Perennial Advisors, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 15, 2025), Perennial Advisors, LLC reported 122 stock positions worth $537.8 million. Its top holding was Microsoft (MSFT) at 6.8% of the portfolio, followed by Apple (AAPL, 4.6%) and Berkshire Hathaway Class A (BRK.A, 4.5%). Compared with Q1 2025, it opened 14 new positions, sold out of 4, added to 35 and reduced 54. The biggest buy was Meta Platforms Class A (META, shares +20%) and the biggest sale Apple (AAPL, shares −2%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001697360
- Portfolio Value
- $537.8M (Q2 2025)
- SEC Filing
- 0001697360-25-000003 ↗ filed Jul 15, 2025
Holdings Value
Holdings 122 stocks · $537.8M
| MSFT Microsoft Corp. | 6.80% | 73,575 | $36.6M | Reduce -3.1% |
| AAPL Apple Inc. | 4.63% | 121,295 | $24.9M | Reduce -2.2% |
| BRK.A Berkshire Hathaway Inc. Class A | 4.47% | 33 | $24.1M | No change |
| NVDA Nvidia Corp. | 4.09% | 139,211 | $22.0M | Reduce -1.7% |
| AMZN Amazon.com Inc. | 3.50% | 85,882 | $18.8M | Reduce -0.4% |
| APH Amphenol Corp. Class A | 3.27% | 178,107 | $17.6M | Reduce -2.2% |
| JPM JPMorgan Chase & Co. | 3.02% | 56,016 | $16.2M | Reduce -0.2% |
| GOOG Alphabet Inc. Class C | 2.98% | 90,428 | $16.0M | Reduce -0.8% |
| AXP American Express Co. | 2.88% | 48,494 | $15.5M | Reduce -0.0% |
| KKR KKR & Co. Inc. | 2.77% | 111,956 | $14.9M | Reduce -0.4% |
| MA Mastercard Inc. Class A | 2.55% | 24,437 | $13.7M | Reduce -4.6% |
| V Visa Inc. Class A | 2.44% | 37,022 | $13.1M | Reduce -3.0% |
| GLD SPDR Gold Shares | 2.44% | 43,054 | $13.1M | Reduce -1.2% |
| COST Costco Wholesale Corp. | 2.43% | 13,205 | $13.1M | Reduce -0.2% |
| FISV Fiserv Inc. | 2.36% | 73,598 | $12.7M | Add +1.0% |
| HON Honeywell International Inc. | 1.86% | 42,951 | $10.0M | Add +0.1% |
| META Meta Platforms Inc. Class A | 1.75% | 12,751 | $9.4M | Add +20.0% |
| JPST JPMorgan Ultra-Short Income | 1.69% | 179,543 | $9.1M | Reduce -5.9% |
| CSCO Cisco Systems Inc. | 1.68% | 130,104 | $9.0M | Reduce -0.3% |
| APD Air Products & Chemicals Inc. | 1.60% | 30,494 | $8.6M | Add +0.5% |
| FLOT iShares Floating Rate Bond E | 1.53% | 160,979 | $8.2M | Reduce -1.4% |
| UNP Union Pacific Corp. | 1.53% | 35,677 | $8.2M | Add +0.6% |
| MCD McDonald's Corp. | 1.47% | 27,021 | $7.9M | Add +0.3% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 1.42% | 61,667 | $7.6M | Add +0.6% |
| JNJ Johnson & Johnson | 1.41% | 49,810 | $7.6M | Reduce -0.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.40% | 12,144 | $7.5M | Add +8.8% |
| GD General Dynamics Corp. | 1.35% | 24,952 | $7.3M | Add +0.9% |
| TMO Thermo Fisher Scientific Inc. | 1.20% | 15,979 | $6.5M | Add +1.5% |
| XYL Xylem Inc. | 1.19% | 49,270 | $6.4M | Add +0.3% |
| VCSH Vanguard S/T Corp. Bond ETF | 1.18% | 79,784 | $6.3M | Reduce -0.9% |
| AWK American Water Works Co. Inc. | 1.16% | 44,744 | $6.2M | Reduce -0.1% |
