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APM

a16z Perennial Management Portfolio holdings

AUM $1.24B
1-Year Est. Return 7.36%
This Fund
S&P 500
This Quarter Est. Return
+8.68%
1 Year Est. Return
-7.36%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.31B
AUM Growth
+$1.53M
Cap. Flow
+$193M
Cap. Flow %
14.79%
Top 10 Hldgs %
85.5%
Holding
170
New
118
Increased
9
Reduced
5
Closed
29

Top Buys

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$245M
2
HOOD icon
Robinhood
HOOD
+$67.5M
3
META icon
Meta Platforms (Facebook)
META
+$20.9M
4
AVGO icon
Broadcom
AVGO
+$19.6M
5
VOO icon
Vanguard S&P 500 ETF
VOO
+$12.8M

Top Sells

Rank Stock Value
1
COIN icon
Coinbase
COIN
+$536M
2
ABNB icon
Airbnb
ABNB
+$68.4M
3
USHY icon
iShares Broad USD High Yield Corporate Bond ETF
USHY
+$23.4M
4
VTEB icon
Vanguard Tax-Exempt Bond Index Fund
VTEB
+$21.4M
5
NU icon
Nu Holdings
NU
+$20.2M

Sector Composition

Rank Sector Weight
1 Financials 25.04%
2 Technology 8.27%
3 Communication Services 3.85%
4 Consumer Discretionary 1.17%
5 Healthcare 0.46%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
PLTR icon
26
Palantir
PLTR
$423B
$1.44M 0.11%
+7,921
New +$1.28M
GE icon
27
GE Aerospace
GE
$385B
$1.18M 0.09%
+3,933
New +$1.08M
JPM icon
28
JPMorgan Chase
JPM
$963B
$1.17M 0.09%
+3,704
New +$1.1M
ORCL icon
29
Oracle
ORCL
$419B
$1.14M 0.09%
+4,066
New +$1.04M
WMT icon
30
Walmart Inc
WMT
$900B
$1.12M 0.09%
+10,830
New +$1.08M
DFAC icon
31
Dimensional US Core Equity 2 ETF
DFAC
$49.6B
$1.02M 0.08%
+26,550
New +$991K
GS icon
32
Goldman Sachs
GS
$303B
$1.02M 0.08%
+1,276
New +$946K
BITB icon
33
Bitwise Bitcoin ETF
BITB
$2.46B
$993K 0.08%
15,961
– –
AFRM icon
34
Affirm
AFRM
$25.4B
$969K 0.07%
13,260
-73,260
-85% -$5.58M
LLY icon
35
Eli Lilly
LLY
$1.1T
$916K 0.07%
+1,201
New +$894K
SPY icon
36
State Street SPDR S&P 500 ETF Trust
SPY
$810B
$825K 0.06%
+1,239
New +$794K
MS icon
37
Morgan Stanley
MS
$340B
$823K 0.06%
+5,175
New +$764K
AON icon
38
Aon
AON
$75.5B
$822K 0.06%
+2,304
New +$833K
AMD icon
39
Advanced Micro Devices
AMD
$758B
$796K 0.06%
+4,918
New +$794K
UI icon
40
Ubiquiti
UI
$34.7B
$699K 0.05%
+1,058
New +$528K
XOM icon
41
ExxonMobil
XOM
$660B
$672K 0.05%
+5,962
New +$663K
JNJ icon
42
Johnson & Johnson
JNJ
$635B
$663K 0.05%
+3,573
New +$612K
ETHW
43
Bitwise Ethereum ETF
ETHW
$198M
$662K 0.05%
22,197
– –
UNH icon
44
UnitedHealth
UNH
$370B
$652K 0.05%
+1,889
New +$571K
CFLT
45
DELISTED
Confluent
CFLT
$620K 0.05%
+31,332
New +$655K
COST icon
46
Costco
COST
$423B
$607K 0.05%
+656
New +$629K
GEV icon
47
GE Vernova
GEV
$272B
$596K 0.05%
+970
New +$588K
COF icon
48
Capital One
COF
$136B
$590K 0.05%
+2,774
New +$607K
RTX icon
49
RTX Corp
RTX
$302B
$589K 0.05%
+3,517
New +$546K
ABBV icon
50
AbbVie
ABBV
$442B
$581K 0.04%
+2,510
New +$511K
1
2
3 4 5

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FFM
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a16z Perennial Management's Q3 2025 Portfolio in Review

As of Q3 2025, a16z Perennial Management held 170 positions worth $1.31B, up 0.12% from $1.31B the previous quarter. Its ten largest holdings account for 85% of the portfolio.

a16z Perennial Management deployed $193M of net new capital in Q3 2025, opening 118 new positions and adding to 9 existing holdings. Its largest new stake was Robinhood: 618,867 shares worth $88.6M.

By sector, the portfolio is most concentrated in Financials at 25% of assets, down from 58% a quarter earlier, followed by Technology and Communication Services.

On the sell side, the largest reduction was Nu Holdings, an estimated $20.2M trimmed.

  • a16z Perennial Management's largest Q3 2025 buy was Robinhood: 618,867 shares worth $88.6M.
  • a16z Perennial Management added most to iShares Core S&P 500 ETF in Q3 2025, an estimated $245M increase.
  • a16z Perennial Management's biggest Q3 2025 reduction was Nu Holdings, cutting an estimated $20.2M.
  • a16z Perennial Management fully exited Coinbase in Q3 2025, selling an estimated $536M.
  • a16z Perennial Management's ten largest holdings make up 85% of its $1.31B portfolio in Q3 2025.
  • a16z Perennial Management opened 118 new positions and closed 29 in Q3 2025.
  • a16z Perennial Management's portfolio value rose 0.12% quarter-over-quarter to $1.31B.

Based on a16z Perennial Management's 13F filing for Q3 2025, filed 5 Nov 2025.