Vivo Capital, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 20, 2026), Vivo Capital, LLC reported 46 stock positions worth $1.2 billion. Its top holding was Erasca (ERAS) at 16.3% of the portfolio, followed by Praxis Precision Medicines I (PRAX, 9.1%) and Terns Pharmaceuticals (TERN, 5.8%). Compared with Q4 2025, it opened 8 new positions, sold out of 9, added to 5 and reduced 9. The biggest buy was Erasca (ERAS, shares +31%) and the biggest sale an exit from Cidara Therapeutics (CDTX).
- Most Recent 13F
- Q2 2026
- Location
- Palo Alto, CA
- CIK
- 0001674712
- Portfolio Value
- $1.2B (Q1 2026)
- SEC Filing
- 0001213900-26-059247 ↗ filed May 20, 2026
Holdings Value
Holdings 46 stocks · $1.2B
| ERAS Erasca Inc. | 16.34% | 12,151,480 | $196.6M | Add +31.0% |
| PRAX Praxis Precision Medicines I | 9.08% | 338,895 | $109.2M | Add +3.0% |
| TERN Terns Pharmaceuticals Inc. | 5.85% | 1,334,418 | $70.4M | Reduce -75.0% |
| TRVI Trevi Therapeutics Inc. | 5.05% | 5,094,668 | $60.8M | No change |
| DBVT DBV Technologies SA-Spon ADR | 4.63% | 2,667,569 | $55.7M | Add +8.4% |
| CMPX Compass Therapeutics Inc. | 4.20% | 9,545,466 | $50.5M | No change |
| TNGX Tango Therapeutics Inc. | 3.75% | 2,154,780 | $45.1M | No change |
| SABS Sab Biotherapeutics Inc. | 3.64% | 11,420,000 | $43.7M | No change |
| CRVS Corvus Pharmaceuticals Inc. | 3.41% | 2,805,816 | $41.0M | Add +25.6% |
| DRUG Bright Minds Biosciences Inc. | 3.38% | 557,172 | $40.7M | Add +11.1% |
| SVA Sinovac Biotech Ltd. | 3.17% | 5,903,000 | $38.2M | No change |
| DNTH Dianthus Therapeutics Inc. | 2.47% | 353,998 | $29.7M | No change |
| DYN Dyne Therapeutics Inc. | 2.35% | 1,557,466 | $28.2M | Reduce -40.4% |
| ABVX Abivax SA-ADR | 2.22% | 239,539 | $26.7M | Reduce -33.3% |
| NERV Minerva Neurosciences Inc. | 2.17% | 4,322,747 | $26.0M | No change |
| ACRS Aclaris Therapeutics Inc. | 2.08% | 6,666,666 | $25.0M | Reduce -25.0% |
| ORIC Oric Pharmaceuticals Inc. | 1.95% | 1,848,786 | $23.4M | Reduce -12.7% |
| ANRO Alto Neuroscience Inc. | 1.94% | 1,035,551 | $23.3M | No change |
| FTH Faeth Therapeutics Inc. filed as SENSEI BIOTHERAPEUTICS INC | 1.89% | 722,020 | $22.8M | New |
| AVBP Arrivent Biopharma Inc. | 1.70% | 885,916 | $20.4M | New |
| LBRX LB Pharmaceuticals Inc. | 1.64% | 800,000 | $19.7M | No change |
| MANE Veradermics Inc. | 1.57% | 300,000 | $18.9M | New |
| CAMP CAMP4 Therapeutics Corp. | 1.56% | 4,246,568 | $18.7M | No change |
| MLTX Moonlake Immunotherapeutics | 1.55% | 1,000,000 | $18.6M | No change |
| DSGN Design Therapeutics Inc. | 1.43% | 1,612,903 | $17.2M | No change |
| COGT Cogent Biosciences Inc. | 1.35% | 422,300 | $16.3M | Reduce -82.4% |
| GERN Geron Corp. | 1.07% | 8,671,797 | $12.9M | Reduce -68.2% |
| UNCY Unicycive Therapeutics Inc. | 0.98% | 1,789,916 | $11.8M | No change |
| ANTX AN2 Therapeutics Inc. | 0.90% | 3,153,640 | $10.8M | New |
| OLMA Olema Pharmaceuticals Inc. | 0.83% | 671,843 | $10.0M | No change |
| SLNO Soleno Therapeutics Inc. | 0.82% | 294,909 | $9.9M | Reduce -67.0% |
| EPRX Eupraxia Pharmaceuticals Inc. | 0.81% | 1,350,000 | $9.8M | No change |
| OKUR Onkure Therapeutics Inc. Class A | 0.66% | 1,927,710 | $8.0M | New |
| SRZN Surrozen Inc. | 0.63% | 260,000 | $7.6M | No change |
| ALXO Alx Oncology Holdings Inc. | 0.53% | 3,184,713 | $6.4M | New |
