Q4 2025 · 13F-HR
Avoro Capital Advisors LLCholdings as filed
Filed 2026-02-17 · accession 0001104659-26-015748
$10.17B
Reported value
34
Positions
2025-12-31
Period end
The Brief · Avoro Capital Advisors LLC · Q4 2025
AI · grounded in 13F
Avoro Capital Advisors LLC exited its position in MERUS N V, a move totaling $333.5M. The fund established new positions in CELC for $310.3M and XBI for $256.1M. Additionally, the fund closed positions in AKRO and TRML, while increasing its share count in GPCR by 21.3%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 91307C102 | UTHR | UNITED THERAPEUTICS CORP | $1.27B | 12.5% | 2,606,060 | Common | SOLE |
| 04351P101 | ASNDUSD | ASCENDIS PHARMA | $1.09B | 10.7% | 5,111,111 | Common | SOLE |
| 558868105 | MDGL | MADRIGAL PHARMACEUTICALS INC | $1.05B | 10.3% | 1,807,500 | Common | SOLE |
| 04016X101 | ARGX | ARGENX SE | $832.5M | 8.18% | 990,000 | Common | SOLE |
| 501147102 | KRYS | KRYSTAL BIOTECH INC | $712.2M | 7.00% | 2,888,888 | Common | SOLE |
| 04280A100 | ARWR | ARROWHEAD PHARMACEUTICALS INC | $705.4M | 6.93% | 10,625,000 | Common | SOLE |
| 501575104 | KYMR | KYMERA THERAPEUTICS INC | $581.6M | 5.72% | 7,474,747 | Common | SOLE |
| 86366E106 | GPCR | STRUCTURE THERAPEUTICS INC | $455.9M | 4.48% | 6,555,555 | Common | SOLE |
| 05370A108 | RNAGBP | AVIDITY BIOSCIENCES INC | $393.5M | 3.87% | 5,455,000 | Common | SOLE |
| 152309100 | CNTA | CENTESSA PHARMACEUTICALS PLC | $364.0M | 3.58% | 14,555,555 | Common | SOLE |
| 15102K100 | CELC | CELCUITY INC | $310.3M | 3.05% | 3,111,111 | Common | SOLE |
| 03753U106 | APLSUSD | APELLIS PHARMACEUTICALS INC | $307.0M | 3.02% | 12,222,222 | Common | SOLE |
| 92337R101 | VERA | VERA THERAPEUTICS INC | $298.2M | 2.93% | 5,888,888 | Common | SOLE |
| 78464A870 | XBI | SPDR SERIES TRUST - S&P BIOTECH | $256.1M | 2.52% | 2,100,000 | Common | SOLE |
| 98420N105 | XENE | XENON PHARMACEUTICALS INC | $243.1M | 2.39% | 5,424,444 | Common | SOLE |
| 880881907 | — | TERNS PHARMACEUTICALS INC | $175.7M | 1.73% | 4,350,000 | Common | SOLE |
| 76155X100 | RVMD | REVOLUTION MEDICINES INC | $172.8M | 1.70% | 2,170,000 | Common | SOLE |
| N90064101 | QURE | UNIQURE NV | $147.2M | 1.45% | 6,150,000 | Common | SOLE |
| 834203309 | SLNO | SOLENO THERAPEUTICS INC | $134.3M | 1.32% | 2,900,000 | Common | SOLE |
| 67576A100 | OCUL | OCULAR THERAPEUTIX INC | $130.8M | 1.29% | 10,777,777 | Common | SOLE |
| 877619106 | TSHA | TAYSHA GENE THERAPIES INC | $119.3M | 1.17% | 21,700,000 | Common | SOLE |
| 60255C885 | BRD1EUR | MIND MEDICINE (MINDMED) INC | $67.0M | 0.66% | 5,000,000 | Common | SOLE |
| 69366JAD3 | PTCT 1.5 09/15/26 | PTC THERAPEUTICS INC | $52.0M | 0.51% | 685,000 | Common | SOLE |
| 92790C104 | VRDN | VIRIDIAN THERAPEUTICS INC | $46.7M | 0.46% | 1,500,000 | Common | SOLE |
| 687604108 | ORKA | ORUKA THERAPEUTICS INC | $40.4M | 0.40% | 1,333,340 | Common | SOLE |
| G01767105 | ALKS | ALKERMES PLC | $39.2M | 0.39% | 1,400,000 | Common | SOLE |
| 03770N101 | APGE | APOGEE THERAPEUTICS INC | $37.7M | 0.37% | 500,000 | Common | SOLE |
| 81734D104 | SEPN | SEPTERNA INC | $37.3M | 0.37% | 1,337,500 | Common | SOLE |
| 52886X107 | LXEO | LEXEO THERAPEUTICS INC | $32.8M | 0.32% | 3,300,000 | Common | SOLE |
| 56400P706 | MNKD | MANNKIND CORP | $25.2M | 0.25% | 4,444,444 | Common | SOLE |
| G3855L106 | GHRS | GH RESEARCH PLC | $22.9M | 0.22% | 1,800,000 | Common | SOLE |
| 45337C102 | INCY | INCYTE CORP | $13.3M | 0.13% | 135,000 | Common | SOLE |
| 00032Q104 | WHWK | WHITEHAWK THERAPEUTICS INC | $6.9M | 0.07% | 2,849,402 | Common | SOLE |
| 04351P101 | ASNDUSD | ASCENDIS PHARMA | $625,000 | 0.01% | 50,000 | CALL | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.