NVP Associates, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), NVP Associates, LLC reported 5 stock positions worth $166.1 million. Its top holding was Omada Health (OMDA) at 33.7% of the portfolio, followed by Zenas Biopharma (ZBIO, 24.6%) and MBX Biosciences (MBX, 22.5%). Compared with Q2 2025, it sold out of 2. The biggest sale was an exit from Dave (DAVE).

Most Recent 13F
Q2 2026
Location
MENLO PARK, CA
CIK
0001545692
Portfolio Value
$166.1M (Q3 2025)
SEC Filing
0001545692-25-000005 ↗ filed Nov 14, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $125.9M Q1 2024 Q2 2024: $91.3M Q2 2024 Q3 2024: $176.1M Q3 2024 Q4 2024: $186.9M Q4 2024 Q1 2025: $112.2M Q1 2025 Q2 2025: $184.2M Q2 2025 Q3 2025: $166.1M $166.1M Q3 2025 Q4 2025: $255.2M Q4 2025 Q1 2026: $176.2M Q1 2026 Q2 2026: $328.2M Q2 2026

Holdings 5 stocks · $166.1M
OMDA Omada Health Inc. 33.70% 2,531,000 $56.0M No change
ZBIO Zenas Biopharma Inc. 24.58% 1,838,482 $40.8M No change
MBX MBX Biosciences Inc. 22.51% 2,136,335 $37.4M No change
TALK Talkspace Inc. 16.29% 9,802,972 $27.1M No change
GROV Grove Collaborative Holdings 2.91% 3,225,097 $4.8M No change

Portfolio Sells Q2 2025 → Q3 2025
DAVE Dave Inc. Sold out 0.00% −33.91
OPEN Opendoor Technologies Inc. Sold out 0.00% −1.21

Portfolio Buys Q2 2025 → Q3 2025
None this quarter.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 7$328.2MMBX, AVLN, OMDA, ZBIO, SNOW
Q1 2026 5$176.2MMBX, BLLN, ZBIO, OMDA, GROV
Q4 2025 6$255.2MMBX, ZBIO, BLLN, OMDA, TALK
Q3 2025 5$166.1MOMDA, ZBIO, MBX, TALK, GROV
Q2 2025 7$184.2MDAVE, OMDA, TALK, MBX, ZBIO
Q1 2025 6$112.2MDAVE, TALK, MBX, ZBIO, GROV
Q4 2024 7$186.9MDAVE, TALK, MBX, UDMY, ZBIO
Q3 2024 8$176.1MMBX, ZBIO, TALK, DAVE, UDMY
Q2 2024 6$91.3MTALK, UDMY, DAVE, OPEN, GROV
Q1 2024 6$125.9MTALK, UDMY, DAVE, OPEN, GROV