Permanent Capital Management, LP
Filing Date
Global Rank
#5,146
/ 8,605
▼ 207
· as of Mar 2026
Top Industry
Software - Infrastructure
22.0%
3Y Alpha vs SPY
-9.8%
Period ended 3 months ago
Filed May 14, 2026 · 56d
6 quarters · since Jun 2024
Clone Performance
Aug 2024–Jul 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+18.7%
SPY
+40.4%
Annualised alpha
-10.1%
Max drawdown
−20.9%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
126 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
20.6%
−2.2 pts
Top 5
33.8%
−0.6 pts
Top 10
45.4%
+0.1 pts
HHI
540
Diversified−87
Portfolio Trend
6 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 30.4% | $39,703,435 |
| Financial Services | 13.6% | $17,785,295 |
| Consumer Cyclical | 12.2% | $15,881,336 |
| Industrials | 8.7% | $11,342,030 |
| Consumer Defensive | 6.1% | $7,993,690 |
| Communication Services | 5.8% | $7,594,981 |
| Unclassified | 5.6% | $7,327,269 |
| Energy | 5.3% | $6,947,573 |
| Healthcare | 5.2% | $6,817,369 |
| Utilities | 4.0% | $5,267,352 |
| Real Estate | 1.7% | $2,268,548 |
| Basic Materials | 1.2% | $1,561,550 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| KMB | Kimberly Clark Corp | +16,093 | 24,280 | $2,342,291 | |
| MGM | MGM Resorts International | +10,777 | 32,065 | $1,186,725 | |
| NOW | ServiceNow, Inc. | +8,425 | 10,180 | $1,064,319 | |
| SPH | Suburban Propane Partners LP | +5,500 | 18,114 | $356,664 | |
| ALK | Alaska Air Group, Inc. | +5,441 | 17,835 | $655,971 | |
| AMZN | Amazon Com Inc | +2,730 | 16,672 | $3,472,277 | |
| SLG | Sl Green Realty Corp | +2,004 | 15,632 | $577,446 | |
| CNNE | Cannae Holdings, Inc. | +2,000 | 24,000 | $272,880 | |
| BC | Brunswick Corp | +1,500 | 10,730 | $780,714 | |
| GBDC | GOLUB CAPITAL BDC, Inc. | +1,428 | 11,728 | $148,476 | |
| IBIT | iShares Bitcoin Trust ETF | +1,375 | 7,142 | $274,395 | |
| CAH | Cardinal Health Inc | +1,108 | 2,173 | $459,176 | |
| BRK-B | Berkshire Hathaway Inc | +779 | 1,202 | $575,998 | |
| MSFT | Microsoft Corp | +478 | 72,667 | $26,899,143 | |
| RSG | Republic Services, Inc. | +470 | 1,426 | $312,322 | |
| AVGO | Broadcom Inc. | +425 | 3,918 | $1,212,660 | |
| AAPL | Apple Inc. | +391 | 14,471 | $3,672,595 | |
| AGNC | AGNC Investment Corp. | +380 | 11,180 | $112,135 | |
| DLR | Digital Realty Trust, Inc. | +366 | 1,836 | $330,865 | |
| BAC | Bank Of America Corp /De/ | +284 | 11,929 | $581,538 | |
| NVDA | Nvidia Corp | +245 | 23,034 | $4,017,129 | |
| GOOGL | Alphabet Inc. | +217 | 10,148 | $2,918,158 | |
| KO | Coca Cola Co | +194 | 12,263 | $932,601 | |
| VZ | Verizon Communications Inc | +159 | 15,323 | $769,214 | |
| META | Meta Platforms, Inc. | +141 | 2,310 | $1,321,620 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| ACTG | Acacia Research Corp | −375,345 | 30,000 | $144,300 | |
| OI | O-I Glass, Inc. /DE/ | −62,133 | 79,413 | $834,630 | |
| JBS | Jbs N.V. | −51,797 | 30,000 | $538,800 | |
