13F HOLDINGS REPORT
Permanent Capital Management, LP
Quarter ended Q3 2025 · Filed October 17, 2025 · Accession 0001951757-25-001167
Total Value
$534.9M
Positions
151
Other Managers
0
Confidential Omitted
No
Holdings (151)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | VANGUARD INDEX FDS | 922908363 | 243,343 | $149.4M | 27.94% |
| 2 | VANGUARD SCOTTSDALE FDS | 92206C706 | 700,835 | $42.1M | 7.86% |
| 3 | INVESCO EXCHANGE TRADED FD T | IVZ | 216,711 | $41.1M | 7.68% |
| 4 | VANGUARD TAX-MANAGED FDS | 921943858 | 656,678 | $39.3M | 7.36% |
| 5 | MICROSOFT CORP | MSFT | 72,416 | $37.5M | 7.01% |
| 6 | WISDOMTREE TR | WT | 418,512 | $21.0M | 3.93% |
| 7 | VANGUARD INDEX FDS | 922908751 | 65,293 | $16.7M | 3.11% |
| 8 | VANGUARD INTL EQUITY INDEX F | 922042858 | 286,715 | $15.5M | 2.90% |
| 9 | ISHARES TR | 464287226 | 136,297 | $13.7M | 2.55% |
| 10 | AURORA INNOVATION INC | AUROW | 2,494,540 | $13.4M | 2.51% |
| 11 | VANGUARD INDEX FDS | 922908769 | 25,010 | $8.2M | 1.54% |
| 12 | ISHARES TR | 464288257 | 54,862 | $7.6M | 1.42% |
| 13 | SPDR SERIES TRUST | 78464A664 | 269,653 | $7.3M | 1.36% |
| 14 | ISHARES TR | 464287614 | 8,753 | $4.1M | 0.77% |
| 15 | NVIDIA CORPORATION | NVDA | 21,435 | $4.0M | 0.75% |
| 16 | SPDR S&P 500 ETF TR | SPY | 5,482 | $3.7M | 0.68% |
| 17 | SPDR GOLD TR | GLD | 10,032 | $3.6M | 0.67% |
| 18 | APPLE INC | AAPL | 13,939 | $3.5M | 0.66% |
| 19 | KRANESHARES TRUST | 500767553 | 179,240 | $3.1M | 0.57% |
| 20 | AMAZON COM INC | AMZN | 13,410 | $2.9M | 0.55% |
| 21 | UBS GROUP AG | UBS | 69,327 | $2.8M | 0.53% |
| 22 | CAPITAL ONE FINL CORP | 14040H105 | 12,960 | $2.8M | 0.52% |
| 23 | EXPAND ENERGY CORPORATION | EXE | 24,184 | $2.6M | 0.48% |
| 24 | CATERPILLAR INC | CAT | 5,369 | $2.6M | 0.48% |
| 25 | ALPHABET INC | GOOG | 9,948 | $2.4M | 0.45% |
| 26 | UNION PAC CORP | UNP | 10,090 | $2.4M | 0.45% |
| 27 | CADIZ INC | CDZIP | 496,519 | $2.3M | 0.44% |
| 28 | LIFE360 INC | LIFX | 21,539 | $2.3M | 0.43% |
| 29 | BANK NEW YORK MELLON CORP | 064058100 | 20,760 | $2.3M | 0.42% |
| 30 | O-I GLASS INC | OI | 167,295 | $2.2M | 0.41% |
| 31 | GOLAR LNG LTD | GLNG | 52,303 | $2.1M | 0.40% |
| 32 | VANGUARD INTL EQUITY INDEX F | 922042742 | 14,345 | $2.0M | 0.37% |
| 33 | IAC INC | IAC | 50,827 | $1.7M | 0.32% |
| 34 | META PLATFORMS INC | META | 2,229 | $1.6M | 0.31% |
| 35 | ALPHABET INC | GOOG | 6,397 | $1.6M | 0.29% |
