# EDGAR Filing Document

**Accession Number:** 0001697360
**File Stem:** 0001697360-25-000006
**Filing Date:** 2025-10
**Character Count:** 16248
**Document Hash:** a8c36428ffceb240441aa85a327a7acc
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001697360-25-000006.hdr.sgml**: 20251014

**ACCESSION NUMBER**: 0001697360-25-000006

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251014

**DATE AS OF CHANGE**: 20251014

**EFFECTIVENESS DATE**: 20251014

**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:** 251390174

**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:** 09-30-2025

**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:** 212-652-3900

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

Christopher Heintz  New York, NY  10-14-2025<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:** $577387354

      (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 |
| MICROSOFT CORP | COM | 594918104 |  | 38163800 | 73682 | SH |  | SOLE |  | 58974 | 0 | 14708 |
| APPLE INC | COM | 037833100 |  | 30923092 | 121443 | SH |  | SOLE |  | 98153 | 0 | 23290 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 25590162 | 137154 | SH |  | SOLE |  | 118990 | 0 | 18164 |
| BERKSHIRE HATHAWAY INC DEL | CL A | 084670108 |  | 24888600 | 33 | SH |  | SOLE |  | 31 | 0 | 2 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 21980389 | 90250 | SH |  | SOLE |  | 75214 | 0 | 15036 |
| AMPHENOL CORP NEW | CL A | 032095101 |  | 21760476 | 175841 | SH |  | SOLE |  | 153411 | 0 | 22430 |
| AMAZON COM INC | COM | 023135106 |  | 18958763 | 86345 | SH |  | SOLE |  | 68644 | 0 | 17701 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 17645251 | 55940 | SH |  | SOLE |  | 47726 | 0 | 8214 |
| AMERICAN EXPRESS CO | COM | 025816109 |  | 16081052 | 48414 | SH |  | SOLE |  | 42364 | 0 | 6050 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 15214827 | 42802 | SH |  | SOLE |  | 36286 | 0 | 6516 |
| KKR  CO INC | COM | 48251W104 |  | 14581625 | 112210 | SH |  | SOLE |  | 100639 | 0 | 11571 |
| MASTERCARD INCORPORATED | CL A | 57636Q104 |  | 13892483 | 24424 | SH |  | SOLE |  | 21774 | 0 | 2650 |
| VISA INC | COM CL A | 92826C839 |  | 12631366 | 37001 | SH |  | SOLE |  | 31247 | 0 | 5754 |
| COSTCO WHSL CORP NEW | COM | 22160K105 |  | 12265891 | 13251 | SH |  | SOLE |  | 11547 | 0 | 1704 |
| META PLATFORMS INC | CL A | 30303M102 |  | 12015926 | 16362 | SH |  | SOLE |  | 12766 | 0 | 3596 |
| FISERV INC | COM | 337738108 |  | 9617534 | 74595 | SH |  | SOLE |  | 65679 | 0 | 8916 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHRT ETF | 46641Q837 |  | 9425305 | 185794 | SH |  | SOLE |  | 148246 | 0 | 37548 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 9220973 | 49730 | SH |  | SOLE |  | 42875 | 0 | 6855 |
| HONEYWELL INTL INC | COM | 438516106 |  | 9017270 | 42837 | SH |  | SOLE |  | 35972 | 0 | 6865 |
| CISCO SYS INC | COM | 17275R102 |  | 9004226 | 131602 | SH |  | SOLE |  | 98074 | 0 | 33528 |
| GENERAL DYNAMICS CORP | COM | 369550108 |  | 8425064 | 24707 | SH |  | SOLE |  | 19528 | 0 | 5179 |
| UNION PAC CORP | COM | 907818108 |  | 8361828 | 35376 | SH |  | SOLE |  | 30175 | 0 | 5201 |
| ISHARES TR | FLTG RATE NT ETF | 46429B655 |  | 8340192 | 163261 | SH |  | SOLE |  | 131967 | 0 | 31294 |
| MCDONALDS CORP | COM | 580135101 |  | 8077741 | 26581 | SH |  | SOLE |  | 22272 | 0 | 4309 |
