Pennsylvania Capital Management Inc.
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 22, 2025), Pennsylvania Capital Management Inc. reported 97 stock positions worth $271.3 million. Its top holding was Apple (AAPL) at 13.4% of the portfolio, followed by Microsoft (MSFT, 12.1%) and iShares Core S&P 500 ETF (IVV, 9.5%). Compared with Q4 2024, it opened 3 new positions, sold out of 4, added to 34 and reduced 50. The biggest buy was Schwab Fndmntl US LRG Co. ETF (FNDX, shares +94%) and the biggest sale JPMorgan Hedged Equity ETF (HELO, shares −89%).
- Most Recent 13F
- Q2 2026
- Location
- HUNTINGDON VALLEY, PA
- CIK
- 0001004140
- Portfolio Value
- $271.3M (Q1 2025)
- SEC Filing
- 0001004140-25-000003 ↗ filed Apr 22, 2025
Holdings Value
Holdings 97 stocks · $271.3M
| AAPL Apple Inc. | 13.38% | 163,476 | $36.3M | Reduce -1.0% |
| MSFT Microsoft Corp. | 12.10% | 87,460 | $32.8M | Reduce -0.9% |
| IVV iShares Core S&P 500 ETF | 9.49% | 45,831 | $25.8M | Add +3.9% |
| AMZN Amazon.com Inc. | 8.44% | 120,384 | $22.9M | Add +3.9% |
| JPIE JPMorgan Income ETF | 6.72% | 395,558 | $18.2M | Add +0.8% |
| NVDA Nvidia Corp. | 4.38% | 109,753 | $11.9M | Add +3.6% |
| TFLR T Rowe Price Floating RT ETF | 3.59% | 190,739 | $9.7M | Add +16.7% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 3.15% | 361,674 | $8.5M | Add +94.2% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 2.85% | 213,638 | $7.7M | Reduce -4.8% |
| IJH iShares Core S&P Midcap ETF | 2.55% | 118,748 | $6.9M | Add +1.5% |
| BINC iShares Flex I A ETF-Usd Inc. | 1.91% | 98,831 | $5.2M | Add +24.1% |
| SMH Vaneck Semiconductor ETF | 1.71% | 21,898 | $4.6M | Reduce -0.0% |
| GOOGL Alphabet Inc. Class A | 1.65% | 28,982 | $4.5M | Reduce -0.8% |
| VMC Vulcan Materials Co. | 1.36% | 15,791 | $3.7M | Reduce -3.0% |
| LLY Eli Lilly & Co. | 1.27% | 4,185 | $3.5M | Reduce -1.4% |
| IJR iShares Core S&P Small-Cap E | 1.12% | 29,033 | $3.0M | Add +2.3% |
| XLY SS Consumer Disc Select Sect | 1.12% | 15,327 | $3.0M | No change |
| DSI iShares ESG MSCI KLD 400 ETF | 0.99% | 26,242 | $2.7M | Reduce -2.1% |
| SCHD Schwab US DVD Equity ETF | 0.96% | 93,515 | $2.6M | Reduce -58.1% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.89% | 47,586 | $2.4M | Add +44.6% |
| SOXX iShares Semiconductor ETF | 0.80% | 11,559 | $2.2M | Reduce -3.7% |
| CZNC Citizens & Northern Corp. | 0.76% | 102,389 | $2.1M | Reduce -1.6% |
| JEPI JPMorgan Equity Premium Inco | 0.75% | 35,468 | $2.0M | Add +18.9% |
| JPST JPMorgan Ultra-Short Income | 0.72% | 38,742 | $2.0M | Reduce -1.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.70% | 3,577 | $1.9M | Add +8.1% |
| TSLA Tesla Inc. | 0.64% | 6,660 | $1.7M | Add +198.3% |
