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Avoro Capital Advisors Portfolio holdings

AUM $11.1B
1-Year Est. Return 207.82%
This Fund
S&P 500
This Quarter Est. Return
+29.18%
1 Year Est. Return
+207.82%
3 Year Est. Return
+512.05%
5 Year Est. Return
+1,035%
10 Year Est. Return
+45,230.58%
AUM
$11.1B
AUM Growth
+$971M
Cap. Flow
-$906M
Cap. Flow %
-8.14%
Top 10 Hldgs %
79.46%
Holding
34
New
2
Increased
12
Reduced
3
Closed
8
Avg Time Held Equity + Options
10.4 quarters
Top 10 Avg Time Held Equity + Options
9.9 quarters
Top 20 Avg Time Held Equity + Options
9.2 quarters
Avg Time Held Equity only
10.4 quarters
Top 10 Avg Time Held Equity only
9.9 quarters
Top 20 Avg Time Held Equity only
9.2 quarters

Top Buys

Rank Stock Value
1
CYTK icon
Cytokinetics
CYTK
+$120M
2
UTHR icon
United Therapeutics
UTHR
+$83.2M
3
DFTX icon
Definium Therapeutics
DFTX
+$54.1M
4
COAG icon
Hemab Therapeutics
COAG
+$53.1M
5
ARWR icon
Arrowhead Research
ARWR
+$48.4M

Top Sells

Rank Stock Value
1
APLS icon
Apellis Pharmaceuticals
APLS
+$492M
2
CNTA
Centessa Pharmaceuticals
CNTA
+$454M
3
TERN icon
Terns Pharmaceuticals
TERN
+$300M
4
SLNO icon
Soleno Therapeutics
SLNO
+$77M
5
ALKS icon
Alkermes
ALKS
+$42.4M

Sector Composition

Rank Sector Weight
1 Healthcare 100%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow Held Since
UTHR icon
1
United Therapeutics
UTHR
$23.6B
$1.51B 13.52%
2,777,777
+147,777
+6% +$83.2M
2020 Q4
22 quarters
ASND icon
2
Ascendis Pharma A/S
ASND
$14.9B
$1.36B 12.24%
5,111,111
+48,611
+1% +$11.4M
2021 Q2
20 quarters
KRYS icon
3
Krystal Biotech
KRYS
$9.83B
$1.07B 9.64%
2,888,888
– –
2021 Q4
18 quarters
MDGL icon
4
Madrigal Pharmaceuticals
MDGL
$10.8B
$984M 8.84%
1,833,333
+15,152
+0.8% +$7.76M
2018 Q2
32 quarters
ARGX icon
5
argenx
ARGX
$51.1B
$928M 8.33%
1,000,000
– –
2017 Q2
36 quarters
ARWR icon
6
Arrowhead Research
ARWR
$8.58B
$926M 8.31%
11,355,555
+655,556
+6% +$48.4M
2023 Q2
12 quarters
KYMR icon
7
Kymera Therapeutics
KYMR
$9.32B
$857M 7.7%
7,474,747
– –
2021 Q3
19 quarters
RVMD icon
8
Revolution Medicines
RVMD
$41.6B
$430M 3.86%
2,297,000
-47,444
-2% -$6.93M
2025 Q4
2 quarters
CYTK icon
9
Cytokinetics
CYTK
$8.73B
$426M 3.82%
4,999,999
+1,666,666
+50% +$120M
2026 Q1
1 quarter
CELC icon
10
Celcuity
CELC
$3.22B
$356M 3.19%
3,400,000
+25,000
+0.7% +$2.88M
2025 Q4
2 quarters
GPCR icon
11
Structure Therapeutics
GPCR
$1.71B
$352M 3.16%
6,555,555
– –
2025 Q3
3 quarters
XENE icon
12
Xenon Pharmaceuticals
XENE
$3.47B
$349M 3.13%
5,777,777
– –
2018 Q2
32 quarters
DFTX icon
13
Definium Therapeutics
DFTX
$4.73B
$338M 3.04%
7,188,888
+2,188,888
+44% +$54.1M
2025 Q4
2 quarters
QURE icon
14
uniQure
QURE
$1.51B
$310M 2.78%
6,727,777
+768,182
+13% +$20.1M
2024 Q4
6 quarters
VERA icon
15
Vera Therapeutics
VERA
$2B
$246M 2.21%
5,723,888
-165,000
-3% -$6.15M
2024 Q1
9 quarters
TSHA icon
16
Taysha Gene Therapies
TSHA
$1.35B
$163M 1.46%
23,888,888
+2,188,888
+10% +$13M
2023 Q3
11 quarters
OCUL icon
17
Ocular Therapeutix
OCUL
$1.66B
$123M 1.11%
12,540,000
+225,000
+2% +$2.04M
2024 Q1
9 quarters
DMRA
18
Damora Therapeutics
DMRA
$1.25B
$98.4M 0.88%
3,783,000
– –
2026 Q1
1 quarter
COAG icon
19
Hemab Therapeutics
COAG
$1.42B
$70.7M 0.64%
+1,925,150
New +$53.1M
2026 Q2
0 quarters
GHRS icon
20
GH Research
GHRS
$1.37B
$48.4M 0.43%
1,800,000
– –
2025 Q4
2 quarters
VRDN icon
21
Viridian Therapeutics
VRDN
$2.07B
$45.9M 0.41%
2,500,000
+1,000,000
+67% +$16.1M
2025 Q4
2 quarters
SEPN icon
22
Septerna Inc
SEPN
$1.75B
$44.8M 0.4%
1,337,500
– –
2024 Q4
6 quarters
AVTX icon
23
Avalo Therapeutics
AVTX
$710M
$43.1M 0.39%
2,333,333
+923,333
+65% +$14.6M
2026 Q1
1 quarter
FTH icon
24
Faeth Therapeutics
FTH
$601M
$36.1M 0.32%
+1,444,039
New +$33.4M
2026 Q2
0 quarters
WHWK icon
25
Whitehawk Therapeutics
WHWK
$193M
$13.1M 0.12%
2,849,402
– –
2021 Q2
20 quarters
1
2

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Avoro Capital Advisors's Q2 2026 Portfolio in Review

As of Q2 2026, Avoro Capital Advisors held 34 positions worth $11.1B, up 9.6% from $10.2B the previous quarter. Its ten largest holdings account for 79% of the portfolio.

Avoro Capital Advisors withdrew a net $906M in Q2 2026, closing 8 positions and reducing 3 holdings. Its most notable exit was Apellis Pharmaceuticals, an estimated $492M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, up from 100% a quarter earlier.

Against the trend, Avoro Capital Advisors opened a new position in Hemab Therapeutics worth $70.7M.

  • Avoro Capital Advisors's largest Q2 2026 buy was Hemab Therapeutics: 1,925,150 shares worth $70.7M.
  • Avoro Capital Advisors added most to Cytokinetics in Q2 2026, an estimated $120M increase.
  • Avoro Capital Advisors's biggest Q2 2026 reduction was Revolution Medicines, cutting an estimated $6.93M.
  • Avoro Capital Advisors fully exited Apellis Pharmaceuticals in Q2 2026, selling an estimated $492M.
  • Avoro Capital Advisors's ten largest holdings make up 79% of its $11.1B portfolio in Q2 2026.
  • Avoro Capital Advisors opened 2 new positions and closed 8 in Q2 2026.
  • Avoro Capital Advisors's portfolio value rose 9.6% quarter-over-quarter to $11.1B.

Based on Avoro Capital Advisors's 13F filing for Q2 2026, filed 14 Aug 2026.