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Permanent Capital Management, LP

CIK 2054108 · latest 13F filed 12 August 2026 · Read the filing on EDGAR

Permanent Capital Management, LP reported 211 US-listed holdings worth $746.7 million in its 13F for the quarter ended 30 June 2026, filed 12 August 2026. Its largest: Vanguard Intl Equity Index F (24.4%), Vanguard S&P 500 (23.3%) and iShares Trust (8.6%). Against the quarter before, it opened 66 positions, added to 42, trimmed 33 and sold out of 10.

Reported holdings$746.7M+16.1% on Q1 2026
Positions211+56 on Q1 2026
The largest ten77.8%of its reported holdings
Latest 13FQ2 2026filed 12 August 2026
Where the money is
Added toHeldTrimmed
VT24.4%VOO23.3%AGG8.6%VEA6.4%VGIT4.7%MSFT3.6%VWO2.3%USFR1.9%VTI1.3%ACWI1.2%SPTL1.0%197 more19.3%

The 14 largest of its 211 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.

Reported holdings, quarter by quarter
Q4 2024: $323.0 million in 74 positions$323MQ4 24Q1 2025: $348.9 million in 79 positions$349MQ1 25Q3 2025: $534.9 million in 151 positions$535MQ3 25Q4 2025: $513.3 million in 157 positions$513MQ4 25Q1 2026: $643.0 million in 155 positions$643MQ1 26Q2 2026: $746.7 million in 211 positions$747MQ2 26

What the fund reported holding at each quarter's end; hover a bar for the number of positions

What its reported holdings returned

Held through each quarter, the holdings it reported returned +7.4% over the 3 quarters to 30 June 2026, against +12.1% for the S&P 500.

Its reported holdingsThe S&P 500
100105110Q3 25Q4 25Q1 26Q2 26Its holdings +7.4%S&P 500 +12.1%

Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.

What it did on the quarter

Opened 66Added 42Held 70Trimmed 33Sold out 10
Opened: 66Added: 42Held: 70Trimmed: 33Sold out: 10

Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held

Opened 66

  1. Valued Advisers Trust EQTY$3.9 million
  2. iShares Trust OEF$1.2 million
  3. Howard Hughes Holdings Inc. HHH$857,880
  4. Qxo, Inc. QXO$855,811
  5. Honeywell International Inc. HON$771,311
  6. Honeywell Aerospace Inc. HONA$761,597
  7. Immuneering Corp. IMRX$748,500
  8. Micron Technology Inc. MU$626,058

and 58 more in the table below

Added to 42

  1. Vanguard Intl Equity Index F VT+517,052 shares · +80%
  2. Vanguard S&P 500 VOO+6,611 shares · +3%
  3. Quest Diagnostics Inc. DGX+6,760 shares · +171%
  4. VG Totl STK Vprs VTI+3,766 shares · +17%
  5. Vanguard Value ETF VTV+5,355 shares · +476%
  6. O-I Glass, Inc. OI+107,365 shares · +135%
  7. Alaska Air Group, Inc. ALK+15,264 shares · +86%
  8. International Business Machines Corp. IBM+2,459 shares · +134%

and 34 more in the table below

Trimmed 33

  1. Invesco Exchange Traded FD T RSP-103,533 shares · -92%
  2. iShares Trust IWF-105,207 shares · -75%
  3. Aurora Innovation, Inc. AUR-737,023 shares · -55%
  4. ServiceNow, Inc. NOW-5,859 shares · -58%
  5. SL Green Realty Corp. SLG-11,130 shares · -71%
  6. Kimberly Clark Corp. KMB-3,758 shares · -15%
  7. Pg&E Corp. PCG-21,445 shares · -32%
  8. MGM Resorts International MGM-3,602 shares · -11%

and 25 more in the table below

Sold out of 10

  1. Vanguard Small Cap ETF VB$4.0 million last quarter
  2. Fidelity Covington Trust FDVV$419,220 last quarter
  3. Vail Resorts Inc. MTN$363,989 last quarter
  4. Fidelity Merrimack STR Trust FBND$361,838 last quarter
  5. CRH Public Ltd. Co. CRH$327,431 last quarter
  6. Intuitive Surgical Inc. ISRG$293,328 last quarter
  7. iShares Edge MSCI USA Quality F QUAL$283,725 last quarter
  8. Brookfield Corporation BN$262,734 last quarter

