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Livermore
Livermore
ZHEN

Avoro Capital Advisors LLC

SEC CIK
0001633313
Latest filing
Aug 14, 2026

The latest 13F from Avoro Capital Advisors LLC covers Q2 2026 (filed Aug 14, 2026): 26 long positions worth $11.1B. The top 10 holdings make up 79.5% of the portfolio, and the largest is United Therapeutics Corp (UTHR) at 13.5%. Livermore has 23 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
2
Est. +$106.8M
Added
12
Est. +$490.1M
Reduced
3
Est. −$17.8M
Sold out
6
Est. −$1.37B

Top 5 holdings

Share of this quarter's portfolio value

  1. UTHRUnited Therapeutics Corp
    13.5%$1.51BHistory
  2. ASNDAscendis Pharma A/S
    12.2%$1.36BHistory
  3. KRYSKrystal Biotech, Inc.
    9.6%$1.07BHistory
  4. MDGLMadrigal Pharmaceuticals, Inc.
    8.8%$984.4MHistory
  5. ARGXArgenx SE
    8.3%$927.8MHistory

Share of portfolio

Top 5 holdings and the other 21 positions, by share of portfolio value

  1. UTHR13.5%
  2. ASND12.2%
  3. KRYS9.6%
  4. MDGL8.8%
  5. ARGX8.3%
  6. Other 21 positions47.4%

Biggest buys

New and added positions, by estimated amount bought

  1. CYTKCytokinetics Inc
    +$142.0MAddedHistory
  2. DFTXDefinium Therapeutics, Inc.
    +$103.0MAddedHistory
  3. UTHRUnited Therapeutics Corp
    +$80.1MAddedHistory
  4. COAGHemab Therapeutics Holdings, Inc.
    +$70.7MNewHistory
  5. ARWRArrowhead Pharmaceuticals, Inc.
    +$53.4MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. DFTXDefinium Therapeutics, Inc.
    +2.11 pp0.9% → 3.0%History
  2. QUREuniQure N.V.
    +1.82 pp1.0% → 2.8%History
  3. ARWRArrowhead Pharmaceuticals, Inc.
    +1.70 pp6.6% → 8.3%History
  4. CYTKCytokinetics Inc
    +1.66 pp2.2% → 3.8%History
  5. ASNDAscendis Pharma A/S
    +0.83 pp11.4% → 12.2%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. APLSApellis Pharmaceuticals, Inc.
    −$491.7MSold outHistory
  2. CNTACentessa Pharmaceuticals plc
    −$454.0MSold outHistory
  3. TERNTerns Pharmaceuticals, Inc.
    −$300.2MSold outHistory
  4. SLNOSoleno Therapeutics Inc
    −$77.0MSold outHistory
  5. ALKSAlkermes plc.
    −$42.4MSold outHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. APLSApellis Pharmaceuticals, Inc.
    −4.84 pp4.8% → 0.0%History
  2. CNTACentessa Pharmaceuticals plc
    −4.47 pp4.5% → 0.0%History
  3. TERNTerns Pharmaceuticals, Inc.
    −2.96 pp3.0% → 0.0%History
  4. SLNOSoleno Therapeutics Inc
    −0.76 pp0.8% → 0.0%History
  5. ALKSAlkermes plc.
    −0.42 pp0.4% → 0.0%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$11.1B
+$984.8M (+9.7%) vs. prior quarter
Positions
26
−4 vs. prior quarter
Top 10 concentration
79.5%
Top 10 as share of value
Turnover
5.6%
Q2 2026, one quarter
Average holding period
13.3 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $11.1B (Q2 2026)

