Q3 2025 · 13F-HR
Permanent Capital Management, LPholdings as filed
Filed 2025-10-17 · accession 0001951757-25-001167
$534.9M
Reported value
151
Positions
2025-09-30
Period end
The Brief · Permanent Capital Management, LP · Q3 2025
AI · grounded in 13F
Permanent Capital Management, LP established a new position in VOO valued at $149.4M. The fund also initiated new stakes in VGIT for $42.1M and RSP for $41.1M. Additional new positions include VEA at $39.3M and MSFT at $37.5M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 922908363 | VOO | VANGUARD INDEX FDS | $149.4M | 27.9% | 243,343 | Common | NONE |
| 92206C706 | VGIT | VANGUARD SCOTTSDALE FDS | $42.1M | 7.86% | 700,835 | Common | NONE |
| 46137V357 | RSP | INVESCO EXCHANGE TRADED FD T | $41.1M | 7.68% | 216,711 | Common | NONE |
| 921943858 | VEA | VANGUARD TAX-MANAGED FDS | $39.3M | 7.36% | 656,678 | Common | NONE |
| 594918104 | MSFT | MICROSOFT CORP | $37.5M | 7.01% | 72,416 | Common | NONE |
| 97717Y527 | USFR | WISDOMTREE TR | $21.0M | 3.93% | 418,512 | Common | NONE |
| 922908751 | VB | VANGUARD INDEX FDS | $16.7M | 3.11% | 65,293 | Common | NONE |
| 922042858 | VWO | VANGUARD INTL EQUITY INDEX F | $15.5M | 2.90% | 286,715 | Common | NONE |
| 464287226 | AGG | ISHARES TR | $13.7M | 2.55% | 136,297 | Common | NONE |
| 051774107 | AUR | AURORA INNOVATION INC | $13.4M | 2.51% | 2,494,540 | Common | NONE |
| 922908769 | VTI | VANGUARD INDEX FDS | $8.2M | 1.54% | 25,010 | Common | NONE |
| 464288257 | ACWI | ISHARES TR | $7.6M | 1.42% | 54,862 | Common | NONE |
| 78464A664 | SPTL | SPDR SERIES TRUST | $7.3M | 1.36% | 269,653 | Common | NONE |
| 464287614 | IWF | ISHARES TR | $4.1M | 0.77% | 8,753 | Common | NONE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $4.0M | 0.75% | 21,435 | Common | NONE |
| 78462F103 | SPY | SPDR S&P 500 ETF TR | $3.7M | 0.68% | 5,482 | Common | NONE |
| 78463V107 | GLD | SPDR GOLD TR | $3.6M | 0.67% | 10,032 | Common | NONE |
| 037833100 | AAPL | APPLE INC | $3.5M | 0.66% | 13,939 | Common | NONE |
| 500767553 | KCCA | KRANESHARES TRUST | $3.1M | 0.57% | 179,240 | Common | NONE |
| 023135106 | AMZN | AMAZON COM INC | $2.9M | 0.55% | 13,410 | Common | NONE |
| H42097107 | UBS | UBS GROUP AG | $2.8M | 0.53% | 69,327 | Common | NONE |
| 14040H105 | COF | CAPITAL ONE FINL CORP | $2.8M | 0.52% | 12,960 | Common | NONE |
| 165167735 | EXE | EXPAND ENERGY CORPORATION | $2.6M | 0.48% | 24,184 | Common | NONE |
| 149123101 | CAT | CATERPILLAR INC | $2.6M | 0.48% | 5,369 | Common | NONE |
| 02079K305 | GOOGL | ALPHABET INC | $2.4M | 0.45% | 9,948 | Common | NONE |
