Permian Investment Partners

Period

Q1 2026

Portfolio Date

Mar 31, 2026

Stocks Held

Market Value

$904.9M

Holdings Value Trend

Q2 2024

Q3 2024

Q4 2024

Q1 2025

Q2 2025

Q3 2025

Q4 2025

Q1 2026

Top 5 Holdings

$GRFS

Grifols, S.A.

17.1%

% of Portfolio

Increased 6.40%

$TIC

TIC Solutions, Inc.

16.0%

% of Portfolio

Increased 14.49%

$NRG

NRG Energy, Inc.

14.9%

% of Portfolio

Increased 47.20%

$MRP

Millrose Properties, Inc.

12.0%

% of Portfolio

Increased 2.24%

$ARMK

Aramark

11.0%

% of Portfolio

Increased 26.31%

Historical Positions

Symbol	Q1 2026	Q4 2025	Q3 2025	Q2 2025
GRFS	17.1%	19.3%	19.6%	18.4%
TIC	16.0%	21.9%	21.9%	11.7%
NRG	14.9%	11.3%	14.1%	10.8%
MRP	12.0%	12.8%	6.7%	8.6%
ARMK	11.0%	8.1%	9.2%	10.2%
REZI	7.2%	9.8%	4.7%	-
AMRZ	5.9%	6.0%	-	-
TRS	4.8%	3.3%	-	-
AMTM	4.5%	-	-	-
CNH	4.4%	-	-	-

Post-Filing Contributors

Price change since reported price, ranked by portfolio contribution

TIC+23.25%

ARMK+31.94%

TRS+18.59%

MRP+2.96%

Post-Filing Detractors

Price change since reported price, ranked by portfolio contribution

NRG-9.31%

GRFS-6.98%

AMTM-17.56%

REZI-9.79%

AMRZ-2.42%

Sector Analysis

Materials6.0%

Utilities15.2%

Healthcare17.6%

Industrials44.1%

Real Estate12.3%

Consumer Discretionary4.9%

Trading Summary

$AMTM

4.5%

New

$CNH

4.4%

New

$ETF-VGK

1.9%

New

All Holdings

$GRFS

17.1%

Increased 6.40%

$TIC

16.0%

Increased 14.49%

$NRG

14.9%

Increased 47.20%

$MRP

12.0%

Increased 2.24%

$ARMK

11.0%

Increased 26.31%

$REZI

7.2%

Decreased 22.05%

$AMRZ

5.9%

Decreased 3.37%

$TRS

4.8%

Increased 46.03%

$AMTM

4.5%

New

$CNH

4.4%

New

$ETF-VGK

1.9%

New

$ETF-FBTC

0.2%

Decreased 55.00%

$ETF-IBIT

0.1%

Decreased 53.08%