Perennial Advisors, LLC

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CIK 1697360

13F portfolio (2026-Q1)

$583M

Positions

122

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

Open in PORT →

As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

122

Top 5

22.6%

Top 10

38.0%

Effective N

44.0

HHI

0.023

This quarter

4 new · 0 exit →

By sector

Unclassified23.9%

Information Technology22.8%

Financials12.7%

Consumer Discretionary11.1%

Communication Services9.7%

Industrials9.5%

Health Care6.0%

Materials1.7%

Other2.5%

By market cap

Mega (>$200B)48.6%

Unknown25.6%

Large ($10–200B)24.5%

Mid ($2–10B)1.2%

Small ($300M–2B)0.1%

Micro (<$300M)0.1%

By region

North America74.4%

Other23.9%

Europe1.6%

Asia-Pacific0.0%

By industry group GICS — finer than sector

Industry group	Weight	Names
Unclassified	23.94%	38
Technology Hardware & Equipment	8.98%	8
Semiconductors & Semiconductor Equipment	8.92%	5
Specialty Retail	7.93%	5
Software & IT Services	6.63%	5
Banks	6.62%	6
Pharmaceuticals & Biotechnology	5.05%	5
Software	4.89%	3
Commercial Services & Supplies	4.44%	3
Aerospace & Defense	3.36%	5
Hotels, Restaurants & Leisure	2.41%	2
Machinery	2.29%	5
Capital Markets	1.97%	4
Airlines	1.70%	2
Road & Rail	1.53%	1
Chemicals	1.39%	5
Utilities	1.24%	2
Media & Entertainment	1.14%	2
Entertainment	1.10%	1
Health Care Equipment & Supplies	0.99%	2
Diversified Telecommunication Services	0.90%	2
Food Products	0.77%	1
Automobiles & Components	0.75%	2
Oil, Gas & Consumable Fuels	0.41%	2
Transportation Infrastructure	0.21%	2
Construction Materials	0.16%	1
Metals & Mining	0.13%	1
Beverages	0.11%	1
Marine	0.06%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	AAPL	Apple Inc.	Information Technology	5.34%
2	MSFT	MICROSOFT CORP	Information Technology	4.78%
3	GOOG	Alphabet Inc.	Communication Services	4.43%
4	BRK.A	BERKSHIRE HATHAWAY INC DEL	Unclassified	4.07%
5	NVDA	NVIDIA CORP	Information Technology	3.95%
6	APH	AMPHENOL CORP /DE/	Information Technology	3.66%
7	AMZN	AMAZON COM INC	Consumer Discretionary	3.24%
8	GLD	SPDR GOLD TR	Unclassified	3.20%
9	JPM	JPMORGAN CHASE & CO	Financials	2.84%
10	AXP	AMERICAN EXPRESS CO	Financials	2.52%

84/122 names classified · sector 76.1% of weight · industry 76.1% · mkt cap 74.4%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 37 quarters

Information TechnologyAAPL, MSFT, APH, TMO, NVDA · other

FinancialsMA, JPM, V, AXP, KKR · other

IndustrialsFISV, HON, UNP, FDX, MMM · other

Consumer DiscretionaryAMZN, COST, MCD, SBUX, HD · other

Communication ServicesGOOG, DIS, META, VZ, STGW · other

Health CareJNJ, MDT, AMGN, NVS, XRAY · other

MaterialsAPD, EL, PG, COTY, LIN · other

UtilitiesAWK, D, ED, WMB, ATO · other

Consumer StaplesMDLZ, DEO, KHC, KR, MO · other

EnergyXOM, CVX, SLB, MPC, HAL · other

Real EstateMAA, BXMT, EGP, STWD, CCI · other

UnclassifiedBRK.A, GLD, VCSH, ACTIVISION BLIZZARD INC, SHV · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 76.1% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (77 classified)Perennial Advisors, LLC centroid (Large Core)

Information TechnologyConsumer DiscretionaryFinancialsCommunication ServicesIndustrialsHealth CareMaterialsUtilitiesConsumer StaplesEnergy

Style box summary for Perennial Advisors, LLC: centroid Large Core. Heaviest cells: Large Growth 31.2%, Large Core 25.6%, Large Value 8.0%.

