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Permanens Capital Portfolio holdings
AUM
$972M
1-Year Est. Return
27.73%
This Fund
S&P 500
This Quarter
Est. Return
+8.94%
1 Year Est. Return
+27.73%
3 Year Est. Return
+76.92%
5 Year Est. Return
+81.54%
10 Year Est. Return
+277.71%
AUM
$671M
AUM Growth
-$62.8M
(-8.6%)
Cap. Flow
-$115M
Cap. Flow
% of AUM
-17.14%
Top 10 Holdings %
Top 10 Hldgs %
82.17%
Holding
94
New
26
Increased
17
Reduced
13
Closed
32
Avg Time Held
5.5
quarters
Top 10 Avg Time Held
12.5
quarters
Top 20 Avg Time Held
8.2
quarters
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
|
+$37.6M |
| 2 |
Lazard Japanese Equity ETF
JPY
|
+$16.6M |
| 3 |
iShares Silver Trust
SLV
|
+$11.3M |
| 4 |
Mitsubishi UFJ Financial
MUFG
|
+$5.85M |
| 5 |
UnitedHealth
UNH
|
+$4.01M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Xtrackers MSCI Europe Hedged Equity ETF
DBEU
|
+$26.7M |
| 2 |
Vanguard Morningstar Value ETF
VTV
|
+$25.5M |
| 3 |
iShares MSCI Emerging Markets ex China ETF
EMXC
|
+$25.4M |
| 4 |
JPMorgan BetaBuilders Japan ETF
BBJP
|
+$22.9M |
| 5 |
Vanguard Morningstar Growth ETF
VUG
|
+$22.1M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 87.16% |
| 2 | Financials | 4.65% |
| 3 | Energy | 2.13% |
| 4 | Technology | 1.53% |
| 5 | Consumer Discretionary | 1.11% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Vanguard Morningstar Value ETF
VTV
$188B
| $123M | 18.35% |
656,355
-140,675
| -18% | -$25.5M |
2016 Q2
37 quarters
|
|
|
2
Vanguard Morningstar Growth ETF
VUG
$237B
| $122M | 18.17% |
1,522,650
-289,272
| -16% | -$22.1M |
2013 Q4
47 quarters
|
|
3
iShares Gold Trust
IAU
$61.7B
| $64.8M | 9.66% |
890,255
-19,291
| -2% | -$1.26M |
2016 Q1
38 quarters
|
|
|
4
State Street SPDR Bloomberg 1-3 Month T-Bill ETF
BIL
$50.8B
| $40.5M | 6.04% |
441,640
+410,635
| +1,324% | +$37.6M |
2024 Q3
4 quarters
|
|
|
5
iShares Silver Trust
SLV
$28.8B
| $39.5M | 5.89% |
931,983
+313,405
| +51% | +$11.3M |
2025 Q2
1 quarter
|
|
|
6
Xtrackers MSCI Europe Hedged Equity ETF
DBEU
$774M
| $37.9M | 5.66% |
823,835
-591,137
| -42% | -$26.7M |
2024 Q4
3 quarters
|
|
7
WisdomTree Japan Hedged Equity Fund
DXJ
$2.38B
| $37.4M | 5.57% |
875,199
-534,786
| -38% | -$21.9M |
2013 Q4
47 quarters
|
|
8
iShares 0-5 Year High Yield Corporate Bond ETF
SHYG
$7.62B
| $34M | 5.08% |
786,065
-95,684
| -11% | -$4.12M |
2025 Q2
1 quarter
|
|
9
Principal Spectrum Preferred Securities Active ETF
PREF
$1.89B
| $28.1M | 4.19% |
1,468,514
-52,215
| -3% | -$991K |
2025 Q1
2 quarters
|
|
10
Eagle Capital Select Equity ETF
EAGL
$4.79B
| $23.9M | 3.56% |
764,024
+3,947
| +0.5% | +$121K |
2024 Q2
5 quarters
|
|
|
11
Lazard Japanese Equity ETF
JPY
$86.1M
| $17.4M | 2.6% |
+555,599
| New | +$16.6M |
2025 Q3
0 quarters
|
|
12
Cameco
CCJ
$37.5B
| $14M | 2.08% |
166,648
-17,656
| -10% | -$1.37M |
2022 Q2
13 quarters
|
|
13
Walmart Inc