| PPLI | People Inc | −33,877 | 8,445 | $338,053 | |
| PCG | PG&E Corp | −33,007 | 67,022 | $1,177,576 | |
| GLNG | Golar Lng Ltd | −30,387 | 28,796 | $1,558,151 | |
| CDZI | Cadiz Inc | −22,500 | 474,019 | $2,327,433 | |
| SPRY | ARS Pharmaceuticals, Inc. | −17,191 | 35,115 | $281,973 | |
| AURA | Aura Biosciences, Inc. | −13,495 | 62,369 | $417,248 | |
| TECK | Teck Resources Ltd | −10,744 | 21,526 | $1,113,970 | |
| HZO | Marinemax Inc | −10,425 | 31,877 | $862,591 | |
| BP | Bp PLC | −9,567 | 18,426 | $866,022 | |
| COF | Capital One Financial Corp | −6,860 | 6,859 | $1,251,287 | |
| PSLV | Sprott Physical Silver Trust | −5,197 | 16,723 | $407,873 | |
| C | Citigroup Inc | −3,988 | 6,160 | $698,605 | |
| BA | Boeing Co | −3,132 | 4,020 | $800,100 | |
| XOM | Exxon Mobil Corp | −3,076 | 5,187 | $880,026 | |
| UBS | UBS Group AG | −2,993 | 64,477 | $2,519,116 | |
| UNP | Union Pacific Corp | −2,698 | 7,913 | $1,919,852 | |
| GM | General Motors Co | −2,441 | 12,650 | $942,425 | |
| AXS | Axis Capital Holdings Ltd | −2,302 | 10,053 | $1,019,474 | |
| PGR | Progressive Corp/Oh/ | −1,849 | 2,888 | $572,517 | |
| GLD | Spdr Gold Trust | −1,646 | 8,157 | $3,509,875 | |
| BN | BROOKFIELD Corp /ON/ | −1,554 | 5,823 | $235,656 | |
| EXE | EXPAND ENERGY Corp | −1,449 | 22,396 | $2,458,632 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
23 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| PLD | Prologis, Inc. | 5,892 | $778,804 | |
| DGX | Quest Diagnostics Inc | 3,946 | $773,337 | |
| PRMB | Primo Brands Corp | 30,675 | $577,610 | |
| LLY | ELI LILLY & Co | 543 | $499,435 | |
| WAT | Waters Corp /De/ | 1,370 | $407,986 | |
| STZ | Constellation Brands, Inc. | 2,690 | $403,500 | |
| MTN | Vail Resorts Inc | 2,862 | $367,251 | |
| FRMI | Fermi Inc. | 60,000 | $350,400 | |
| XPO | XPO, Inc. | 1,596 | $310,501 | |
| BFLY | Butterfly Network, Inc. | 75,000 | $303,000 | |
| RRX | Regal Rexnord Corp | 1,490 | $279,017 | |
| IBKR | Interactive Brokers Group, Inc. | 4,128 | $276,864 | |
| TRGP | Targa Resources Corp. | 1,061 | $266,024 | |
| LYV | Live Nation Entertainment, Inc. | 1,595 | $243,253 | |
| BKR | Baker Hughes Co | 3,795 | $231,684 | |
| HPE | Hewlett Packard Enterprise Co | 9,392 | $223,623 | |
| LRCX | Lam Research Corp | 1,030 | $220,069 | |
| MSGS | Madison Square Garden Sports Corp. | 648 | $208,267 | |
| TT | Trane Technologies plc | 467 | $194,617 | |
| GEV | GE Vernova Inc. | 206 | $179,817 | |
| DKS | Dick's Sporting Goods, Inc. | 890 | $176,478 | |
| INTC | Intel Corp | 3,634 | $160,368 | |
| APLE | Apple Hospitality REIT, Inc. | 10,330 | $118,898 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
24 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| ALIT | Alight, Inc. / Delaware | 110,000 | $4,290,000 | |
| SEM | Select Medical Holdings Corp | 45,000 | $668,250 | |
| MYFW | First Western Financial Inc | 21,000 | $563,010 | |
| HUT | Hut 8 Corp. | 12,000 | $551,280 | |
