Pennsylvania Capital Management Inc.
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 18, 2025), Pennsylvania Capital Management Inc. reported 105 stock positions worth $311.7 million. Its top holding was Microsoft (MSFT) at 12.3% of the portfolio, followed by Apple (AAPL, 9.9%) and iShares Core S&P 500 ETF (IVV, 9.0%). Compared with Q1 2025, it opened 13 new positions, sold out of 5, added to 37 and reduced 32. The biggest buy was SS SPDR BB 1-3M T-Bill ETF (BIL, shares +1007%) and the biggest sale an exit from T Rowe Price Floating RT ETF (TFLR).
- Most Recent 13F
- Q2 2026
- Location
- HUNTINGDON VALLEY, PA
- CIK
- 0001004140
- Portfolio Value
- $311.7M (Q2 2025)
- SEC Filing
- 0001004140-25-000006 ↗ filed Jul 18, 2025
Holdings Value
Holdings 105 stocks · $311.7M
| MSFT Microsoft Corp. | 12.33% | 77,291 | $38.4M | Reduce -11.6% |
| AAPL Apple Inc. | 9.90% | 150,419 | $30.9M | Reduce -8.0% |
| IVV iShares Core S&P 500 ETF | 9.01% | 45,236 | $28.1M | Reduce -1.3% |
| AMZN Amazon.com Inc. | 6.09% | 86,531 | $19.0M | Reduce -28.1% |
| JPIE JPMorgan Income ETF | 5.96% | 401,152 | $18.6M | Add +1.4% |
| NVDA Nvidia Corp. | 4.20% | 82,881 | $13.1M | Reduce -24.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 3.10% | 105,392 | $9.7M | Add +1007.2% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 3.07% | 26,104 | $9.6M | Add +905.2% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 2.90% | 225,680 | $9.0M | Add +5.6% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 2.81% | 356,328 | $8.7M | Reduce -1.5% |
| VOO Vanguard S&P 500 ETF | 2.68% | 14,688 | $8.3M | Add +1740.6% |
| IJH iShares Core S&P Midcap ETF | 2.37% | 119,314 | $7.4M | Add +0.5% |
| JNJ Johnson & Johnson | 2.10% | 42,847 | $6.5M | Add +1024.9% |
| BINC iShares Flex I A ETF-Usd Inc. | 1.71% | 100,653 | $5.3M | Add +1.8% |
| VMC Vulcan Materials Co. | 1.32% | 15,791 | $4.1M | No change |
| SMH Vaneck Semiconductor ETF | 1.30% | 14,579 | $4.1M | Reduce -33.4% |
| GOOGL Alphabet Inc. Class A | 1.19% | 21,090 | $3.7M | Reduce -27.2% |
| XLY SS Consumer Disc Select Sect | 1.09% | 15,629 | $3.4M | Add +2.0% |
| LLY Eli Lilly & Co. | 1.05% | 4,190 | $3.3M | Add +0.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.99% | 4,998 | $3.1M | Add +258.0% |
| DSI iShares ESG MSCI KLD 400 ETF | 0.98% | 26,242 | $3.0M | No change |
| IJR iShares Core S&P Small-Cap E | 0.97% | 27,586 | $3.0M | Reduce -5.0% |
| IXUS iShares Core Intl Stock ETF | 0.95% | 38,152 | $2.9M | New |
| TSLA Tesla Inc. | 0.83% | 8,185 | $2.6M | Add +22.9% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.79% | 48,515 | $2.5M | Add +1.9% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.75% | 8,369 | $2.3M | Add +479.2% |
| SCHD Schwab US DVD Equity ETF | 0.75% | 88,342 | $2.3M | Reduce -5.5% |
| JPST JPMorgan Ultra-Short Income | 0.67% | 41,408 | $2.1M | Add +6.9% |
| SOXX iShares Semiconductor ETF | 0.67% | 8,704 | $2.1M | Reduce -24.7% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.64% | 4,132 | $2.0M | Add +15.5% |
| CZNC Citizens & Northern Corp. | 0.62% | 102,389 | $1.9M | No change |
| SCHX Schwab US Large-Cap ETF | 0.59% | 75,195 | $1.8M | Add +6.7% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.57% | 7,475 | $1.8M | Add +554.0% |
| JEPI JPMorgan Equity Premium Inco | 0.52% | 28,250 | $1.6M | Reduce -20.4% |
| VBIL Vanguard 0-3M T-Bill ETF | 0.48% | 19,852 | $1.5M | New |
| VYM Vanguard High DVD Yield ETF | 0.45% | 10,441 | $1.4M | No change |
| MSTR Strategy Inc. filed as MICROSTRATEGY INC | 0.45% | 3,439 | $1.4M | Reduce -3.1% |
| EPD Enterprise Products Partners | 0.44% | 44,467 | $1.4M | No change |
| MS Morgan Stanley | 0.42% | 9,315 | $1.3M | Add +5.0% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.41% | 4,487 | $1.3M | New |
| VOX Vanguard Communication Servi | 0.41% | 7,384 | $1.3M | No change |
| CNC Centene Corp. | 0.40% | 23,191 | $1.3M | Reduce -4.3% |
| ADI Analog Devices Inc. | 0.40% | 5,209 | $1.2M | Add +0.2% |
| BX Blackstone Inc. | 0.39% | 8,075 | $1.2M | Reduce -7.2% |
