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Permanent Capital Management Portfolio holdings

AUM $643M
This Fund
S&P 500
This Quarter Est. Return
+1.82%
1 Year Est. Return
–
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$513M
AUM Growth
-$21.7M
Cap. Flow
-$26.7M
Cap. Flow %
-5.2%
Top 10 Hldgs %
72.19%
Holding
173
New
22
Increased
58
Reduced
55
Closed
16

Top Buys

Rank Stock Value
1
BA icon
Boeing
BA
+$1.47M
2
VOO icon
Vanguard S&P 500 ETF
VOO
+$1.35M
3
PGR icon
Progressive
PGR
+$1.07M
4
BDX icon
Becton Dickinson
BDX
+$891K
5
VEA icon
Vanguard FTSE Developed Markets ETF
VEA
+$684K

Top Sells

Rank Stock Value
1
VB icon
Vanguard Morningstar Small-Cap ETF
VB
+$9.96M
2
VGIT icon
Vanguard Intermediate-Term Treasury ETF
VGIT
+$6.64M
3
AUR icon
Aurora
AUR
+$5.29M
4
USFR icon
WisdomTree Floating Rate Treasury Fund
USFR
+$3.54M
5
KCCA icon
KraneShares California Carbon Allowance Strategy ETF
KCCA
+$2.79M

Sector Composition

Rank Sector Weight
1 Technology 9.28%
2 Financials 4.71%
3 Consumer Discretionary 3.11%
4 Industrials 2.31%
5 Communication Services 2.16%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
UNP icon
26
Union Pacific
UNP
$174B
$2.45M 0.48%
10,611
+521
+5% +$119K
BNY
27
Bank of New York Mellon
BNY
$106B
$2.41M 0.47%
20,773
+13
+0.1% +$1.44K
GLNG icon
28
Golar LNG
GLNG
$5B
$2.2M 0.43%
59,183
+6,880
+13% +$263K
OI icon
29
O-I Glass
OI
$1.1B
$2.09M 0.41%
141,546
-25,749
-15% -$341K
VT icon
30
Vanguard Total World Stock ETF
VT
$77.1B
$2.02M 0.39%
14,345
– –
GOOG icon
31
Alphabet (Google) Class C
GOOG
$4.36T
$1.89M 0.37%
6,010
-387
-6% -$111K
PPLI
32
People Inc
PPLI
$3.09B
$1.65M 0.32%
42,322
-8,505
-17% -$298K
L icon
33
Loews
L
$23.9B
$1.63M 0.32%
15,455
+10
+0.1% +$1.03K
PCG icon
34
PG&E
PCG
$38.3B
$1.61M 0.31%
100,029
+56
+0.1% +$894
BA icon
35
Boeing
BA
$171B
$1.55M 0.3%
+7,152
New +$1.47M
TECK icon
36
Teck Resources
TECK
$29.6B
$1.55M 0.3%
32,270
– –
ACTG icon
37
Acacia Research
ACTG
$428M
$1.52M 0.3%
405,345
– –
META icon
38
Meta Platforms (Facebook)
META
$1.42T
$1.43M 0.28%
2,169
-60
-3% -$40.1K
QQQ icon
39
Invesco QQQ Trust
QQQ
$453B
$1.33M 0.26%
2,173
+90
+4% +$55.2K
AXS icon
40
AXIS Capital
AXS
$7.68B
$1.33M 0.26%
12,355
– –
IWM icon
41
iShares Russell 2000 ETF
IWM
$79.8B
$1.31M 0.25%
5,308
+564
+12% +$139K
GM icon
42
General Motors
GM
$80.4B
$1.23M 0.24%
15,091
-2,976
-16% -$210K
AVGO icon
43
Broadcom
AVGO
$1.85T
$1.21M 0.24%
3,493
+50
+1% +$17.9K
WMT icon
44
Walmart Inc
WMT
$885B
$1.21M 0.24%
10,808
+108
+1% +$11.6K
C icon
45
Citigroup
C
$222B
$1.18M 0.23%
10,148
-2,053
-17% -$213K
JBS
46
JBS N.V.
JBS
$46.1B
$1.18M 0.23%
81,797
– –
JNJ icon
47
Johnson & Johnson
JNJ
$618B
$1.17M 0.23%
5,664
-132
-2% -$26.1K
UL icon
48
Unilever
UL
$137B
$1.15M 0.22%
17,621
-15
-0.1% -$1.01K
AIG icon
49
American International
AIG
$41.7B
$1.1M 0.21%
12,844
+18
+0.1% +$1.44K
PGR icon
50
Progressive
PGR
$123B
$1.08M 0.21%
+4,737
New +$1.07M
1
2
3 4 5

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Permanent Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Permanent Capital Management held 173 positions worth $513M, down 4% from $535M the previous quarter. Its ten largest holdings account for 72% of the portfolio.

Permanent Capital Management withdrew a net $26.7M in Q4 2025, closing 16 positions and reducing 55 holdings. Its most notable exit was Vail Resorts, an estimated $1.09M position sold in full.

By sector, the portfolio is most concentrated in Technology at 9.3% of assets, down from 9.7% a quarter earlier, followed by Financials and Consumer Discretionary.

Against the trend, Permanent Capital Management opened a new position in Boeing worth $1.55M.

  • Permanent Capital Management's largest Q4 2025 buy was Boeing: 7,152 shares worth $1.55M.
  • Permanent Capital Management added most to Vanguard S&P 500 ETF in Q4 2025, an estimated $1.35M increase.
  • Permanent Capital Management's biggest Q4 2025 reduction was Vanguard Morningstar Small-Cap ETF, cutting an estimated $9.96M.
  • Permanent Capital Management fully exited Vail Resorts in Q4 2025, selling an estimated $1.09M.
  • Permanent Capital Management's ten largest holdings make up 72% of its $513M portfolio in Q4 2025.
  • Permanent Capital Management opened 22 new positions and closed 16 in Q4 2025.
  • Permanent Capital Management's portfolio value fell 4% quarter-over-quarter to $513M.

Based on Permanent Capital Management's 13F filing for Q4 2025, filed 7 Jan 2026.