NVP Associates, LLC

Portfolio Overview

NVP Associates, LLC disclosed 5 positions worth $176.2M in its Form 13F-HR for Q1 2026, led by $MBX (MBX Biosciences, Inc.) at 36.2% of the equity portfolio, followed by $BLLN and $ZBIO. During the quarter the fund opened 0 new positions and exited 1 and a full exit from $TALK. The portfolio is most concentrated in Healthcare (97.7% of disclosed assets). All figures are sourced directly from NVP Associates, LLC’s Form 13F-HR filing with the SEC under CIK 1545692.

• 

  MBX Biosciences, Inc.

  $MBX

  —

  Quality

  $63.8M2,136,335 sh
• 

  BillionToOne, Inc.

  $BLLN

  —

  Quality

  $40.5M513,330 sh
• 

  Zenas BioPharma, Inc.

  $ZBIO

  14.4#2,761

  Quality

  $35.9M1,838,482 sh
• 

  Omada Health, Inc.

  $OMDA

  45.5

  Quality

  $31.8M2,531,000 sh
• 

  Grove Collaborative Holdings, Inc.

  $GROV

  21.9

  Quality

  $4.1M3,225,097 sh

Company	Quality	Value	Shares
MBX Biosciences, Inc.$MBX	—	$63.8M	2,136,335
BillionToOne, Inc.$BLLN	—	$40.5M	513,330
Zenas BioPharma, Inc.$ZBIO	14.4#2,761	$35.9M	1,838,482
Omada Health, Inc.$OMDA	45.5	$31.8M	2,531,000
Grove Collaborative Holdings, Inc.$GROV	21.9	$4.1M	3,225,097

Showing top 5 of 5 holdings.

Full Holdings — NVP Associates, LLC (Q1 2026)

All 5 disclosed positions from the latest Form 13F-HR, with quarter-over-quarter share changes and 13F Pro quality scores. Sourced from SEC EDGAR.

#	Ticker	Company	Value	Weight	QoQ	Quality
1	$MBX	MBX Biosciences, Inc.	$63.8M	36.2%	+0%	—
2	$BLLN	BillionToOne, Inc.	$40.5M	23.0%	+0%	—
3	$ZBIO	Zenas BioPharma, Inc.	$35.9M	20.4%	+0%	14.4
4	$OMDA	Omada Health, Inc.	$31.8M	18.1%	+0%	45.5
5	$GROV	Grove Collaborative Holdings, Inc.	$4.1M	2.3%	+0%	21.9