| OWL | Blue Owl Capital Inc. | 35,518 | $530,638 | |
| BSX | Boston Scientific Corp | 4,608 | $439,372 | |
| APO | Apollo Global Management, Inc. | 2,654 | $384,193 | |
| B | Barrick Mining Corp | 8,025 | $349,488 | |
| TRU | TransUnion | 3,946 | $338,369 | |
| MCK | Mckesson Corp | 397 | $325,655 | |
| COR | Cencora, Inc. | 818 | $276,279 | |
| DHR | Danaher Corp /De/ | 1,149 | $263,029 | |
| IT | Gartner Inc | 955 | $240,927 | |
| SHW | Sherwin Williams Co | 691 | $223,904 | |
| DEO | Diageo PLC | 2,436 | $210,153 | |
| MHD | Blackrock Muniholdings Fund, Inc. | 12,038 | $141,326 | |
| MMU | Western Asset Managed Municipals Fund Inc. | 13,513 | $141,075 | |
| MUC | Blackrock Muniholdings California Quality Fund, Inc. | 13,206 | $139,983 | |
| MUJ | Blackrock Muniholdings New Jersey Quality Fund, Inc. | 11,741 | $139,717 | |
| NRK | Nuveen New York Amt-Free Quality Municipal Income Fund | 13,836 | $139,605 | |
| MYI | Blackrock Muniyield Quality Fund III, Inc. | 12,842 | $139,592 | |
| MQY | Blackrock Muniyield Quality Fund, Inc. | 12,343 | $139,475 | |
| TBLA | Taboola.com Ltd. | 30,000 | $138,300 | |
| PML | Pimco Municipal Income Fund II | 18,185 | $137,114 | |
| No positions match the current search. | ||||
126 positions ·
$130,490,428 total
· as of Mar 31, 2026
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
Showing 1–50
of 126 positions by value
· page 1 of 3
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| MSFT |
Microsoft Corp
Technology
|
Added | 72,667 | $26,899,143 | 20.61% | |
| AUR |
Aurora Innovation, Inc.
Consumer Cyclical
|
Held | 1,340,223 | $5,521,718 | 4.23% | |
| NVDA |
Nvidia Corp
Technology
|
Added | 23,034 | $4,017,129 | 3.08% | |
| CAT |
Caterpillar Inc
Industrials
|
Added | 5,617 | $3,979,419 | 3.05% | |
| AAPL |
Apple Inc.
Technology
|
Added | 14,471 | $3,672,595 | 2.81% | |
| GLD |
Spdr Gold Trust
|
Reduced | 8,157 | $3,509,875 | 2.69% | |
| AMZN |
Amazon Com Inc
Consumer Cyclical
|
Added | 16,672 | $3,472,277 | 2.66% | |
| GOOGL |
Alphabet Inc.
Communication Services
|
Added | 10,148 | $2,918,158 | 2.24% | |
| SPY |
Spdr S&P 500 ETF Trust
|
Held | 4,185 | $2,721,672 | 2.09% | |
| UBS |
UBS Group AG
Financial Services
|
Reduced | 64,477 | $2,519,116 | 1.93% | |
| BNY |
Bank of New York Mellon Corp
Financial Services
|
Added | 20,794 | $2,466,792 | 1.89% | |
| EXE |
EXPAND ENERGY Corp
Energy
|
Reduced | 22,396 | $2,458,632 | 1.88% | |
| KMB |
Kimberly Clark Corp
Consumer Defensive
|
Added | 24,280 | $2,342,291 | 1.79% | |
| CDZI |
Cadiz Inc
Utilities
|
Reduced | 474,019 | $2,327,433 | 1.78% | |
| UNP |
Union Pacific Corp
Industrials
|
Reduced | 7,913 | $1,919,852 | 1.47% | |
| L |
Loews Corp
Financial Services
|
Held | 15,455 | $1,649,666 | 1.26% | |
| GLNG |
Golar Lng Ltd
Energy
|
Reduced | 28,796 | $1,558,151 | 1.19% | |
| JNJ |
Johnson & Johnson
Healthcare
|
Added | 5,788 | $1,414,818 | 1.08% | |
| META |
Meta Platforms, Inc.