| 907818108 | UNP | UNION PAC CORP | $2.4M | 0.45% | 10,090 | Common | NONE |
| 127537207 | CDZI | CADIZ INC | $2.3M | 0.44% | 496,519 | Common | NONE |
| 532206109 | LIF | LIFE360 INC | $2.3M | 0.43% | 21,539 | Common | NONE |
| 064058100 | BK | BANK NEW YORK MELLON CORP | $2.3M | 0.42% | 20,760 | Common | NONE |
| 67098H104 | OI | O-I GLASS INC | $2.2M | 0.41% | 167,295 | Common | NONE |
| G9456A100 | GLNG | GOLAR LNG LTD | $2.1M | 0.40% | 52,303 | Common | NONE |
| 922042742 | VT | VANGUARD INTL EQUITY INDEX F | $2.0M | 0.37% | 14,345 | Common | NONE |
| 44891N208 | IAC | IAC INC | $1.7M | 0.32% | 50,827 | Common | NONE |
| 30303M102 | META | META PLATFORMS INC | $1.6M | 0.31% | 2,229 | Common | NONE |
| 02079K107 | GOOG | ALPHABET INC | $1.6M | 0.29% | 6,397 | Common | NONE |
| 540424108 | L | LOEWS CORP | $1.6M | 0.29% | 15,445 | Common | NONE |
| 69331C108 | PCG | PG&E CORP | $1.5M | 0.28% | 99,973 | Common | NONE |
| 878742204 | TECK | TECK RESOURCES LTD | $1.4M | 0.26% | 32,270 | Common | NONE |
| 003881307 | ACTG | ACACIA RESH CORP | $1.3M | 0.25% | 405,345 | Common | NONE |
| 46090E103 | QQQ | INVESCO QQQ TR | $1.3M | 0.23% | 2,083 | Common | NONE |
| 172967424 | C | CITIGROUP INC | $1.2M | 0.23% | 12,201 | Common | NONE |
| 055622104 | BP | BP PLC | $1.2M | 0.23% | 35,490 | Common | NONE |
| N4732M103 | JBS | JBS N.V. | $1.2M | 0.23% | 81,797 | Common | NONE |
| G0692U109 | AXS | AXIS CAP HLDGS LTD | $1.2M | 0.22% | 12,355 | Common | NONE |
| 904767704 | — | UNILEVER PLC | $1.2M | 0.22% | 19,841 | Common | NONE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $1.2M | 0.22% | 3,710 | Common | NONE |
| 05605H100 | BWXT | BWX TECHNOLOGIES INC | $1.2M | 0.22% | 6,300 | Common | NONE |
| 464287655 | IWM | ISHARES TR | $1.1M | 0.21% | 4,744 | Common | NONE |
| 11135F101 | AVGO | BROADCOM INC | $1.1M | 0.21% | 3,443 | Common | NONE |
| 931142103 | WMT | WALMART INC | $1.1M | 0.21% | 10,700 | Common | NONE |
| 37045V100 | GM | GENERAL MTRS CO | $1.1M | 0.21% | 18,067 | Common | NONE |
| 91879Q109 | MTN | VAIL RESORTS INC | $1.1M | 0.20% | 7,296 | Common | NONE |
| 478160104 | JNJ | JOHNSON & JOHNSON | $1.1M | 0.20% | 5,796 | Common | NONE |
| 567908108 | HZO | MARINEMAX INC | $1.1M | 0.20% | 42,302 | Common | NONE |
| 03852U106 | ARMK | ARAMARK | $1.1M | 0.20% | 27,651 | Common | NONE |
| 026874784 | AIG | AMERICAN INTL GROUP INC | $1.0M | 0.19% | 12,826 | Common | NONE |
| 30231G102 | XOM | EXXON MOBIL CORP | $920,040 | 0.17% | 8,160 | Common | NONE |
| 05153U107 | AURA | AURA BIOSCIENCES INC | $913,212 | 0.17% | 147,769 | Common | NONE |
| 13765N107 | CNNE | CANNAE HLDGS INC | $897,190 | 0.17% | 49,000 | Common | NONE |
