Perennial Advisors Portfolio holdings

AUM $538M

2025 Q2 2025 Q1 2024 Q4 2024 Q2 2024 Q1 2023 Q4 2023 Q3 2023 Q2 2023 Q1 2022 Q4 2022 Q3 2022 Q2 2022 Q1 2021 Q4 2021 Q3 2021 Q2 2021 Q1 2020 Q4 2020 Q3 2020 Q2 2020 Q1 2019 Q4 2019 Q3 2019 Q2 2019 Q1 2018 Q4 2018 Q3 2018 Q2 2018 Q1 2017 Q4 2017 Q3 2017 Q2 2017 Q1 2016 Q4

This Quarter Return

+6.39%

1 Year Return

–

3 Year Return

–

5 Year Return

–

10 Year Return

–

AUM

$344M

AUM Growth

+$344M (+8.4%)

Cap. Flow

+$7.71M

Cap. Flow % of AUM

2.24%

Top 10 Holdings % Top 10 Hldgs %

31.84%

Holding

306

New

Increased

Reduced

Closed

Top Buys

1	iShares Floating Rate Bond ETF FLOT	$645K
2	JPMorgan Ultra-Short Income ETF JPST	$621K
3	Vanguard Short-Term Corporate Bond ETF VCSH	$409K
4	Vanguard Intermediate-Term Corporate Bond ETF VCIT	$382K
5	Invesco Senior Loan ETF BKLN	$360K

Top Sells

1	Apple AAPL	$178K
2	iShares Gold Trust IAU	$148K
3	KKR & Co KKR	$146K
4	IonQ IONQ	$105K
5	SPDR S&P 500 ETF Trust SPY	$104K

Sector Composition

1	Technology	19.19%
2	Financials	15.83%
3	Industrials	10.31%
4	Communication Services	10.02%
5	Healthcare	9.76%

Communication Services

Advertising Agencies

Broadcasting

Electronic Gaming & Multimedia

Entertainment

Internet Content & Information

Publishing

Telecom Services

Consumer Discretionary

Apparel Manufacturing

Apparel Retail

Auto Manufacturers

Auto Parts

Auto & Truck Dealerships

Department Stores

Footwear & Accessories

Furnishings, Fixtures & Appliances

Gambling

Home Improvement Retail

Internet Retail

Leisure

Lodging

Luxury Goods

Packaging & Containers

Personal Services

Recreational Vehicles

Residential Construction

Resorts & Casinos

Restaurants

Specialty Retail

Textile Manufacturing

Travel Services

Consumer Staples

Beverages - Brewers

Beverages - Non-Alcoholic

Beverages - Wineries & Distilleries

Confectioners

Discount Stores

Education & Training Services

Farm Products

Food Distribution

Grocery Stores

Household & Personal Products

Packaged Foods

Tobacco

Energy

Oil & Gas Drilling

Oil & Gas Equipment & Services

Oil & Gas Exploration & Production

Oil & Gas Integrated

Oil & Gas Midstream

Oil & Gas Refining & Marketing

Thermal Coal

Uranium

Financials

Asset Management

Banks - Diversified

Banks - Regional

Capital Markets

Credit Services

Diversified Insurance

Financial Conglomerates

Financial Data & Stock Exchanges

Insurance Brokers

Life Insurance

Mortgage Finance

Property & Casualty Insurance

Reinsurance

Shell Companies

Specialty - Insurance

Healthcare

Biotechnology

Diagnostics & Research

Drug Manufacturers - General

Drug Manufacturers - Specialty & Generic

Healthcare Plans

Health Information Services

Medical Care Facilities

Medical Devices

Medical Distribution

Medical Instruments & Supplies

Pharmaceutical Retailers

Industrials

Aerospace & Defense

Airlines

Airports & Air Services

Building Products & Equipment

Business Equipment & Supplies

Conglomerates

Consulting Services

Electrical Equipment & Parts

Engineering & Construction

Farm & Heavy Construction Machinery

Industrial Distribution

Infrastructure Operations

Integrated Freight & Logistics

Marine Shipping

Metal Fabrication

Pollution & Treatment Controls

Railroads

Rental & Leasing Services

Security & Protection Services

Specialty Business Services

Specialty Industrial Machinery

Staffing & Employment Services

Tools & Accessories

Trucking

Waste Management

Materials

Agricultural Inputs

Aluminum

Building Materials

Chemicals

Coking Coal

Copper

Gold

Lumber & Wood Production

Other Industrial Metals & Mining

Other Precious Metals & Mining

Paper & Paper Products

Silver

Specialty Chemicals

Steel

Real Estate

Diversified REIT

Healthcare Facilities REIT

Hotel & Motel REIT

Industrial REIT

Mortgage REIT

Office REIT

Real Estate Development

Real Estate Diversified

Real Estate Services

Residential REIT

Retail REIT

Specialty REIT

Technology

Communication Equipment

Computer Hardware

Consumer Electronics

Electronic Components

Electronics & Computer Distribution

Information Technology Services

Scientific & Technical Instruments

Semiconductor Equipment & Materials

Semiconductors

Software - Application

Software - Infrastructure

Solar

Utilities

Diversified Utilities

Electric Utilities

Gas Utilities

Independent Power Producers

Renewable Electricity

Water Utilities

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
201	201 Brown-Forman Class B BF.B $14.2B	$23K	0.01%	310	–	–
202	202 Intuitive Surgical ISRG $170B	$23K	0.01%	25	–	–
203	203 iShares New York Muni Bond ETF NYF $900M	$23K	0.01%	400 -100	-20%	-$5.75K
204	204 Realty Income O $53.7B	$23K	0.01%	341	–	–
205	205 Equifax EFX $30.3B	$22K	0.01%	+90	New	+$22K
206	206 Linde LIN $224B	$22K	0.01%	+75	New	+$22K
207	207 IonQ IONQ $12.7B	$21K	0.01%	2,000 -10,000	-83%	-$105K
208	208 Kimberly-Clark KMB $42.8B	$21K	0.01%	156	–	–
209	SPLK 209 DELISTED Splunk Inc SPLK	$21K	0.01%	145	–	–
210	210 Illinois Tool Works ITW $77.1B	$20K	0.01%	90	–	–
211	211 iShares Russell Mid-Cap ETF IWR $44.4B	$20K	0.01%	254	–	–
212	212 Chewy CHWY $16.9B	$19K	0.01%	242	–	–
213	213 Automatic Data Processing ADP $123B	$18K	0.01%	90	–	–
214	214 Carrier Global CARR $55.5B	$18K	0.01%	361	–	–
215	215 Emerson Electric EMR $74.3B	$18K	0.01%	185	–	–
216	216 NIO NIO $14.3B	$18K	0.01%	335	–	–
217	217 Roblox RBLX $86.4B	$18K	0.01%	200	–	–
218	218 iShares MSCI China ETF MCHI $7.91B	$17K	﹤0.01%	204	–	–
219	219 Starwood Property Trust STWD $7.44B	$17K	﹤0.01%	655	–	–
220	220 Adaptive Biotechnologies ADPT $2.01B	$16K	﹤0.01%	400	–	–
221	221 Aflac AFL $57.2B	$16K	﹤0.01%	+300	New	+$16K
222	222 Exelon EXC $44.1B	$16K	﹤0.01%	370	–	–
223	223 SPDR S&P Regional Banking ETF KRE $3.99B	$16K	﹤0.01%	247	–	–
224	224 Altria Group MO $113B	$16K	﹤0.01%	329	–	–
225	225 Morgan Stanley MS $240B	$15K	﹤0.01%	168	–	–