a16z Perennial Management, L.P.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 10, 2024), a16z Perennial Management, L.P. reported 39 stock positions worth $1.1 billion. Its top holding was Coinbase Global Class A (COIN) at 46.9% of the portfolio, followed by Nu (18.3%) and Airbnb Class A (ABNB, 11.2%). Compared with Q4 2023, it opened 5 new positions, sold out of 4, added to 2 and reduced 6. The biggest buy was Coinbase Global Class A (COIN, shares +123%) and the biggest sale Airbnb Class A (ABNB, shares −21%).

Most Recent 13F
Q2 2026
Location
MENLO PARK, CA
CIK
0002009275
Portfolio Value
$1.1B (Q1 2024)
SEC Filing
0002009275-24-000003 ↗ filed May 10, 2024

Holdings Value

0$500.0M$1.0B$1.5B Q1 2024: $1.1B $1.1B Q1 2024 Q2 2024: $934.6M Q2 2024 Q3 2024: $812.4M Q3 2024 Q4 2024: $861.1M Q4 2024 Q1 2025: $802.3M Q1 2025 Q2 2025: $1.2B Q2 2025 Q3 2025: $1.3B Q3 2025 Q4 2025: $1.3B Q4 2025 Q1 2026: $1.2B Q1 2026 Q2 2026: $1.2B Q2 2026

Holdings 39 stocks · $1.1B
COIN Coinbase Global Inc. Class A 46.90% 1,893,137 $501.9M Add +123.0%
NU HLDGS LTD 18.29% 16,409,100 $195.8M New
ABNB Airbnb Inc. Class A 11.16% 724,241 $119.5M Reduce -21.0%
XHLF Bondbloxx BBG 6 MTH US Treas 8.67% 1,843,847 $92.8M Reduce -14.1%
OKTA Okta Inc. 5.84% 597,873 $62.5M No change
MUB iShares National Muni Bond E 2.23% 221,667 $23.9M Reduce -3.0%
VTEB Vanguard Tax-Exempt Bond ETF 2.06% 435,683 $22.0M No change
ROBLOX CORP 1.15% 320,924 $12.3M Reduce -1.0%
MSFT Microsoft Corp. 0.79% 20,012 $8.4M Reduce -48.7%
AFRM Affirm Holdings Inc. 0.67% 192,535 $7.2M Add +754.4%
CRM Salesforce Inc. 0.38% 13,528 $4.1M Reduce -68.0%
PINS Pinterest Inc. Class A 0.32% 98,473 $3.4M No change
DOCN Digitalocean Holdings Inc. 0.31% 85,580 $3.3M No change
META Meta Platforms Inc. Class A 0.28% 6,194 $3.0M New
HOOD Robinhood Markets Inc. Class A 0.17% 88,871 $1.8M No change
AMZN Amazon.com Inc. 0.16% 9,520 $1.7M No change
CRWD CrowdStrike Holdings Inc. Class A 0.13% 4,438 $1.4M No change
GOOGL Alphabet Inc. Class A 0.08% 5,740 $870K New
NET Cloudflare Inc. Class A 0.07% 7,440 $720K New
SPY SS SPDR S&P 500 ETF Trust-US 0.06% 1,239 $648K No change
ASAN Asana Inc. Class A 0.06% 39,465 $611K No change
WVE Wave Life Sciences Ltd. 0.04% 77,619 $479K No change
IVVD Invivyd Inc. 0.03% 79,869 $355K No change
NFLX Netflix Inc. 0.03% 562 $341K No change
RCKT Rocket Pharmaceuticals Inc. 0.03% 11,335 $305K No change
WDAY Workday Inc. Class A 0.02% 896 $244K No change
TEAM Atlassian Corp. Class A 0.02% 1,117 $218K No change
PD Pagerduty Inc. 0.01% 6,403 $145K No change
IOT Samsara Inc. Class A 0.01% 2,566 $97K No change
CRIS Curis Inc. 0.01% 6,653 $72K No change
BOX Box Inc. Class A 0.01% 1,874 $53K No change
LYFT LYFT Inc. Class A 0.00% 2,244 $43K No change
OPEN Opendoor Technologies Inc. 0.00% 5,988 $18K No change
CART Maplebear Inc. 0.00% 222 $8K New
NOW ServiceNow Inc. 0.00% 6 $5K No change
SNOW Snowflake Inc. 0.00% 28 $5K No change
BRK.B Berkshire Hathaway Inc. Class B 0.00% 10 $4K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.00% 22 $3K No change
ROOT Root Inc./Oh Class A 0.00% 10 $611 No change

