New Leaf Venture Partners, L.L.C.
Registered adviserRegulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
| Rosters | Regulatory AUM | Main clients |
|---|---|---|
| Apr 2026 to Nov 2026 | $408,413,605 | Pooled investment vehicles (100%) |
| Apr 2025 to Mar 2026 | $465,074,503 | Pooled investment vehicles (100%) |
| Apr 2024 to Mar 2025 | $580,046,171 | Pooled investment vehicles (100%) |
| May 2023 to Mar 2024 | $605,472,129 | Pooled investment vehicles (100%) |
| Apr 2023 | $605,472,129 | Pooled investment vehicles (100%) |
| Jun 2022 to Mar 2023 | $745,506,112 | Pooled investment vehicles (100%) |
In the firm's words
- Private markets:
New Leaf focuses primarily on equity investments in privately held, venture and growthstage operating companies in the biopharmaceutical, information convergence, medical devices and biological research tools & infrastructure industries.
- Activist:
New Leaf actively manages its investments with representation on portfolio company boards of directors.
- Fundamental active:
New Leaf applies a rigorous, systematic, fundamentals-driven approach to diligence on all new deals
Portfolio style
Measured from the filed 13F common-share book for Sep 30, 2025, never from the firm's own description.
Closest benchmark: the Russell 2000 as of 2025-09-30, active share 99.7%; sector active share 91.3% against the combined 13F book's sector weights.
Over time 23 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
7 tracked positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025Portfolio Trend
Sector Breakdown
As of Sep 30, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Healthcare | 100.0% | $43,047,841 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increasedTrimmed
Positions the filer reduced| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| PASG | Passage BIO, Inc. | −2,410,496 | 87,426 | $702,030 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarterSold Out
Positions the filer fully exited| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| ITRMF | Iterum Therapeutics plc | 345,020 | $343,294 | |
| No positions match the current search. | ||||
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| EWTX |
Edgewise Therapeutics, Inc.
Healthcare
|
Held | 1,030,161 | $16,709,211 | 38.82% | |
| ARVN |
Arvinas, Inc.
Healthcare
|
Held | 1,585,721 | $13,510,342 | 31.38% | |
|
|
Held | 141,000 | $5,872,650 | 13.64% | ||
| COGT |
Cogent Biosciences, Inc.
Healthcare
|
Held | 250,765 | $3,600,985 | 8.37% | |
| RLYB |
Rallybio Corp
Healthcare
|
Held | 3,301,603 | $1,647,499 | 3.83% | |
| ALEC |
Alector, Inc.
Healthcare
|
Held | 339,569 | $1,005,124 | 2.33% | |
| PASG |
Passage BIO, Inc.
Healthcare
|
Reduced | 87,426 | $702,030 | 1.63% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.