AI Portfolio Summary
In 2025 Q4, Permanens Capital L.P. maintained a portfolio of 88 distinct positions. The most significant new addition to the portfolio was ISHARES GOLD TR, which now represents 0.85% of the total fund value. They heavily accumulated shares in ISHARES GOLD TR, increasing their position by 26.1%. The fund also reduced its exposure to UNITEDHEALTH GROUP I by 48.7%.
Total Positions
88
Quarter
2025 Q4
Top Holding
VTV (14.0%)
Top 10 Concentration
74.9%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 88
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
VTV
VANGUARD INDEX ...
|
ETF | 13.98% | 18.35% |
#1
Prev: #1
|
6.5 | -95,062 | -14.5% |
P
S
|
561,293 | $107,201,350 | 2016 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IAU
ISHARES GOLD TR
|
ETF | 11.88% | 9.66% |
#2
1
Prev: #3
|
8.0 | 232,207 | 26.1% |
P
S
|
1,122,462 | $91,110,206 | 2013 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
VUG
VANGUARD INDEX ...
|
Warrant | 10.28% | 18.17% |
#3
1
Prev: #2
|
5.0 | -92,228 | -36.3% |
P
S
|
161,547 | $78,812,319 | 2013 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BIL
SPDR SERIES TRU...
|
ETF | 7.91% | 6.04% |
#4
Prev: #4
|
6.7 | 222,472 | 50.4% |
P
S
|
664,112 | $60,686,555 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SLV
ISHARES SILVER ...
|
ETF | 7.56% | 5.89% |
#5
Prev: #5
|
4.0 | -31,741 | -3.4% |
P
S
|
900,242 | $57,993,620 | 2019 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
DXJ
WISDOMTREE TR
|
Unknown | 5.50% | 5.57% |
#6
1
Prev: #7
|
2.7 | 1,022 | 0.4% |
P
S
|
292,755 | $42,203,631 | 2013 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BBEU
J P MORGAN EXCH...
|
ETF | 5.36% | 0.06% |
#7
35
Prev: #42
|
5.1 | 554,518 | 9627.0% |
P
S
|
560,278 | $41,068,377 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SHYG
ISHARES TR
|
ETF | 4.74% | 5.08% |
#8
Prev: #8
|
3.9 | 60,945 | 7.8% |
P
S
|
847,010 | $36,311,322 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
PREF
PRINCIPAL EXCHA...
|
Preferred | 4.27% | 4.19% |
#9
Prev: #9
|
3.7 | 247,253 | 16.8% |
P
S
|
1,715,767 | $32,719,677 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
EAGL
2023 ETF SERIES...
|
ETF | 3.39% | 3.56% |
#10
Prev: #10
|
1.9 | 36,647 | 4.8% |
P
S
|
800,671 | $25,989,781 | 2024 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
JPY
LAZARD ACTIVE E...
|
ETF | 2.43% | 2.60% |
#11
Prev: #11
|
1.5 | 27,006 | 4.9% |
P
S
|
582,605 | $18,640,971 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CCJ
CAMECO CORP
|
Energy | 2.08% | 2.08% |
#12
Prev: #12
|
1.3 | 7,535 | 4.5% |
P
S
|
174,183 | $15,936,003 | 2022 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MSFT
MICROSOFT CORP
|
Technology | 1.59% | 1.02% |
#13
2
Prev: #15
|
3.6 | 12,082 | 91.9% |
P
S
|
25,224 | $12,198,831 | 2019 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
WMT
WALMART INC
|
Consumer Defensive | 1.26% | 1.02% |
#14
1
Prev: #13
|
3.0 | 19,814 | 29.8% |
P
S
|
86,403 | $9,646,463 | 2019 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
UBS
UBS GROUP AG
|
Financial Services | 1.25% | 0.93% |
#15
3
Prev: #18
|
3.0 | 55,495 | 36.5% |
P
S
|
207,412 | $9,605,250 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ULTA
ULTA BEAUTY INC
|
Consumer Cyclical | 1.18% | 0.92% |
#16
3
Prev: #19
|
3.0 | 3,730 | 33.2% |
P
S
|
14,966 | $9,054,580 | 2020 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
JPM
JPMORGAN CHASE ...
