# EDGAR Filing Document

**Accession Number:** 0002054108
**File Stem:** 0001951757-26-000858
**Filing Date:** 2026-5
**Character Count:** 18658
**Document Hash:** 7a03d06fd7007113e3c297c925e54948
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001951757-26-000858.hdr.sgml**: 20260514

**ACCESSION NUMBER**: 0001951757-26-000858

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260514

**DATE AS OF CHANGE**: 20260514

**EFFECTIVENESS DATE**: 20260514

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Permanent Capital Management, LP
- **CENTRAL INDEX KEY:** 0002054108

**ORGANIZATION NAME:**
- **EIN:** 931998660
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-24804
- **FILM NUMBER:** 26977035

**BUSINESS ADDRESS:**
- **STREET 1:** 217 N. SANGAMON STREET
- **STREET 2:** 10TH FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60607
- **BUSINESS PHONE:** 312-961-8251

**MAIL ADDRESS:**
- **STREET 1:** 217 N. SANGAMON STREET
- **STREET 2:** 10TH FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60607

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Permanent Capital Management LP<br>**Address:** 217 N. SANGAMON STREET<br>10TH FLOOR<br>CHICAGO, IL 60607

**Form 13F File Number:** 028-24804

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Ivaldo Basso<br>**Title:** Chief Compliance Officer<br>**Phone:** 7733434697

**Signature, Place, and Date of Signing:**

Ivaldo Basso  Chicago, IL  05-14-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 0