| AIR PRODS  CHEMS INC | COM | 009158106 |  | 7996591 | 29322 | SH |  | SOLE |  | 24651 | 0 | 4671 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 7955731 | 11942 | SH |  | SOLE |  | 7731 | 0 | 4211 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 7814105 | 16111 | SH |  | SOLE |  | 13629 | 0 | 2482 |
| XYLEM INC | COM | 98419M100 |  | 7287243 | 49405 | SH |  | SOLE |  | 41179 | 0 | 8226 |
| DISNEY WALT CO | COM | 254687106 |  | 7115146 | 62141 | SH |  | SOLE |  | 50668 | 0 | 11473 |
| VANGUARD SCOTTSDALE FDS | SHRT TRM CORP BD | 92206C409 |  | 6480697 | 81080 | SH |  | SOLE |  | 68608 | 0 | 12472 |
| AMERICAN WTR WKS CO INC NEW | COM | 030420103 |  | 6347404 | 45602 | SH |  | SOLE |  | 37729 | 0 | 7873 |
| FEDEX CORP | COM | 31428X106 |  | 6330034 | 26842 | SH |  | SOLE |  | 21927 | 0 | 4915 |
| HOME DEPOT INC | COM | 437076102 |  | 5724824 | 14129 | SH |  | SOLE |  | 11335 | 0 | 2794 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 5715500 | 17416 | SH |  | SOLE |  | 7659 | 0 | 9757 |
| MEDTRONIC PLC | SHS | G5960L103 |  | 5616690 | 58971 | SH |  | SOLE |  | 47609 | 0 | 11362 |
| AMGEN INC | COM | 031162100 |  | 5468124 | 19377 | SH |  | SOLE |  | 16274 | 0 | 3103 |
| NOVARTIS AG | SPONSORED ADR | 66987V109 |  | 5378001 | 41937 | SH |  | SOLE |  | 33130 | 0 | 8807 |
| US BANCORP DEL | COM NEW | 902973304 |  | 5017760 | 103812 | SH |  | SOLE |  | 80501 | 0 | 23311 |
| SPDR SERIES TRUST | PORTFOLIO S | 78464A854 |  | 4650106 | 59358 | SH |  | SOLE |  | 49304 | 0 | 10054 |
| STARBUCKS CORP | COM | 855244109 |  | 4636853 | 54809 | SH |  | SOLE |  | 45276 | 0 | 9533 |
| APPLIED MATLS INC | COM | 038222105 |  | 4603375 | 22484 | SH |  | SOLE |  | 8402 | 0 | 14082 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 4557099 | 72940 | SH |  | SOLE |  | 58987 | 0 | 13953 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 4528186 | 103030 | SH |  | SOLE |  | 82281 | 0 | 20749 |
| TJX COS INC NEW | COM | 872540109 |  | 4509793 | 31201 | SH |  | SOLE |  | 23968 | 0 | 7233 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 4401044 | 215632 | SH |  | SOLE |  | 170568 | 0 | 45064 |
| ZOETIS INC | CL A | 98978V103 |  | 4258059 | 29101 | SH |  | SOLE |  | 23305 | 0 | 5796 |
| VANGUARD SCOTTSDALE FDS | INT-TERM CORP | 92206C870 |  | 4003442 | 47598 | SH |  | SOLE |  | 38656 | 0 | 8942 |
| ISHARES TR | PFD AND INCM SEC | 464288687 |  | 3878763 | 122668 | SH |  | SOLE |  | 102795 | 0 | 19873 |
| J P MORGAN EXCHANGE TRADED F | ULTRA SHT MUNCPL | 46641Q654 |  | 3856226 | 75553 | SH |  | SOLE |  | 60420 | 0 | 15133 |
| FASTENAL CO | COM | 311900104 |  | 3810408 | 77700 | SH |  | SOLE |  | 77700 | 0 | 0 |
| ADOBE INC | COM | 00724F101 |  | 3390281 | 9611 | SH |  | SOLE |  | 7429 | 0 | 2182 |
| LEAR CORP | COM NEW | 521865204 |  | 3364617 | 33442 | SH |  | SOLE |  | 27466 | 0 | 5976 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 3136303 | 37805 | SH |  | SOLE |  | 26247 | 0 | 11558 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 2731693 | 45589 | SH |  | SOLE |  | 23791 | 0 | 21798 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 2641178 | 19725 | SH |  | SOLE |  | 0 | 0 | 19725 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 2424537 | 4038 | SH |  | SOLE |  | 99 | 0 | 3939 |
| INVESCO EXCH TRADED FD TR II | SR LN ETF | 46138G508 |  | 2421724 | 115706 | SH |  | SOLE |  | 91176 | 0 | 24530 |
