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

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $429.7M Q1 2024 Q2 2024: $445.9M Q2 2024 Q4 2024: $459.4M Q4 2024 Q1 2025: $500.9M Q1 2025 Q2 2025: $537.8M $537.8M Q2 2025 Q3 2025: $576.9M Q3 2025 Q4 2025: $596.4M Q4 2025 Q1 2026: $582.6M Q1 2026 Q2 2026: $643.2M Q2 2026

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
NBIS Nebius Group NV 0.05% 5,130 $284K New
PANW Palo Alto Networks Inc. 0.05% 1,380 $282K No change
TSLA Tesla Inc. 0.05% 861 $274K No change
WMB Williams Cos Inc. 0.05% 4,145 $260K No change
APO Apollo Global Management Inc. 0.05% 1,800 $255K New
SPGM State Street SPDR Portfolio 0.05% 3,600 $248K New
VGK Vanguard Ftse Europe ETF 0.05% 3,174 $246K New
SMHI Seacor Marine Holdings Inc. 0.04% 46,038 $235K No change
VTOL Bristow Group Inc. 0.04% 7,025 $232K No change
BLK BlackRock Inc. 0.04% 217 $228K Reduce -17.2%
AEVA Aeva Technologies Inc. 0.04% 6,000 $227K New
LMT Lockheed Martin Corp. 0.04% 489 $226K Reduce -3.5%
HPE Hewlett Packard Enterprise 0.04% 11,030 $226K No change
BA The Boeing Co. 0.04% 1,071 $224K New
MMM 3M Co. 0.04% 1,451 $221K Reduce -5.3%
BWXT BWX Technologies Inc. 0.04% 1,530 $220K New
STT State Street Corp. 0.04% 1,998 $212K New
SCHD Schwab US DVD Equity ETF 0.04% 7,850 $208K Reduce -11.3%
STGW Stagwell Inc. 0.03% 30,000 $135K Reduce -5.5%
WBD Warner Bros Discovery Inc. 0.02% 11,209 $128K New
ASPI Asp Isotopes Inc. 0.02% 15,000 $110K New
CHPT Chargepoint Holdings Inc. 0.00% 23,870 $17K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $496K (not counted above)
SecurityClassShares / PrincipalValueChange
QQQ Invesco QQQ Trust Series 1 UNIT SER 1 · principal 900$496KNo 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

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 136$643.2MAAPL, GOOG, MSFT, APH, NVDA
Q1 2026 122$582.6MAAPL, MSFT, GOOG, BRK.A, NVDA
Q4 2025 127$596.4MMSFT, AAPL, GOOG, BRK.A, NVDA
Q3 2025 126$576.9MMSFT, AAPL, NVDA, BRK.A, GOOG
Q2 2025 122$537.8MMSFT, AAPL, BRK.A, NVDA, AMZN
Q1 2025 112$500.9MMSFT, AAPL, BRK.A, AMZN, FISV
Q4 2024 76$459.4MMSFT, AAPL, NVDA, AMZN, GOOG
Q2 2024 111$445.9MMSFT, AAPL, NVDA, GOOG, AMZN
Q1 2024 110$429.7MMSFT, AAPL, AMZN, GOOG, NVDA