Perennial Advisors, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 14, 2025), Perennial Advisors, LLC reported 126 stock positions worth $576.9 million. Its top holding was Microsoft (MSFT) at 6.6% of the portfolio, followed by Apple (AAPL, 5.4%) and Nvidia (NVDA, 4.4%). Compared with Q2 2025, it opened 10 new positions, sold out of 6, added to 52 and reduced 38. The biggest buy was Apple (AAPL, shares +0%) and the biggest sale Honeywell International (HON, shares −0%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001697360
Portfolio Value
$576.9M (Q3 2025)
SEC Filing
0001697360-25-000006 ↗ filed Oct 14, 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 Q2 2025 Q3 2025: $576.9M $576.9M Q3 2025 Q4 2025: $596.4M Q4 2025 Q1 2026: $582.6M Q1 2026 Q2 2026: $643.2M Q2 2026

Holdings 126 stocks · $576.9M
MSFT Microsoft Corp. 6.62% 73,682 $38.2M Add +0.1%
AAPL Apple Inc. 5.36% 121,443 $30.9M Add +0.1%
NVDA Nvidia Corp. 4.44% 137,154 $25.6M Reduce -1.5%
BRK.A Berkshire Hathaway Inc. Class A 4.31% 33 $24.9M No change
GOOG Alphabet Inc. Class C 3.81% 90,250 $22.0M Reduce -0.2%
APH Amphenol Corp. Class A 3.77% 175,841 $21.8M Reduce -1.3%
AMZN Amazon.com Inc. 3.29% 86,345 $19.0M Add +0.5%
JPM JPMorgan Chase & Co. 3.06% 55,940 $17.6M Reduce -0.1%
AXP American Express Co. 2.79% 48,414 $16.1M Reduce -0.2%
GLD SPDR Gold Shares 2.64% 42,802 $15.2M Reduce -0.6%
KKR KKR & Co. Inc. 2.53% 112,210 $14.6M Add +0.2%
MA Mastercard Inc. Class A 2.41% 24,424 $13.9M Reduce -0.1%
V Visa Inc. Class A 2.19% 37,001 $12.6M Reduce -0.1%
COST Costco Wholesale Corp. 2.13% 13,251 $12.3M Add +0.3%
META Meta Platforms Inc. Class A 2.08% 16,362 $12.0M Add +28.3%
FISV Fiserv Inc. 1.67% 74,595 $9.6M Add +1.4%
JPST JPMorgan Ultra-Short Income 1.63% 185,794 $9.4M Add +3.5%
JNJ Johnson & Johnson 1.60% 49,730 $9.2M Reduce -0.2%
HON Honeywell International Inc. 1.56% 42,837 $9.0M Reduce -0.3%
CSCO Cisco Systems Inc. 1.56% 131,602 $9.0M Add +1.1%
GD General Dynamics Corp. 1.46% 24,707 $8.4M Reduce -1.0%
UNP Union Pacific Corp. 1.45% 35,376 $8.4M Reduce -0.8%
FLOT iShares Floating Rate Bond E 1.45% 163,261 $8.3M Add +1.4%
MCD McDonald's Corp. 1.40% 26,581 $8.1M Reduce -1.6%
APD Air Products & Chemicals Inc. 1.39% 29,322 $8.0M Reduce -3.8%
SPY SS SPDR S&P 500 ETF Trust-US 1.38% 11,942 $8.0M Reduce -1.7%
TMO Thermo Fisher Scientific Inc. 1.35% 16,111 $7.8M Add +0.8%
XYL Xylem Inc. 1.26% 49,405 $7.3M Add +0.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 1.23% 62,141 $7.1M Add +0.8%
VCSH Vanguard S/T Corp. Bond ETF 1.12% 81,080 $6.5M Add +1.6%
AWK American Water Works Co. Inc. 1.10% 45,602 $6.3M Add +1.9%
FDX FedEx Corp. 1.10% 26,842 $6.3M Add +1.1%
HD Home Depot Inc. 0.99% 14,129 $5.7M Add +0.0%
