Skip to main content
Equibles

Permanent Capital Management, LP

Registered adviser
Location
CHICAGO, IL
Portfolio Value
Small $746,154,675
Diversification
Moderately concentrated
Filing Date
Global Rank
#3,035 / 8,827 ▲ 178
Top Industry
Software - Infrastructure 17.8%
Period ended 4 months ago
Filed Aug 12, 2026 · 3mo
7 quarters · since Jun 2024

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type
Registered adviser
Form ADV roster, Nov 1, 2026
Form ADV adviser
CRD 328318
Roster of Nov 1, 2026
Regulatory AUM
$768,906,969
Main clients
Corporations (68% of AUM)
Private funds
3 funds · Other private funds
Focus by fund count, roster of Nov 1, 2026
$48,462,650 gross assets
Form ADV history
Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.
Rosters Regulatory AUM Main clients
Apr 2026 to Nov 2026 $768,906,969 Corporations (68%)
Jul 2025 to Mar 2026 $742,150,141 Corporations (75%)
Apr 2025 to Jun 2025 $742,150,141 Corporations (75%)
Jun 2024 to Mar 2025 $365,101,315 Corporations (57%)
Mar 2024 to May 2024 $121,563,813 Individuals and high net worth (100%)
Nov 2023 to Feb 2024 $0 —

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style
Concentrated
The top 10 positions are 81.9% of the book (60%+)
Turnover
Turnover unknown
It needs four straight quarters of measured turnover
Horizon
Medium horizon
Value-weighted holding period 6.8 quarters (4 to under 12)

Closest benchmark: every 13F filer's combined book, active share 79.1%; sector active share 66.1% against the combined 13F book's sector weights.

Over time 7 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

210 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026
Top Position
26.7%
+0.3 pts
Top 5
73.8%
+3.5 pts
Top 10
81.9%
−1.0 pts
HHI
1,540
Jun 2024 → Jun 2026 · range 1,079 – 1,540
Moderately concentrated+226

Portfolio Trend

7 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026
Sector % Portfolio Value
Unclassified 79.0% $589,518,149
Technology 6.3% $47,057,431
Financial Services 3.1% $22,891,433
Industrials 2.9% $21,543,543
Consumer Cyclical 2.5% $18,485,540
Communication Services 1.5% $10,941,480
Healthcare 1.4% $10,467,512
Consumer Defensive 1.1% $8,162,403
Energy 1.0% $7,552,258
Real Estate 0.5% $4,098,223
Utilities 0.5% $3,498,120
Basic Materials 0.3% $1,938,583

Last Quarter's Activity

Export CSV
Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased
25 positions
Ticker Δ Shares Shares Value Open
VT +517,052 1,160,445 $182,131,842
OI +107,365 186,778 $1,798,672
CDZI +63,661 537,680 $2,247,502
IWF +26,339 35,109 $4,359,484
ALK +15,264 33,099 $1,727,767
AES +10,200 21,915 $321,273
AGNC +9,880 21,060 $229,554
CNNE +9,000 33,000 $475,200
SPRY +8,268 43,383 $347,497
DGX +6,760 10,706 $2,269,136
VEA +6,725 675,379 $48,120,753
VOO +6,611 253,227 $173,918,835
APLE +6,390 16,720 $281,063
VXUS +5,974 13,986 $1,195,663
VTV +5,355 6,480 $1,412,186
VGIT +5,046 600,884 $35,440,138
EXE +4,239 26,635 $2,428,845
AGG +4,128 651,553 $64,490,715
USFR +3,925 278,781 $14,036,623
VTI +3,766 25,411 $9,403,086
IBM +2,459 4,298 $1,208,640
INTC +2,398 6,032 $842,248
VZ +1,423 16,746 $709,025
CAH +1,245 3,418 $811,980
GLW +1,135 2,896 $739,725

Trimmed

Positions the filer reduced
25 positions
Ticker Δ Shares Shares Value Open
AUR −737,023 603,200 $4,113,824
RSP −103,533 8,945 $1,903,227
PCG −21,445 45,577 $766,605
SLG −11,130 4,502 $233,068
JBS −10,200 19,800 $234,630
NOW −5,859 4,321 $428,988
SPTL −3,909 278,085 $7,294,169
KMB −3,758 20,522 $2,252,699
MGM −3,602 28,463 $1,360,816
ISHG −1,370 4,379 $325,140
FTNT −1,082 1,556 $239,032
PSLV −1,000 15,723 $296,693
FXI −625 7,475 $236,135
BDX −418 4,277 $647,238
HZO −403 31,474 $1,152,577
V −383 1,913 $656,331
ICE −383 1,794 $220,859
BRK-B −335 867 $433,838
HWM −276 1,239 $333,117
IWM −195 4,007 $1,203,903
LYV −192 1,403 $256,903
CAT −152 5,465 $5,819,678
BWXT −149 3,789 $737,528
RDDT −128 2,296 $398,539
GOOGL −125 10,023 $3,581,919

New Positions

Positions the filer opened this quarter
25 positions
Ticker Shares Value Open
EQTY 138,184 $3,862,380
OEF 3,149 $1,152,124
HHH 12,000 $857,880
QXO 49,526 $855,809
HON 3,445 $771,335
HONA 3,445 $761,620
IMRX 150,000 $748,500
MU 542 $625,625
SW 12,061 $557,941
DGRW 5,745 $549,336
VGT 4,458 $532,820
DFIV 9,670 $522,373
AMD 846 $491,449
TKR 2,870 $417,068
CALM 4,860 $391,521
VUG 4,466 $384,701
SNA 890 $358,136
CTRE 8,710 $351,448
ORI 8,428 $344,873
RPM 3,070 $341,230
PANW 997 $339,996
PRF 6,286 $339,632
CSCO 2,872 $337,345
GRMN 1,402 $333,031
ESS 1,099 $320,457

