SEC 13F Intelligence

Managers / Q1 2026

Palo Alto Investors LP

CIK 0001306923 · 101 UNIVERSITY AVE, SUITE 200, PALO ALTO, CA, 94301 · 650-325-0772

Reported Value
$654M
Q1 2026
Positions
51
Filings on Record
33
2019–present window
Filed
May 15, 2026
original filing

Summary

Palo Alto Investors Lp reported $654M in U.S.-listed holdings across 51 positions for Q1 2026.

Its largest position, IM8N, represents 10.4% of the portfolio.

Compared with Q4 2025, the fund opened 5 new positions and exited 3.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $1.9BQ4 ’18Q1 ’19: $2.4BQ2 ’19: $2.1BQ3 ’19: $1.5BQ4 ’19: $1.8BQ4 ’19Q1 ’20: $1.2BQ2 ’20: $1.7BQ3 ’20: $1.8BQ4 ’20: $1.9BQ4 ’20Q1 ’21: $1.8BQ2 ’21: $1.8BQ3 ’21: $1.7BQ4 ’21: $1.6BQ4 ’21Q1 ’22: $1.3BQ2 ’22: $1.1BQ3 ’22: $1.3BQ4 ’22: $1.17TQ4 ’22Q1 ’23: $1.2BQ2 ’23: $1.2BQ3 ’23: $1.1BQ4 ’23: $1.1BQ4 ’23Q1 ’24: $887MQ2 ’24: $863MQ3 ’24: $770MQ4 ’24: $645MQ4 ’24Q1 ’25: $525MQ2 ’25: $470MQ3 ’25: $540MQ4 ’25: $718MQ4 ’25Q1 ’26: $654Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 93.8%Other: 5.6%ADR: 0.5%
  • Common Stock · 93.8% · $614M
  • Other · 5.6% · $37M
  • ADR · 0.5% · $3M

Quarter-over-Quarter Changes full breakdown →

Holdings — Q1 2026

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Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$654M51May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$718M49Feb 17, 202613F-HRchanges · EDGAR ↗
Q3 2025$540M44Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$470M45Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$525M44May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$645M43Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$770M45Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$863M39Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$887M38May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$1.1B34Feb 15, 2024RESTATEMENTchanges · EDGAR ↗
Q3 2023$1.1B29Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$1.2B30Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$1.2B30May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$1.17T29Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.3B32Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$1.1B33Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$1.3B35May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$1.6B37Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$1.7B42Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$1.8B42Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$1.8B42May 17, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.9B41Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.8B43Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$1.7B41Aug 14, 202013F-HRchanges · EDGAR ↗
Q1 2020$1.2B37May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$1.8B37Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$1.5B37Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$2.1B39Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019$2.4B37May 15, 201913F-HRchanges · EDGAR ↗
Q4 2018$1.9B36Feb 14, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.