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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
+54.47%
1 Year Est. Return
-7.36%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.31B
AUM Growth
+$434M
Cap. Flow
+$17.9M
Cap. Flow %
1.37%
Top 10 Hldgs %
91.74%
Holding
62
New
13
Increased
1
Reduced
9
Closed
10

Top Buys

Rank Stock Value
1
USHY icon
iShares Broad USD High Yield Corporate Bond ETF
USHY
+$8.3M
2
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$4.83M
3
DASH icon
DoorDash
DASH
+$2.73M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$805K
5
RVMD icon
Revolution Medicines
RVMD
+$70K

Top Sells

Rank Stock Value
1
MUB icon
iShares National Muni Bond ETF
MUB
+$23.6M
2
COIN icon
Coinbase
COIN
+$16.2M
3
CART icon
Maplebear
CART
+$9.37M
4
NU icon
Nu Holdings
NU
+$4.28M
5
ABNB icon
Airbnb
ABNB
+$3M

Sector Composition

Rank Sector Weight
1 Financials 57.92%
2 Consumer Discretionary 5.7%
3 Technology 5.47%
4 Communication Services 1.94%
5 Healthcare 0.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SPY icon
51
State Street SPDR S&P 500 ETF Trust
SPY
$810B
– –
-1,239
Closed -$693K
1 2
3

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HTHT
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a16z Perennial Management's Q2 2025 Portfolio in Review

As of Q2 2025, a16z Perennial Management held 62 positions worth $1.31B, up 50% from $871M the previous quarter. Its ten largest holdings account for 92% of the portfolio.

a16z Perennial Management's Q2 2025 filing shows 13 new, 1 increased, 9 reduced and 10 closed positions. Its largest new stake was iShares Broad USD High Yield Corporate Bond ETF: 226,366 shares worth $23.4M. The largest sale was iShares National Muni Bond ETF, an estimated $23.6M.

By sector, the portfolio is most concentrated in Financials at 58% of assets, up from 51% a quarter earlier, followed by Consumer Discretionary and Technology.

  • a16z Perennial Management's largest Q2 2025 buy was iShares Broad USD High Yield Corporate Bond ETF: 226,366 shares worth $23.4M.
  • a16z Perennial Management added most to Progyny in Q2 2025, an estimated $7.5K increase.
  • a16z Perennial Management's biggest Q2 2025 reduction was Coinbase, cutting an estimated $16.2M.
  • a16z Perennial Management fully exited iShares National Muni Bond ETF in Q2 2025, selling an estimated $23.6M.
  • a16z Perennial Management's ten largest holdings make up 92% of its $1.31B portfolio in Q2 2025.
  • a16z Perennial Management opened 13 new positions and closed 10 in Q2 2025.
  • a16z Perennial Management's portfolio value rose 50% quarter-over-quarter to $1.31B.

Based on a16z Perennial Management's 13F filing for Q2 2025, filed 1 Aug 2025.