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Avoro Capital Advisors LLC
Avoro Capital Advisors LLC is a New York-based hedge fund focused on healthcare and life sciences investments. The firm, formerly known as venBio Select Advisor LLC, was founded in 2015 and primarily serves institutional investors, including endowments, foundations, and family offices. With approximately 19 employees, Avoro manages around $9.89 billion in assets as of March 2025. The firm is led by Dr. Behzad Aghazadeh and is recognized for its deep sector expertise and active investment approach.
Investment Strategy
Avoro Capital Advisors LLC employs a fundamental, research-driven investment strategy focused on the healthcare and life sciences sectors. The firm is known for taking concentrated positions, often in biotechnology and pharmaceutical companies, and for pursuing both public and private investment opportunities. Avoro utilizes deep scientific, industry, and financial expertise to identify innovative companies and catalyze value creation, frequently engaging actively with portfolio companies as a strategic shareholder. The fund’s approach is long-biased and opportunistic, with a strong emphasis on identifying breakthrough technologies and management teams capable of driving transformative change in their industries.
Latest 13F Filing Activity
Avoro Capital Advisors LLC filed their most recent 13F report on Jun 30, 2025 disclosing 30 equity positions with a total 13F market value of $6B. The fund increased holdings in Akero Therapeutics Inc., Kymera Therapeutics Inc., Moonlake Immunotherapeutics among other positions. Avoro Capital Advisors LLC reduced exposure to Blueprint Medicines Corp., Sarepta Therapeutics Inc., United Therapeutics Corp. among others.
Top Holdings
Equity Positions (30)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
A ASND | ASCENDIS PHARMA | 15.05% | $859.5M | 4,980,000 | $127.76 | $172.60 | +$46.3M |
U UTHR | UNITED THERAPEUTICS CORP | 11.93% | $681.0M | 2,370,000 | $154.49 | $287.35 | -$143.6M |
A ARGX | ARGENX SE | 11.34% | $647.7M | 1,175,000 | $188.63 | $551.22 | -$83.4M |
M MDGL | MADRIGAL PHARMACEUTICALS INC | 9.94% | $567.5M | 1,875,000 | $171.91 | $302.64 | -$102.4M |
K KRYS | KRYSTAL BIOTECH INC | 6.40% | $365.6M | 2,660,000 | $96.37 | $137.46 | -$126.8M |
Industry Allocation
Investment Team (7)
| Name | Role | Location | |
|---|---|---|---|
 | Managing Partner | New York, NY , United States | |
 | Partner | New York, NY , United States | |
 | Trader | New York, NY , United States | |
 | Associate | New York, NY , United States | |
 | Senior Analyst | New York, NY , United States | |
 | Analyst | New York, NY , United States | |
S Stela Sota | Associate | New York, NY , United States |
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