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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
CMCSA icon
76
Comcast
CMCSA
$91B
$360K 0.03%
+11,451
New +$384K
FISV
77
Fiserv Inc
FISV
$28B
$342K 0.03%
+2,650
New +$380K
MUFG icon
78
Mitsubishi UFJ Financial
MUFG
$249B
$336K 0.03%
+21,108
New +$313K
NVS icon
79
Novartis
NVS
$294B
$336K 0.03%
+2,618
New +$319K
HLT icon
80
Hilton Worldwide
HLT
$70.8B
$329K 0.03%
+1,268
New +$343K
ABT icon
81
Abbott
ABT
$190B
$312K 0.02%
+2,326
New +$305K
AZN icon
82
AstraZeneca
AZN
$246B
$306K 0.02%
+1,993
New +$302K
AMAT icon
83
Applied Materials
AMAT
$417B
$304K 0.02%
+1,487
New +$270K
SAP icon
84
SAP
SAP
$242B
$303K 0.02%
+1,133
New +$319K
MRK icon
85
Merck
MRK
$322B
$291K 0.02%
+3,462
New +$285K
NVO
86
Novo Nordisk
NVO
$207B
$287K 0.02%
+5,176
New +$303K
TXN icon
87
Texas Instruments
TXN
$257B
$280K 0.02%
+1,525
New +$298K
GM icon
88
General Motors
GM
$78.4B
$279K 0.02%
+4,580
New +$255K
PFE icon
89
Pfizer
PFE
$152B
$275K 0.02%
+10,804
New +$267K
MCD icon
90
McDonald's
MCD
$194B
$275K 0.02%
+904
New +$275K
BSX icon
91
Boston Scientific
BSX
$74.2B
$272K 0.02%
+2,789
New +$289K
HWM icon
92
Howmet Aerospace
HWM
$112B
$264K 0.02%
+1,346
New +$245K
DD icon
93
DuPont de Nemours
DD
$19.5B
$262K 0.02%
+2,678
New +$252K
LOW icon
94
Lowe's Companies
LOW
$124B
$261K 0.02%
+1,039
New +$255K
EBAY icon
95
eBay
EBAY
$47.2B
$260K 0.02%
+2,858
New +$253K
ADBE icon
96
Adobe
ADBE
$105B
$259K 0.02%
+735
New +$264K
RDDT icon
97
Reddit
RDDT
$30.1B
$259K 0.02%
1,126
– –
CL icon
98
Colgate-Palmolive
CL
$73.6B
$259K 0.02%
+3,235
New +$276K
UL icon
99
Unilever
UL
$134B
$253K 0.02%
+3,790
New +$262K
CDNS icon
100
Cadence Design Systems
CDNS
$90.2B
$252K 0.02%
+717
New +$247K
2 3
4
5 6

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FLII
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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.