Avoro Capital Advisors LLC
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Avoro Capital Advisors LLC reported 26 stock positions worth $11.1 billion. Its top holding was United Therapeutics (UTHR) at 13.5% of the portfolio, followed by Ascendis Pharma A/S (ASND, 12.2%) and Krystal Biotech (KRYS, 9.6%). Compared with Q1 2026, it opened 2 new positions, sold out of 6, added to 12 and reduced 3. The biggest buy was Definium Therapeutics (DFTX, shares +44%) and the biggest sale an exit from Apellis Pharmaceuticals (APLS).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001633313
- Portfolio Value
- $11.1B (Q2 2026)
- SEC Filing
- 0001104659-26-096427 ↗ filed Aug 14, 2026
Holdings Value
Holdings 26 stocks · $11.1B
| UTHR United Therapeutics Corp. | 13.52% | 2,777,777 | $1.5B | Add +5.6% |
| ASND Ascendis Pharma A/S | 12.24% | 5,111,111 | $1.4B | Add +1.0% |
| KRYS Krystal Biotech Inc. | 9.64% | 2,888,888 | $1.1B | No change |
| MDGL Madrigal Pharmaceuticals Inc. | 8.84% | 1,833,333 | $984.4M | Add +0.8% |
| ARGX Argenx SE - ADR | 8.33% | 1,000,000 | $927.8M | No change |
| ARWR Arrowhead Pharmaceuticals Inc. | 8.31% | 11,355,555 | $925.6M | Add +6.1% |
| KYMR Kymera Therapeutics Inc. | 7.70% | 7,474,747 | $857.1M | No change |
| RVMD Revolution Medicines Inc. | 3.86% | 2,297,000 | $430.2M | Reduce -2.0% |
| CYTK Cytokinetics Inc. | 3.82% | 4,999,999 | $425.9M | Add +50.0% |
| CELC Celcuity Inc. | 3.19% | 3,400,000 | $355.7M | Add +0.7% |
| GPCR Structure Therapeutics Inc. | 3.16% | 6,555,555 | $351.8M | No change |
| XENE Xenon Pharmaceuticals Inc. | 3.13% | 5,777,777 | $348.7M | No change |
| DFTX Definium Therapeutics Inc. | 3.04% | 7,188,888 | $338.2M | Add +43.8% |
| QURE Uniqure NV | 2.78% | 6,727,777 | $309.9M | Add +12.9% |
| VERA Vera Therapeutics Inc. | 2.21% | 5,723,888 | $245.6M | Reduce -2.8% |
| TSHA Taysha Gene Therapies Inc. | 1.46% | 23,888,888 | $162.7M | Add +10.1% |
| OCUL Ocular Therapeutix Inc. | 1.11% | 12,540,000 | $123.1M | Add +1.8% |
| DMRA Damora Therapeutics Inc. | 0.88% | 3,783,000 | $98.4M | No change |
| COAG Hemab Therapeutics Holdings | 0.64% | 1,925,150 | $70.7M | New |
| GHRS GH Research PLC | 0.43% | 1,800,000 | $48.4M | No change |
| VRDN Viridian Therapeutics Inc. | 0.41% | 2,500,000 | $45.9M | Add +66.7% |
| SEPN Septerna Inc. | 0.40% | 1,337,500 | $44.8M | No change |
| AVTX Avalo Therapeutics Inc. | 0.39% | 2,333,333 | $43.1M | Add +65.5% |
| FTH Faeth Therapeutics Inc. | 0.32% | 1,444,039 | $36.1M | New |
| WHWK Whitehawk Therapeutics Inc. | 0.12% | 2,849,402 | $13.1M | No change |
| LXEO Lexeo Therapeutics Inc. | 0.06% | 1,489,189 | $6.9M | Reduce -20.6% |
Portfolio Sells Q1 2026 → Q2 2026
| APLS Apellis Pharmaceuticals Inc. | Sold out | 0.00% | −4.84 |
| CNTA Centessa Pharmaceuticals Ltd. | Sold out | 0.00% | −4.47 |
| TERN Terns Pharmaceuticals Inc. | Sold out | 0.00% | −2.96 |
| SLNO Soleno Therapeutics Inc. | Sold out | 0.00% | −0.76 |
| ALKS Alkermes PLC | Sold out | 0.00% | −0.42 |
| VERA Vera Therapeutics Inc. | Reduce -2.8% | 2.21% | −0.13 |
| MNKD Mannkind Corp. | Sold out | 0.00% | −0.05 |
| LXEO Lexeo Therapeutics Inc. | Reduce -20.6% | 0.06% | −0.04 |
| RVMD Revolution Medicines Inc. | Reduce -2.0% | 3.86% | +1.62 |
Portfolio Buys Q1 2026 → Q2 2026
| DFTX Definium Therapeutics Inc. | Add +43.8% | 3.04% | +2.11 |
| QURE Uniqure NV | Add +12.9% | 2.78% | +1.82 |
| ARWR Arrowhead Pharmaceuticals Inc. | Add +6.1% | 8.31% | +1.70 |
| CYTK Cytokinetics Inc. | Add +50.0% | 3.82% | +1.66 |
| ASND Ascendis Pharma A/S | Add +1.0% | 12.24% | +0.83 |
| COAG Hemab Therapeutics Holdings | New | 0.64% | +0.64 |
| TSHA Taysha Gene Therapies Inc. | Add +10.1% | 1.46% | +0.51 |
| FTH Faeth Therapeutics Inc. | New | 0.32% | +0.32 |
| AVTX Avalo Therapeutics Inc. | Add +65.5% | 0.39% | +0.18 |
| VRDN Viridian Therapeutics Inc. | Add +66.7% | 0.41% | +0.12 |
| OCUL Ocular Therapeutix Inc. | Add +1.8% | 1.11% | +0.08 |
| MDGL Madrigal Pharmaceuticals Inc. | Add +0.8% | 8.84% | −0.54 |
| CELC Celcuity Inc. | Add +0.7% | 3.19% | −0.60 |
| UTHR United Therapeutics Corp. | Add +5.6% | 13.52% | −1.85 |
Options Activity Q1 2026 → Q2 2026
| UTHR United Therapeutics Corp. | call | Sold out | 380,000 | $10.3Mbefore exit |
| CELC Celcuity Inc. | call | Sold out | 200,000 | $3.0Mbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 26 | $11.1B | UTHR, ASND, KRYS, MDGL, ARGX |
| Q1 2026 | 30 | $10.2B | UTHR, ASND, MDGL, KRYS, ARGX |
| Q4 2025Amended | 33 | $10.2B | UTHR, ASND, MDGL, ARGX, KRYS |
| Q3 2025 | 30 | $7.7B | ASND, UTHR, MDGL, ARGX, KRYS |
| Q2 2025 | 30 | $5.7B | ASND, UTHR, ARGX, MDGL, KRYS |
| Q1 2025 | 33 | $6.4B | UTHR, ASND, ARGX, MDGL, KRYS |
| Q4 2024 | 39 | $7.1B | UTHR, ARGX, ASND, MDGL, KRYS |
| Q3 2024 | 35 | $6.9B | UTHR, ASND, ARGX, KRYS, MDGL |
| Q2 2024 | 41 | $7.5B | UTHR, MDGL, ASND, ARGX, SRPT |
| Q1 2024 | 46 | $8.6B | UTHR, APLS, ASND, SRPT, MDGL |