Permit Capital, LLC
SEC Form 13F institutional filer · CIK 0001313978
13F-HR · 10 reported holdings · 2026-03-31
Reported long-US-equity value
$0.19B
Top-10 concentration
100.0%
Permit Capital, LLC — $192M AUM allocation strategy
Permit Capital, LLC files SEC Form 13F and reports $192M of long US equity value across 10 reported holdings for 2026-03-31.
Its largest sector bet is Real Estate 51.7%, followed by Communication Services 16.1% and Information Technology 15.2%.
The top 10 holdings account for 100% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
Permit Capital, LLC — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$192M
total across 10 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
100% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$HPQ +300K sh · +$4.94M+$GEN +50K sh · −$1.78M+$EXPE +4K sh · −$2.9M
Added from nil (new positions)
None this quarter
Exited to nil (held last quarter, gone now)
None this quarter
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Telecom Tower REITs51.7%—
- Technology Hardware, Storage & Peripherals11.5%—
- Interactive Media & Services9.7%—
- Hotels, Resorts & Cruise Lines9.3%—
- Wireless Telecommunication Services6.4%—
- Health Care Services4.7%—
- Systems Software3.7%—
- Transaction & Payment Processing Services3.1%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $SBAC | SBA Communications Corporation | 575K | $99M | +0 | 51.7% |
| $EXPE | Expedia Group Inc | 77K | $17.8M | +4K | 9.3% |
| $ECHO | EchoStar Corporation | 105K | $12.3M | +0 | 6.4% |
| $WDC | Western Digital Corporation | 41.2K | $11.1M | -38.8K | 5.8% |
| $HPQ | HP Inc | 569K | $10.9M | +300K | 5.7% |
| $GOOGL | Alphabet Inc | 34.7K | $9.95M | -8.3K | 5.2% |
| $CVS | CVS Health Corporation | 126K | $9.01M | +0 | 4.7% |
| $META | Meta Platforms Inc | 15K | $8.58M | +0 | 4.5% |
| $GEN | Gen Digital Inc | 375K | $7.06M | +50K | 3.7% |
| $PYPL | PayPal Holdings Inc | 130K | $5.88M | +0 | 3.1% |
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
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How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
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