Permit Capital, LLC
Long book
$294.4M
Q1 2026
Positions
19
Top-10 weight
78%
concentration
Last quarter
+19.8%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsPermit Capital, LLC is a concentrated fundamental stock-picker, running a $294.4M US long book across 19 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: SBA COMMUNICATIONS CORP, PITNEY BOWES INC, EXPEDIA GROUP INC, ECHOSTAR CORP-A, WESTERN DIGITAL CORP.
Over the last 9 quarters its long book ran on average 1pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.7%
Q2 2024
+19.2%
Q3 2024
-5.5%
Q4 2024
+2.4%
Q1 2025
+11.6%
Q2 2025
+4.4%
Q3 2025
+3.4%
Q4 2025
-6.3%
Q1 2026
+19.8%
Sector allocation
Technology 54%
Industrials 9%
Financials 9%
Services media 8%
Communications 6%
Energy 5%
Healthcare 5%
Consumer discretionary 4%
Long book by quarter
What does Permit Capital, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| PBI PITNEY BOWES INC | Technology | 3.5M | $38.7M | 13.1% | +7.7% |
| EXPE EXPEDIA GROUP INC | Industrials | 77.0K | $17.8M | 6.0% | +5.5% |
| ECHO ECHOSTAR CORP-A | Communications | 105.3K | $12.3M | 4.2% | Held |
| WDC WESTERN DIGITAL CORP | Technology | 41.2K | $11.1M | 3.8% | -48.5% |
| HPQ HP INC | Technology | 569.0K | $10.9M | 3.7% | +111.5% |
| MTCH MATCH GROUP INC | Technology | 350.0K | $10.7M | 3.7% | Held |
| FTDR FRONTDOOR INC | Services media | 197.6K | $10.4M | 3.5% | Held |
| GOOG ALPHABET INC-CL C | Technology | 34.7K | $10.0M | 3.4% | -19.3% |
| RRC RANGE RESOURCES CORP | Energy | 208.8K | $9.4M | 3.2% | Held |
| CVS CVS HEALTH CORP | Healthcare | 125.5K | $9.0M | 3.1% | Held |
| MTG MGIC INVESTMENT CORP | Financials | 341.4K | $9.0M | 3.0% | Held |
| IDCC INTERDIGITAL INC | Financials | 28.9K | $8.7M | 3.0% | -30.4% |
| META META PLATFORMS INC-CLASS A | Technology | 15.0K | $8.6M | 2.9% | Held |
| OTEX OPEN TEXT CORP | Technology | 360.0K | $8.0M | 2.7% | +16.1% |
| GEN GEN DIGITAL INC | Technology | 375.0K | $7.1M | 2.4% | +15.4% |
| SIG SIGNET JEWELERS LTD | Consumer discretionary | 81.0K | $6.9M | 2.3% | Held |
| PYPL PAYPAL HOLDINGS INC | Services media | 130.0K | $5.9M | 2.0% | Held |
| QVCAQ QVC GROUP INC | Consumer discretionary | 398.1K | $864K | 0.3% | +2.6% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 7, 2026 | 19 | $294.4M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 11, 2026 | 19 | $321.4M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 10, 2025 | 20 | $319.1M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 6, 2025 | 20 | $308.8M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 14, 2025 | 20 | $282.1M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 31 | $290.4M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR/ARESTATEMENT | Feb 14, 2025 | 31 | $325.1M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 31 | $316.8M | SEC ↗ | |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 30 | $266.0M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 26 | $156.8M | canonical | SEC ↗ |
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