2026 Q2 Portfolio Activity
In 2026 Q2, Permanens Capital L.P. maintained a portfolio of 124 distinct positions. The most significant new addition was PERSHING SQUARE USA LTD, now representing 2.31% of the total fund value. They heavily accumulated shares in BLACKROCK ETF TRUST II, increasing the position by 461.8%. The fund also reduced its exposure to ISHARES GOLD TR by 54.5%.
Position History
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Total Positions
124
Quarter
2026 Q2
Top Holding
BIL (16.8%)
Top 10 Concentration
67.6%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 124
Permanens Capital L.P. Full Holdings List — 2026 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
BIL
SPDR SERIES TRU...
|
ETF | 16.75% | 11.66% |
#1
2
Prev: #3
|
9.0 |
—
|
789,899 | 80.0% |
P
S
|
1,777,681 | $162,906,687 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
VTV
VANGUARD INDEX ...
|
ETF | 16.33% | 15.15% |
#2
Prev: #2
|
8.0 |
—
|
129,286 | 21.6% |
P
S
|
728,513 | $158,764,838 | 2016 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
VUG
VANGUARD INDEX ...
|
Warrant | 7.31% | 6.46% |
#3
1
Prev: #4
|
6.9 |
—
|
710,600 | 618.9% |
P
S
|
825,415 | $71,101,248 | 2013 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IAU
ISHARES GOLD TR
|
ETF | 6.66% | 21.41% |
#4
3
Prev: #1
|
3.2 |
—
|
-1,027,378 | -54.5% |
P
S
|
858,088 | $64,794,225 | 2013 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
N/A
BLACKROCK ETF T...
|
|
ETF | 5.66% | 5.28% |
#5
Prev: #5
|
5.3 |
—
|
281,056 | 34.2% |
P
S
|
1,103,409 | $55,015,965 | — | 13F Filing | 2026-06-30 | 2026-08-14 | ||
|
RSP
INVESCO EXCHANG...
|
Unknown | 4.34% | 0.84% |
#6
17
Prev: #23
|
4.7 |
—
|
164,353 | 483.4% |
P
S
|
198,353 | $42,203,568 | 2020 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BBEU
J P MORGAN EXCH...
|
ETF | 3.01% | 1.93% |
#7
4
Prev: #11
|
4.2 |
—
|
169,521 | 82.1% |
P
S
|
376,103 | $29,249,530 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
JPY
LAZARD ACTIVE E...
|
ETF | 2.62% | 2.53% |
#8
Prev: #8
|
3.0 |
—
|
98,945 | 16.6% |
P
S
|
695,196 | $25,444,521 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SCHI
SCHWAB STRATEGI...
|
ETF | 2.56% | 3.94% |
#9
3
Prev: #6
|
1.5 |
—
|
-249,975 | -18.5% |
P
S
|
1,099,967 | $24,903,253 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PSUS
PERSHING SQUARE...
|
Financial Services | 2.31% | — |
#10
Prev: #—
|
4.4 |
—
|
601,320 | — |
NEW
|
601,320 | $22,477,355 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
DXJ
WISDOMTREE TR
|
Unknown | 2.25% | 0.49% |
#11
15
Prev: #26
|
3.9 |
—
|
101,949 | 426.3% |
P
S
|
125,863 | $21,839,748 | 2013 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
PREF
PRINCIPAL EXCHA...
|
Preferred | 2.17% | 2.05% |
#12
2
Prev: #10
|
3.4 |
—
|
257,715 | 30.4% |
P
S
|
1,104,859 | $21,058,613 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
CCJ
CAMECO CORP
|
Energy | 1.80% | 2.37% |
#13
4
Prev: #9
|
1.2 |
—
|
2,542 | 1.5% |
P
S
|
171,804 | $17,499,955 | 2022 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
FRDM
EA SERIES TRUST
|
ETF | 1.65% | 0.06% |
#14
49
Prev: #63
|
3.7 |
—
|
210,414 | 2434.2% |
P
S
|
219,058 | $16,041,380 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MSFT
MICROSOFT CORP
|
Technology | 1.40% | 1.49% |
#15
2
Prev: #13
|
2.6 |
—
|
5,227 | 16.8% |
P
S
|
36,373 | $13,567,856 | 2019 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
GOOGL
ALPHABET INC
|
Communication Services | 1.25% | 0.23% |
#16
16
Prev: #32
|
3.5 |
—
|
28,003 | 458.3% |
P
S
|
34,113 | $12,190,963 | 2019 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
HHH
HOWARD HUGHES H...