VTI VG Morningstar TS MKT ETF-US 0.99% 17,416 $5.7M Add +0.2%
MDT Medtronic PLC 0.97% 58,971 $5.6M Add +0.6%
AMGN Amgen Inc. 0.95% 19,377 $5.5M Reduce -0.0%
NVS Novartis AG-Sponsored ADR 0.93% 41,937 $5.4M Reduce -0.0%
USB US Bancorp 0.87% 103,812 $5.0M Add +2.2%
SPYM Ste STR SPDR PT S&P 500 ETF 0.81% 59,358 $4.7M Add +36.7%
SBUX Starbucks Corp. 0.80% 54,809 $4.6M Add +1.6%
AMAT Applied Materials Inc. 0.80% 22,484 $4.6M Add +1.9%
MDLZ Mondelez International Inc. Class A 0.79% 72,940 $4.6M Add +1.1%
VZ Verizon Communications Inc. 0.78% 103,030 $4.5M Reduce -2.6%
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.78% 31,201 $4.5M Add +1.0%
ARCC Ares Capital Corp. 0.76% 215,632 $4.4M Add +2.5%
ZTS Zoetis Inc. 0.74% 29,101 $4.3M Add +3.5%
VCIT Vanguard Int-Term Corporate 0.69% 47,598 $4.0M Add +8.2%
PFF iShares Preferred & Income S 0.67% 122,668 $3.9M Add +0.9%
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F 0.67% 75,553 $3.9M Add +4.0%
FAST Fastenal Co. 0.66% 77,700 $3.8M Reduce -0.3%
ADBE Adobe Inc. 0.59% 9,611 $3.4M Reduce -6.0%
LEA Lear Corp. 0.58% 33,442 $3.4M Reduce -0.1%
SHY iShares 1-3 Year Treasury Bo 0.54% 37,805 $3.1M Add +11.1%
VEA Vanguard Ftse Developed ETF 0.47% 45,589 $2.7M Add +7.5%
LRCX Lam Research Corp. 0.46% 19,725 $2.6M Reduce -20.0%
QQQ Invesco QQQ Trust Series 1 0.42% 4,038 $2.4M Add +1.3%
BKLN Invesco Senior Loan ETF 0.42% 115,706 $2.4M Add +4.4%
NKE Nike Inc. Class B 0.40% 33,355 $2.3M Add +3.2%
GOOGL Alphabet Inc. Class A 0.39% 9,231 $2.2M Reduce -1.6%
ASML ASML Holding NV-NY Reg SHS 0.38% 2,258 $2.2M Add +33.1%
SHV iShares 0-1 Year Treasury Bo 0.23% 12,158 $1.3M Add +2.8%
NYF iShares New York Muni Bond E 0.23% 25,105 $1.3M New
EXP Eagle Materials Inc. 0.21% 5,093 $1.2M Reduce -1.0%
XOM Exxon Mobil Corp. 0.20% 10,194 $1.1M No change
VOO Vanguard S&P 500 ETF 0.20% 1,869 $1.1M Reduce -0.4%
VTEB Vanguard Tax-Exempt Bond ETF 0.20% 22,732 $1.1M Reduce -2.7%
KLAC KLA Corp. 0.18% 989 $1.1M Reduce -17.5%
GATX Gatx Corp. 0.18% 5,978 $1.0M No change
SPTS SS SPDR P St Term TSY ETF 0.15% 30,000 $880K No change
WFC Wells Fargo & Co. 0.15% 10,122 $848K Add +0.0%
VXF Vanguard Extended Market ETF 0.14% 3,894 $815K Add +0.5%
SCHB Schwab US Broad Market ETF 0.12% 27,244 $700K Add +0.2%
CVX Chevron Corp. 0.11% 4,189 $651K Reduce -17.8%
NFLX Netflix Inc. 0.11% 537 $644K No change
JMUB JPMorgan Municipal ETF 0.11% 12,575 $635K Add +3.3%
NBIS Nebius Group NV 0.10% 5,155 $579K Add +0.5%
IBIT iShares Bitcoin Trust ETF 0.10% 8,845 $575K Add +27.1%
CENX Century Aluminum Company 0.10% 19,368 $569K Reduce -34.0%
ETN Eaton Corp. PLC 0.10% 1,514 $567K No change
PEP Pepsico Inc. 0.10% 3,969 $557K Reduce -8.3%
SGOV iShares 0-3 Month Treasury B 0.09% 5,288 $533K Add +5.5%