| META Meta Platforms Inc. Class A | 0.38% | 1,596 | $1.2M | Reduce -3.5% |
| IVW iShares S&P 500 Growth ETF | 0.37% | 10,356 | $1.1M | New |
| GOOG Alphabet Inc. Class C | 0.36% | 6,373 | $1.1M | Reduce -32.5% |
| RTX RTX Corp. | 0.35% | 7,541 | $1.1M | No change |
| SCHG Schwab US Large-Cap Growth | 0.35% | 37,618 | $1.1M | Add +1.4% |
| VTI VG Morningstar TS MKT ETF-US | 0.33% | 3,406 | $1.0M | Add +23.8% |
| IVE iShares S&P 500 Value ETF | 0.32% | 5,037 | $984K | Add +375.2% |
| IBIT iShares Bitcoin Trust ETF | 0.31% | 15,809 | $968K | Add +3.8% |
| COF Capital One Financial Corp. | 0.31% | 4,477 | $953K | Add +185.2% |
| ERIE Erie Indemnity Company Class A | 0.28% | 2,550 | $884K | No change |
| NEE Nextera Energy Inc. | 0.28% | 12,609 | $875K | Add +0.8% |
| SCHM Schwab US Mid Cap ETF | 0.28% | 31,136 | $873K | Add +1.9% |
| AMP Ameriprise Financial Inc. | 0.28% | 1,606 | $857K | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.23% | 1,279 | $706K | No change |
| XOM Exxon Mobil Corp. | 0.22% | 6,428 | $693K | Add +1.8% |
| PFF iShares Preferred & Income S | 0.21% | 21,590 | $662K | Reduce -1.5% |
| TXN Texas Instruments Inc. | 0.21% | 3,155 | $655K | Add +0.3% |
| XLF SS Financial Select Sector | 0.21% | 12,406 | $650K | New |
| ADP Automatic Data Processing | 0.20% | 2,060 | $635K | No change |
| HELO JPMorgan Hedged Equity ETF | 0.20% | 10,048 | $629K | Reduce -4.1% |
| LNG Cheniere Energy Inc. | 0.19% | 2,427 | $591K | Add +0.9% |
| LPLA LPL Financial Holdings Inc. | 0.19% | 1,572 | $589K | No change |
| COST Costco Wholesale Corp. | 0.18% | 577 | $571K | Reduce -0.9% |
| CMG Chipotle Mexican Grill Inc. | 0.17% | 9,700 | $545K | No change |
| JPM JPMorgan Chase & Co. | 0.17% | 1,838 | $533K | Reduce -4.9% |
| CEG Constellation Energy | 0.17% | 1,639 | $529K | Reduce -0.3% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.17% | 9,694 | $527K | Add +3.7% |
| IWB iShares Russell 1000 ETF | 0.15% | 1,418 | $482K | No change |
| SYF Synchrony Financial | 0.15% | 7,184 | $479K | Reduce -3.9% |
| QCOM Qualcomm Inc. | 0.15% | 2,878 | $458K | Reduce -1.9% |
| UNH Unitedhealth Group Inc. | 0.15% | 1,467 | $458K | Reduce -33.9% |
| SCHA Schwab US Small-Cap ETF | 0.14% | 16,773 | $424K | Add +5.8% |
| XLE SS Energy Select Sector | 0.13% | 4,884 | $414K | Reduce -21.2% |
| FTNT Fortinet Inc. | 0.13% | 3,800 | $402K | No change |
| FULT Fulton Financial Corp. | 0.13% | 21,900 | $395K | No change |
| GD General Dynamics Corp. | 0.12% | 1,320 | $385K | No change |
| VIG Vanguard Dividend Apprec ETF | 0.12% | 1,822 | $373K | No change |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.11% | 7,153 | $338K | Add +1.7% |
| ORCL Oracle Corp. | 0.11% | 1,545 | $338K | Reduce -15.3% |
| CW Curtiss-Wright Corp. | 0.11% | 672 | $328K | Add +0.5% |
| AVGO Broadcom Inc. | 0.10% | 1,150 | $317K | Reduce -31.8% |
| TMO Thermo Fisher Scientific Inc. | 0.10% | 760 | $308K | Reduce -9.5% |
| SPHQ Invesco S&P 500 Quality ETF | 0.10% | 4,173 | $297K | No change |
| SMHX Vaneck Fables Smicndctr ETF | 0.09% | 9,255 | $290K | New |
| MRK Merck & Co. Inc. | 0.09% | 3,555 | $281K | Reduce -18.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.09% | 953 | $281K | No change |
| FBTC Fidelity Wise Origin Bitcoin | 0.09% | 2,922 | $275K | No change |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.09% | 610 | $267K | Add +0.2% |
| HYDB iShares High Yield Systemati | 0.08% | 5,091 | $242K | Add +1.7% |
| HYMB SS SPDR N Ice HY Muni ETF | 0.08% | 9,475 | $235K | No change |
| EXC Exelon Corp. | 0.07% | 5,355 | $233K | No change |
| IWF iShares Russell 1000 Growth | 0.07% | 541 | $230K | New |
| EFA iShares MSCI Eafe ETF | 0.07% | 2,542 | $227K | New |
| PANW Palo Alto Networks Inc. | 0.07% | 1,100 | $225K | New |
| GS Goldman Sachs Group Inc. | 0.07% | 305 | $216K | New |
| CLOU Global X Cloud Computing ETF | 0.07% | 9,248 | $216K | Reduce -13.1% |
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 | $757K | No change |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 212 | $257K | No change |
Total filed on the 13F, all lines: $312.7M.