| SCHX Schwab US Large-Cap ETF | 0.57% | 70,487 | $1.6M | Add +1.0% |
| EPD Enterprise Products Partners | 0.56% | 44,467 | $1.5M | Reduce -3.0% |
| GOOG Alphabet Inc. Class C | 0.54% | 9,446 | $1.5M | Reduce -2.4% |
| CNC Centene Corp. | 0.54% | 24,246 | $1.5M | Reduce -4.1% |
| VYM Vanguard High DVD Yield ETF | 0.50% | 10,441 | $1.3M | Reduce -35.8% |
| BX Blackstone Inc. | 0.45% | 8,699 | $1.2M | Reduce -0.3% |
| UNH Unitedhealth Group Inc. | 0.43% | 2,219 | $1.2M | Add +3.7% |
| VOX Vanguard Communication Servi | 0.40% | 7,384 | $1.1M | No change |
| ERIE Erie Indemnity Company Class A | 0.39% | 2,550 | $1.1M | No change |
| ADI Analog Devices Inc. | 0.39% | 5,200 | $1.0M | Reduce -0.4% |
| MS Morgan Stanley | 0.38% | 8,867 | $1.0M | Add +0.6% |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.38% | 3,549 | $1.0M | Add +14.1% |
| RTX RTX Corp. | 0.37% | 7,541 | $999K | Reduce -2.7% |
| META Meta Platforms Inc. Class A | 0.35% | 1,654 | $953K | Reduce -6.3% |
| SCHG Schwab US Large-Cap Growth | 0.34% | 37,082 | $929K | Add +74.3% |
| NEE Nextera Energy Inc. | 0.33% | 12,515 | $887K | Reduce -1.1% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.32% | 9,519 | $873K | Add +59.5% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 0.30% | 2,597 | $802K | Add +5.8% |
| SCHM Schwab US Mid Cap ETF | 0.30% | 30,566 | $801K | Reduce -3.9% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.29% | 1,396 | $781K | Reduce -0.5% |
| AMP Ameriprise Financial Inc. | 0.29% | 1,606 | $777K | Reduce -0.3% |
| VTI VG Morningstar TS MKT ETF-US | 0.28% | 2,751 | $756K | Add +8.4% |
| XOM Exxon Mobil Corp. | 0.28% | 6,313 | $751K | Reduce -4.0% |
| IBIT iShares Bitcoin Trust ETF | 0.26% | 15,235 | $713K | Add +25.9% |
| PFF iShares Preferred & Income S | 0.25% | 21,915 | $673K | No change |
| JNJ Johnson & Johnson | 0.23% | 3,809 | $632K | Reduce -8.9% |
| ADP Automatic Data Processing | 0.23% | 2,060 | $629K | Reduce -13.4% |
| HELO JPMorgan Hedged Equity ETF | 0.23% | 10,482 | $626K | Reduce -89.0% |
| QQQ Invesco QQQ Trust Series 1 | 0.22% | 1,279 | $600K | Reduce -3.3% |
| DFS Discover Financial Services | 0.21% | 3,416 | $583K | Reduce -0.4% |
| XLE SS Energy Select Sector | 0.21% | 6,199 | $579K | Add +49.8% |
| TXN Texas Instruments Inc. | 0.21% | 3,146 | $565K | Reduce -2.4% |
| LNG Cheniere Energy Inc. | 0.21% | 2,406 | $557K | Reduce -0.3% |
| FLBL Franklin Senior Loan ETF | 0.20% | 23,096 | $556K | Add +5.9% |
| COST Costco Wholesale Corp. | 0.20% | 582 | $550K | Reduce -2.8% |
| LPLA LPL Financial Holdings Inc. | 0.19% | 1,572 | $514K | Reduce -0.2% |
| CMG Chipotle Mexican Grill Inc. | 0.18% | 9,700 | $487K | Reduce -1.2% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.18% | 9,351 | $484K | Add +152.5% |