FELG Fidelity Enh LRG Cap GWTH 0.09% 12,675 $521K No change
BWXT BWX Technologies Inc. 0.09% 2,814 $519K Add +83.9%
TDG Transdigm Group Inc. 0.09% 390 $514K No change
CRM Salesforce Inc. 0.09% 2,141 $507K Add +5.8%
AVGO Broadcom Inc. 0.08% 1,479 $488K Add +34.5%
VT Vanguard Tot World STK ETF 0.08% 3,355 $462K No change
IWF iShares Russell 1000 Growth 0.08% 946 $443K Reduce -6.5%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.08% 8,562 $442K Reduce -0.9%
TSLA Tesla Inc. 0.08% 975 $434K Add +13.2%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.07% 1,455 $411K New
XLF SS Financial Select Sector 0.07% 7,298 $393K Add +4.3%
ADP Automatic Data Processing 0.07% 1,330 $390K No change
SPGM State Street SPDR Portfolio 0.07% 5,100 $382K Add +41.7%
HPQ HP Inc. 0.06% 13,500 $368K Reduce -12.9%
SPSB SS SPDR P St C Corp. ETF 0.06% 11,860 $359K Add +1.5%
BKNG Booking Holdings Inc. 0.06% 62 $335K Reduce -7.5%
BX Blackstone Inc. 0.06% 1,917 $328K No change
ROP Roper Technologies Inc. 0.06% 656 $327K No change
INFQ Infleqtion Inc. filed as CHURCHILL CAP CORP X 0.06% 25,000 $322K New
MRK Merck & Co. Inc. 0.05% 3,774 $317K Reduce -8.5%
CMCSA Comcast Corp. Class A 0.05% 9,779 $307K Reduce -18.6%
SMHI Seacor Marine Holdings Inc. 0.05% 46,038 $299K No change
T AT&T Inc. 0.05% 10,095 $285K No change
PANW Palo Alto Networks Inc. 0.05% 1,380 $281K No change
PLTR Palantir Technologies Inc. Class A 0.05% 1,525 $278K New
HPE Hewlett Packard Enterprise 0.05% 11,030 $271K No change
WMB Williams Cos Inc. 0.05% 4,145 $263K No change
BLK BlackRock Inc. 0.04% 218 $254K Add +0.5%
VTOL Bristow Group Inc. 0.04% 7,025 $253K No change
CMG Chipotle Mexican Grill Inc. 0.04% 6,367 $250K Reduce -4.5%
LMT Lockheed Martin Corp. 0.04% 489 $244K No change
APO Apollo Global Management Inc. 0.04% 1,800 $240K No change
STT State Street Corp. 0.04% 1,998 $232K No change
BA The Boeing Co. 0.04% 1,071 $231K No change
MMM 3M Co. 0.04% 1,451 $225K No change
TSM Taiwan Semiconductor-SP ADR 0.04% 800 $223K New
PG The Procter & Gamble Co. 0.04% 1,438 $221K Reduce -30.3%
WBD Warner Bros Discovery Inc. 0.04% 11,209 $219K No change
SLV iShares Silver Trust 0.04% 4,934 $209K New
EFA iShares MSCI Eafe ETF 0.04% 2,205 $206K New
EA Electronic Arts Inc. 0.04% 1,019 $206K New
IVE iShares S&P 500 Value ETF 0.04% 979 $202K New
STGW Stagwell Inc. 0.03% 30,000 $169K No change
ASPI Asp Isotopes Inc. 0.03% 15,000 $144K No change
BRW Saba Capital Income & Opport 0.01% 10,028 $78K New
Other holdings (1): bonds, preferreds, convertibles and warrants · $480K (not counted above)
SecurityClassShares / PrincipalValueChange
QQQ Invesco QQQ Trust Series 1 UNIT SER 1 · principal 800$480KReduce -11.1%

Total filed on the 13F, all lines: $577.4M.

