Permanent Capital Management, LP
CIK 2054108 · View on SEC EDGAR ↗
- Portfolio value
- $746.7M
- Positions
- 211
- As of
- June 30, 2026
#2,965 of 9,443 by 13F value · top 31.4%
Portfolio value QoQ: +16.1% 13F does not disclose cash
- Top 10 holdings weight
- 77.78%
- Top 25 holdings weight
- 85.67%
- Positions above 1%
- 10
- Effective number of positions
- 7.6
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 5.37% Est. buys $124,619,257 · sells $37,305,312
Median holding: 3.0 quarters Tracked Q4 2024–Q2 2026 · 76.2% still held
- New positions
- 66
- Increased
- 50
- Decreased
- 37
- Closed
- 10
On this page
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Sector breakdown
Technology
6.7%
Industrials
2.3%
Financial Services
1.7%
Communication Services
1.4%
Health Care
1.4%
Retail
1.1%
Financials
1.1%
Energy
1.0%
Utilities
0.8%
Consumer Discretionary
0.7%
Real Estate
0.6%
Consumer products
0.5%
Packaging
0.4%
Consumer Staples
0.4%
Materials
0.3%
Telecommunication
0.1%
Communications
0.0%
Logistics & Transportation
0.0%
Other/Unmapped
79.6%
Full portfolio 211 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| VT | $182,131,839 | 24.39% | 1,160,445 | $84,850,774 | Up ×2 | ||
| VOO | $173,918,722 | 23.29% | 253,227 | $11,008,876 | Up ×3 | ||
| AGG | $64,490,746 | 8.64% | 651,553 | $330,952 | Up ×3 | ||
| VEA | $48,120,730 | 6.44% | 675,379 | $2,117,361 | Up ×3 | ||
| VGIT Vanguard Intermediate-Term Treasury ETF | $35,440,116 | 4.75% | 600,884 | $112,882 | Up ×2 | ||
| MSFT Microsoft Corporation - Common Stock | $27,233,458 | 3.65% | 73,008 | $-2,398,588 | Up ×2 | ||
| VWO | $17,443,582 | 2.34% | 292,236 | $217,149 | Down ×2 | ||
| USFR | $14,036,628 | 1.88% | 278,781 | $197,627 | Up ×1 | ||
| VTI | $9,403,081 | 1.26% | 25,411 | $1,736,855 | Up ×1 | ||
| ACWI iShares MSCI ACWI ETF | $8,611,688 | 1.15% | 54,862 | $297,901 | |||
| SPTL | $7,294,181 | 0.98% | 278,085 | $-40,483 | Down ×1 | ||
| CAT Caterpillar, Inc. Common Stock | $5,819,778 | 0.78% | 5,465 | $811,505 | Down ×1 | ||
| NVDA NVIDIA Corporation - Common Stock | $4,615,986 | 0.62% | 23,070 | $19,091 | Up ×3 | ||
| IWF | $4,359,537 | 0.58% | 35,109 | $175,669 | Up ×3 | ||
| AAPL Apple Inc. - Common Stock | $4,206,855 | 0.56% | 14,538 | $280,149 | Up ×3 | ||
| AUR Aurora Innovation, Inc. - Class A Common Stock | $4,113,824 | 0.55% | 603,200 | $-3,766,687 | Down ×1 | ||
| AMZN Amazon.com, Inc. - Common Stock | $3,968,943 | 0.53% | 16,652 | $-450,137 | Down ×1 | ||
| EQTY | $3,862,315 | 0.52% | 138,184 | Up ×1 | |||
| GOOGL Alphabet Inc. - Class A Common Stock | $3,581,920 | 0.48% | 10,023 | $-323,030 | Down ×1 | ||
| UBS UBS Group AG Registered Ordinary Shares | $3,197,267 | 0.43% | 64,477 | $364,413 | |||
| SPY SPY | $3,133,199 | 0.42% | 4,185 | $125,607 | |||
| BK The Bank of New York Mellon Corporation Common Stock | $3,007,020 | 0.40% | 20,794 | $201,909 | |||
| GLD | $3,004,876 | 0.40% | 8,157 | $-450,919 | |||
