Q4 2025 · 13F-HR
Permanens Capital L.P.holdings as filed
Filed 2026-02-17 · accession 0001493152-26-007095
$766.8M
Reported value
80
Positions
2025-12-31
Period end
The Brief · Permanens Capital L.P. · Q4 2025
AI · grounded in 13F
Permanens Capital L.P. closed its position in DBEU, resulting in a decrease of $37.9M. The fund established a new position in IAUM valued at $6.55M and increased its holdings in BBEU by 9,627%. Other notable activity includes closing positions in IBIT and ETHA, while accumulating shares of MSFT by 91.9%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 922908744 | VTV | VANGUARD INDEX FDS | $107.2M | 14.0% | 561,293 | Common | SOLE |
| 464285204 | IAU | ISHARES GOLD TR | $91.1M | 11.9% | 1,122,462 | Common | SOLE |
| 922908736 | VUG | VANGUARD INDEX FDS | $78.8M | 10.3% | 161,547 | Common | SOLE |
| 78468R663 | BIL | SPDR SERIES TRUST | $60.7M | 7.91% | 664,112 | Common | SOLE |
| 46428Q109 | SLV | ISHARES SILVER TR | $58.0M | 7.56% | 900,242 | Common | SOLE |
| 97717W851 | DXJ | WISDOMTREE TR | $42.2M | 5.50% | 292,755 | Common | SOLE |
| 46641Q191 | BBEU | J P MORGAN EXCHANGE TRADED F | $41.1M | 5.36% | 560,278 | Common | SOLE |
| 46434V407 | SHYG | ISHARES TR | $36.3M | 4.74% | 847,010 | Common | SOLE |
| 74255Y888 | PREF | PRINCIPAL EXCHANGE TRADED FD | $32.7M | 4.27% | 1,715,767 | Common | SOLE |
| 88339Y102 | EAGL | 2023 ETF SERIES TRUST | $26.0M | 3.39% | 800,671 | Common | SOLE |
| 52110K103 | JPY | LAZARD ACTIVE ETF TR | $18.6M | 2.43% | 582,605 | Common | SOLE |
| 13321L108 | CCJ | CAMECO CORP | $15.9M | 2.08% | 174,183 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $12.2M | 1.59% | 25,224 | Common | SOLE |
| 931142103 | WMT | WALMART INC | $9.6M | 1.26% | 86,403 | Common | SOLE |
| H42097107 | UBS | UBS GROUP AG | $9.6M | 1.25% | 207,412 | Common | SOLE |
| 90384S303 | ULTA | ULTA BEAUTY INC | $9.1M | 1.18% | 14,966 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $8.8M | 1.15% | 27,436 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CORP | $8.5M | 1.11% | 85,461 | Common | SOLE |
| 606822104 | MUFG | MITSUBISHI UFJ FINL GROUP IN | $8.5M | 1.10% | 533,233 | Common | SOLE |
| 46436F103 | IAUM | ISHARES GOLD TR | $6.6M | 0.85% | 152,381 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $6.2M | 0.81% | 26,864 | Common | SOLE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $3.4M | 0.44% | 10,150 | Common | SOLE |
| 20825C104 | COP | CONOCOPHILLIPS | $3.2M | 0.42% | 34,632 | Common | SOLE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $3.2M | 0.42% | 4,707 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $3.0M | 0.39% | 4,553 | Common | SOLE |
| 055645303 | BRT | BRT APARTMENTS CORP | $3.0M | 0.39% | 201,264 | Common | SOLE |
| 02079K107 | GOOG | ALPHABET INC | $2.9M | 0.38% | 9,363 | Common | SOLE |
| 98138H101 | WDAY | WORKDAY INC | $2.9M | 0.38% | 13,510 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $2.8M | 0.36% | 9,083 | Common | SOLE |
| 14040H105 | COF | CAPITAL ONE FINL CORP | $2.7M | 0.36% | 11,278 | Common | SOLE |
| N00985106 | AER | AERCAP HOLDINGS NV | $2.5M | 0.33% | 17,516 | Common | SOLE |
| 64110L106 | NFLX | NETFLIX INC | $2.5M | 0.32% | 26,296 | Common | SOLE |
| 235851102 | DHR | DANAHER CORPORATION | $2.4M | 0.32% | 10,598 | Common | SOLE |
| 980745103 | WWD | WOODWARD INC | $2.2M | 0.29% | 7,437 | Common | SOLE |
| 20030N101 | CMCSA | COMCAST CORP NEW | $2.1M | 0.28% | 71,047 | Common | SOLE |
| 464288661 | IEI | ISHARES TR | $2.0M | 0.26% | 16,508 | Common | SOLE |
