13F HOLDINGS REPORT
Permanent Capital Management, LP
Quarter ended Q4 2025 · Filed January 7, 2026 · Accession 0001951757-26-000033
Total Value
$513.3M
Positions
157
Other Managers
0
Confidential Omitted
No
Holdings (157)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | VANGUARD INDEX FDS | 922908363 | 245,519 | $154.0M | 30.00% |
| 2 | INVESCO EXCHANGE TRADED FD T | IVZ | 218,091 | $41.8M | 8.14% |
| 3 | VANGUARD TAX-MANAGED FDS | 921943858 | 667,846 | $41.7M | 8.13% |
| 4 | VANGUARD SCOTTSDALE FDS | 92206C706 | 590,480 | $35.4M | 6.89% |
| 5 | MICROSOFT CORP | MSFT | 72,189 | $34.9M | 6.80% |
| 6 | WISDOMTREE TR | WT | 348,134 | $17.5M | 3.41% |
| 7 | VANGUARD INTL EQUITY INDEX F | 922042858 | 292,437 | $15.7M | 3.06% |
| 8 | ISHARES TR | 464287226 | 138,582 | $13.8M | 2.70% |
| 9 | VANGUARD INDEX FDS | 922908769 | 23,727 | $8.0M | 1.55% |
| 10 | ISHARES TR | 464288257 | 54,862 | $7.8M | 1.51% |
| 11 | SPDR SERIES TRUST | 78464A664 | 279,198 | $7.4M | 1.44% |
| 12 | VANGUARD INDEX FDS | 922908751 | 26,423 | $6.8M | 1.33% |
| 13 | AURORA INNOVATION INC | AUROW | 1,340,223 | $5.1M | 1.00% |
| 14 | NVIDIA CORPORATION | NVDA | 22,789 | $4.3M | 0.83% |
| 15 | ISHARES TR | 464287614 | 8,762 | $4.1M | 0.81% |
| 16 | SPDR GOLD TR | GLD | 9,803 | $3.9M | 0.76% |
| 17 | APPLE INC | AAPL | 14,080 | $3.8M | 0.75% |
| 18 | CAPITAL ONE FINL CORP | 14040H105 | 13,719 | $3.3M | 0.65% |
| 19 | AMAZON COM INC | AMZN | 13,942 | $3.2M | 0.63% |
| 20 | CATERPILLAR INC | CAT | 5,586 | $3.2M | 0.62% |
| 21 | UBS GROUP AG | UBS | 67,470 | $3.1M | 0.61% |
| 22 | ALPHABET INC | GOOG | 9,931 | $3.1M | 0.61% |
| 23 | SPDR S&P 500 ETF TR | SPY | 4,185 | $2.9M | 0.56% |
| 24 | CADIZ INC | CDZIP | 496,519 | $2.8M | 0.54% |
| 25 | EXPAND ENERGY CORPORATION | EXE | 23,845 | $2.6M | 0.51% |
| 26 | UNION PAC CORP | UNP | 10,611 | $2.5M | 0.48% |
| 27 | BANK NEW YORK MELLON CORP | 064058100 | 20,773 | $2.4M | 0.47% |
| 28 | GOLAR LNG LTD | GLNG | 59,183 | $2.2M | 0.43% |
| 29 | O-I GLASS INC | OI | 141,546 | $2.1M | 0.41% |
| 30 | VANGUARD INTL EQUITY INDEX F | 922042742 | 14,345 | $2.0M | 0.39% |
| 31 | ALPHABET INC | GOOG | 6,010 | $1.9M | 0.37% |
| 32 | IAC INC | IAC | 42,322 | $1.7M | 0.32% |
| 33 | LOEWS CORP | L | 15,455 | $1.6M | 0.32% |
| 34 | PG&E CORP | PCG-PX | 100,029 | $1.6M | 0.31% |
| 35 | BOEING CO | BA-PA | 7,152 | $1.6M | 0.30% |
| 36 | TECK RESOURCES LTD | TCKRF | 32,270 | $1.5M | 0.30% |
| 37 | ACACIA RESH CORP | 003881307 | 405,345 | $1.5M | 0.30% |