Q1 2021: $5.79BQ2 2021: $5.74BQ3 2021: $6.36BQ4 2021: $5.87BQ1 2022: $5.48BQ2 2022: $5.06BQ3 2022: $5.41BQ4 2022: $6.69BQ1 2023: $6.74BQ2 2023: $7.37BQ3 2023: $6.41BQ4 2023: $7.24BQ1 2024: $8.57BQ2 2024: $7.51BQ3 2024: $6.86BQ4 2024: $7.07BQ1 2025: $6.41BQ2 2025: $5.71BQ3 2025: $7.73BQ4 2025: $10.2BQ1 2026: $10.2BQ2 2026: $11.1B
Q1 2021Q2 2026
13F filings of Avoro Capital Advisors LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202626$11.1BUTHRASNDKRYSvs. Q1 2026SEC
Q1 2026May 15, 202630$10.2BUTHRASNDMDGLvs. Q4 2025SEC
Q4 2025Mar 16, 2026Amended33$10.2BUTHRASNDMDGLvs. Q3 2025SEC
Q3 2025Nov 14, 202530$7.73BASNDUTHRMDGLvs. Q2 2025SEC
Q2 2025Aug 14, 202530$5.71BASNDUTHRARGXvs. Q1 2025SEC
Q1 2025May 15, 202533$6.41BUTHRASNDARGXvs. Q4 2024SEC
Q4 2024Feb 14, 202539$7.07BUTHRARGXASNDvs. Q3 2024SEC
Q3 2024Nov 14, 202435$6.86BUTHRASNDARGXvs. Q2 2024SEC
Q2 2024Aug 14, 202441$7.51BUTHRMDGLASNDvs. Q1 2024SEC
Q1 2024May 15, 202446$8.57BUTHRAPLSASNDvs. Q4 2023SEC
Q4 2023Feb 14, 202442$7.24BAPLSUTHRASNDvs. Q3 2023SEC
Q3 2023Nov 14, 202345$6.41BHZNPUTHRARGXvs. Q2 2023SEC
Q2 2023Aug 14, 202343$7.37BAPLSHZNPUTHRvs. Q1 2023SEC
Q1 2023May 15, 202338$6.74BHZNPAPLSUTHRvs. Q4 2022SEC
Q4 2022Feb 14, 202336$6.69BUTHRHZNPAPLSvs. Q3 2022SEC
Q3 2022Nov 14, 202239$5.41BAPLSUTHRARGXvs. Q2 2022SEC
Q2 2022Aug 15, 202240$5.06BUTHRARGXAPLSvs. Q1 2022SEC
Q1 2022May 16, 202243$5.48BHZNPUTHRAPLSvs. Q4 2021SEC
Q4 2021Feb 14, 202240$5.87BHZNPMRTXUTHRvs. Q3 2021SEC
Q3 2021Nov 15, 202143$6.36BHZNPMRTXXLRNvs. Q2 2021SEC
Q2 2021Aug 16, 202144$5.74BHZNPMRTXUTHRvs. Q1 2021SEC
Q1 2021May 17, 202146$5.79BHZNPMRTXUTHR–SEC

13D and 13G filings

Companies where Avoro Capital Advisors LLC reports owning 5% or more on Schedule 13D or 13G, and its latest filings.

Current stakes of 5% or more

14 companies, largest stake first.

Companies where Avoro Capital Advisors LLC owns 5% or more
CompanyLatest formStakeChangeFirst filedLatest filingFiling
WHWKWhitehawk Therapeutics, Inc.13D/A19.99%18.3M shares0.00 ppfrom 19.99%Jun 4, 20216 filingsMay 14, 2026SEC
SCTXScribe Therapeutics, Inc.13D16.37%3.09M sharesNewJul 30, 20261 filingJul 30, 2026SEC
TRMLTourmaline Bio, Inc.13G/A9.95%2.56M shares–Nov 14, 20242 filingsAug 14, 2025SEC
QUREuniQure N.V.13G/A9.87%6.15M shares+3.27 ppfrom 6.60%Aug 14, 20252 filingsFeb 17, 2026SEC
ARWRArrowhead Pharmaceuticals, Inc.13G/A9.64%13.8M shares+1.34 ppfrom 8.30%Nov 14, 20244 filingsAug 14, 2026SEC
GPCRStructure Therapeutics Inc.13G9.38%16.2M shares–Feb 14, 20243 filingsNov 14, 2025SEC
VERAVera Therapeutics, Inc.13G/A8.90%5.61M shares–Nov 14, 20242 filingsFeb 14, 2025SEC
CNTACentessa Pharmaceuticals plc13G/A7.39%11.4M shares−2.58 ppfrom 9.97%Nov 14, 20253 filingsMay 15, 2026SEC
COAGHemab Therapeutics Holdings, Inc.13G7.06%3.30M sharesNewAug 14, 20261 filingAug 14, 2026SEC
CELCCelcuity Inc.13G6.72%3.11M sharesNewFeb 17, 20261 filingFeb 17, 2026SEC
DMRADamora Therapeutics, Inc.13G6.27%3.78M sharesNewMay 15, 20261 filingMay 15, 2026SEC
XENEXenon Pharmaceuticals Inc.13G/A6.26%5.78M shares–Feb 12, 20215 filingsMay 15, 2026SEC
Avidity Biosciences, Inc.Common Stock, par value $0.0001 per share13G/A5.54%8.52M shares–Nov 14, 20242 filingsFeb 17, 2026SEC
DFTXDefinium Therapeutics, Inc.13G5.08%5.00M sharesNewFeb 17, 20261 filingFeb 17, 2026SEC