**Form 13F Information Table Entry Total:** 155

**Form 13F Information Table Value Total:** $643012543

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

**NONE**

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AGNC INVT CORP | COM | 00123Q104 |  | 124545 | 11180 | SH |  | SOLE |  | 0 | 0 | 11180 |
| AES CORP | COM | 00130H105 |  | 169282 | 11715 | SH |  | SOLE |  | 0 | 0 | 11715 |
| ABBVIE INC | COM | 00287Y109 |  | 771509 | 3622 | SH |  | SOLE |  | 0 | 0 | 3622 |
| ACACIA RESH CORP | ACACIA TCH COM | 003881307 |  | 152400 | 30000 | SH |  | SOLE |  | 0 | 0 | 30000 |
| ALASKA AIR GROUP INC | COM | 011659109 |  | 697527 | 17835 | SH |  | SOLE |  | 0 | 0 | 17835 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 2295459 | 6010 | SH |  | SOLE |  | 0 | 0 | 6010 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 3904950 | 10148 | SH |  | SOLE |  | 0 | 0 | 10148 |
| AMAZON COM INC | COM | 023135106 |  | 4419080 | 16672 | SH |  | SOLE |  | 0 | 0 | 16672 |
| AMEREN CORP | COM | 023608102 |  | 334472 | 2943 | SH |  | SOLE |  | 0 | 0 | 2943 |
| AMERICAN INTL GROUP INC | COM NEW | 026874784 |  | 962676 | 12870 | SH |  | SOLE |  | 0 | 0 | 12870 |
| APPLE INC | COM | 037833100 |  | 3926706 | 14471 | SH |  | SOLE |  | 0 | 0 | 14471 |
| APPLE HOSPITALITY REIT INC | COM NEW | 03784Y200 |  | 139972 | 10330 | SH |  | SOLE |  | 0 | 0 | 10330 |
| APPLIED MATLS INC | COM | 038222105 |  | 486406 | 1233 | SH |  | SOLE |  | 0 | 0 | 1233 |
| ARAMARK | COM | 03852U106 |  | 303884 | 6651 | SH |  | SOLE |  | 0 | 0 | 6651 |
| ATLANTA BRAVES HLDGS INC | COM SER A | 047726104 |  | 264600 | 5000 | SH |  | SOLE |  | 0 | 0 | 5000 |
| AURA BIOSCIENCES INC | COM | 05153U107 |  | 439701 | 62369 | SH |  | SOLE |  | 0 | 0 | 62369 |
| AURORA INNOVATION INC | CLASS A COM | 051774107 |  | 7880511 | 1340223 | SH |  | SOLE |  | 0 | 0 | 1340223 |
| BP PLC | SPONSORED ADR | 055622104 |  | 873015 | 18426 | SH |  | SOLE |  | 0 | 0 | 18426 |
| BWX TECHNOLOGIES INC | COM | 05605H100 |  | 852144 | 3938 | SH |  | SOLE |  | 0 | 0 | 3938 |
| BAKER HUGHES COMPANY | CL A | 05722G100 |  | 264398 | 3795 | SH |  | SOLE |  | 0 | 0 | 3795 |
| BANK AMERICA CORP | COM | 060505104 |  | 637724 | 11929 | SH |  | SOLE |  | 0 | 0 | 11929 |
| BANK NEW YORK MELLON CORP | COM | 064058100 |  | 2805111 | 20794 | SH |  | SOLE |  | 0 | 0 | 20794 |
| BECTON DICKINSON  CO | COM | 075887109 |  | 699743 | 4695 | SH |  | SOLE |  | 0 | 0 | 4695 |
| BERKSHIRE HATHAWAY INC DEL | CL B NEW | 084670702 |  | 569267 | 1202 | SH |  | SOLE |  | 0 | 0 | 1202 |
| BGC GROUP INC | CL A | 088929104 |  | 318685 | 28378 | SH |  | SOLE |  | 0 | 0 | 28378 |
| BOEING CO | COM | 097023105 |  | 920701 | 4020 | SH |  | SOLE |  | 0 | 0 | 4020 |
| BROADCOM INC | COM | 11135F101 |  | 1635491 | 3918 | SH |  | SOLE |  | 0 | 0 | 3918 |
| BROOKFIELD CORP | CL A LTD VT SH | 11271J107 |  | 262734 | 5823 | SH |  | SOLE |  | 0 | 0 | 5823 |
| BRUNSWICK CORP | COM | 117043109 |  | 852499 | 10730 | SH |  | SOLE |  | 0 | 0 | 10730 |
| BUTTERFLY NETWORK INC | COM CL A | 124155102 |  | 359250 | 75000 | SH |  | SOLE |  | 0 | 0 | 75000 |
