a16z Perennial Management, L.P.

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CIK 2009275

13F portfolio (2026-Q1)

$1.2B

Positions

142

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

142

Top 5

63.3%

Top 10

78.3%

Effective N

9.1

HHI

0.110

This quarter

20 new · 0 exit →

By sector

Financials45.2%

Information Technology25.0%

Unclassified19.2%

Communication Services4.0%

Industrials3.7%

Health Care1.4%

Consumer Discretionary0.9%

Energy0.2%

Other0.4%

By market cap

Large ($10–200B)49.7%

Unknown36.2%

Mega (>$200B)13.9%

Small ($300M–2B)0.2%

Micro (<$300M)0.0%

By region

North America63.9%

Other19.2%

Latin America16.6%

Europe0.2%

Asia-Pacific0.1%

Middle East0.0%

By industry group GICS — finer than sector

Industry group	Weight	Names
Banks	41.73%	17
Unclassified	19.39%	15
Software & IT Services	19.32%	6
Semiconductors & Semiconductor Equipment	4.47%	7
Software	3.50%	10
Commercial Services & Supplies	3.40%	6
Capital Markets	3.05%	5
Pharmaceuticals & Biotechnology	1.24%	11
Technology Hardware & Equipment	0.69%	5
Specialty Retail	0.66%	6
Entertainment	0.54%	1
Oil, Gas & Consumable Fuels	0.24%	7
Health Care Providers & Services	0.20%	1
Machinery	0.18%	5
Automobiles & Components	0.17%	3
Electrical Equipment & Components	0.16%	2
Media & Entertainment	0.14%	2
Insurance	0.12%	3
Hotels, Restaurants & Leisure	0.11%	3
Utilities	0.10%	5
Aerospace & Defense	0.10%	3
Chemicals	0.09%	4
Communications Equipment	0.07%	1
Beverages	0.06%	2
Tobacco	0.05%	2
Metals & Mining	0.04%	2
Food Products	0.04%	2
Equity Real Estate Investment Trusts (REITs)	0.04%	2
Diversified Telecommunication Services	0.04%	2
Construction & Engineering	0.03%	1
Transportation Infrastructure	0.02%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	COIN	Coinbase Global, Inc.	Financials	21.37%
2	NU	NU HOLDINGS CLASS A	Financials	16.57%
3	IOT	Samsara Inc.	Information Technology	15.79%
4	XHLF	BONDBLOXX ETF TRUST	Unclassified	5.83%
5	AVGO	Broadcom Inc.	Information Technology	3.70%
6	VOO	VANGUARD INDEX FDS	Unclassified	3.44%
7	ABNB	Airbnb, Inc.	Industrials	3.15%
8	AXP	AMERICAN EXPRESS CO	Financials	2.94%
9	HOOD	Robinhood Markets, Inc.	Financials	2.85%
10	AGG	ISHARES TR	Unclassified	2.65%

128/142 names classified · sector 80.8% of weight · industry 80.6% · mkt cap 63.8%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 10 quarters

FinancialsCOIN, NU, HOOD, AFRM, AXP · other

Information TechnologyOKTA, IOT, AVGO, MSFT, CRM · other

IndustrialsABNB, CART, DASH, RTX, ASML · other

Communication ServicesMETA, GOOG, DIS, NFLX, GOOGL · other

Health CareRVMD, WVE, OMDA, LLY, JNJ · other

Consumer DiscretionaryAMZN, TSLA, WMT, COST, MAR · other

EnergyXOM, CVX, PSX, COP, TTE · other

MaterialsPG, HWM, CL, UL, DD · other

Consumer StaplesKO, PM, BTI, PEP, BG · other

UtilitiesDUK, FE, KMI, OKE, NEE · other

Real EstateAMT, SPG, OPEN

UnclassifiedCOINBASE GLOBAL INC, XHLF, NU HLDGS LTD, SAMSARA INC, ROBINHOOD MKTS INC · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 80.8% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

Only 43% of book weight classified — the grid is NOT representative of the whole book.

holdings, colored by sector (99 classified)a16z Perennial Management, L.P. centroid (Mid Growth)

FinancialsInformation TechnologyCommunication ServicesConsumer DiscretionaryIndustrialsHealth CareEnergyConsumer StaplesMaterialsUtilitiesReal Estate

Style box summary for a16z Perennial Management, L.P.: centroid Mid Growth. Heaviest cells: Mid Growth 24.2%, Large Growth 12.8%, Large Core 4.0%.