| EXE Expand Energy Corporation - Common Stock | $2,428,846 | 0.33% | 26,635 | $141,095 | Up ×1 | ||
| KMB Kimberly-Clark Corporation - Common Stock | $2,278,658 | 0.31% | 20,522 | $-111,222 | Down ×1 | ||
| DGX Quest Diagnostics Incorporated Common Stock | $2,269,137 | 0.30% | 10,706 | $1,502,824 | Up ×1 | ||
| CDZI Cadiz, Inc. - Common Stock | $2,247,502 | 0.30% | 537,680 | $195,000 | Up ×1 | ||
| UNP Union Pacific Corporation Common Stock | $2,152,336 | 0.29% | 7,913 | $19,941 | |||
| GOOG Alphabet Inc. - Class C Capital Stock | $2,098,427 | 0.28% | 5,939 | $-197,032 | Down ×1 | ||
| RSP | $1,903,177 | 0.25% | 8,945 | $-20,979,317 | Down ×2 | ||
| OI O-I Glass, Inc. Common Stock | $1,798,672 | 0.24% | 186,778 | $1,075,220 | Up ×1 | ||
| L Loews Corporation Common Stock | $1,749,547 | 0.23% | 15,454 | $9,159 | Down ×1 | ||
| ALK Alaska Air Group, Inc. Common Stock | $1,727,768 | 0.23% | 33,099 | $1,030,241 | Up ×2 | ||
| AVGO Broadcom Inc. - Common Stock | $1,538,068 | 0.21% | 4,072 | $-97,423 | Up ×3 | ||
| JNJ Johnson & Johnson Common Stock | $1,537,776 | 0.21% | 6,055 | $207,404 | Up ×2 | ||
| GLNG Golar LNG Limited - Common Shares | $1,442,626 | 0.19% | 28,796 | $-127,151 | |||
| VTV | $1,412,272 | 0.19% | 6,480 | $1,179,644 | Up ×1 | ||
| COF Capital One Financial Corporation Common Stock | $1,376,053 | 0.18% | 6,859 | $63,926 | |||
| MGM MGM Resorts International Common Stock | $1,360,816 | 0.18% | 28,463 | $112,205 | Down ×1 | ||
| META Meta Platforms, Inc. - Class A Common Stock | $1,357,529 | 0.18% | 2,410 | $-55,983 | Up ×2 | ||
| TECK Teck Resources Ltd Ordinary Shares | $1,279,936 | 0.17% | 21,526 | $22,172 | |||
| IBM International Business Machines Corporation Common Stock | $1,208,641 | 0.16% | 4,298 | $783,869 | Up ×1 | ||
| IWM | $1,203,903 | 0.16% | 4,007 | $35,873 | Down ×2 | ||
| VXUS Vanguard Total International Stock ETF | $1,195,663 | 0.16% | 13,986 | $530,186 | Up ×1 | ||
| WMT Walmart Inc. - Common Stock | $1,175,979 | 0.16% | 10,383 | $-193,191 | Up ×1 | ||
| HZO MarineMax, Inc. (FL) Common Stock | $1,152,578 | 0.15% | 31,474 | $236,433 | Down ×2 | ||
| OEF | $1,152,016 | 0.15% | 3,149 | ||||
| AXS Axis Capital Holdings Limited Common Stock | $1,083,981 | 0.15% | 10,053 | $74,559 | |||
| UL Unilever PLC American Depositary Shares (each representing One Ordinary Share) | $1,061,010 | 0.14% | 17,648 | $20,218 | Up ×2 | ||
| NTRS Northern Trust Corporation - Common Stock | $1,048,293 | 0.14% | 6,011 | $48,423 | |||
| QQQ Invesco QQQ Trust, Series 1 | $1,044,272 | 0.14% | 1,423 | $94,078 | |||
| JPM JP Morgan Chase & Co. Common Stock | $1,033,621 | 0.14% | 3,158 | $44,524 | |||
| KO Coca-Cola Company (The) Common Stock | $1,000,922 | 0.13% | 12,263 | $35,088 | |||
| GM General Motors Company Common Stock | $975,216 | 0.13% | 12,652 | $2,558 | Up ×1 | ||
| AIG American International Group, Inc. New Common Stock | $959,052 | 0.13% | 12,868 | $-3,624 | Down ×1 | ||
