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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
CMCSA icon
101
Comcast
CMCSA
$91B
$328K 0.02%
10,959
-492
-4% -$14K
BBVA icon
102
Banco Bilbao Vizcaya Argentaria
BBVA
$157B
$307K 0.02%
13,150
+1,536
+13% +$32.1K
ABT icon
103
Abbott
ABT
$190B
$291K 0.02%
2,320
-6
-0.3% -$764
UBS icon
104
UBS Group
UBS
$176B
$285K 0.02%
6,159
+511
+9% +$20.6K
TJX icon
105
TJX Companies
TJX
$172B
$284K 0.02%
1,852
+230
+14% +$34K
MCD icon
106
McDonald's
MCD
$194B
$277K 0.02%
905
+1
+0.1% +$306
HWM icon
107
Howmet Aerospace
HWM
$112B
$271K 0.02%
1,321
-25
-2% -$4.98K
PWR icon
108
Quanta Services
PWR
$101B
$269K 0.02%
637
+61
+11% +$26.8K
AIG icon
109
American International
AIG
$40.4B
$267K 0.02%
3,124
-79
-2% -$6.32K
NVO
110
Novo Nordisk
NVO
$207B
$263K 0.02%
5,176
– –
TM icon
111
Toyota
TM
$225B
$262K 0.02%
1,226
– –
TXN icon
112
Texas Instruments
TXN
$257B
$262K 0.02%
1,509
-16
-1% -$2.74K
RDDT icon
113
Reddit
RDDT
$30.1B
$259K 0.02%
1,126
– –
PFE icon
114
Pfizer
PFE
$152B
$252K 0.02%
10,118
-686
-6% -$17.3K
EBAY icon
115
eBay
EBAY
$47.2B
$251K 0.02%
2,886
+28
+1% +$2.42K
BSX icon
116
Boston Scientific
BSX
$74.2B
$251K 0.02%
2,636
-153
-5% -$15K
NOC icon
117
Northrop Grumman
NOC
$81.8B
$251K 0.02%
440
+47
+12% +$27.3K
AXP icon
118
American Express
AXP
$230B
$251K 0.02%
678
+62
+10% +$22.2K
CMI icon
119
Cummins
CMI
$87.1B
$250K 0.02%
490
-64
-12% -$29.9K
CL icon
120
Colgate-Palmolive
CL
$73.6B
$249K 0.02%
3,156
-79
-2% -$6.19K
UL icon
121
Unilever
UL
$134B
$248K 0.02%
3,790
– –
SMFG icon
122
Sumitomo Mitsui Financial
SMFG
$160B
$245K 0.02%
12,699
– –
CEG icon
123
Constellation Energy
CEG
$98.6B
$236K 0.02%
+668
New +$243K
ADBE icon
124
Adobe
ADBE
$105B
$236K 0.02%
673
-62
-8% -$21.1K
LOW icon
125
Lowe's Companies
LOW
$124B
$235K 0.02%
973
-66
-6% -$15.8K
3 4
5
6 7

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FLII
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IA
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FFM
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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.