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Avoro Capital Advisors Portfolio holdings

AUM $10.2B
1-Year Est. Return 149.19%
This Fund
S&P 500
This Quarter Est. Return
+26%
1 Year Est. Return
+149.19%
3 Year Est. Return
+425.03%
5 Year Est. Return
+775.33%
10 Year Est. Return
+45,729.2%
AUM
$7.24B
AUM Growth
+$829M
Cap. Flow
-$224M
Cap. Flow %
-3.09%
Top 10 Hldgs %
63.72%
Holding
51
New
5
Increased
21
Reduced
4
Closed
9

Top Buys

Rank Stock Value
1
XBI icon
State Street SPDR S&P Biotech ETF
XBI
+$330M
2
CERE
Cerevel Therapeutics Holdings, Inc. Common Stock
CERE
+$190M
3
ITCI
Intra-Cellular Therapies Inc.
ITCI
+$130M
4
ARGX icon
argenx
ARGX
+$109M
5
GPCR icon
Structure Therapeutics
GPCR
+$76.4M

Top Sells

Rank Stock Value
1
HZNP
Horizon Therapeutics Public Limited Company Ordinary Shares
HZNP
+$810M
2
SGEN
Seagen Inc. Common Stock
SGEN
+$373M
3
MRTX
Mirati Therapeutics, Inc. Common Stock
MRTX
+$100M
4
RARE icon
Ultragenyx Pharmaceutical
RARE
+$44.6M
5
NUVL
Nuvalent
NUVL
+$39.2M

Sector Composition

Rank Sector Weight
1 Healthcare 94.05%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
APLS
1
DELISTED
Apellis Pharmaceuticals
APLS
$665M 9.19%
11,111,111
– –
UTHR icon
2
United Therapeutics
UTHR
$25.9B
$629M 8.68%
2,858,888
+6,388
+0.2% +$1.47M
ASND icon
3
Ascendis Pharma A/S
ASND
$16.6B
$473M 6.53%
3,755,555
+85,555
+2% +$8.53M
ARGX icon
4
argenx
ARGX
$54.9B
$470M 6.49%
1,234,567
+234,567
+23% +$109M
MDGL icon
5
Madrigal Pharmaceuticals
MDGL
$12.4B
$437M 6.04%
1,888,888
+333,888
+21% +$58.4M
SRPT icon
6
Sarepta Therapeutics
SRPT
$1.64B
$419M 5.79%
4,344,444
+319,444
+8% +$30.6M
BMRN icon
7
BioMarin Pharmaceuticals
BMRN
$11.9B
$415M 5.73%
4,300,000
+450,000
+12% +$39.8M
XBI icon
8
State Street SPDR S&P Biotech ETF
XBI
$9.98B
$397M 5.48%
+4,444,444
New +$330M
FOLD
9
DELISTED
Amicus Therapeutics
FOLD
$389M 5.37%
27,400,000
– –
CERE
10
DELISTED
Cerevel Therapeutics Holdings, Inc. Common Stock
CERE
$320M 4.42%
7,555,555
+6,600,000
+691% +$190M
KRYS icon
11
Krystal Biotech
KRYS
$10.6B
$318M 4.4%
2,565,555
– –
MRTX
12
DELISTED
Mirati Therapeutics, Inc. Common Stock
MRTX
$287M 3.97%
4,886,840
-1,779,826
-27% -$100M
CBAY
13
DELISTED
Cymabay Therapeutics
CBAY
$262M 3.63%
11,111,111
+811,111
+8% +$14.4M
XENE icon
14
Xenon Pharmaceuticals
XENE
$6.15B
$261M 3.61%
5,666,666
+766,666
+16% +$27.1M
ALNY icon
15
Alnylam Pharmaceuticals
ALNY
$38.1B
$213M 2.94%
1,111,111
+100,000
+10% +$17M
ITCI
16
DELISTED
Intra-Cellular Therapies Inc.
ITCI
$162M 2.23%
+2,255,555
New +$130M
MLTX icon
17
MoonLake Immunotherapeutics
MLTX
$1.58B
$156M 2.15%
2,580,000
+580,001
+29% +$29.9M
KYMR icon
18
Kymera Therapeutics
KYMR
$8.6B
$96.1M 1.33%
3,775,000
-80,000
-2% -$1.43M
GPCR icon
19
Structure Therapeutics
GPCR
$3.39B
$95.1M 1.31%
2,333,333
+1,333,333
+133% +$76.4M
SNDX icon
20
Syndax Pharmaceuticals
SNDX
$1.68B
$91.2M 1.26%
4,222,222
+1,666,667
+65% +$25.6M
BCRX icon
21
BioCryst Pharmaceuticals
BCRX
$2.43B
$78.2M 1.08%
13,050,000
+1,500,000
+13% +$8.69M
IOVA icon
22
Iovance Biotherapeutics
IOVA
$2.03B
$54.5M 0.75%
6,700,000
– –
ROIV icon
23
Roivant Sciences
ROIV
$23.7B
$52.2M 0.72%
4,651,162
– –
KURA icon
24
Kura Oncology
KURA
$785M
$42.9M 0.59%
2,980,000
– –
SYRE icon
25
Spyre Therapeutics
SYRE
$8.25B
$39.6M 0.55%
1,839,138
+1,827,680
+15,951% +$25.2M
1
2 3

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GI
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VPIM
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OIA
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Avoro Capital Advisors's Q4 2023 Portfolio in Review

As of Q4 2023, Avoro Capital Advisors held 51 positions worth $7.24B, up 13% from $6.41B the previous quarter. Its ten largest holdings account for 64% of the portfolio.

Avoro Capital Advisors withdrew a net $224M in Q4 2023, closing 9 positions and reducing 4 holdings. Its most notable exit was Horizon Therapeutics Public Limited Company Ordinary Shares, an estimated $810M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 94% of assets, down from 100% a quarter earlier.

Against the trend, Avoro Capital Advisors opened a new position in State Street SPDR S&P Biotech ETF worth $397M.

  • Avoro Capital Advisors's largest Q4 2023 buy was State Street SPDR S&P Biotech ETF: 4,444,444 shares worth $397M.
  • Avoro Capital Advisors added most to Cerevel Therapeutics Holdings, Inc. Common Stock in Q4 2023, an estimated $190M increase.
  • Avoro Capital Advisors's biggest Q4 2023 reduction was Mirati Therapeutics, Inc. Common Stock, cutting an estimated $100M.
  • Avoro Capital Advisors fully exited Horizon Therapeutics Public Limited Company Ordinary Shares in Q4 2023, selling an estimated $810M.
  • Avoro Capital Advisors's ten largest holdings make up 64% of its $7.24B portfolio in Q4 2023.
  • Avoro Capital Advisors opened 5 new positions and closed 9 in Q4 2023.
  • Avoro Capital Advisors's portfolio value rose 13% quarter-over-quarter to $7.24B.

Based on Avoro Capital Advisors's 13F filing for Q4 2023, filed 14 Feb 2024.