Latest filings

134 filings on file made by Avoro Capital Advisors LLC or listing it as a reporting person; the latest 20 are shown.

Schedule 13D and 13G filings by Avoro Capital Advisors LLC
CompanyFiled (ET)FormStakeChangeEvent dateFiling
COAGHemab Therapeutics Holdings, Inc.Aug 14, 20269:01 AM ET13G7.06%3.30M sharesNewJun 30, 2026SEC
ARWRArrowhead Pharmaceuticals, Inc.Aug 14, 20269:00 AM ET13G/A9.64%13.8M shares+1.34 ppfrom 8.30%Jun 30, 2026SEC
AVTXAvalo Therapeutics, Inc.Aug 14, 20269:00 AM ET13G/A4.44%2.33M shares−1.31 ppfrom 5.75%Below 5%Jun 30, 2026SEC
SCTXScribe Therapeutics, Inc.Jul 30, 20269:30 PM ET13D16.37%3.09M sharesNewJul 24, 2026SEC
CNTACentessa Pharmaceuticals plcMay 15, 20268:19 AM ET13G/A7.39%11.4M shares−2.58 ppfrom 9.97%Mar 31, 2026SEC
SLNOSoleno Therapeutics IncMay 15, 20268:18 AM ET13G/A4.45%2.30M shares−0.95 ppfrom 5.40%Below 5%Mar 31, 2026SEC
XENEXenon Pharmaceuticals Inc.May 15, 20268:17 AM ET13G/A6.26%5.78M shares–Mar 31, 2026SEC
DMRADamora Therapeutics, Inc.May 15, 20268:16 AM ET13G6.27%3.78M sharesNewMar 31, 2026SEC
AVTXAvalo Therapeutics, Inc.May 15, 20268:15 AM ET13G5.75%1.41M sharesNewMar 31, 2026SEC
WHWKWhitehawk Therapeutics, Inc.May 14, 20268:04 PM ET13D/A19.99%18.3M shares0.00 ppfrom 19.99%May 12, 2026SEC
QUREuniQure N.V.Feb 17, 20269:05 AM ET13G/A9.87%6.15M shares+3.27 ppfrom 6.60%Dec 31, 2025SEC
CNTACentessa Pharmaceuticals plcFeb 17, 20269:04 AM ET13G/A9.97%14.6M shares+1.91 ppfrom 8.06%Dec 31, 2025SEC
Avidity Biosciences, Inc.Common Stock, par value $0.0001 per shareFeb 17, 20269:03 AM ET13G/A5.54%8.52M shares–Dec 31, 2025SEC
CELCCelcuity Inc.Feb 17, 20269:02 AM ET13G6.72%3.11M sharesNewDec 31, 2025SEC
SLNOSoleno Therapeutics IncFeb 17, 20269:01 AM ET13G5.40%2.90M shares+1.30 ppfrom 4.10%Dec 31, 2025SEC
DFTXDefinium Therapeutics, Inc.Feb 17, 20269:00 AM ET13G5.08%5.00M sharesNewDec 31, 2025SEC
GLUEMonte Rosa Therapeutics, Inc.Nov 14, 20259:07 AM ET13G/A0.00%0 shares−6.10 ppfrom 6.10%Below 5%Sep 30, 2025SEC
FOLDAmicus Therapeutics, Inc.Nov 14, 20259:06 AM ET13G/A4.87%15.0M shares−1.83 ppfrom 6.70%Below 5%Sep 30, 2025SEC
CNTACentessa Pharmaceuticals plcNov 14, 20259:05 AM ET13G8.06%10.8M sharesNewSep 30, 2025SEC
MLTXMoonLake ImmunotherapeuticsNov 14, 20259:03 AM ET13G/A3.15%2.00M shares−3.35 ppfrom 6.50%Below 5%Sep 30, 2025SEC