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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
MYI icon
151
BlackRock MuniYield Quality Fund III
MYI
$709M
$140K 0.03%
+12,842
New +$141K
MQY icon
152
BlackRock MuniYield Quality Fund
MQY
$805M
$139K 0.03%
12,343
+451
+4% +$5.18K
TBLA icon
153
Taboola.com
TBLA
$1.37B
$138K 0.03%
30,000
– –
PML
154
PIMCO Municipal Income Fund II
PML
$485M
$138K 0.03%
18,185
-2,579
-12% -$20K
RPC
155
Ridgepost Capital
RPC
$949M
$133K 0.03%
13,551
+51
+0.4% +$517
AGNC icon
156
AGNC Investment
AGNC
$12.4B
$117K 0.02%
10,800
– –
MVF
157
DELISTED
BlackRock MuniVest Fund
MVF
$88.4K 0.02%
+12,751
New +$88.6K
CI icon
158
Cigna
CI
$73.8B
– –
-3,041
Closed -$877K
CVX icon
159
Chevron
CVX
$392B
– –
-3,554
Closed -$552K
ETN icon
160
Eaton
ETN
$161B
– –
-1,004
Closed -$376K
MBLY icon
161
Mobileye
MBLY
$2B
– –
-36,000
Closed -$508K
MSI icon
162
Motorola Solutions
MSI
$72.3B
– –
-622
Closed -$285K
MTN icon
163
Vail Resorts
MTN
$5.32B
– –
-7,296
Closed -$1.09M
NAD icon
164
Nuveen Quality Municipal Income Fund
NAD
$2.74B
– –
-12,024
Closed -$141K
NEA icon
165
Nuveen AMT-Free Quality Municipal Income Fund
NEA
$3.37B
– –
-12,416
Closed -$142K
NZF icon
166
Nuveen Municipal Credit Income Fund
NZF
$2.4B
– –
-11,397
Closed -$144K
PCQ
167
Pimco California Municipal Income Fund
PCQ
$163M
– –
-10,998
Closed -$96.3K
SNV
168
DELISTED
Synovus
SNV
– –
-6,500
Closed -$322K
SUI icon
169
Sun Communities
SUI
$15.2B
– –
-3,000
Closed -$390K
VGM icon
170
Invesco Trust Investment Grade Municipals
VGM
$548M
– –
-14,059
Closed -$142K
VKQ icon
171
Invesco Municipal Trust
VKQ
$541M
– –
-14,352
Closed -$138K
VMO icon
172
Invesco Municipal Opportunity Trust
VMO
$651M
– –
-14,549
Closed -$141K
CEPT
173
DELISTED
Cantor Equity Partners II
CEPT
– –
-14,185
Closed -$149K
3 4 5 6
7

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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.