| CNX RES CORP | COM | 12653C108 |  | 275366 | 7077 | SH |  | SOLE |  | 0 | 0 | 7077 |
| CADIZ INC | COM NEW | 127537207 |  | 2052502 | 474019 | SH |  | SOLE |  | 0 | 0 | 474019 |
| CANNAE HLDGS INC | COM | 13765N107 |  | 324240 | 24000 | SH |  | SOLE |  | 0 | 0 | 24000 |
| CAPITAL ONE FINL CORP | COM | 14040H105 |  | 1312127 | 6859 | SH |  | SOLE |  | 0 | 0 | 6859 |
| CARDINAL HEALTH INC | COM | 14149Y108 |  | 419128 | 2173 | SH |  | SOLE |  | 0 | 0 | 2173 |
| CATERPILLAR INC | COM | 149123101 |  | 5008273 | 5617 | SH |  | SOLE |  | 0 | 0 | 5617 |
| EXPAND ENERGY CORPORATION | COM | 165167735 |  | 2287751 | 22396 | SH |  | SOLE |  | 0 | 0 | 22396 |
| CITIGROUP INC | COM NEW | 172967424 |  | 788357 | 6160 | SH |  | SOLE |  | 0 | 0 | 6160 |
| COCA COLA CO | COM | 191216100 |  | 965834 | 12263 | SH |  | SOLE |  | 0 | 0 | 12263 |
| CONOCOPHILLIPS | COM | 20825C104 |  | 394698 | 3138 | SH |  | SOLE |  | 0 | 0 | 3138 |
| CONSTELLATION BRANDS INC | CL A | 21036P108 |  | 423971 | 2690 | SH |  | SOLE |  | 0 | 0 | 2690 |
| CORNING INC | COM | 219350105 |  | 289227 | 1761 | SH |  | SOLE |  | 0 | 0 | 1761 |
| COSTCO WHOLESALE CORPORATION | COM | 22160K105 |  | 920179 | 907 | SH |  | SOLE |  | 0 | 0 | 907 |
| CROWN HLDGS INC | COM | 228368106 |  | 374266 | 3807 | SH |  | SOLE |  | 0 | 0 | 3807 |
| DEERE  CO | COM | 244199105 |  | 875391 | 1480 | SH |  | SOLE |  | 0 | 0 | 1480 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 201959 | 890 | SH |  | SOLE |  | 0 | 0 | 890 |
| DIGITAL RLTY TR INC | COM | 253868103 |  | 368926 | 1836 | SH |  | SOLE |  | 0 | 0 | 1836 |
| DIMENSIONAL ETF TRUST | US CORE EQUITY 2 | 25434V708 |  | 222652 | 5250 | SH |  | SOLE |  | 0 | 0 | 5250 |
| EXXON MOBIL CORP | COM | 30231G102 |  | 800510 | 5187 | SH |  | SOLE |  | 0 | 0 | 5187 |
| META PLATFORMS INC | CL A | 30303M102 |  | 1413512 | 2310 | SH |  | SOLE |  | 0 | 0 | 2310 |
| FERMI INC | COM | 314911108 |  | 307800 | 60000 | SH |  | SOLE |  | 0 | 0 | 60000 |
| FIDELITY COVINGTON TRUST | HIGH DIVID ETF | 316092840 |  | 419220 | 7097 | SH |  | SOLE |  | 0 | 0 | 7097 |
| FIDELITY MERRIMACK STR TR | TOTAL BD ETF | 316188309 |  | 361838 | 7942 | SH |  | SOLE |  | 0 | 0 | 7942 |
| FORTINET INC | COM | 34959E109 |  | 222410 | 2638 | SH |  | SOLE |  | 0 | 0 | 2638 |
| GE VERNOVA INC | COM | 36828A101 |  | 223193 | 206 | SH |  | SOLE |  | 0 | 0 | 206 |
| GENERAL MTRS CO | COM | 37045V100 |  | 972658 | 12650 | SH |  | SOLE |  | 0 | 0 | 12650 |
| GOLUB CAP BDC INC | COM | 38173M102 |  | 160674 | 11728 | SH |  | SOLE |  | 0 | 0 | 11728 |
| HALLADOR ENERGY COMPANY | COM | 40609P105 |  | 182897 | 11777 | SH |  | SOLE |  | 0 | 0 | 11777 |
| HEWLETT PACKARD ENTERPRISE C | COM | 42824C109 |  | 270208 | 9392 | SH |  | SOLE |  | 0 | 0 | 9392 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 296524 | 915 | SH |  | SOLE |  | 0 | 0 | 915 |
| HOWMET AEROSPACE INC | COM | 443201108 |  | 368206 | 1515 | SH |  | SOLE |  | 0 | 0 | 1515 |
| IAC INC | COM NEW | 44891N208 |  | 376309 | 8445 | SH |  | SOLE |  | 0 | 0 | 8445 |
