CIK: 0001599637
Total reported value
$776.3M
Reporting period: 2026-03-31 · Number of holdings: 88
Permanens Capital L.P. disclosed 88 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $776.3M and a quarterly turnover rate of 71.2%.
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Permanens Capital L.P.'s disclosed holdings carry a Herfindahl concentration index of 0.097 — mathematically equivalent to about 10 equally-sized positions, well below its 88 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.75), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 17% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Add IAU
+68.0% $75.1M
Trim DXJ
-91.8% -$38.4M
Trim VUG
-28.9% -$28.7M
Add BIL
+48.7% $29.8M
Add IEI
+1462.5% $28.6M
Trim BBEU
-63.1% -$26.1M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | IAU | Ishares Gold Trust | ETF-Commodities | 21.41% | +9.53% | +67.98% | |
| 2 | VTV | Vanguard Value ETF | ETF-Other | 15.15% | +1.17% | +6.76% | |
| 3 | BIL | Ss Spdr Bb 1-3m T-bill ETF | ETF-Gov Bonds | 11.66% | +3.75% | +48.74% | |
| 4 | VUG | Vanguard Growth ETF | ETF-Other | 6.46% | -3.82% | -28.93% | |
| 5 | SECU | Ishrs Secur Incom Act ETF | ETF-Other | 5.28% | +5.28% | NEW | |
| 6 | SCHI | Schwab 5-10 Year Corporate B | ETF-Corp Bonds | 3.94% | +3.94% | NEW | |
| 7 | IEI | Ishares 3-7 Year Treasury Bo | ETF-Gov Bonds | 3.94% | +3.68% | +1462.54% | |
| 8 | JPY | Lazard Japanese Equity ETF | ETF-Other | 2.53% | +0.10% | +2.34% | |
| 9 | CCJ | Cameco CORP | Stock-Energy | 2.37% | +0.29% | -2.83% | |
| 10 | PREF | Pri Spe Pre Sec Acti-usd INC | ETF-Other | 2.05% | -2.22% | -50.63% | |
| 11 | BBEU | Jpmorgan Betabuilders Europe | ETF-Other | 1.93% | -3.43% | -63.13% | |
| 12 | IAUM | Ishares Gold Trust Micro | ETF-Commodities | 1.60% | +0.75% | +74.33% | |
| 13 | MSFT | Microsoft CORP | Stock-Tech | 1.49% | -0.10% | +23.48% | |
| 14 | WMT | Walmart INC | Stock-Consumer Staples | 1.39% | +0.13% | +0.33% | |
| 15 | BKR | Baker Hughes Co | Stock-Energy | 1.37% | +1.37% | NEW | |
| 16 | JPM | Jpmorgan Chase & Co | Stock-Financials | 1.29% | +0.14% | +24.16% | |
| 17 | MUFG | Mitsubishi Ufj Finl-spon Adr | Stock-Financials | 1.26% | +0.16% | +7.95% | |
| 18 | ULTA | Ulta Beauty INC | Stock-Consumer Disc | 1.25% | +0.07% | +24.17% | |
| 19 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 1.22% | +1.22% | NEW | |
| 20 | EAGL | Eagle Capital Select Eqty | ETF-Other | 1.17% | -2.22% | -62.64% | |
| 21 | BKLN | Invesco Senior Loan ETF | ETF-Other | 1.01% | +1.01% | NEW | |
| 22 | BRHY | Ishares High Yild Active ETF | ETF-Other | 1.01% | +1.01% | NEW | |
| 23 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.84% | +0.84% | NEW | |
| 24 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.52% | +0.10% | +32.42% | |
| 25 | AMZN | Amazon.com INC | Stock-Consumer Disc | 0.50% | -0.31% | -31.16% | |
| 26 | DXJ | Wisdomtree Japan Hedged Eq | ETF-Other | 0.49% | -5.01% | -91.83% | |
