Returns–Not enough quarters yet
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| VTVanguard Intl Equity Index F | $182.1M | 24.4% | +80.4% |
| VOOVanguard Index Fds | $173.9M | 23.3% | +2.7% |
| AGGIshares Tr | $64.5M | 8.6% | |
| VEAVanguard Tax-managed Fds | $48.1M | 6.4% | +1.0% |
| VGITVanguard Scottsdale Fds | $35.4M | 4.7% | |
| MSFTMicrosoft Corp | $27.2M | 3.6% | |
| VWOVanguard Intl Equity Index F | $17.4M | 2.3% | |
| USFRWisdomtree Tr | $14.0M | 1.9% | +1.4% |
| VTIVanguard Index Fds | $9.4M | 1.3% | +17.4% |
| ACWIIshares Tr | $8.6M | 1.2% | |
| SPTLSpdr Series Trust | $7.3M | 1.0% | −1.4% |
| CATCaterpillar Inc | $5.8M | 0.8% | −2.7% |
| NVDANvidia Corporation | $4.6M | 0.6% | |
| IWFIshares Tr | $4.4M | 0.6% | −75.0% |
| AAPLApple Inc | $4.2M | 0.6% | |
| AURAurora Innovation Inc | $4.1M | 0.6% | −55.0% |
| AMZNAmazon Com Inc | $4.0M | 0.5% | |
| EQTYValued Advisers Tr | $3.9M | 0.5% | New |
| GOOGLAlphabet Inc | $3.6M | 0.5% | −1.2% |
| Ubs Group AgCUSIP H42097107 | $3.2M | 0.4% | |
| SPYState Str Spdr S&p 500 Etf T | $3.1M | 0.4% | |
| BNYBank Of Ny Mellon Corp | $3.0M | 0.4% | |
| GLDSpdr Gold Tr | $3.0M | 0.4% | |
| EXEExpand Energy Corporation | $2.4M | 0.3% | +18.9% |
| KMBKimberly-clark Corp | $2.3M | 0.3% | −15.5% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| CATCaterpillar Inc | September 30, 2025 | +123.2% | $5.8M |
| GOOGLAlphabet Inc | September 30, 2025 | +47.0% | $3.6M |
| GOOGAlphabet Inc | September 30, 2025 | +45.1% | $2.1M |
| MGMMgm Resorts International | September 30, 2025 | +37.9% | $1.4M |
| JNJJohnson & Johnson | September 30, 2025 | +37.0% | $1.5M |
| BNYBank Of Ny Mellon Corp | September 30, 2025 | +32.7% | $3.0M |
| AURAurora Innovation Inc | September 30, 2025 | +26.5% | $4.1M |
| Golar Lng LtdCUSIP G9456A100 | September 30, 2025 | +23.3% | $1.4M |
| Ubs Group AgCUSIP H42097107 | September 30, 2025 | +20.9% | $3.2M |
| VEAVanguard Tax-managed Fds | September 30, 2025 | +18.9% | $48.1M |
Sold off last quarter
- VBVanguard Index Fds was $4.0M
- FDVVFidelity Covington Trust was $419K
- MTNVail Resorts Inc was $364K
- FBNDFidelity Merrimack Str Tr was $362K
- Crh PLCCUSIP G25508105 was $327K
- ISRGIntuitive Surgical Inc was $293K
- QUALIshares Tr was $284K
- BNBrookfield Corp was $263K
- TMOThermo Fisher Scientific Inc was $245K
- GBDCGolub Cap Bdc Inc was $161K
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +10.4% | +14.8% |
| March 31, 2026 | −3.4% | −4.6% |
| December 31, 2025 | +0.7% | +2.4% |
| June 30, 2025 | +6.8% | +10.5% |
| March 31, 2025 | −1.7% | −4.6% |
| September 30, 2024 | +7.1% | +5.4% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Permanent Capital Management, LP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2054108&type=13F-HR&dateb=&owner=include&count=40CIK 2054108
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/2054108/000195175726001242/Filed August 12, 2026 · accession 0001951757-26-001242