| 92826C839 | V | VISA INC | $876,664 | 0.16% | 2,568 | Common | NONE |
| 125523100 | CI | THE CIGNA GROUP | $876,568 | 0.16% | 3,041 | Common | NONE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $873,795 | 0.16% | 944 | Common | NONE |
| 01626W101 | ALIT | ALIGHT INC | $847,600 | 0.16% | 260,000 | Common | NONE |
| 78409V104 | SPGI | S&P GLOBAL INC | $826,434 | 0.15% | 1,698 | Common | NONE |
| 65249B109 | NWSA | NEWS CORP NEW | $812,182 | 0.15% | 26,361 | Common | NONE |
| 191216100 | KO | COCA COLA CO | $811,316 | 0.15% | 12,140 | Common | NONE |
| 665859104 | NTRS | NORTHERN TR CORP | $811,046 | 0.15% | 5,990 | Common | NONE |
| 552953101 | MGM | MGM RESORTS INTERNATIONAL | $737,911 | 0.14% | 21,290 | Common | NONE |
| 00287Y109 | ABBV | ABBVIE INC | $719,858 | 0.13% | 3,109 | Common | NONE |
| 117043109 | BC | BRUNSWICK CORP | $710,185 | 0.13% | 11,230 | Common | NONE |
| 46138E628 | KBWB | INVESCO EXCH TRADED FD TR II | $699,901 | 0.13% | 8,949 | Common | NONE |
| 92343V104 | VZ | VERIZON COMMUNICATIONS INC | $690,674 | 0.13% | 15,715 | Common | NONE |
| 92206C102 | VGSH | VANGUARD SCOTTSDALE FDS | $679,247 | 0.13% | 11,542 | Common | NONE |
| 244199105 | DE | DEERE & CO | $670,424 | 0.13% | 1,461 | Common | NONE |
| 571748102 | MRSH | MARSH & MCLENNAN COS INC | $648,927 | 0.12% | 3,220 | Common | NONE |
| 060505104 | BAC | BANK AMERICA CORP | $648,744 | 0.12% | 12,575 | Common | NONE |
| 011659109 | ALK | ALASKA AIR GROUP INC | $617,023 | 0.12% | 12,395 | Common | NONE |
| 459200101 | IBM | INTERNATIONAL BUSINESS MACHS | $609,748 | 0.11% | 2,161 | Common | NONE |
| 166764100 | CVX | CHEVRON CORP NEW | $551,901 | 0.10% | 3,554 | Common | NONE |
| 65339F101 | NEE | NEXTERA ENERGY INC | $536,885 | 0.10% | 7,112 | Common | NONE |
| 82835W108 | SPRY | ARS PHARMACEUTICALS INC | $536,077 | 0.10% | 53,341 | Common | NONE |
| 75734B100 | RDDT | REDDIT INC | $517,478 | 0.10% | 2,250 | Common | NONE |
| 60741F104 | MBLY | MOBILEYE GLOBAL INC | $508,320 | 0.10% | 36,000 | Common | NONE |
| 464288125 | ISHG | ISHARES TR | $483,819 | 0.09% | 6,351 | Common | NONE |
| 03769M106 | APO | APOLLO GLOBAL MGMT INC | $464,313 | 0.09% | 3,484 | Common | NONE |
| 45866F104 | ICE | INTERCONTINENTAL EXCHANGE IN | $434,341 | 0.08% | 2,578 | Common | NONE |
| 58155Q103 | MCK | MCKESSON CORP | $433,855 | 0.08% | 561 | Common | NONE |
| 09581B103 | OWL | BLUE OWL CAPITAL INC | $425,722 | 0.08% | 25,146 | Common | NONE |
| 464287465 | EFA | ISHARES TR | $425,020 | 0.08% | 4,552 | Common | NONE |
| 580135101 | MCD | MCDONALDS CORP | $420,584 | 0.08% | 1,384 | Common | NONE |
