Palo Alto Investors LP Long-Term Concentrated

Location: Palo Alto, CA

CIK: 0001306923 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 17, 2026

Total Value: $718M (100.0% shares, 0.0% debt)

Holdings (49)

INSM INSMED INC 11.9%
Value $85.19M Shares 489,482 Est. Cost $17.79 Unrealized +925.7%
FOLD AMICUS THERAPEUTICS INC 10.3%
Value $74.13M Shares 5,205,767 Est. Cost $9.63 Unrealized +2.1%
PTCT PTC THERAPEUTICS INC 9.6%
Value $68.66M Shares 903,916 Est. Cost $46.25 Unrealized +57.1%
ACAD ACADIA PHARMACEUTICALS INC 9.2%
Value $66.35M Shares 2,484,031 Est. Cost $26.96 Unrealized -11.4%
BMRN BIOMARIN PHARMACEUTICAL INC 6.2%
Value $44.35M Shares 746,256 Est. Cost $83.16 Unrealized -34.5%
ANAB ANAPTYSBIO INC 4.7%
Value $33.45M Shares 690,032 Est. Cost $19.77 Unrealized +97.2%
BIIB BIOGEN INC 4.5%
Value $32.31M Shares 183,571 Est. Cost $256.18 Unrealized -36.2%
DYN DYNE THERAPEUTICS INC 4.0%
Value $28.8M Shares 1,472,197 Est. Cost $13.00 Unrealized +45.7%
UTHR UNITED THERAPEUTICS CORP 3.9%
Value $28.35M Shares 58,186 Est. Cost $89.23 Unrealized +421.9%
IRON DISC MEDICINE INC 3.5%
Value $25.21M Shares 317,456 Est. Cost $61.08 Unrealized +38.3%
IOVA IOVANCE BIOTHERAPEUTICS INC 2.7%
Value $19.43M Shares 7,116,676 Est. Cost $4.09 Unrealized -43.4%
NVCR NOVOCURE LTD 2.3%
Value $16.8M Shares 1,298,964 Est. Cost $34.92 Unrealized -63.2%
SNDX SYNDAX PHARMACEUTICALS INC 2.3%
Value $16.69M Shares 794,507 Est. Cost $15.82 Unrealized +10.3%
GOSS GOSSAMER BIO INC 1.9%
Value $13.86M Shares 4,471,592 Est. Cost $1.58 Unrealized +80.7%
CMPX COMPASS THERAPEUTICS INC 1.9%
Value $13.6M Shares 2,532,419 Est. Cost $4.62 Unrealized 0.0%
PRTA PROTHENA CORP PLC 1.8%
Value $12.61M Shares 1,320,510 Est. Cost $20.95 Unrealized -51.4%
MIRM MIRUM PHARMACEUTICALS INC 1.7%
Value $12.36M Shares 156,421 Est. Cost $48.52 Unrealized +47.9%
ANNX ANNEXON INC 1.7%
Value $11.97M Shares 2,384,192 Est. Cost $3.82 Unrealized 0.0%
RARE ULTRAGENYX PHARMACEUTICAL IN 1.5%
Value $10.61M Shares 461,294 Est. Cost $31.21 Unrealized +5.4%
DNLI DENALI THERAPEUTICS INC 1.5%
Value $10.59M Shares 641,239 Est. Cost $15.17 Unrealized +11.3%
CDNA CAREDX INC 1.3%
Value $9.01M Shares 478,220 Est. Cost $15.10 Unrealized +10.9%
EHTH EHEALTH INC 1.0%
Value $7.045M Shares 1,531,429 Est. Cost $38.13 Unrealized -88.4%
ALKS ALKERMES PLC 0.9%
Value $6.787M Shares 242,560 Est. Cost $24.20 Unrealized +23.8%
CAPR CAPRICOR THERAPEUTICS INC 0.9%
