Pennsylvania Capital Management Inc.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 26, 2026), Pennsylvania Capital Management Inc. reported 111 stock positions worth $364.3 million. Its top holding was Apple (AAPL) at 11.2% of the portfolio, followed by Microsoft (MSFT, 10.3%) and iShares Core S&P 500 ETF (IVV, 8.6%). Compared with Q3 2025, it opened 10 new positions, sold out of 5, added to 33 and reduced 50. The biggest buy was Schwab Fndmntl US LRG Co. ETF (FNDX, shares +81%) and the biggest sale Microsoft (MSFT, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- HUNTINGDON VALLEY, PA
- CIK
- 0001004140
- Portfolio Value
- $364.3M (Q4 2025)
- SEC Filing
- 0001004140-26-000001 ↗ filed Jan 26, 2026
Holdings Value
Holdings 111 stocks · $364.3M
| AAPL Apple Inc. | 11.24% | 150,640 | $41.0M | Add +1.9% |
| MSFT Microsoft Corp. | 10.27% | 77,344 | $37.4M | Reduce -0.1% |
| IVV iShares Core S&P 500 ETF | 8.62% | 45,842 | $31.4M | Reduce -0.6% |
| JPIE JPMorgan Income ETF | 5.76% | 453,100 | $21.0M | Add +4.4% |
| AMZN Amazon.com Inc. | 5.53% | 87,280 | $20.1M | Add +0.1% |
| FNDX Schwab Fndmntl US LRG Co. ETF | 5.02% | 671,928 | $18.3M | Add +81.3% |
| BINC iShares Flex I A ETF-Usd Inc. | 5.00% | 345,107 | $18.2M | Add +11.7% |
| NVDA Nvidia Corp. | 4.08% | 79,664 | $14.9M | Reduce -3.9% |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | 3.46% | 30,548 | $12.6M | Add +16.2% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 3.30% | 266,240 | $12.0M | Add +5.0% |
| VOO Vanguard S&P 500 ETF | 2.90% | 16,855 | $10.6M | Add +14.7% |
| JNJ Johnson & Johnson | 2.44% | 42,934 | $8.9M | Add +0.0% |
| IJH iShares Core S&P Midcap ETF | 2.15% | 118,489 | $7.8M | Reduce -2.3% |
| GOOGL Alphabet Inc. Class A | 1.85% | 21,512 | $6.7M | Add +1.6% |
| SMH Vaneck Semiconductor ETF | 1.36% | 13,740 | $4.9M | Reduce -4.5% |
| LLY Eli Lilly & Co. | 1.22% | 4,140 | $4.4M | Reduce -1.2% |
| VMC Vulcan Materials Co. | 1.22% | 15,519 | $4.4M | Reduce -1.7% |
| TSLA Tesla Inc. | 1.11% | 8,971 | $4.0M | Add +2.4% |
| XLY SS Consumer Disc Select Sect | 1.01% | 30,720 | $3.7M | No change |
| IXUS iShares Core Intl Stock ETF | 0.99% | 42,618 | $3.6M | Add +11.7% |
| DSI iShares ESG MSCI KLD 400 ETF | 0.93% | 26,317 | $3.4M | Reduce -0.1% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.92% | 4,900 | $3.3M | Reduce -0.3% |
| IJR iShares Core S&P Small-Cap E | 0.82% | 24,870 | $3.0M | Reduce -5.4% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.71% | 8,864 | $2.6M | Add +5.9% |
| SOXX iShares Semiconductor ETF | 0.64% | 7,741 | $2.3M | Reduce -11.1% |
| SCHX Schwab US Large-Cap ETF | 0.61% | 82,997 | $2.2M | Add +24.6% |
| SCHD Schwab US DVD Equity ETF | 0.56% | 74,510 | $2.0M | Reduce -8.4% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.56% | 4,046 | $2.0M | Reduce -0.9% |
| CZNC Citizens & Northern Corp. | 0.56% | 100,726 | $2.0M | Reduce -1.6% |
| GOOG Alphabet Inc. Class C | 0.56% | 6,460 | $2.0M | Reduce -0.9% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.54% | 7,617 | $2.0M | Add +1.9% |
| JPST JPMorgan Ultra-Short Income | 0.47% | 33,891 | $1.7M | Reduce -14.2% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 0.46% | 32,650 | $1.7M | Reduce -31.2% |
| MS Morgan Stanley | 0.43% | 8,817 | $1.6M | Reduce -5.4% |
| SCHG Schwab US Large-Cap Growth | 0.43% | 47,564 | $1.6M | Add +8.0% |
| VYM Vanguard High DVD Yield ETF | 0.41% | 10,441 | $1.5M | No change |
| ADI Analog Devices Inc. | 0.39% | 5,200 | $1.4M | Reduce -0.3% |