| 36 | LOEWS CORP | L | 15,445 | $1.6M | 0.29% |
| 37 | PG&E CORP | PCG-PX | 99,973 | $1.5M | 0.28% |
| 38 | TECK RESOURCES LTD | TCKRF | 32,270 | $1.4M | 0.26% |
| 39 | ACACIA RESH CORP | 003881307 | 405,345 | $1.3M | 0.25% |
| 40 | INVESCO QQQ TR | IVZ | 2,083 | $1.3M | 0.23% |
| 41 | CITIGROUP INC | C-PR | 12,201 | $1.2M | 0.23% |
| 42 | BP PLC | BPPFF | 35,490 | $1.2M | 0.23% |
| 43 | JBS N.V. | JBS | 81,797 | $1.2M | 0.23% |
| 44 | AXIS CAP HLDGS LTD | G0692U109 | 12,355 | $1.2M | 0.22% |
| 45 | UNILEVER PLC | UNLYF | 19,841 | $1.2M | 0.22% |
| 46 | JPMORGAN CHASE & CO. | VYLD | 3,710 | $1.2M | 0.22% |
| 47 | BWX TECHNOLOGIES INC | BWXT | 6,300 | $1.2M | 0.22% |
| 48 | ISHARES TR | 464287655 | 4,744 | $1.1M | 0.21% |
| 49 | BROADCOM INC | AVGO | 3,443 | $1.1M | 0.21% |
| 50 | WALMART INC | WMT | 10,700 | $1.1M | 0.21% |
| 51 | GENERAL MTRS CO | 37045V100 | 18,067 | $1.1M | 0.21% |
| 52 | VAIL RESORTS INC | MTN | 7,296 | $1.1M | 0.20% |
| 53 | JOHNSON & JOHNSON | JNJ | 5,796 | $1.1M | 0.20% |
| 54 | MARINEMAX INC | HZO | 42,302 | $1.1M | 0.20% |
| 55 | ARAMARK | ARMK | 27,651 | $1.1M | 0.20% |
| 56 | AMERICAN INTL GROUP INC | 026874784 | 12,826 | $1.0M | 0.19% |
| 57 | EXXON MOBIL CORP | XOM | 8,160 | $920,040 | 0.17% |
| 58 | AURA BIOSCIENCES INC | AURA | 147,769 | $913,212 | 0.17% |
| 59 | CANNAE HLDGS INC | CNNE | 49,000 | $897,190 | 0.17% |
| 60 | VISA INC | V | 2,568 | $876,664 | 0.16% |
| 61 | THE CIGNA GROUP | 125523100 | 3,041 | $876,568 | 0.16% |
| 62 | COSTCO WHSL CORP NEW | 22160K105 | 944 | $873,795 | 0.16% |
| 63 | ALIGHT INC | ALIT | 260,000 | $847,600 | 0.16% |
| 64 | S&P GLOBAL INC | SPGI | 1,698 | $826,434 | 0.15% |
| 65 | NEWS CORP NEW | NWSLL | 26,361 | $812,182 | 0.15% |
| 66 | COCA COLA CO | KO | 12,140 | $811,316 | 0.15% |
| 67 | NORTHERN TR CORP | NTRSO | 5,990 | $811,046 | 0.15% |
| 68 | MGM RESORTS INTERNATIONAL | MGM | 21,290 | $737,911 | 0.14% |
| 69 | ABBVIE INC | ABBV | 3,109 | $719,858 | 0.13% |
| 70 | BRUNSWICK CORP | BC-PC | 11,230 | $710,185 | 0.13% |
| 71 | INVESCO EXCH TRADED FD TR II | IVZ | 8,949 | $699,901 | 0.13% |
| 72 | VERIZON COMMUNICATIONS INC | VZ | 15,715 | $690,674 | 0.13% |
| 73 | VANGUARD SCOTTSDALE FDS | 92206C102 | 11,542 | $679,247 | 0.13% |
| 74 | DEERE & CO | DE | 1,461 | $670,424 | 0.13% |
| 75 | MARSH & MCLENNAN COS INC | 571748102 | 3,220 | $648,927 | 0.12% |
| 76 | BANK AMERICA CORP | 060505104 | 12,575 | $648,744 | 0.12% |
