Permanent Capital Management, LP

Q4 2025 13F-HR Holdings

Location
Chicago, IL
Holdings as of
12/31/2025
Date filed
1/7/2026
Form type
13F-HR
Num holdings
157
Total value ($000)
$513,290
Net value change ($000)
-21,652 (-4.0%)
New positions
23
Sold out positions
17
Turnover %
3.3%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/17/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
VOO 4,531 3.0%
VEA 2,372 6.0%
BA 1,553 NEW
UL 1,152 NEW
PGR 1,079 NEW
BDX 909 NEW
GOOGL 690 28.5%
SEM 668 NEW
RSP 668 1.6%
CAT 638 24.9%
Top Reduces (Value $000, Stocks/ETFs)
VB -9,839 -59.1%
AUR -8,300 -61.7%
VGIT -6,684 -15.9%
USFR -3,521 -16.7%
KCCA -2,799 -91.5%
MSFT -2,596 -6.9%
LIF -1,371 -59.9%
Unilever PLC -1,176 -100.0%
MTN -1,091 -100.0%
CI -877 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type