Classified: 42.8% of book weight (99/142 names) · unclassified 57.2%: NU, IOT, XHLF, VOO, ABNB, AGG, IVV, VEA, VTI, JAAA +33 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 142 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	COINCOINBASE GLOBAL INC	1,470,995	$257M	21.4%	HOLD
2	NUNU HLDGS LTD	13,858,300	$199M	16.6%	HOLD
3	IOTSAMSARA INC	5,989,876	$190M	15.8%	ADD 260%
4	XHLFBONDBLOXX ETF TRUST	1,392,000	$70M	5.8%	HOLD
5	AVGOBROADCOM INC	143,531	$44M	3.7%	HOLD
6	VOOVANGUARD INDEX FDS	69,192	$41M	3.4%	NEW
7	ABNBAIRBNB INC	299,493	$38M	3.1%	TRIM −6%
8	AXPAMERICAN EXPRESS CO	116,708	$35M	2.9%	ADD 17114%
9	HOODROBINHOOD MKTS INC	494,352	$34M	2.9%	TRIM −17%
10	AGGISHARES TR	321,231	$32M	2.7%	NEW
11	METAMETA PLATFORMS INC	55,136	$32M	2.6%	TRIM −8%
12	IVVISHARES TR	45,250	$30M	2.5%	HOLD
13	OKTAOKTA INC	335,780	$26M	2.2%	TRIM −11%
14	VEAVANGUARD TAX-MANAGED FDS	377,003	$24M	2.0%	HOLD
15	VTIVANGUARD INDEX FDS	44,959	$14M	1.2%	TRIM −57%
16	JAAAJANUS DETROIT STR TR	237,152	$12M	1.0%	HOLD
17	RVMDREVOLUTION MEDICINES INC	104,214	$10M	0.8%	TRIM −43%
18	AAPLAPPLE INC	25,820	$7M	0.5%	ADD 4%
19	DISDISNEY WALT CO	67,804	$7M	0.5%	HOLD
20	NVDANVIDIA CORPORATION	37,215	$6M	0.5%	TRIM −6%
21	RBLXROBLOX CORP	113,394	$6M	0.5%	HOLD
22	AMZNAMAZON COM INC	24,069	$5M	0.4%	HOLD
23	AFRMAFFIRM HLDGS INC	103,220	$5M	0.4%	HOLD
24	MSFTMICROSOFT CORP	11,151	$4M	0.3%	HOLD
25	GOOGLALPHABET INC	13,980	$4M	0.3%	NEW
26	GOOGALPHABET INC	11,968	$3M	0.3%	TRIM −56%
27	GOVTISHARES TR	108,847	$2M	0.2%	NEW
28	OMDAOMADA HEALTH INC	192,466	$2M	0.2%	ADD 22%
29	CRWDCROWDSTRIKE HLDGS INC	5,736	$2M	0.2%	ADD 3%
30	BRK.BBERKSHIRE HATHAWAY INC DEL	4,623	$2M	0.2%	HOLD
31	BITBBITWISE BITCOIN ETF TR	50,502	$2M	0.2%	HOLD
32	PINSPINTEREST INC	99,833	$2M	0.2%	TRIM −60%
33	DOCNDIGITALOCEAN HLDGS INC	18,552	$2M	0.1%	TRIM −87%
34	CARTMAPLEBEAR INC	41,240	$2M	0.1%	TRIM −12%
35	TSLATESLA INC	3,928	$1M	0.1%	TRIM −9%
36	NFLXNETFLIX INC	14,560	$1M	0.1%	TRIM −8%
37	WMTWALMART INC	10,657	$1M	0.1%	TRIM −6%
38	PLTRPALANTIR TECHNOLOGIES INC	7,954	$1M	0.1%	TRIM −13%
39	LLYELI LILLY & CO	1,238	$1M	0.1%	TRIM −10%
40	JPMJPMORGAN CHASE & CO	3,789	$1M	0.1%	HOLD
41	GEGE AEROSPACE	3,918	$1M	0.1%	TRIM −8%
42	GSGOLDMAN SACHS GROUP INC	1,273	$1M	0.1%	TRIM −7%
43	DFACDIMENSIONAL ETF TRUST	26,550	$1M	0.1%	HOLD
44	XOMEXXON MOBIL CORP	6,074	$1M	0.1%	HOLD
45	JNJJOHNSON & JOHNSON	3,519	$860,184	0.1%	HOLD
46	GEVGE VERNOVA INC	980	$855,442	0.1%	TRIM −14%
47	MSMORGAN STANLEY	5,130	$844,244	0.1%	HOLD
48	UIUBIQUITI INC	1,058	$836,127	0.1%	HOLD
49	MUMICRON TECHNOLOGY INC	2,458	$830,411	0.1%	TRIM −8%
50	SPYSTATE STR SPDR S&P 500 ETF T	1,239	$805,771	0.1%	HOLD
51	IAUMISHARES GOLD TR	17,077	$797,496	0.1%	HOLD
