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Livermore
Livermore
ZHEN

Perennial Advisors, LLC

SEC CIK
0001697360
Latest filing
Jul 13, 2026

The latest 13F from Perennial Advisors, LLC covers Q2 2026 (filed Jul 13, 2026): 136 long positions worth $649.2M. The top 10 holdings make up 37.9% of the portfolio, and the largest is Apple Inc. (AAPL) at 5.4%. Livermore has 21 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
23
Est. +$25.1M
Added
36
Est. +$16.7M
Reduced
58
Est. −$17.2M
Sold out
9
Est. −$16.8M

Top 5 holdings

Share of this quarter's portfolio value

  1. AAPLApple Inc.
    5.4%$35.2MHistory
  2. GOOGAlphabet Inc.
    4.8%$31.4MHistory
  3. MSFTMicrosoft Corp
    4.3%$28.1MHistory
  4. APHAmphenol Corp
    4.2%$27.6MHistory
  5. NVDANVIDIA Corp
    4.0%$25.8MHistory

Biggest buys

New and added positions, by estimated amount bought

  1. Morgan Stanley ETF Trust61774R833
    +$4.77MNew
  2. HONAHoneywell Aerospace Inc.
    +$4.66MNewHistory
  3. State Street SPDR Portfolio S&P 500 ETF78464A854
    +$3.97MAdded
  4. VanEck Semiconductor ETF92189F676
    +$3.39MNew
  5. AVGOBroadcom Inc.
    +$2.09MAddedHistory

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. Morgan Stanley ETF Trust61774R833
    +0.73 pp0.0% → 0.7%
  2. HONAHoneywell Aerospace Inc.
    +0.72 pp0.0% → 0.7%History
  3. State Street SPDR Portfolio S&P 500 ETF78464A854
    +0.66 pp1.2% → 1.9%
  4. VanEck Semiconductor ETF92189F676
    +0.52 pp0.0% → 0.5%
  5. AVGOBroadcom Inc.
    +0.33 pp0.1% → 0.4%History

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. HONHoneywell International Inc
    −$9.92MSold outHistory
  2. ZTSZoetis Inc.
    −$3.81MSold outHistory
  3. NVSNovartis AG
    −$3.32MReducedHistory
  4. APHAmphenol Corp
    −$2.14MReducedHistory
  5. MDLZMondelez International, Inc.
    −$1.83MReducedHistory

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. HONHoneywell International Inc
    −1.69 pp1.7% → 0.0%History
  2. ZTSZoetis Inc.
    −0.65 pp0.6% → 0.0%History
  3. NVSNovartis AG
    −0.59 pp1.1% → 0.5%History
  4. FDXFedEx Corp
    −0.39 pp1.6% → 1.2%History
  5. COSTCostco Wholesale Corp
    −0.38 pp2.3% → 1.9%History

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$649.2M
+$62.0M (+10.6%) vs. prior quarter
Positions
136
+14 vs. prior quarter
Top 10 concentration
37.9%
Top 10 as share of value
Turnover
5.5%
Q2 2026, one quarter
Average holding period
6.5 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

21 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $649.2M (Q2 2026)

Q1 2021: $317.8MQ2 2021: $344.5MQ3 2021: $339.5MQ4 2021: $371.1MQ1 2022: $376.6MQ2 2022: $321.2MQ3 2022: $304.8MQ4 2022: $314.3MQ1 2023: $349.5MQ2 2023: $392.3MQ3 2023: $370.8MQ4 2023: $406.5MQ1 2024: $429.7MQ2 2024: $445.9MQ4 2024: $459.4MQ1 2025: $501.3MQ2 2025: $538.3MQ3 2025: $577.4MQ4 2025: $596.4MQ1 2026: $587.2MQ2 2026: $649.2M
Q1 2021Q2 2026
13F filings of Perennial Advisors, LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Jul 13, 2026136$649.2MAAPLGOOGMSFTvs. Q1 2026SEC
Q1 2026Apr 13, 2026122$587.2MAAPLMSFTGOOGvs. Q4 2025SEC
Q4 2025Jan 12, 2026127$596.4MMSFTAAPLGOOGvs. Q3 2025SEC
Q3 2025Oct 14, 2025126$577.4MMSFTAAPLNVDAvs. Q2 2025SEC
Q2 2025Jul 15, 2025122$538.3MMSFTAAPLBRK.Avs. Q1 2025SEC
Q1 2025Apr 14, 2025112$501.3MMSFTAAPLBRK.Avs. Q4 2024SEC
Q4 2024Feb 21, 202576$459.4MMSFTAAPLNVDA–SEC
Q2 2024Jul 23, 2024111$445.9MMSFTAAPLNVDAvs. Q1 2024SEC
Q1 2024Apr 10, 2024110$429.7MMSFTAAPLAMZNvs. Q4 2023SEC
Q4 2023Jan 25, 2024114$406.5MMSFTAAPLGOOGvs. Q3 2023SEC
Q3 2023Oct 17, 2023108$370.8MMSFTAAPLGOOGvs. Q2 2023SEC
Q2 2023Aug 1, 2023116$392.3MMSFTAAPLGOOGvs. Q1 2023SEC
Q1 2023May 12, 2023111$349.5MMSFTAAPLiShares Trust iShares 0-1 Year Treasury Bond ETFvs. Q4 2022SEC
Q4 2022Jan 31, 202388$314.3MMSFTAAPLATVIvs. Q3 2022SEC
Q3 2022Nov 9, 202287$304.8MAAPLMSFTGOOGvs. Q2 2022SEC
Q2 2022Aug 9, 202287$321.2MAAPLMSFTGOOGvs. Q1 2022SEC
Q1 2022Apr 27, 202291$376.6MAAPLMSFTGOOGvs. Q4 2021SEC
Q4 2021Feb 8, 202285$371.1MAAPLMSFTGOOGvs. Q3 2021SEC
Q3 2021Nov 8, 202180$339.5MAAPLMSFTGOOGvs. Q2 2021SEC
Q2 2021Aug 13, 2021298$344.5MAAPLMSFTGOOGvs. Q1 2021SEC
Q1 2021May 17, 2021295$317.8MAAPLMSFTATVI–SEC