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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
-7.43%
1 Year Est. Return
-7.36%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.33B
AUM Growth
+$24.1M
Cap. Flow
-$121M
Cap. Flow %
-9.1%
Top 10 Hldgs %
74.51%
Holding
170
New
29
Increased
62
Reduced
35
Closed
20

Top Buys

Rank Stock Value
1
COIN icon
Coinbase
COIN
+$435M
2
IOT icon
Samsara
IOT
+$64.3M
3
IEUR icon
iShares Core MSCI Europe ETF
IEUR
+$59.1M
4
ABNB icon
Airbnb
ABNB
+$39.8M
5
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$35M

Top Sells

Rank Stock Value
1
IVV icon
iShares Core S&P 500 ETF
IVV
+$251M
2
OKTA icon
Okta
OKTA
+$19.4M
3
VOO icon
Vanguard S&P 500 ETF
VOO
+$7.11M
4
NU icon
Nu Holdings
NU
+$6.21M
5
HOOD icon
Robinhood
HOOD
+$3.18M

Sector Composition

Rank Sector Weight
1 Financials 48.83%
2 Technology 13.58%
3 Communication Services 5.54%
4 Consumer Discretionary 4.45%
5 Healthcare 1.87%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
DOCN icon
26
DigitalOcean
DOCN
$14.7B
$6.8M 0.51%
+141,352
New +$6.22M
AAPL icon
27
Apple
AAPL
$4.44T
$6.77M 0.51%
24,920
+5,834
+31% +$1.57M
DOCN icon
28
PUT
DigitalOcean
DOCN
$14.7B
$6.65M 0.5%
+138,200
New +$6.09M
PINS icon
29
Pinterest
PINS
$13.4B
$6.43M 0.48%
+248,473
New +$7.15M
AMZN icon
30
Amazon
AMZN
$2.94T
$5.56M 0.42%
24,069
-4,255
-15% -$973K
MSFT icon
31
Microsoft
MSFT
$3.74T
$5.39M 0.41%
11,151
-827
-7% -$414K
DASH icon
32
DoorDash
DASH
$93.1B
$3.12M 0.23%
13,796
-1,253
-8% -$294K
BRK.B icon
33
Berkshire Hathaway Class B
BRK.B
$1.11T
$3.08M 0.23%
4,624
+29
+0.6% +$14.4K
CRWD icon
34
CrowdStrike
CRWD
$224B
$2.6M 0.2%
22,188
+360
+2% +$45.8K
HOOD icon
35
PUT
Robinhood
HOOD
$83.7B
$2.5M 0.19%
22,100
-20,400
-48% -$2.65M
OMDA
36
Omada Health Inc
OMDA
$1.44B
$2.48M 0.19%
+157,132
New +$3.19M
BITB icon
37
Bitwise Bitcoin ETF
BITB
$2.43B
$2.4M 0.18%
50,502
+34,541
+216% +$1.88M
CART icon
38
Maplebear
CART
$11.5B
$2.11M 0.16%
46,840
+36,789
+366% +$1.51M
TSLA icon
39
Tesla
TSLA
$1.31T
$1.94M 0.15%
4,315
+437
+11% +$194K
CART icon
40
PUT
Maplebear
CART
$11.5B
$1.69M 0.13%
+37,600
New +$1.54M
PLTR icon
41
Palantir
PLTR
$421B
$1.63M 0.12%
9,156
+1,235
+16% +$224K
OKTA icon
42
PUT
Okta
OKTA
$26B
$1.53M 0.12%
+17,700
New +$1.54M
NFLX icon
43
Netflix
NFLX
$311B
$1.48M 0.11%
15,820
+1,180
+8% +$127K
LLY icon
44
Eli Lilly
LLY
$1.09T
$1.48M 0.11%
1,377
+176
+15% +$168K
WVE icon
45
Wave Life Sciences
WVE
$1.1B
$1.32M 0.1%
77,619
– –
GE icon
46
GE Aerospace
GE
$381B
$1.3M 0.1%
4,236
+303
+8% +$91.2K
WMT icon
47
Walmart Inc
WMT
$897B
$1.26M 0.09%
11,302
+472
+4% +$50.7K
JPM icon
48
JPMorgan Chase
JPM
$964B
$1.22M 0.09%
3,789
+85
+2% +$26.3K
GS icon
49
Goldman Sachs
GS
$302B
$1.2M 0.09%
1,364
+88
+7% +$71.8K
DFAC icon
50
Dimensional US Core Equity 2 ETF
DFAC
$49.5B
$1.05M 0.08%
26,550
– –
1
2
3 4 5

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a16z Perennial Management's Q4 2025 Portfolio in Review

As of Q4 2025, a16z Perennial Management held 170 positions worth $1.33B, up 1.8% from $1.31B the previous quarter. Its ten largest holdings account for 75% of the portfolio.

a16z Perennial Management withdrew a net $121M in Q4 2025, closing 20 positions and reducing 35 holdings. Its most notable exit was Vanguard S&P 500 ETF, an estimated $7.11M position sold in full.

By sector, the portfolio is most concentrated in Financials at 49% of assets, up from 25% a quarter earlier, followed by Technology and Communication Services.

Against the trend, a16z Perennial Management opened a new position in Coinbase worth $330M.

  • a16z Perennial Management's largest Q4 2025 buy was Coinbase: 1,461,157 shares worth $330M.
  • a16z Perennial Management added most to Broadcom in Q4 2025, an estimated $28.8M increase.
  • a16z Perennial Management's biggest Q4 2025 reduction was iShares Core S&P 500 ETF, cutting an estimated $251M.
  • a16z Perennial Management fully exited Vanguard S&P 500 ETF in Q4 2025, selling an estimated $7.11M.
  • a16z Perennial Management's ten largest holdings make up 75% of its $1.33B portfolio in Q4 2025.
  • a16z Perennial Management opened 29 new positions and closed 20 in Q4 2025.
  • a16z Perennial Management's portfolio value rose 1.8% quarter-over-quarter to $1.33B.

Based on a16z Perennial Management's 13F filing for Q4 2025, filed 10 Feb 2026.