Value $6.531M Shares 226,304 Est. Cost $13.06 Unrealized 0.0%
TSHA TAYSHA GENE THERAPIES INC 0.9%
Value $6.508M Shares 1,183,195 Est. Cost $1.87 Unrealized +159.1%
ALGN ALIGN TECHNOLOGY INC 0.9%
Value $6.483M Shares 41,520 Est. Cost $150.48 Unrealized -4.8%
AGIO AGIOS PHARMACEUTICALS INC 0.8%
Value $5.784M Shares 212,499 Est. Cost $33.17 Unrealized +5.8%
BCAX BICARA THERAPEUTICS INC 0.7%
Value $5.025M Shares 298,575 Est. Cost $17.08 Unrealized 0.0%
NUVB NUVATION BIO INC 0.7%
Value $4.821M Shares 538,079 Est. Cost $2.12 Unrealized +192.8%
ACRS ACLARIS THERAPEUTICS INC 0.7%
Value $4.716M Shares 1,566,840 Est. Cost $1.44 Unrealized +75.3%
XENE XENON PHARMACEUTICALS INC 0.6%
Value $4.326M Shares 96,519 Est. Cost $42.00 Unrealized 0.0%
TVTX TRAVERE THERAPEUTICS INC 0.6%
Value $4.231M Shares 110,719 Est. Cost $23.56 Unrealized +38.0%
EW EDWARDS LIFESCIENCES CORP 0.4%
Value $2.868M Shares 33,640 Est. Cost $72.66 Unrealized +13.0%
NBIX NEUROCRINE BIOSCIENCES INC 0.4%
Value $2.57M Shares 18,117 Est. Cost $129.01 Unrealized +12.3%
STOK STOKE THERAPEUTICS INC 0.3%
Value $2.286M Shares 72,022 Est. Cost $6.06 Unrealized +396.2%
CRSP CRISPR THERAPEUTICS AG 0.3%
Value $2.162M Shares 41,226 Est. Cost $38.70 Unrealized +54.8%
BNTX BIONTECH SE-ADR 0.3%
Value $1.867M Shares 19,614 Est. Cost $118.77 Unrealized
ORKA ORUKA THERAPEUTICS INC 0.3%
Value $1.818M Shares 59,985 Est. Cost $14.82 Unrealized +88.0%
BCYC BICYCLE THERAPEUTICS PLC-ADR 0.2%
Value $1.565M Shares 221,071 Est. Cost $16.07 Unrealized
PYXS PYXIS ONCOLOGY INC 0.2%
Value $1.193M Shares 1,037,421 Est. Cost $2.98 Unrealized +18.2%
ALDX ALDEYRA THERAPEUTICS INC 0.2%
Value $1.168M Shares 225,465 Est. Cost $5.95 Unrealized -13.6%
HUM HUMANA INC 0.1%
Value $1.021M Shares 3,985 Est. Cost $369.63 Unrealized -29.3%
INSP INSPIRE MEDICAL SYSTEMS INC 0.1%
Value $809K Shares 8,772 Est. Cost $95.68 Unrealized 0.0%
CMPS COMPASS PATHWAYS PLC ADR 0.1%
Value $798K Shares 115,616 Est. Cost $6.90 Unrealized
URGN UROGEN PHARMA LTD 0.1%
Value $574K Shares 24,500 Est. Cost $27.01 Unrealized -19.7%
ABEO ABEONA THERAPEUTICS INC 0.1%
Value $574K Shares 108,865 Est. Cost $6.04 Unrealized -16.7%
PRQR PROQR THERAPEUTICS NV 0.1%
Value $381K Shares 188,807 Est. Cost $2.18 Unrealized +7.0%
GENERATION BIO CO 0.0%
Value $85,467 Shares 15,047 Est. Cost $5.68 Unrealized
AKTX AKARI THERAPEUTICS PLC-ADR 0.0%
Value $42,201 Shares 146,024 Est. Cost $1.22 Unrealized