Portfolio Sells Q2 2025 → Q3 2025
HON Honeywell International Inc. Reduce -0.3% 1.56% −0.30
V Visa Inc. Class A Reduce -0.1% 2.19% −0.25
DEO Diageo PLC-Sponsored ADR Sold out 0.00% −0.22
APD Air Products & Chemicals Inc. Reduce -3.8% 1.39% −0.21
ADBE Adobe Inc. Reduce -6.0% 0.59% −0.15
EL Estee Lauder Companies Class A Sold out 0.00% −0.15
MA Mastercard Inc. Class A Reduce -0.1% 2.41% −0.15
AXP American Express Co. Reduce -0.2% 2.79% −0.09
UNP Union Pacific Corp. Reduce -0.8% 1.45% −0.08
MCD McDonald's Corp. Reduce -1.6% 1.40% −0.07
VZ Verizon Communications Inc. Reduce -2.6% 0.78% −0.07
AMGN Amgen Inc. Reduce -0.0% 0.95% −0.06
VGK Vanguard Ftse Europe ETF Sold out 0.00% −0.05
AEVA Aeva Technologies Inc. Sold out 0.00% −0.04
SCHD Schwab US DVD Equity ETF Sold out 0.00% −0.04
CMCSA Comcast Corp. Class A Reduce -18.6% 0.05% −0.03
CMG Chipotle Mexican Grill Inc. Reduce -4.5% 0.04% −0.03
CVX Chevron Corp. Reduce -17.8% 0.11% −0.02
PG The Procter & Gamble Co. Reduce -30.3% 0.04% −0.02
SPY SS SPDR S&P 500 ETF Trust-US Reduce -1.7% 1.38% −0.02
VTEB Vanguard Tax-Exempt Bond ETF Reduce -2.7% 0.20% −0.02
KLAC KLA Corp. Reduce -17.5% 0.18% −0.01
BKNG Booking Holdings Inc. Reduce -7.5% 0.06% −0.01
NVS Novartis AG-Sponsored ADR Reduce -0.0% 0.93% −0.01
PEP Pepsico Inc. Reduce -8.3% 0.10% −0.01
LEA Lear Corp. Reduce -0.1% 0.58% −0.01
HPQ HP Inc. Reduce -12.9% 0.06% −0.01
MRK Merck & Co. Inc. Reduce -8.5% 0.05% −0.01
CHPT Chargepoint Holdings Inc. Sold out 0.00% −0.00
IWF iShares Russell 1000 Growth Reduce -6.5% 0.08% −0.00
VOO Vanguard S&P 500 ETF Reduce -0.4% 0.20% +0.00
CENX Century Aluminum Company Reduce -34.0% 0.10% +0.00
BAC Bank of America Corp. Reduce -0.9% 0.08% +0.00
LRCX Lam Research Corp. Reduce -20.0% 0.46% +0.01
EXP Eagle Materials Inc. Reduce -1.0% 0.21% +0.01
JPM JPMorgan Chase & Co. Reduce -0.1% 3.06% +0.04
FAST Fastenal Co. Reduce -0.3% 0.66% +0.05
GOOGL Alphabet Inc. Class A Reduce -1.6% 0.39% +0.08
GD General Dynamics Corp. Reduce -1.0% 1.46% +0.11
JNJ Johnson & Johnson Reduce -0.2% 1.60% +0.18
GLD SPDR Gold Shares Reduce -0.6% 2.64% +0.20
NVDA Nvidia Corp. Reduce -1.5% 4.44% +0.35
APH Amphenol Corp. Class A Reduce -1.3% 3.77% +0.50
GOOG Alphabet Inc. Class C Reduce -0.2% 3.81% +0.83

Portfolio Buys Q2 2025 → Q3 2025
AAPL Apple Inc. Add +0.1% 5.36% +0.73
META Meta Platforms Inc. Class A Add +28.3% 2.08% +0.33
NYF iShares New York Muni Bond E New 0.23% +0.23
SPYM Ste STR SPDR PT S&P 500 ETF Add +36.7% 0.81% +0.22