| NIKE INC | CL B | 654106103 |  | 2325984 | 33355 | SH |  | SOLE |  | 27168 | 0 | 6187 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 2244081 | 9231 | SH |  | SOLE |  | 6655 | 0 | 2576 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 2185948 | 2258 | SH |  | SOLE |  | 1864 | 0 | 394 |
| ISHARES TR | SHORT TREAS BD | 464288679 |  | 1343338 | 12158 | SH |  | SOLE |  | 8957 | 0 | 3201 |
| ISHARES TR | NEW YORK MUN ETF | 464288323 |  | 1339352 | 25105 | SH |  | SOLE |  | 25105 | 0 | 0 |
| EAGLE MATLS INC | COM | 26969P108 |  | 1186873 | 5093 | SH |  | SOLE |  | 0 | 0 | 5093 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 1149374 | 10194 | SH |  | SOLE |  | 9730 | 0 | 464 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 1144539 | 1869 | SH |  | SOLE |  | 964 | 0 | 905 |
| VANGUARD MUN BD FDS | TAX EXEMPT BD | 922907746 |  | 1138192 | 22732 | SH |  | SOLE |  | 20597 | 0 | 2135 |
| KLA CORP | COM NEW | 482480100 |  | 1066736 | 989 | SH |  | SOLE |  | 0 | 0 | 989 |
| GATX CORP | COM | 361448103 |  | 1044955 | 5978 | SH |  | SOLE |  | 0 | 0 | 5978 |
| SPDR SERIES TRUST | PORTFOLIO SH TSR | 78468R101 |  | 879600 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 848466 | 10122 | SH |  | SOLE |  | 672 | 0 | 9450 |
| VANGUARD INDEX FDS | EXTEND MKT ETF | 922908652 |  | 815170 | 3894 | SH |  | SOLE |  | 794 | 0 | 3100 |
| SCHWAB STRATEGIC TR | US BRD MKT ETF | 808524102 |  | 700452 | 27244 | SH |  | SOLE |  | 27244 | 0 | 0 |
| CHEVRON CORP NEW | COM | 166764100 |  | 650562 | 4189 | SH |  | SOLE |  | 3825 | 0 | 364 |
| NETFLIX INC | COM | 64110L106 |  | 643821 | 537 | SH |  | SOLE |  | 222 | 0 | 315 |
| J P MORGAN EXCHANGE TRADED F | MUNICIPAL ETF | 46641Q647 |  | 634661 | 12575 | SH |  | SOLE |  | 9075 | 0 | 3500 |
| NEBIUS GROUP N.V. | SHS CLASS A | N97284108 |  | 578752 | 5155 | SH |  | SOLE |  | 5155 | 0 | 0 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 574925 | 8845 | SH |  | SOLE |  | 3760 | 0 | 5085 |
| CENTURY ALUM CO | COM | 156431108 |  | 568645 | 19368 | SH |  | SOLE |  | 19368 | 0 | 0 |
| EATON CORP PLC | SHS | G29183103 |  | 566615 | 1514 | SH |  | SOLE |  | 1514 | 0 | 0 |
| PEPSICO INC | COM | 713448108 |  | 557357 | 3969 | SH |  | SOLE |  | 3884 | 0 | 85 |
| ISHARES TR | 0-3 MNTH TREASRY | 46436E718 |  | 532502 | 5288 | SH |  | SOLE |  | 4818 | 0 | 470 |
| FIDELITY COVINGTON TRUST | ENHANCED LARGE | 31609A305 |  | 521196 | 12675 | SH |  | SOLE |  | 12675 | 0 | 0 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 518818 | 2814 | SH |  | SOLE |  | 2219 | 0 | 595 |
| TRANSDIGM GROUP INC | COM | 893641100 |  | 514028 | 390 | SH |  | SOLE |  | 0 | 0 | 390 |
| SALESFORCE INC | COM | 79466L302 |  | 507417 | 2141 | SH |  | SOLE |  | 239 | 0 | 1902 |
| BROADCOM INC | COM | 11135F101 |  | 487961 | 1479 | SH |  | SOLE |  | 1404 | 0 | 75 |
| INVESCO QQQ TR | PUT | 46090E103 |  | 480296 | 800 | PRN |  | SOLE |  | 0 | 0 | 800 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 462319 | 3355 | SH |  | SOLE |  | 0 | 0 | 3355 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 443116 | 946 | SH |  | SOLE |  | 0 | 0 | 946 |
| BANK AMERICA CORP | COM | 060505104 |  | 441714 | 8562 | SH |  | SOLE |  | 900 | 0 | 7662 |
| TESLA INC | COM | 88160R101 |  | 433602 | 975 | SH |  | SOLE |  | 975 | 0 | 0 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 410543 | 1455 | SH |  | SOLE |  | 946 | 0 | 509 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 393144 | 7298 | SH |  | SOLE |  | 0 | 0 | 7298 |