| 38 | META PLATFORMS INC | META | 2,169 | $1.4M | 0.28% |
| 39 | INVESCO QQQ TR | IVZ | 2,173 | $1.3M | 0.26% |
| 40 | AXIS CAP HLDGS LTD | G0692U109 | 12,355 | $1.3M | 0.26% |
| 41 | ISHARES TR | 464287655 | 5,308 | $1.3M | 0.25% |
| 42 | GENERAL MTRS CO | 37045V100 | 15,091 | $1.2M | 0.24% |
| 43 | BROADCOM INC | AVGO | 3,493 | $1.2M | 0.24% |
| 44 | WALMART INC | WMT | 10,808 | $1.2M | 0.24% |
| 45 | CITIGROUP INC | C-PR | 10,148 | $1.2M | 0.23% |
| 46 | JBS N.V. | JBS | 81,797 | $1.2M | 0.23% |
| 47 | JOHNSON & JOHNSON | JNJ | 5,664 | $1.2M | 0.23% |
| 48 | UNILEVER PLC | UNLYF | 17,621 | $1.2M | 0.22% |
| 49 | AMERICAN INTL GROUP INC | 026874784 | 12,844 | $1.1M | 0.21% |
| 50 | PROGRESSIVE CORP | 743315103 | 4,737 | $1.1M | 0.21% |
| 51 | JPMORGAN CHASE & CO. | VYLD | 3,327 | $1.1M | 0.21% |
| 52 | MARINEMAX INC | HZO | 42,302 | $1.0M | 0.20% |
| 53 | EXXON MOBIL CORP | XOM | 8,263 | $994,369 | 0.19% |
| 54 | BP PLC | BPPFF | 27,993 | $972,209 | 0.19% |
| 55 | LIFE360 INC | LIFX | 14,328 | $918,998 | 0.18% |
| 56 | BECTON DICKINSON & CO | BDX | 4,684 | $909,024 | 0.18% |
| 57 | S&P GLOBAL INC | SPGI | 1,667 | $871,158 | 0.17% |
| 58 | VISA INC | V | 2,479 | $869,410 | 0.17% |
| 59 | COCA COLA CO | KO | 12,069 | $843,744 | 0.16% |
| 60 | KIMBERLY-CLARK CORP | KMB | 8,187 | $837,247 | 0.16% |
| 61 | BWX TECHNOLOGIES INC | BWXT | 4,838 | $836,200 | 0.16% |
| 62 | NORTHERN TR CORP | NTRSO | 5,998 | $824,065 | 0.16% |
| 63 | ABBVIE INC | ABBV | 3,551 | $811,368 | 0.16% |
| 64 | MGM RESORTS INTERNATIONAL | MGM | 21,288 | $776,799 | 0.15% |
| 65 | COSTCO WHSL CORP NEW | 22160K105 | 879 | $757,997 | 0.15% |
| 66 | INVESCO EXCH TRADED FD TR II | IVZ | 8,670 | $730,794 | 0.14% |
| 67 | NEWS CORP NEW | NWSLL | 26,361 | $688,549 | 0.13% |
| 68 | VANGUARD SCOTTSDALE FDS | 92206C102 | 11,691 | $686,613 | 0.13% |
| 69 | DEERE & CO | DE | 1,467 | $685,368 | 0.13% |
| 70 | BRUNSWICK CORP | BC-PC | 9,230 | $685,235 | 0.13% |
| 71 | SELECT MED HLDGS CORP | 81619Q105 | 45,000 | $668,250 | 0.13% |
| 72 | BANK AMERICA CORP | 060505104 | 11,645 | $640,475 | 0.12% |
| 73 | SL GREEN RLTY CORP | 78440X887 | 13,628 | $625,116 | 0.12% |
| 74 | ALASKA AIR GROUP INC | ALK | 12,394 | $623,418 | 0.12% |
| 75 | NEXTERA ENERGY INC | NEE-PW | 7,708 | $618,798 | 0.12% |
| 76 | VERIZON COMMUNICATIONS INC | VZ | 15,164 | $617,630 | 0.12% |
| 77 | ARS PHARMACEUTICALS INC | SPRY | 52,306 | $609,365 | 0.12% |
| 78 | MARSH & MCLENNAN COS INC | 571748102 | 3,236 | $600,343 | 0.12% |
| 79 | INTERNATIONAL BUSINESS MACHS | INTR | 2,015 | $596,863 | 0.12% |
