2026 Q1 Portfolio Activity
In 2026 Q1, Permanens Capital L.P. maintained a portfolio of 99 distinct positions. The most significant new addition was BLACKROCK ETF TRUST II, now representing 5.28% of the total fund value. They heavily accumulated shares in ISHARES GOLD TR, increasing the position by 68.0%. Conversely, Permanens Capital L.P. completely exited their position in ISHARES SILVER TR.
Position History
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Total Positions
99
Quarter
2026 Q1
Top Holding
IAU (21.4%)
Top 10 Concentration
74.8%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 99
Permanens Capital L.P. Full Holdings List — 2026 Q1
| 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 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
IAU
ISHARES GOLD TR
|
ETF | 21.41% | 11.88% |
#1
1
Prev: #2
|
9.0 |
—
|
763,004 | 68.0% |
P
S
|
1,885,466 | $166,221,081 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
VTV
VANGUARD INDEX ...
|
ETF | 15.15% | 13.98% |
#2
1
Prev: #1
|
7.5 |
—
|
37,934 | 6.8% |
P
S
|
599,227 | $117,568,337 | 2016 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BIL
SPDR SERIES TRU...
|
ETF | 11.66% | 7.91% |
#3
1
Prev: #4
|
7.5 |
—
|
323,670 | 48.7% |
P
S
|
987,782 | $90,520,342 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
VUG
VANGUARD INDEX ...
|
Warrant | 6.46% | 10.28% |
#4
1
Prev: #3
|
3.1 |
—
|
-46,732 | -28.9% |
P
S
|
114,815 | $50,150,044 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
N/A
BLACKROCK ETF T...
|
|
ETF | 5.28% | — |
#5
Prev: #—
|
6.1 |
—
|
822,353 | — |
NEW
|
822,353 | $40,964,835 | — | 13F Filing | 2026-03-31 | 2026-05-15 | ||
|
SCHI
SCHWAB STRATEGI...
|
ETF | 3.94% | — |
#6
Prev: #—
|
5.1 |
—
|
1,349,942 | — |
NEW
|
1,349,942 | $30,616,685 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
IEI
ISHARES TR
|
ETF | 3.94% | 0.26% |
#7
29
Prev: #36
|
4.6 |
—
|
241,436 | 1462.5% |
P
S
|
257,944 | $30,592,158 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
JPY
LAZARD ACTIVE E...
|
ETF | 2.53% | 2.43% |
#8
3
Prev: #11
|
1.5 |
—
|
13,646 | 2.3% |
P
S
|
596,251 | $19,630,074 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CCJ
CAMECO CORP
|
Energy | 2.37% | 2.08% |
#9
3
Prev: #12
|
1.4 |
—
|
-4,921 | -2.8% |
P
S
|
169,262 | $18,383,546 | 2022 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
PREF
PRINCIPAL EXCHA...
|
Preferred | 2.05% | 4.27% |
#10
1
Prev: #9
|
0.8 |
—
|
-868,623 | -50.6% |
P
S
|
847,144 | $15,943,250 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BBEU
J P MORGAN EXCH...
|
ETF | 1.93% | 5.36% |
#11
4
Prev: #7
|
0.8 |
—
|
-353,696 | -63.1% |
P
S
|
206,582 | $14,958,603 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
IAUM
ISHARES GOLD TR
|
Bond/Debt | 1.60% | 0.85% |
#12
8
Prev: #20
|
3.6 |
—
|
113,270 | 74.3% |
P
S
|
265,651 | $12,405,902 | 2025 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MSFT
MICROSOFT CORP
|
Technology | 1.49% | 1.59% |
#13
Prev: #13
|
3.1 |
—
|
5,922 | 23.5% |
P
S
|
31,146 | $11,529,315 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
WMT
WALMART INC
|
Consumer Defensive | 1.39% | 1.26% |
#14
Prev: #14
|
1.1 |
—
|
285 | 0.3% |
P
S
|
86,688 | $10,795,040 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BKR
BAKER HUGHES CO...
|
Energy | 1.37% | — |
#15
Prev: #—
|
4.0 |
—
|
174,553 | — |
NEW
|
174,553 | $10,656,461 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
JPM
JPMORGAN CHASE ...
