Avoro Capital Advisors Llc
- Regulatory AUM
- $13.6B
- Discretionary
- $13.6B
- Clients
- 3
- Avg AUM / client
- $4.5B
- Accounts
- 3
- Employees
- 19
AUM over time
Annual snapshots from Form ADV filings · as of Mar 05, 2026
Investments (13F portfolio — 30 positions, $10,164,789,055)
13F period Mar 31, 2026| # | Issuer | Class | Value | Shares | % of 13F | % of AUM |
|---|---|---|---|---|---|---|
| 1 | United Therapeutics Corp | Common | $1,569,833,400 | 3,010,000 | 15.4% | 11.6% |
| 2 | Ascendis Pharma | Sponsored ADR | $1,157,945,625 | 5,062,500 | 11.4% | 8.55% |
| 3 | Madrigal Pharmaceuticals Inc | Common | $951,763,208 | 1,818,181 | 9.36% | 7.02% |
| 4 | Krystal Biotech Inc | Common | $746,257,548 | 2,888,888 | 7.34% | 5.51% |
| 5 | Argenx Se | Sponsored ADR | $730,250,000 | 1,000,000 | 7.18% | 5.39% |
| 6 | Arrowhead Pharmaceuticals Inc | Common | $670,889,937 | 10,699,999 | 6.6% | 4.95% |
| 7 | Kymera Therapeutics Inc | Common | $622,571,678 | 7,474,747 | 6.12% | 4.59% |
| 8 | Apellis Pharmaceuticals Inc | Common | $491,699,991 | 12,222,222 | 4.84% | 3.63% |
| 9 | Centessa Pharmaceuticals Plc | SPONSORED ADS | $454,017,673 | 11,430,455 | 4.47% | 3.35% |
| 10 | Celcuity Inc | Common | $388,272,500 | 3,575,000 | 3.82% | 2.87% |
| 11 | Xenon Pharmaceuticals Inc | Common | $335,977,733 | 5,777,777 | 3.31% | 2.48% |
| 12 | Structure Therapeutics Inc | SPONSORED ADS | $315,977,751 | 6,555,555 | 3.11% | 2.33% |
| 13 | Terns Pharmaceuticals Inc | Common | $300,240,400 | 5,695,000 | 2.95% | 2.22% |
| 14 | Vera Therapeutics Inc | Common | $236,909,964 | 5,888,888 | 2.33% | 1.75% |
| 15 | Revolution Medicines Inc | Common | $227,997,179 | 2,344,444 | 2.24% | 1.68% |
| 16 | Cytokinetics Inc | Common | $219,699,978 | 3,333,333 | 2.16% | 1.62% |
| 17 | Ocular Therapeutix Inc | Common | $104,308,050 | 12,315,000 | 1.03% | 0.77% |
| 18 | Damora Therapeutics Inc | Common | $97,979,700 | 3,783,000 | 0.96% | 0.72% |
| 19 | Uniqure Nv | Common | $97,439,378 | 5,959,595 | 0.96% | 0.72% |
| 20 | Taysha Gene Therapies Inc | Common | $96,999,000 | 21,700,000 | 0.95% | 0.72% |
| 21 | Definium Therapeutics Inc | Common | $94,500,000 | 5,000,000 | 0.93% | 0.7% |
| 22 | Soleno Therapeutics Inc | Common | $77,004,000 | 2,300,000 | 0.76% | 0.57% |
| 23 | Alkermes Plc | Common | $42,432,000 | 1,200,000 | 0.42% | 0.31% |
| 24 | Septerna Inc | Common | $32,140,125 | 1,337,500 | 0.32% | 0.24% |
| 25 | Viridian Therapeutics Inc | Common | $29,340,000 | 1,500,000 | 0.29% | 0.22% |
Top 25 of 30 positions from the manager's latest Form 13F · source filing (EDGAR) ↗. 13F covers long US-listed positions only. "% of AUM" is share of the firm's total regulatory AUM (Form ADV Item 5.F).
Who they serve
| Client type | Clients | AUM | % of AUM |
|---|---|---|---|
| Pooled investment vehicles (non-investment companies) | 3 | $13.6B | 100.0% |
Private funds (2)
Reported in Form ADV Section 7.B.(1), filing of Jun 2024 · $8.7B combined gross assets
| Fund | Type | Domicile | Gross assets | Owners |
|---|---|---|---|---|
| Avoro Life Sciences Fund Llc master | Hedge Fund | Delaware | $8.6B | 405 |
| Avoro Ventures Fund L.P. | Venture Capital Fund | Delaware | $166M | 48 |
People (4)
| Name | Role / title | Credentials | With firm since | Ownership |
|---|---|---|---|---|
| Epstein, Scott, Andrew | Chief Operating Officer And Chief Compliance Officer | Jun 2014 (12y) | Less than 5% | |
| Aghazadeh, Behzad | Managing Director | Sep 2017 (9y) | ≈ 37.5% – 75% via Avoro Capital L.P. | |
| Kong, Garheng, Albert | Member | May 2019 (7y) | 50% – 75% of Avoro Capital Gp Llc (indirect) | |
| Cammarosano, Neil | Chief Financial Officer | May 2024 (2y) | Less than 5% |
Entity owners (Schedule A/B)
| Entity | Title / status | Since | Sch. | Ownership |
|---|---|---|---|---|
| Avoro Capital L.P. | Direct Owner | May 2019 | A | 75% or more |
| Avoro Capital Gp Llc | General Partner | May 2019 | B | GP / trustee / elected manager of Avoro Capital L.P. (indirect) |
Undisclosed: 0% – 25% of the firm is not attributable from the filed Schedule A bands.
Estimated effective ownership (look-through of filed bands):
- Aghazadeh, Behzad: 50% – 75% of Avoro Capital L.P. × 75% – 100% direct ≈ 37.5% – 75% of the firm
Roster from the IAPD representatives feed; ownership and acquisition dates from Form ADV Schedule A/B. "Since" is the earliest filed registration or acquisition date.
Private funds (2, $8.7B gross assets)
| Fund | Type | Gross assets | Min. investment | Owners |
|---|---|---|---|---|
| Avoro Life Sciences Fund Llc | Hedge Fund | $8.6B | $1.0M | 405 |
| Avoro Ventures Fund L.P. | Venture Capital Fund | $166M | $5.0M | 48 |
From Form ADV Section 7.B private fund reporting.
Documents (1 archived)
| Form | Period | Size | |
|---|---|---|---|
| Form ADV (full filing) | 03/05/2026 | 1.52 MB | View · PDF · Source ↗ |
Archived copies of the firm's regulatory filings, versioned by content hash.
Disciplinary disclosures
No disciplinary events reported on the firm's latest Form ADV filing.
How they charge
- • Percentage of assets under management
- • Performance-based fees
Services
- • Portfolio management for pooled investment vehicles
Custody
Reported custodians
- Morgan Stanley $55.4M (1% of AUM) Mar 2021
- J.P. Morgan $18.8M (0% of AUM) Mar 2021
Amounts as reported in ADV Item 5.K.(3) (custodians holding 10%+ of SMA assets).
Firm reports having custody of client funds or securities (Item 9.A).
Source
All data on this page comes from this firm's Form ADV filings, reproduced without modification. Latest filing: Mar 05, 2026.
View current Form ADV (SEC/IAPD) ↗