Avoro Capital Advisors LLC

CIK

1633313

Location

NEW YORK, NY

Portfolio Value

Large $10,399,603,451

Diversification

Diversified

Filing Date

Global Rank

#412 / 8,603 ▲ 78 · as of Mar 2026

Top Industry

Biotechnology 82.4%

3Y Alpha vs SPY

+3.9%

Period ended 3 months ago

Filed May 15, 2026 · 55d

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+97.1%

SPY

+76.5%

Annualised alpha

+4.5%

Max drawdown

−30.0%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

30 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

17.2%

+3.7 pts

Top 5

51.6%

−2.1 pts

Top 10

77.1%

−1.2 pts

HHI

785

Diversified+15

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Healthcare	100.0%	$10,399,603,451	30

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

8 positions

Ticker	Company	Δ Shares	Shares	Value
OCUL	Ocular Therapeutix, Inc	+1,537,223	12,315,000	$104,308,050
TERN	Terns Pharmaceuticals, Inc.	+1,345,000	5,695,000	$300,240,400
CELC	Celcuity Inc.	+463,889	3,575,000	$408,050,500
XENE	Xenon Pharmaceuticals Inc.	+353,333	5,777,777	$335,977,732
RVMD	Revolution Medicines, Inc.	+174,444	2,344,444	$227,997,179
ARWR	Arrowhead Pharmaceuticals, Inc.	+74,999	10,699,999	$670,889,937
MDGL	Madrigal Pharmaceuticals, Inc.	+10,681	1,818,181	$951,763,208
ARGX	Argenx SE	+10,000	1,000,000	$730,250,000
No positions match the current search.

Trimmed

Positions the filer reduced

7 positions

Ticker	Company	Δ Shares	Shares	Value
CNTA	Centessa Pharmaceuticals plc	−3,125,100	11,430,455	$454,017,672
MNKD	Mannkind Corp	−2,244,444	2,200,000	$5,390,000
LXEO	Lexeo Therapeutics, Inc.	−1,425,000	1,875,000	$10,762,500
SLNO	Soleno Therapeutics Inc	−600,000	2,300,000	$77,004,000
ALKS	Alkermes plc.	−200,000	1,200,000	$42,432,000
QURE	uniQure N.V.	−190,405	5,959,595	$97,439,378
ASND	Ascendis Pharma A/S	−98,611	5,062,500	$1,157,945,625
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
UTHR	UNITED THERAPEUTICS Corp	3,010,000	$1,784,869,800
CYTK	Cytokinetics Inc	3,333,333	$219,699,978
DMRA	Damora Therapeutics, Inc.	3,783,000	$97,979,700
DFTX	Definium Therapeutics, Inc.	5,000,000	$94,500,000
AVTX	Avalo Therapeutics, Inc.	1,410,000	$21,051,300
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
PTCT	Ptc Therapeutics, Inc.	685,000	$52,032,600
ORKA	Oruka Therapeutics, Inc.	1,333,340	$40,413,535
APGE	Apogee Therapeutics, Inc.	500,000	$37,740,000
INCY	Incyte Corp	135,000	$13,333,950
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

30 positions · $10,399,603,451 total · as of Mar 31, 2026

All sectors Healthcare

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
UTHR	UNITED THERAPEUTICS Corp Healthcare	NEW	3,010,000	NEW	$1,784,869,800	NEW	17.16%
ASND	Ascendis Pharma A/S Healthcare	Reduced	5,062,500	-98,611	$1,157,945,625	+5.2%	11.13%
MDGL	Madrigal Pharmaceuticals, Inc. Healthcare	Added	1,818,181	+10,681	$951,763,208	−9.6%	9.15%
KRYS	Krystal Biotech, Inc. Healthcare	Held	2,888,888	0	$746,257,548	+4.8%	7.18%
ARGX	Argenx SE Healthcare	Added	1,000,000	+10,000	$730,250,000	−12.3%	7.02%
ARWR	Arrowhead Pharmaceuticals, Inc. Healthcare	Added	10,699,999	+74,999	$670,889,937	−4.9%	6.45%
KYMR	Kymera Therapeutics, Inc. Healthcare	Held	7,474,747	0	$622,571,677	+7.0%	5.99%
APLS	Apellis Pharmaceuticals, Inc. Healthcare	Held	12,222,222	0	$491,699,991	+60.2%	4.73%
CNTA	Centessa Pharmaceuticals plc Healthcare	Reduced	11,430,455	-3,125,100	$454,017,672	+24.7%	4.37%
CELC	Celcuity Inc. Healthcare	Added	3,575,000	+463,889	$408,050,500	+31.5%	3.92%
XENE	Xenon Pharmaceuticals Inc. Healthcare	Added	5,777,777	+353,333	$335,977,732	+38.2%	3.23%
GPCR	Structure Therapeutics Inc. Healthcare	Held	6,555,555	0	$315,977,751	−30.7%	3.04%
TERN	Terns Pharmaceuticals, Inc. Healthcare	Added	5,695,000	+1,345,000	$300,240,400	+70.8%	2.89%
VERA	Vera Therapeutics, Inc. Healthcare	Held	5,888,888	0	$236,909,964	−20.6%	2.28%
RVMD	Revolution Medicines, Inc. Healthcare	Added	2,344,444	+174,444	$227,997,179	+31.9%	2.19%
CYTK	Cytokinetics Inc Healthcare	NEW	3,333,333	NEW	$219,699,978	NEW	2.11%
OCUL	Ocular Therapeutix, Inc Healthcare	Added	12,315,000	+1,537,223	$104,308,050	−20.3%	1.00%
DMRA	Damora Therapeutics, Inc. Healthcare	NEW	3,783,000	NEW	$97,979,700	NEW	0.94%
QURE	uniQure N.V. Healthcare	Reduced	5,959,595	-6,340,405	$97,439,378	−66.9%	0.94%
TSHA	Taysha Gene Therapies, Inc. Healthcare	Held	21,700,000	0	$96,999,000	−18.7%	0.93%
DFTX	Definium Therapeutics, Inc. Healthcare	NEW	5,000,000	NEW	$94,500,000	NEW	0.91%
SLNO	Soleno Therapeutics Inc Healthcare	Reduced	2,300,000	-600,000	$77,004,000	−42.6%	0.74%
ALKS	Alkermes plc. Healthcare	Reduced	1,200,000	-200,000	$42,432,000	+8.3%	0.41%
SEPN	Septerna, Inc. Healthcare	Held	1,337,500	0	$32,140,125	−13.8%	0.31%
VRDN	Viridian Therapeutics, Inc.\DE Healthcare	Held	1,500,000	0	$29,340,000	−37.1%	0.28%
GHRS	GH Research PLC Healthcare	Held	1,800,000	0	$25,308,000	+10.7%	0.24%
AVTX	Avalo Therapeutics, Inc. Healthcare	NEW	1,410,000	NEW	$21,051,300	NEW	0.20%
LXEO	Lexeo Therapeutics, Inc. Healthcare	Reduced	1,875,000	-1,425,000	$10,762,500	−67.2%	0.10%
WHWK	Whitehawk Therapeutics, Inc. Healthcare	Held	2,849,402	0	$9,830,436	+42.6%	0.09%
MNKD	Mannkind Corp Healthcare	Reduced	2,200,000	-2,244,444	$5,390,000	−78.6%	0.05%