Classified: 72.5% of book weight (77/122 names) · unclassified 27.5%: BRK.A, GLD, JPST, KKR, FLOT, SPY, SPYM, VCSH, NVS, VTI +35 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 122 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	AAPLAPPLE INC	122,546	$31M	5.3%	HOLD
2	MSFTMICROSOFT CORP	75,275	$28M	4.8%	HOLD
3	GOOGALPHABET INC	90,016	$26M	4.4%	HOLD
4	BRK.ABERKSHIRE HATHAWAY INC DEL	33	$24M	4.1%	HOLD
5	NVDANVIDIA CORPORATION	131,825	$23M	3.9%	HOLD
6	APHAMPHENOL CORP	168,622	$21M	3.7%	TRIM −3%
7	AMZNAMAZON COM INC	90,516	$19M	3.2%	HOLD
8	GLDSPDR GOLD TR	43,388	$19M	3.2%	HOLD
9	JPMJPMORGAN CHASE & CO	56,156	$17M	2.8%	HOLD
10	AXPAMERICAN EXPRESS CO	48,626	$15M	2.5%	HOLD
11	COSTCOSTCO WHSL CORP NEW	13,502	$13M	2.3%	HOLD
12	MAMASTERCARD INCORPORATED	25,160	$13M	2.2%	HOLD
13	JNJJOHNSON & JOHNSON	48,792	$12M	2.0%	TRIM −4%
14	VVISA INC	38,569	$12M	2.0%	HOLD
15	JPSTJ P MORGAN EXCHANGE TRADED F	217,043	$11M	1.9%	ADD 8%
16	KKRKKR & CO INC	116,084	$11M	1.8%	HOLD
17	CSCOCISCO SYS INC	133,588	$10M	1.8%	HOLD
18	HONHONEYWELL INTL INC	43,870	$10M	1.7%	TRIM −3%
19	METAMETA PLATFORMS INC	16,916	$10M	1.7%	TRIM −6%
20	FDXFEDEX CORP	26,839	$10M	1.6%	TRIM −2%
21	FLOTISHARES TR	178,909	$9M	1.6%	ADD 5%
22	UNPUNION PAC CORP	36,757	$9M	1.5%	HOLD
23	MCDMCDONALDS CORP	28,235	$9M	1.5%	HOLD
24	GDGENERAL DYNAMICS CORP	25,330	$9M	1.5%	HOLD
25	TMOTHERMO FISHER SCIENTIFIC INC	16,820	$8M	1.4%	HOLD
26	SPYSTATE STR SPDR S&P 500 ETF T	11,912	$8M	1.3%	TRIM −3%
27	SPYMSPDR SERIES TRUST	95,054	$7M	1.2%	TRIM −6%
28	AWKAMERICAN WTR WKS CO INC NEW	51,325	$7M	1.2%	ADD 4%
29	AMGNAMGEN INC	19,719	$7M	1.2%	HOLD
30	AMATAPPLIED MATLS INC	20,236	$7M	1.2%	TRIM −7%
31	NFLXNETFLIX INC	66,886	$6M	1.1%	ADD 25%
32	DISDISNEY WALT CO	66,579	$6M	1.1%	HOLD
33	VCSHVANGUARD SCOTTSDALE FDS	80,116	$6M	1.1%	TRIM −3%
34	NVSNOVARTIS AG	40,888	$6M	1.1%	TRIM −3%
35	XYLXYLEM INC	51,124	$6M	1.0%	HOLD
36	USBUS BANCORP	112,457	$6M	1.0%	HOLD
37	MDTMEDTRONIC PLC	63,972	$6M	1.0%	ADD 3%
38	VTIVANGUARD INDEX FDS	16,901	$5M	0.9%	TRIM −6%
39	LINLINDE PLC	10,788	$5M	0.9%	ADD 344%
40	TJXTJX COS INC NEW	33,337	$5M	0.9%	HOLD
41	SBUXSTARBUCKS CORP	59,077	$5M	0.9%	ADD 3%
42	HDHOME DEPOT INC	15,179	$5M	0.9%	ADD 4%
43	VZVERIZON COMMUNICATIONS INC	99,167	$5M	0.9%	TRIM −4%
44	MDLZMONDELEZ INTL INC	77,454	$4M	0.8%	ADD 6%
45	ARCCARES CAPITAL CORP	236,129	$4M	0.7%	ADD 2%