| DE Deere & Company Common Stock | $940,570 | 0.13% | 1,479 | $65,179 | Down ×1 | ||
| COST Costco Wholesale Corporation - Common Stock | $926,045 | 0.12% | 990 | $5,866 | Up ×2 | ||
| ABBV AbbVie Inc. Common Stock | $911,485 | 0.12% | 3,622 | $139,976 | |||
| BC Brunswick Corporation Common Stock | $903,895 | 0.12% | 10,730 | $51,396 | |||
| AMAT Applied Materials, Inc. - Common Stock | $891,459 | 0.12% | 1,233 | $405,053 | |||
| BA Boeing Company (The) Common Stock | $870,426 | 0.12% | 4,021 | $-50,275 | Up ×1 | ||
| C Citigroup, Inc. Common Stock | $862,154 | 0.12% | 6,160 | $73,797 | |||
| HHH Howard Hughes Holdings Inc. Common Stock | $857,880 | 0.11% | 12,000 | Up ×1 | |||
| QXO QXO, Inc. Common Stock | $855,811 | 0.11% | 49,526 | Up ×1 | |||
| INTC Intel Corporation - Common Stock | $842,248 | 0.11% | 6,032 | $498,908 | Up ×1 | ||
| CAH Cardinal Health, Inc. Common Stock | $811,960 | 0.11% | 3,418 | $392,832 | Up ×2 | ||
| KBWB Invesco KBW Bank ETF | $811,343 | 0.11% | 8,726 | $49,127 | Down ×1 | ||
| PLD Prologis, Inc. Common Stock | $798,189 | 0.11% | 5,892 | $-38,593 | |||
| LIF Life360, Inc. - Common Stock | $793,198 | 0.11% | 14,328 | $175,804 | |||
| Unknown issuer (CUSIP: 438516205) | $771,311 | 0.10% | 3,445 | Up ×1 | |||
| PCG Pacific Gas & Electric Co. Common Stock | $767,800 | 0.10% | 45,577 | $-346,106 | Down ×2 | ||
| Unknown issuer (CUSIP: 43849R105) | $761,597 | 0.10% | 3,445 | Up ×1 | |||
| PRMB Primo Brands Corporation Class A Common Stock | $749,697 | 0.10% | 30,675 | $124,541 | |||
| IMRX Immuneering Corporation - Class A Common Stock | $748,500 | 0.10% | 150,000 | Up ×1 | |||
| GLW Corning Incorporated Common Stock | $739,821 | 0.10% | 2,896 | $450,594 | Up ×1 | ||
| BWXT BWX Technologies, Inc. Common Stock | $737,529 | 0.10% | 3,789 | $-114,615 | Down ×3 | ||
| VZ Verizon Communications Inc. Common Stock | $709,016 | 0.09% | 16,746 | $-27,335 | Up ×2 | ||
| XOM Exxon Mobil Corporation Common Stock | $707,799 | 0.09% | 5,177 | $-92,711 | Down ×2 | ||
| EFA | $690,594 | 0.09% | 6,648 | $10,371 | |||
| NEE NextEra Energy, Inc. Common Stock | $685,484 | 0.09% | 7,810 | $-78,959 | |||
| BP BP p.l.c. Common Stock | $680,949 | 0.09% | 18,429 | $-192,066 | Up ×1 | ||
| BAC Bank of America Corporation Common Stock | $679,714 | 0.09% | 11,929 | $41,990 | |||
| V Visa Inc. | $656,331 | 0.09% | 1,913 | $-100,982 | Down ×3 | ||
| NWSA News Corporation - Class A Common Stock | $654,544 | 0.09% | 26,361 | $-39,278 | |||
| LLY Eli Lilly and Company Common Stock | $652,490 | 0.09% | 544 | $145,002 | Up ×1 | ||
| BDX Becton, Dickinson and Company Common Stock | $647,238 | 0.09% | 4,277 | $-52,505 | Down ×1 | ||
| TSLA Tesla, Inc. - Common Stock | $641,415 | 0.09% | 1,525 | $304,436 | Up ×3 | ||
| BFLY Butterfly Network, Inc. Class A Common Stock | $631,500 | 0.08% | 75,000 | $272,250 | |||
| PGR Progressive Corporation (The) Common Stock | $630,884 | 0.08% | 2,888 | $49,587 | |||