Sold Out

Positions the filer fully exited
10 positions
Ticker Shares Value Open
VB 13,892 $3,638,592
FDVV 7,097 $392,038
MTN 2,862 $367,251
FBND 7,942 $362,314
ISRG 641 $295,494
CRH 2,765 $290,656
QUAL 1,369 $262,587
TMO 511 $251,171
BN 5,823 $235,656
GBDC 11,728 $148,476

Portfolio Positions

Export CSV View 13F filing
210 tracked positions · $746,154,675 total · filing declares 211 positions · $746,719,888 · as of Jun 30, 2026
All sectors Basic Materials Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology Utilities
Showing 1–50 of 210 positions by value · page 1 of 5
Ticker Company Shares Value (USD) % of Portfolio History
VT
VANGUARD TOTAL WORLD STOCK INDEX FUND
1,160,445 $182,131,842 24.41%
VOO
VANGUARD 500 INDEX FUND
253,227 $173,918,835 23.31%
AGG
iShares Core U.S. Aggregate Bond ETF
651,553 $64,490,715 8.64%
VEA
Vanguard FTSE Developed Markets ETF
675,379 $48,120,753 6.45%
VGIT
VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND
600,884 $35,440,138 4.75%
MSFT
Microsoft Corp
Technology 		73,008 $27,233,444 3.65%
VWO
VANGUARD EMERGING MARKETS STOCK INDEX FUND
292,236 $17,443,566 2.34%
USFR
WisdomTree Floating Rate Treasury Fund
278,781 $14,036,623 1.88%
VTI
VANGUARD TOTAL STOCK MARKET INDEX FUND
25,411 $9,403,086 1.26%
ACWI
iShares MSCI ACWI ETF
54,862 $8,611,688 1.15%
SPTL
State Street(R) SPDR(R) Portfolio Long Term Treasury ETF
278,085 $7,294,169 0.98%
CAT
Caterpillar Inc
Industrials 		5,465 $5,819,678 0.78%
NVDA
Nvidia Corp
Technology 		23,070 $4,616,076 0.62%
IWF
iShares Russell 1000 Growth ETF
35,109 $4,359,484 0.58%
AAPL
Apple Inc.
Technology 		14,538 $4,206,715 0.56%
AUR
Aurora Innovation, Inc.
Consumer Cyclical 		603,200 $4,113,824 0.55%
AMZN
Amazon Com Inc
Consumer Cyclical 		16,652 $3,968,837 0.53%
EQTY
Valued Advisers Trust
138,184 $3,862,380 0.52%
GOOGL
Alphabet Inc.
Communication Services 		10,023 $3,581,919 0.48%
UBS
UBS Group AG
Financial Services 		64,477 $3,195,480 0.43%
SPY
Spdr S&P 500 ETF Trust
4,185 $3,125,232 0.42%
BNY
Bank of New York Mellon Corp
Financial Services 		20,794 $3,007,020 0.40%
GLD
Spdr Gold Trust
8,157 $3,004,875 0.40%
EXE
EXPAND ENERGY Corp
Energy 		26,635 $2,428,845 0.33%
DGX
Quest Diagnostics Inc
Healthcare 		10,706 $2,269,136 0.30%
KMB
Kimberly Clark Corp
Consumer Defensive 		20,522 $2,252,699 0.30%
CDZI
Cadiz Inc
Industrials 		537,680 $2,247,502 0.30%
UNP
Union Pacific Corp
Industrials 		7,913 $2,152,336 0.29%
GOOG
Alphabet Inc.
Communication Services 		5,939 $2,098,426 0.28%
RSP
Victory Portfolios II
8,945 $1,903,227 0.26%
OI
O-I Glass, Inc.
Consumer Cyclical 		186,778 $1,798,672 0.24%
L
Loews Corp
Financial Services 		15,454 $1,749,547 0.23%
ALK
Alaska Air Group, Inc.
Industrials 		33,099 $1,727,767 0.23%
AVGO
Broadcom Inc.
Technology 		4,072 $1,538,198 0.21%
JNJ
Johnson & Johnson
Healthcare 		6,055 $1,537,788 0.21%
GLNG
Golar Lng Ltd
Energy 		28,796 $1,435,192 0.19%
VTV
VANGUARD VALUE INDEX FUND
6,480 $1,412,186 0.19%
COF
Capital One Financial Corp
Financial Services 		6,859 $1,376,052 0.18%
MGM
MGM Resorts International
Consumer Cyclical 		28,463 $1,360,816 0.18%
META
Meta Platforms, Inc.
Communication Services 		2,410 $1,357,528 0.18%
TECK
Teck Resources Ltd
Basic Materials 		21,526 $1,279,935 0.17%
IBM
International Business Machines Corp
Technology 		4,298 $1,208,640 0.16%
IWM
iShares Russell 2000 ETF
4,007 $1,203,903 0.16%
VXUS
Vanguard Total International Stock ETF
13,986 $1,195,663 0.16%
WMT
Walmart Inc.
Consumer Defensive 		10,383 $1,175,978 0.16%
HZO
Marinemax Inc
Consumer Cyclical 		31,474 $1,152,577 0.15%
OEF
iShares S&P 100 ETF
3,149 $1,152,124 0.15%
AXS
Axis Capital Holdings Ltd
Financial Services 		10,053 $1,080,094 0.14%
UL
Unilever PLC
Consumer Defensive 		17,648 $1,060,997 0.14%
QQQ
Invesco Qqq Trust, Series 1
1,423 $1,047,897 0.14%

Showing the top 50 of 210 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.