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Vivo Capital Portfolio holdings
AUM
$1.1B
Turnover
24.53%
1-Year Est. Return
799.93%
This Fund
S&P 500
This Quarter Est. Return
+17.48%
1 Year Est. Return
+799.93%
3 Year Est. Return
+7,491.17%
5 Year Est. Return
+13,644.18%
10 Year Est. Return
+154,603.62%
AUM
$1.1B
AUM Growth
-$108M
(-9%)
Cap. Flow
-$186M
Cap. Flow % of AUM
Cap. Flow %
-16.99%
Top 10 Holdings %
Top 10 Hldgs %
52.4%
Holding
53
New
7
Increased
6
Reduced
8
Closed
6
Avg Time Held
1.5
years
Top 10 Avg Time Held
0.3
years
Top 20 Avg Time Held
0.5
years
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tenax Therapeutics
TENX
|
+$29.3M |
| 2 |
ArriVent BioPharma
AVBP
|
+$23.5M |
| 3 |
Abivax
ABVX
|
+$19.8M |
| 4 |
Achieve Life Sciences
ACHV
|
+$13.1M |
| 5 |
Editas Medicine
EDIT
|
+$10.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Erasca
ERAS
|
+$115M |
| 2 |
Terns Pharmaceuticals
TERN
|
+$70.4M |
| 3 |
Praxis Precision Medicines
PRAX
|
+$21.5M |
| 4 |
Tango Therapeutics
TNGX
|
+$19.2M |
| 5 |
Veradermics Inc
MANE
|
+$18.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Healthcare | 100% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
1
Trevi Therapeutics
TRVI
$1.9B
| $95M | 8.68% |
5,094,668
| – | – |
2024 Q3
7 quarters
|
|
|
2
Praxis Precision Medicines
PRAX
$7.47B
| $90.8M | 8.29% |
271,116
-67,779
| -20% | -$21.5M |
2025 Q2
4 quarters
|
|
|
3
Erasca
ERAS
$5.32B
| $75.6M | 6.9% |
4,127,412
-8,024,068
| -66% | -$115M |
2024 Q2
8 quarters
|
|
|
4
ArriVent BioPharma
AVBP
$759M
| $58.4M | 5.34% |
1,682,097
+796,181
| +90% | +$23.5M |
2026 Q1
1 quarter
|
|
|
5
Abivax
ABVX
$7.62B
| $55.3M | 5.05% |
414,899
+175,360
| +73% | +$19.8M |
2025 Q3
3 quarters
|
|
|
6
Tango Therapeutics
TNGX
$3.86B
| $43.1M | 3.94% |
1,379,769
-775,011
| -36% | -$19.2M |
2025 Q2
4 quarters
|
|
7
Corvus Pharmaceuticals
CRVS
$887M
| $41.9M | 3.83% |
2,805,816
| – | – |
2024 Q3
7 quarters
|
|
8
Bright Minds Biosciences
DRUG
$533M
| $39.1M | 3.57% |
557,172
| – | – |
2024 Q4
6 quarters
|
|
|
SVA
9
DELISTED
Sinovac Biotech, Ltd
SVA
| $38.2M | 3.49% |
5,903,000
| – | – |
2025 Q2
4 quarters
|
|
|
10
Tenax Therapeutics
TENX
$64.4M
| $36.4M | 3.32% |
2,500,000
+2,291,667
| +1,100% | +$29.3M |
2024 Q3
7 quarters
|
|
11
Aclaris Therapeutics
ACRS
$558M
| $35.4M | 3.23% |
6,694,637
+27,971
| +0.4% | +$125K |
2024 Q4
6 quarters
|
|
12
Dyne Therapeutics
DYN
$3.16B
| $34.6M | 3.16% |
1,557,466
| – | – |
2020 Q3
23 quarters
|
|
13
Dianthus Therapeutics
DNTH
$4.45B
| $34.5M | 3.15% |
353,998
| – | – |
2025 Q3
3 quarters
|
|
14
Alto Neuroscience
ANRO
$910M
| $31.9M | 2.91% |
1,208,858
+173,307
| +17% | +$4.01M |
2025 Q4
2 quarters
|
|
15
DBV Technologies S.A. American Depositary Shares
DBVT
$637M
| $30.3M | 2.76% |
1,844,758
-822,811
| -31% | -$15.5M |
2025 Q2
4 quarters
|
|
16
SAB Biotherapeutics
SABS
$279M
| $28.5M | 2.6% |
7,299,909
-4,120,091
| -36% | -$15.3M |
2025 Q3
3 quarters
|
|
17
MoonLake Immunotherapeutics
MLTX
$1.02B
| $27.3M | 2.49% |
1,400,000
+400,000
| +40% | +$7.25M |
2025 Q4
2 quarters
|
|
18
LB Pharmaceuticals
LBRX
$1.28B
| $26M | 2.37% |
800,000
| – | – |
2025 Q3
3 quarters
|
|
19
Minerva Neurosciences
NERV
$106M
| $24M | 2.19% |
4,322,747
| – | – |
2025 Q4
2 quarters
|
|
20
Design Therapeutics
DSGN
$665M
| $23.3M | 2.13% |
1,612,903
| – | – |
2025 Q4
2 quarters
|
|
21
Oric Pharmaceuticals
ORIC
$933M
| $20M | 1.83% |
1,848,786
| – | – |
2023 Q3
11 quarters
|
|
22
CAMP4 Therapeutics
CAMP
$229M
| $18.6M | 1.69% |
4,246,568
| – | – |
2025 Q3
3 quarters
|
|
23
Faeth Therapeutics
FTH
$494M
| $18.1M | 1.65% |
722,020
| – | – |
2026 Q1
1 quarter
|
|
|
24
Achieve Life Sciences
ACHV
$715M
| $18M | 1.64% |
+2,751,032
| New | +$13.1M |
2026 Q2
0 quarters
|
|
25
Compass Therapeutics
CMPX
$135M
| $17M | 1.55% |
7,757,060
-1,788,406
| -19% | -$5.28M |
2021 Q4
18 quarters
|
|
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Vivo Capital's Q2 2026 Portfolio in Review
As of Q2 2026, Vivo Capital held 53 positions worth $1.1B, down 9% from $1.2B the previous quarter. Its ten largest holdings account for 52% of the portfolio.
Vivo Capital withdrew a net $186M in Q2 2026, closing 6 positions and reducing 8 holdings. Its most notable exit was Terns Pharmaceuticals, an estimated $70.4M position sold in full.
By sector, the portfolio is most concentrated in Healthcare at 100% of assets, unchanged from a quarter earlier.
Against the trend, Vivo Capital opened a new position in Achieve Life Sciences worth $18M.
- Vivo Capital's largest Q2 2026 buy was Achieve Life Sciences: 2,751,032 shares worth $18M.
- Vivo Capital added most to Tenax Therapeutics in Q2 2026, an estimated $29.3M increase.
- Vivo Capital's biggest Q2 2026 reduction was Erasca, cutting an estimated $115M.
- Vivo Capital fully exited Terns Pharmaceuticals in Q2 2026, selling an estimated $70.4M.
- Vivo Capital's ten largest holdings make up 52% of its $1.1B portfolio in Q2 2026.
- Vivo Capital opened 7 new positions and closed 6 in Q2 2026.
- Vivo Capital's portfolio value fell 9% quarter-over-quarter to $1.1B.
Based on Vivo Capital's 13F filing for Q2 2026, filed 14 Aug 2026.