| INTEL CORP | COM | 458140100 |  | 343340 | 3634 | SH |  | SOLE |  | 0 | 0 | 3634 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 |  | 328176 | 4128 | SH |  | SOLE |  | 0 | 0 | 4128 |
| INTERCONTINENTAL EXCHANGE IN | COM | 45866F104 |  | 344162 | 2177 | SH |  | SOLE |  | 0 | 0 | 2177 |
| INTERNATIONAL BUSINESS MACHS | COM | 459200101 |  | 424772 | 1839 | SH |  | SOLE |  | 0 | 0 | 1839 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 950194 | 1423 | SH |  | SOLE |  | 0 | 0 | 1423 |
| INTUITIVE SURGICAL INC | COM NEW | 46120E602 |  | 293328 | 641 | SH |  | SOLE |  | 0 | 0 | 641 |
| INVESCO EXCHANGE TRADED FD T | S EQL WGT | 46137V357 |  | 22882494 | 112478 | SH |  | SOLE |  | 0 | 0 | 112478 |
| INVESCO EXCH TRADED FD TR II | KBW BK ETF | 46138E628 |  | 762216 | 8728 | SH |  | SOLE |  | 0 | 0 | 8728 |
| ISHARES TR | CHINA LG-CAP ETF | 464287184 |  | 297999 | 8100 | SH |  | SOLE |  | 0 | 0 | 8100 |
| ISHARES TR | CORE US AGGBD ET | 464287226 |  | 64159794 | 647425 | SH |  | SOLE |  | 0 | 0 | 647425 |
| ISHARES TR | S 500 VAL ETF | 464287408 |  | 346912 | 1551 | SH |  | SOLE |  | 0 | 0 | 1551 |
| ISHARES TR | MSCI EAFE ETF | 464287465 |  | 680223 | 6648 | SH |  | SOLE |  | 0 | 0 | 6648 |
| ISHARES TR | RUS 1000 GRW ETF | 464287614 |  | 4183868 | 35079 | SH |  | SOLE |  | 0 | 0 | 35079 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 1168030 | 4202 | SH |  | SOLE |  | 0 | 0 | 4202 |
| ISHARES TR | 3YRTB ETF | 464288125 |  | 437010 | 5749 | SH |  | SOLE |  | 0 | 0 | 5749 |
| ISHARES TR | MSCI ACWI ETF | 464288257 |  | 8313787 | 54862 | SH |  | SOLE |  | 0 | 0 | 54862 |
| ISHARES TR | MSCI INDIA ETF | 46429B598 |  | 234251 | 4740 | SH |  | SOLE |  | 0 | 0 | 4740 |
| ISHARES TR | MSCI USA QLT FCT | 46432F339 |  | 283725 | 1369 | SH |  | SOLE |  | 0 | 0 | 1369 |
| ISHARES BITCOIN TRUST ETF | SHS BEN INT | 46438F101 |  | 309391 | 7142 | SH |  | SOLE |  | 0 | 0 | 7142 |
| JPMORGAN CHASE  CO | COM | 46625H100 |  | 989097 | 3158 | SH |  | SOLE |  | 0 | 0 | 3158 |
| JOHNSON  JOHNSON | COM | 478160104 |  | 1330372 | 5788 | SH |  | SOLE |  | 0 | 0 | 5788 |
| KIMBERLY-CLARK CORP | COM | 494368103 |  | 2389880 | 24280 | SH |  | SOLE |  | 0 | 0 | 24280 |
| LAM RESEARCH CORP | COM NEW | 512807306 |  | 265596 | 1030 | SH |  | SOLE |  | 0 | 0 | 1030 |
| LIFE360 INC | COM | 532206109 |  | 617394 | 14328 | SH |  | SOLE |  | 0 | 0 | 14328 |
| ELI LILLY  CO | COM | 532457108 |  | 507488 | 543 | SH |  | SOLE |  | 0 | 0 | 543 |
| LIVE NATION ENTERTAINMENT IN | COM | 538034109 |  | 251914 | 1595 | SH |  | SOLE |  | 0 | 0 | 1595 |
| LOEWS CORP | COM | 540424108 |  | 1740388 | 15455 | SH |  | SOLE |  | 0 | 0 | 15455 |
| MGM RESORTS INTERNATIONAL | COM | 552953101 |  | 1248611 | 32065 | SH |  | SOLE |  | 0 | 0 | 32065 |
| MSCI INC | COM | 55354G100 |  | 255489 | 432 | SH |  | SOLE |  | 0 | 0 | 432 |
| MADISON SQUARE GRDN SPRT COR | CL A | 55825T103 |  | 221914 | 648 | SH |  | SOLE |  | 0 | 0 | 648 |
| MARINEMAX INC | COM | 567908108 |  | 916145 | 31877 | SH |  | SOLE |  | 0 | 0 | 31877 |