| 77 | ALASKA AIR GROUP INC | ALK | 12,395 | $617,023 | 0.12% |
| 78 | INTERNATIONAL BUSINESS MACHS | INTR | 2,161 | $609,748 | 0.11% |
| 79 | CHEVRON CORP NEW | CVX | 3,554 | $551,901 | 0.10% |
| 80 | NEXTERA ENERGY INC | NEE-PW | 7,112 | $536,885 | 0.10% |
| 81 | ARS PHARMACEUTICALS INC | SPRY | 53,341 | $536,077 | 0.10% |
| 82 | REDDIT INC | RDDT | 2,250 | $517,478 | 0.10% |
| 83 | MOBILEYE GLOBAL INC | MBLY | 36,000 | $508,320 | 0.10% |
| 84 | ISHARES TR | 464288125 | 6,351 | $483,819 | 0.09% |
| 85 | APOLLO GLOBAL MGMT INC | 03769M106 | 3,484 | $464,313 | 0.09% |
| 86 | INTERCONTINENTAL EXCHANGE IN | 45866F104 | 2,578 | $434,341 | 0.08% |
| 87 | MCKESSON CORP | MCK | 561 | $433,855 | 0.08% |
| 88 | BLUE OWL CAPITAL INC | OWL | 25,146 | $425,722 | 0.08% |
| 89 | ISHARES TR | 464287465 | 4,552 | $425,020 | 0.08% |
| 90 | MCDONALDS CORP | MCD | 1,384 | $420,584 | 0.08% |
| 91 | SPOTIFY TECHNOLOGY S A | SPOT | 574 | $400,652 | 0.07% |
| 92 | FIDELITY COVINGTON TRUST | 316092840 | 7,097 | $395,374 | 0.07% |
| 93 | SUN CMNTYS INC | 866674104 | 3,000 | $390,120 | 0.07% |
| 94 | APPLIED MATLS INC | 038222105 | 1,890 | $386,959 | 0.07% |
| 95 | CNX RES CORP | CNX | 11,786 | $378,566 | 0.07% |
| 96 | KIMBERLY-CLARK CORP | KMB | 3,001 | $376,926 | 0.07% |
| 97 | EATON CORP PLC | ETN | 1,004 | $375,747 | 0.07% |
| 98 | CENCORA INC | COR | 1,187 | $370,973 | 0.07% |
| 99 | FIDELITY MERRIMACK STR TR | 316188309 | 7,942 | $368,572 | 0.07% |
| 100 | CROWN HLDGS INC | CCK | 3,807 | $367,718 | 0.07% |
| 101 | MSCI INC | MSCI | 636 | $360,873 | 0.07% |
| 102 | ISHARES BITCOIN TRUST ETF | IBIT | 5,493 | $357,045 | 0.07% |
| 103 | BROOKFIELD CORP | 11271J107 | 4,919 | $337,345 | 0.06% |
| 104 | BOSTON SCIENTIFIC CORP | BSX | 3,431 | $334,969 | 0.06% |
| 105 | SYNOVUS FINL CORP | 87161C501 | 6,500 | $321,555 | 0.06% |
| 106 | HOWMET AEROSPACE INC | HWM | 1,624 | $318,678 | 0.06% |
| 107 | SERVICENOW INC | NOW | 346 | $318,417 | 0.06% |
| 108 | ISHARES TR | 464287408 | 1,541 | $318,232 | 0.06% |
| 109 | THERMO FISHER SCIENTIFIC INC | TMO | 644 | $312,630 | 0.06% |
| 110 | TRANSUNION | TRU | 3,692 | $309,316 | 0.06% |
| 111 | AMEREN CORP | AEE | 2,903 | $303,015 | 0.06% |
| 112 | TESLA INC | TSLA | 674 | $299,741 | 0.06% |
| 113 | CONOCOPHILLIPS | COP | 3,036 | $287,175 | 0.05% |
| 114 | MOTOROLA SOLUTIONS INC | MSI | 622 | $285,112 | 0.05% |
| 115 | INTUITIVE SURGICAL INC | ISRG | 614 | $274,599 | 0.05% |
