a16z Perennial Management, L.P. In its 13F for Q3 2024 (holdings as of September 30, 2024, filed February 7, 2025), a16z Perennial Management, L.P. reported 41 stock positions worth $812.4 million . Its top holding was Coinbase Global at 38.8% of the portfolio, followed by Nu Holdings Ltd./Cayman Isl-A (NU, 24.1% ) and Bondbloxx BBG 6 MTH US Treas (XHLF, 8.6% ). Compared with Q2 2024, it opened 5 new positions, sold out of 5, added to 4 and reduced 9. The biggest buy was a new position in Coinbase Global and the biggest sale an exit from Coinbase Global Class A (COIN).
Location MENLO PARK, CA
CIK 0002009275
Portfolio Value $812.4M (Q3 2024) Holdings 41 stocks · $812.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2024 COINBASE GLOBAL INC 1,767,562 $314.9M New NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD 14,359,500 $196.0M Reduce -6.6% XHLF Bondbloxx BBG 6 MTH US Treas 1,392,000 $70.2M Reduce -8.7% ABNB Airbnb Inc. Class A 541,631 $68.7M Reduce -12.4% OKTA Okta Inc. 597,873 $44.4M No change CMF iShares California Muni Bond 226,366 $24.4M New VTEB Vanguard Tax-Exempt Bond ETF 435,683 $22.3M No change IOT Samsara Inc. Class A 229,586 $11.0M Add +8847.2% RBLX Roblox Corp. Class A 243,118 $10.8M Reduce -23.6% CART Maplebear Inc. 214,160 $8.7M Add +1054.0% MSFT Microsoft Corp. 17,712 $7.6M Reduce -11.5% AFRM Affirm Holdings Inc. 136,520 $5.6M Reduce -22.0% META Meta Platforms Inc. Class A 6,194 $3.5M No change PINS Pinterest Inc. Class A 98,473 $3.2M No change RDDT Reddit Inc. Class A 45,200 $3.0M New CRM Salesforce Inc. 9,628 $2.6M Reduce -28.8% LQD Ishr Ibx Usd Invgd CB ETF-Ui 19,876 $2.2M New HOOD Robinhood Markets Inc. Class A 88,871 $2.1M No change HYGH iShares Int Rate Hedg HY ETF 21,915 $1.9M Add +15.7% AMZN Amazon.com Inc. 9,520 $1.8M No change CLOZ Eldridge BBB-B Clo ETF 56,398 $1.5M Reduce -6.0% CRWD CrowdStrike Holdings Inc. Class A 4,438 $1.2M No change GOOGL Alphabet Inc. Class A 4,900 $815K Add +73.8% SPY SS SPDR S&P 500 ETF Trust-US 1,239 $711K No change WVE Wave Life Sciences Ltd. 77,619 $636K No change HYG Ishr Ibx Usd Hiyld CB ETF-Ui 7,600 $610K New NET Cloudflare Inc. Class A 7,040 $569K Reduce -5.4% NFLX Netflix Inc. 562 $399K No change WDAY Workday Inc. Class A 896 $219K No change RCKT Rocket Pharmaceuticals Inc. 11,335 $209K No change TEAM Atlassian Corp. Class A 1,117 $177K No change DOCN Digitalocean Holdings Inc. 3,088 $125K No change IVVD Invivyd Inc. 79,869 $81K No change CRIS Curis Inc. 6,653 $36K No change LYFT LYFT Inc. Class A 2,244 $29K No change OPEN Opendoor Technologies Inc. 4,422 $9K No change NOW ServiceNow Inc. 6 $5K No change BRK.B Berkshire Hathaway Inc. Class B 10 $5K No change SNOW Snowflake Inc. 28 $3K No change DIS The Walt Disney Co. filed as DISNEY WALT CO 22 $2K No change ROOT Root Inc./Oh Class A 10 $378 No change
Options reported separately and not counted above: ABNB puts ($18.6M), IOT puts ($11.0M), MSFT puts ($7.6M), COINBASE GLOBAL INC puts ($6.1M), AFRM puts ($2.5M), RDDT puts ($2.2M), CART puts ($847K).
