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Vivo Capital Portfolio holdings

AUM $1.1B
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
Cap. Flow
-$186M
Cap. Flow %
-16.99%
Top 10 Hldgs %
52.4%
Holding
53
New
7
Increased
6
Reduced
8
Closed
6

Top Buys

Rank Stock Value
1
TENX icon
Tenax Therapeutics
TENX
+$29.3M
2
AVBP icon
ArriVent BioPharma
AVBP
+$23.5M
3
ABVX
Abivax
ABVX
+$19.8M
4
ACHV icon
Achieve Life Sciences
ACHV
+$13.1M
5
EDIT icon
Editas Medicine
EDIT
+$10.4M

Top Sells

Rank Stock Value
1
ERAS icon
Erasca
ERAS
+$115M
2
TERN
Terns Pharmaceuticals
TERN
+$70.4M
3
PRAX icon
Praxis Precision Medicines
PRAX
+$21.5M
4
TNGX icon
Tango Therapeutics
TNGX
+$19.2M
5
MANE
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
TRVI icon
1
Trevi Therapeutics
TRVI
$2.3B
$95M 8.68%
5,094,668
– –
PRAX icon
2
Praxis Precision Medicines
PRAX
$9.44B
$90.8M 8.29%
271,116
-67,779
-20% -$21.5M
ERAS icon
3
Erasca
ERAS
$5.62B
$75.6M 6.9%
4,127,412
-8,024,068
-66% -$115M
AVBP icon
4
ArriVent BioPharma
AVBP
$1.42B
$58.4M 5.34%
1,682,097
+796,181
+90% +$23.5M
ABVX
5
Abivax
ABVX
$10.2B
$55.3M 5.05%
414,899
+175,360
+73% +$19.8M
TNGX icon
6
Tango Therapeutics
TNGX
$4.12B
$43.1M 3.94%
1,379,769
-775,011
-36% -$19.2M
CRVS icon
7
Corvus Pharmaceuticals
CRVS
$1.08B
$41.9M 3.83%
2,805,816
– –
DRUG
8
Bright Minds Biosciences
DRUG
$630M
$39.1M 3.57%
557,172
– –
SVA
9
DELISTED
Sinovac Biotech, Ltd
SVA
$38.2M 3.49%
5,903,000
– –
TENX icon
10
Tenax Therapeutics
TENX
$71.5M
$36.4M 3.32%
2,500,000
+2,291,667
+1,100% +$29.3M
ACRS icon
11
Aclaris Therapeutics
ACRS
$780M
$35.4M 3.23%
6,694,637
+27,971
+0.4% +$125K
DYN icon
12
Dyne Therapeutics
DYN
$3.35B
$34.6M 3.16%
1,557,466
– –
DNTH icon
13
Dianthus Therapeutics
DNTH
$6B
$34.5M 3.15%
353,998
– –
ANRO icon
14
Alto Neuroscience
ANRO
$1.26B
$31.9M 2.91%
1,208,858
+173,307
+17% +$4.01M
DBVT
15
DBV Technologies
DBVT
$752M
$30.3M 2.76%
1,844,758
-822,811
-31% -$15.5M
SABS icon
16
SAB Biotherapeutics
SABS
$311M
$28.5M 2.6%
7,299,909
-4,120,091
-36% -$15.3M
MLTX icon
17
MoonLake Immunotherapeutics
MLTX
$1.08B
$27.3M 2.49%
1,400,000
+400,000
+40% +$7.25M
LBRX
18
LB Pharmaceuticals
LBRX
$1.45B
$26M 2.37%
800,000
– –
NERV icon
19
Minerva Neurosciences
NERV
$206M
$24M 2.19%
4,322,747
– –
DSGN icon
20
Design Therapeutics
DSGN
$909M
$23.3M 2.13%
1,612,903
– –
ORIC icon
21
Oric Pharmaceuticals
ORIC
$1.26B
$20M 1.83%
1,848,786
– –
CAMP icon
22
CAMP4 Therapeutics
CAMP
$268M
$18.6M 1.69%
4,246,568
– –
FTH
23
Faeth Therapeutics
FTH
$963M
$18.1M 1.65%
722,020
– –
ACHV icon
24
Achieve Life Sciences
ACHV
$726M
$18M 1.64%
+2,751,032
New +$13.1M
CMPX icon
25
Compass Therapeutics
CMPX
$355M
$17M 1.55%
7,757,060
-1,788,406
-19% -$5.28M
1
2 3

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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.