Permanens Capital L.P.
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Permanens Capital L.P. reported 88 stock positions worth $776.3 million. Its top holding was iShares Gold Trust (IAU) at 21.4% of the portfolio, followed by Vanguard Mrngstr Val ETF-Aui (VTV, 15.1%) and SS SPDR BB 1-3M T-Bill ETF (BIL, 11.7%). Compared with Q4 2025, it opened 19 new positions, sold out of 11, added to 25 and reduced 27. The biggest buy was iShares Gold Trust (IAU, shares +68%) and the biggest sale an exit from iShares Silver Trust (SLV).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001599637
- Portfolio Value
- $776.3M (Q1 2026)
- SEC Filing
- 0001493152-26-023927 ↗ filed May 15, 2026
Holdings Value
Holdings 88 stocks · $776.3M
| IAU iShares Gold Trust | 21.41% | 1,885,466 | $166.2M | Add +68.0% |
| VTV Vanguard Mrngstr Val ETF-Aui | 15.15% | 599,227 | $117.6M | Add +6.8% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 11.66% | 987,782 | $90.5M | Add +48.7% |
| VUG Vanguard Mrngstar GR ETF-Sui | 6.46% | 114,815 | $50.2M | Reduce -28.9% |
| SECU Ishrs Secur Incom Act ETF | 5.28% | 822,353 | $41.0M | New |
| SCHI Schwab 5-10 Year Corporate B | 3.94% | 1,349,942 | $30.6M | New |
| IEI iShares 3-7 Year Treasury Bo | 3.94% | 257,944 | $30.6M | Add +1462.5% |
| JPY Lazard Japanese Equity ETF | 2.53% | 596,251 | $19.6M | Add +2.3% |
| CCJ Cameco Corp. | 2.37% | 169,262 | $18.4M | Reduce -2.8% |
| PREF Pri Spe Pre Sec Acti-Usd Inc. | 2.05% | 847,144 | $15.9M | Reduce -50.6% |
| BBEU JPMorgan Betabuilders Europe | 1.93% | 206,582 | $15.0M | Reduce -63.1% |
| IAUM iShares Gold Trust Micro | 1.60% | 265,651 | $12.4M | Add +74.3% |
| MSFT Microsoft Corp. | 1.49% | 31,146 | $11.5M | Add +23.5% |
| WMT Walmart Inc. | 1.39% | 86,688 | $10.8M | Add +0.3% |
| BKR Baker Hughes Co. | 1.37% | 174,553 | $10.7M | New |
| JPM JPMorgan Chase & Co. | 1.29% | 34,064 | $10.0M | Add +24.2% |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 1.26% | 575,644 | $9.8M | Add +8.0% |
| ULTA Ulta Beauty Inc. | 1.25% | 18,584 | $9.7M | Add +24.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 1.22% | 19,820 | $9.5M | New |
| EAGL Eagle Capital Select Eqty | 1.17% | 299,137 | $9.1M | Reduce -62.6% |
| BKLN Invesco Senior Loan ETF | 1.01% | 383,369 | $7.8M | New |
| BRHY iShares High Yild Active ETF | 1.01% | 154,756 | $7.8M | New |
| RSP Invesco S&P 500 Equal Weight | 0.84% | 34,000 | $6.5M | New |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.52% | 6,233 | $4.1M | Add +32.4% |
| AMZN Amazon.com Inc. | 0.50% | 18,494 | $3.9M | Reduce -31.2% |
| DXJ Wisdomtree Japan Hedged Eq | 0.49% | 23,914 | $3.8M | Reduce -91.8% |
| NFLX Netflix Inc. | 0.39% | 31,780 | $3.1M | Add +20.9% |
| BRT BRT Apartments Corp. | 0.35% | 201,265 | $2.7M | Add +0.0% |
| COP Conocophillips | 0.32% | 19,069 | $2.5M | Reduce -44.9% |
| META Meta Platforms Inc. Class A | 0.28% | 3,850 | $2.2M | Reduce -15.4% |
| TSM Taiwan Semiconductor-SP ADR | 0.23% | 5,274 | $1.8M | Reduce -41.9% |