52	AMDADVANCED MICRO DEVICES INC	3,730	$758,794	0.1%	ADD 6%
53	AONAON PLC	2,310	$745,622	0.1%	HOLD
54	RTXRTX CORPORATION	3,418	$659,332	0.1%	HOLD
55	COSTCOSTCO WHSL CORP NEW	653	$650,669	0.1%	HOLD
56	MARMARRIOTT INTL INC NEW	1,951	$638,114	0.1%	HOLD
57	ASMLASML HOLDING N V	478	$631,357	0.1%	HOLD
58	ORCLORACLE CORP	4,239	$623,599	0.1%	TRIM −2%
59	CATCATERPILLAR INC	858	$607,859	0.1%	HOLD
60	CCITIGROUP INC	5,351	$606,857	0.1%	HOLD
61	WVEWAVE LIFE SCIENCES LTD	77,619	$562,738	0.0%	HOLD
62	WFCWELLS FARGO CO NEW	6,747	$537,129	0.0%	TRIM −2%
63	CVXCHEVRON CORP NEW	2,575	$532,768	0.0%	HOLD
64	AMATAPPLIED MATLS INC	1,512	$516,786	0.0%	TRIM −11%
65	KOCOCA COLA CO	6,787	$516,151	0.0%	HOLD
66	UNHUNITEDHEALTH GROUP INC	1,879	$508,439	0.0%	HOLD
67	GILDGILEAD SCIENCES INC	3,640	$507,307	0.0%	HOLD
68	KLACKLA CORP	344	$506,509	0.0%	TRIM −8%
69	COFCAPITAL ONE FINL CORP	2,756	$502,777	0.0%	TRIM −3%
70	HSBCHSBC HLDGS PLC	6,052	$499,229	0.0%	TRIM −11%
71	VVISA INC	1,602	$484,188	0.0%	HOLD
72	PGPROCTER AND GAMBLE CO	3,327	$480,552	0.0%	HOLD
73	WDCWESTERN DIGITAL CORP	1,771	$479,038	0.0%	TRIM −12%
74	ADIANALOG DEVICES INC	1,469	$467,348	0.0%	HOLD
75	DASHDOORDASH INC	2,990	$448,949	0.0%	TRIM −78%
76	ETNEATON CORP PLC	1,238	$442,795	0.0%	HOLD
77	MRKMERCK & CO INC	3,612	$434,487	0.0%	HOLD
78	HDHOME DEPOT INC	1,287	$423,281	0.0%	HOLD
79	PMPHILIP MORRIS INTL INC	2,546	$420,956	0.0%	HOLD
80	BNYBANK NEW YORK MELLON CORP	3,547	$420,781	0.0%	HOLD
81	HLTHILTON WORLDWIDE HLDGS INC	1,356	$412,332	0.0%	HOLD
82	NVSNOVARTIS AG	2,618	$399,900	0.0%	HOLD
83	CRMSALESFORCE INC	2,117	$395,180	0.0%	HOLD
84	AZNASTRAZENECA PLC	1,993	$393,059	0.0%	NEW
85	SNDKSANDISK CORP	590	$374,851	0.0%	NEW
86	ANETARISTA NETWORKS INC	3,024	$371,287	0.0%	TRIM −8%
87	MAMASTERCARD INCORPORATED	724	$361,754	0.0%	HOLD
88	MUFGMITSUBISHI UFJ FINANCIAL GRO	21,108	$358,203	0.0%	HOLD
89	GMGENERAL MTRS CO	4,636	$345,382	0.0%	HOLD
90	ETHWBITWISE ETHEREUM ETF	22,197	$332,955	0.0%	HOLD
91	COPCONOCOPHILLIPS	2,505	$330,660	0.0%	HOLD
92	PSXPHILLIPS 66	1,815	$330,657	0.0%	HOLD
93	PWRQUANTA SVCS INC	584	$320,628	0.0%	TRIM −8%
94	CMCSACOMCAST CORP NEW	10,959	$314,633	0.0%	HOLD
95	HWMHOWMET AEROSPACE INC	1,321	$304,438	0.0%	HOLD
96	NOCNORTHROP GRUMMAN CORP	440	$300,186	0.0%	HOLD
97	TJXTJX COS INC NEW	1,852	$295,764	0.0%	HOLD
98	TXNTEXAS INSTRS INC	1,509	$292,957	0.0%	HOLD
99	TPLTEXAS PACIFIC LAND CORPORATI	615	$291,854	0.0%	NEW
100	PFEPFIZER INC	10,118	$284,113	0.0%	HOLD
101	MCDMCDONALDS CORP	905	$281,265	0.0%	HOLD
102	SANBANCO SANTANDER S.A.	23,859	$269,130	0.0%	TRIM −21%
103	CLCOLGATE PALMOLIVE CO	3,156	$268,986	0.0%	HOLD
104	CMFISHARES TR	4,710	$267,811	0.0%	NEW
105	TTETotalEnergies SE	2,906	$264,388	0.0%	NEW
106	CMICUMMINS INC	490	$263,630	0.0%	HOLD
