Palo Alto Investors LP 13F holdings, Q2 2025
Holdings as of June 30, 2025 · filings on SEC EDGAR · latest filing →
Palo Alto Investors LP disclosed 45 US equity positions worth $470.0m in its Q2 2025 13F filing. The largest position was INSM at 18.5% of the reported book, followed by ACAD and BMRN. Against the Q1 2025 filing, it opened 7 new positions, added to 4 and reduced 14 among the top 45 holdings.
What did Palo Alto Investors LP own in Q2 2025? Top 45 positions
| # | Stock | Sector | Weight | Value | Shares | Δ shares | vs Q1 2025 |
|---|---|---|---|---|---|---|---|
| 1 | INSM INSMED INC | Healthcare | 18.5% | $87.1m | 865,113 | -12% | reduced |
| 2 | ACAD ACADIA PHARMACEUTICALS INC | Healthcare | 11.8% | $55.3m | 2,563,209 | -4% | reduced |
| 3 | BMRN BIOMARIN PHARMACEUTICAL INC | Healthcare | 9.8% | $46.2m | 840,470 | -15% | reduced |
| 4 | AM6 AMICUS THERAPEUTICS INC | 6.8% | $32.1m | 5,610,513 | -24% | reduced | |
| 5 | UTHR UNITED THERAPEUTICS CORP | Healthcare | 5.8% | $27.4m | 95,482 | -9% | reduced |
| 6 | BIIB BIOGEN INC | Healthcare | 5.5% | $25.8m | 205,759 | 0% | held |
| 7 | ALNY ALNYLAM PHARMACEUTICALS INC | Healthcare | 5.2% | $24.6m | 75,535 | -10% | reduced |
| 8 | PTCT PTC THERAPEUTICS INC | Healthcare | 4.2% | $19.9m | 406,469 | 1% | added |
| 9 | ANAB ANAPTYSBIO INC | Healthcare | 3.8% | $18.0m | 812,821 | -20% | reduced |
| 10 | NVCR NOVOCURE LTD | Healthcare | 3.6% | $17.1m | 962,396 | -4% | reduced |
| 11 | STAA STAAR SURGICAL CO | Healthcare | 2.8% | $13.3m | 791,879 | 51% | added |
| 12 | AGIO AGIOS PHARMACEUTICALS INC | Healthcare | 1.9% | $8.9m | 268,783 | -3% | reduced |
| 13 | PROTHENA CORP PLC | 1.6% | $7.7m | 1,274,753 | -23% | reduced | |
| 14 | IRON DISC MEDICINE INC | Healthcare | 1.6% | $7.7m | 145,691 | – | new |
| 15 | ALGN ALIGN TECHNOLOGY INC | Healthcare | 1.5% | $7.2m | 37,772 | 0% | held |
| 16 | GOSS GOSSAMER BIO INC | Healthcare | 1.5% | $7.1m | 5,739,013 | -9% | reduced |
| 17 | EHTH EHEALTH INC | Financial Services | 1.5% | $6.9m | 1,577,850 | -6% | reduced |
| 18 | ALKS ALKERMES PLC | Healthcare | 1.3% | $6.3m | 221,021 | -0% | held |
| 19 | IOVA IOVANCE BIOTHERAPEUTICS INC | Healthcare | 1.3% | $5.9m | 3,429,329 | 7% | added |
| 20 | SNDX SYNDAX PHARMACEUTICALS INC | Healthcare | 0.9% | $4.2m | 444,367 | 0% | held |
| 21 | RNAGBP AVIDITY BIOSCIENCES INC | 0.7% | $3.4m | 118,886 | – | new | |
| 22 | DNLI DENALI THERAPEUTICS INC | Healthcare | 0.7% | $3.4m | 239,809 | – | new |
| 23 | MIRM MIRUM PHARMACEUTICALS INC | Healthcare | 0.7% | $3.3m | 64,700 | 0% | held |
| 24 | EW EDWARDS LIFESCIENCES CORP | Healthcare | 0.7% | $3.1m | 39,473 | 0% | held |
| 25 | TSHA TAYSHA GENE THERAPIES INC | Healthcare | 0.6% | $2.9m | 1,246,033 | -12% | reduced |
| 26 | BNTX BIONTECH SE-ADR | Healthcare | 0.6% | $2.7m | 25,206 | 0% | held |
| 27 | DYN DYNE THERAPEUTICS INC | Healthcare | 0.5% | $2.5m | 264,976 | -21% | reduced |
| 28 | CRSP CRISPR THERAPEUTICS AG | Healthcare | 0.5% | $2.2m | 44,625 | – | new |
| 29 | ACRS ACLARIS THERAPEUTICS INC | Healthcare | 0.4% | $2.0m | 1,390,028 | 79% | added |
| 30 | RARE ULTRAGENYX PHARMACEUTICAL IN | Healthcare | 0.4% | $1.8m | 48,750 | – | new |
| 31 | BCYC BICYCLE THERAPEUTICS PLC-ADR | Healthcare | 0.4% | $1.7m | 248,934 | 0% | held |
| 32 | NBIX NEUROCRINE BIOSCIENCES INC | Healthcare | 0.4% | $1.7m | 13,334 | 0% | held |
| 33 | TVTX TRAVERE THERAPEUTICS INC | Healthcare | 0.3% | $1.6m | 110,719 | 0% | held |
| 34 | NUVB NUVATION BIO INC | Healthcare | 0.3% | $1.5m | 772,652 | 0% | held |
| 35 | STOK STOKE THERAPEUTICS INC | Healthcare | 0.3% | $1.4m | 125,861 | 0% | held |
| 36 | PYXS PYXIS ONCOLOGY INC | 0.2% | $1.1m | 1,037,421 | 0% | held | |
| 37 | HUM HUMANA INC | Healthcare | 0.2% | $974.3k | 3,985 | 0% | held |
| 38 | ALDX ALDEYRA THERAPEUTICS INC | Healthcare | 0.2% | $863.5k | 225,465 | 0% | held |
| 39 | KPTI KARYOPHARM THERAPEUTICS INC | 0.2% | $809.9k | 187,911 | – | new | |
| 40 | MNLOUSD VYNE THERAPEUTICS INC PIPE | 0.2% | $735.0k | 445,434 | 0% | held | |
| 41 | ABEO ABEONA THERAPEUTICS INC | Healthcare | 0.1% | $618.4k | 108,865 | 0% | held |
| 42 | ALMS ALUMIS INC | 0.1% | $430.3k | 143,437 | – | new | |
| 43 | URGN UROGEN PHARMA LTD | Healthcare | 0.1% | $335.6k | 24,500 | 0% | held |
| 44 | AKTX AKARI THERAPEUTICS PLC-ADR | 0.0% | $170.8k | 146,024 | 0% | held | |
| 45 | GBIOGBX GENERATION BIO CO | 0.0% | $48.2k | 150,475 | 0% | held |
Weights are shares of the reported long US equity book (options excluded). Values are as filed, normalised to whole dollars. Share changes compare against the immediately preceding filing only.