What it holds

CompanySharesValueOf its bookChange in shares
Vanguard Intl Equity Index F VT1.2M$182.1 million24.39%+517.1K
Vanguard S&P 500 VOO253.2K$173.9 million23.29%+6.6K
iShares Trust AGG651.6K$64.5 million8.64%+4.1K
Vanguard Ftse Developed Markets VEA675.4K$48.1 million6.44%+6.7K
Vanguard Scottsdale FDS VGIT600.9K$35.4 million4.75%+5.0K
Microsoft Corp. MSFT73.0K$27.2 million3.65%+341
Vanguard Ftse Emerging Markets VWO292.2K$17.4 million2.34%-84
Wisdomtree Trust USFR278.8K$14.0 million1.88%+3.9K
VG Totl STK Vprs VTI25.4K$9.4 million1.26%+3.8K
iShares Trust ACWI54.9K$8.6 million1.15%no change
SPDR Ser Trust SPTL278.1K$7.3 million0.98%-3.9K
Caterpillar Inc. CAT5.5K$5.8 million0.78%-152
NVIDIA Corp. NVDA23.1K$4.6 million0.62%+36
iShares Trust IWF35.1K$4.4 million0.58%-105.2K
Apple Inc. AAPL14.5K$4.2 million0.56%+67
Aurora Innovation, Inc. AUR603.2K$4.1 million0.55%-737.0K
Amazon.com Inc. AMZN16.7K$4.0 million0.53%-20
Valued Advisers Trust EQTY138.2K$3.9 million0.52%new
Alphabet Inc. GOOGL10.0K$3.6 million0.48%-125
UBS Group AG UBS64.5K$3.2 million0.43%no change
SPDR S&P 500 SPY4.2K$3.1 million0.42%no change
Bank of New York Mellon Corp. BNY20.8K$3.0 million0.40%no change
SPDR Gold Trust GLD8.2K$3.0 million0.40%no change
Expand Energy Corp. EXE26.6K$2.4 million0.33%+4.2K
Kimberly Clark Corp. KMB20.5K$2.3 million0.31%-3.8K
Quest Diagnostics Inc. DGX10.7K$2.3 million0.30%+6.8K
Cadiz Inc. CDZI537.7K$2.2 million0.30%+63.7K
Union Pacific Corp. UNP7.9K$2.2 million0.29%no change
Alphabet Inc. GOOG5.9K$2.1 million0.28%-71
Invesco Exchange Traded FD T RSP8.9K$1.9 million0.25%-103.5K
O-I Glass, Inc. OI186.8K$1.8 million0.24%+107.4K
Loews Corp. L15.5K$1.7 million0.23%-1
Alaska Air Group, Inc. ALK33.1K$1.7 million0.23%+15.3K
Broadcom Inc. AVGO4.1K$1.5 million0.21%+154
Johnson & Johnson JNJ6.1K$1.5 million0.21%+267
Golar LNG Ltd GLNG28.8K$1.4 million0.19%no change
Vanguard Value ETF VTV6.5K$1.4 million0.19%+5.4K
Capital One Financial Corp. COF6.9K$1.4 million0.18%no change
MGM Resorts International MGM28.5K$1.4 million0.18%-3.6K
Meta Platforms, Inc. META2.4K$1.4 million0.18%+100
Teck Resources Ltd TECK21.5K$1.3 million0.17%no change
International Business Machines Corp. IBM4.3K$1.2 million0.16%+2.5K
iShares Russell 2000 ETF IWM4.0K$1.2 million0.16%-195
Vanguard Star FDS VXUS14.0K$1.2 million0.16%+6.0K
Walmart Inc. WMT10.4K$1.2 million0.16%+5
Marinemax Inc. HZO31.5K$1.2 million0.15%-403
iShares Trust OEF3.1K$1.2 million0.15%new
Axis Capital Holdings Ltd. AXS10.1K$1.1 million0.15%no change
Unilever plc UL17.6K$1.1 million0.14%+1