Portfolio Sells Q1 2025 → Q2 2025
| TFLR T Rowe Price Floating RT ETF | Sold out | 0.00% | −3.59 |
| AAPL Apple Inc. | Reduce -8.0% | 9.90% | −3.48 |
| AMZN Amazon.com Inc. | Reduce -28.1% | 6.09% | −2.35 |
| IVV iShares Core S&P 500 ETF | Reduce -1.3% | 9.01% | −0.48 |
| GOOGL Alphabet Inc. Class A | Reduce -27.2% | 1.19% | −0.46 |
| SMH Vaneck Semiconductor ETF | Reduce -33.4% | 1.30% | −0.40 |
| FNDX Schwab Fndmntl US LRG Co. ETF | Reduce -1.5% | 2.81% | −0.34 |
| UNH Unitedhealth Group Inc. | Reduce -33.9% | 0.15% | −0.28 |
| JEPI JPMorgan Equity Premium Inco | Reduce -20.4% | 0.52% | −0.23 |
| DFS Discover Financial Services | Sold out | 0.00% | −0.21 |
| SCHD Schwab US DVD Equity ETF | Reduce -5.5% | 0.75% | −0.21 |
| FLBL Franklin Senior Loan ETF | Sold out | 0.00% | −0.20 |
| NVDA Nvidia Corp. | Reduce -24.5% | 4.20% | −0.18 |
| GOOG Alphabet Inc. Class C | Reduce -32.5% | 0.36% | −0.18 |
| IJR iShares Core S&P Small-Cap E | Reduce -5.0% | 0.97% | −0.15 |
| CNC Centene Corp. | Reduce -4.3% | 0.40% | −0.14 |
| SOXX iShares Semiconductor ETF | Reduce -24.7% | 0.67% | −0.14 |
| XLU St Sr Utl SL SE SPDR ETF-Usd | Sold out | 0.00% | −0.12 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.09 |
| XLE SS Energy Select Sector | Reduce -21.2% | 0.13% | −0.08 |
| FNDA Schwab Fndmntl US SM Co. ETF | Reduce -48.1% | 0.07% | −0.08 |
| BX Blackstone Inc. | Reduce -7.2% | 0.39% | −0.06 |
| TMO Thermo Fisher Scientific Inc. | Reduce -9.5% | 0.10% | −0.06 |
| MRK Merck & Co. Inc. | Reduce -18.5% | 0.09% | −0.05 |
| PFF iShares Preferred & Income S | Reduce -1.5% | 0.21% | −0.04 |
| HELO JPMorgan Hedged Equity ETF | Reduce -4.1% | 0.20% | −0.03 |
| COST Costco Wholesale Corp. | Reduce -0.9% | 0.18% | −0.02 |
| QCOM Qualcomm Inc. | Reduce -1.9% | 0.15% | −0.02 |
| CLOU Global X Cloud Computing ETF | Reduce -13.1% | 0.07% | −0.01 |
| JPM JPMorgan Chase & Co. | Reduce -4.9% | 0.17% | −0.00 |
| AVGO Broadcom Inc. | Reduce -31.8% | 0.10% | −0.00 |
| SYF Synchrony Financial | Reduce -3.9% | 0.15% | +0.01 |
| ORCL Oracle Corp. | Reduce -15.3% | 0.11% | +0.01 |
| META Meta Platforms Inc. Class A | Reduce -3.5% | 0.38% | +0.03 |
| CEG Constellation Energy | Reduce -0.3% | 0.17% | +0.05 |
| MSTR Strategy Inc. | Reduce -3.1% | 0.45% | +0.07 |
| MSFT Microsoft Corp. | Reduce -11.6% | 12.33% | +0.23 |
Portfolio Buys Q1 2025 → Q2 2025
| BIL SS SPDR BB 1-3M T-Bill ETF | Add +1007.2% | 3.10% | +2.78 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Add +905.2% | 3.07% | +2.77 |
| VOO Vanguard S&P 500 ETF | Add +1740.6% | 2.68% | +2.53 |
| JNJ Johnson & Johnson | Add +1024.9% | 2.10% | +1.87 |
| IXUS iShares Core Intl Stock ETF | New | 0.95% | +0.95 |
