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Permanens Capital L.P.

Q4 2025 · Filed 2026-02-17
Market Value
$767M
+14.4%
Holdings
88
-5
New Purchases
27
Added To
35
Closed
8
Reduced
8
Top 10 Concentration
74.9%
Turnover
39.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BBEU 5.36% 0.06% +5.30% $41M
IAU 11.88% 9.67% +2.22% $91M
BIL 7.91% 6.05% +1.87% $61M
SLV 7.56% 5.89% +1.67% $58M
IAUM 0.85% 0.00% +0.85% $7M
AMZN 0.81% 0.16% +0.65% $6M
MSFT 1.59% 1.02% +0.58% $12M
COP 0.42% 0.00% +0.42% $3M
GOOG 0.38% 0.00% +0.38% $3M
WDAY 0.38% 0.00% +0.38% $3M
TSM 0.36% 0.00% +0.36% $3M
COF 0.36% 0.00% +0.36% $3M
AER 0.33% 0.00% +0.33% $3M
UBS 1.25% 0.93% +0.32% $10M
DHR 0.32% 0.00% +0.32% $2M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
VUG 10.28% 18.18% -7.90% $79M
DBEU 0.00% 5.66% -5.66% $0
VTV 13.98% 18.35% -4.37% $107M
UNH 0.44% 1.02% -0.58% $3M
IBIT 0.00% 0.52% -0.52% $0
SHYG 4.74% 5.08% -0.34% $36M
ETHA 0.00% 0.18% -0.18% $0
EAGL 3.39% 3.56% -0.17% $26M
JPY 2.43% 2.60% -0.17% $19M
DELL 0.00% 0.09% -0.09% $0
BRT 0.39% 0.48% -0.09% $3M
WULF 0.00% 0.08% -0.08% $0
DXJ 5.50% 5.57% -0.07% $42M
BGC 0.20% 0.24% -0.04% $2M
BRK-B 0.00% 0.03% -0.03% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 24 $260M 34.0%
Large Cap 38 $295M 38.4%
Mid Cap 11 $155M 20.3%
Small Cap 9 $34M 4.4%
Micro Cap 6 $23M 3.0%

Portfolio Analytics

Avg Market Cap
$448.7B
Median Market Cap
$41.3B
Avg P/E
31.0
Median P/E
28.0
Avg Dividend Yield
0.03%
Avg Beta
1.02
# Stocks
61
# ETFs / Funds
27