107	EBAYEBAY INC.	2,886	$262,684	0.0%	HOLD
108	NOWSERVICENOW INC	2,475	$258,761	0.0%	NEW
109	TMTOYOTA MOTOR CORP	1,226	$252,666	0.0%	HOLD
110	CLOZSERIES PORTFOLIOS TR	9,850	$252,653	0.0%	NEW
111	BBVABANCO BILBAO VIZCAYA ARGENTA	11,614	$251,559	0.0%	TRIM −12%
112	SMFGSUMITOMO MITSUI FINL GROUP I	12,699	$250,805	0.0%	HOLD
113	KMIKINDER MORGAN INC DEL	7,243	$242,858	0.0%	NEW
114	DUKDUKE ENERGY CORP NEW	1,847	$241,846	0.0%	HOLD
115	INTUINTUIT	550	$237,809	0.0%	HOLD
116	BGBUNGE GLOBAL SA	1,852	$235,574	0.0%	NEW
117	OKEONEOK INC NEW	2,606	$235,556	0.0%	NEW
118	AIGAMERICAN INTL GROUP INC	3,124	$235,081	0.0%	HOLD
119	LRCXLAM RESEARCH CORP	1,100	$235,026	0.0%	TRIM −15%
120	PEPPEPSICO INC	1,498	$232,624	0.0%	HOLD
121	SLBSCHLUMBERGER LTD	4,478	$230,124	0.0%	NEW
122	LOWLOWES COS INC	973	$229,900	0.0%	HOLD
123	NEENEXTERA ENERGY INC	2,460	$228,485	0.0%	NEW
124	FEFIRSTENERGY CORP	4,496	$227,767	0.0%	HOLD
125	CBOECBOE GLOBAL MKTS INC	803	$225,699	0.0%	HOLD
126	TMUST-MOBILE US INC	1,054	$221,372	0.0%	HOLD
127	BTIBRITISH AMERN TOB PLC	3,786	$221,367	0.0%	HOLD
128	UBSUBS GROUP AG	5,648	$220,667	0.0%	TRIM −8%
129	ULUNILEVER PLC	3,790	$215,916	0.0%	HOLD
130	AMTAMERICAN TOWER CORP	1,237	$213,481	0.0%	HOLD
131	EENI S P A	3,701	$209,514	0.0%	NEW
132	SPGSIMON PPTY GROUP INC NEW	1,123	$209,473	0.0%	HOLD
133	HSYHERSHEY CO	1,007	$209,345	0.0%	NEW
134	EXPDEXPEDITORS INTL WASH INC	1,458	$208,829	0.0%	HOLD
135	HIIHUNTINGTON INGALLS INDS INC	540	$205,146	0.0%	NEW
136	CDNSCADENCE DESIGN SYSTEM INC	730	$202,845	0.0%	HOLD
137	STLDSTEEL DYNAMICS INC	1,126	$202,680	0.0%	TRIM −9%
138	TAT&T INC	6,939	$201,162	0.0%	NEW
139	MFGMIZUHO FINANCIAL GROUP INC	17,819	$141,483	0.0%	TRIM −38%
140	IVVDINVIVYD INC	79,869	$103,830	0.0%	HOLD
141	ICLICL GROUP LTD	12,896	$66,801	0.0%	HOLD
142	RCKTROCKET PHARMACEUTICALS INC	11,335	$40,579	0.0%	HOLD

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

COINCOINBASE GLOBAL INC

3.3M

1.6M

1.5M

—

1.5M

$257M

NUNU HLDGS LTD

30.6M

15.9M

15.6M

14.1M

13.7M

13.9M

$199M

IOTSAMSARA INC

—

1.7M

6.0M

$190M

XHLFBONDBLOXX ETF TRUST

—

1.4M

$70M

AVGOBROADCOM INC

—

64K

144K

$44M

VOOVANGUARD INDEX FDS

—

22K

—

69K

$41M

ABNBAIRBNB INC

1.1M

541K

517K

—

320K

299K

$38M

AXPAMERICAN EXPRESS CO

—

616

678

117K

$35M

HOODROBINHOOD MKTS INC

—

619K

594K

494K

$34M

AGGISHARES TR

—

321K

$32M

METAMETA PLATFORMS INC

12K

34K

60K

55K

$32M

IVVISHARES TR

33K

414K

45K

$30M

OKTAOKTA INC

1.2M

598K

376K

336K

$26M

VEAVANGUARD TAX-MANAGED FDS

—

49K

378K

377K

$24M

VTIVANGUARD INDEX FDS

—

17K

—

105K

45K

$14M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆a16z Perennial Management, L.P.