| SPY SS SPDR S&P 500 ETF Trust-US | Add +258.0% | 0.99% | +0.70 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +479.2% | 0.75% | +0.61 |
| VBIL Vanguard 0-3M T-Bill ETF | New | 0.48% | +0.48 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +554.0% | 0.57% | +0.47 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | New | 0.41% | +0.41 |
| IVW iShares S&P 500 Growth ETF | New | 0.37% | +0.37 |
| IVE iShares S&P 500 Value ETF | Add +375.2% | 0.32% | +0.24 |
| XLF SS Financial Select Sector | New | 0.21% | +0.21 |
| COF Capital One Financial Corp. | Add +185.2% | 0.31% | +0.20 |
| TSLA Tesla Inc. | Add +22.9% | 0.83% | +0.20 |
| SMHX Vaneck Fables Smicndctr ETF | New | 0.09% | +0.09 |
| IWF iShares Russell 1000 Growth | New | 0.07% | +0.07 |
| EFA iShares MSCI Eafe ETF | New | 0.07% | +0.07 |
| PANW Palo Alto Networks Inc. | New | 0.07% | +0.07 |
| GS Goldman Sachs Group Inc. | New | 0.07% | +0.07 |
| SCHB Schwab US Broad Market ETF | New | 0.07% | +0.07 |
| JMUB JPMorgan Municipal ETF | New | 0.07% | +0.07 |
| PEG Public Service Enterprise GP | New | 0.06% | +0.06 |
| VTI VG Morningstar TS MKT ETF-US | Add +23.8% | 0.33% | +0.05 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +5.6% | 2.90% | +0.05 |
| IBIT iShares Bitcoin Trust ETF | Add +3.8% | 0.31% | +0.05 |
| MS Morgan Stanley | Add +5.0% | 0.42% | +0.04 |
| CW Curtiss-Wright Corp. | Add +0.5% | 0.11% | +0.03 |
| SCHX Schwab US Large-Cap ETF | Add +6.7% | 0.59% | +0.02 |
| ADI Analog Devices Inc. | Add +0.2% | 0.40% | +0.01 |
| SCHG Schwab US Large-Cap Growth | Add +1.4% | 0.35% | +0.01 |
| VUG Vanguard Mrngstar GR ETF-Sui | Add +0.2% | 0.09% | +0.00 |
| TXN Texas Instruments Inc. | Add +0.3% | 0.21% | +0.00 |
| BAC Bank of America Corp. | Add +1.7% | 0.11% | +0.00 |
| SCHA Schwab US Small-Cap ETF | Add +5.8% | 0.14% | −0.00 |
| DGRO iShares Core Dividend Growth | Add +0.1% | 0.07% | −0.01 |
| JEPQ JPM Nasdaq Equity Premium | Add +3.7% | 0.17% | −0.01 |
| HYDB iShares High Yield Systemati | Add +1.7% | 0.08% | −0.01 |
| SCHM Schwab US Mid Cap ETF | Add +1.9% | 0.28% | −0.01 |
| LNG Cheniere Energy Inc. | Add +0.9% | 0.19% | −0.02 |
| XLY SS Consumer Disc Select Sect | Add +2.0% | 1.09% | −0.03 |
| NEE Nextera Energy Inc. | Add +0.8% | 0.28% | −0.05 |
| JPST JPMorgan Ultra-Short Income | Add +6.9% | 0.67% | −0.05 |
| XOM Exxon Mobil Corp. | Add +1.8% | 0.22% | −0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Add +15.5% | 0.64% | −0.06 |
| JMST JPM Ultra-Short Muni Income | Add +1.9% | 0.79% | −0.10 |
| IJH iShares Core S&P Midcap ETF | Add +0.5% | 2.37% | −0.18 |
| BINC iShares Flex I A ETF-Usd Inc. | Add +1.8% | 1.71% | −0.20 |
| LLY Eli Lilly & Co. | Add +0.1% | 1.05% | −0.23 |
| JPIE JPMorgan Income ETF | Add +1.4% | 5.96% | −0.75 |
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 |