| JPM JPMorgan Chase & Co. | 0.17% | 1,933 | $474K | Reduce -0.3% |
| QCOM Qualcomm Inc. | 0.17% | 2,935 | $451K | Add +0.9% |
| IWB iShares Russell 1000 ETF | 0.16% | 1,418 | $435K | No change |
| TMO Thermo Fisher Scientific Inc. | 0.15% | 840 | $418K | Reduce -5.7% |
| VOO Vanguard S&P 500 ETF | 0.15% | 798 | $410K | Add +1.1% |
| FULT Fulton Financial Corp. | 0.15% | 21,900 | $396K | No change |
| SYF Synchrony Financial | 0.15% | 7,476 | $396K | Reduce -0.3% |
| MRK Merck & Co. Inc. | 0.14% | 4,360 | $391K | Reduce -15.9% |
| FNDA Schwab Fndmntl US SM Co. ETF | 0.14% | 14,245 | $390K | Reduce -1.2% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.14% | 1,445 | $374K | Add +32.9% |
| SCHA Schwab US Small-Cap ETF | 0.14% | 15,856 | $372K | Add +0.1% |
| FTNT Fortinet Inc. | 0.13% | 3,800 | $366K | Reduce -1.4% |
| GD General Dynamics Corp. | 0.13% | 1,320 | $360K | Reduce -0.3% |
| VIG Vanguard Dividend Apprec ETF | 0.13% | 1,822 | $354K | Reduce -1.7% |
| CEG Constellation Energy | 0.12% | 1,644 | $331K | Reduce -0.3% |
| XLU St Sr Utl SL SE SPDR ETF-Usd | 0.12% | 3,981 | $314K | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.11% | 7,036 | $294K | Reduce -4.8% |
| AVGO Broadcom Inc. | 0.10% | 1,687 | $282K | Reduce -13.6% |
| COF Capital One Financial Corp. | 0.10% | 1,570 | $282K | Reduce -0.8% |
| SPHQ Invesco S&P 500 Quality ETF | 0.10% | 4,173 | $277K | Add +35.8% |
| ORCL Oracle Corp. | 0.09% | 1,824 | $255K | Add +2.4% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.09% | 1,143 | $254K | Add +25.5% |
| EXC Exelon Corp. | 0.09% | 5,355 | $247K | Reduce -0.6% |
| ADBE Adobe Inc. | 0.09% | 641 | $246K | Reduce -0.8% |
| HYMB SS SPDR N Ice HY Muni ETF | 0.09% | 9,475 | $239K | No change |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.09% | 953 | $237K | Add +2.9% |
| HYDB iShares High Yield Systemati | 0.09% | 5,005 | $236K | Add +1.0% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.08% | 609 | $226K | No change |
| CLOU Global X Cloud Computing ETF | 0.08% | 10,646 | $223K | No change |
| CW Curtiss-Wright Corp. | 0.08% | 669 | $212K | Reduce -0.3% |
| FBTC Fidelity Wise Origin Bitcoin | 0.08% | 2,922 | $210K | New |
| IVE iShares S&P 500 Value ETF | 0.07% | 1,060 | $202K | No change |
| DGRO iShares Core Dividend Growth | 0.07% | 3,262 | $202K | New |
Other holdings (2): bonds, preferreds, convertibles and warrants · $1.0M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 645 | $775K | Reduce -2.3% |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 212 | $262K | Reduce -3.6% |
Total filed on the 13F, all lines: $272.4M.