| 116 | ISHARES TR | 46432F339 | 1,406 | $273,467 | 0.05% |
| 117 | CRH PLC | CRH | 2,258 | $270,734 | 0.05% |
| 118 | NORTHROP GRUMMAN CORP | NOC | 442 | $269,319 | 0.05% |
| 119 | DANAHER CORPORATION | 235851102 | 1,355 | $269,076 | 0.05% |
| 120 | DIAGEO PLC | DGEAF | 2,816 | $268,731 | 0.05% |
| 121 | BGC GROUP INC | BGC | 28,378 | $268,456 | 0.05% |
| 122 | TAKE-TWO INTERACTIVE SOFTWAR | TTWO | 1,019 | $263,269 | 0.05% |
| 123 | BARRICK MNG CORP | 06849F108 | 8,025 | $262,979 | 0.05% |
| 124 | DIGITAL RLTY TR INC | 253868103 | 1,464 | $253,096 | 0.05% |
| 125 | UNITEDHEALTH GROUP INC | UNH | 731 | $252,414 | 0.05% |
| 126 | GARTNER INC | IT | 952 | $250,252 | 0.05% |
| 127 | CORNING INC | GLW | 2,901 | $237,969 | 0.04% |
| 128 | SHERWIN WILLIAMS CO | SHW | 687 | $237,881 | 0.04% |
| 129 | SUBURBAN PROPANE PARTNERS L | SPH | 12,614 | $235,251 | 0.04% |
| 130 | HILTON WORLDWIDE HLDGS INC | HLT | 890 | $230,902 | 0.04% |
| 131 | HALLADOR ENERGY COMPANY | HNRG | 11,777 | $230,476 | 0.04% |
| 132 | ATLANTA BRAVES HLDGS INC | BATRB | 5,000 | $227,350 | 0.04% |
| 133 | FORTINET INC | FTNT | 2,576 | $216,590 | 0.04% |
| 134 | VANGUARD INDEX FDS | 922908744 | 1,125 | $210,862 | 0.04% |
| 135 | DIMENSIONAL ETF TRUST | 25434V708 | 5,250 | $202,492 | 0.04% |
| 136 | AES CORP | AES | 12,695 | $167,066 | 0.03% |
| 137 | PIMCO MUN INCOME FD II | 72200W106 | 20,764 | $165,063 | 0.03% |
| 138 | CANTOR EQUITY PARTNERS II IN | G1827P106 | 14,185 | $149,084 | 0.03% |
| 139 | PROCAP ACQUISITION CORP | PCAPW | 14,038 | $147,399 | 0.03% |
| 140 | P10 INC | 69376K106 | 13,500 | $146,880 | 0.03% |
| 141 | NUVEEN MUNICIPAL CREDIT INC | NU | 11,397 | $144,052 | 0.03% |
| 142 | INVESCO TR INVT GRADE MUNS | IVZ | 14,059 | $142,277 | 0.03% |
| 143 | NUVEEN AMT FREE QLTY MUN INC | NU | 12,416 | $142,263 | 0.03% |
| 144 | NUVEEN QUALITY MUNCP INCOME | NU | 12,024 | $141,408 | 0.03% |
| 145 | INVESCO MUN OPPORTUNITY TR | IVZ | 14,549 | $140,689 | 0.03% |
| 146 | BLACKROCK MUNIHOLDINGS FD IN | BLK | 11,893 | $140,450 | 0.03% |
| 147 | BLACKROCK MUNIYILD QULT FD I | BLK | 11,892 | $139,232 | 0.03% |
| 148 | INVESCO MUNICIPAL TRUST | VKQ | 14,352 | $138,497 | 0.03% |
| 149 | AGNC INVT CORP | 00123Q104 | 10,800 | $107,028 | 0.02% |
| 150 | TABOOLA.COM LTD | TBLAW | 30,000 | $102,300 | 0.02% |
| 151 | PIMCO CALIF MUN INCOME FD | 72200N106 | 10,998 | $96,298 | 0.02% |