Vivo Capital, LLC

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Vivo Capital, LLC reported 47 stock positions worth $1.1 billion. Its top holding was Trevi Therapeutics (TRVI) at 8.7% of the portfolio, followed by Praxis Precision Medicines I (PRAX, 8.3%) and Erasca (ERAS, 6.9%). Compared with Q1 2026, it opened 7 new positions, sold out of 6, added to 6 and reduced 8. The biggest buy was Arrivent Biopharma (AVBP, shares +90%) and the biggest sale Erasca (ERAS, shares −66%).

Most Recent 13F
Q2 2026
Location
Palo Alto, CA
CIK
0001674712
Portfolio Value
$1.1B (Q2 2026)
SEC Filing
0001213900-26-089935 ↗ filed Aug 14, 2026

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $1.3B Q1 2024 Q2 2024: $1.1B Q2 2024 Q3 2024: $1.2B Q3 2024 Q4 2024: $892.6M Q4 2024 Q1 2025: $755.1M Q1 2025 Q2 2025: $977.1M Q2 2025 Q3 2025: $1.2B Q3 2025 Q4 2025: $1.5B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.1B $1.1B Q2 2026

Holdings 47 stocks · $1.1B
TRVI Trevi Therapeutics Inc. 8.68% 5,094,668 $95.0M No change
PRAX Praxis Precision Medicines I 8.29% 271,116 $90.8M Reduce -20.0%
ERAS Erasca Inc. 6.90% 4,127,412 $75.6M Reduce -66.0%
AVBP Arrivent Biopharma Inc. 5.34% 1,682,097 $58.4M Add +89.9%
ABVX Abivax SA-ADR 5.05% 414,899 $55.3M Add +73.2%
TNGX Tango Therapeutics Inc. 3.94% 1,379,769 $43.1M Reduce -36.0%
CRVS Corvus Pharmaceuticals Inc. 3.83% 2,805,816 $41.9M No change
DRUG Bright Minds Biosciences Inc. 3.57% 557,172 $39.1M No change
SVA Sinovac Biotech Ltd. 3.49% 5,903,000 $38.2M No change
TENX Tenax Therapeutics Inc. 3.32% 2,500,000 $36.4M Add +1100.0%
ACRS Aclaris Therapeutics Inc. 3.23% 6,694,637 $35.4M Add +0.4%
DYN Dyne Therapeutics Inc. 3.16% 1,557,466 $34.6M No change
DNTH Dianthus Therapeutics Inc. 3.15% 353,998 $34.5M No change
ANRO Alto Neuroscience Inc. 2.91% 1,208,858 $31.9M Add +16.7%
DBVT DBV Technologies SA-Spon ADR 2.76% 1,844,758 $30.3M Reduce -30.8%
SABS Sab Biotherapeutics Inc. 2.60% 7,299,909 $28.5M Reduce -36.1%
MLTX Moonlake Immunotherapeutics 2.49% 1,400,000 $27.3M Add +40.0%
LBRX LB Pharmaceuticals Inc. 2.37% 800,000 $26.0M No change
NERV Minerva Neurosciences Inc. 2.19% 4,322,747 $24.0M No change
DSGN Design Therapeutics Inc. 2.13% 1,612,903 $23.3M No change
ORIC Oric Pharmaceuticals Inc. 1.83% 1,848,786 $20.0M No change
CAMP CAMP4 Therapeutics Corp. 1.69% 4,246,568 $18.6M No change
FTH Faeth Therapeutics Inc. 1.65% 722,020 $18.1M No change
ACHV Achieve Life Sciences Inc. 1.64% 2,751,032 $18.0M New
CMPX Compass Therapeutics Inc. 1.55% 7,757,060 $17.0M Reduce -18.7%
ANTX AN2 Therapeutics Inc. 1.39% 3,153,640 $15.3M No change
EDIT Editas Medicine Inc. 1.05% 3,555,250 $11.5M New
GERN Geron Corp. 1.01% 8,671,797 $11.1M No change
ODTX Odyssey Therapeutics Inc. 0.98% 575,000 $10.8M New
EPRX Eupraxia Pharmaceuticals Inc. 0.81% 1,350,000 $8.9M No change
OKUR Onkure Therapeutics Inc. Class A 0.80% 1,927,710 $8.8M No change
OLMA Olema Pharmaceuticals Inc. 0.77% 671,843 $8.4M No change
MNPR Monopar Therapeutics Inc. 0.77% 90,500 $8.4M No change
AURA Aura Biosciences Inc. 0.76% 1,166,667 $8.3M New
SRZN Surrozen Inc. 0.62% 260,000 $6.7M No change
ALXO Alx Oncology Holdings Inc. 0.60% 3,184,713 $6.6M No change
MSLE Satellos Bioscience Inc. 0.58% 813,666 $6.3M No change
AVTX Avalo Therapeutics Inc. 0.46% 275,000 $5.1M New
PEPG Pepgen Inc. 0.38% 2,325,000 $4.2M No change
VALN Valneva SE - ADR 0.36% 763,199 $4.0M New
SERA Sera Prognostics Inc. Class A 0.27% 1,650,440 $3.0M No change
UNCY Unicycive Therapeutics Inc. 0.24% 550,000 $2.6M Reduce -69.3%
TIL Instil Bio Inc. 0.21% 292,743 $2.3M No change
INM Inmed Pharmaceuticals Inc. 0.11% 798,377 $1.2M New
BOLT Bolt Biotherapeutics Inc. 0.03% 72,414 $279K No change
KTTA Pasithea Therapeutics Corp. 0.02% 465,471 $240K Reduce -77.8%
DTIL Precision Biosciences Inc. 0.00% 4,675 $37K No change