| L8681T102 | SPOT | SPOTIFY TECHNOLOGY S A | $400,652 | 0.07% | 574 | Common | NONE |
| 316092840 | FDVV | FIDELITY COVINGTON TRUST | $395,374 | 0.07% | 7,097 | Common | NONE |
| 866674104 | SUI | SUN CMNTYS INC | $390,120 | 0.07% | 3,000 | Common | NONE |
| 038222105 | AMAT | APPLIED MATLS INC | $386,959 | 0.07% | 1,890 | Common | NONE |
| 12653C108 | CNX | CNX RES CORP | $378,566 | 0.07% | 11,786 | Common | NONE |
| 494368103 | KMB | KIMBERLY-CLARK CORP | $376,926 | 0.07% | 3,001 | Common | NONE |
| G29183103 | ETN | EATON CORP PLC | $375,747 | 0.07% | 1,004 | Common | NONE |
| 03073E105 | COR | CENCORA INC | $370,973 | 0.07% | 1,187 | Common | NONE |
| 316188309 | FBND | FIDELITY MERRIMACK STR TR | $368,572 | 0.07% | 7,942 | Common | NONE |
| 228368106 | CCK | CROWN HLDGS INC | $367,718 | 0.07% | 3,807 | Common | NONE |
| 55354G100 | MSCI | MSCI INC | $360,873 | 0.07% | 636 | Common | NONE |
| 46438F101 | IBIT | ISHARES BITCOIN TRUST ETF | $357,045 | 0.07% | 5,493 | Common | NONE |
| 11271J107 | BN | BROOKFIELD CORP | $337,345 | 0.06% | 4,919 | Common | NONE |
| 101137107 | BSX | BOSTON SCIENTIFIC CORP | $334,969 | 0.06% | 3,431 | Common | NONE |
| 87161C501 | SYU1 | SYNOVUS FINL CORP | $321,555 | 0.06% | 6,500 | Common | NONE |
| 443201108 | HWM | HOWMET AEROSPACE INC | $318,678 | 0.06% | 1,624 | Common | NONE |
| 81762P102 | NOW | SERVICENOW INC | $318,417 | 0.06% | 346 | Common | NONE |
| 464287408 | IVE | ISHARES TR | $318,232 | 0.06% | 1,541 | Common | NONE |
| 883556102 | TMO | THERMO FISHER SCIENTIFIC INC | $312,630 | 0.06% | 644 | Common | NONE |
| 89400J107 | TRU | TRANSUNION | $309,316 | 0.06% | 3,692 | Common | NONE |
| 023608102 | AEE | AMEREN CORP | $303,015 | 0.06% | 2,903 | Common | NONE |
| 88160R101 | TSLA | TESLA INC | $299,741 | 0.06% | 674 | Common | NONE |
| 20825C104 | COP | CONOCOPHILLIPS | $287,175 | 0.05% | 3,036 | Common | NONE |
| 620076307 | MSI | MOTOROLA SOLUTIONS INC | $285,112 | 0.05% | 622 | Common | NONE |
| 46120E602 | ISRG | INTUITIVE SURGICAL INC | $274,599 | 0.05% | 614 | Common | NONE |
| 46432F339 | QUAL | ISHARES TR | $273,467 | 0.05% | 1,406 | Common | NONE |
| G25508105 | CRH | CRH PLC | $270,734 | 0.05% | 2,258 | Common | NONE |
| 666807102 | NOC | NORTHROP GRUMMAN CORP | $269,319 | 0.05% | 442 | Common | NONE |
| 235851102 | DHR | DANAHER CORPORATION | $269,076 | 0.05% | 1,355 | Common | NONE |
| 25243Q205 | DEO | DIAGEO PLC | $268,731 | 0.05% | 2,816 | Common | NONE |
| 088929104 | BGC | BGC GROUP INC | $268,456 | 0.05% | 28,378 | Common | NONE |
| 874054109 | TTWO | TAKE-TWO INTERACTIVE SOFTWAR | $263,269 | 0.05% | 1,019 | Common | NONE |