| 80 | FIRST WESTN FINL INC | 33751L105 | 21,000 | $563,010 | 0.11% |
| 81 | HUT 8 CORP | HUT | 12,000 | $551,280 | 0.11% |
| 82 | REDDIT INC | RDDT | 2,390 | $549,389 | 0.11% |
| 83 | BLUE OWL CAPITAL INC | OWL | 35,518 | $530,639 | 0.10% |
| 84 | SPROTT ASSET MANAGEMENT LP | SII | 21,920 | $518,408 | 0.10% |
| 85 | APPLIED MATLS INC | 038222105 | 1,791 | $460,269 | 0.09% |
| 86 | MCDONALDS CORP | MCD | 1,504 | $459,758 | 0.09% |
| 87 | BOSTON SCIENTIFIC CORP | BSX | 4,608 | $439,373 | 0.09% |
| 88 | ISHARES TR | 464288125 | 5,749 | $432,583 | 0.08% |
| 89 | ISHARES TR | 464287465 | 4,425 | $424,933 | 0.08% |
| 90 | INTERCONTINENTAL EXCHANGE IN | 45866F104 | 2,594 | $420,124 | 0.08% |
| 91 | AURA BIOSCIENCES INC | AURA | 75,864 | $413,459 | 0.08% |
| 92 | TAKE-TWO INTERACTIVE SOFTWAR | TTWO | 1,596 | $408,624 | 0.08% |
| 93 | FIDELITY COVINGTON TRUST | 316092840 | 7,097 | $402,329 | 0.08% |
| 94 | CROWN HLDGS INC | CCK | 3,807 | $392,007 | 0.08% |
| 95 | APOLLO GLOBAL MGMT INC | 03769M106 | 2,654 | $384,193 | 0.07% |
| 96 | SPOTIFY TECHNOLOGY S A | SPOT | 649 | $376,881 | 0.07% |
| 97 | FIDELITY MERRIMACK STR TR | 316188309 | 7,942 | $367,770 | 0.07% |
| 98 | INTUITIVE SURGICAL INC | ISRG | 623 | $352,842 | 0.07% |
| 99 | BARRICK MNG CORP | 06849F108 | 8,025 | $349,489 | 0.07% |
| 100 | CANNAE HLDGS INC | CNNE | 22,000 | $346,060 | 0.07% |
| 101 | CRH PLC | CRH | 2,725 | $340,080 | 0.07% |
| 102 | BROOKFIELD CORP | 11271J107 | 7,377 | $338,531 | 0.07% |
| 103 | TRANSUNION | TRU | 3,946 | $338,370 | 0.07% |
| 104 | TESLA INC | TSLA | 747 | $335,941 | 0.07% |
| 105 | ISHARES TR | 464287408 | 1,568 | $332,526 | 0.06% |
| 106 | UNITEDHEALTH GROUP INC | UNH | 989 | $326,479 | 0.06% |
| 107 | MCKESSON CORP | MCK | 397 | $326,068 | 0.06% |
| 108 | HOWMET AEROSPACE INC | HWM | 1,477 | $302,815 | 0.06% |
| 109 | AMEREN CORP | AEE | 2,919 | $291,491 | 0.06% |
| 110 | CONOCOPHILLIPS | COP | 3,072 | $287,570 | 0.06% |
| 111 | ISHARES BITCOIN TRUST ETF | IBIT | 5,767 | $286,332 | 0.06% |
| 112 | VANECK ETF TRUST | 92189F791 | 2,509 | $285,474 | 0.06% |
| 113 | THERMO FISHER SCIENTIFIC INC | TMO | 482 | $279,502 | 0.05% |
| 114 | CENCORA INC | COR | 818 | $276,280 | 0.05% |
| 115 | ISHARES TR | 46432F339 | 1,371 | $272,308 | 0.05% |
| 116 | SERVICENOW INC | NOW | 1,755 | $268,848 | 0.05% |
| 117 | DANAHER CORPORATION | 235851102 | 1,149 | $263,397 | 0.05% |
| 118 | KRANESHARES TRUST | 500767553 | 15,540 | $261,227 | 0.05% |