Other holdings (1): bonds, preferreds, convertibles and warrants · $65K (not counted above) Security Class Shares / Principal Value Change ADVWW Advantage Solutions in-CW25 *W EXP 10/28/202 23,583 $65K Add +400.1%
Total filed on the 13F, all lines: $812.4M.
Portfolio Sells Q2 2024 → Q3 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▲ COIN Coinbase Global Inc. Class A Sold out 0.00% −44.29 MUB iShares National Muni Bond E Sold out 0.00% −2.53 ABNB Airbnb Inc. Class A Reduce -12.4% 8.45% −1.57 CRM Salesforce Inc. Reduce -28.8% 0.32% −0.05 GOOG Alphabet Inc. Class C Sold out 0.00% −0.04 VCEB Vanguard ESG US Corp. Bond Sold out 0.00% −0.02 MSFT Microsoft Corp. Reduce -11.5% 0.94% −0.02 ADV Advantage Solutions Inc. Sold out 0.00% −0.01 NET Cloudflare Inc. Class A Reduce -5.4% 0.07% +0.00 CLOZ Eldridge BBB-B Clo ETF Reduce -6.0% 0.19% +0.01 RBLX Roblox Corp. Class A Reduce -23.6% 1.32% +0.06 AFRM Affirm Holdings Inc. Reduce -22.0% 0.69% +0.12 XHLF Bondbloxx BBG 6 MTH US Treas Reduce -8.7% 8.64% +0.44 NU Nu Holdings Ltd./Cayman Isl-A Reduce -6.6% 24.13% +2.92
Portfolio Buys Q2 2024 → Q3 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▼ COINBASE GLOBAL INC New 38.77% +38.77 CMF iShares California Muni Bond New 3.00% +3.00 IOT Samsara Inc. Class A Add +8847.2% 1.36% +1.35 CART Maplebear Inc. Add +1054.0% 1.07% +1.01 RDDT Reddit Inc. Class A New 0.37% +0.37 LQD Ishr Ibx Usd Invgd CB ETF-Ui New 0.28% +0.28 HYG Ishr Ibx Usd Hiyld CB ETF-Ui New 0.08% +0.08 HYGH iShares Int Rate Hedg HY ETF Add +15.7% 0.23% +0.06 GOOGL Alphabet Inc. Class A Add +73.8% 0.10% +0.05
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ COIN Coinbase Global Inc. Class A put Sold out 566,000 $125.8Mbefore exit ABNB Airbnb Inc. Class A put Reduce -25.6% 146,500 $18.6M IOT Samsara Inc. Class A put New 229,400 $11.0M MSFT Microsoft Corp. put Add +77.0% 17,700 $7.6M COINBASE GLOBAL INC put New 473,500 $6.1M AFRM Affirm Holdings Inc. put Reduce -64.5% 60,300 $2.5M RDDT Reddit Inc. Class A put New 33,700 $2.2M CART Maplebear Inc. put New 20,800 $847K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2024 → Q3 2024 Security Class Change vs Q2 2024 Shares / Principal Value ▼ ADVWW Advantage Solutions in-CW25 *W EXP 10/28/202 Add +400.1% 23,583 $65K
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 61 $1.2B COIN, NU, IOT, VOO, AGG Q1 2026 142 $1.2B COIN, NU, IOT, XHLF, AVGO Q4 2025 143 $1.3B COIN, NU, XHLF, HOOD, IOT Q3 2025 134 $1.3B COINBASE GLOBAL INC, NU, HOOD, XHLF, SAMSARA INC Q2 2025 46 $1.2B COIN, NU, XHLF, ABNB, ROBINHOOD MKTS INC Q1 2025 44 $802.3M COIN, NU, XHLF, ABNB, OKTA Q4 2024 Amended 44 $861.1M COIN, NU, ABNB, OKTA, ROBINHOOD MKTS INC Q3 2024 Amended 41 $812.4M COINBASE GLOBAL INC, NU, XHLF, ABNB, OKTA Q2 2024 Amended 41 $934.6M COIN, NU, ABNB, XHLF, OKTA Q1 2024 39 $1.1B COIN, NU HLDGS LTD, ABNB, XHLF, OKTA