a16z Perennial Management, L.P.
Long book
$1.20B
Q1 2026
Positions
142
Top-10 weight
78%
concentration
Last quarter
+9.4%
SPY +14.8%
Turnover
25%
of book per quarter
Strategy in plain words
auto-generated from filingsa16z Perennial Management, L.P. is a diversified fundamental manager, running a $1.20B US long book across 142 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: COINBASE GLOBAL INC -CLASS A, NU HOLDINGS LTD/CAYMAN ISL-A, SAMSARA INC-CL A, BONDBLOXX BBG 6 MTH US TREAS, BROADCOM INC.
Over the last 9 quarters its long book ran on average 3.3pp per quarter behind the S&P 500, beating the index in 2 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
-7.6%
Q2 2024
-9.8%
Q3 2024
+11.7%
Q4 2024
-15.3%
Q1 2025
+47.4%
Q2 2025
+1.3%
Q3 2025
-13.4%
Q4 2025
-13.2%
Q1 2026
+9.4%
Sector allocation
Financials 56%
Technology 35%
Services media 5%
Healthcare 2%
Consumer discretionary 1%
Industrials 1%
Energy 0%
Consumer staples 0%
Long book by quarter
What does a16z Perennial own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| COIN COINBASE GLOBAL INC -CLASS A | Financials | 1.5M | $256.9M | 21.4% | +0.7% |
| NU NU HOLDINGS LTD/CAYMAN ISL-A | Financials | 13.9M | $199.1M | 16.6% | +0.8% |
| IOT SAMSARA INC-CL A | Technology | 6.0M | $189.8M | 15.8% | +260.4% |
| AVGO BROADCOM INC | Technology | 143.5K | $44.4M | 3.7% | -0.6% |
| ABNB AIRBNB INC-CLASS A | Services media | 299.5K | $37.8M | 3.1% | -6.4% |
| AXP AMERICAN EXPRESS CO | Financials | 116.7K | $35.3M | 2.9% | +17113.6% |
| HOOD ROBINHOOD MARKETS INC - A | Financials | 494.4K | $34.3M | 2.9% | -16.8% |
| META META PLATFORMS INC-CLASS A | Technology | 55.1K | $31.5M | 2.6% | -8.0% |
| OKTA OKTA INC | Technology | 335.8K | $26.4M | 2.2% | -10.7% |
| RVMD REVOLUTION MEDICINES INC | Healthcare | 104.2K | $10.1M | 0.8% | -43.0% |
| AAPL APPLE INC | Technology | 25.8K | $6.6M | 0.5% | +3.6% |
| DIS WALT DISNEY CO/THE | Services media | 67.8K | $6.5M | 0.5% | Held |
| NVDA NVIDIA CORP | Technology | 37.2K | $6.5M | 0.5% | -5.6% |
| RBLX ROBLOX CORP -CLASS A | Technology | 113.4K | $6.4M | 0.5% | -0.1% |
| AMZN AMAZON.COM INC | Consumer discretionary | 24.1K | $5.0M | 0.4% | Held |
| AFRM AFFIRM HOLDINGS INC | Financials | 103.2K | $4.7M | 0.4% | Held |
| MSFT MICROSOFT CORP | Technology | 11.2K | $4.1M | 0.3% | Held |
| GOOGL ALPHABET INC-CL A | Technology | 14.0K | $4.0M | 0.3% | New |
| GOOG ALPHABET INC-CL C | Technology | 12.0K | $3.4M | 0.3% | -56.4% |
| OMDA OMADA HEALTH INC | Healthcare | 192.5K | $2.4M | 0.2% | +22.5% |
| CRWD CROWDSTRIKE HOLDINGS INC - A | Technology | 5.7K | $2.2M | 0.2% | +3.4% |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 4.6K | $2.2M | 0.2% | 0.0% |
| PINS PINTEREST INC- CLASS A | Technology | 99.8K | $1.8M | 0.2% | -59.8% |
| DOCN DIGITALOCEAN HOLDINGS INC | Technology | 18.6K | $1.6M | 0.1% | -86.9% |
| CART MAPLEBEAR INC | Services media | 41.2K | $1.5M | 0.1% | -12.0% |
| TSLA TESLA INC | Industrials | 3.9K | $1.5M | 0.1% | -9.0% |
| NFLX NETFLIX INC | Services media | 14.6K | $1.4M | 0.1% | -8.0% |
| WMT WALMART INC | Consumer discretionary | 10.7K | $1.3M | 0.1% | -5.7% |
| PLTR PALANTIR TECHNOLOGIES INC-A | Technology | 8.0K | $1.2M | 0.1% | -13.1% |
| LLY ELI LILLY & CO | Healthcare | 1.2K | $1.1M | 0.1% | -10.1% |
| JPM JPMORGAN CHASE & CO | Financials | 3.8K | $1.1M | 0.1% | Held |
| GE GENERAL ELECTRIC | Industrials | 3.9K | $1.1M | 0.1% | -7.5% |
| GS GOLDMAN SACHS GROUP INC | Financials | 1.3K | $1.1M | 0.1% | -6.7% |
| XOM EXXON MOBIL CORP | Energy | 6.1K | $1.0M | 0.1% | Held |
| JNJ JOHNSON & JOHNSON | Healthcare | 3.5K | $860K | 0.1% | Held |
| GEV GE VERNOVA INC | Industrials | 980 | $855K | 0.1% | -14.5% |
| MS MORGAN STANLEY | Financials | 5.1K | $844K | 0.1% | Held |
| UI UBIQUITI INC | Technology | 1.1K | $836K | 0.1% | Held |
| MU MICRON TECHNOLOGY INC | Technology | 2.5K | $830K | 0.1% | -8.4% |
| AMD ADVANCED MICRO DEVICES | Technology | 3.7K | $759K | 0.1% | +5.7% |
| AON AON PLC-CLASS A | Financials | 2.3K | $746K | 0.1% | Held |
| RTX RTX CORP | Industrials | 3.4K | $659K | 0.1% | Held |
| COST COSTCO WHOLESALE CORP | Consumer discretionary | 653 | $651K | 0.1% | Held |
| MAR MARRIOTT INTERNATIONAL -CL A | Services media | 2.0K | $638K | 0.1% | Held |
| ASML ASML HOLDING NV-NY REG SHS | Industrials | 478 | $631K | 0.1% | Held |
| ORCL ORACLE CORP | Technology | 4.2K | $624K | 0.1% | -2.1% |
| CAT CATERPILLAR INC | Industrials | 858 | $608K | 0.1% | Held |
| C CITIGROUP INC | Financials | 5.4K | $607K | 0.1% | Held |
| WVE WAVE LIFE SCIENCES LTD | Healthcare | 77.6K | $563K | 0.0% | Held |
| WFC WELLS FARGO & CO | Financials | 6.7K | $537K | 0.0% | -2.3% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 12, 2026 | 152 | $1.20B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 10, 2026 | 156 | $1.33B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 5, 2025 | 144 | $1.31B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 1, 2025 | 54 | $1.31B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 6, 2025 | 51 | $871.3M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR/ANEW HOLDINGS | Feb 6, 2025 | 51 | $896.8M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 28, 2025 | 46 | $872.1M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR/ANEW HOLDINGS | Feb 7, 2025 | 52 | $861.3M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 25, 2024 | 48 | $855.0M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR/ANEW HOLDINGS | Feb 12, 2025 | 46 | $1.10B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Jul 23, 2024 | 44 | $1.10B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 10, 2024 | 43 | $1.09B | canonical | SEC ↗ |
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