| 27 | NFLX | Netflix INC | Stock-Comm Services | 0.39% | — | +20.85% | |
| 28 | BRT | Brt Apartments CORP | Stock-Other | 0.35% | — | +0.00% | |
| 29 | COP | Conocophillips | Stock-Energy | 0.32% | -0.10% | -44.94% | |
| 30 | META | Meta Platforms Inc-class A | Stock-Comm Services | 0.28% | -0.11% | -15.44% | |
| 31 | TSM | Taiwan Semiconductor-sp Adr | Stock-Tech | 0.23% | -0.13% | -41.94% | |
| 32 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.23% | — | — | |
| 33 | BGC | Bgc Group Inc-a | Stock-Financials | 0.21% | — | — | |
| 34 | MELI | Mercadolibre INC | Stock-Consumer Disc | 0.21% | — | +14.47% | |
| 35 | UNH | Unitedhealth Group INC | Stock-Healthcare | 0.21% | -0.23% | -40.05% | |
| 36 | MA | Mastercard INC - A | Stock-Financials | 0.21% | — | +27.37% | |
| 37 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.20% | -0.18% | -41.22% | |
| 38 | AAPL | Apple INC | Stock-Tech | 0.19% | — | — | |
| 39 | SAP | Sap Se-sponsored Adr | Stock-Tech | 0.19% | — | +12.73% | |
| 40 | DHR | Danaher CORP | Stock-Healthcare | 0.17% | -0.15% | -34.99% | |
| 41 | QQQ | Invesco Qqq Trust Series 1 | ETF-Tech | 0.16% | — | +99.46% | |
| 42 | QLD | Proshares Ultra Qqq | ETF-Other | 0.16% | — | — | |
| 43 | COF | Capital One Financial CORP | Stock-Financials | 0.15% | -0.21% | -41.95% | |
| 44 | SHOP | Shopify INC - Class A | Stock-Tech | 0.15% | — | — | |
| 45 | ARCC | Ares Capital CORP | Stock-Financials | 0.15% | — | — | |
| 46 | WDAY | Workday Inc-class A | Stock-Tech | 0.15% | -0.23% | -34.67% | |
| 47 | CMCSA | Comcast Corp-class A | Stock-Comm Services | 0.14% | -0.14% | -46.65% | |
| 48 | INTU | Intuit INC | Stock-Tech | 0.13% | — | +146.28% | |
| 49 | QXO | Qxo INC | Stock-Industrials | 0.13% | — | +13.64% | |
| 50 | AER | AerCap Holdings N.V. | Stock-Industrials | 0.12% | -0.21% | -60.03% |
Performance for Q3 2026
-2.6%
Performance Last 4 Quarters
+21.5%
Based on 90% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 88 | $776.3M | 71 | |
| 2025-12-31 | 80 | $766.8M | 43 | |
| 2025-09-30 | 62 | $670.5M | 47 | |
| 2025-06-30 | 68 | $733.3M | 0 | |
| 2025-03-31 | 59 | $550.7M | 100 | |
| 2024-12-31 | 53 | $523.7M | 0 | |
| 2024-09-30 | 53 | $492.3M | 0 | |
| 2024-06-30 | 27 | $979.6M | 0 | |
| 2024-03-31 | 26 | $813.9M | 0 | |
| 2023-12-31 | 26 | $513.3M | 0 | |
| 2023-09-30 | 43 | $584.9M | 0 | |
| 2023-06-30 | 30 | $434.5M | 0 | |
| 2023-03-31 | 34 | $461.1M | 0 | |
| 2022-12-31 | 31 | $412.7M | 0 | |
| 2022-09-30 | 34 | $443.6M | 0 | |
| 2022-06-30 | 40 | $497.1M | 0 | |
| 2022-03-31 | 44 | $645.2M | 0 | |
| 2021-12-31 | 44 | $634.8M | 0 | |
| 2021-09-30 | 43 | $551.6M | 0 | |
| 2021-06-30 | 111 | $556.6M | 93 | |
| 2021-03-31 | 147 | $486.7M | 21 | |
| 2020-12-31 | 128 | $475.1M | 52 | |
| 2020-09-30 | 144 | $289.6M | 25 | |
| 2020-06-30 | 113 | $264.7M | 49 | |
| 2020-03-31 | 118 | $316.7M | 41 | |
| 2019-12-31 | 131 | $398.2M | 19 | |
| 2019-09-30 | 106 | $357.5M | 6 | |
| 2019-06-30 | 107 | $352.0M | 10 | |