Top Holdings (88 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 VTV 13.98% 561,293 $107M $190.99 -$16M -95,062 -14.5%
2 IAU 11.88% 1,122,462 $91M $81.17 $26M +232,207 +26.1%
3 VUG 10.28% 161,547 $79M $487.86 -$43M -92,228 -36.3%
4 BIL 7.91% 664,112 $61M $91.38 $20M +222,472 +50.4%
5 SLV 7.56% 900,242 $58M $64.42 $19M -31,741 -3.4%
6 DXJ 5.50% 292,755 $42M $144.16 $5M +1,022 +0.3%
7 BBEU 5.36% 560,278 $41M $73.30 $41M +554,518 +9627.0%
8 SHYG 4.74% 847,010 $36M $42.87 $2M +60,945 +7.8%
9 PREF 4.27% 1,715,767 $33M $19.07 $5M +247,253 +16.8%
10 EAGL 3.39% 800,671 $26M $32.46 $2M +36,647 +4.8%
11 JPY 2.43% 582,605 $19M $32.00 $1M +27,006 +4.9%
12 CCJ 2.08% 174,183 $16M $91.49 $2M +7,535 +4.5%
13 MSFT 1.59% 25,224 $12M $483.62 $5M +12,082 +91.9%
14 WMT 1.26% 86,403 $10M $111.65 $3M +19,814 +29.8%
15 UBS 1.25% 207,412 $10M $46.31 $3M +55,495 +36.5%
16 ULTA 1.18% 14,966 $9M $605.01 $3M +3,730 +33.2%
17 JPM 1.15% 27,436 $9M $322.22 $2M +6,315 +29.9%
18 SCHW 1.11% 85,461 $9M $99.91 $3M +22,874 +36.5%
19 MUFG 1.10% 533,233 $8M $15.86 $2M +137,960 +34.9%
20 IAUM 0.85% 152,381 $7M $42.99 +152,381 NEW
21 AMZN 0.81% 26,864 $6M $230.82 $5M +22,050 +458.0%
22 UNH 0.44% 10,150 $3M $330.11 -$3M -9,634 -48.7%
23 COP 0.42% 34,632 $3M $93.61 +34,632 NEW
24 SPY 0.42% 4,707 $3M $683.91 $334K +389 +9.0%
25 META 0.39% 4,553 $3M $660.09 $2M +2,918 +178.5%
26 BRT 0.39% 201,264 $3M $14.90 -$193K +1
27 GOOG 0.38% 9,363 $3M $313.80 +9,363 NEW
28 WDAY 0.38% 13,510 $3M $214.78 +13,510 NEW
29 TSM 0.36% 9,083 $3M $304.69 +9,083 NEW
30 COF 0.36% 11,278 $3M $242.36 +11,278 NEW
31 AER 0.33% 17,516 $3M $143.76 +17,516 NEW
32 NFLX 0.32% 26,296 $2M $93.76 $144K +24,360 +1258.3%
33 DHR 0.32% 10,598 $2M $229.24 +10,598 NEW
34 WWD 0.29% 7,437 $2M $302.32 +7,437 NEW
35 CMCSA 0.28% 71,047 $2M $29.89 +71,047 NEW
36 IEI 0.26% 16,508 $2M $119.35 $106K +912 +5.8%
37 IGSB 0.26% 37,203 $2M $52.88 $104K +2,060 +5.9%
38 LEN 0.25% 18,917 $2M $102.80 +18,917 NEW
39 GOOGL 0.25% 6,110 $2M $313.00 $850K +1,741 +39.9%
40 SAP 0.24% 7,535 $2M $242.91 +7,535 NEW
41 MELI 0.22% 836 $2M $2,014.26 $1M +718 +608.5%
42 ASML 0.21% 1,531 $2M $1,069.86 +1,531 NEW
43 SHOP 0.21% 10,030 $2M $160.97 $436K +2,103 +26.5%
44 AAPL 0.21% 5,803 $2M $271.86 $285K +728 +14.3%
45 EL 0.20% 14,792 $2M $104.72 +14,792 NEW
46 BGC 0.20% 170,000 $2M $8.93 -$90K
47 AA 0.19% 27,511 $1M $53.14 +27,511 NEW
48 QLD 0.19% 20,750 $1M $70.41 $280K +12,145 +141.1%
49 MA 0.19% 2,521 $1M $570.88 $320K +554 +28.2%
50 HUM 0.18% 5,474 $1M $257.01 +5,474 NEW
51 AON 0.18% 3,877 $1M $352.88 +3,877 NEW
52 ARCC 0.17% 65,544 $1M $20.23 -$12K
53 SHEL 0.15% 15,210 $1M $73.48 +15,210 NEW
54 KWEB 0.12% 27,792 $946K $34.05 $92K +7,456 +36.7%
55 ANTM 0.12% 2,546 $892K $350.55 +2,546 NEW
56 HLT 0.11% 3,035 $872K $287.25 +3,035 NEW
57 QXO 0.11% 44,000 $849K $19.29 $10K
58 PTC 0.09% 4,173 $727K $174.21 +4,173 NEW
59 QQQ 0.09% 1,105 $679K $614.16 -$17K -53 -4.6%
60 INTU 0.08% 914 $605K $662.42 +914 NEW
61 LBRDK 0.08% 12,406 $603K $48.60 +12,406 NEW
62 BP 0.06% 12,266 $426K $34.73 $100K +2,794 +29.5%
63 IVV 0.05% 614 $421K $684.94 $23K +20 +3.4%
64 NVDA 0.05% 2,076 $387K $186.50 $33K +178 +9.4%
65 IWF 0.05% 803 $380K $473.51 $4K
66 MLM 0.05% 608 $379K $622.66 +608 NEW
67 LVO 0.05% 78,823 $372K $4.72 $26K -4,903 -5.9%
68 ALTI 0.05% 77,817 $361K $4.64 $84K
69 VMC 0.04% 1,208 $345K $285.22 +1,208 NEW
70 UVXY 0.04% 9,000 $323K $35.93 +9,000 NEW
71 IWD 0.04% 1,456 $306K $210.32 $11K +7 +0.5%
72 PODC 0.03% 100,238 $248K $2.47 $70K -5,638 -5.3%
73 BAC 0.03% 4,149 $228K $55.00 -$79K -1,799 -30.2%
74 FSK 0.02% 12,058 $179K $14.81 -$10K
75 ACP 0.02% 27,500 $151K $5.49 -$9K
76 CCAP 0.02% 10,000 $145K $14.47 -$2K
77 RC 0.02% 65,000 $142K $2.19 $82K +50,000 +333.3%
78 AINV 0.02% 11,029 $126K $11.44 -$6K
79 TCPC 0.02% 21,406 $117K $5.47 -$16K
80 OPEN 0.01% 10,000 $58K $5.83 +10,000 NEW
81 NNDM —% -$78K -50,000 -100.0% SOLD
82 ETHA —% -$1M -38,220 -100.0% SOLD
83 DELL —% -$577K -4,067 -100.0% SOLD
84 BRK-B —% -$222K -441 -100.0% SOLD
85 HYS —% -$49K -513 -100.0% SOLD
86 WULF —% -$514K -45,000 -100.0% SOLD
87 DBEU —% -$38M -823,835 -100.0% SOLD
88 IBIT —% -$4M -53,878 -100.0% SOLD

New Positions

SymbolValue% Port
IAUM $7M 0.85%
COP $3M 0.42%
GOOG $3M 0.38%
WDAY $3M 0.38%
TSM $3M 0.36%
COF $3M 0.36%
AER $3M 0.33%
DHR $2M 0.32%
WWD $2M 0.29%
CMCSA $2M 0.28%
LEN $2M 0.25%
SAP $2M 0.24%
ASML $2M 0.21%
EL $2M 0.20%
AA $1M 0.19%

Sold Out Positions

SymbolValue% Port
ETHA —%
IBIT —%
NNDM —%
WULF —%
HYS —%
DELL —%
BRK-B —%
DBEU —%
View SEC EDGAR Filings for Permanens Capital L.P. →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms