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PCM
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
(-4%)
Cap. Flow
-$26.7M
Cap. Flow
% of AUM
-5.2%
Top 10 Holdings %
Top 10 Hldgs %
72.19%
Holding
173
New
22
Increased
58
Reduced
55
Closed
16
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Boeing
BA
|
+$1.47M |
| 2 |
Vanguard S&P 500 ETF
VOO
|
+$1.35M |
| 3 |
Progressive
PGR
|
+$1.07M |
| 4 |
Becton Dickinson
BDX
|
+$891K |
| 5 |
Vanguard FTSE Developed Markets ETF
VEA
|
+$684K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard Morningstar Small-Cap ETF
VB
|
+$9.96M |
| 2 |
Vanguard Intermediate-Term Treasury ETF
VGIT
|
+$6.64M |
| 3 |
Aurora
AUR
|
+$5.29M |
| 4 |
WisdomTree Floating Rate Treasury Fund
USFR
|
+$3.54M |
| 5 |
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 | |
|---|---|---|---|---|---|---|
101
CRH
CRH
$63.2B
| $340K | 0.07% |
2,725
+467
| +21% | +$55.6K |
|
102
Brookfield
BN
$104B
| $339K | 0.07% |
7,377
-2
| -0% | -$91 |
|
103
TransUnion
TRU
$15.1B
| $338K | 0.07% |
3,946
+254
| +7% | +$20.9K |
|
104
Tesla
TSLA
$1.23T
| $336K | 0.07% |
747
+73
| +11% | +$32.4K |
|
105
iShares S&P 500 Value ETF
IVE
$49B
| $333K | 0.06% |
1,568
+27
| +2% | +$5.66K |
|
106
UnitedHealth
UNH
$376B
| $326K | 0.06% |
989
+258
| +35% | +$87.4K |
|
107
McKesson
MCK
$100B
| $326K | 0.06% |
397
-164
| -29% | -$134K |
|
108
Howmet Aerospace
HWM
$113B
| $303K | 0.06% |
1,477
-147
| -9% | -$29.3K |
|
109
Ameren
AEE
$30.3B
| $291K | 0.06% |
2,919
+16
| +0.6% | +$1.64K |
|
110
ConocoPhillips
COP
$147B
| $288K | 0.06% |
3,072
+36
| +1% | +$3.26K |
|
111
iShares Bitcoin Trust
IBIT
$46.7B
| $286K | 0.06% |
5,767
+274
| +5% | +$15.6K |
|
112
VanEck Junior Gold Miners ETF
GDXJ
$6.89B
| $285K | 0.06% |
+2,509
| New | +$259K |
|
113
Thermo Fisher Scientific
TMO
$213B
| $280K | 0.05% |
482
-162
| -25% | -$91.6K |
|
114
Cencora
COR
$60.6B
| $276K | 0.05% |
818
-369
| -31% | -$126K |
|
115
iShares MSCI USA Quality Factor ETF
QUAL
$46.4B
| $272K | 0.05% |
1,371
-35
| -2% | -$6.88K |
|
116
ServiceNow
NOW
$115B
| $269K | 0.05% |
1,755
+25
| +1% | +$4.29K |
|
117
Danaher
DHR
$137B
| $263K | 0.05% |
1,149
-206
| -15% | -$45.3K |
|
|
118
KraneShares California Carbon Allowance Strategy ETF
KCCA
$115M
| $261K | 0.05% |
15,540
-163,700
| -91% | -$2.79M |
|
119
CNX Resources
CNX
$5.06B
| $260K | 0.05% |
7,077
-4,709
| -40% | -$169K |
|
120
Hilton Worldwide
HLT
$72.1B
| $257K | 0.05% |
893
+3
| +0.3% | +$817 |
|
121
Corning
GLW
$119B
| $256K | 0.05% |
2,925
+24
| +0.8% | +$2.07K |
|
122
Northrop Grumman
NOC
$77.1B
| $254K | 0.05% |
446
+4
| +0.9% | +$2.32K |
|
123
BGC Group
BGC
$5.52B
| $253K | 0.05% |
28,378
| – | – |
|
124
TSMC
TSM
$2.1T
| $251K | 0.05% |
+825
| New | +$242K |
|
125
MSCI
MSCI
$41.6B
| $246K | 0.05% |
429
-207
| -33% | -$116K |
|
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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.