| MU Micron Technology, Inc. - Common Stock | $626,058 | 0.08% | 542 | Up ×1 | |||
| SW Smurfit WestRock plc Ordinary Shares | $557,942 | 0.07% | 12,061 | Up ×1 | |||
| FRMI Fermi Inc. - Common Stock | $549,600 | 0.07% | 60,000 | $241,800 | |||
| DGRW WisdomTree U.S. Quality Dividend Growth Fund | $549,315 | 0.07% | 5,745 | Up ×1 | |||
| MRSH Marsh Common Stock | $542,011 | 0.07% | 3,252 | $-6,309 | |||
| VGT | $532,806 | 0.07% | 4,458 | Up ×1 | |||
| LRCX Lam Research Corporation - Common Stock | $532,015 | 0.07% | 1,227 | $266,419 | Up ×1 | ||
| DFIV | $522,374 | 0.07% | 9,670 | Up ×1 | |||
| AMD Advanced Micro Devices, Inc. - Common Stock | $491,450 | 0.07% | 846 | Up ×1 | |||
| WAT Waters Corporation Common Stock | $490,552 | 0.07% | 1,308 | $66,907 | Down ×1 | ||
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | $485,476 | 0.07% | 1,015 | $102,882 | Up ×2 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| VOO | $173,918,722 | 23.29% | up ×3 |
| AGG | $64,490,746 | 8.64% | up ×3 |
| VEA | $48,120,730 | 6.44% | up ×3 |
| NVDA | $4,615,986 | 0.62% | up ×3 |
| IWF | $4,359,537 | 0.58% | up ×3 |
| AAPL | $4,206,855 | 0.56% | up ×3 |
| AVGO | $1,538,068 | 0.21% | up ×3 |
| TSLA | $641,415 | 0.09% | up ×3 |
| DLR | $476,964 | 0.06% | up ×3 |
| RPC | $107,681 | 0.01% | up ×3 |
Biggest new bets
New positions opened this quarter, largest first.
| Security | Value | Shares | % of portfolio |
|---|---|---|---|
| EQTY | $3,862,315 | 138,184 | 0.52% |
| OEF | $1,152,016 | 3,149 | 0.15% |
| HHH | $857,880 | 12,000 | 0.11% |
| QXO | $855,811 | 49,526 | 0.11% |
| Unknown issuer (CUSIP: 438516205) | $771,311 | 3,445 | 0.10% |
| Unknown issuer (CUSIP: 43849R105) | $761,597 | 3,445 | 0.10% |
| IMRX | $748,500 | 150,000 | 0.10% |
| MU | $626,058 | 542 | 0.08% |
| SW | $557,942 | 12,061 | 0.07% |
| DGRW | $549,315 | 5,745 | 0.07% |
| VGT | $532,806 | 4,458 | 0.07% |
| DFIV | $522,374 | 9,670 | 0.07% |
| AMD | $491,450 | 846 | 0.07% |
| Unknown issuer (CUSIP: 77926X320) | $478,770 | 6,483 | 0.06% |
| TKR | $417,068 | 2,870 | 0.06% |
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| VT | Bought more | +517K | +$84.9M |
| VOO | Bought more | +7K | +$11.0M |
| AUR | Trimmed | -737K | -$3.8M |
| MSFT | Bought more | +341 | -$2.4M |
| VEA | Bought more | +7K | +$2.1M |
| VTI | Bought more | +4K | +$1.7M |
| DGX | Bought more | +7K | +$1.5M |
| OI | Bought more | +107K | +$1.1M |
| ALK | Bought more | +15K | +$1.0M |
| CAT | Trimmed | -152 | +$812K |
2 positions hidden (data completeness check)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| VB | June 30, 2026 | 13,892 | $3,950,846 | No longer tracked |
| ULXXXX | Dec. 31, 2025 | 19,841 | $1,176,174 | No longer tracked |
| MTN | Dec. 31, 2025 | 7,296 | $1,091,263 | 15.3% |
| CI | Dec. 31, 2025 | 3,041 | $876,568 | 1.1% |
| VGSH | March 31, 2026 | 11,691 | $686,613 | |
| SEM | March 31, 2026 | 45,000 | $668,250 | No longer tracked |
| MYFW | March 31, 2026 | 21,000 | $563,010 | 27.4% |
