a16z Perennial Management, L.P.
Q4 2025 13F-HR Holdings
Net value change ($000)
+24,076
(1.8%)
New positions
24
Sold out positions
15
Turnover %
93.1%
Sector allocation + QoQ delta (equities-only)
Snapshot: Change Analysis
Compared to Q3 2025
Methodology:
sector metrics are equities-only;
instrument mix chart is ex-options;
options exposure is shown separately.
Why this matters.
Top Adds (Value $000, Stocks/ETFs)
| COIN | 330,426 | NEW |
| IOT | 58,923 | NEW |
| ABNB | 43,412 | NEW |
| VTI | 41,944 | NEW |
| IVV | 30,726 | 11464.9% |
| AVGO | 28,864 | 136.6% |
| VEA | 20,662 | 706.2% |
| RVMD | 14,569 | NEW |
| META | 14,366 | 57.1% |
| JAAA | 11,990 | NEW |
Top Reduces (Value $000, Stocks/ETFs)
| COINBASE GLOBAL INC | -493,356 | -100.0% |
| SAMSARA INC | -68,476 | -100.0% |
| AIRBNB INC | -42,210 | -100.0% |
| OKTA | -22,315 | -40.7% |
| HOOD | -21,380 | -24.1% |
| DIGITALOCEAN HLDGS INC | -18,049 | -100.0% |
| PINTEREST INC | -7,981 | -100.0% |
| VOO | -7,112 | -100.0% |
| RBLX | -6,525 | -41.5% |
| DASH | -968 | -23.7% |
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000):
70,616
(5.3% of total reported value)
How this table is calculated:
SEC
VALUE ($000) is used as reported.
For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received.
Column % is bucket-based:
non-options share is calculated inside non-option total, options share is calculated inside options total.
Details.
Filter:
Instrument:
| Issuer Name | Ticker | Sector | Industry | Class | History | Value ($000) | % | Shares | Shares Δ | Shares Δ% | Value Δ ($000) | Value Δ% | Principal | Option Type |
|---|