TMO Thermo Fisher Scientific Inc. Add +0.8% 1.35% +0.15
ASML ASML Holding NV-NY Reg SHS Add +33.1% 0.38% +0.13
XYL Xylem Inc. Add +0.3% 1.26% +0.08
TJX TJX Companies Inc. Add +1.0% 0.78% +0.07
IBM Intl Business Machines Corp. New 0.07% +0.07
INFQ Infleqtion Inc. New 0.06% +0.06
BWXT BWX Technologies Inc. Add +83.9% 0.09% +0.05
PLTR Palantir Technologies Inc. Class A New 0.05% +0.05
NBIS Nebius Group NV Add +0.5% 0.10% +0.05
AMAT Applied Materials Inc. Add +1.9% 0.80% +0.05
TSM Taiwan Semiconductor-SP ADR New 0.04% +0.04
SLV iShares Silver Trust New 0.04% +0.04
EFA iShares MSCI Eafe ETF New 0.04% +0.04
EA Electronic Arts Inc. New 0.04% +0.04
IVE iShares S&P 500 Value ETF New 0.04% +0.04
HD Home Depot Inc. Add +0.0% 0.99% +0.03
AVGO Broadcom Inc. Add +34.5% 0.08% +0.03
TSLA Tesla Inc. Add +13.2% 0.08% +0.02
VEA Vanguard Ftse Developed ETF Add +7.5% 0.47% +0.02
MDT Medtronic PLC Add +0.6% 0.97% +0.02
IBIT iShares Bitcoin Trust ETF Add +27.1% 0.10% +0.02
SPGM State Street SPDR Portfolio Add +41.7% 0.07% +0.02
SHY iShares 1-3 Year Treasury Bo Add +11.1% 0.54% +0.02
VCIT Vanguard Int-Term Corporate Add +8.2% 0.69% +0.02
USB US Bancorp Add +2.2% 0.87% +0.01
BRW Saba Capital Income & Opport New 0.01% +0.01
QQQ Invesco QQQ Trust Series 1 Add +1.3% 0.42% +0.01
VTI VG Morningstar TS MKT ETF-US Add +0.2% 0.99% +0.01
VXF Vanguard Extended Market ETF Add +0.5% 0.14% +0.00
BLK BlackRock Inc. Add +0.5% 0.04% +0.00
SCHB Schwab US Broad Market ETF Add +0.2% 0.12% +0.00
XLF SS Financial Select Sector Add +4.3% 0.07% 0.00
SGOV iShares 0-3 Month Treasury B Add +5.5% 0.09% −0.00
JMUB JPMorgan Municipal ETF Add +3.3% 0.11% −0.00
SPSB SS SPDR P St C Corp. ETF Add +1.5% 0.06% −0.00
WFC Wells Fargo & Co. Add +0.0% 0.15% −0.00
SHV iShares 0-1 Year Treasury Bo Add +2.8% 0.23% −0.01
BKLN Invesco Senior Loan ETF Add +4.4% 0.42% −0.01
CRM Salesforce Inc. Add +5.8% 0.09% −0.01
JMST JPM Ultra-Short Muni Income Add +4.0% 0.67% −0.02
PFF iShares Preferred & Income S Add +0.9% 0.67% −0.02
NKE Nike Inc. Class B Add +3.2% 0.40% −0.02
FDX FedEx Corp. Add +1.1% 1.10% −0.02
VCSH Vanguard S/T Corp. Bond ETF Add +1.6% 1.12% −0.06
AWK American Water Works Co. Inc. Add +1.9% 1.10% −0.06
JPST JPMorgan Ultra-Short Income Add +3.5% 1.63% −0.06

Notes & Other Activity Q2 2025 → Q3 2025
QQQ Invesco QQQ Trust Series 1 UNIT SER 1 · principal Reduce -11.1% 800 $480K

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

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