Northern Trust Corp. NTRS6.0K$1.0 million0.14%no change
Invesco QQQ Trust QQQ1.4K$1.0 million0.14%no change
JPMorgan Chase & Co. JPM3.2K$1.0 million0.14%no change
Coca-Cola Co. KO12.3K$1.0 million0.13%no change
General Motors Co. GM12.7K$975,2160.13%+2
American International Group, Inc. AIG12.9K$959,0520.13%-2
Deere & Co. DE1.5K$940,5700.13%-1
Costco Wholesale Corp. COST990$926,0450.12%+83
AbbVie Inc. ABBV3.6K$911,4850.12%no change
Brunswick Corp. BC10.7K$903,8950.12%no change
Applied Materials Inc. AMAT1.2K$891,4590.12%no change
Boeing Co. BA4.0K$870,4260.12%+1
Citigroup Inc. C6.2K$862,1540.12%no change
Howard Hughes Holdings Inc. HHH12.0K$857,8800.11%new
Qxo, Inc. QXO49.5K$855,8110.11%new
Intel Corp. INTC6.0K$842,2480.11%+2.4K
Cardinal Health Inc. CAH3.4K$811,9600.11%+1.2K
Invesco Exch Traded FD Trust II KBWB8.7K$811,3430.11%-2
Prologis, Inc. PLD5.9K$798,1890.11%no change
Life360, Inc. LIF14.3K$793,1980.11%no change
Honeywell International Inc. HON3.4K$771,3110.10%new
Pg&E Corp. PCG45.6K$767,8000.10%-21.4K
Honeywell Aerospace Inc. HONA3.4K$761,5970.10%new
Primo Brands Corp. PRMB30.7K$749,6970.10%no change
Immuneering Corp. IMRX150.0K$748,5000.10%new
Corning Inc. GLW2.9K$739,8210.10%+1.1K
BWX Technologies, Inc. BWXT3.8K$737,5290.10%-149
Verizon Communications Inc. VZ16.7K$709,0160.09%+1.4K
ExxonMobil Holdings Corp. XOM5.2K$707,7990.09%-10
iShares Trust EFA6.6K$690,5940.09%no change
NextEra Energy Inc. NEE7.8K$685,4840.09%no change
BP plc BP18.4K$680,9490.09%+3
Bank of America Corp. BAC11.9K$679,7140.09%no change
Visa Inc. V1.9K$656,3310.09%-383
News Corp. NWSA26.4K$654,5440.09%no change
Eli Lilly & Co. LLY544$652,4900.09%+1
Becton Dickinson & Co. BDX4.3K$647,2380.09%-418
Tesla, Inc. TSLA1.5K$641,4150.09%+642
Butterfly Network Inc. BFLY75.0K$631,5000.08%no change
Progressive Corp. PGR2.9K$630,8840.08%no change
Micron Technology Inc. MU542$626,0580.08%new
Smurfit Westrock plc SW12.1K$557,9420.07%new
Fermi Inc. Com FRMI60.0K$549,6000.07%no change
Wisdomtree Trust DGRW5.7K$549,3150.07%new
Marsh & McLennan Companies, Inc. MRSH3.3K$542,0110.07%no change
Vanguard World FD VGT4.5K$532,8060.07%new
Lam Research Corp. LRCX1.2K$532,0150.07%+197
Dimensional ETF Trust DFIV9.7K$522,3740.07%new
Advanced Micro Devices Inc. AMD846$491,4500.07%new
Waters Corp. WAT1.3K$490,5520.07%-62
Taiwan Semiconductor Manufacturing Company Limited TSM1.0K$485,4760.07%+49
Roundhill ETF Trust DRAM6.5K$478,7700.06%new
Digital Realty Trust, Inc. DLR2.7K$476,9640.06%+820
Cannae Holdings, Inc. CNNE33.0K$475,2000.06%+9.0K
Hewlett Packard Enterprise Co. HPE10.4K$470,2640.06%+1.0K
Aura Biosciences Inc. AURA62.4K$442,8200.06%no change
