# EDGAR Filing Document

**Accession Number:** 0001599637
**File Stem:** 0001641172-25-023975
**Filing Date:** 2025-8
**Character Count:** 10416
**Document Hash:** 3bab20b1eca8a746a4387ff9e6930db6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001641172-25-023975.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001641172-25-023975

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**EFFECTIVENESS DATE**: 20250814

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Permanens Capital L.P.
- **CENTRAL INDEX KEY:** 0001599637

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-16061
- **FILM NUMBER:** 251218729

**BUSINESS ADDRESS:**
- **STREET 1:** 410 PARK AVENUE
- **STREET 2:** SUITE 430
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022
- **BUSINESS PHONE:** 212-993-7456

**MAIL ADDRESS:**
- **STREET 1:** 410 PARK AVENUE
- **STREET 2:** SUITE 430
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10022

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Permanens Capital L.P.<br>**Address:** 410 PARK AVENUE<br>SUITE 430<br>NEW YORK, NY 10022

**Form 13F File Number:** 028-16061

**CRD Number (if applicable):** 000157476

**SEC File Number (if applicable):** 801-72416

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Michael McCaffery<br>**Title:** Chief Operating Officer/Chief Compliance Officer<br>**Phone:** 212-993-7466

**Signature, Place, and Date of Signing:**

/s/ Michael McCaffery  New York, NY  08-14-2025<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 68

