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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
VTEB icon
151
Vanguard Tax-Exempt Bond Index Fund
VTEB
$46B
– –
-435,683
Closed -$21.4M
VTI icon
152
Vanguard Morningstar Total Stock Market ETF
VTI
$689B
– –
-17,160
Closed -$5.22M
WEAV icon
153
Weave Communications
WEAV
$402M
– –
-3,221
Closed -$26.8K
RBRK icon
154
Rubrik
RBRK
$20B
– –
-171
Closed -$15.3K
3 4 5 6
7

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FLII
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BCP
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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.