|
Real Estate | 1.24% | — |
#17
Prev: #—
|
4.0 |
—
|
169,075 | — |
NEW
|
169,075 | $12,087,172 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MUFG
MITSUBISHI UFJ ...
|
Financial Services | 1.18% | 1.26% |
#18
1
Prev: #17
|
1.0 |
—
|
-1,408 | -0.2% |
P
S
|
574,236 | $11,500,665 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
EAGL
2023 ETF SERIES...
|
ETF | 1.18% | 1.17% |
#19
1
Prev: #20
|
2.5 |
—
|
57,361 | 19.2% |
P
S
|
356,498 | $11,468,541 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
JPM
JPMORGAN CHASE ...
|
Financial Services | 1.17% | 1.29% |
#20
4
Prev: #16
|
1.0 |
—
|
625 | 1.8% |
P
S
|
34,689 | $11,354,750 | 2019 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IWF
ISHARES TR
|
ETF | 1.12% | 0.04% |
#21
54
Prev: #75
|
3.4 |
—
|
87,060 | 12437.1% |
P
S
|
87,760 | $10,897,159 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IEFA
ISHARES TR
|
ETF | 1.10% | 0.12% |
#22
29
Prev: #51
|
3.4 |
—
|
100,590 | 949.5% |
P
S
|
111,184 | $10,738,151 | 2019 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IAUM
ISHARES GOLD TR...
|
ETF | 1.09% | 1.60% |
#23
11
Prev: #12
|
1.4 |
—
|
no change | no change |
P
S
|
265,651 | $10,628,697 | 2025 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
WMT
WALMART INC
|
Consumer Defensive | 1.07% | 1.39% |
#24
10
Prev: #14
|
2.4 |
—
|
5,156 | 5.9% |
P
S
|
91,844 | $10,402,251 | 2019 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NOK
NOKIA CORP
|
Technology | 1.03% | — |
#25
Prev: #—
|
3.9 |
—
|
753,841 | — |
NEW
|
753,841 | $10,011,008 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ULTA
ULTA BEAUTY INC
|
Consumer Cyclical | 0.92% | 1.25% |
#26
8
Prev: #18
|
2.4 |
—
|
1,243 | 6.7% |
P
S
|
19,827 | $8,941,580 | 2020 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
BKLN
INVESCO EXCH TR...
|
ETF | 0.91% | 1.01% |
#27
6
Prev: #21
|
2.4 |
—
|
48,841 | 12.7% |
P
S
|
432,210 | $8,804,118 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IVV
ISHARES TR
|
ETF | 0.76% | 0.05% |
#28
39
Prev: #67
|
3.3 |
—
|
9,241 | 1446.2% |
P
S
|
9,880 | $7,399,033 | 2018 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 0.52% | 0.50% |
#29
4
Prev: #25
|
2.2 |
—
|
2,721 | 14.7% |
P
S
|
21,215 | $5,056,383 | 2018 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IWD
ISHARES TR
|
ETF | 0.51% | 0.04% |
#30
42
Prev: #72
|
3.2 |
—
|
18,783 | 1161.6% |
P
S
|
20,400 | $4,945,572 | 2025 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SPY
SPDR S&P 500 ET...
|
ETF | 0.47% | 0.52% |
#31
7
Prev: #24
|
0.7 |
—
|
-190 | -3.0% |
P
S
|
6,043 | $4,524,226 | 2013 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
TSM
TAIWAN SEMICOND...
|
Technology | 0.45% | 0.23% |
#32
1
Prev: #31
|
3.2 |
—
|
3,840 | 72.8% |
P
S
|
9,114 | $4,361,134 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
IGF
ISHARES TR
|
ETF | 0.34% | — |
#33
Prev: #—
|
3.6 |
—
|
49,160 | — |
NEW
|
49,160 | $3,274,056 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
VT
VANGUARD INTL E...