**Form 13F Information Table Value Total:** $733347671

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| 2023 ETF SERIES TRUST | EAGLE CAPITAL SE | 88339Y102 |  | 22939124 | 760077 | SH |  | SOLE |  | 760077 | 0 | 0 |
| 78462F103 | TR UNIT | 78462F103 |  | 1491404 | 2407 | SH |  | SOLE |  | 2407 | 0 | 0 |
| ABRDN INCOME CREDIT STRATEGI | COM | 003057106 |  | 162250 | 27500 | SH |  | SOLE |  | 27500 | 0 | 0 |
| AERCAP HOLDINGS NV | SHS | N00985106 |  | 1803672 | 15416 | SH |  | SOLE |  | 15416 | 0 | 0 |
| ALCOA CORP | COM | 013872106 |  | 578426 | 19601 | SH |  | SOLE |  | 19601 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 1577707 | 8894 | SH |  | SOLE |  | 8894 | 0 | 0 |
| ALTI GLOBAL INC | CL A | 02157E106 |  | 322941 | 77817 | SH |  | SOLE |  | 77817 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 3103710 | 14147 | SH |  | SOLE |  | 14147 | 0 | 0 |
| AON PLC | SHS CL A | G0403H108 |  | 985728 | 2763 | SH |  | SOLE |  | 2763 | 0 | 0 |
| ARCHER AVIATION INC | *W EXP 09/16/202 | 03945R110 |  | 50010 | 15483 | SH |  | SOLE |  | 15483 | 0 | 0 |
| ARES CAPITAL CORP | COM | 04010L103 |  | 1430211 | 65128 | SH |  | SOLE |  | 65128 | 0 | 0 |
| ASML HOLDING N V | N Y REGISTRY SHS | N07059210 |  | 1283025 | 1601 | SH |  | SOLE |  | 1601 | 0 | 0 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 5304608 | 10920 | SH |  | SOLE |  | 10920 | 0 | 0 |
| BGC GROUP INC | CL A | 088929104 |  | 1739100 | 170000 | SH |  | SOLE |  | 170000 | 0 | 0 |
| BRT APARTMENTS CORP | COM | 055645303 |  | 2625141 | 165848 | SH |  | SOLE |  | 165848 | 0 | 0 |
| CAMECO CORP | COM | 13321L108 |  | 13680886 | 184304 | SH |  | SOLE |  | 184304 | 0 | 0 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 1709314 | 8034 | SH |  | SOLE |  | 8034 | 0 | 0 |
| COMCAST CORP NEW | CL A | 20030N101 |  | 1806699 | 50622 | SH |  | SOLE |  | 50622 | 0 | 0 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 2103326 | 23438 | SH |  | SOLE |  | 23438 | 0 | 0 |
| DANAHER CORPORATION | COM | 235851102 |  | 734889 | 3715 | SH |  | SOLE |  | 3715 | 0 | 0 |
| DBX ETF TR | XTRACK MSCI EURP | 233051853 |  | 62371966 | 1414972 | SH |  | SOLE |  | 1414972 | 0 | 0 |
| ELEVANCE HEALTH INC | COM | 036752103 |  | 705573 | 1814 | SH |  | SOLE |  | 1814 | 0 | 0 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 575827 | 2162 | SH |  | SOLE |  | 2162 | 0 | 0 |
| HUMANA INC | COM | 444859102 |  | 1139720 | 4645 | SH |  | SOLE |  | 4645 | 0 | 0 |
| INTUIT | COM | 461202103 |  | 512747 | 651 | SH |  | SOLE |  | 651 | 0 | 0 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 3465657 | 19069 | SH |  | SOLE |  | 19069 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 524620 | 950 | SH |  | SOLE |  | 950 | 0 | 0 |
| ISHARES GOLD TR | ISHARES NEW | 464285204 |  | 56719276 | 909546 | SH |  | SOLE |  | 909546 | 0 | 0 |
| ISHARES INC | MSCI EMRG CHN | 46434G764 |  | 25350268 | 401493 | SH |  | SOLE |  | 401493 | 0 | 0 |
| ISHARES SILVER TR | ISHARES | 46428Q109 |  | 20295537 | 618578 | SH |  | SOLE |  | 618578 | 0 | 0 |
| ISHARES TR | RUS 1000 VAL ETF | 464287598 |  | 280155 | 1442 | SH |  | SOLE |  | 1442 | 0 | 0 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 340430 | 802 | SH |  | SOLE |  | 802 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 368815 | 594 | SH |  | SOLE |  | 594 | 0 | 0 |
| ISHARES TR | ESG OPTIMIZED | 464288802 |  | 3115135 | 24577 | SH |  | SOLE |  | 24577 | 0 | 0 |
| ISHARES TR | 1 3 YR TREAS BD | 464287457 |  | 13723522 | 165623 | SH |  | SOLE |  | 165623 | 0 | 0 |
| ISHARES TR | 0-5YR HI YL CP | 46434V407 |  | 38038670 | 881749 | SH |  | SOLE |  | 881749 | 0 | 0 |
| J P MORGAN EXCHANGE TRADED F | BETABULDRS JAPAN | 46641Q217 |  | 22911731 | 370860 | SH |  | SOLE |  | 370860 | 0 | 0 |
| JPMORGAN CHASE  CO. | COM | 46625H100 |  | 5472341 | 18876 | SH |  | SOLE |  | 18876 | 0 | 0 |
| LAUDER ESTEE COS INC | CL A | 518439104 |  | 926049 | 11461 | SH |  | SOLE |  | 11461 | 0 | 0 |
| LENNAR CORP | CL A | 526057104 |  | 1201446 | 10862 | SH |  | SOLE |  | 10862 | 0 | 0 |
| LIBERTY BROADBAND CORP | COM SER C | 530307305 |  | 855414 | 8695 | SH |  | SOLE |  | 8695 | 0 | 0 |
| LIVEONE INC | COM | 53814X102 |  | 518824 | 687275 | SH |  | SOLE |  | 687275 | 0 | 0 |
| MARRIOTT INTL INC NEW | CL A | 571903202 |  | 4768334 | 17453 | SH |  | SOLE |  | 17453 | 0 | 0 |
| MARTIN MARIETTA MATLS INC | COM | 573284106 |  | 238249 | 434 | SH |  | SOLE |  | 434 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 1656274 | 2244 | SH |  | SOLE |  | 2244 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 8780281 | 17652 | SH |  | SOLE |  | 17652 | 0 | 0 |
| NANO DIMENSION LTD | SPONSORED ADS NEW | 63008G203 |  | 81000 | 50000 | SH |  | SOLE |  | 50000 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 215038 | 1361 | SH |  | SOLE |  | 1361 | 0 | 0 |
| PODCASTONE INC | COM | 22275C105 |  | 256506 | 105876 | SH |  | SOLE |  | 105876 | 0 | 0 |
| PRINCIPAL EXCHANGE TRADED FD | SPECTRUM PFD | 74255Y888 |  | 28848229 | 1520729 | SH |  | SOLE |  | 1520729 | 0 | 0 |
| PTC INC | COM | 69370C100 |  | 521673 | 3027 | SH |  | SOLE |  | 3027 | 0 | 0 |
| QXO INC | COM NEW | 82846H405 |  | 732360 | 34000 | SH |  | SOLE |  | 34000 | 0 | 0 |
| SAP SE | SPON ADR | 803054204 |  | 1165311 | 3832 | SH |  | SOLE |  | 3832 | 0 | 0 |
| SCHWAB CHARLES CORP | COM | 808513105 |  | 5596753 | 61341 | SH |  | SOLE |  | 61341 | 0 | 0 |
| SHELL PLC | SPON ADS | 780259305 |  | 1457769 | 20704 | SH |  | SOLE |  | 20704 | 0 | 0 |
| SPDR SERIES TRUST | BLOOMBERG 1-3 MO | 78468R663 |  | 2844089 | 31005 | SH |  | SOLE |  | 31005 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 1470893 | 6472 | SH |  | SOLE |  | 6472 | 0 | 0 |
| UBS GROUP AG | SHS | H42097107 |  | 5126977 | 151596 | SH |  | SOLE |  | 151596 | 0 | 0 |
| ULTA BEAUTY INC | COM | 90384S303 |  | 6056398 | 12946 | SH |  | SOLE |  | 12946 | 0 | 0 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 2039348 | 6537 | SH |  | SOLE |  | 6537 | 0 | 0 |
| VANGUARD INDEX FDS | GROWTH ETF | 922908736 |  | 132542561 | 301987 | SH |  | SOLE |  | 301987 | 0 | 0 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 141630231 | 797030 | SH |  | SOLE |  | 797030 | 0 | 0 |
| VULCAN MATLS CO | COM | 929160109 |  | 225088 | 863 | SH |  | SOLE |  | 863 | 0 | 0 |
| WALMART INC | COM | 931142103 |  | 4972211 | 50851 | SH |  | SOLE |  | 50851 | 0 | 0 |
| WELLS FARGO CO NEW | COM | 949746101 |  | 525908 | 6564 | SH |  | SOLE |  | 6564 | 0 | 0 |
| WISDOMTREE TR | JAPN HEDGE EQT | 97717W851 |  | 53706372 | 469995 | SH |  | SOLE |  | 469995 | 0 | 0 |
| WOODWARD INC | COM | 980745103 |  | 1398484 | 5706 | SH |  | SOLE |  | 5706 | 0 | 0 |
| WORKDAY INC | CL A | 98138H101 |  | 1645440 | 6856 | SH |  | SOLE |  | 6856 | 0 | 0 |

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