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Vivo Capital Portfolio holdings

AUM $1.2B
1-Year Est. Return 911.44%
This Fund
S&P 500
This Quarter Est. Return
+145.85%
1 Year Est. Return
+911.44%
3 Year Est. Return
+7,373.93%
5 Year Est. Return
+10,475.15%
10 Year Est. Return
+136,503.27%
AUM
$1.55B
AUM Growth
+$304M
Cap. Flow
-$352M
Cap. Flow %
-22.76%
Top 10 Hldgs %
60.06%
Holding
54
New
7
Increased
4
Reduced
9
Closed
7

Top Buys

Rank Stock Value
1
PRAX icon
Praxis Precision Medicines
PRAX
+$24.2M
2
DBVT
DBV Technologies
DBVT
+$22M
3
NERV icon
Minerva Neurosciences
NERV
+$16.1M
4
ANRO icon
Alto Neuroscience
ANRO
+$13M
5
DSGN icon
Design Therapeutics
DSGN
+$12.6M

Top Sells

Rank Stock Value
1
VRNA
Verona Pharma
VRNA
+$149M
2
SLNO
Soleno Therapeutics
SLNO
+$75.8M
3
CDTX
Cidara Therapeutics
CDTX
+$57.3M
4
TERN
Terns Pharmaceuticals
TERN
+$35.8M
5
TRML
Tourmaline Bio
TRML
+$28.3M

Sector Composition

Rank Sector Weight
1 Healthcare 99.95%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CRVS icon
26
Corvus Pharmaceuticals
CRVS
$1.12B
$17.2M 1.11%
2,234,566
– –
OLMA icon
27
Olema Pharmaceuticals
OLMA
$985M
$16.8M 1.09%
671,843
-834,019
-55% -$14.8M
PEPG icon
28
PepGen
PEPG
$130M
$15.1M 0.98%
2,325,000
– –
DSGN icon
29
Design Therapeutics
DSGN
$799M
$15.1M 0.98%
+1,612,903
New +$12.6M
DNTH icon
30
Dianthus Therapeutics
DNTH
$5.8B
$14.6M 0.94%
353,998
– –
MLTX icon
31
MoonLake Immunotherapeutics
MLTX
$1.48B
$13.2M 0.85%
+1,000,000
New +$11.8M
CTMX icon
32
CytomX Therapeutics
CTMX
$690M
$12.3M 0.79%
2,884,615
– –
UNCY icon
33
Unicycive Therapeutics
UNCY
$142M
$10.3M 0.67%
1,789,916
– –
EPRX
34
Eupraxia Pharmaceuticals
EPRX
$425M
$10.2M 0.66%
1,350,000
– –
ABEO icon
35
Abeona Therapeutics
ABEO
$364M
$9.71M 0.63%
1,842,751
– –
VSTM icon
36
Verastem
VSTM
$500M
$8.54M 0.55%
1,106,524
-1,538,461
-58% -$13.7M
SLN
37
Silence Therapeutics
SLN
$504M
$6.72M 0.43%
1,105,454
– –
MNPR icon
38
Monopar Therapeutics
MNPR
$794M
$5.91M 0.38%
90,500
– –
SRZN icon
39
Surrozen
SRZN
$253M
$5.88M 0.38%
260,000
– –
PALI icon
40
Palisade Bio
PALI
$337M
$5.39M 0.35%
+2,293,578
New +$4.41M
SERA icon
41
Sera Prognostics
SERA
$82.2M
$4.87M 0.31%
1,650,440
– –
TIL icon
42
Instil Bio
TIL
$49M
$3.22M 0.21%
292,743
– –
KTTA icon
43
Pasithea Therapeutics
KTTA
$14.9M
$2.71M 0.18%
+2,100,000
New +$1.85M
TENX icon
44
Tenax Therapeutics
TENX
$536M
$2.54M 0.16%
208,333
– –
ENGNW icon
45
enGene Therapeutics Warrants
ENGNW
$3.27M
$844K 0.05%
+285,046
New +$651K
BOLT icon
46
Bolt Biotherapeutics
BOLT
$7.65M
$396K 0.03%
72,414
-103,650
-59% -$556K
DTIL icon
47
Precision BioSciences
DTIL
$182M
$19.4K ﹤0.01%
4,675
– –
AKRO
48
DELISTED
Akero Therapeutics
AKRO
– –
-434,689
Closed -$20.6M
ATXS
49
DELISTED
Astria Therapeutics
ATXS
– –
-1,552,685
Closed -$11.3M
DCTH icon
50
Delcath Systems
DCTH
$450M
– –
-569,526
Closed -$6.12M
1
2
3

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Vivo Capital's Q4 2025 Portfolio in Review

As of Q4 2025, Vivo Capital held 54 positions worth $1.55B, up 24% from $1.24B the previous quarter. Its ten largest holdings account for 60% of the portfolio.

Vivo Capital withdrew a net $352M in Q4 2025, closing 7 positions and reducing 9 holdings. Its most notable exit was Verona Pharma, an estimated $149M position sold in full.

By sector, the portfolio is most concentrated in Healthcare at 100% of assets, down from 100% a quarter earlier.

Against the trend, Vivo Capital opened a new position in Minerva Neurosciences worth $17.4M.

  • Vivo Capital's largest Q4 2025 buy was Minerva Neurosciences: 4,322,747 shares worth $17.4M.
  • Vivo Capital added most to Praxis Precision Medicines in Q4 2025, an estimated $24.2M increase.
  • Vivo Capital's biggest Q4 2025 reduction was Soleno Therapeutics, cutting an estimated $75.8M.
  • Vivo Capital fully exited Verona Pharma in Q4 2025, selling an estimated $149M.
  • Vivo Capital's ten largest holdings make up 60% of its $1.55B portfolio in Q4 2025.
  • Vivo Capital opened 7 new positions and closed 7 in Q4 2025.
  • Vivo Capital's portfolio value rose 24% quarter-over-quarter to $1.55B.

Based on Vivo Capital's 13F filing for Q4 2025, filed 13 Feb 2026.