| FDX FedEx Corp. | 1.12% | 26,547 | $6.0M | Add +0.5% |
| AMGN Amgen Inc. | 1.01% | 19,378 | $5.4M | Reduce -1.5% |
| VTI VG Morningstar TS MKT ETF-US | 0.98% | 17,374 | $5.3M | Reduce -2.4% |
| HD Home Depot Inc. | 0.96% | 14,127 | $5.2M | Reduce -0.4% |
| MDT Medtronic PLC | 0.95% | 58,596 | $5.1M | Reduce -1.4% |
| NVS Novartis AG-Sponsored ADR | 0.94% | 41,945 | $5.1M | Reduce -0.2% |
| SBUX Starbucks Corp. | 0.92% | 53,919 | $4.9M | Add +1.7% |
| MDLZ Mondelez International Inc. Class A | 0.90% | 72,124 | $4.9M | Add +0.1% |
| ARCC Ares Capital Corp. | 0.86% | 210,433 | $4.6M | Add +1.5% |
| USB US Bancorp | 0.85% | 101,585 | $4.6M | Add +1.9% |
| VZ Verizon Communications Inc. | 0.85% | 105,801 | $4.6M | Reduce -1.9% |
| ZTS Zoetis Inc. | 0.81% | 28,106 | $4.4M | Add +2.9% |
| AMAT Applied Materials Inc. | 0.75% | 22,063 | $4.0M | Add +0.8% |
| ADBE Adobe Inc. | 0.74% | 10,221 | $4.0M | Reduce -1.5% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.71% | 30,896 | $3.8M | Add +1.1% |
| PFF iShares Preferred & Income S | 0.69% | 121,612 | $3.7M | Reduce -1.4% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.69% | 72,672 | $3.7M | Reduce -4.4% |
| VCIT Vanguard Int-Term Corporate | 0.68% | 43,990 | $3.6M | Add +0.5% |
| FAST Fastenal Co. | 0.61% | 77,900 | $3.3M | Reduce -1.4% |
| LEA Lear Corp. | 0.59% | 33,483 | $3.2M | Reduce -1.5% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 0.59% | 43,408 | $3.2M | Add +129.9% |
| SHY iShares 1-3 Year Treasury Bo | 0.52% | 34,034 | $2.8M | Add +5.0% |
| VEA Vanguard Ftse Developed ETF | 0.45% | 42,423 | $2.4M | Add +3.8% |
| LRCX Lam Research Corp. | 0.45% | 24,650 | $2.4M | Reduce -4.1% |
| BKLN Invesco Senior Loan ETF | 0.43% | 110,805 | $2.3M | Reduce -2.8% |
| NKE Nike Inc. Class B | 0.43% | 32,325 | $2.3M | Add +5.4% |
| QQQ Invesco QQQ Trust Series 1 | 0.41% | 3,986 | $2.2M | Reduce -1.3% |
| GOOGL Alphabet Inc. Class A | 0.31% | 9,377 | $1.7M | Reduce -0.4% |
| ASML ASML Holding NV-NY Reg SHS | 0.25% | 1,697 | $1.4M | Add +6.6% |
| SHV iShares 0-1 Year Treasury Bo | 0.24% | 11,826 | $1.3M | Add +11.0% |
| DEO Diageo PLC-Sponsored ADR | 0.22% | 11,494 | $1.2M | Reduce -1.4% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.21% | 23,363 | $1.1M | Reduce -10.3% |
| XOM Exxon Mobil Corp. | 0.20% | 10,194 | $1.1M | Add +0.1% |
| KLAC KLA Corp. | 0.20% | 1,199 | $1.1M | No change |
| VOO Vanguard S&P 500 ETF | 0.20% | 1,877 | $1.1M | Reduce -0.2% |
| EXP Eagle Materials Inc. | 0.19% | 5,143 | $1.0M | Reduce -0.5% |
| GATX Gatx Corp. | 0.17% | 5,978 | $918K | Reduce -0.8% |
| SPTS SS SPDR P St Term TSY ETF | 0.16% | 30,000 | $879K | New |
| WFC Wells Fargo & Co. | 0.15% | 10,119 | $811K | Add +0.0% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.15% | 9,694 | $783K | Reduce -1.4% |
| VXF Vanguard Extended Market ETF | 0.14% | 3,873 | $746K | Add +1.6% |
