# EDGAR Filing Document

**Accession Number:** 0001697360
**File Stem:** 0001697360-26-000001
**Filing Date:** 2026-1
**Character Count:** 16281
**Document Hash:** 9703af7c1cd426883f94aa22fb5aeef9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001697360-26-000001.hdr.sgml**: 20260112

**ACCESSION NUMBER**: 0001697360-26-000001

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260112

**DATE AS OF CHANGE**: 20260112

**EFFECTIVENESS DATE**: 20260112

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Perennial Advisors, LLC
- **CENTRAL INDEX KEY:** 0001697360

**ORGANIZATION NAME:**
- **EIN:** 463416570
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-17700
- **FILM NUMBER:** 26525083

**BUSINESS ADDRESS:**
- **STREET 1:** 1350 AVENUE OF THE AMERICAS
- **STREET 2:** SUITE 1920
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019
- **BUSINESS PHONE:** 212-652-3900

**MAIL ADDRESS:**
- **STREET 1:** 1350 AVENUE OF THE AMERICAS
- **STREET 2:** SUITE 1920
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10019

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Perennial Advisors LLC<br>**Address:** 1350 AVENUE OF THE AMERICAS<br>SUITE 1920<br>NEW YORK, NY 10019

**Form 13F File Number:** 028-17700

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Christopher Heintz<br>**Title:** Managing Partner<br>**Phone:** 9174538722

**Signature, Place, and Date of Signing:**

Christopher Heintz  New York, NY  01-12-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 127