46	VCITVANGUARD SCOTTSDALE FDS	50,800	$4M	0.7%	ADD 4%
47	JMSTJ P MORGAN EXCHANGE TRADED F	81,140	$4M	0.7%	ADD 4%
48	PFFISHARES TR	133,627	$4M	0.7%	ADD 3%
49	LEALEAR CORP	33,035	$4M	0.7%	ADD 3%
50	IAUISHARES GOLD TR	43,703	$4M	0.7%	NEW
51	VEAVANGUARD TAX-MANAGED FDS	59,992	$4M	0.7%	ADD 9%
52	ZTSZOETIS INC	32,256	$4M	0.7%	ADD 14%
53	SHYISHARES TR	44,753	$4M	0.6%	ADD 5%
54	FASTFASTENAL CO	77,135	$4M	0.6%	HOLD
55	ASMLASML HOLDING N V	2,446	$3M	0.6%	HOLD
56	GOOGLALPHABET INC	9,854	$3M	0.5%	ADD 6%
57	LRCXLAM RESEARCH CORP	13,230	$3M	0.5%	TRIM −15%
58	QQQINVESCO QQQ TR	4,629	$3M	0.5%	ADD 3%
59	BKLNINVESCO EXCH TRADED FD TR II	127,257	$3M	0.4%	HOLD
60	JMTGJ P MORGAN EXCHANGE TRADED F	37,106	$2M	0.3%	NEW
61	RSPINVESCO EXCHANGE TRADED FD T	9,641	$2M	0.3%	NEW
62	SHVISHARES TR	16,513	$2M	0.3%	ADD 14%
63	NKENIKE INC	32,957	$2M	0.3%	TRIM −14%
64	FISVFISERV INC	29,333	$2M	0.3%	TRIM −7%
65	NYFISHARES TR	29,975	$2M	0.3%	ADD 12%
66	XOMEXXON MOBIL CORP	9,153	$2M	0.3%	TRIM −10%
67	KLACKLA CORP	933	$1M	0.2%	HOLD
68	VTEBVANGUARD MUN BD FDS	22,998	$1M	0.2%	HOLD
69	GATXGATX CORP	5,853	$999,342	0.2%	TRIM −2%
70	XLFSELECT SECTOR SPDR TR	19,414	$958,470	0.2%	ADD 166%
71	EXPEAGLE MATLS INC	5,043	$955,397	0.2%	HOLD
72	JMUBJPMORGAN MUNICIPAL ETF	18,850	$942,312	0.2%	ADD 6%
73	VXFVANGUARD INDEX FDS	4,294	$883,706	0.2%	ADD 4%
74	CVXCHEVRON CORP NEW	3,926	$812,340	0.1%	HOLD
75	CENXCENTURY ALUM CO	12,868	$755,223	0.1%	TRIM −34%
76	WFCWELLS FARGO CO NEW	9,480	$754,684	0.1%	TRIM −6%
77	VOOVANGUARD INDEX FDS	1,247	$745,145	0.1%	HOLD
78	IVEISHARES TR	3,485	$735,858	0.1%	ADD 256%
79	APDAIR PRODS & CHEMS INC	2,362	$686,212	0.1%	TRIM −68%
80	SCHBSCHWAB STRATEGIC TR	26,981	$677,230	0.1%	HOLD
81	PEPPEPSICO INC	4,274	$663,767	0.1%	HOLD
82	BWXTBWX TECHNOLOGIES INC	3,024	$618,378	0.1%	HOLD
83	ETNEATON CORP PLC	1,514	$541,513	0.1%	HOLD
84	NBISNEBIUS GROUP N.V.	5,215	$541,109	0.1%	HOLD
85	MRKMERCK & CO INC	4,274	$514,118	0.1%	ADD 13%
86	BACBANK AMERICA CORP	9,762	$475,898	0.1%	ADD 14%
87	FELGFidelity Covington TR Enhanced LC Grow ETF	12,675	$475,186	0.1%	HOLD
88	VTVANGUARD INTL EQUITY INDEX F	3,405	$470,980	0.1%	HOLD
89	AVGOBROADCOM INC	1,509	$467,051	0.1%	HOLD
90	TDGTRANSDIGM GROUP INC	390	$451,995	0.1%	HOLD
91	SPGMSPDR INDEX SHS FDS	5,355	$405,428	0.1%	HOLD
92	IWFISHARES TR	946	$403,375	0.1%	HOLD
93	VHTVANGUARD WORLD FD	1,398	$380,718	0.1%	NEW
94	CRMSALESFORCE INC	2,014	$375,954	0.1%	TRIM −7%