| CVX Chevron Corp. | 0.14% | 5,095 | $730K | Reduce -1.7% |
| NFLX Netflix Inc. | 0.13% | 537 | $719K | Add +4.7% |
| SCHB Schwab US Broad Market ETF | 0.12% | 27,187 | $648K | Reduce -1.0% |
| JMUB JPMorgan Municipal ETF | 0.11% | 12,175 | $604K | Add +2.5% |
| TDG Transdigm Group Inc. | 0.11% | 390 | $593K | No change |
| PEP Pepsico Inc. | 0.11% | 4,330 | $572K | Add +0.1% |
| CRM Salesforce Inc. | 0.10% | 2,023 | $552K | Reduce -0.2% |
| ETN Eaton Corp. PLC | 0.10% | 1,514 | $540K | No change |
| CENX Century Aluminum Company | 0.10% | 29,368 | $529K | No change |
| SGOV iShares 0-3 Month Treasury B | 0.09% | 5,014 | $505K | New |
| FELG Fidelity Enh LRG Cap GWTH | 0.09% | 12,675 | $469K | No change |
| VT Vanguard Tot World STK ETF | 0.08% | 3,355 | $431K | No change |
| IWF iShares Russell 1000 Growth | 0.08% | 1,012 | $430K | Reduce -1.0% |
| CMCSA Comcast Corp. Class A | 0.08% | 12,012 | $429K | Reduce -13.6% |
| IBIT iShares Bitcoin Trust ETF | 0.08% | 6,960 | $426K | Add +3.0% |
| ADP Automatic Data Processing | 0.08% | 1,330 | $410K | Reduce -0.8% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.08% | 8,637 | $409K | No change |
| BKNG Booking Holdings Inc. | 0.07% | 67 | $388K | Reduce -2.9% |
| HPQ HP Inc. | 0.07% | 15,500 | $379K | No change |
| CMG Chipotle Mexican Grill Inc. | 0.07% | 6,667 | $374K | Add +3.1% |
| ROP Roper Technologies Inc. | 0.07% | 656 | $372K | Reduce -0.8% |
| XLF SS Financial Select Sector | 0.07% | 6,998 | $366K | Reduce -2.8% |
| SPSB SS SPDR P St C Corp. ETF | 0.07% | 11,685 | $353K | New |
| PG The Procter & Gamble Co. | 0.06% | 2,064 | $329K | Add +0.1% |
| MRK Merck & Co. Inc. | 0.06% | 4,124 | $326K | No change |
| AVGO Broadcom Inc. | 0.06% | 1,100 | $303K | New |
| T AT&T Inc. | 0.05% | 10,095 | $292K | No change |
| BX Blackstone Inc. | 0.05% | 1,917 | $287K | No change |
Other holdings (1): bonds, preferreds, convertibles and warrants · $496K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| QQQ Invesco QQQ Trust Series 1 | UNIT SER 1 · principal | 900 | $496K | No change |
Total filed on the 13F, all lines: $538.3M.
Portfolio Sells Q1 2025 → Q2 2025
| AAPL Apple Inc. | Reduce -2.2% | 4.63% | −0.87 |
| MA Mastercard Inc. Class A | Reduce -4.6% | 2.55% | −0.25 |
| JPST JPMorgan Ultra-Short Income | Reduce -5.9% | 1.69% | −0.24 |
| JNJ Johnson & Johnson | Reduce -0.0% | 1.41% | −0.23 |
| V Visa Inc. Class A | Reduce -3.0% | 2.44% | −0.23 |
| AMGN Amgen Inc. | Reduce -1.5% | 1.01% | −0.22 |
| AWK American Water Works Co. Inc. | Reduce -0.1% | 1.16% | −0.16 |
| FLOT iShares Floating Rate Bond E | Reduce -1.4% | 1.53% | −0.14 |
| VZ Verizon Communications Inc. | Reduce -1.9% | 0.85% | −0.13 |
| MDT Medtronic PLC | Reduce -1.4% | 0.95% | −0.12 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -0.9% | 1.18% | −0.09 |
| JMST JPM Ultra-Short Muni Income | Reduce -4.4% | 0.69% | −0.08 |