**Form 13F Information Table Value Total:** $596430594

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 3M CO | COM | 88579Y101 |  | 232354 | 1451 | SH |  | SOLE |  | 1451 | 0 | 0 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 1850571 | 7492 | SH |  | SOLE |  | 6830 | 0 | 662 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 28456685 | 90684 | SH |  | SOLE |  | 72098 | 0 | 18586 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2916593 | 9318 | SH |  | SOLE |  | 5430 | 0 | 3888 |
| AMAZON COM INC | COM | 023135106 |  | 20531430 | 88950 | SH |  | SOLE |  | 66546 | 0 | 22404 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 18025507 | 48724 | SH |  | SOLE |  | 40219 | 0 | 8505 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 6411074 | 49127 | SH |  | SOLE |  | 37627 | 0 | 11500 |
| AMGEN INC | COM | 031162100 |  | 6531895 | 19956 | SH |  | SOLE |  | 15982 | 0 | 3974 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 23515997 | 174010 | SH |  | SOLE |  | 144554 | 0 | 29456 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 260568 | 1800 | SH |  | SOLE |  | 1350 | 0 | 450 |
| APPLE INC | COM | 037833100 |  | 33161058 | 121978 | SH |  | SOLE |  | 93761 | 0 | 28217 |
| APPLIED MATLS INC | COM | 038222105 |  | 5619858 | 21868 | SH |  | SOLE |  | 7878 | 0 | 13990 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 4671610 | 230925 | SH |  | SOLE |  | 173027 | 0 | 57898 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 2648974 | 2476 | SH |  | SOLE |  | 1812 | 0 | 664 |
| ASP ISOTOPES INC | COM | 00218A105 |  | 80250 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 250771 | 10095 | SH |  | SOLE |  | 10095 | 0 | 0 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 318966 | 1240 | SH |  | SOLE |  | 1240 | 0 | 0 |
| BANK AMERICA CORP | COM | 060505104 |  | 470910 | 8562 | SH |  | SOLE |  | 900 | 0 | 7662 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 24908400 | 33 | SH |  | SOLE |  | 31 | 0 | 2 |
| BLACKROCK INC | COM | 09290D101 |  | 252931 | 236 | SH |  | SOLE |  | 116 | 0 | 120 |
| BLACKSTONE INC | COM | 09260D107 |  | 310933 | 2017 | SH |  | SOLE |  | 1217 | 0 | 800 |
| BOEING CO | COM | 097023105 |  | 232584 | 1071 | SH |  | SOLE |  | 1071 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 332031 | 62 | SH |  | SOLE |  | 0 | 0 | 62 |
| BRISTOW GROUP INC | COM | 11040G103 |  | 257256 | 7025 | SH |  | SOLE |  | 7025 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 515689 | 1490 | SH |  | SOLE |  | 1337 | 0 | 153 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 522669 | 3024 | SH |  | SOLE |  | 2429 | 0 | 595 |
| CENTURY ALUM CO | COM | 156431108 |  | 758839 | 19368 | SH |  | SOLE |  | 19368 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 598571 | 3927 | SH |  | SOLE |  | 3501 | 0 | 426 |
| CISCO SYS INC | COM | 17275R102 |  | 10350262 | 134367 | SH |  | SOLE |  | 94387 | 0 | 39980 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 262405 | 8779 | SH |  | SOLE |  | 1279 | 0 | 7500 |
| CONSTELLATION ENERGY CORP | COM | 21037T109 |  | 292508 | 828 | SH |  | SOLE |  | 274 | 0 | 554 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 11536827 | 13379 | SH |  | SOLE |  | 10860 | 0 | 2519 |
| DISNEY WALT CO | COM | 254687106 |  | 7477431 | 65721 | SH |  | SOLE |  | 50077 | 0 | 15644 |
| EAGLE MATLS INC | COM | 26969P108 |  | 1052622 | 5093 | SH |  | SOLE |  | 0 | 0 | 5093 |
| EATON CORP PLC | SHS | G29183103 |  | 482225 | 1514 | SH |  | SOLE |  | 1514 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 208213 | 1019 | SH |  | SOLE |  | 1019 | 0 | 0 |
| ENDAVA PLC | ADS | 29260V105 |  | 63200 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1226746 | 10194 | SH |  | SOLE |  | 7030 | 0 | 3164 |
| FASTENAL CO | COM | 311900104 |  | 3115092 | 77625 | SH |  | SOLE |  | 77500 | 0 | 125 |
| FEDEX CORP | COM | 31428X106 |  | 7913232 | 27393 | SH |  | SOLE |  | 20731 | 0 | 6662 |
| FIDELITY COVINGTON TRUST | ENHANCED LARGE | 31609A305 |  | 528548 | 12675 | SH |  | SOLE |  | 12675 | 0 | 0 |
| FISERV INC | COM | 337738108 |  | 2108668 | 31393 | SH |  | SOLE |  | 20393 | 0 | 11000 |
| GATX CORP | COM | 361448103 |  | 1013869 | 5978 | SH |  | SOLE |  | 0 | 0 | 5978 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 8625591 | 25621 | SH |  | SOLE |  | 19888 | 0 | 5733 |
| GOLDMAN SACHS GROUP INC | COM | 38141G104 |  | 203928 | 232 | SH |  | SOLE |  | 15 | 0 | 217 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824C109 |  | 264941 | 11030 | SH |  | SOLE |  | 0 | 0 | 11030 |
| HOME DEPOT INC | COM | 437076102 |  | 5029273 | 14616 | SH |  | SOLE |  | 10915 | 0 | 3701 |
| HONEYWELL INTL INC | COM | 438516106 |  | 8849968 | 45364 | SH |  | SOLE |  | 35121 | 0 | 10243 |
| HP INC | COM | 40434L105 |  | 300780 | 13500 | SH |  | SOLE |  | 0 | 0 | 13500 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 422100 | 1425 | SH |  | SOLE |  | 916 | 0 | 509 |
| INVESCO EXCH TRADED FD TR II | SR LN ETF | 46138G508 |  | 2673486 | 127309 | SH |  | SOLE |  | 95338 | 0 | 31971 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 2760377 | 4493 | SH |  | SOLE |  | 577 | 0 | 3916 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 467455 | 9415 | SH |  | SOLE |  | 3870 | 0 | 5545 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 317849 | 4934 | SH |  | SOLE |  | 4934 | 0 | 0 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 |  | 8706778 | 171191 | SH |  | SOLE |  | 128068 | 0 | 43123 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 4016472 | 129731 | SH |  | SOLE |  | 102064 | 0 | 27667 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 3517035 | 42466 | SH |  | SOLE |  | 28724 | 0 | 13742 |
| ISHARES TR | TRUST ISHARE 0-1 | 464288679 |  | 1589575 | 14431 | SH |  | SOLE |  | 10978 | 0 | 3453 |
| ISHARES TR | NEW YORK MUN ETF | 464288323 |  | 1437814 | 26870 | SH |  | SOLE |  | 26605 | 0 | 265 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 549179 | 5471 | SH |  | SOLE |  | 4922 | 0 | 549 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 447742 | 946 | SH |  | SOLE |  | 0 | 0 | 946 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 224231 | 2335 | SH |  | SOLE |  | 2335 | 0 | 0 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 207617 | 979 | SH |  | SOLE |  | 490 | 0 | 489 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT ETF | 46641Q837 |  | 10162605 | 200875 | SH |  | SOLE |  | 149851 | 0 | 51024 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHT MUNCPL | 46641Q654 |  | 3982138 | 78171 | SH |  | SOLE |  | 54795 | 0 | 23376 |
| J P MORGAN EXCHANGE TRADED F | MUNICIPAL ETF | 46641Q647 |  | 896880 | 17760 | SH |  | SOLE |  | 11390 | 0 | 6370 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 10469902 | 50591 | SH |  | SOLE |  | 37151 | 0 | 13440 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 18223100 | 56555 | SH |  | SOLE |  | 45219 | 0 | 11336 |
| KKR  CO INC | COM | 48251W104 |  | 14594916 | 114488 | SH |  | SOLE |  | 98772 | 0 | 15716 |
| KLA CORP | COM NEW | 482480100 |  | 1154326 | 950 | SH |  | SOLE |  | 0 | 0 | 950 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 2659282 | 15535 | SH |  | SOLE |  | 0 | 0 | 15535 |
| LEAR CORP | COM NEW | 521865204 |  | 3672869 | 32049 | SH |  | SOLE |  | 23795 | 0 | 8254 |
| LINDE PLC | SHS | G54950103 |  | 1036555 | 2431 | SH |  | SOLE |  | 1187 | 0 | 1244 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 250058 | 517 | SH |  | SOLE |  | 487 | 0 | 30 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 14213216 | 24897 | SH |  | SOLE |  | 21537 | 0 | 3360 |
| MCDONALDS CORP | COM | 580135101 |  | 8490501 | 27780 | SH |  | SOLE |  | 22531 | 0 | 5249 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 5939892 | 61832 | SH |  | SOLE |  | 45452 | 0 | 16380 |
| MERCK  CO INC | COM | 58933Y105 |  | 397250 | 3774 | SH |  | SOLE |  | 3774 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 11847956 | 17949 | SH |  | SOLE |  | 13309 | 0 | 4640 |
| MICROSOFT CORP | COM | 594918104 |  | 35941821 | 74318 | SH |  | SOLE |  | 56149 | 0 | 18169 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 3930918 | 73015 | SH |  | SOLE |  | 55266 | 0 | 17749 |
| NEBIUS GROUP N.V. | SHS CLASS A | N97284108 |  | 436522 | 5215 | SH |  | SOLE |  | 5215 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 4999940 | 53327 | SH |  | SOLE |  | 37589 | 0 | 15738 |
| NIKE INC | CL B | 654106103 |  | 2450954 | 38468 | SH |  | SOLE |  | 26598 | 0 | 11870 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 5837968 | 42344 | SH |  | SOLE |  | 31687 | 0 | 10657 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 24794955 | 132949 | SH |  | SOLE |  | 104459 | 0 | 28490 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 270180 | 1520 | SH |  | SOLE |  | 1045 | 0 | 475 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 276300 | 1500 | SH |  | SOLE |  | 0 | 0 | 1500 |
| PEPSICO INC | COM | 713448108 |  | 612636 | 4269 | SH |  | SOLE |  | 3884 | 0 | 385 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 235163 | 1641 | SH |  | SOLE |  | 1454 | 0 | 187 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 292006 | 656 | SH |  | SOLE |  | 80 | 0 | 576 |
| SABA CAPITAL INCOME  OPRNT | SHS NEW | 78518H202 |  | 72817 | 10387 | SH |  | SOLE |  | 10387 | 0 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 574060 | 2167 | SH |  | SOLE |  | 239 | 0 | 1928 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 708368 | 27006 | SH |  | SOLE |  | 27006 | 0 | 0 |
| SEACOR MARINE HLDGS INC | COM | 78413P101 |  | 277149 | 46038 | SH |  | SOLE |  | 46038 | 0 | 0 |
| SELECT SECTOR SPDR TR | STATE STREET FIN | 81369Y605 |  | 399712 | 7298 | SH |  | SOLE |  | 0 | 0 | 7298 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 17214518 | 43437 | SH |  | SOLE |  | 34459 | 0 | 8978 |
| SPDR INDEX SHS FDS | PORTFLI MSCI GBL | 78463X475 |  | 410783 | 5355 | SH |  | SOLE |  | 5355 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 8380427 | 12289 | SH |  | SOLE |  | 8016 | 0 | 4273 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A854 |  | 8084652 | 100781 | SH |  | SOLE |  | 81671 | 0 | 19110 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A474 |  | 236768 | 7840 | SH |  | SOLE |  | 7840 | 0 | 0 |
| STAGWELL INC | COM CL A | 85256A109 |  | 136920 | 28000 | SH |  | SOLE |  | 28000 | 0 | 0 |
| STARBUCKS CORP | COM | 855244109 |  | 4823152 | 57275 | SH |  | SOLE |  | 43417 | 0 | 13858 |
| STATE STR CORP | COM | 857477103 |  | 248087 | 1923 | SH |  | SOLE |  | 1923 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 243112 | 800 | SH |  | SOLE |  | 625 | 0 | 175 |
| TESLA INC | COM | 88160R101 |  | 438477 | 975 | SH |  | SOLE |  | 975 | 0 | 0 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 9689602 | 16722 | SH |  | SOLE |  | 13109 | 0 | 3613 |
| TJX COS INC NEW | COM | 872540109 |  | 5028424 | 32735 | SH |  | SOLE |  | 23365 | 0 | 9370 |
| TRANSDIGM GROUP INC | COM | 893641100 |  | 518642 | 390 | SH |  | SOLE |  | 0 | 0 | 390 |
| UNION PAC CORP | COM | 907818108 |  | 8446370 | 36514 | SH |  | SOLE |  | 29659 | 0 | 6855 |
| US BANCORP DEL | COM NEW | 902973304 |  | 5928139 | 111087 | SH |  | SOLE |  | 78460 | 0 | 32627 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 6042897 | 18024 | SH |  | SOLE |  | 7684 | 0 | 10340 |
| VANGUARD INDEX FDS | EXTEND MKT ETF | 922908652 |  | 860738 | 4116 | SH |  | SOLE |  | 784 | 0 | 3332 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 778896 | 1242 | SH |  | SOLE |  | 997 | 0 | 245 |
| VANGUARD INSTL INDEX FD | 0-3 MO TREAS BIL | 922040845 |  | 863825 | 11452 | SH |  | SOLE |  | 8223 | 0 | 3229 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 473257 | 3355 | SH |  | SOLE |  | 0 | 0 | 3355 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 1138415 | 22637 | SH |  | SOLE |  | 20614 | 0 | 2023 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 6589019 | 82642 | SH |  | SOLE |  | 65716 | 0 | 16926 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 4106991 | 49039 | SH |  | SOLE |  | 39775 | 0 | 9264 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 3440161 | 55069 | SH |  | SOLE |  | 25060 | 0 | 30009 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 4194947 | 102994 | SH |  | SOLE |  | 74816 | 0 | 28178 |
| VISA INC | COM CL A | 92826C839 |  | 13287045 | 37886 | SH |  | SOLE |  | 30480 | 0 | 7406 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 236584 | 8209 | SH |  | SOLE |  | 8209 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 943743 | 10126 | SH |  | SOLE |  | 676 | 0 | 9450 |
| WILLIAMS COS INC | COM | 969457100 |  | 249177 | 4145 | SH |  | SOLE |  | 4145 | 0 | 0 |
| XYLEM INC | COM | 98419M100 |  | 6840039 | 50228 | SH |  | SOLE |  | 38853 | 0 | 11375 |
| ZOETIS INC | CL A | 98978V103 |  | 3564859 | 28333 | SH |  | SOLE |  | 20336 | 0 | 7997 |

---