Palo Alto Investors LP
Annual return '25
+51.5%
SPY '25
+17.7%
Alpha
+33.7ptsvs SPY
Invested
$653.9M
Holdings
51
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 99%. 3 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$INSM
INSMED INC
Q1 2026: Increased +19.2% (490.5k → 584.8k shares)
10.4%
02
$ACAD
ACADIA PHARMACEUTICALS INC
Held since at least Q1 2024
9.8%
03
$PTCT
PTC THERAPEUTICS INC
Held since at least Q1 2024
9.6%
04
$BMRN
BIOMARIN PHARMACEUTICAL INC
Held since at least Q1 2024
5.9%
05
$UTHR
UNITED THERAPEUTICS CORP
Held since at least Q1 2024
5.7%
06
$ANAB
ANAPTYSBIO INC
Held since at least Q1 2024
5.4%
07
$MIRM
MIRUM PHARMACEUTICALS INC
Q1 2026: Sold 4.9% (395.8k → 376.5k shares)
4.6%
08
$DYN
DYNE THERAPEUTICS INC
Held since at least Q1 2024
4.6%
09
$BIIB
BIOGEN INC
Held since at least Q1 2024
3.9%
10
$IRON
DISC MEDICINE INC
Q1 2026: Exited (was 187.8k shares)
3.9%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 10:33 UTC.