|
Financial Services | 1.29% | 1.15% |
#16
1
Prev: #17
|
3.0 |
—
|
6,628 | 24.2% |
P
S
|
34,064 | $10,020,266 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MUFG
MITSUBISHI UFJ ...
|
Financial Services | 1.26% | 1.10% |
#17
2
Prev: #19
|
2.5 |
—
|
42,411 | 8.0% |
P
S
|
575,644 | $9,768,679 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ULTA
ULTA BEAUTY INC
|
Consumer Cyclical | 1.25% | 1.18% |
#18
2
Prev: #16
|
3.0 |
—
|
3,618 | 24.2% |
P
S
|
18,584 | $9,714,043 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BRK/B
BERKSHIRE HATHA...
|
Financial Services | 1.22% | — |
#19
Prev: #—
|
4.0 |
—
|
19,820 | — |
NEW
|
19,820 | $9,497,744 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
EAGL
2023 ETF SERIES...
|
ETF | 1.17% | 3.39% |
#20
10
Prev: #10
|
0.5 |
—
|
-501,534 | -62.6% |
P
S
|
299,137 | $9,099,748 | 2024 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BKLN
INVESCO EXCH TR...
|
ETF | 1.01% | — |
#21
Prev: #—
|
3.9 |
—
|
383,369 | — |
NEW
|
383,369 | $7,824,561 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BRHY
BLACKROCK ETF T...
|
ETF | 1.01% | — |
#22
Prev: #—
|
3.9 |
—
|
154,756 | — |
NEW
|
154,756 | $7,810,396 | 2026 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
RSP
INVESCO EXCHANG...
|
Unknown | 0.84% | — |
#23
Prev: #—
|
3.8 |
—
|
34,000 | — |
NEW
|
34,000 | $6,525,280 | 2020 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SPY
STATE STR SPDR ...
|
ETF | 0.52% | 0.42% |
#24
Prev: #24
|
2.7 |
—
|
1,526 | 32.4% |
P
S
|
6,233 | $4,064,673 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AMZN
AMAZON COM INC
|
Consumer Cyclical | 0.50% | 0.81% |
#25
4
Prev: #21
|
0.2 |
—
|
-8,370 | -31.2% |
P
S
|
18,494 | $3,851,745 | 2018 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DXJ
WISDOMTREE TR
|
Unknown | 0.49% | 5.50% |
#26
20
Prev: #6
|
0.2 |
—
|
-268,841 | -91.8% |
P
S
|
23,914 | $3,792,282 | 2013 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
NFLX
NETFLIX INC.
|
Communication Services | 0.39% | 0.32% |
#27
5
Prev: #32
|
2.7 |
—
|
5,484 | 20.9% |
P
S
|
31,780 | $3,055,647 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BRT
BRT APARTMENTS ...
|
Real Estate | 0.35% | 0.39% |
#28
2
Prev: #26
|
0.6 |
—
|
1 | 0.0% |
P
S
|
201,265 | $2,725,007 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
COP
CONOCOPHILLIPS
|
Energy | 0.32% | 0.42% |
#29
6
Prev: #23
|
0.1 |
—
|
-15,563 | -44.9% |
P
S
|
19,069 | $2,517,108 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
META
META PLATFORMS ...
|
Communication Services | 0.28% | 0.39% |
#30
5
Prev: #25
|
0.6 |
—
|
-703 | -15.4% |
P
S
|
3,850 | $2,202,701 | 2019 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
TSM
TAIWAN SEMICOND...
|
Technology | 0.23% | 0.36% |
#31
2
Prev: #29
|
0.1 |
—
|
-3,809 | -41.9% |
P
S
|
5,274 | $1,787,300 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GOOGL
ALPHABET INC
|
Communication Services | 0.23% | 0.25% |
#32
7
Prev: #39
|
1.1 |
—
|
no change | no change |
P
S
|
6,110 | $1,756,992 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
BGC
BGC GROUP INC
|
Financial Services | 0.21% | 0.20% |
#33
13
Prev: #46
|
1.1 |
—
|
no change | no change |
P
S
|
170,000 | $1,662,600 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MELI
MERCADOLIBRE IN...
