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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
+15.93%
1 Year Est. Return
-7.36%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$897M
AUM Growth
+$35.4M
Cap. Flow
+$232M
Cap. Flow %
25.82%
Top 10 Hldgs %
92.38%
Holding
57
New
8
Increased
5
Reduced
10
Closed
8

Top Buys

Rank Stock Value
1
COIN icon
Coinbase
COIN
+$417M
2
IVV icon
iShares Core S&P 500 ETF
IVV
+$19.6M
3
NU icon
Nu Holdings
NU
+$12.3M
4
GOOG icon
Alphabet (Google) Class C
GOOG
+$868K
5
BITB icon
Bitwise Bitcoin ETF
BITB
+$721K

Top Sells

Rank Stock Value
1
XHLF icon
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF
XHLF
+$70.2M
2
IOT icon
Samsara
IOT
+$11M
3
MSFT icon
Microsoft
MSFT
+$7.54M
4
RDDT icon
Reddit
RDDT
+$5.57M
5
CRM icon
Salesforce
CRM
+$3.06M

Sector Composition

Rank Sector Weight
1 Financials 63.96%
2 Consumer Discretionary 9.06%
3 Technology 5.51%
4 Communication Services 2.41%
5 Healthcare 0.13%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
COIN icon
1
Coinbase
COIN
$38.5B
$407M 45.44%
+1,640,962
New +$417M
NU icon
2
Nu Holdings
NU
$69.2B
$158M 17.66%
15,285,500
+926,000
+6% +$12.3M
ABNB icon
3
Airbnb
ABNB
$89.9B
$70M 7.81%
532,631
-9,000
-2% -$1.21M
OKTA icon
4
Okta
OKTA
$24.7B
$47.1M 5.25%
597,873
– –
CMF icon
5
iShares California Muni Bond ETF
CMF
$4.55B
$23.9M 2.66%
226,366
– –
VTEB icon
6
Vanguard Tax-Exempt Bond Index Fund
VTEB
$45.1B
$21.8M 2.44%
435,683
– –
IVV icon
7
iShares Core S&P 500 ETF
IVV
$878B
$19.5M 2.17%
+33,100
New +$19.6M
ABNB icon
8
PUT
Airbnb
ABNB
$89.9B
$18.6M 2.07%
210,000
+63,500
+43% +$8.55M
RBLX icon
9
Roblox
RBLX
$25.5B
$13.6M 1.52%
235,453
-7,665
-3% -$386K
CART icon
10
Maplebear
CART
$10.5B
$9.19M 1.02%
221,783
+7,623
+4% +$330K
AFRM icon
11
Affirm
AFRM
$23.9B
$7.77M 0.87%
127,520
-9,000
-7% -$500K
MSFT icon
12
PUT
Microsoft
MSFT
$3.45T
$7.62M 0.85%
353,000
+335,300
+1,894% +$143M
META icon
13
Meta Platforms (Facebook)
META
$1.42T
$3.63M 0.4%
6,194
– –
PINS icon
14
Pinterest
PINS
$13.4B
$2.86M 0.32%
98,473
– –
AFRM icon
15
PUT
Affirm
AFRM
$23.9B
$2.46M 0.27%
50,000
-10,300
-17% -$573K
LQD icon
16
iShares iBoxx $ Investment Grade Corporate Bond ETF
LQD
$34.3B
$2.12M 0.24%
19,876
– –
AMZN icon
17
Amazon
AMZN
$2.92T
$2.09M 0.23%
9,520
– –
HYGH icon
18
iShares Interest Rate Hedged High Yield Bond ETF
HYGH
$593M
$1.89M 0.21%
21,915
– –
CRWD icon
19
CrowdStrike
CRWD
$194B
$1.52M 0.17%
17,752
– –
WVE icon
20
Wave Life Sciences
WVE
$1.09B
$960K 0.11%
77,619
– –
GOOG icon
21
Alphabet (Google) Class C
GOOG
$4.36T
$934K 0.1%
+4,920
New +$868K
CART icon
22
PUT
Maplebear
CART
$10.5B
$847K 0.09%
373,300
+352,500
+1,695% +$15.3M
BITB icon
23
Bitwise Bitcoin ETF
BITB
$2.41B
$812K 0.09%
+15,961
New +$721K
SPY icon
24
State Street SPDR S&P 500 ETF Trust
SPY
$790B
$726K 0.08%
1,239
– –
HYG icon
25
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$15.9B
$598K 0.07%
7,600
– –
1
2 3

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CCA
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GX
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HCA
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NHAS
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FLII
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HTHT
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a16z Perennial Management's Q4 2024 Portfolio in Review

As of Q4 2024, a16z Perennial Management held 57 positions worth $897M, up 4.1% from $861M the previous quarter. Its ten largest holdings account for 92% of the portfolio.

a16z Perennial Management deployed $232M of net new capital in Q4 2024, opening 8 new positions and adding to 5 existing holdings. Its largest new stake was Coinbase: 1,640,962 shares worth $407M.

By sector, the portfolio is most concentrated in Financials at 64% of assets, up from 24% a quarter earlier, followed by Consumer Discretionary and Technology.

On the sell side, the largest reduction was Microsoft, an estimated $7.54M trimmed.

  • a16z Perennial Management's largest Q4 2024 buy was Coinbase: 1,640,962 shares worth $407M.
  • a16z Perennial Management added most to Nu Holdings in Q4 2024, an estimated $12.3M increase.
  • a16z Perennial Management's biggest Q4 2024 reduction was Microsoft, cutting an estimated $7.54M.
  • a16z Perennial Management fully exited BondBloxx Bloomberg Six Month Target Duration US Treasury ETF in Q4 2024, selling an estimated $70.2M.
  • a16z Perennial Management's ten largest holdings make up 92% of its $897M portfolio in Q4 2024.
  • a16z Perennial Management opened 8 new positions and closed 8 in Q4 2024.
  • a16z Perennial Management's portfolio value rose 4.1% quarter-over-quarter to $897M.

Based on a16z Perennial Management's 13F filing for Q4 2024, filed 28 Jan 2025.