Options reported separately and not counted above: XHLF puts ($12.5M), LYFT puts ($10.4M).

Other holdings (1): bonds, preferreds, convertibles and warrants · $82K (not counted above)
SecurityClassShares / PrincipalValueChange
ADVWW Advantage Solutions in-CW25 *W EXP 10/28/202 18,867$82KReduce -20.0%

Total filed on the 13F, all lines: $1.1B.

Portfolio Sells Q4 2023 → Q1 2024
ABNB Airbnb Inc. Class A Reduce -21.0% 11.16% −9.97
XHLF Bondbloxx BBG 6 MTH US Treas Reduce -14.1% 8.67% −9.58
NU HLDGS LTD Sold out 0.00% −8.25
MUB iShares National Muni Bond E Reduce -3.0% 2.23% −2.01
MSFT Microsoft Corp. Reduce -48.7% 0.79% −1.70
CRM Salesforce Inc. Reduce -68.0% 0.38% −1.50
ROBLOX CORP Reduce -1.0% 1.15% −1.36
META PLATFORMS INC Sold out 0.00% −0.61
GOOG Alphabet Inc. Class C Sold out 0.00% −0.14
SPLK Splunk Inc. Sold out 0.00% −0.01

Portfolio Buys Q4 2023 → Q1 2024
COIN Coinbase Global Inc. Class A Add +123.0% 46.90% +21.90
NU HLDGS LTD New 18.29% +18.29
AFRM Affirm Holdings Inc. Add +754.4% 0.67% +0.48
META Meta Platforms Inc. Class A New 0.28% +0.28
GOOGL Alphabet Inc. Class A New 0.08% +0.08
NET Cloudflare Inc. Class A New 0.07% +0.07
CART Maplebear Inc. New 0.00% +0.00

Options Activity Q4 2023 → Q1 2024
ABNB Airbnb Inc. Class A put Sold out 441,200 $60.1Mbefore exit
XHLF Bondbloxx BBG 6 MTH US Treas put New 248,600 $12.5M
LYFT LYFT Inc. Class A put New 536,700 $10.4M
CRM Salesforce Inc. put Sold out 28,800 $7.6Mbefore exit
MSFT Microsoft Corp. put Sold out 19,000 $7.1Mbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q4 2023 → Q1 2024
ADVWW Advantage Solutions in-CW25 *W EXP 10/28/202 Reduce -20.0% 18,867 $82K

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 61$1.2BCOIN, NU, IOT, VOO, AGG
Q1 2026 142$1.2BCOIN, NU, IOT, XHLF, AVGO
Q4 2025 143$1.3BCOIN, NU, XHLF, HOOD, IOT
Q3 2025 134$1.3BCOINBASE GLOBAL INC, NU, HOOD, XHLF, SAMSARA INC
Q2 2025 46$1.2BCOIN, NU, XHLF, ABNB, ROBINHOOD MKTS INC
Q1 2025 44$802.3MCOIN, NU, XHLF, ABNB, OKTA
Q4 2024Amended 44$861.1MCOIN, NU, ABNB, OKTA, ROBINHOOD MKTS INC
Q3 2024Amended 41$812.4MCOINBASE GLOBAL INC, NU, XHLF, ABNB, OKTA
Q2 2024Amended 41$934.6MCOIN, NU, ABNB, XHLF, OKTA
Q1 2024 39$1.1BCOIN, NU HLDGS LTD, ABNB, XHLF, OKTA