| MARSH  MCLENNAN COS INC | COM | 571748102 |  | 548320 | 3252 | SH |  | SOLE |  | 0 | 0 | 3252 |
| MCDONALDS CORP | COM | 580135101 |  | 449070 | 1530 | SH |  | SOLE |  | 0 | 0 | 1530 |
| MICROSOFT CORP | COM | 594918104 |  | 29632046 | 72667 | SH |  | SOLE |  | 0 | 0 | 72667 |
| NEWS CORP NEW | CL A | 65249B109 |  | 693822 | 26361 | SH |  | SOLE |  | 0 | 0 | 26361 |
| NEXTERA ENERGY INC | COM | 65339F101 |  | 764443 | 7810 | SH |  | SOLE |  | 0 | 0 | 7810 |
| NORTHERN TR CORP | COM | 665859104 |  | 999870 | 6011 | SH |  | SOLE |  | 0 | 0 | 6011 |
| NORTHROP GRUMMAN CORP | COM | 666807102 |  | 261925 | 452 | SH |  | SOLE |  | 0 | 0 | 452 |
| NUCOR CORP | COM | 670346105 |  | 209582 | 928 | SH |  | SOLE |  | 0 | 0 | 928 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 4596895 | 23034 | SH |  | SOLE |  | 0 | 0 | 23034 |
| O-I GLASS INC | COM | 67098H104 |  | 723452 | 79413 | SH |  | SOLE |  | 0 | 0 | 79413 |
| PG CORP | COM | 69331C108 |  | 1113906 | 67022 | SH |  | SOLE |  | 0 | 0 | 67022 |
| RIDGEPOST CAP INC | CL A COM | 69376K106 |  | 107990 | 13618 | SH |  | SOLE |  | 0 | 0 | 13618 |
| PRIMO BRANDS CORPORATION | CLASS A COM SHS | 741623102 |  | 625156 | 30675 | SH |  | SOLE |  | 0 | 0 | 30675 |
| PROGRESSIVE CORP | COM | 743315103 |  | 581297 | 2888 | SH |  | SOLE |  | 0 | 0 | 2888 |
| PROLOGIS INC. | COM | 74340W103 |  | 836782 | 5892 | SH |  | SOLE |  | 0 | 0 | 5892 |
| QUEST DIAGNOSTICS INC | COM | 74834L100 |  | 766313 | 3946 | SH |  | SOLE |  | 0 | 0 | 3946 |
| REDDIT INC | CL A | 75734B100 |  | 356886 | 2424 | SH |  | SOLE |  | 0 | 0 | 2424 |
| REGAL REXNORD CORPORATION | COM | 758750103 |  | 320395 | 1490 | SH |  | SOLE |  | 0 | 0 | 1490 |
| REPUBLIC SVCS INC | COM | 760759100 |  | 298348 | 1426 | SH |  | SOLE |  | 0 | 0 | 1426 |
| S GLOBAL INC | COM | 78409V104 |  | 466591 | 1082 | SH |  | SOLE |  | 0 | 0 | 1082 |
| SL GREEN RLTY CORP | COM | 78440X887 |  | 662953 | 15632 | SH |  | SOLE |  | 0 | 0 | 15632 |
| STATE STR SPDR S 500 ETF T | TR UNIT | 78462F103 |  | 3007592 | 4185 | SH |  | SOLE |  | 0 | 0 | 4185 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 3455795 | 8157 | SH |  | SOLE |  | 0 | 0 | 8157 |
| SPDR SERIES TRUST | STATE STREET SPD | 78464A664 |  | 7334664 | 281994 | SH |  | SOLE |  | 0 | 0 | 281994 |
| SERVICENOW INC | COM | 81762P102 |  | 898996 | 10180 | SH |  | SOLE |  | 0 | 0 | 10180 |
| ARS PHARMACEUTICALS INC | COM | 82835W108 |  | 290050 | 35115 | SH |  | SOLE |  | 0 | 0 | 35115 |
| SPROTT ASSET MANAGEMENT LP | PHYSICAL SILVER | 85207K107 |  | 398844 | 16723 | SH |  | SOLE |  | 0 | 0 | 16723 |
| SUBURBAN PROPANE PARTNERS L | UNIT LTD PARTN | 864482104 |  | 364091 | 18114 | SH |  | SOLE |  | 0 | 0 | 18114 |
| TAIWAN SEMICONDUCTOR MANUFAC | SPONSORED ADS | 874039100 |  | 382594 | 966 | SH |  | SOLE |  | 0 | 0 | 966 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 |  | 343299 | 1606 | SH |  | SOLE |  | 0 | 0 | 1606 |
| TARGA RES CORP | COM | 87612G101 |  | 277271 | 1061 | SH |  | SOLE |  | 0 | 0 | 1061 |
| TECK RESOURCES LTD | CL B | 878742204 |  | 1257764 | 21526 | SH |  | SOLE |  | 0 | 0 | 21526 |