| GOOGL Alphabet Inc. Class A | 0.23% | 6,110 | $1.8M | No change |
| BGC BGC Group Inc. Class A | 0.21% | 170,000 | $1.7M | No change |
| MELI MercadoLibre Inc. | 0.21% | 957 | $1.7M | Add +14.5% |
| UNH Unitedhealth Group Inc. | 0.21% | 6,085 | $1.6M | Reduce -40.0% |
| MA Mastercard Inc. Class A | 0.21% | 3,211 | $1.6M | Add +27.4% |
| GOOG Alphabet Inc. Class C | 0.20% | 5,504 | $1.6M | Reduce -41.2% |
| AAPL Apple Inc. | 0.19% | 5,803 | $1.5M | No change |
| SAP Sap SE-Sponsored ADR | 0.19% | 8,494 | $1.5M | Add +12.7% |
| DHR Danaher Corp. | 0.17% | 6,890 | $1.3M | Reduce -35.0% |
| QQQ Invesco QQQ Trust Series 1 | 0.16% | 2,204 | $1.3M | Add +99.5% |
| QLD Proshares Ultra QQQ | 0.16% | 20,750 | $1.3M | No change |
| COF Capital One Financial Corp. | 0.15% | 6,547 | $1.2M | Reduce -42.0% |
| SHOP Shopify Inc. Class A | 0.15% | 10,030 | $1.2M | No change |
| ARCC Ares Capital Corp. | 0.15% | 65,544 | $1.2M | No change |
| WDAY Workday Inc. Class A | 0.15% | 8,826 | $1.1M | Reduce -34.7% |
| CMCSA Comcast Corp. Class A | 0.14% | 37,901 | $1.1M | Reduce -46.6% |
| INTU Intuit Inc. | 0.13% | 2,251 | $973K | Add +146.3% |
| QXO Qxo Inc. | 0.13% | 50,000 | $971K | Add +13.6% |
| AER Aercap Holdings NV | 0.12% | 7,002 | $961K | Reduce -60.0% |
| IEFA iShares Core MSCI Eafe ETF | 0.12% | 10,594 | $959K | New |
| LEN Lennar Corp. Class A | 0.12% | 10,989 | $954K | Reduce -41.9% |
| AA Alcoa Corp. | 0.12% | 14,169 | $940K | Reduce -48.5% |
| WWD Woodward Inc. | 0.11% | 2,457 | $879K | Reduce -67.0% |
| KWEB Kranesh Csi China Internet | 0.10% | 27,792 | $790K | No change |
| ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV | 0.08% | 493 | $651K | Reduce -67.8% |
| AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO | 0.08% | 2,905 | $629K | New |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.08% | 8,646 | $621K | Reduce -41.5% |
| BP BP PLC-Spons ADR | 0.07% | 12,266 | $577K | No change |
| SHEL Shell PLC-ADR | 0.07% | 6,013 | $559K | Reduce -60.5% |
| SPGI S&P Global Inc. | 0.07% | 1,251 | $532K | New |
| HUM Humana Inc. | 0.06% | 2,813 | $490K | Reduce -48.6% |
| FRDM Freedom 100 Emeging MRKT ETF | 0.06% | 8,644 | $472K | New |
| EMEQ Nomura Focused Emerging Mark | 0.06% | 10,235 | $462K | New |
| GLD SPDR Gold Shares | 0.06% | 1,049 | $451K | New |
| ELV Elevance Health Inc. | 0.06% | 1,479 | $433K | Reduce -41.9% |
| IVV iShares Core S&P 500 ETF | 0.05% | 639 | $417K | Add +4.1% |
| LVO Liveone Inc. | 0.05% | 78,823 | $402K | No change |
| LBRDK Liberty Broadband-C | 0.05% | 7,576 | $381K | Reduce -38.9% |
| BXSL Blackstone Secured Lending F | 0.05% | 15,375 | $376K | New |
| NVDA Nvidia Corp. | 0.05% | 2,076 | $362K | No change |
| IWD iShares Russell 1000 Value E | 0.04% | 1,617 | $346K | Add +11.1% |
| ACP Abrdn Income Credit Strat | 0.04% | 60,550 | $309K | Add +120.2% |
| ALTI Alti Global Inc. | 0.04% | 82,581 | $299K | Add +6.1% |