| CVX | Dec. 31, 2025 | 3,554 | $551,901 | 36.4% |
| HUT | March 31, 2026 | 12,000 | $551,280 | 78.4% |
| OWL | March 31, 2026 | 35,518 | $530,639 | 28.5% |
| MBLY | Dec. 31, 2025 | 36,000 | $508,320 | -12.0% |
| CCO | March 31, 2025 | 348,234 | $477,081 | 113.5% |
| BSX | March 31, 2026 | 4,608 | $439,373 | -18.0% |
| FDVV | June 30, 2026 | 7,097 | $419,220 | No longer tracked |
| XLV | March 31, 2025 | 2,968 | $408,308 | No longer tracked |
| MRVL | March 31, 2025 | 3,592 | $396,736 | 295.1% |
| SUI | Dec. 31, 2025 | 3,000 | $390,120 | -1.2% |
| APO | March 31, 2026 | 2,654 | $384,193 | 19.2% |
| ETN | Dec. 31, 2025 | 1,004 | $375,747 | 30.8% |
| MTN | June 30, 2026 | 2,862 | $363,989 | 12.5% |
| FBND | June 30, 2026 | 7,942 | $361,838 | No longer tracked |
| B | March 31, 2026 | 8,025 | $349,489 | 11.4% |
| TRU | March 31, 2026 | 3,946 | $338,370 | 22.0% |
| CRH | June 30, 2026 | 2,765 | $327,431 | -12.8% |
| MCK | March 31, 2026 | 397 | $326,068 | -1.7% |
| SNV | Dec. 31, 2025 | 6,500 | $321,555 | No longer tracked |
| ISRG | June 30, 2026 | 641 | $293,328 | -0.7% |
| MSI | Dec. 31, 2025 | 622 | $285,112 | 26.0% |
| QUAL | June 30, 2026 | 1,369 | $283,725 | No longer tracked |
| COR | March 31, 2026 | 818 | $276,280 | 0.5% |
| DHR | March 31, 2026 | 1,149 | $263,397 | 13.2% |
| BN | June 30, 2026 | 5,823 | $262,734 | -1.3% |
| KCCA | March 31, 2026 | 15,540 | $261,227 | No longer tracked |
| TSLA | March 31, 2025 | 646 | $260,881 | 33.2% |
| TMO | June 30, 2026 | 511 | $244,749 | 23.6% |
| IT | March 31, 2026 | 955 | $240,927 | 22.9% |
| SHW | March 31, 2026 | 691 | $223,905 | 7.2% |
| AMAT | March 31, 2025 | 1,335 | $217,111 | 240.4% |
| ALIT | March 31, 2026 | 110,000 | $214,500 | 2193.3% |
| DEO | March 31, 2026 | 2,436 | $210,154 | 25.6% |
| CRH | March 31, 2025 | 2,258 | $208,910 | 6.1% |
| GBDC | June 30, 2026 | 11,728 | $160,674 | 2.8% |
| CEPT | Dec. 31, 2025 | 14,185 | $149,084 | No longer tracked |
| NZF | Dec. 31, 2025 | 11,397 | $144,052 | -2.5% |
| PCAPU | March 31, 2026 | 14,038 | $143,749 | 1.9% |
| VGM | Dec. 31, 2025 | 14,059 | $142,277 | -0.5% |
| NEA | Dec. 31, 2025 | 12,416 | $142,263 | -3.0% |
| NAD | Dec. 31, 2025 | 12,024 | $141,408 | -2.2% |
| MHD | March 31, 2026 | 12,038 | $141,330 | 1.8% |
| MMU | March 31, 2026 | 13,513 | $141,071 | -0.7% |
| VMO | Dec. 31, 2025 | 14,549 | $140,689 | 1.7% |
| MUC | March 31, 2026 | 13,206 | $139,984 | 2.4% |
| MUJ | March 31, 2026 | 11,741 | $139,721 | 6.1% |
| NRK | March 31, 2026 | 13,836 | $139,608 | 1.1% |
| MYI | March 31, 2026 | 12,842 | $139,593 | 2.4% |
| MQY | March 31, 2026 | 12,343 | $139,479 | 1.5% |
| VKQ | Dec. 31, 2025 | 14,352 | $138,497 | 1.2% |
| TBLA | March 31, 2026 | 30,000 | $138,300 | 23.9% |
| PML | March 31, 2026 | 18,185 | $137,836 | -3.1% |
| PCQ | Dec. 31, 2025 | 10,998 | $96,298 | 0.2% |
| VKI | March 31, 2025 | 10,728 | $93,763 | No longer tracked |
| MVF | March 31, 2026 | 12,751 | $88,365 | No longer tracked |