NEA Management Company, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), NEA Management Company, LLC reported 29 stock positions worth $1.8 billion. Its top holding was Rhythm Pharmaceuticals (RYTM) at 16.1% of the portfolio, followed by Arcellx (ACLX, 13.7%) and Verona Pharma (VRNA, 13.2%). Compared with Q2 2025, it opened 1 new position, sold out of 4, added to 1 and reduced 4. The biggest buy was X4 Pharmaceuticals (XFOR, shares +347%) and the biggest sale Arcellx (ACLX, shares −19%).
- Most Recent 13F
- Q2 2026
- Location
- TIMONIUM, MD
- CIK
- 0001512848
- Portfolio Value
- $1.8B (Q3 2025)
- SEC Filing
- 0000897069-25-001705 ↗ filed Nov 14, 2025
Holdings Value
Holdings 29 stocks · $1.8B
| RYTM Rhythm Pharmaceuticals Inc. | 16.13% | 2,909,956 | $293.9M | No change |
| ACLX Arcellx Inc. | 13.72% | 3,045,262 | $250.0M | Reduce -18.7% |
| VRNA Verona Pharma Ltd. | 13.19% | 2,252,994 | $240.4M | Reduce -0.5% |
| COUR Coursera Inc. | 8.27% | 12,867,769 | $150.7M | No change |
| TRVI Trevi Therapeutics Inc. | 6.64% | 13,222,228 | $121.0M | No change |
| CELC Celcuity Inc. | 5.81% | 2,144,261 | $105.9M | Reduce -6.5% |
| SVRA Savara Inc. | 4.79% | 24,471,264 | $87.4M | No change |
| CRSP Crispr Therapeutics AG | 3.76% | 1,058,570 | $68.6M | Reduce -33.3% |
| MBX MBX Biosciences Inc. | 3.47% | 3,614,486 | $63.3M | No change |
| ZBIO Zenas Biopharma Inc. | 3.33% | 2,733,719 | $60.7M | No change |
| GLUE Monte Rosa Therapeutics Inc. | 3.13% | 7,692,298 | $57.0M | No change |
| KRRO Korro Bio Inc. | 2.87% | 1,090,793 | $52.2M | No change |
| ORIC Oric Pharmaceuticals Inc. | 2.71% | 4,118,621 | $49.4M | No change |
| GOSS Gossamer Bio Inc. | 2.61% | 18,093,034 | $47.6M | No change |
| AUPH Aurinia Pharmaceuticals Inc. | 2.41% | 3,969,834 | $43.9M | No change |
| PHAT Phathom Pharmaceuticals Inc. | 1.27% | 1,960,169 | $23.1M | No change |
| NEUE Neuehealth Inc. | 1.00% | 2,726,917 | $18.2M | No change |
| BDTX Black Diamond Therapeutics I | 0.93% | 4,448,757 | $16.9M | No change |
| CVRX CVRX Inc. | 0.90% | 2,026,083 | $16.4M | No change |
| CSBR Champions Oncology Inc. | 0.61% | 1,713,720 | $11.1M | No change |
| IVA Inventiva SA - ADR | 0.46% | 1,462,586 | $8.3M | No change |
| OMDA Omada Health Inc. | 0.44% | 364,115 | $8.1M | No change |
| XFOR X4 Pharmaceuticals Inc. | 0.42% | 2,233,743 | $7.6M | Add +347.1% |
| NKTX Nkarta Inc. | 0.41% | 3,568,781 | $7.4M | No change |
| SNTI Senti Biosciences Inc. | 0.29% | 3,775,615 | $5.3M | No change |
| SYBX Synlogic Inc. | 0.27% | 2,922,772 | $4.9M | No change |
| MRKR Marker Therapeutics Inc. | 0.08% | 1,625,678 | $1.5M | No change |
| OKUR Onkure Therapeutics Inc. Class A | 0.07% | 478,548 | $1.3M | No change |
| IMA Imagenebio Inc. | 0.02% | 50,005 | $408K | New |
Portfolio Sells Q2 2025 → Q3 2025
| ACLX Arcellx Inc. | Reduce -18.7% | 13.72% | −4.84 |
| VRNA Verona Pharma Ltd. | Reduce -0.5% | 13.19% | −2.92 |
| CRSP Crispr Therapeutics AG | Reduce -33.3% | 3.76% | −2.05 |
| INZY Inozyme Pharma Inc. | Sold out | 0.00% | −0.73 |
| ADAPY Adaptimmune Therapeutics-ADR | Sold out | 0.00% | −0.31 |
| IKENA ONCOLOGY INC | Sold out | 0.00% | −0.06 |
| UP Wheels Up Experience Inc. | Sold out | 0.00% | −0.01 |
| CELC Celcuity Inc. | Reduce -6.5% | 5.81% | +3.51 |
Portfolio Buys Q2 2025 → Q3 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 26 | $1.6B | TRVI, MBX, GLUE, CELC, SGP |
| Q1 2026 | 26 | $1.8B | ACLX, CELC, SGP, TRVI, SVRA |
| Q4 2025 | 27 | $2.0B | CELC, RYTM, ACLX, TRVI, SVRA |
| Q3 2025 | 29 | $1.8B | RYTM, ACLX, VRNA, COUR, TRVI |
| Q2 2025 | 32 | $1.3B | ACLX, VRNA, RYTM, COUR, CRSP |
| Q1 2025 | 37 | $1.3B | ACLX, VRNA, RYTM, TEM, COUR |
| Q4 2024 | 41 | $1.8B | ACLX, VRNA, TEM, RYTM, NN |
| Q3 2024 | 42 | $1.8B | ACLX, TEM, VRNA, RYTM, SVRA |
| Q2 2024 | 41 | $1.3B | ACLX, TEM, RYTM, SVRA, COUR |
| Q1 2024 | 44 | $1.6B | ACLX, CRSP, RYTM, SVRA, COUR |