| VGSH Vanguard Short-Term Treasury | Sold out | 0.00% | −0.08 |
| HD Home Depot Inc. | Reduce -0.4% | 0.96% | −0.07 |
| COST Costco Wholesale Corp. | Reduce -0.2% | 2.43% | −0.07 |
| GLD SPDR Gold Shares | Reduce -1.2% | 2.44% | −0.07 |
| PFF iShares Preferred & Income S | Reduce -1.4% | 0.69% | −0.06 |
| ADBE Adobe Inc. | Reduce -1.5% | 0.74% | −0.06 |
| AGGY Wisdomtree Yield Enhanced US | Sold out | 0.00% | −0.06 |
| QIG Wisdomtree US Corporate Bond | Sold out | 0.00% | −0.05 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -10.3% | 0.21% | −0.05 |
| KMB Kimberly-Clark Corp. | Sold out | 0.00% | −0.04 |
| BKLN Invesco Senior Loan ETF | Reduce -2.8% | 0.43% | −0.04 |
| CVX Chevron Corp. | Reduce -1.7% | 0.14% | −0.04 |
| EXP Eagle Materials Inc. | Reduce -0.5% | 0.19% | −0.04 |
| DEO Diageo PLC-Sponsored ADR | Reduce -1.4% | 0.22% | −0.03 |
| CMCSA Comcast Corp. Class A | Reduce -13.6% | 0.08% | −0.02 |
| GATX Gatx Corp. | Reduce -0.8% | 0.17% | −0.02 |
| STGW Stagwell Inc. | Reduce -5.5% | 0.03% | −0.01 |
| SCHD Schwab US DVD Equity ETF | Reduce -11.3% | 0.04% | −0.01 |
| ROP Roper Technologies Inc. | Reduce -0.8% | 0.07% | −0.01 |
| LEA Lear Corp. | Reduce -1.5% | 0.59% | −0.01 |
| BLK BlackRock Inc. | Reduce -17.2% | 0.04% | −0.01 |
| CRM Salesforce Inc. | Reduce -0.2% | 0.10% | −0.01 |
| ADP Automatic Data Processing | Reduce -0.8% | 0.08% | −0.01 |
| MMM 3M Co. | Reduce -5.3% | 0.04% | −0.00 |
| XLF SS Financial Select Sector | Reduce -2.8% | 0.07% | −0.00 |
| FAST Fastenal Co. | Reduce -1.4% | 0.61% | −0.00 |
| LMT Lockheed Martin Corp. | Reduce -3.5% | 0.04% | −0.00 |
| SCHB Schwab US Broad Market ETF | Reduce -1.0% | 0.12% | +0.00 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -2.4% | 0.98% | +0.01 |
| VOO Vanguard S&P 500 ETF | Reduce -0.2% | 0.20% | +0.01 |
| IWF iShares Russell 1000 Growth | Reduce -1.0% | 0.08% | +0.01 |
| NVS Novartis AG-Sponsored ADR | Reduce -0.2% | 0.94% | +0.01 |
| BKNG Booking Holdings Inc. | Reduce -2.9% | 0.07% | +0.01 |
| EL Estee Lauder Companies Class A | Reduce -1.4% | 0.15% | +0.02 |
| GOOGL Alphabet Inc. Class A | Reduce -0.4% | 0.31% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -1.3% | 0.41% | +0.03 |
| CSCO Cisco Systems Inc. | Reduce -0.3% | 1.68% | +0.07 |
| LRCX Lam Research Corp. | Reduce -4.1% | 0.45% | +0.07 |
Portfolio Buys Q1 2025 → Q2 2025
| META Meta Platforms Inc. Class A | Add +20.0% | 1.75% | +0.53 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +129.9% | 0.59% | +0.34 |
| DIS The Walt Disney Co. | Add +0.6% | 1.42% | +0.21 |
| SPTS SS SPDR P St Term TSY ETF | New | 0.16% | +0.16 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +8.8% | 1.40% | +0.15 |
| AMAT Applied Materials Inc. | Add +0.8% | 0.75% | +0.12 |
| SGOV iShares 0-3 Month Treasury B | New | 0.09% | +0.09 |
| SPSB SS SPDR P St C Corp. ETF | New | 0.07% | +0.07 |
