSOLE | COM | 1.65M | SH | $29.97M 4.58% | 1.65M | 0.00 | 0.00 |
BIOGEN INCSOLE | COM | 140.72K | SH | $25.80M 3.95% | 140.72K | 0.00 | 0.00 |
DISC MEDICINE INCSOLE | COM | 401.72K | SH | $25.69M 3.93% | 401.72K | 0.00 | 0.00 |
IOVANCE BIOTHERAPEUTICS INCSOLE | COM | 6.35M | SH | $22.29M 3.41% | 6.35M | 0.00 | 0.00 |
SYNDAX PHARMACEUTICALS INCSOLE | COM | 864.99K | SH | $20.21M 3.09% | 864.99K | 0.00 | 0.00 |
ANNEXON INCSOLE | COM | 2.95M | SH | $16.33M 2.50% | 2.95M | 0.00 | 0.00 |
AMICUS THERAPEUTICS INCSOLE | COM | 1.11M | SH | $16.09M 2.46% | 1.11M | 0.00 | 0.00 |
NOVOCURE LTDSOLE | ORD SHS | 1.28M | SH | $13.96M 2.13% | 1.28M | 0.00 | 0.00 |
ULTRAGENYX PHARMACEUTICAL INSOLE | COM | 596.50K | SH | $12.50M 1.91% | 596.50K | 0.00 | 0.00 |
PROTHENA CORP PLCSOLE | SHS | 1.21M | SH | $11.75M 1.80% | 1.21M | 0.00 | 0.00 |
BICARA THERAPEUTICS INCSOLE | COM | 550.41K | SH | $10.95M 1.67% | 550.41K | 0.00 | 0.00 |
CELLDEX THERAPEUTICS INCSOLE | COM NEW | 296.41K | SH | $9.40M 1.44% | 296.41K | 0.00 | 0.00 |
CAREDX INCSOLE | COM | 531.87K | SH | $9.23M 1.41% | 531.87K | 0.00 | 0.00 |
ALKERMES PLCSOLE | SHS | 242.56K | SH | $8.58M 1.31% | 242.56K | 0.00 | 0.00 |
COMPASS THERAPEUTICS INCSOLE | COM | 1.51M | SH | $8.01M 1.23% | 1.51M | 0.00 | 0.00 |
AGIOS PHARMACEUTICALS INCSOLE | COM | 213.60K | SH | $7.23M 1.11% | 213.60K | 0.00 | 0.00 |
ALIGN TECHNOLOGY INCSOLE | COM | 41.52K | SH | $7.12M 1.09% | 41.52K | 0.00 | 0.00 |
CAPRICOR THERAPEUTICS INCSOLE | COM NEW | 229.76K | SH | $6.98M 1.07% | 229.76K | 0.00 | 0.00 |
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