| 119 | CNX RES CORP | CNX | 7,077 | $260,221 | 0.05% |
| 120 | HILTON WORLDWIDE HLDGS INC | HLT | 893 | $256,514 | 0.05% |
| 121 | CORNING INC | GLW | 2,925 | $256,113 | 0.05% |
| 122 | NORTHROP GRUMMAN CORP | NOC | 446 | $254,314 | 0.05% |
| 123 | BGC GROUP INC | BGC | 28,378 | $253,416 | 0.05% |
| 124 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 825 | $251,367 | 0.05% |
| 125 | MSCI INC | MSCI | 429 | $246,130 | 0.05% |
| 126 | ARAMARK | ARMK | 6,655 | $245,303 | 0.05% |
| 127 | GARTNER INC | IT | 955 | $240,927 | 0.05% |
| 128 | SUBURBAN PROPANE PARTNERS L | SPH | 12,614 | $233,864 | 0.05% |
| 129 | DIGITAL RLTY TR INC | 253868103 | 1,470 | $229,217 | 0.04% |
| 130 | HALLADOR ENERGY COMPANY | HNRG | 11,777 | $224,234 | 0.04% |
| 131 | SHERWIN WILLIAMS CO | SHW | 691 | $223,905 | 0.04% |
| 132 | CARDINAL HEALTH INC | CAH | 1,065 | $218,858 | 0.04% |
| 133 | NUCOR CORP | NUE | 1,321 | $216,208 | 0.04% |
| 134 | VANGUARD INDEX FDS | 922908744 | 1,125 | $214,864 | 0.04% |
| 135 | ALIGHT INC | ALIT | 110,000 | $214,500 | 0.04% |
| 136 | BERKSHIRE HATHAWAY INC DEL | BRK-A | 423 | $212,621 | 0.04% |
| 137 | ATLANTA BRAVES HLDGS INC | BATRB | 5,000 | $212,450 | 0.04% |
| 138 | ISHARES TR | 46429B598 | 3,915 | $211,606 | 0.04% |
| 139 | DIAGEO PLC | DGEAF | 2,436 | $210,154 | 0.04% |
| 140 | DIMENSIONAL ETF TRUST | 25434V708 | 5,250 | $207,848 | 0.04% |
| 141 | FORTINET INC | FTNT | 2,594 | $205,990 | 0.04% |
| 142 | REPUBLIC SVCS INC | 760759100 | 956 | $202,605 | 0.04% |
| 143 | AES CORP | AES | 12,699 | $182,104 | 0.04% |
| 144 | PROCAP ACQUISITION CORP | PCAPW | 14,038 | $143,749 | 0.03% |
| 145 | BLACKROCK MUNIHOLDINGS FD IN | BLK | 12,038 | $141,330 | 0.03% |
| 146 | WESTERN ASSET MANAGED MUNS F | 95766M105 | 13,513 | $141,071 | 0.03% |
| 147 | BLACKROCK MUNIHLDNGS CALI QL | BLK | 13,206 | $139,984 | 0.03% |
| 148 | GOLUB CAP BDC INC | 38173M102 | 10,300 | $139,771 | 0.03% |
| 149 | BLACKROCK MUNIHLDGS NJ QLTY | BLK | 11,741 | $139,721 | 0.03% |
| 150 | NUVEEN NEW YORK AMT QLT MUNI | NU | 13,836 | $139,608 | 0.03% |
| 151 | BLACKROCK MUNIYIELD QUALITY | BLK | 12,842 | $139,593 | 0.03% |
| 152 | BLACKROCK MUNIYILD QULT FD I | BLK | 12,343 | $139,479 | 0.03% |
| 153 | TABOOLA.COM LTD | TBLAW | 30,000 | $138,300 | 0.03% |
| 154 | PIMCO MUN INCOME FD II | 72200W106 | 18,185 | $137,836 | 0.03% |
| 155 | P10 INC | 69376K106 | 13,551 | $132,932 | 0.03% |
| 156 | AGNC INVT CORP | 00123Q104 | 10,800 | $117,072 | 0.02% |
| 157 | BLACKROCK MUNIVEST FD INC | BLK | 12,751 | $88,365 | 0.02% |