Portfolio Sells Q4 2024 → Q1 2025
| HELO JPMorgan Hedged Equity ETF | Reduce -89.0% | 0.23% | −1.80 |
| SCHD Schwab US DVD Equity ETF | Reduce -58.1% | 0.96% | −1.14 |
| AAPL Apple Inc. | Reduce -1.0% | 13.38% | −0.85 |
| MSFT Microsoft Corp. | Reduce -0.9% | 12.10% | −0.71 |
| GOOGL Alphabet Inc. Class A | Reduce -0.8% | 1.65% | −0.25 |
| JMUB JPMorgan Municipal ETF | Sold out | 0.00% | −0.24 |
| VYM Vanguard High DVD Yield ETF | Reduce -35.8% | 0.50% | −0.22 |
| SMH Vaneck Semiconductor ETF | Reduce -0.0% | 1.71% | −0.12 |
| GOOG Alphabet Inc. Class C | Reduce -2.4% | 0.54% | −0.09 |
| SOXX iShares Semiconductor ETF | Reduce -3.7% | 0.80% | −0.09 |
| VMC Vulcan Materials Co. | Reduce -3.0% | 1.36% | −0.08 |
| PEP Pepsico Inc. | Sold out | 0.00% | −0.07 |
| PEG Public Service Enterprise GP | Sold out | 0.00% | −0.07 |
| BX Blackstone Inc. | Reduce -0.3% | 0.45% | −0.07 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.07 |
| AVGO Broadcom Inc. | Reduce -13.6% | 0.10% | −0.05 |
| MRK Merck & Co. Inc. | Reduce -15.9% | 0.14% | −0.03 |
| DSI iShares ESG MSCI KLD 400 ETF | Reduce -2.1% | 0.99% | −0.03 |
| CMG Chipotle Mexican Grill Inc. | Reduce -1.2% | 0.18% | −0.02 |
| SYF Synchrony Financial | Reduce -0.3% | 0.15% | −0.02 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -3.3% | 0.22% | −0.01 |
| AMP Ameriprise Financial Inc. | Reduce -0.3% | 0.29% | −0.01 |
| ADBE Adobe Inc. | Reduce -0.8% | 0.09% | −0.01 |
| SCHM Schwab US Mid Cap ETF | Reduce -3.9% | 0.30% | −0.01 |
| ADP Automatic Data Processing | Reduce -13.4% | 0.23% | −0.01 |
| TMO Thermo Fisher Scientific Inc. | Reduce -5.7% | 0.15% | −0.01 |
| CEG Constellation Energy | Reduce -0.3% | 0.12% | −0.00 |
| META Meta Platforms Inc. Class A | Reduce -6.3% | 0.35% | −0.00 |
| CW Curtiss-Wright Corp. | Reduce -0.3% | 0.08% | −0.00 |
| BAC Bank of America Corp. | Reduce -4.8% | 0.11% | −0.00 |
| FNDA Schwab Fndmntl US SM Co. ETF | Reduce -1.2% | 0.14% | −0.00 |
| TXN Texas Instruments Inc. | Reduce -2.4% | 0.21% | +0.00 |
| ADI Analog Devices Inc. | Reduce -0.4% | 0.39% | +0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.5% | 0.29% | +0.00 |
| VIG Vanguard Dividend Apprec ETF | Reduce -1.7% | 0.13% | +0.01 |
| COF Capital One Financial Corp. | Reduce -0.8% | 0.10% | +0.01 |
| FTNT Fortinet Inc. | Reduce -1.4% | 0.13% | +0.01 |
| DFS Discover Financial Services | Reduce -0.4% | 0.21% | +0.01 |
| GD General Dynamics Corp. | Reduce -0.3% | 0.13% | +0.01 |
| LPLA LPL Financial Holdings Inc. | Reduce -0.2% | 0.19% | +0.01 |
| COST Costco Wholesale Corp. | Reduce -2.8% | 0.20% | +0.01 |
| NEE Nextera Energy Inc. | Reduce -1.1% | 0.33% | +0.01 |
| JPM JPMorgan Chase & Co. | Reduce -0.3% | 0.17% | +0.01 |
| CNC Centene Corp. | Reduce -4.1% | 0.54% | +0.02 |
| EXC Exelon Corp. | Reduce -0.6% | 0.09% | +0.02 |
| JNJ Johnson & Johnson | Reduce -8.9% | 0.23% | +0.02 |
| LNG Cheniere Energy Inc. | Reduce -0.3% | 0.21% | +0.03 |
| XOM Exxon Mobil Corp. | Reduce -4.0% | 0.28% | +0.03 |
| JPST JPMorgan Ultra-Short Income | Reduce -1.4% | 0.72% | +0.04 |
| RTX RTX Corp. | Reduce -2.7% | 0.37% | +0.06 |
Portfolio Buys Q4 2024 → Q1 2025
