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Adviser Profile

As of Date 03/28/2024
Adviser Type - Large advisory firm
Number of Employees 23 4.55%
of those in investment advisory functions 16 6.67%
Registration SEC, Approved, 05/27/2020
Other registrations (1)
Former registrations

AVIDITY PARTNERS MANAGEMENT LP

AUM* 5,268,891,937 -42.52%
of that, discretionary 5,268,891,937 -42.52%
Private Fund GAV* 5,268,891,937 -42.52%
Avg Account Size 526,889,194 -42.52%
SMA’s No
Private Funds 4
Contact Info 214 xxxxxxx
Websites

Client Types

- Pooled investment vehicles

Advisory Activities

- Portfolio management for pooled investment vehicles

Compensation Arrangments

- A percentage of assets under your management
- Performance-based fees

Recent News

Reported AUM

Discretionary
Non-discretionary
10B 8B 7B 5B 4B 3B 1B
2020 2021 2022 2023

Private Funds



Employees

Private Funds Structure

Fund Type Count GAV
Fund TypeHedge Fund Count4 GAV$5,268,891,937

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Top Holdings

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Stck Ticker252828108 Stock NameDIANTHUS THERAPEUTICS INC $ Position$79,873,785 % Position4.00% $ Change6.00% # Change0.00%
Stck Ticker46120E602 Stock NameINTUITIVE SURGICAL INC $ Position$72,806,214 % Position4.00% $ Change-33.00% # Change-40.00%
Stck Ticker632307104 Stock NameNATERA INC $ Position$70,634,980 % Position4.00% $ Change-15.00% # Change-27.00%
Stck Ticker64125C109 Stock NameNEUROCRINE BIOSCIENCES INC $ Position$53,001,200 % Position3.00% $ Change-22.00% # Change-6.00%
Stck Ticker156944100 Stock NameCG ONCOLOGY INC $ Position$62,480,880 % Position3.00% $ Change53.00% # Change28.00%
Stck Ticker00404A109 Stock NameACADIA HEALTHCARE COMPANY IN $ Position$62,458,850 % Position3.00% $ Change-17.00% # Change-12.00%
Stck Ticker91324P102 Stock NameUNITEDHEALTH GROUP INC $ Position$51,101,032 % Position3.00% $ Change # Change
Stck Ticker98420N105 Stock NameXENON PHARMACEUTICALS INC $ Position$32,204,660 % Position2.00% $ Change10.00% # Change8.00%
Stck Ticker90400D108 Stock NameULTRAGENYX PHARMACEUTICAL IN $ Position$41,773,600 % Position2.00% $ Change6.00% # Change-22.00%

Brochure Summary

Overview

FIRM DESCRIPTION Avidity Partners Management LP (“Avidity” or “Adviser” or “We”), a Delaware limited partnership and private investment advisory firm, was formed in April 2019 and commenced operations as an investment adviser in October 2019. Avidity’s principal place of business is Dallas, TX. Avidity currently provides investment management and other services solely with respect to affiliated private pooled investment vehicles, Avidity Master Fund LP, a Cayman Islands exempted limited partnership (the “Master Fund”), Avidity Capital Fund LP, a Delaware limited partnership (the “Onshore Fund”), Avidity Capital Offshore Fund Ltd., a Cayman Islands exempted company (the “Offshore Fund”)(collectively the “Avidity Master Fund”); Avidity Capital Fund II LP, a Delaware limited partnership (“Fund II”), Avidity Master Fund III LP, a Cayman Islands exempted limited partnership (“Master Fund III”), Avidity Capital Fund III LP, a Delaware limited partnership (“Onshore Fund III”), Avidity Capital Offshore Fund III LP, a Cayman Islands exempted limited partnership (“Offshore Fund III”)(collectively “Fund III”); Avidity Private Master Fund I LP, a Cayman Islands exempted limited partnership (“Private Master Fund”), Avidity Private Fund I LP, a Delaware limited partnership (“Private Onshore Fund”), and Avidity Private Offshore Fund I LP, a Cayman Islands exempted limited partnership (“Private Offshore Fund”)(collectively the “Private Fund”). Together, the Master Fund, Onshore Fund, Offshore Fund, Fund II, Master Fund III, Onshore Fund III, Offshore Fund III, Private Master Fund, Private Onshore Fund and Private Offshore Fund are known as the “Funds”. Interests in the Onshore Fund, Offshore Fund, Private Onshore Fund and Private Offshore Fund are offered to eligible investors on a private placement basis. Fund II and Fund III are fund of one structures and not offered to third-party investors. We have full discretionary authority with respect to the investment decisions of the Funds. Our investment advisory services are provided in accordance with the investment objectives and guidelines set forth in the Funds’ offering and governing documents. The information set forth in this brochure is qualified in its entirety by the Funds’ offering and governing documents. Avidity Capital Partners Fund (GP) LP, a Delaware limited partnership (the “General Partner”) is the general partner of the Master Fund, Onshore Fund, Fund II, Master Fund III, Onshore Fund III, Offshore Fund III, Private Master Fund, Private Onshore Fund and Private Offshore Fund. Funds II and III in the process of winding down. PRINCIPAL OWNERS Avidity Partners Management (GP) LLC is the general partner of Avidity. Avidity and Avidity Partners Management (GP) LLC are ultimately owned and controlled by David R. Witzke and Michael D. Gregory (together, the “Principals”). TYPES OF ADVISORY SERVICES Avidity is investment manager
to the Funds, and the Funds are currently its only advisory clients. Avidity is responsible for investing and re-investing the capital of the Funds in securities, financial instruments and/or other assets in accordance with the investment objectives, policies and guidelines set forth in the respective Funds’ offering and governing documents. See “Item 8: Methods of Analysis, Investment Strategies and Risk of Loss.” INVESTMENT RESTRICTIONS We generally provide investment advice to the Funds in accordance with the investment objectives, policies and guidelines set forth in the respective Funds’ offering and governing documents, and not in accordance with the individual needs or objectives of any particular investor in the Funds. Investors generally are not permitted to impose restrictions on investments in certain securities or types of securities or limitations on the management of the Funds. The Funds have and may enter into side letters or similar arrangements (collectively, "Side Letters"), with certain prospective or existing investors whereby such investors may be subject to terms and conditions that are more advantageous than those in the Funds’ offering and governing documents. For example, such terms and conditions do and may provide for special rights to make future investments in the Funds, other investment vehicles or managed accounts; special withdrawal rights, relating to frequency or notice; a reduction or rebate in management fees or performance-based compensation to be paid by the investor; special rights relating to participation in “Special Investments” (described below); rights to receive reports from the Funds on a more frequent basis or that include information not provided to other investors (including, without limitation, more detailed information regarding portfolio positions) and such other rights or terms as may be negotiated by the Funds and such investors. The modifications are solely at the discretion of the Funds and are, among other things, based on the size of the investor's investment in the Funds or affiliated investment entity, an agreement by an investor to maintain such investment in the Funds for a significant period of time or other similar commitment by an investor to the Funds, and have been granted to founding or strategic investors. Interests in the Funds are privately offered only to eligible investors pursuant to exemptions under the Securities Act of 1933, as amended (the “Securities Act”), and the regulations promulgated thereunder. The Funds are not registered with the SEC as investment companies based on specific exclusions from the definition of investment company under the Investment Company Act of 1940, as amended (the “Company Act”). ASSETS UNDER MANAGEMENT As of December 31, 2023, Avidity had approximately $5,269 million in regulatory assets under management and all were managed on a discretionary basis.