| 06849F108 | B | BARRICK MNG CORP | $262,979 | 0.05% | 8,025 | Common | NONE |
| 253868103 | DLR | DIGITAL RLTY TR INC | $253,096 | 0.05% | 1,464 | Common | NONE |
| 91324P102 | UNH | UNITEDHEALTH GROUP INC | $252,414 | 0.05% | 731 | Common | NONE |
| 366651107 | IT | GARTNER INC | $250,252 | 0.05% | 952 | Common | NONE |
| 219350105 | GLW | CORNING INC | $237,969 | 0.04% | 2,901 | Common | NONE |
| 824348106 | SHW | SHERWIN WILLIAMS CO | $237,881 | 0.04% | 687 | Common | NONE |
| 864482104 | SPH | SUBURBAN PROPANE PARTNERS L | $235,251 | 0.04% | 12,614 | Common | NONE |
| 43300A203 | HLT | HILTON WORLDWIDE HLDGS INC | $230,902 | 0.04% | 890 | Common | NONE |
| 40609P105 | HNRG | HALLADOR ENERGY COMPANY | $230,476 | 0.04% | 11,777 | Common | NONE |
| 047726104 | BATRA | ATLANTA BRAVES HLDGS INC | $227,350 | 0.04% | 5,000 | Common | NONE |
| 34959E109 | FTNT | FORTINET INC | $216,590 | 0.04% | 2,576 | Common | NONE |
| 922908744 | VTV | VANGUARD INDEX FDS | $210,862 | 0.04% | 1,125 | Common | NONE |
| 25434V708 | DFAC | DIMENSIONAL ETF TRUST | $202,492 | 0.04% | 5,250 | Common | NONE |
| 00130H105 | AES | AES CORP | $167,066 | 0.03% | 12,695 | Common | NONE |
| 72200W106 | PML | PIMCO MUN INCOME FD II | $165,063 | 0.03% | 20,764 | Common | NONE |
| G1827P106 | CEPT | CANTOR EQUITY PARTNERS II IN | $149,084 | 0.03% | 14,185 | Common | NONE |
| G7257A113 | PCAPU | PROCAP ACQUISITION CORP | $147,399 | 0.03% | 14,038 | Common | NONE |
| 69376K106 | RPC | P10 INC | $146,880 | 0.03% | 13,500 | Common | NONE |
| 67070X101 | NZF | NUVEEN MUNICIPAL CREDIT INC | $144,052 | 0.03% | 11,397 | Common | NONE |
| 46131M106 | VGM | INVESCO TR INVT GRADE MUNS | $142,277 | 0.03% | 14,059 | Common | NONE |
| 670657105 | XNEAX | NUVEEN AMT FREE QLTY MUN INC | $142,263 | 0.03% | 12,416 | Common | NONE |
| 67066V101 | NAD | NUVEEN QUALITY MUNCP INCOME | $141,408 | 0.03% | 12,024 | Common | NONE |
| 46132C107 | VMO | INVESCO MUN OPPORTUNITY TR | $140,689 | 0.03% | 14,549 | Common | NONE |
| 09253N104 | MHD | BLACKROCK MUNIHOLDINGS FD IN | $140,450 | 0.03% | 11,893 | Common | NONE |
| 09254F100 | MQY | BLACKROCK MUNIYILD QULT FD I | $139,232 | 0.03% | 11,892 | Common | NONE |
| 46131J103 | VKQ | INVESCO MUNICIPAL TRUST | $138,497 | 0.03% | 14,352 | Common | NONE |
| 00123Q104 | AGNC | AGNC INVT CORP | $107,028 | 0.02% | 10,800 | Common | NONE |
| M8744T106 | TBLA | TABOOLA.COM LTD | $102,300 | 0.02% | 30,000 | Common | NONE |
| 72200N106 | XPCQX | PIMCO CALIF MUN INCOME FD | $96,298 | 0.02% | 10,998 | Common | NONE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.