Avoro Capital Advisors Portfolio
13F Holdings & Position Changes — Last filed May 15, 2026
13F Holdings & Position Changes — Last filed May 15, 2026
Biotech specialist fund (formerly Venbio Select Advisor) that takes concentrated positions in clinical and commercial-stage companies. Aghazadeh, a biochemist, is known for activist-style engagement and has served on multiple biotech boards to drive value creation.
Avoro Capital Advisors is a $6B biotech-focused hedge fund managed by Behzad Aghazadeh, PhD. As of their latest 13F filing (Q1 2026), the fund holds 29 positions worth $10.1B. This quarter they initiated 4 new positions and exited 47. Their largest holding is UTHR ($1.6B).
Avoro initiated 4 new positions and increased 9 this quarter. Portfolio grew +2.5% to $10.1B. 440 upcoming catalysts across holdings.
Portfolio Value (13F)
$10.1B
Holdings
29
Top 10 Concentration
76.8%
QoQ Change
+2.5%
Turnover
4.3%
Portfolio Value Trend
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| # | Ticker | Company | Change | Value | % of Portfolio | SI % Float ? | Trend |
|---|---|---|---|---|---|---|---|
| 1 | UTHR | United Therapeutics Corporation | Held↑2Q | $1.6B | 15.41% | 6.0% | |
| 2 | ASND | Ascendis Pharma A/S | Decreased | $1.2B | 11.44% | 3.6% | |
| 3 | MDGL | Madrigal Pharmaceuticals Inc. | Held | $951.8M | 9.40% | 19.3% | |
| 4 | KRYS | Krystal Biotech Inc. | $746.3M | 7.37% | 17.5% | ||
| 5 | ARGX | argenx SE | Increased | $730.3M | 7.21% | 3.3% | |
| 6 | ARWR | Arrowhead Pharmaceuticals Inc. | Increased | $670.9M | 6.63% | 11.6% | |
| 7 | KYMR | Kymera Therapeutics Inc. | $622.6M | 6.15% | 15.6% | ||
| 8 | APLS | Apellis Pharmaceuticals Inc. | $491.7M | 4.86% | 12.6% | ||
| 9 | CNTA | Centessa Pharmaceuticals plc | Decreased | $454.0M | 4.49% | 1.2% | |
| 10 | CELC | Celcuity Inc. | Increased↑2Q | $385.2M | 3.81% | 32.9% |
Share changes reflect active decisions. Value changes include price moves.
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Avoro Capital Advisors held 29 biotech stocks in their 13F portfolio this quarter. Their top positions include UTHR, ASND, MDGL, KRYS, ARGX. The full holdings table is available on BiotechEdge with position sizes, quarter-over-quarter changes, and AI analysis.
Avoro Capital Advisors's tracked biotech portfolio is worth $10.1B across 29 positions, with total assets under management of approximately $6B. Portfolio values are based on 13F filings with the SEC.
Avoro Capital Advisors initiated 4 new positions this quarter, including CYTK, DMRA, DFTX, AVTX. They also increased 9 existing positions.
Avoro Capital Advisors fully exited 47 positions this quarter, including IOBT, BPMC, GLUE, KURA, BCYC and 42 more. They also trimmed 7 existing positions.
Biotech specialist fund (formerly Venbio Select Advisor) that takes concentrated positions in clinical and commercial-stage companies. Aghazadeh, a biochemist, is known for activist-style engagement and has served on multiple biotech boards to drive value creation.
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