Avoro Capital Advisors LLC 13F: Quarter-over-Quarter Portfolio Changes
Avoro Capital Advisors LLC reported a disclosed portfolio value of approximately $11.1 billion in its latest SEC Form 13F-HR filing for Q2 2026, up 9.7% quarter on quarter. Over the quarter, the fund initiated 3 new positions, bought more shares in 11 holdings, trimmed 3 holdings, and exited 7 positions.
Avoro Capital Advisors LLC's top buy was a new stake in Ascendis Pharma A/S (ASND) , equal to 12.2% of the disclosed portfolio. Its top sell was Ascendis Pharma A/S (SYN_04351P101) . The fund exited the position completely after it had accounted for 11.4% of the previous portfolio.
New PositionsQ2 2026
Securities disclosed for the first time in Q2 2026 that were not present in the prior 13F-HR filing.
| Company | Ticker | Initial Portfolio Weight | History |
|---|---|---|---|
| ASCENDIS PHARMA A/S | ASND | 12.2% | History → |
| HEMAB THERAPEUTICS HLDGS INC | COAG | 0.6% | Holders → |
| FAETH THERAPEUTICS INC | SNSE | 0.3% | Holders → |
Top BuysQ2 2026
Showing the top 10 buys among 11 existing positions where the fund bought more shares in Q2 2026. Ranked by portfolio-weight impact, with the percentage of additional shares shown separately.
| Company | Ticker | Portfolio Weight Change | More Shares | History |
|---|---|---|---|---|
| VIRIDIAN THERAPEUTICS INC | VRDN | +0.1% | +66.7% | Holders → |
| AVALO THERAPEUTICS INC | AVTX | +0.2% | +65.5% | Holders → |
| CYTOKINETICS INC | CYTK | +1.7% | +50.0% | History → |
| DEFINIUM THERAPEUTICS INC | DFTX | +2.1% | +43.8% | Holders → |
| UNIQURE NV | QURE | +1.8% | +12.9% | Holders → |
| TAYSHA GENE THERAPIES INC | TSHA | +0.5% | +10.1% | Holders → |
| ARROWHEAD PHARMACEUTICALS IN | ARWR | +1.7% | +6.1% | History → |
| UNITED THERAPEUTICS CORP DEL | UTHR | +-1.8% | +5.6% | History → |
| OCULAR THERAPEUTIX INC | OCUL | +0.1% | +1.8% | Holders → |
| MADRIGAL PHARMACEUTICALS INC | MDGL | +-0.5% | +0.8% | History → |
Top SellsQ2 2026
The fund's top sells among positions it retained in Q2 2026. Ranked by portfolio-weight impact. Full exits are listed separately.
| Company | Ticker | Portfolio Weight Change | Shares Sold | History |
|---|---|---|---|---|
| LEXEO THERAPEUTICS INC | LXEO | -0.0% | 20.6% | Holders → |
| VERA THERAPEUTICS INC | VERA | -0.1% | 2.8% | Holders → |
| REVOLUTION MEDICINES INC | RVMD | 1.6% | 2.0% | History → |
Full ExitsQ2 2026
Positions present in the prior 13F-HR filing that no longer appear in Q2 2026.
| Company | Ticker | Last-Reported Portfolio Weight |
|---|---|---|
| ASCENDIS PHARMA A/S | SYN_04351P101 | 11.4% |
| APELLIS PHARMACEUTICALS INC | APLS | 4.8% |
| CENTESSA PHARMACEUTICALS PLC | CNTA | 4.5% |
| TERNS PHARMACEUTICALS INC | TERN | 3.0% |
| SOLENO THERAPEUTICS INC | SLNO | 0.8% |
| ALKERMES PLC | ALKS | 0.4% |
| MANNKIND CORP | MNKD | 0.1% |
Net Portfolio Value ChangeQ2 2026
- $10.2BPrior quarter
- $11.1BCurrent quarter
- +$1.0BNet delta
- +9.7%% change
Methodology & FAQ
How Avoro Capital Advisors LLC Quarterly Changes Are Computed
All deltas are sourced from sequential SEC Form 13F-HR filings for Avoro Capital Advisors LLC: each row joins the most recent filing against the immediately preceding quarterly filing for the same fund. Share-count changes reflect reported trading activity, while portfolio weights can also move because of market price changes. Portfolio weights are normalized to exclude listed options for comparability. A complete description, including how confidential treatment filings are handled, is documented in the Methodology.