| 2019-03-31 | 91 | $338.0M | 100 | |
| 2018-12-31 | 21 | $265.6M | 100 | |
| 2018-09-30 | 12 | $294.2M | 27 | |
| 2018-06-30 | 12 | $263.8M | 28 | |
| 2018-03-31 | 23 | $251.3M | 47 | |
| 2017-12-31 | 12 | $270.0M | 9 | |
| 2017-09-30 | 11 | $277.9M | 4 | |
| 2017-06-30 | 11 | $277.5M | 21 | |
| 2017-03-31 | 11 | $268.1M | 19 | |
| 2016-12-31 | 11 | $236.9M | 50 | |
| 2016-09-30 | 12 | $205.2M | 46 | |
| 2016-06-30 | 12 | $164.2M | 57 | |
| 2016-03-31 | 12 | $193.3M | 32 | |
| 2015-12-31 | 11 | $237.6M | 37 | |
| 2015-09-30 | 7 | $162.9M | 60 | |
| 2015-06-30 | 5 | $114.3M | 27 | |
| 2015-03-31 | 6 | $101.5M | 50 | |
| 2014-12-31 | 17 | $97.1M | 100 | |
| 2014-09-30 | 10 | $70.5M | 27 | |
| 2014-06-30 | 10 | $88.4M | 67 | |
| 2014-03-31 | 6 | $89.6M | 31 | |
| 2013-12-31 | 11 | $108.1M | 0 |
Permanens Capital L.P.'s most significant position changes for 2026-03-31: Sold out: Ishares Silver Trust (SLV); New buy: Ishrs Secur Incom Act ETF (SECU); Sold out: Ishares 0-5 Yr Hy CORP Bond (SHYG); New buy: Schwab 5-10 Year Corporate B (SCHI); New buy: Baker Hughes Co (BKR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | IAU | Ishares Gold Trust | +9.5% | +67.98% | Add |
| 2 | BIL | Ss Spdr Bb 1-3m T-bill ETF | +3.8% | +48.74% | Add |
| 3 | IEI | Ishares 3-7 Year Treasury Bo | +3.7% | +1462.54% | Add |
| 4 | VTV | Vanguard Value ETF | +1.2% | +6.76% | Add |
| 5 | IAUM | Ishares Gold Trust Micro | +0.8% | +74.33% | Add |
| 6 | CCJ | Cameco CORP | +0.3% | -2.83% | Trim |
| 7 | MUFG | Mitsubishi Ufj Finl-spon Adr | +0.2% | +7.95% | Add |
| 8 | JPM | Jpmorgan Chase & Co | +0.1% | +24.16% | Add |
| 9 | WMT | Walmart INC | +0.1% | +0.33% | Add |
| 10 | JPY | Lazard Japanese Equity ETF | +0.1% | +2.34% | Add |
| 11 | SPY | Ss Spdr S&p 500 ETF Trust-us | +0.1% | +32.42% | Add |
| 12 | ULTA | Ulta Beauty INC | +0.1% | +24.17% | Add |
| 13 | COP | Conocophillips | -0.1% | -44.94% | Trim |
| 14 | MSFT | Microsoft CORP | -0.1% | +23.48% | Add |
| 15 | META | Meta Platforms Inc-class A | -0.1% | -15.44% | Trim |
| 16 | EL | Estee Lauder Companies-cl A | -0.1% | -41.55% | Trim |
| 17 | HUM | Humana INC | -0.1% | -48.61% | Trim |
| 18 | LEN | Lennar Corp-a | -0.1% | -41.91% | Trim |
| 19 | ASML | ASML Holding N.V. | -0.1% | -67.80% | Trim |
| 20 | TSM | Taiwan Semiconductor-sp Adr | -0.1% | -41.94% | Trim |
| 21 | CMCSA | Comcast Corp-class A | -0.1% | -46.65% | Trim |
| 22 | DHR | Danaher CORP | -0.2% | -34.99% | Trim |
| 23 | WWD | Woodward INC | -0.2% | -66.96% | Trim |
| 24 | GOOG | Alphabet Inc-cl C | -0.2% | -41.22% | Trim |
| 25 | AER | AerCap Holdings N.V. | -0.2% | -60.03% | Trim |
| 26 | COF | Capital One Financial CORP | -0.2% | -41.95% | Trim |
| 27 | WDAY | Workday Inc-class A | -0.2% | -34.67% | Trim |
| 28 | UNH | Unitedhealth Group INC | -0.2% | -40.05% | Trim |
| 29 | AMZN | Amazon.com INC | -0.3% | -31.16% | Trim |
| 30 | EAGL | Eagle Capital Select Eqty | -2.2% | -62.64% | Trim |