|
Financial Services | 1.15% | 0.99% |
#17
1
Prev: #16
|
3.0 | 6,315 | 29.9% |
P
S
|
27,436 | $8,840,428 | 2019 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SCHW
SCHWAB CHARLES ...
|
Financial Services | 1.11% | 0.89% |
#18
2
Prev: #20
|
2.9 | 22,874 | 36.5% |
P
S
|
85,461 | $8,538,409 | 2018 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MUFG
MITSUBISHI UFJ ...
|
Financial Services | 1.10% | 0.94% |
#19
2
Prev: #17
|
2.9 | 137,960 | 34.9% |
P
S
|
533,233 | $8,457,075 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IAUM
ISHARES GOLD TR
|
Bond/Debt | 0.85% | — |
#20
Prev: #—
|
3.8 | 152,381 | no change |
NEW
|
152,381 | $6,550,859 | 2025 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 0.81% | 0.16% |
#21
15
Prev: #36
|
3.3 | 22,050 | 458.0% |
P
S
|
26,864 | $6,200,748 | 2018 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
UNH
UNITEDHEALTH GR...
|
Healthcare | 0.44% | 1.02% |
#22
8
Prev: #14
|
0.2 | -9,634 | -48.7% |
P
S
|
10,150 | $3,350,617 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
COP
CONOCOPHILLIPS
|
Energy | 0.42% | — |
#23
Prev: #—
|
3.7 | 34,632 | no change |
NEW
|
34,632 | $3,241,902 | 2019 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SPY
SPDR S&P 500 ET...
|
ETF | 0.42% | 0.43% |
#24
1
Prev: #23
|
2.2 | 389 | 9.0% |
P
S
|
4,707 | $3,219,180 | 2013 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
META
META PLATFORMS ...
|
Communication Services | 0.39% | 0.18% |
#25
6
Prev: #31
|
3.2 | 2,918 | 178.5% |
P
S
|
4,553 | $3,005,390 | 2019 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BRT
BRT APARTMENTS ...
|
Real Estate | 0.39% | 0.48% |
#26
4
Prev: #22
|
0.7 | 1 | 0.0% |
P
S
|
201,264 | $2,998,710 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GOOG
ALPHABET INC
|
Communication Services | 0.38% | — |
#27
Prev: #—
|
3.7 | 9,363 | no change |
NEW
|
9,363 | $2,938,109 | 2019 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
WDAY
WORKDAY INC
|
Technology | 0.38% | — |
#28
Prev: #—
|
3.7 | 13,510 | no change |
NEW
|
13,510 | $2,901,678 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
TSM
TAIWAN SEMICOND...
|
Technology | 0.36% | — |
#29
Prev: #—
|
3.6 | 9,083 | no change |
NEW
|
9,083 | $2,767,458 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
COF
CAPITAL ONE FIN...
|
Financial Services | 0.36% | — |
#30
Prev: #—
|
3.6 | 11,278 | no change |
NEW
|
11,278 | $2,733,336 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AER
AERCAP HOLDINGS...
|
Industrials | 0.33% | — |
#31
Prev: #—
|
3.6 | 17,516 | no change |
NEW
|
17,516 | $2,518,100 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
NFLX
NETFLIX INC
|
ETF | 0.32% | 0.35% |
#32
8
Prev: #24
|
3.1 | 24,360 | 1258.3% |
P
S
|
26,296 | $2,465,513 | 2019 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
DHR
DANAHER CORPORA...