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +94.2% | 3.15% | +1.63 |
| TFLR T Rowe Price Floating RT ETF | Add +16.7% | 3.59% | +0.68 |
| JPIE JPMorgan Income ETF | Add +0.8% | 6.72% | +0.55 |
| IVV iShares Core S&P 500 ETF | Add +3.9% | 9.49% | +0.55 |
| BINC iShares Flex I A ETF-Usd Inc. | Add +24.1% | 1.91% | +0.48 |
| TSLA Tesla Inc. | Add +198.3% | 0.64% | +0.33 |
| JMST JPM Ultra-Short Muni Income | Add +44.6% | 0.89% | +0.32 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +8.1% | 0.70% | +0.19 |
| JEPI JPMorgan Equity Premium Inco | Add +18.9% | 0.75% | +0.16 |
| SCHG Schwab US Large-Cap Growth | Add +74.3% | 0.34% | +0.14 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +59.5% | 0.32% | +0.13 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | New | 0.12% | +0.12 |
| JEPQ JPM Nasdaq Equity Premium | Add +152.5% | 0.18% | +0.11 |
| XLE SS Energy Select Sector | Add +49.8% | 0.21% | +0.09 |
| FBTC Fidelity Wise Origin Bitcoin | New | 0.08% | +0.08 |
| DGRO iShares Core Dividend Growth | New | 0.07% | +0.07 |
| MSTR Strategy Inc. | Add +14.1% | 0.38% | +0.07 |
| UNH Unitedhealth Group Inc. | Add +3.7% | 0.43% | +0.06 |
| IJH iShares Core S&P Midcap ETF | Add +1.5% | 2.55% | +0.04 |
| IBIT iShares Bitcoin Trust ETF | Add +25.9% | 0.26% | +0.04 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +32.9% | 0.14% | +0.04 |
| SPHQ Invesco S&P 500 Quality ETF | Add +35.8% | 0.10% | +0.03 |
| VTI VG Morningstar TS MKT ETF-US | Add +8.4% | 0.28% | +0.03 |
| FLBL Franklin Senior Loan ETF | Add +5.9% | 0.20% | +0.02 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +25.5% | 0.09% | +0.02 |
| IBM Intl Business Machines Corp. | Add +2.9% | 0.09% | +0.02 |
| SCHX Schwab US Large-Cap ETF | Add +1.0% | 0.57% | +0.02 |
| QCOM Qualcomm Inc. | Add +0.9% | 0.17% | +0.01 |
| HYDB iShares High Yield Systemati | Add +1.0% | 0.09% | +0.01 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Add +5.8% | 0.30% | +0.01 |
| VOO Vanguard S&P 500 ETF | Add +1.1% | 0.15% | +0.00 |
| MS Morgan Stanley | Add +0.6% | 0.38% | −0.00 |
| SCHA Schwab US Small-Cap ETF | Add +0.1% | 0.14% | −0.00 |
| IJR iShares Core S&P Small-Cap E | Add +2.3% | 1.12% | −0.01 |
| ORCL Oracle Corp. | Add +2.4% | 0.09% | −0.01 |
| AMZN Amazon.com Inc. | Add +3.9% | 8.44% | −0.31 |
| NVDA Nvidia Corp. | Add +3.6% | 4.38% | −0.51 |
Notes & Other Activity Q4 2024 → Q1 2025
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -2.3% | 645 | $775K |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -3.6% | 212 | $262K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 121 | $393.8M | AAPL, IVV, MSFT, FNDX, JPIE |
| Q1 2026 | 110 | $348.5M | AAPL, IVV, MSFT, JPIE, FNDX |
| Q4 2025 | 111 | $364.3M | AAPL, MSFT, IVV, JPIE, AMZN |
| Q3 2025 | 106 | $342.6M | MSFT, AAPL, IVV, JPIE, AMZN |
| Q2 2025 | 105 | $311.7M | MSFT, AAPL, IVV, AMZN, JPIE |
| Q1 2025 | 97 | $271.3M | AAPL, MSFT, IVV, AMZN, JPIE |
| Q4 2024 | 98 | $290.5M | AAPL, MSFT, IVV, AMZN, JPIE |
| Q3 2024 | 96 | $277.3M | AAPL, MSFT, IVV, AMZN, JPIE |
| Q2 2024 | 85 | $258.7M | MSFT, AAPL, AMZN, IVV, JPIE |
| Q1 2024 | 83 | $241.6M | MSFT, AAPL, AMZN, IVV, JPIE |