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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
WVE icon
51
Wave Life Sciences
WVE
$993M
$568K 0.04%
77,619
– –
WFC icon
52
Wells Fargo
WFC
$264B
$552K 0.04%
+6,584
New +$534K
C icon
53
Citigroup
C
$228B
$552K 0.04%
+5,435
New +$516K
V icon
54
Visa
V
$677B
$529K 0.04%
+1,551
New +$537K
HD icon
55
Home Depot
HD
$353B
$524K 0.04%
+1,292
New +$508K
CRM icon
56
Salesforce
CRM
$162B
$504K 0.04%
+2,125
New +$536K
MAR icon
57
Marriott International
MAR
$91.1B
$502K 0.04%
+1,929
New +$518K
PG icon
58
Procter & Gamble
PG
$338B
$499K 0.04%
+3,245
New +$507K
ANET icon
59
Arista Networks
ANET
$250B
$465K 0.04%
+3,188
New +$411K
ASML icon
60
ASML
ASML
$691B
$463K 0.04%
+478
New +$376K
ETN icon
61
Eaton
ETN
$178B
$448K 0.03%
+1,198
New +$436K
HSBC icon
62
HSBC
HSBC
$355B
$430K 0.03%
+6,052
New +$394K
KO icon
63
Coca-Cola
KO
$372B
$425K 0.03%
+6,406
New +$441K
PM icon
64
Philip Morris
PM
$290B
$411K 0.03%
+2,536
New +$427K
OPEN icon
65
Opendoor
OPEN
$3.5B
$403K 0.03%
52,282
– –
MU icon
66
Micron Technology
MU
$981B
$402K 0.03%
+2,403
New +$307K
GILD icon
67
Gilead Sciences
GILD
$168B
$401K 0.03%
+3,614
New +$411K
BNY
68
Bank of New York Mellon
BNY
$109B
$397K 0.03%
+3,647
New +$372K
MA icon
69
Mastercard
MA
$492B
$395K 0.03%
+694
New +$399K
CVX icon
70
Chevron
CVX
$386B
$393K 0.03%
+2,531
New +$392K
CAT icon
71
Caterpillar
CAT
$388B
$392K 0.03%
+822
New +$351K
KLAC icon
72
KLA
KLAC
$262B
$374K 0.03%
+3,470
New +$324K
ADI icon
73
Analog Devices
ADI
$188B
$372K 0.03%
+1,515
New +$364K
CART icon
74
Maplebear
CART
$11.4B
$369K 0.03%
10,051
-2,300
-19% -$106K
INTU icon
75
Intuit
INTU
$92B
$369K 0.03%
+541
New +$390K
1 2
3
4 5

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FLII
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IC
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BCP
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SPC
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IA
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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.