| IWF iShares Russell 1000 Growth | 0.04% | 700 | $298K | Reduce -12.8% |
| PODC Podcastone Inc. | 0.04% | 135,238 | $276K | Add +34.9% |
| EFC Ellington Financial Inc. | 0.03% | 22,298 | $267K | New |
| EQT Eqt Corp. | 0.03% | 3,939 | $251K | New |
| IWM iShares Russell 2000 ETF | 0.03% | 915 | $227K | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.03% | 4,149 | $202K | No change |
| PSEC Prospect Capital Corp. | 0.02% | 66,180 | $176K | New |
| FSK FS KKR Capital Corp. | 0.02% | 12,058 | $129K | No change |
| CCAP Crescent Capital BDC Inc. | 0.02% | 10,000 | $126K | No change |
| MFIC Midcap Financial Investment | 0.02% | 11,029 | $124K | No change |
| RC Ready Capital Corp. | 0.01% | 65,000 | $106K | No change |
| CANG Cango Inc./KY Class A | 0.01% | 196,412 | $81K | New |
| TCPC BlackRock TCP Capital Corp. | 0.01% | 21,406 | $77K | No change |
| OPEN Opendoor Technologies Inc. | 0.01% | 10,000 | $47K | No change |
Portfolio Sells Q4 2025 → Q1 2026
| SLV iShares Silver Trust | Sold out | 0.00% | −7.56 |
| DXJ Wisdomtree Japan Hedged Eq | Reduce -91.8% | 0.49% | −5.02 |
| SHYG iShares 0-5 YR HY Corp. Bond | Sold out | 0.00% | −4.74 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -28.9% | 6.46% | −3.82 |
| BBEU JPMorgan Betabuilders Europe | Reduce -63.1% | 1.93% | −3.43 |
| EAGL Eagle Capital Select Eqty | Reduce -62.6% | 1.17% | −2.22 |
| PREF Pri Spe Pre Sec Acti-Usd Inc. | Reduce -50.6% | 2.05% | −2.21 |
| UBS UBS Group AG-Reg | Sold out | 0.00% | −1.25 |
| SCHW Schwab (charles) Corp. | Sold out | 0.00% | −1.11 |
| AMZN Amazon.com Inc. | Reduce -31.2% | 0.50% | −0.31 |
| IGSB iShares 1-5Y Inv Grade Corp. | Sold out | 0.00% | −0.26 |
| WDAY Workday Inc. Class A | Reduce -34.7% | 0.15% | −0.23 |
| UNH Unitedhealth Group Inc. | Reduce -40.0% | 0.21% | −0.22 |
| AER Aercap Holdings NV | Reduce -60.0% | 0.12% | −0.20 |
| COF Capital One Financial Corp. | Reduce -42.0% | 0.15% | −0.20 |
| WWD Woodward Inc. | Reduce -67.0% | 0.11% | −0.18 |
| GOOG Alphabet Inc. Class C | Reduce -41.2% | 0.20% | −0.18 |
| AON Aon PLC Class A | Sold out | 0.00% | −0.18 |
| DHR Danaher Corp. | Reduce -35.0% | 0.17% | −0.15 |
| CMCSA Comcast Corp. Class A | Reduce -46.6% | 0.14% | −0.14 |
| LEN Lennar Corp. Class A | Reduce -41.9% | 0.12% | −0.13 |
| TSM Taiwan Semiconductor-SP ADR | Reduce -41.9% | 0.23% | −0.13 |
| ASML ASML Holding NV-NY Reg SHS | Reduce -67.8% | 0.08% | −0.13 |
| EL Estee Lauder Companies Class A | Reduce -41.5% | 0.08% | −0.12 |
| HUM Humana Inc. | Reduce -48.6% | 0.06% | −0.12 |
| HLT Hilton Worldwide Holdings Inc. | Sold out | 0.00% | −0.11 |
| META Meta Platforms Inc. Class A | Reduce -15.4% | 0.28% | −0.11 |
| COP Conocophillips | Reduce -44.9% | 0.32% | −0.10 |
| PTC PTC Inc. | Sold out | 0.00% | −0.09 |
| SHEL Shell PLC-ADR | Reduce -60.5% | 0.07% | −0.07 |
| AA Alcoa Corp. | Reduce -48.5% | 0.12% | −0.07 |
| ELV Elevance Health Inc. | Reduce -41.9% | 0.06% | −0.06 |
| MLM Martin Marietta Materials | Sold out | 0.00% | −0.05 |