What stocks did Avoro Capital Advisors LLC buy in Q2 2026?
In Q2 2026, Avoro Capital Advisors LLC initiated 3 new positions (ASCENDIS PHARMA A/S (ASND), HEMAB THERAPEUTICS HLDGS INC (COAG), FAETH THERAPEUTICS INC (SNSE)); bought more shares of VIRIDIAN THERAPEUTICS INC (VRDN), AVALO THERAPEUTICS INC (AVTX), CYTOKINETICS INC (CYTK), DEFINIUM THERAPEUTICS INC (DFTX), UNIQURE NV (QURE) (the largest 5 of 11 adds).
What stocks did Avoro Capital Advisors LLC sell in Q2 2026?
In Q2 2026, Avoro Capital Advisors LLC fully sold 7 positions (ASCENDIS PHARMA A/S (SYN_04351P101), APELLIS PHARMACEUTICALS INC (APLS), CENTESSA PHARMACEUTICALS PLC (CNTA), TERNS PHARMACEUTICALS INC (TERN), SOLENO THERAPEUTICS INC (SLNO), ALKERMES PLC (ALKS), MANNKIND CORP (MNKD)); reduced holdings in LEXEO THERAPEUTICS INC (LXEO), VERA THERAPEUTICS INC (VERA), REVOLUTION MEDICINES INC (RVMD).
Which positions did Avoro Capital Advisors LLC initiate in Q2 2026?
Avoro Capital Advisors LLC established 3 new positions in Q2 2026: ASCENDIS PHARMA A/S (ASND, 12.2%), HEMAB THERAPEUTICS HLDGS INC (COAG, 0.6%), FAETH THERAPEUTICS INC (SNSE, 0.3%).
Which existing positions saw the largest allocation increases for Avoro Capital Advisors LLC in Q2 2026?
Of 11 existing positions with share-count increases in Q2 2026, the largest were: VIRIDIAN THERAPEUTICS INC (VRDN, +0.1% weight, +66.7% shares), AVALO THERAPEUTICS INC (AVTX, +0.2% weight, +65.5% shares), CYTOKINETICS INC (CYTK, +1.7% weight, +50.0% shares), DEFINIUM THERAPEUTICS INC (DFTX, +2.1% weight, +43.8% shares), UNIQURE NV (QURE, +1.8% weight, +12.9% shares), TAYSHA GENE THERAPIES INC (TSHA, +0.5% weight, +10.1% shares), ARROWHEAD PHARMACEUTICALS IN (ARWR, +1.7% weight, +6.1% shares), UNITED THERAPEUTICS CORP DEL (UTHR, +-1.8% weight, +5.6% shares), OCULAR THERAPEUTIX INC (OCUL, +0.1% weight, +1.8% shares), MADRIGAL PHARMACEUTICALS INC (MDGL, +-0.5% weight, +0.8% shares).
Which positions did Avoro Capital Advisors LLC fully exit in Q2 2026?
Avoro Capital Advisors LLC fully exited 7 positions in Q2 2026: ASCENDIS PHARMA A/S (SYN_04351P101, last-reported weight 11.4%), APELLIS PHARMACEUTICALS INC (APLS, last-reported weight 4.8%), CENTESSA PHARMACEUTICALS PLC (CNTA, last-reported weight 4.5%), TERNS PHARMACEUTICALS INC (TERN, last-reported weight 3.0%), SOLENO THERAPEUTICS INC (SLNO, last-reported weight 0.8%), ALKERMES PLC (ALKS, last-reported weight 0.4%), MANNKIND CORP (MNKD, last-reported weight 0.1%).
Which existing positions saw the largest allocation reductions for Avoro Capital Advisors LLC in Q2 2026?
Of 3 existing positions with share-count reductions in Q2 2026, the largest were: LEXEO THERAPEUTICS INC (LXEO, -0.0% weight, -20.6% shares), VERA THERAPEUTICS INC (VERA, -0.1% weight, -2.8% shares), REVOLUTION MEDICINES INC (RVMD, 1.6% weight, -2.0% shares).
Do quarter-over-quarter 13F allocation changes constitute explicit trading signals?
No. Quarter-over-quarter changes reflect a combination of active trading and market price movement. A weight increase can result from price appreciation alone, without the manager adding shares. Share-count delta is the cleaner indicator of explicit trading activity. All deltas on this page are sourced from sequential SEC Form 13F-HR filings.