Latest Permanens Capital L.P. Stock Portfolio

Permanens Capital L.P. Performance:

2025 Q4: 5.35%YTD: 20.03%2024: 12.38%

Performance for 2025 Q4 is 5.35%, and YTD is 20.03%, and 2024 is 12.38%.

About Permanens Capital L.P. and 13F Hedge Fund Stock Holdings

On 2026-02-17, the fund reported it's updated stock portfolio. In the 13F Holdings report, Permanens Capital L.P. reported an equity portfolio of $766.8 Millions as of 31 Dec, 2025.

The top stock holdings of Permanens Capital L.P. are VB, IAU, VB. The fund has invested 14% of it's portfolio in VANGUARD INDEX FDS and 11.9% of portfolio in ISHARES GOLD TR.

The fund managers got completely rid off DBX ETF TR (ACSG), ISHARES BITCOIN TRUST ETF and DELL TECHNOLOGIES INC (DELL) stocks. They significantly reduced their stock positions in UNITEDHEALTH GROUP INC (UNH), VANGUARD INDEX FDS (VB) and BANK AMERICA CORP (BAC). Permanens Capital L.P. opened new stock positions in ISHARES GOLD TR (IAUM), CONOCOPHILLIPS (COP) and ALPHABET INC (GOOG). The fund showed a lot of confidence in some stocks as they added substantially to J P MORGAN EXCHANGE TRADED F (BBAX), MERCADOLIBRE INC (MELI) and AMAZON COM INC (AMZN).

Permanens Capital L.P. Annual Return Estimates Vs S&P 500

Our best estimate is that Permanens Capital L.P. made a return of 5.35% in the last quarter. In trailing 12 months, it's portfolio return was 20.03%.

Performance
S&P 500

New Buys

Ticker	$ Bought
ishares gold tr	6,550,860
conocophillips	3,241,900
alphabet inc	2,938,110
workday inc	2,901,680
taiwan semiconductor mfg ltd	2,767,460
capital one finl corp	2,733,340
aercap holdings nv	2,518,100
danaher corporation	2,429,490

New stocks bought by Permanens Capital L.P.

Additions

Ticker	% Inc.
j p morgan exchange traded f	9,627
mercadolibre inc	608
amazon com inc	458
ready capital corp	333
meta platforms inc	178
proshares tr	141
microsoft corp	91.93
spdr series trust	50.37

Additions to existing portfolio by Permanens Capital L.P.

Reductions

Ticker	% Reduced
unitedhealth group inc	-48.7
vanguard index fds	-36.34
bank america corp	-30.25
vanguard index fds	-14.48
liveone inc	-5.86
podcastone inc	-5.33
invesco qqq tr	-4.58
ishares silver tr	-3.41

Permanens Capital L.P. reduced stake in above stock

Sold off

Ticker	$ Sold
dbx etf tr	-37,937,600
ishares bitcoin trust etf	-3,502,070
nano dimension ltd	-78,500
terawulf inc	-513,900
ishares ethereum tr	-1,204,320
proshares tr ii	-261,000
dell technologies inc	-576,579
pimco etf tr	-49,084

Permanens Capital L.P. got rid off the above stocks

Sector Distribution

Permanens Capital L.P. has about 85.9% of it's holdings in Others sector.

Sector	%
Others	85.9
Financial Services	3.2
Consumer Cyclical	2.7
Technology	2.6
Consumer Defensive	1.5
Communication Services	1.5
Healthcare	1.1

Market Cap. Distribution

Permanens Capital L.P. has about 13.2% of it's portfolio invested in the large-cap and mega-cap stocks.

Category	%
UNALLOCATED	85.9
MEGA-CAP	7.4
LARGE-CAP	5.8

Stocks belong to which Index?

About 12.5% of the stocks held by Permanens Capital L.P. either belong to S&P 500 or RUSSELL 2000 index.

Index	%
Others	87.1
S&P 500	12.5

Top 5 Winners (%)		%
SLV	ishares silver tr	51.2 %
	podcastone inc	45.8 %
	alti global inc	30.3 %
GOOG	alphabet inc	23.7 %
LVO	liveone inc	13.9 %

Top 5 Winners ($)		$
SLV	ishares silver tr	20.2 M
IAU	ishares gold tr	8.5 M
AGZD	wisdomtree tr	4.7 M
VB	vanguard index fds	2.2 M
VB	vanguard index fds	1.6 M

Top 5 Losers (%)		%
BIB	proshares tr	-40.1 %
RC	ready capital corp	-33.6 %
NFLX	netflix inc	-19.5 %
BNDD	kraneshares trust	-16.8 %
TCPC	blackrock tcp capital corp	-11.8 %

Top 5 Losers ($)		$
BIB	proshares tr	-1.0 M
MSFT	microsoft corp	-0.7 M
NFLX	netflix inc	-0.6 M
ACWF	ishares tr	-0.4 M
META	meta platforms inc	-0.2 M

Permanens Capital L.P. Holdings Map

This heatmap illustrates the top 50 positions within the fund's portfolio.

Current Stock Holdings of Permanens Capital L.P.

Permanens Capital L.P. has 79 stocks in it's portfolio. About 73% of the portfolio is in top 10 stocks. BIB proved to be the most loss making stock for the portfolio. SLV was the most profitable stock for Permanens Capital L.P. last quarter.

Last Reported on: 17 Feb, 2026

Ticker	Namesorted ascending	% Portfolio	Shares Held	$ Value	Type	% Change
AA	alcoa corp	0.19	27,511	1,461,940	new

AAPL	apple inc	0.21	5,803	1,577,610	added	14.34

AAXJ	ishares tr	0.26	16,508	1,970,230	added	5.85

AAXJ	ishares tr	0.26	37,203	1,967,300	added	5.86

ACSG	dbx etf tr	0.00	0.00	0.00	sold off	-100

ACWF	ishares tr	4.74	847,010	36,311,300	added	7.75

AER	aercap holdings nv	0.33	17,516	2,518,100	new

AGZD	wisdomtree tr	5.50	292,755	42,203,600	added	0.35

AIB	midcap financial invstmnt co	0.02	11,029	126,169	unchanged	0.00

AMZN	amazon com inc	0.81	26,864	6,200,750	added	458

ANTX	elevance health inc formerly	0.12	2,546	892,500	new

AON	aon plc	0.18	3,877	1,368,120	new

ASML	asml holding n v	0.21	1,531	1,637,960	new

BAC	bank america corp	0.03	4,149	228,195	reduced	-30.25

BBAX	j p morgan exchange traded f	5.36	560,278	41,068,400	added	9,627

BIB	proshares tr	0.19	20,750	1,461,010	added	141

BIL	spdr series trust	7.92	664,112	60,686,600	added	50.37

BNDD	kraneshares trust	0.12	27,792	946,318	added	36.66

BOIL	proshares tr ii	0.04	9,000	323,370	new

BOIL	proshares tr ii	0.00	0.00	0.00	sold off	-100