|
Consumer Cyclical | 0.21% | 0.22% |
#34
7
Prev: #41
|
2.1 |
—
|
121 | 14.5% |
P
S
|
957 | $1,654,672 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
UNH
UNITEDHEALTH GR...
|
Healthcare | 0.21% | 0.44% |
#35
13
Prev: #22
|
0.1 |
—
|
-4,065 | -40.0% |
P
S
|
6,085 | $1,646,540 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
MA
MASTERCARD INCO...
|
Financial Services | 0.21% | 0.19% |
#36
13
Prev: #49
|
2.6 |
—
|
690 | 27.4% |
P
S
|
3,211 | $1,604,408 | 2019 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
GOOG
ALPHABET INC
|
Communication Services | 0.20% | 0.38% |
#37
10
Prev: #27
|
0.1 |
—
|
-3,859 | -41.2% |
P
S
|
5,504 | $1,578,877 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AAPL
APPLE INC
|
Technology | 0.19% | 0.21% |
#38
6
Prev: #44
|
1.1 |
—
|
no change | no change |
P
S
|
5,803 | $1,472,748 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SAP
SAP SE
|
Technology | 0.19% | 0.24% |
#39
1
Prev: #40
|
2.1 |
—
|
959 | 12.7% |
P
S
|
8,494 | $1,454,258 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
DHR
DANAHER CORP DE...
|
Healthcare | 0.17% | 0.32% |
#40
7
Prev: #33
|
0.1 |
—
|
-3,708 | -35.0% |
P
S
|
6,890 | $1,309,100 | 2019 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
QQQ
INVESCO QQQ TR
|
ETF | 0.16% | 0.09% |
#41
18
Prev: #59
|
3.1 |
—
|
1,099 | 99.5% |
P
S
|
2,204 | $1,271,954 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
QLD
PROSHARES TR
|
ETF | 0.16% | 0.19% |
#42
6
Prev: #48
|
1.1 |
—
|
no change | no change |
P
S
|
20,750 | $1,265,750 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
COF
CAPITAL ONE FIN...
|
Financial Services | 0.15% | 0.36% |
#43
13
Prev: #30
|
0.1 |
—
|
-4,731 | -41.9% |
P
S
|
6,547 | $1,194,369 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
SHOP
SHOPIFY INC
|
Technology | 0.15% | 0.21% |
#44
1
Prev: #43
|
1.1 |
—
|
no change | no change |
P
S
|
10,030 | $1,189,759 | 2025 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
ARCC
ARES CAPITAL CO...
|
Financial Services | 0.15% | 0.17% |
#45
7
Prev: #52
|
1.1 |
—
|
no change | no change |
P
S
|
65,544 | $1,181,112 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
WDAY
WORKDAY INC
|
Technology | 0.15% | 0.38% |
#46
18
Prev: #28
|
0.1 |
—
|
-4,684 | -34.7% |
P
S
|
8,826 | $1,146,674 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
CMCSA
COMCAST CORP NE...
|
Communication Services | 0.14% | 0.28% |
#47
12
Prev: #35
|
0.1 |
—
|
-33,146 | -46.7% |
P
S
|
37,901 | $1,088,138 | 2019 Q4 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
INTU
INTUIT
|
Technology | 0.13% | 0.08% |
#48
12
Prev: #60
|
3.1 |
—
|
1,337 | 146.3% |
P
S
|
2,251 | $973,287 | 2025 Q1 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
QXO
QXO INC
|
Industrials | 0.13% | 0.11% |
#49
8
Prev: #57
|
2.1 |
—
|
6,000 | 13.6% |
P
S
|
50,000 | $971,000 | 2025 Q2 | 13F Filing | 2026-03-31 | 2026-05-15 | |||
|
AER
AERCAP HOLDINGS...
|
Industrials | 0.12% | 0.33% |
#50
19
Prev: #31
|
0.0 |
—
|
-10,514 | -60.0% |
P
S
|
7,002 | $960,534 | 2024 Q3 | 13F Filing | 2026-03-31 | 2026-05-15 |
Showing 1-50 of 99 holdings