| MNPR Monopar Therapeutics Inc. | 0.41% | 90,500 | $5.0M | No change |
| MSLE Satellos Bioscience Inc. | 0.38% | 813,666 | $4.6M | New |
| PEPG Pepgen Inc. | 0.34% | 2,325,000 | $4.1M | No change |
| SERA Sera Prognostics Inc. Class A | 0.28% | 1,650,440 | $3.4M | No change |
| TENX Tenax Therapeutics Inc. | 0.28% | 208,333 | $3.3M | No change |
| VRDN Viridian Therapeutics Inc. | 0.27% | 166,288 | $3.3M | Reduce -83.1% |
| TIL Instil Bio Inc. | 0.20% | 292,743 | $2.4M | No change |
| KTTA Pasithea Therapeutics Corp. | 0.13% | 2,100,000 | $1.6M | No change |
| CMPS Compass Pathways PLC | 0.09% | 200,000 | $1.1M | New |
| BOLT Bolt Biotherapeutics Inc. | 0.02% | 72,414 | $293K | No change |
| DTIL Precision Biosciences Inc. | 0.00% | 4,675 | $26K | No change |
Portfolio Sells Q4 2025 → Q1 2026
| CDTX Cidara Therapeutics Inc. | Sold out | 0.00% | −13.66 |
| TERN Terns Pharmaceuticals Inc. | Reduce -75.0% | 5.85% | −8.11 |
| COGT Cogent Biosciences Inc. | Reduce -82.4% | 1.35% | −4.16 |
| AVDL Avadel Pharmaceuticals Ltd. | Sold out | 0.00% | −3.74 |
| ZBIO Zenas Biopharma Inc. | Sold out | 0.00% | −2.00 |
| SLNO Soleno Therapeutics Inc. | Reduce -67.0% | 0.82% | −1.86 |
| VRDN Viridian Therapeutics Inc. | Reduce -83.1% | 0.27% | −1.71 |
| GERN Geron Corp. | Reduce -68.2% | 1.07% | −1.25 |
| DYN Dyne Therapeutics Inc. | Reduce -40.4% | 2.35% | −0.96 |
| ABVX Abivax SA-ADR | Reduce -33.3% | 2.22% | −0.91 |
| CTMX Cytomx Therapeutics Inc. | Sold out | 0.00% | −0.79 |
| ABEO Abeona Therapeutics Inc. | Sold out | 0.00% | −0.63 |
| VSTM Verastem Inc. | Sold out | 0.00% | −0.55 |
| SLN Silence Therapeutics PLC-ADR | Sold out | 0.00% | −0.43 |
| PALI Palisade Bio Inc. | Sold out | 0.00% | −0.35 |
| ENGENE HOLDINGS INC | Sold out | 0.00% | −0.05 |
| ACRS Aclaris Therapeutics Inc. | Reduce -25.0% | 2.08% | +0.35 |
| ORIC Oric Pharmaceuticals Inc. | Reduce -12.7% | 1.95% | +0.83 |
Portfolio Buys Q4 2025 → Q1 2026
| ERAS Erasca Inc. | Add +31.0% | 16.34% | +14.11 |
| PRAX Praxis Precision Medicines I | Add +3.0% | 9.08% | +2.81 |
| CRVS Corvus Pharmaceuticals Inc. | Add +25.6% | 3.41% | +2.30 |
| FTH Faeth Therapeutics Inc. | New | 1.89% | +1.89 |
| AVBP Arrivent Biopharma Inc. | New | 1.70% | +1.70 |
| DBVT DBV Technologies SA-Spon ADR | Add +8.4% | 4.63% | +1.58 |
| MANE Veradermics Inc. | New | 1.57% | +1.57 |
| ANTX AN2 Therapeutics Inc. | New | 0.90% | +0.90 |
| DRUG Bright Minds Biosciences Inc. | Add +11.1% | 3.38% | +0.85 |
| OKUR Onkure Therapeutics Inc. Class A | New | 0.66% | +0.66 |
| ALXO Alx Oncology Holdings Inc. | New | 0.53% | +0.53 |
| MSLE Satellos Bioscience Inc. | New | 0.38% | +0.38 |
| CMPS Compass Pathways PLC | New | 0.09% | +0.09 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 47 | $1.1B | TRVI, PRAX, ERAS, AVBP, ABVX |
| Q1 2026Amended | 46 | $1.2B | ERAS, PRAX, TERN, TRVI, DBVT |
| Q4 2025 | 47 | $1.5B | TERN, CDTX, PRAX, COGT, TRVI |
| Q3 2025 | 47 | $1.2B | SLNO, VRNA, CDTX, TERN, TRVI |
| Q2 2025 | 42 | $977.1M | SLNO, VRNA, CDTX, GERN, SVA |
| Q1 2025 | 40 | $755.1M | SLNO, VRNA, GERN, TRVI, AVDL |
| Q4 2024 | 40 | $892.6M | SLNO, VRNA, GERN, TERN, AVDL |
| Q3 2024 | 43 | $1.2B | SLNO, GERN, HRMY, VRNA, SVA |
| Q2 2024 | 42 | $1.1B | SLNO, GERN, HRMY, SVA, DYN |
| Q1 2024 | 42 | $1.3B | SLNO, GERN, HRMY, SVA, AVDL |