Berkshire Hathaway Inc. Class B BRKB867$433,8380.06%-335
ServiceNow, Inc. NOW4.3K$428,9890.06%-5.9K
Crown Holdings, Inc. CCK3.8K$425,6990.06%no change
S&P Global Inc. SPGI1.0K$421,5140.06%-47
Timken Co. TKR2.9K$417,0680.06%new
McDonald's Corp. MCD1.5K$413,5500.06%no change
Take-Two Interactive Software, Inc. TTWO1.6K$401,4680.05%no change
Reddit, Inc. RDDT2.3K$398,5400.05%-128
Cal-Maine Foods Inc. CALM4.9K$391,5220.05%new
People Inc. PPLI8.4K$389,8210.05%no change
Vanguard Growth ETF VUG4.5K$384,7010.05%new
Aramark ARMK6.7K$378,4420.05%no change
iShares S&P 500 Value ETF IVE1.7K$378,1980.05%+115
Constellation Brands, Inc. STZ2.7K$374,1520.05%no change
GE Vernova Inc. GEV318$373,7000.05%+112
Dick's Sporting Goods, Inc. DKS1.6K$360,6280.05%+700
Interactive Brokers Group, Inc. IBKR4.1K$359,3010.05%no change
Snap-on Inc. SNA890$358,1360.05%new
Regal Rexnord Corp. RRX1.5K$355,4250.05%no change
CareTrust REIT, Inc. CTRE8.7K$354,8450.05%new
Ars Pharmaceuticals Inc. SPRY43.4K$347,4980.05%+8.3K
Old Republic International Corp. ORI8.4K$344,8740.05%new
RPM International Inc. RPM3.1K$341,2300.05%new
Palo Alto Networks Inc. PANW997$339,9970.05%new
Invesco Exchange Traded FD T PRF6.3K$339,6340.05%new
Cisco Systems, Inc. CSCO2.9K$337,3450.05%new
Howmet Aerospace Inc. HWM1.2K$333,1180.04%-276
Garmin Ltd. GRMN1.4K$333,0310.04%new
Ameren Corp. AEE2.9K$332,6770.04%no change
Xpo, Inc. XPO1.6K$327,6430.04%no change
ConocoPhillips COP3.1K$326,2260.04%no change
iShares Trust ISHG4.4K$325,1470.04%-1.4K
Essex Property Trust, Inc. ESS1.1K$323,3040.04%new
AES Corp. AES21.9K$321,2740.04%+10.2K
Omnicom Group Inc. OMC4.3K$318,3760.04%new
Nucor Corp. NUE1.4K$318,2170.04%+497
Suburban Propane Partners LP SPH18.1K$309,7490.04%no change
Keycorp KEY13.4K$308,0170.04%new
Republic Services, Inc. RSG1.4K$304,0650.04%+1
BGC Group, Inc. BGC28.4K$303,3610.04%no change
UGI Corp. UGI8.5K$298,3490.04%new
Hilton Worldwide Holdings Inc. HLT902$298,0750.04%-13
Dimensional ETF Trust DFAI7.2K$297,9080.04%new
Special (opportunities Fund Inc. Com STK USD0.001) SPE22.1K$297,8750.04%new
Sprott Physical Silver Trust PSLV15.7K$296,6930.04%-1.0K
Alliant Energy Corp. LNT3.9K$293,7160.04%new
Williams Companies, Inc. WMB3.9K$290,5210.04%new
National Fuel Gas Co. NFG3.7K$290,0630.04%new
Black Hills Corp. BKH3.9K$288,6720.04%new
UnitedHealth Group Inc. UNH694$288,4470.04%no change
International Paper Co. IP7.6K$288,3790.04%new
Invesco Ltd. IVZ10.8K$284,9590.04%new
Targa Resources Corp. TRGP1.1K$284,4970.04%no change
Apple Hospitality REIT, Inc. APLE16.7K$282,4010.04%+6.4K
