In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Permanens Capital L.P. reported 25 stock positions worth $813.8 million . Its top holding was Vanguard Mrngstr Val ETF-Aui (VTV) at 41.2% of the portfolio, followed by iShares MSCI Japan ETF (EWJ, 12.7% ) and Vanguard Mrngstar GR ETF-Sui (VUG, 11.3% ). Compared with Q4 2023, it opened 1 new position, sold out of 1, added to 17 and reduced 5. The biggest buy was iShares MSCI Emr MRK Ex Chna (EMXC, shares +134% ) and the biggest sale an exit from iShares Russell 2000 ETF (IWM).
Location NEW YORK, NY
CIK 0001599637
Portfolio Value $813.8M (Q1 2024) Holdings 25 stocks · $813.8M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 VTV Vanguard Mrngstr Val ETF-Aui 2,058,592 $335.3M Add +37.2% EWJ iShares MSCI Japan ETF 1,447,506 $103.3M Add +39.2% VUG Vanguard Mrngstar GR ETF-Sui 266,854 $91.9M Add +47.9% EMXC iShares MSCI Emr MRK Ex Chna 1,235,628 $71.1M Add +133.9% DXJ Wisdomtree Japan Hedged Eq 513,013 $55.7M Add +33.9% HEDJ Wisdomtree Europe Hedged Equ 808,481 $39.0M Add +98.3% HEZU iShares Currency Hedged MSCI 1,013,883 $37.3M Add +102.4% IAU iShares Gold Trust 299,036 $12.6M Add +50.5% SUSA iShares ESG Optimized MSCI U 65,925 $7.2M Add +0.5% DIS The Walt Disney Co. filed as DISNEY WALT CO 44,843 $5.5M Add +1.5% SCHW Schwab (charles) Corp. 74,970 $5.4M Reduce -24.9% JPM JPMorgan Chase & Co. 26,772 $5.4M Reduce -3.5% CCJ Cameco Corp. 121,486 $5.3M Add +29.0% MSFT Microsoft Corp. 12,195 $5.1M Add +8.0% BRK.B Berkshire Hathaway Inc. Class B 12,049 $5.1M New WMT Walmart Inc. 83,169 $5.0M Add +12.8% MAR Marriott International Class A 19,790 $5.0M Reduce -4.0% AAPL Apple Inc. 27,747 $4.8M Add +25.9% ULTA Ulta Beauty Inc. 8,899 $4.7M Reduce -10.9% NKE Nike Inc. Class B 47,709 $4.5M Add +23.6% SPY SS SPDR S&P 500 ETF Trust-US 3,276 $1.7M Reduce -6.7% PHYS Sprott Physical Gold Trust 70,327 $1.2M No change SPYV SS SPDR P S&P 500 Value ETF 22,689 $1.1M Add +5.6% SPYG SS SPDR P S&P 500 Growth ETF 6,799 $497K Add +0.7% JEF Jefferies Financial Group Inc. 7,580 $334K No change
Other holdings (1): bonds, preferreds, convertibles and warrants · $15K (not counted above) Security Class Shares / Principal Value Change ACHR.WS Archer Aviation Inc. -CW26 *W EXP 09/16/202 20,644 $15K No change
Total filed on the 13F, all lines: $813.9M.
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ IWM iShares Russell 2000 ETF Sold out 0.00% −0.85 SCHW Schwab (charles) Corp. Reduce -24.9% 0.67% −0.67 ULTA Ulta Beauty Inc. Reduce -10.9% 0.57% −0.38 MAR Marriott International Class A Reduce -4.0% 0.61% −0.29 JPM JPMorgan Chase & Co. Reduce -3.5% 0.66% −0.26 SPY SS SPDR S&P 500 ETF Trust-US Reduce -6.7% 0.21% −0.12
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ EMXC iShares MSCI Emr MRK Ex Chna Add +133.9% 8.74% +3.04 HEDJ Wisdomtree Europe Hedged Equ Add +98.3% 4.80% +1.40 HEZU iShares Currency Hedged MSCI Add +102.4% 4.58% +1.33 BRK.B Berkshire Hathaway Inc. Class B New 0.62% +0.62 VUG Vanguard Mrngstar GR ETF-Sui Add +47.9% 11.29% +0.36 DXJ Wisdomtree Japan Hedged Eq Add +33.9% 6.84% +0.27 IAU iShares Gold Trust Add +50.5% 1.54% +0.03 SPYG SS SPDR P S&P 500 Growth ETF Add +0.7% 0.06% −0.02 SPYV SS SPDR P S&P 500 Value ETF Add +5.6% 0.14% −0.06 DIS The Walt Disney Co. Add +1.5% 0.67% −0.11 WMT Walmart Inc. Add +12.8% 0.62% −0.14 CCJ Cameco Corp. Add +29.0% 0.65% −0.14 MSFT Microsoft Corp. Add +8.0% 0.63% −0.20 AAPL Apple Inc. Add +25.9% 0.58% −0.24 NKE Nike Inc. Class B Add +23.6% 0.55% −0.27 EWJ iShares MSCI Japan ETF Add +39.2% 12.69% −0.31 SUSA iShares ESG Optimized MSCI U Add +0.5% 0.88% −0.40 VTV Vanguard Mrngstr Val ETF-Aui Add +37.2% 41.19% −2.50
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 100 $972.4M BIL, VTV, VUG, IAU, SECU Q1 2026 88 $776.3M IAU, VTV, BIL, VUG, SECU Q4 2025 80 $766.8M VTV, IAU, VUG, BIL, SLV Q3 2025 62 $670.5M VTV, VUG, IAU, BIL, SLV Q2 2025 67 $733.3M VTV, VUG, DBEU, IAU, DXJ Q1 2025 58 $550.7M VTV, VUG, IAU, DBEU, DXJ Q4 2024 52 $523.6M VUG, VTV, RSP, IAU, DBEU Q3 2024 52 $492.3M VTV, VUG, EMXC, RSP, IAU Q2 2024 25 $979.3M VTV, VUG, EMXC, DXJ, EWJ Q1 2024 25 $813.8M VTV, EWJ, VUG, EMXC, DXJ