| AUTOMATIC DATA PROCESSING IN | COM | 053015103 |  | 390355 | 1330 | SH |  | SOLE |  | 1240 | 0 | 90 |
| SPDR INDEX SHS FDS | PORTFLI MSCI GBL | 78463X475 |  | 381990 | 5100 | SH |  | SOLE |  | 5100 | 0 | 0 |
| HP INC | COM | 40434L105 |  | 367605 | 13500 | SH |  | SOLE |  | 0 | 0 | 13500 |
| SPDR SERIES TRUST | PORTFOLIO SHORT | 78464A474 |  | 359240 | 11860 | SH |  | SOLE |  | 11860 | 0 | 0 |
| BOOKING HOLDINGS INC | COM | 09857L108 |  | 334755 | 62 | SH |  | SOLE |  | 0 | 0 | 62 |
| BLACKSTONE INC | COM | 09260D107 |  | 327555 | 1917 | SH |  | SOLE |  | 1217 | 0 | 700 |
| ROPER TECHNOLOGIES INC | COM | 776696106 |  | 327141 | 656 | SH |  | SOLE |  | 80 | 0 | 576 |
| CHURCHILL CAP CORP X | SHS CL A | G2130T108 |  | 321500 | 25000 | SH |  | SOLE |  | 25000 | 0 | 0 |
| MERCK  CO INC | COM | 58933Y105 |  | 316751 | 3774 | SH |  | SOLE |  | 3774 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 307257 | 9779 | SH |  | SOLE |  | 1279 | 0 | 8500 |
| SEACOR MARINE HLDGS INC | COM | 78413P101 |  | 298787 | 46038 | SH |  | SOLE |  | 46038 | 0 | 0 |
| AT INC | COM | 00206R102 |  | 285096 | 10095 | SH |  | SOLE |  | 10095 | 0 | 0 |
| PALO ALTO NETWORKS INC | COM | 697435105 |  | 280996 | 1380 | SH |  | SOLE |  | 0 | 0 | 1380 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 278191 | 1525 | SH |  | SOLE |  | 1045 | 0 | 480 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824C109 |  | 270897 | 11030 | SH |  | SOLE |  | 0 | 0 | 11030 |
| WILLIAMS COS INC | COM | 969457100 |  | 262608 | 4145 | SH |  | SOLE |  | 4145 | 0 | 0 |
| BLACKROCK INC | COM | 09290D101 |  | 253949 | 218 | SH |  | SOLE |  | 116 | 0 | 102 |
| BRISTOW GROUP INC | COM | 11040G103 |  | 253462 | 7025 | SH |  | SOLE |  | 7025 | 0 | 0 |
| CHIPOTLE MEXICAN GRILL INC | COM | 169656105 |  | 249523 | 6367 | SH |  | SOLE |  | 3217 | 0 | 3150 |
| LOCKHEED MARTIN CORP | COM | 539830109 |  | 244114 | 489 | SH |  | SOLE |  | 489 | 0 | 0 |
| APOLLO GLOBAL MGMT INC | COM | 03769M106 |  | 239886 | 1800 | SH |  | SOLE |  | 1800 | 0 | 0 |
| STATE STR CORP | COM | 857477103 |  | 231788 | 1998 | SH |  | SOLE |  | 1998 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 231202 | 1071 | SH |  | SOLE |  | 1071 | 0 | 0 |
| 3M CO | COM | 88579Y101 |  | 225213 | 1451 | SH |  | SOLE |  | 1451 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 223432 | 800 | SH |  | SOLE |  | 625 | 0 | 175 |
| PROCTER AND GAMBLE CO | COM | 742718109 |  | 220960 | 1438 | SH |  | SOLE |  | 1416 | 0 | 22 |
| WARNER BROS DISCOVERY INC | COM SER A | 934423104 |  | 218912 | 11209 | SH |  | SOLE |  | 11209 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 209054 | 4934 | SH |  | SOLE |  | 4934 | 0 | 0 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 205881 | 2205 | SH |  | SOLE |  | 2205 | 0 | 0 |
| ELECTRONIC ARTS INC | COM | 285512109 |  | 205533 | 1019 | SH |  | SOLE |  | 1019 | 0 | 0 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 202174 | 979 | SH |  | SOLE |  | 490 | 0 | 489 |
| STAGWELL INC | COM CL A | 85256A109 |  | 168900 | 30000 | SH |  | SOLE |  | 30000 | 0 | 0 |
| ASP ISOTOPES INC | COM | 00218A105 |  | 144300 | 15000 | SH |  | SOLE |  | 15000 | 0 | 0 |
| SABA CAPITAL INCOME  OPRNT | SHS NEW | 78518H202 |  | 77920 | 10028 | SH |  | SOLE |  | 10028 | 0 | 0 |

---