Communication Services
|
Added | 2,310 | $1,321,620 | 1.01% | |
| WMT |
Walmart Inc.
Consumer Defensive
|
Reduced | 10,378 | $1,289,777 | 0.99% | |
| COF |
Capital One Financial Corp
Financial Services
|
Reduced | 6,859 | $1,251,287 | 0.96% | |
| AVGO |
Broadcom Inc.
Technology
|
Added | 3,918 | $1,212,660 | 0.93% | |
| MGM |
MGM Resorts International
Consumer Cyclical
|
Added | 32,065 | $1,186,725 | 0.91% | |
| PCG |
PG&E Corp
Utilities
|
Reduced | 67,022 | $1,177,576 | 0.90% | |
| TECK |
Teck Resources Ltd
Basic Materials
|
Reduced | 21,526 | $1,113,970 | 0.85% | |
| NOW |
ServiceNow, Inc.
Technology
|
Added | 10,180 | $1,064,319 | 0.82% | |
| AXS |
Axis Capital Holdings Ltd
Financial Services
|
Reduced | 10,053 | $1,019,474 | 0.78% | |
| UL |
Unilever PLC
Consumer Defensive
|
Added | 17,647 | $1,005,349 | 0.77% | |
| AIG |
American International Group, Inc.
Financial Services
|
Added | 12,870 | $968,467 | 0.74% | |
| GM |
General Motors Co
Consumer Cyclical
|
Reduced | 12,650 | $942,425 | 0.72% | |
| KO |
Coca Cola Co
Consumer Defensive
|
Added | 12,263 | $932,601 | 0.71% | |
| JPM |
Jpmorgan Chase & Co
Financial Services
|
Reduced | 3,158 | $928,957 | 0.71% | |
| COST |
Costco Wholesale Corp /New
Consumer Defensive
|
Added | 907 | $903,762 | 0.69% | |
| XOM |
Exxon Mobil Corp
Energy
|
Reduced | 5,187 | $880,026 | 0.67% | |
| BP |
Bp PLC
Energy
|
Reduced | 18,426 | $866,022 | 0.66% | |
| HZO |
Marinemax Inc
Consumer Cyclical
|
Reduced | 31,877 | $862,591 | 0.66% | |
| NTRS |
Northern Trust Corp
Financial Services
|
Added | 6,011 | $838,955 | 0.64% | |
| OI |
O-I Glass, Inc. /DE/
Consumer Cyclical
|
Reduced | 79,413 | $834,630 | 0.64% | |
| DE |
Deere & Co
Industrials
|
Added | 1,480 | $833,684 | 0.64% | |
| QQQ |
Invesco Qqq Trust, Series 1
|
Reduced | 1,423 | $821,327 | 0.63% | |
| BWXT |
BWX Technologies, Inc.
Industrials
|
Reduced | 3,938 | $805,281 | 0.62% | |
| BA |
Boeing Co
Industrials
|
Reduced | 4,020 | $800,100 | 0.61% | |
| ABBV |
AbbVie Inc.
Healthcare
|
Added | 3,622 | $787,748 | 0.60% | |
| BC |
Brunswick Corp
Consumer Cyclical
|
Added | 10,730 | $780,714 | 0.60% | |
| PLD |
Prologis, Inc.
Real Estate
|
NEW | 5,892 | $778,804 | 0.60% | |
| DGX |
Quest Diagnostics Inc
Healthcare
|
NEW | 3,946 | $773,337 | 0.59% | |
| VZ |
Verizon Communications Inc
Communication Services
|
Added | 15,323 | $769,214 | 0.59% | |
| BDX |
Becton Dickinson & Co
Healthcare
|
Added | 4,695 | $738,194 | 0.57% | |
| NEE |
Nextera Energy Inc
Utilities
|
Added | 7,810 | $725,392 | 0.56% | |
| C |
Citigroup Inc
Financial Services
|
Reduced | 6,160 | $698,605 | 0.54% |