| AVGO Broadcom Inc. | New | 0.06% | +0.06 |
| NBIS Nebius Group NV | New | 0.05% | +0.05 |
| APO Apollo Global Management Inc. | New | 0.05% | +0.05 |
| HON Honeywell International Inc. | Add +0.1% | 1.86% | +0.05 |
| SPGM State Street SPDR Portfolio | New | 0.05% | +0.05 |
| VGK Vanguard Ftse Europe ETF | New | 0.05% | +0.05 |
| ASML ASML Holding NV-NY Reg SHS | Add +6.6% | 0.25% | +0.04 |
| AEVA Aeva Technologies Inc. | New | 0.04% | +0.04 |
| BA The Boeing Co. | New | 0.04% | +0.04 |
| BWXT BWX Technologies Inc. | New | 0.04% | +0.04 |
| STT State Street Corp. | New | 0.04% | +0.04 |
| NKE Nike Inc. Class B | Add +5.4% | 0.43% | +0.04 |
| NFLX Netflix Inc. | Add +4.7% | 0.13% | +0.04 |
| VEA Vanguard Ftse Developed ETF | Add +3.8% | 0.45% | +0.04 |
| WBD Warner Bros Discovery Inc. | New | 0.02% | +0.02 |
| ASPI Asp Isotopes Inc. | New | 0.02% | +0.02 |
| IBIT iShares Bitcoin Trust ETF | Add +3.0% | 0.08% | +0.02 |
| USB US Bancorp | Add +1.9% | 0.85% | +0.01 |
| XYL Xylem Inc. | Add +0.3% | 1.19% | +0.01 |
| SHV iShares 0-1 Year Treasury Bo | Add +11.0% | 0.24% | +0.01 |
| VXF Vanguard Extended Market ETF | Add +1.6% | 0.14% | +0.01 |
| GD General Dynamics Corp. | Add +0.9% | 1.35% | +0.01 |
| WFC Wells Fargo & Co. | Add +0.0% | 0.15% | +0.01 |
| CMG Chipotle Mexican Grill Inc. | Add +3.1% | 0.07% | +0.00 |
| JMUB JPMorgan Municipal ETF | Add +2.5% | 0.11% | −0.01 |
| PG The Procter & Gamble Co. | Add +0.1% | 0.06% | −0.01 |
| SHY iShares 1-3 Year Treasury Bo | Add +5.0% | 0.52% | −0.01 |
| PEP Pepsico Inc. | Add +0.1% | 0.11% | −0.02 |
| TJX TJX Companies Inc. | Add +1.1% | 0.71% | −0.03 |
| VCIT Vanguard Int-Term Corporate | Add +0.5% | 0.68% | −0.04 |
| XOM Exxon Mobil Corp. | Add +0.1% | 0.20% | −0.04 |
| ARCC Ares Capital Corp. | Add +1.5% | 0.86% | −0.06 |
| MDLZ Mondelez International Inc. Class A | Add +0.1% | 0.90% | −0.07 |
| ZTS Zoetis Inc. | Add +2.9% | 0.81% | −0.08 |
| SBUX Starbucks Corp. | Add +1.7% | 0.92% | −0.12 |
| UNP Union Pacific Corp. | Add +0.6% | 1.53% | −0.15 |
| FDX FedEx Corp. | Add +0.5% | 1.12% | −0.16 |
| APD Air Products & Chemicals Inc. | Add +0.5% | 1.60% | −0.19 |
| MCD McDonald's Corp. | Add +0.3% | 1.47% | −0.21 |
| TMO Thermo Fisher Scientific Inc. | Add +1.5% | 1.20% | −0.36 |
| FISV Fiserv Inc. | Add +1.0% | 2.36% | −0.85 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 136 | $643.2M | AAPL, GOOG, MSFT, APH, NVDA |
| Q1 2026 | 122 | $582.6M | AAPL, MSFT, GOOG, BRK.A, NVDA |
| Q4 2025 | 127 | $596.4M | MSFT, AAPL, GOOG, BRK.A, NVDA |
| Q3 2025 | 126 | $576.9M | MSFT, AAPL, NVDA, BRK.A, GOOG |
| Q2 2025 | 122 | $537.8M | MSFT, AAPL, BRK.A, NVDA, AMZN |
| Q1 2025 | 112 | $500.9M | MSFT, AAPL, BRK.A, AMZN, FISV |
| Q4 2024 | 76 | $459.4M | MSFT, AAPL, NVDA, AMZN, GOOG |
| Q2 2024 | 111 | $445.9M | MSFT, AAPL, NVDA, GOOG, AMZN |
| Q1 2024 | 110 | $429.7M | MSFT, AAPL, AMZN, GOOG, NVDA |