|
Healthcare | 0.32% | — |
#33
Prev: #—
|
3.6 | 10,598 | no change |
NEW
|
10,598 | $2,429,486 | 2019 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
WWD
WOODWARD INC
|
Industrials | 0.29% | — |
#34
Prev: #—
|
3.6 | 7,437 | no change |
NEW
|
7,437 | $2,248,354 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
CMCSA
COMCAST CORP NE...
|
Communication Services | 0.28% | — |
#35
Prev: #—
|
3.6 | 71,047 | no change |
NEW
|
71,047 | $2,123,595 | 2019 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IEI
ISHARES TR
|
ETF | 0.26% | 0.28% |
#36
11
Prev: #25
|
2.1 | 912 | 5.8% |
P
S
|
16,508 | $1,970,230 | 2020 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
IGSB
ISHARES TR
|
ETF | 0.26% | 0.28% |
#37
11
Prev: #26
|
2.1 | 2,060 | 5.9% |
P
S
|
37,203 | $1,967,295 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
LEN
LENNAR CORP
|
Consumer Cyclical | 0.25% | — |
#38
Prev: #—
|
3.6 | 18,917 | no change |
NEW
|
18,917 | $1,944,668 | 2025 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
GOOGL
ALPHABET INC
|
Communication Services | 0.25% | 0.16% |
#39
4
Prev: #35
|
2.6 | 1,741 | 39.8% |
P
S
|
6,110 | $1,912,430 | 2019 Q1 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SAP
SAP SE
|
Technology | 0.24% | — |
#40
Prev: #—
|
3.6 | 7,535 | no change |
NEW
|
7,535 | $1,830,327 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MELI
MERCADOLIBRE IN...
|
Consumer Cyclical | 0.22% | 0.04% |
#41
10
Prev: #51
|
3.1 | 718 | 608.5% |
P
S
|
836 | $1,683,921 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
ASML
ASML HOLDING N ...
|
Technology | 0.21% | — |
#42
Prev: #—
|
3.6 | 1,531 | no change |
NEW
|
1,531 | $1,637,956 | 2019 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
SHOP
SHOPIFY INC
|
Technology | 0.21% | 0.18% |
#43
10
Prev: #33
|
2.6 | 2,103 | 26.5% |
P
S
|
10,030 | $1,614,529 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AAPL
APPLE INC
|
Technology | 0.21% | 0.19% |
#44
15
Prev: #29
|
2.1 | 728 | 14.3% |
P
S
|
5,803 | $1,577,608 | 2019 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
EL
LAUDER ESTEE CO...
|
Consumer Defensive | 0.20% | — |
#45
Prev: #—
|
3.6 | 14,792 | no change |
NEW
|
14,792 | $1,549,018 | 2024 Q4 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
BGC
BGC GROUP INC
|
Financial Services | 0.20% | 0.24% |
#46
19
Prev: #27
|
1.1 | no change | no change |
P
S
|
170,000 | $1,518,100 | 2025 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
AA
ALCOA CORP
|
Basic Materials | 0.19% | — |
#47
Prev: #—
|
3.6 | 27,511 | no change |
NEW
|
27,511 | $1,461,935 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
QLD
PROSHARES TR
|
ETF | 0.19% | 0.18% |
#48
16
Prev: #32
|
3.1 | 12,145 | 141.1% |
P
S
|
20,750 | $1,461,008 | 2025 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
MA
MASTERCARD INCO...
|
Financial Services | 0.19% | 0.17% |
#49
15
Prev: #34
|
2.6 | 554 | 28.2% |
P
S
|
2,521 | $1,439,188 | 2019 Q2 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) | |||
|
HUM
HUMANA INC
|
Healthcare | 0.18% | — |
#50
Prev: #—
|
3.6 | 5,474 | no change |
NEW
|
5,474 | $1,406,900 | 2024 Q3 | 13F Filing | 2025-12-31 | 2026-02-14 (Est.) |
Showing 1-50 of 88 holdings