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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
NU icon
1
Nu Holdings
NU
$69.2B
$226M 17.31%
14,135,100
-1,450,100
-9% -$20.2M
HOOD icon
2
Robinhood
HOOD
$77.8B
$88.6M 6.78%
+618,867
New +$67.5M
XHLF icon
3
BondBloxx Bloomberg Six Month Target Duration US Treasury ETF
XHLF
$1.94B
$70.2M 5.37%
1,392,000
– –
OKTA icon
4
Okta
OKTA
$24.7B
$54.8M 4.2%
598,107
+234
+0% +$21.8K
NU icon
5
PUT
Nu Holdings
NU
$69.2B
$27.2M 2.08%
+1,696,500
New +$23.7M
META icon
6
Meta Platforms (Facebook)
META
$1.42T
$25.2M 1.93%
34,280
+28,086
+453% +$20.9M
AVGO icon
7
Broadcom
AVGO
$1.85T
$21.1M 1.62%
+64,048
New +$19.6M
RBLX icon
8
Roblox
RBLX
$25.4B
$15.7M 1.2%
113,532
-32,623
-22% -$4.05M
IVV icon
9
iShares Core S&P 500 ETF
IVV
$878B
$14.8M 1.14%
414,212
+381,112
+1,151% +$245M
EWJ icon
10
iShares MSCI Japan ETF
EWJ
$21.9B
$7.84M 0.6%
+118,984
New +$9.2M
NVDA icon
11
NVIDIA
NVDA
$4.86T
$7.69M 0.59%
+41,235
New +$7.19M
VOO icon
12
Vanguard S&P 500 ETF
VOO
$979B
$7.11M 0.54%
+21,672
New +$12.8M
BAR icon
13
GraniteShares Gold Shares
BAR
$1.36B
$6.92M 0.53%
+181,946
New +$6.21M
GOOG icon
14
Alphabet (Google) Class C
GOOG
$4.36T
$6.78M 0.52%
+27,858
New +$5.86M
AMZN icon
15
Amazon
AMZN
$2.92T
$6.22M 0.48%
28,324
+18,804
+198% +$4.26M
MSFT icon
16
Microsoft
MSFT
$3.45T
$6.2M 0.47%
11,978
-5,734
-32% -$2.93M
HOOD icon
17
PUT
Robinhood
HOOD
$77.8B
$6.09M 0.47%
+42,500
New +$4.63M
AAPL icon
18
Apple
AAPL
$4.54T
$4.86M 0.37%
+19,086
New +$4.31M
DASH icon
19
DoorDash
DASH
$85.5B
$4.09M 0.31%
15,049
+1,459
+11% +$366K
SPY icon
20
PUT
State Street SPDR S&P 500 ETF Trust
SPY
$790B
$3.33M 0.25%
+5,000
New +$3.21M
VEA icon
21
Vanguard FTSE Developed Markets ETF
VEA
$229B
$2.93M 0.22%
+48,840
New +$2.85M
CRWD icon
22
CrowdStrike
CRWD
$194B
$2.68M 0.2%
21,828
+4,076
+23% +$463K
BRK.B icon
23
Berkshire Hathaway Class B
BRK.B
$1.1T
$2.31M 0.18%
4,595
+4,585
+45,850% +$2.22M
NFLX icon
24
Netflix
NFLX
$299B
$1.76M 0.13%
14,640
+9,020
+160% +$1.1M
TSLA icon
25
Tesla
TSLA
$1.23T
$1.72M 0.13%
+3,878
New +$1.35M
1
2 3 4 5

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GX
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HCA
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NHAS
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FLII
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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.