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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
+54.47%
1 Year Est. Return
-7.36%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$1.31B
AUM Growth
+$434M
Cap. Flow
+$17.9M
Cap. Flow %
1.37%
Top 10 Hldgs %
91.74%
Holding
62
New
13
Increased
1
Reduced
9
Closed
10

Top Buys

Rank Stock Value
1
USHY icon
iShares Broad USD High Yield Corporate Bond ETF
USHY
+$8.3M
2
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$4.83M
3
DASH icon
DoorDash
DASH
+$2.73M
4
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$805K
5
RVMD icon
Revolution Medicines
RVMD
+$70K

Top Sells

Rank Stock Value
1
MUB icon
iShares National Muni Bond ETF
MUB
+$23.6M
2
COIN icon
Coinbase
COIN
+$16.2M
3
CART icon
Maplebear
CART
+$9.37M
4
NU icon
Nu Holdings
NU
+$4.28M
5
ABNB icon
Airbnb
ABNB
+$3M

Sector Composition

Rank Sector Weight
1 Financials 57.92%
2 Consumer Discretionary 5.7%
3 Technology 5.47%
4 Communication Services 1.94%
5 Healthcare 0.06%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
COIN icon
1
Coinbase
COIN
$38.5B
$536M 41.09%
1,530,352
-69,410
-4% -$16.2M
NU icon
2
Nu Holdings
NU
$69.2B
$214M 16.38%
15,585,200
-357,300
-2% -$4.28M
COIN icon
3
PUT
Coinbase
COIN
$38.5B
$83.6M 6.4%
238,500
-70,600
-23% -$16.5M
XHLF icon
4
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF
XHLF
$1.94B
$70.1M 5.37%
1,392,000
– –
ABNB icon
5
Airbnb
ABNB
$89.9B
$68.4M 5.24%
517,105
-23,700
-4% -$3M
OKTA icon
6
Okta
OKTA
$24.7B
$59.8M 4.58%
597,873
– –
USHY icon
7
iShares Broad USD High Yield Corporate Bond ETF
USHY
$29.3B
$23.4M 1.79%
+226,366
New +$8.3M
VTEB icon
8
Vanguard Tax-Exempt Bond Index Fund
VTEB
$45.1B
$21.4M 1.64%
435,683
– –
IVV icon
9
iShares Core S&P 500 ETF
IVV
$878B
$20.6M 1.57%
33,100
– –
RBLX icon
10
Roblox
RBLX
$25.5B
$15.4M 1.18%
146,155
-24,598
-14% -$1.93M
ABNB icon
11
PUT
Airbnb
ABNB
$89.9B
$11.2M 0.86%
84,900
-23,700
-22% -$3M
MSFT icon
12
Microsoft
MSFT
$3.45T
$8.81M 0.67%
17,712
– –
AFRM icon
13
Affirm
AFRM
$23.9B
$5.98M 0.46%
86,520
-17,700
-17% -$918K
VTI icon
14
Vanguard Morningstar Total Stock Market ETF
VTI
$660B
$5.22M 0.4%
+17,160
New +$4.83M
META icon
15
Meta Platforms (Facebook)
META
$1.42T
$4.57M 0.35%
6,194
– –
PINS icon
16
Pinterest
PINS
$13.4B
$3.53M 0.27%
98,473
– –
DASH icon
17
DoorDash
DASH
$85.5B
$3.35M 0.26%
+13,590
New +$2.73M
CRWD icon
18
CrowdStrike
CRWD
$194B
$2.26M 0.17%
17,752
– –
AMZN icon
19
Amazon
AMZN
$2.92T
$2.09M 0.16%
9,520
– –
BITB icon
20
Bitwise Bitcoin ETF
BITB
$2.41B
$935K 0.07%
15,961
– –
GOOGL icon
21
Alphabet (Google) Class A
GOOGL
$4.36T
$869K 0.07%
+4,920
New +$805K
NFLX icon
22
Netflix
NFLX
$299B
$753K 0.06%
5,620
– –
RBLX icon
23
PUT
Roblox
RBLX
$25.5B
$736K 0.06%
7,000
-21,000
-75% -$1.65M
CART icon
24
Maplebear
CART
$10.5B
$559K 0.04%
12,351
-215,488
-95% -$9.37M
WVE icon
25
Wave Life Sciences
WVE
$1.09B
$505K 0.04%
77,619
– –
1
2 3

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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 Q2 2025 Portfolio in Review

As of Q2 2025, a16z Perennial Management held 62 positions worth $1.31B, up 50% from $871M the previous quarter. Its ten largest holdings account for 92% of the portfolio.

a16z Perennial Management's Q2 2025 filing shows 13 new, 1 increased, 9 reduced and 10 closed positions. Its largest new stake was iShares Broad USD High Yield Corporate Bond ETF: 226,366 shares worth $23.4M. The largest sale was iShares National Muni Bond ETF, an estimated $23.6M.

By sector, the portfolio is most concentrated in Financials at 58% of assets, up from 51% a quarter earlier, followed by Consumer Discretionary and Technology.

  • a16z Perennial Management's largest Q2 2025 buy was iShares Broad USD High Yield Corporate Bond ETF: 226,366 shares worth $23.4M.
  • a16z Perennial Management added most to Progyny in Q2 2025, an estimated $7.5K increase.
  • a16z Perennial Management's biggest Q2 2025 reduction was Coinbase, cutting an estimated $16.2M.
  • a16z Perennial Management fully exited iShares National Muni Bond ETF in Q2 2025, selling an estimated $23.6M.
  • a16z Perennial Management's ten largest holdings make up 92% of its $1.31B portfolio in Q2 2025.
  • a16z Perennial Management opened 13 new positions and closed 10 in Q2 2025.
  • a16z Perennial Management's portfolio value rose 50% quarter-over-quarter to $1.31B.

Based on a16z Perennial Management's 13F filing for Q2 2025, filed 1 Aug 2025.