| 464288646 | IGSB | ISHARES TR | $2.0M | 0.26% | 37,203 | Common | SOLE |
| 526057104 | LEN | LENNAR CORP | $1.9M | 0.25% | 18,917 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $1.9M | 0.25% | 6,110 | Common | SOLE |
| 803054204 | SAP | SAP SE | $1.8M | 0.24% | 7,535 | Common | SOLE |
| 58733R102 | MELI | MERCADOLIBRE INC | $1.7M | 0.22% | 836 | Common | SOLE |
| N07059210 | ASML | ASML HOLDING N V | $1.6M | 0.21% | 1,531 | Common | SOLE |
| 82509L107 | SHOP | SHOPIFY INC | $1.6M | 0.21% | 10,030 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $1.6M | 0.21% | 5,803 | Common | SOLE |
| 518439104 | EL | LAUDER ESTEE COS INC | $1.5M | 0.20% | 14,792 | Common | SOLE |
| 088929104 | BGC | BGC GROUP INC | $1.5M | 0.20% | 170,000 | Common | SOLE |
| 013872106 | AA | ALCOA CORP | $1.5M | 0.19% | 27,511 | Common | SOLE |
| 74347R206 | QLD | PROSHARES TR | $1.5M | 0.19% | 20,750 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $1.4M | 0.19% | 2,521 | Common | SOLE |
| 444859102 | HUM | HUMANA INC | $1.4M | 0.18% | 5,474 | Common | SOLE |
| G0403H108 | AON | AON PLC | $1.4M | 0.18% | 3,877 | Common | SOLE |
| 04010L103 | ARCC | ARES CAPITAL CORP | $1.3M | 0.17% | 65,544 | Common | SOLE |
| 780259305 | SHEL | SHELL PLC | $1.1M | 0.15% | 15,210 | Common | SOLE |
| 500767306 | KWEB | KRANESHARES TRUST | $946,318 | 0.12% | 27,792 | Common | SOLE |
| 036752103 | ELV | ELEVANCE HEALTH INC FORMERLY | $892,500 | 0.12% | 2,546 | Common | SOLE |
| 43300A203 | HLT | HILTON WORLDWIDE HLDGS INC | $871,804 | 0.11% | 3,035 | Common | SOLE |
| 82846H405 | QXO | QXO INC | $848,760 | 0.11% | 44,000 | Common | SOLE |
| 69370C100 | PTC | PTC INC | $726,978 | 0.09% | 4,173 | Common | SOLE |
| 46090E103 | QQQ | INVESCO QQQ TR | $678,652 | 0.09% | 1,105 | Common | SOLE |
| 461202103 | INTU | INTUIT | $605,452 | 0.08% | 914 | Common | SOLE |
| 530307305 | LBRDK | LIBERTY BROADBAND CORP | $602,932 | 0.08% | 12,406 | Common | SOLE |
| 055622104 | BP | BP PLC | $425,998 | 0.06% | 12,266 | Common | SOLE |
| 464287200 | IVV | ISHARES TR | $420,553 | 0.05% | 614 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $387,174 | 0.05% | 2,076 | Common | SOLE |
| 464287614 | IWF | ISHARES TR | $380,232 | 0.05% | 803 | Common | SOLE |
| 573284106 | MLM | MARTIN MARIETTA MATLS INC | $378,577 | 0.05% | 608 | Common | SOLE |
| 53814X300 | LVO | LIVEONE INC | $372,045 | 0.05% | 78,823 | Common | SOLE |
| 02157E106 | ALTI | ALTI GLOBAL INC | $361,071 | 0.05% | 77,817 | Common | SOLE |
| 929160109 | VMC | VULCAN MATLS CO | $344,546 | 0.04% | 1,208 | Common | SOLE |
| 74347Y680 | UVXY | PROSHARES TR II | $323,370 | 0.04% | 9,000 | Common | SOLE |
| 464287598 | IWD | ISHARES TR | $306,227 | 0.04% | 1,456 | Common | SOLE |
| 22275C105 | PODC | PODCASTONE INC | $247,588 | 0.03% | 100,238 | Common | SOLE |
| 060505104 | BAC | BANK AMERICA CORP | $228,195 | 0.03% | 4,149 | Common | SOLE |
| 302635206 | FSK | FS KKR CAP CORP | $178,572 | 0.02% | 12,058 | Common | SOLE |
| 003057106 | ACP | ABRDN INCOME CREDIT STRATEGI | $150,906 | 0.02% | 27,500 | Common | SOLE |
| 225655109 | CCAP | CRESCENT CAP BDC INC | $144,700 | 0.02% | 10,000 | Common | SOLE |
| 75574U101 | RC | READY CAPITAL CORP | $142,350 | 0.02% | 65,000 | Common | SOLE |
| 03761U502 | MFIC | MIDCAP FINANCIAL INVSTMNT CO | $126,169 | 0.02% | 11,029 | Common | SOLE |
| 09259E108 | TCPC | BLACKROCK TCP CAPITAL CORP | $117,090 | 0.02% | 21,406 | Common | SOLE |
| 683712103 | OPEN | OPENDOOR TECHNOLOGIES INC | $58,300 | 0.01% | 10,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.