| 31 | PREF | Pri Spe Pre Sec Acti-usd INC | -2.2% | -50.63% | Trim |
| 32 | BBEU | Jpmorgan Betabuilders Europe | -3.4% | -63.13% | Trim |
| 33 | VUG | Vanguard Growth ETF | -3.8% | -28.93% | Trim |
| 34 | DXJ | Wisdomtree Japan Hedged Eq | -5% | -91.83% | Trim |
| 35 | SLV | Ishares Silver Trust | — | EXIT | Sold out |
| 36 | SECU | Ishrs Secur Incom Act ETF | — | NEW | New buy |
| 37 | SHYG | Ishares 0-5 Yr Hy CORP Bond | — | EXIT | Sold out |
| 38 | SCHI | Schwab 5-10 Year Corporate B | — | NEW | New buy |
| 39 | BKR | Baker Hughes Co | — | NEW | New buy |
| 40 | UBS | UBS Group AG | — | EXIT | Sold out |
| 41 | BRK-B | Berkshire Hathaway Inc-cl B | — | NEW | New buy |
| 42 | SCHW | Schwab (charles) CORP | — | EXIT | Sold out |
| 43 | BKLN | Invesco Senior Loan ETF | — | NEW | New buy |
| 44 | BRHY | Ishares High Yild Active ETF | — | NEW | New buy |
| 45 | RSP | Invesco S&p 500 Equal Weight | — | NEW | New buy |
| 46 | IGSB | Ishares 1-5y Inv Grade CORP | — | EXIT | Sold out |
| 47 | AON | Aon plc | — | EXIT | Sold out |
| 48 | IEFA | Ishares Core Msci Eafe ETF | — | NEW | New buy |
| 49 | HLT | Hilton Worldwide Holdings In | — | EXIT | Sold out |
| 50 | PTC | Ptc INC | — | EXIT | Sold out |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-13 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-12 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-08-13 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-13 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-02-12 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2020-11-13 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2020-08-13 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-13 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-06 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-09 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-13 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-12 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-13 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-09 | 13F-HR | View on EDGAR |
| 2017-09-30 | 2017-11-14 | 13F-HR | View on EDGAR |
| 2017-06-30 | 2017-08-07 | 13F-HR | View on EDGAR |
| 2017-03-31 | 2017-05-09 | 13F-HR | View on EDGAR |
| 2016-12-31 | 2017-02-14 | 13F-HR | View on EDGAR |
| 2016-09-30 | 2016-11-14 | 13F-HR | View on EDGAR |
| 2016-06-30 | 2016-08-15 | 13F-HR | View on EDGAR |
| 2016-03-31 | 2016-05-16 | 13F-HR | View on EDGAR |
| 2015-12-31 | 2016-02-16 | 13F-HR | View on EDGAR |
| 2015-09-30 | 2015-11-13 | 13F-HR | View on EDGAR |
| 2015-06-30 | 2015-08-14 | 13F-HR | View on EDGAR |
| 2015-03-31 | 2015-05-15 | 13F-HR | View on EDGAR |
| 2014-12-31 | 2015-02-13 | 13F-HR | View on EDGAR |
| 2014-09-30 | 2014-11-14 | 13F-HR | View on EDGAR |
| 2014-06-30 | 2014-08-14 | 13F-HR | View on EDGAR |
| 2014-03-31 | 2014-05-15 | 13F-HR | View on EDGAR |
| 2013-12-31 | 2014-02-14 | 13F-HR | View on EDGAR |
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