13F portfolio / Investment manager
Avoro Capital Advisors
Behzad Aghazadeh (managing director)
The firm is based in New York, NY, according to its SEC filings.
Its earliest 13F holdings report on SEC EDGAR was filed in February 2015.
SEC Form ADV lists Behzad Aghazadeh as managing director.
The 13F shows long US-listed stock and option positions only. It leaves out short positions, cash, bonds and most non-US holdings.
- Reported 13F value
- $11.1B
- Positions
- 26
- Est. 1-yearEstimate
- —SPY +15.7%
- Est. 3-year, annualizedEstimate
- —SPY +22.8%
As of Jun 30, 2026 · filed Aug 14, 2026
Holdings
3 new · 11 added · 3 trimmed · 9 unchanged · 7 sold out
| 1 | UTHR on Yahoo Finance (opens in a new tab) | United Therapeutics CorpCommon | 13.5% | $1.5B | 2,777,777 | Added +5.6% | $295.30* | $531.44 | +80.0% |
| 2 | ASND on Yahoo Finance (opens in a new tab) | Ascendis PharmaORDINARY SHARES | 12.2% | $1.4B | 5,111,111 | New | $233.60 | $225.73 | -3.4% |
| 3 | KRYS on Yahoo Finance (opens in a new tab) | Krystal Biotech IncCommon | 9.6% | $1.1B | 2,888,888 | Unchanged | $131.38* | $317.67 | +141.8% |
| 4 | MDGL on Yahoo Finance (opens in a new tab) | Madrigal Pharmaceuticals IncCommon | 8.8% | $984M | 1,833,333 | Added +0.8% | $180.89* | $447.74 | +147.5% |
| 5 | ARGX on Yahoo Finance (opens in a new tab) | Argenx SeSponsored ADR | 8.3% | $928M | 1,000,000 | Unchanged | $504.36* | $816.79 | +61.9% |
| 6 | ARWR on Yahoo Finance (opens in a new tab) | Arrowhead Pharmaceuticals IncCommon | 8.3% | $926M | 11,355,555 | Added +6.1% | $31.65* | $56.27 | +77.8% |
| 7 | KYMR on Yahoo Finance (opens in a new tab) | Kymera Therapeutics IncCommon | 7.7% | $857M | 7,474,747 | Unchanged | $33.32* | $105.08 | +215.3% |
| 8 | RVMD on Yahoo Finance (opens in a new tab) | Revolution Medicines IncCommon | 3.9% | $430M | 2,297,000 | Trimmed -2.0% | $68.20 | $177.00 | +159.5% |
| 9 | CYTK on Yahoo Finance (opens in a new tab) | Cytokinetics IncCommon | 3.8% | $426M | 4,999,999 | Added +50.0% | $66.30 | $62.22 | -6.2% |
| 10 | CELC on Yahoo Finance (opens in a new tab) | Celcuity IncCommon | 3.2% | $356M | 3,400,000 | Added +0.7% | $84.53 | $55.10 | -34.8% |
| 11 | GPCR on Yahoo Finance (opens in a new tab) | Structure Therapeutics IncSPONSORED ADS | 3.2% | $352M | 6,555,555 | Unchanged | $24.38 | $21.04 | -13.7% |
| 12 | XENE on Yahoo Finance (opens in a new tab) | Xenon Pharmaceuticals IncCommon | 3.1% | $349M | 5,777,777 | Unchanged | $37.19* | $33.55 | -9.8% |
| 13 | DFTX on Yahoo Finance (opens in a new tab) | Definium Therapeutics IncCommon | 3.0% | $338M | 7,188,888 | Added +43.8% | $19.33 | $32.20 | +66.6% |
| 14 | QURE on Yahoo Finance (opens in a new tab) | Uniqure NVCommon | 2.8% | $310M | 6,727,777 | Added +12.9% | $20.12 | $22.00 | +9.3% |
| 15 | VERA on Yahoo Finance (opens in a new tab) | Vera Therapeutics IncCommon | 2.2% | $246M | 5,723,888 | Trimmed -2.8% | $36.12 | $27.72 | -23.3% |
| 16 | TSHA on Yahoo Finance (opens in a new tab) | Taysha Gene Therapies IncCommon | 1.5% | $163M | 23,888,888 | Added +10.1% | $2.63* | $3.63 | +38.0% |
| 17 | OCUL on Yahoo Finance (opens in a new tab) | Ocular Therapeutix IncCommon | 1.1% | $123M | 12,540,000 | Added +1.8% | $8.69 | $6.93 | -20.2% |
| 18 | DMRA on Yahoo Finance (opens in a new tab) | Damora Therapeutics IncCommon | 0.9% | $98M | 3,783,000 | Unchanged | $25.70 | $18.60 | -27.6% |