Portfolio Sells Q1 2026 → Q2 2026
ERAS Erasca Inc. Reduce -66.0% 6.90% −9.44
TERN Terns Pharmaceuticals Inc. Sold out 0.00% −5.85
CMPX Compass Therapeutics Inc. Reduce -18.7% 1.55% −2.65
DBVT DBV Technologies SA-Spon ADR Reduce -30.8% 2.76% −1.87
MANE Veradermics Inc. Sold out 0.00% −1.57
COGT Cogent Biosciences Inc. Sold out 0.00% −1.35
SABS Sab Biotherapeutics Inc. Reduce -36.1% 2.60% −1.04
SLNO Soleno Therapeutics Inc. Sold out 0.00% −0.82
PRAX Praxis Precision Medicines I Reduce -20.0% 8.29% −0.79
UNCY Unicycive Therapeutics Inc. Reduce -69.3% 0.24% −0.74
VRDN Viridian Therapeutics Inc. Sold out 0.00% −0.27
KTTA Pasithea Therapeutics Corp. Reduce -77.8% 0.02% −0.11
CMPS Compass Pathways PLC Sold out 0.00% −0.09
TNGX Tango Therapeutics Inc. Reduce -36.0% 3.94% +0.19

Portfolio Buys Q1 2026 → Q2 2026
AVBP Arrivent Biopharma Inc. Add +89.9% 5.34% +3.64
TENX Tenax Therapeutics Inc. Add +1100.0% 3.32% +3.04
ABVX Abivax SA-ADR Add +73.2% 5.05% +2.83
ACHV Achieve Life Sciences Inc. New 1.64% +1.64
ACRS Aclaris Therapeutics Inc. Add +0.4% 3.23% +1.16
EDIT Editas Medicine Inc. New 1.05% +1.05
ODTX Odyssey Therapeutics Inc. New 0.98% +0.98
ANRO Alto Neuroscience Inc. Add +16.7% 2.91% +0.98
MLTX Moonlake Immunotherapeutics Add +40.0% 2.49% +0.94
AURA Aura Biosciences Inc. New 0.76% +0.76
AVTX Avalo Therapeutics Inc. New 0.46% +0.46
VALN Valneva SE - ADR New 0.36% +0.36
INM Inmed Pharmaceuticals Inc. New 0.11% +0.11

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 47$1.1BTRVI, PRAX, ERAS, AVBP, ABVX
Q1 2026Amended 46$1.2BERAS, PRAX, TERN, TRVI, DBVT
Q4 2025 47$1.5BTERN, CDTX, PRAX, COGT, TRVI
Q3 2025 47$1.2BSLNO, VRNA, CDTX, TERN, TRVI
Q2 2025 42$977.1MSLNO, VRNA, CDTX, GERN, SVA
Q1 2025 40$755.1MSLNO, VRNA, GERN, TRVI, AVDL
Q4 2024 40$892.6MSLNO, VRNA, GERN, TERN, AVDL
Q3 2024 43$1.2BSLNO, GERN, HRMY, VRNA, SVA
Q2 2024 42$1.1BSLNO, GERN, HRMY, SVA, DYN
Q1 2024 42$1.3BSLNO, GERN, HRMY, SVA, AVDL