95	TSLATESLA INC	975	$362,457	0.1%	HOLD
96	IBMINTERNATIONAL BUSINESS MACHS	1,425	$345,406	0.1%	HOLD
97	SLVISHARES SILVER TR	4,934	$336,203	0.1%	HOLD
98	SMHISEACOR MARINE HLDGS INC	46,038	$329,633	0.1%	HOLD
99	VTOLBRISTOW GROUP INC	7,025	$329,403	0.1%	HOLD
100	PANWPALO ALTO NETWORKS INC	1,980	$317,434	0.1%	ADD 32%
101	IBITISHARES BITCOIN TRUST ETF	8,155	$313,316	0.1%	TRIM −13%
102	TAT&T INC	10,095	$292,667	0.1%	HOLD
103	BXBLACKSTONE INC	2,426	$278,990	0.0%	ADD 20%
104	LMTLOCKHEED MARTIN CORP	458	$276,811	0.0%	TRIM −11%
105	TSMTAIWAN SEMICONDUCTOR MFG LTD	800	$270,360	0.0%	HOLD
106	BLKBLACKROCK INC	281	$270,158	0.0%	ADD 19%
107	HPEHEWLETT PACKARD ENTERPRISE C	11,030	$262,625	0.0%	HOLD
108	HPQHP INC	13,500	$259,335	0.0%	HOLD
109	WMBWILLIAMS COS INC	3,483	$253,493	0.0%	TRIM −16%
110	ADPAUTOMATIC DATA PROCESSING IN	1,225	$248,896	0.0%	HOLD
111	STTSTATE STR CORP	1,923	$243,375	0.0%	HOLD
112	EFAISHARES TR	2,355	$228,742	0.0%	HOLD
113	PGPROCTER AND GAMBLE CO	1,573	$227,144	0.0%	TRIM −4%
114	PLTRPALANTIR TECHNOLOGIES INC	1,520	$222,346	0.0%	HOLD
115	BKNGBOOKING HOLDINGS INC	52	$218,937	0.0%	TRIM −16%
116	CMCSACOMCAST CORP NEW	7,604	$218,311	0.0%	TRIM −13%
117	BABOEING CO	1,066	$212,211	0.0%	HOLD
118	MMM3M CO	1,451	$210,773	0.0%	HOLD
119	APOAPOLLO GLOBAL MGMT INC	1,800	$200,556	0.0%	HOLD
120	BRWSABA CAPITAL INCOME & OPRNT	10,787	$72,704	0.0%	ADD 4%
121	ASPIASP ISOTOPES INC	15,000	$66,300	0.0%	HOLD
122	DAVAENDAVA PLC	10,000	$44,200	0.0%	HOLD

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

AAPLAPPLE INC

126K

124K

121K

122K

123K

$31M

MSFTMICROSOFT CORP

75K

76K

74K

75K

$28M

GOOGALPHABET INC

90K

91K

90K

91K

90K

$26M

BRK/ABERKSHIRE HATHAWAY INC DEL

—

$24M

NVDANVIDIA CORPORATION

143K

142K

139K

137K

133K

132K

$23M

APHAMPHENOL CORP

184K

182K

178K

176K

174K

169K

$21M

AMZNAMAZON COM INC

85K

86K

89K

91K

$19M

GLDSPDR GOLD TR

44K

43K

$19M

JPMJPMORGAN CHASE & CO

57K

56K

57K

56K

$17M

AXPAMERICAN EXPRESS CO

50K

49K

48K

49K

$15M

COSTCOSTCO WHSL CORP NEW

14K

13K

14K

$13M

MAMASTERCARD INCORPORATED

26K

24K

25K

$13M

JNJJOHNSON & JOHNSON

52K

50K

51K

49K

$12M

VVISA INC

39K

38K

37K

38K

39K

$12M

JPSTJ P MORGAN EXCHANGE TRADED F

175K

191K

180K

186K

201K

217K

$11M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆Perennial Advisors, LLC