| 19 | COAG on Yahoo Finance (opens in a new tab) | Hemab Therapeutics Hldgs IncCommon | 0.6% | $71M | 1,925,150 | New | $27.59 | $30.25 | +9.6% |
| 20 | GHRS on Yahoo Finance (opens in a new tab) | Gh Research PLCORDINARY SHARES | 0.4% | $48M | 1,800,000 | Unchanged | $13.62 | $18.08 | +32.7% |
| 21 | VRDN on Yahoo Finance (opens in a new tab) | Viridian Therapeutics IncCommon | 0.4% | $46M | 2,500,000 | Added +66.7% | $22.90 | $19.25 | -15.9% |
| 22 | SEPN on Yahoo Finance (opens in a new tab) | Septerna IncCommon | 0.4% | $45M | 1,337,500 | Unchanged | $20.93 | $36.09 | +72.4% |
| 23 | AVTX on Yahoo Finance (opens in a new tab) | Avalo TherapeuticsCommon | 0.4% | $43M | 2,333,333 | Added +65.5% | $15.70 | $11.35 | -27.8% |
| 24 | FTH on Yahoo Finance (opens in a new tab) | Faeth Therapeutics IncCOMMON | 0.3% | $36M | 1,444,039 | New | $23.13 | $19.01 | -17.8% |
| 25 | WHWK on Yahoo Finance (opens in a new tab) | Whitehawk Therapeutics IncCommon | 0.1% | $13M | 2,849,402 | Unchanged | $5.38* | $2.96 | -45.0% |
| 26 | LXEO on Yahoo Finance (opens in a new tab) | Lexeo Therapeutics IncCommon | 0.1% | $7M | 1,489,189 | Trimmed -20.6% | $9.12 | $2.76 | -69.8% |
Sold out since Q1 2026
- —Ascendis Pharma$1.2B at Q1 2026
- —Apellis Pharmaceuticals Inc$492M at Q1 2026
- —Centessa Pharmaceuticals PLC$454M at Q1 2026
- —Terns Pharmaceuticals Inc$300M at Q1 2026
- —Soleno Therapeutics Inc$77M at Q1 2026
- ALKS on Yahoo Finance (opens in a new tab)Alkermes PLC$42M at Q1 2026
- MNKD on Yahoo Finance (opens in a new tab)Mannkind Corp$5M at Q1 2026
Estimated, from reported holdings
Quarter by quarter
High-conviction buys (new positions at 3% or more of the portfolio) since Q3 2023: 4. Of 2 with six months of history, 0.0% beat the S&P 500 from the filing date.
Source: SEC Form 13F-HR 0001104659-26-096427, compared with the Q1 2026 report. 0 option rows are excluded from weights. Tickers map from CUSIP via OpenFIGI. Estimated returns weight each position’s next-quarter total return (Yahoo Finance adjusted closes) by its quarter-end value and assume no trades. Estimated cost averages daily adjusted closes in each quarter the share count rose, from Q3 2023 onward (* = held at the start of our data). Price is the latest close.
Important information
Form 13F data is delayed. Managers have up to 45 days after each calendar quarter to file, so holdings shown may have changed materially since the report date. 13F reports cover long positions in US-listed equities and certain other securities only; they exclude short positions, most non-US holdings, cash, bonds and private investments, and managers may request confidential treatment for some positions. Options rows are listed in filings but are not counted in the holdings and weights shown here.
Estimated holdings returns, estimated cost and high-conviction results are hypothetical calculations from quarter-end holdings and public prices, assuming no trades between reports. They are not the actual returns or costs of any fund or manager and do not reflect fees, trading, leverage, shorts or cash. Biographies are drawn from cited public sources. This page is for information only and is not individualized investment advice or a recommendation to buy or sell any security. Gulfstream Capital and its clients may hold positions in securities shown.