| TESLA INC | COM | 88160R101 |  | 336979 | 883 | SH |  | SOLE |  | 0 | 0 | 883 |
| THERMO FISHER SCIENTIFIC INC | COM | 883556102 |  | 244749 | 511 | SH |  | SOLE |  | 0 | 0 | 511 |
| UNILEVER PLC | SPON ADR NEW | 904767803 |  | 1040792 | 17647 | SH |  | SOLE |  | 0 | 0 | 17647 |
| UNION PAC CORP | COM | 907818108 |  | 2132395 | 7913 | SH |  | SOLE |  | 0 | 0 | 7913 |
| UNITED STS COMMODITY INDEX F | CM REP COPP FD | 911718104 |  | 203837 | 5580 | SH |  | SOLE |  | 0 | 0 | 5580 |
| UNITEDHEALTH GROUP INC | COM | 91324P102 |  | 257113 | 694 | SH |  | SOLE |  | 0 | 0 | 694 |
| VAIL RESORTS INC | COM | 91879Q109 |  | 363989 | 2862 | SH |  | SOLE |  | 0 | 0 | 2862 |
| VANECK ETF TRUST | JUNIOR GOLD MINE | 92189F791 |  | 291897 | 2509 | SH |  | SOLE |  | 0 | 0 | 2509 |
| VANGUARD STAR FDS | VG TL INTL STK F | 921909768 |  | 665477 | 8012 | SH |  | SOLE |  | 0 | 0 | 8012 |
| VANGUARD TAX-MANAGED FDS | VAN FTSE DEV MKT | 921943858 |  | 46003369 | 668654 | SH |  | SOLE |  | 0 | 0 | 668654 |
| VANGUARD INTL EQUITY INDEX F | TT WRLD ST ETF | 922042742 |  | 97281065 | 643393 | SH |  | SOLE |  | 0 | 0 | 643393 |
| VANGUARD INTL EQUITY INDEX F | FTSE EMR MKT ETF | 922042858 |  | 17226433 | 292320 | SH |  | SOLE |  | 0 | 0 | 292320 |
| VANGUARD SCOTTSDALE FDS | INTER TERM TREAS | 92206C706 |  | 35327234 | 595838 | SH |  | SOLE |  | 0 | 0 | 595838 |
| VANGUARD INDEX FDS | S 500 ETF SHS | 922908363 |  | 162909846 | 246616 | SH |  | SOLE |  | 0 | 0 | 246616 |
| VANGUARD INDEX FDS | VALUE ETF | 922908744 |  | 232628 | 1125 | SH |  | SOLE |  | 0 | 0 | 1125 |
| VANGUARD INDEX FDS | SMALL CP ETF | 922908751 |  | 3950846 | 13892 | SH |  | SOLE |  | 0 | 0 | 13892 |
| VANGUARD INDEX FDS | TOTAL STK MKT | 922908769 |  | 7666226 | 21645 | SH |  | SOLE |  | 0 | 0 | 21645 |
| VERIZON COMMUNICATIONS INC | COM | 92343V104 |  | 736351 | 15323 | SH |  | SOLE |  | 0 | 0 | 15323 |
| VISA INC | COM CL A | 92826C839 |  | 757313 | 2296 | SH |  | SOLE |  | 0 | 0 | 2296 |
| WALMART INC | COM | 931142103 |  | 1369170 | 10378 | SH |  | SOLE |  | 0 | 0 | 10378 |
| WATERS CORP | COM | 941848103 |  | 423645 | 1370 | SH |  | SOLE |  | 0 | 0 | 1370 |
| WISDOMTREE TR | FLOATNG RAT TREA | 97717Y527 |  | 13839001 | 274856 | SH |  | SOLE |  | 0 | 0 | 274856 |
| XPO INC | COM | 983793100 |  | 351327 | 1596 | SH |  | SOLE |  | 0 | 0 | 1596 |
| AXIS CAP HLDGS LTD | SHS | G0692U109 |  | 1009422 | 10053 | SH |  | SOLE |  | 0 | 0 | 10053 |
| CRH PLC | ORD | G25508105 |  | 327431 | 2765 | SH |  | SOLE |  | 0 | 0 | 2765 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 230016 | 467 | SH |  | SOLE |  | 0 | 0 | 467 |
| GOLAR LNG LTD | SHS | G9456A100 |  | 1569777 | 28796 | SH |  | SOLE |  | 0 | 0 | 28796 |
| UBS GROUP AG | SHS | H42097107 |  | 2832854 | 64477 | SH |  | SOLE |  | 0 | 0 | 64477 |
| SPOTIFY TECHNOLOGY S A | SHS | L8681T102 |  | 239351 | 536 | SH |  | SOLE |  | 0 | 0 | 536 |
| JBS N.V. | CL A SHS | N4732M103 |  | 481800 | 30000 | SH |  | SOLE |  | 0 | 0 | 30000 |

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