a16z Capital Management, L.L.C.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), a16z Capital Management, L.L.C. reported 13 stock positions worth $1.6 billion. Its top holding was Figma Class A (FIG) at 38.4% of the portfolio, followed by Navan Class A (NAVN, 29.4%) and Meta Platforms Class A (META, 8.9%). Compared with Q3 2025, it opened 2 new positions and reduced 2. The biggest buy was a new position in Navan Class A (NAVN) and the biggest sale Revolution Medicines (RVMD, shares −66%).
- Most Recent 13F
- Q2 2026
- Location
- MENLO PARK, CA
- CIK
- 0001540358
- Portfolio Value
- $1.6B (Q4 2025)
- SEC Filing
- 0001540358-26-000003 ↗ filed Feb 17, 2026
Holdings Value
Holdings 13 stocks · $1.6B
| FIG Figma Inc. Class A | 38.43% | 16,246,129 | $607.1M | No change |
| NAVN Navan Inc. Class A | 29.40% | 27,195,364 | $464.5M | New |
| META Meta Platforms Inc. Class A | 8.88% | 212,531 | $140.3M | No change |
| RVMD Revolution Medicines Inc. | 4.64% | 921,099 | $73.4M | Reduce -66.5% |
| MAZE Maze Therapeutics Inc. | 4.46% | 1,702,225 | $70.5M | No change |
| XYZ Block Inc. | 4.19% | 1,016,697 | $66.2M | No change |
| OMDA Omada Health Inc. | 3.46% | 3,460,929 | $54.6M | Reduce -25.0% |
| BIOA Bioage Labs Inc. | 2.79% | 3,233,170 | $44.1M | No change |
| NAUT Nautilus Biotechnology Inc. | 2.18% | 17,653,917 | $34.4M | No change |
| CAMP CAMP4 Therapeutics Corp. | 0.82% | 2,125,339 | $13.0M | No change |
| ERAS Erasca Inc. | 0.67% | 2,862,500 | $10.6M | No change |
| DNA Ginkgo Bioworks Holdings Inc. | 0.06% | 108,568 | $902K | No change |
| HTBK Heritage Commerce Corp. | 0.01% | 82,740 | $129K | New |
Portfolio Sells Q3 2025 → Q4 2025
Portfolio Buys Q3 2025 → Q4 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 19 | $14.2B | SPCX, NAVN, RVMD, META, FIG |
| Q1 2026 | 16 | $1.3B | NAVN, FIG, META, RVMD, NAUT |
| Q4 2025 | 13 | $1.6B | FIG, NAVN, META, RVMD, MAZE |
| Q3 2025 | 11 | $1.4B | FIG, META, RVMD, OMDA, XYZ |
| Q2 2025 | 10 | $312.9M | RVMD, OMDA, XYZ, MAZE, BIOA |
| Q1 2025 | 13 | $700.9M | DASH, IOT, RVMD, XYZ, ACCD |
| Q4 2024 | 12 | $745.3M | DASH, IOT, RVMD, XYZ, NAUT |
| Q3 2024 | 13 | $1.1B | HOOD, IOT, RVMD, CART, XYZ |
| Q2 2024 | 13 | $1.2B | HOOD, CART, DASH, IOT, RVMD |
| Q1 2024 | 13 | $1.4B | HOOD, CART, DASH, IOT, RVMD |