Teradyne, Inc. TER583$281,8460.04%new
Atlanta Braves Holdings, Inc. BATRA5.0K$281,5500.04%no change
American Centy ETF Trust AVUV2.2K$280,5040.04%new
M&T Bank Corp. MTB1.1K$270,3790.04%new
Kennametal Inc. KMT7.5K$264,2770.04%new
Best Buy Co., Inc. BBY3.4K$263,5610.04%new
MSG Knickerbockers Corp. MSGS648$260,3920.03%no change
Virtus Dividend Interest & P NFJ17.0K$258,5940.03%new
Live Nation Entertainment, Inc. LYV1.4K$256,9030.03%-192
Genuine Parts Co. GPC2.1K$251,5240.03%new
Terex Corp. TEX3.4K$248,2980.03%new
Essent Group Ltd. ESNT3.8K$246,8350.03%new
Vaneck ETF Trust GDXJ2.5K$246,5090.03%no change
Mgic Investment Corp. MTG8.7K$245,6220.03%new
MSCI Inc. MSCI432$241,9370.03%no change
General Electric Co. GE643$240,2790.03%new
Home Depot, Inc. HD681$240,1850.03%new
CNX Resources Corp. CNX7.1K$240,1230.03%no change
Fortinet, Inc. FTNT1.6K$239,0330.03%-1.1K
Topbuild Corp. BLD672$238,2440.03%new
iShares Bitcoin Trust ETF IBIT7.1K$237,7570.03%no change
Medline Inc. MDLN6.0K$236,7190.03%new
Spotify Technology S.A. SPOT515$236,4520.03%-21
iShares Trust FXI7.5K$236,1350.03%-625
JBS N.V. JBS19.8K$234,6300.03%-10.2K
iShares Trust INDA4.7K$234,1090.03%no change
Capital Southwest Corp. CSWC9.8K$233,4210.03%new
SL Green Realty Corp. SLG4.5K$233,0700.03%-11.1K
Dimensional ETF Trust DFAC5.2K$232,8900.03%no change
Agnc Invt Corp. AGNC21.1K$232,0810.03%+9.9K
Edwards Lifesciences Corp. EW2.5K$230,4020.03%new
Northrop Grumman Corp. NOC452$230,2080.03%no change
Trane Technologies plc TT467$229,3720.03%no change
SM Energy Co. SM8.8K$228,7660.03%new
Schwab Strategic Trust SCHD7.2K$228,6930.03%new
iShares Trust IEF2.4K$228,1770.03%new
Enbridge Inc. ENB4.2K$227,6820.03%new
FedEx Corp. FDX715$224,7600.03%new
Cencora, Inc. COR781$221,0070.03%new
Intercontinental Exchange, Inc. ICE1.8K$220,8590.03%-383
Microchip Technology Inc. MCHP2.4K$214,8670.03%new
Baker Hughes Co. BKR3.8K$210,6780.03%+1
United STS Commodity Index F CPER5.6K$210,5330.03%no change
Qualcomm Inc. QCOM1.1K$210,1060.03%new
Hallador Energy Co. HNRG11.8K$204,8020.03%no change
iShares Core S&P 500 ETF IVV272$203,5590.03%new
Horizon Technology Fin Corp. HRZN42.2K$203,2350.03%new
Helmerich & Payne, Inc. HP6.2K$202,9880.03%new
Acacia Resh Corp. ACTG30.0K$139,8000.02%no change
Ridgepost Capital, Inc. RPC13.7K$107,6810.01%+64
Saba Capital Management LP BRW15.5K$102,0920.01%new
GDL FD GDL10.1K$85,8100.01%new
Every US-listed position in the fund's 13F for the quarter ended 30 June 2026, by the value it reported.
Read moreChange is shares against its 13F for the quarter before; the 10 it sold out of are in the box above.