|
ETF | 0.33% | — |
#34
Prev: #—
|
3.6 |
—
|
20,200 | — |
NEW
|
20,200 | $3,170,390 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
AAPL
APPLE INC
|
Technology | 0.32% | 0.19% |
#35
3
Prev: #38
|
3.1 |
—
|
4,800 | 82.7% |
P
S
|
10,603 | $3,067,997 | 2019 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MA
MICROSOFT CORP
|
Financial Services | 0.29% | 0.21% |
#36
Prev: #36
|
3.1 |
—
|
2,252 | 70.1% |
P
S
|
5,463 | $2,805,797 | 2019 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
MELI
MERCADOLIBRE IN...
|
Consumer Cyclical | 0.28% | 0.21% |
#37
3
Prev: #34
|
3.1 |
—
|
673 | 70.3% |
P
S
|
1,630 | $2,766,746 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
UNH
UNITEDHEALTH GR...
|
Healthcare | 0.27% | 0.21% |
#38
3
Prev: #35
|
0.6 |
—
|
212 | 3.5% |
P
S
|
6,297 | $2,617,222 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
META
META PLATFORMS ...
|
Communication Services | 0.26% | 0.28% |
#39
9
Prev: #30
|
2.1 |
—
|
672 | 17.5% |
P
S
|
4,522 | $2,547,197 | 2019 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
EFA
ISHARES TR
|
ETF | 0.25% | — |
#40
Prev: #—
|
3.6 |
—
|
23,150 | — |
NEW
|
23,150 | $2,404,822 | 2026 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
GOOG
ALPHABET INC
|
Communication Services | 0.24% | 0.20% |
#41
4
Prev: #37
|
2.6 |
—
|
1,189 | 21.6% |
P
S
|
6,693 | $2,364,838 | 2019 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
GNR
STATE STR SPDR ...
|
ETF | 0.24% | — |
#42
Prev: #—
|
3.6 |
—
|
34,000 | — |
NEW
|
34,000 | $2,288,540 | 2019 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
QLD
ProShares Ultra...
|
ETF | 0.21% | 0.16% |
#43
1
Prev: #42
|
1.1 |
—
|
no change | no change |
P
S
|
20,750 | $2,007,770 | 2025 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NFLX
NETFLIX INC.
|
Communication Services | 0.21% | 0.39% |
#44
17
Prev: #27
|
0.6 |
—
|
-3,692 | -11.6% |
P
S
|
28,088 | $2,005,483 | 2019 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
COP
CONOCOPHILLIPS
|
Energy | 0.20% | 0.32% |
#45
16
Prev: #29
|
0.6 |
—
|
-521 | -2.7% |
P
S
|
18,548 | $1,928,250 | 2019 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
DHR
DANAHER CORP DE...
|
Healthcare | 0.20% | 0.17% |
#46
6
Prev: #40
|
2.6 |
—
|
3,104 | 45.1% |
P
S
|
9,994 | $1,907,655 | 2019 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
NVDA
NVIDIA CORPORAT...
|
Technology | 0.18% | 0.05% |
#47
24
Prev: #71
|
3.1 |
—
|
6,571 | 316.5% |
P
S
|
8,647 | $1,730,178 | 2019 Q2 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
SPGI
S&P GLOBAL INC
|
Financial Services | 0.18% | 0.07% |
#48
13
Prev: #61
|
3.1 |
—
|
2,939 | 234.9% |
P
S
|
4,190 | $1,706,419 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
ASML
ASML HLDG NV
|
Technology | 0.17% | 0.08% |
#49
7
Prev: #56
|
3.1 |
—
|
330 | 66.9% |
P
S
|
823 | $1,637,309 | 2019 Q4 | 13F Filing | 2026-06-30 | 2026-08-14 | |||
|
HUM
HUMANA INC
|
Healthcare | 0.16% | 0.06% |
#50
12
Prev: #62
|
2.6 |
—
|
1,071 | 38.1% |
P
S
|
3,884 | $1,546,240 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-14 |
Showing 1-50 of 124 holdings