WMT
$891B
| $6.86M | 1.02% |
66,589
+15,738
| +31% | +$1.57M |
2023 Q2
9 quarters
|
|
|
14
UnitedHealth
UNH
$339B
| $6.83M | 1.02% |
19,784
+13,247
| +203% | +$4.01M |
2024 Q3
4 quarters
|
|
15
Microsoft
MSFT
$4.04T
| $6.81M | 1.02% |
13,142
-4,510
| -26% | -$2.3M |
2019 Q4
23 quarters
|
|
16
JPMorgan Chase
JPM
$881B
| $6.66M | 0.99% |
21,121
+2,245
| +12% | +$668K |
2020 Q4
19 quarters
|
|
|
17
Mitsubishi UFJ Financial
MUFG
$252B
| $6.3M | 0.94% |
+395,273
| New | +$5.85M |
2025 Q3
0 quarters
|
|
18
UBS Group
UBS
$147B
| $6.23M | 0.93% |
151,917
+321
| +0.2% | +$12.5K |
2025 Q1
2 quarters
|
|
19
Ulta Beauty
ULTA
$24.8B
| $6.14M | 0.92% |
11,236
-1,710
| -13% | -$876K |
2023 Q4
7 quarters
|
|
20
Charles Schwab
SCHW
$166B
| $5.98M | 0.89% |
62,587
+1,246
| +2% | +$118K |
2020 Q1
22 quarters
|
|
21
iShares Bitcoin Trust
IBIT
$67B
| $3.5M | 0.52% |
+53,878
| New | +$3.5M |
2025 Q3
0 quarters
|
|
22
BRT Apartments
BRT
$251M
| $3.19M | 0.48% |
201,263
+35,415
| +21% | +$553K |
2025 Q1
2 quarters
|
|
23
State Street SPDR S&P 500 ETF Trust
SPY
$822B
| $2.88M | 0.43% |
4,318
+1,911
| +79% | +$1.23M |
2019 Q3
24 quarters
|
|
24
Netflix
NFLX
$293B
| $2.32M | 0.35% |
+19,360
| New | +$2.36M |
2025 Q3
0 quarters
|
|
25
iShares 3-7 Year Treasury Bond ETF
IEI
$16.9B
| $1.86M | 0.28% |
+15,596
| New | +$1.86M |
2025 Q3
0 quarters
|
|
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Permanens Capital's Q3 2025 Portfolio in Review
As of Q3 2025, Permanens Capital held 94 positions worth $671M, down 8.6% from $733M the previous quarter. Its ten largest holdings account for 82% of the portfolio.
Permanens Capital withdrew a net $115M in Q3 2025, closing 32 positions and reducing 13 holdings. Its most notable exit was iShares MSCI Emerging Markets ex China ETF, an estimated $25.4M position sold in full.
By sector, the portfolio is most concentrated in Miscellaneous at 87% of assets, up from 86% a quarter earlier, followed by Financials and Energy.
Against the trend, Permanens Capital opened a new position in Lazard Japanese Equity ETF worth $17.4M.
- Permanens Capital's largest Q3 2025 buy was Lazard Japanese Equity ETF: 555,599 shares worth $17.4M.
- Permanens Capital added most to State Street SPDR Bloomberg 1-3 Month T-Bill ETF in Q3 2025, an estimated $37.6M increase.
- Permanens Capital's biggest Q3 2025 reduction was Xtrackers MSCI Europe Hedged Equity ETF, cutting an estimated $26.7M.
- Permanens Capital fully exited iShares MSCI Emerging Markets ex China ETF in Q3 2025, selling an estimated $25.4M.
- Permanens Capital's ten largest holdings make up 82% of its $671M portfolio in Q3 2025.
- Permanens Capital opened 26 new positions and closed 32 in Q3 2025.
- Permanens Capital's portfolio value fell 8.6% quarter-over-quarter to $671M.
Based on Permanens Capital's 13F filing for Q3 2025, filed 14 Nov 2025.