| VMC Vulcan Materials Co. | Sold out | 0.00% | −0.04 |
| UVXY Proshares Ultra Vix St Futur | Sold out | 0.00% | −0.04 |
| LBRDK Liberty Broadband-C | Reduce -38.9% | 0.05% | −0.03 |
| IWF iShares Russell 1000 Growth | Reduce -12.8% | 0.04% | −0.01 |
| CCJ Cameco Corp. | Reduce -2.8% | 2.37% | +0.29 |
Portfolio Buys Q4 2025 → Q1 2026
| IAU iShares Gold Trust | Add +68.0% | 21.41% | +9.53 |
| SECU Ishrs Secur Incom Act ETF | New | 5.28% | +5.28 |
| SCHI Schwab 5-10 Year Corporate B | New | 3.94% | +3.94 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +48.7% | 11.66% | +3.75 |
| IEI iShares 3-7 Year Treasury Bo | Add +1462.5% | 3.94% | +3.68 |
| BKR Baker Hughes Co. | New | 1.37% | +1.37 |
| BRK.B Berkshire Hathaway Inc. Class B | New | 1.22% | +1.22 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +6.8% | 15.15% | +1.16 |
| BKLN Invesco Senior Loan ETF | New | 1.01% | +1.01 |
| BRHY iShares High Yild Active ETF | New | 1.01% | +1.01 |
| RSP Invesco S&P 500 Equal Weight | New | 0.84% | +0.84 |
| IAUM iShares Gold Trust Micro | Add +74.3% | 1.60% | +0.74 |
| MUFG Mitsubishi Ufj Finl-Spon ADR | Add +8.0% | 1.26% | +0.16 |
| JPM JPMorgan Chase & Co. | Add +24.2% | 1.29% | +0.14 |
| WMT Walmart Inc. | Add +0.3% | 1.39% | +0.13 |
| IEFA iShares Core MSCI Eafe ETF | New | 0.12% | +0.12 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +32.4% | 0.52% | +0.10 |
| JPY Lazard Japanese Equity ETF | Add +2.3% | 2.53% | +0.10 |
| AJG Arthur J Gallagher & Co. | New | 0.08% | +0.08 |
| QQQ Invesco QQQ Trust Series 1 | Add +99.5% | 0.16% | +0.08 |
| NFLX Netflix Inc. | Add +20.9% | 0.39% | +0.07 |
| ULTA Ulta Beauty Inc. | Add +24.2% | 1.25% | +0.07 |
| SPGI S&P Global Inc. | New | 0.07% | +0.07 |
| FRDM Freedom 100 Emeging MRKT ETF | New | 0.06% | +0.06 |
| EMEQ Nomura Focused Emerging Mark | New | 0.06% | +0.06 |
| GLD SPDR Gold Shares | New | 0.06% | +0.06 |
| BXSL Blackstone Secured Lending F | New | 0.05% | +0.05 |
| INTU Intuit Inc. | Add +146.3% | 0.13% | +0.05 |
| EFC Ellington Financial Inc. | New | 0.03% | +0.03 |
| EQT Eqt Corp. | New | 0.03% | +0.03 |
| IWM iShares Russell 2000 ETF | New | 0.03% | +0.03 |
| PSEC Prospect Capital Corp. | New | 0.02% | +0.02 |
| ACP Abrdn Income Credit Strat | Add +120.2% | 0.04% | +0.02 |
| MA Mastercard Inc. Class A | Add +27.4% | 0.21% | +0.02 |
| QXO Qxo Inc. | Add +13.6% | 0.13% | +0.01 |
| CANG Cango Inc./KY Class A | New | 0.01% | +0.01 |
| IWD iShares Russell 1000 Value E | Add +11.1% | 0.04% | +0.00 |
| PODC Podcastone Inc. | Add +34.9% | 0.04% | +0.00 |
| IVV iShares Core S&P 500 ETF | Add +4.1% | 0.05% | −0.00 |
| MELI MercadoLibre Inc. | Add +14.5% | 0.21% | −0.01 |
| ALTI Alti Global Inc. | Add +6.1% | 0.04% | −0.01 |
| BRT BRT Apartments Corp. | Add +0.0% | 0.35% | −0.04 |
| SAP Sap SE-Sponsored ADR | Add +12.7% | 0.19% | −0.05 |
| MSFT Microsoft Corp. | Add +23.5% | 1.49% | −0.11 |
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 |