| EPD Enterprise Products Partners | 0.38% | 43,235 | $1.4M | Reduce -3.2% |
| RTX RTX Corp. | 0.38% | 7,514 | $1.4M | Reduce -0.4% |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | 0.37% | 4,882 | $1.4M | Add +8.8% |
| VOX Vanguard Communication Servi | 0.37% | 6,952 | $1.3M | Reduce -5.8% |
| IVW iShares S&P 500 Growth ETF | 0.35% | 10,356 | $1.3M | No change |
| VTI VG Morningstar TS MKT ETF-US | 0.34% | 3,693 | $1.2M | Add +32.6% |
| IVES Dan Wedbush AI Rev ETF | 0.33% | 37,859 | $1.2M | Add +210.2% |
| BX Blackstone Inc. | 0.30% | 7,208 | $1.1M | Reduce -6.9% |
| IVE iShares S&P 500 Value ETF | 0.29% | 5,037 | $1.1M | No change |
| NEE Nextera Energy Inc. | 0.29% | 13,198 | $1.1M | Add +4.4% |
| META Meta Platforms Inc. Class A | 0.28% | 1,566 | $1.0M | Reduce -2.9% |
| VBIL Vanguard 0-3M T-Bill ETF | 0.28% | 13,588 | $1.0M | Reduce -37.6% |
| COF Capital One Financial Corp. | 0.28% | 4,198 | $1.0M | Reduce -6.3% |
| SCHM Schwab US Mid Cap ETF | 0.26% | 31,868 | $958K | Add +11.3% |
| CNC Centene Corp. | 0.25% | 22,191 | $913K | Reduce -4.3% |
| XOM Exxon Mobil Corp. | 0.25% | 7,492 | $902K | Add +17.5% |
| AMP Ameriprise Financial Inc. | 0.22% | 1,606 | $787K | No change |
| QQQ Invesco QQQ Trust Series 1 | 0.22% | 1,279 | $786K | No change |
| ERIE Erie Indemnity Company Class A | 0.20% | 2,550 | $731K | No change |
| JEPI JPMorgan Equity Premium Inco | 0.20% | 12,478 | $714K | Reduce -52.7% |
| AVGO Broadcom Inc. | 0.19% | 2,019 | $699K | Add +64.4% |
| XLF SS Financial Select Sector | 0.19% | 12,406 | $679K | No change |
| PFF iShares Preferred & Income S | 0.18% | 21,590 | $668K | No change |
| JPM JPMorgan Chase & Co. | 0.18% | 2,015 | $649K | Add +7.9% |
| SYF Synchrony Financial | 0.16% | 7,144 | $596K | Reduce -0.6% |
| JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F | 0.16% | 10,148 | $590K | Add +1.0% |
| FBTC Fidelity Wise Origin Bitcoin | 0.16% | 7,613 | $580K | Add +120.2% |
| CEG Constellation Energy | 0.16% | 1,634 | $577K | Reduce -0.4% |
| LPLA LPL Financial Holdings Inc. | 0.15% | 1,572 | $561K | No change |
| TXN Texas Instruments Inc. | 0.15% | 3,146 | $546K | Reduce -0.4% |
| IWB iShares Russell 1000 ETF | 0.15% | 1,418 | $530K | No change |
| FELG Fidelity Enh LRG Cap GWTH | 0.14% | 12,657 | $528K | No change |
| MSTR Strategy Inc. | 0.14% | 3,432 | $521K | Reduce -0.3% |
| SCHA Schwab US Small-Cap ETF | 0.14% | 17,765 | $506K | Add +7.0% |
| QCOM Qualcomm Inc. | 0.14% | 2,898 | $496K | Add +4.6% |
| COST Costco Wholesale Corp. | 0.13% | 565 | $487K | Reduce -2.1% |
| GD General Dynamics Corp. | 0.12% | 1,320 | $444K | No change |
| TMO Thermo Fisher Scientific Inc. | 0.12% | 759 | $440K | Add +3.8% |
| FULT Fulton Financial Corp. | 0.12% | 21,900 | $423K | No change |
| XLE SS Energy Select Sector | 0.12% | 9,465 | $423K | Reduce -3.1% |
| VIG Vanguard Dividend Apprec ETF | 0.11% | 1,851 | $407K | Add +0.8% |
| GPIX GLDM SA S&P 500 PR in ETF-US | 0.11% | 7,466 | $394K | New |
| VCRM Vanguard Core Tax-Ex Bond | 0.11% | 5,128 | $388K | New |
| VTES Vanguard SH Term Tax-Ex Bond | 0.11% | 3,812 | $387K | New |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.11% | 7,022 | $386K | Reduce -2.8% |
| ADP Automatic Data Processing | 0.10% | 1,473 | $379K | Reduce -28.8% |
| CW Curtiss-Wright Corp. | 0.10% | 669 | $369K | Reduce -0.6% |
| HODL Vaneck Bitcoin ETF | 0.10% | 14,718 | $364K | New |
| IBIT iShares Bitcoin Trust ETF | 0.10% | 7,270 | $361K | Reduce -60.6% |
| CMG Chipotle Mexican Grill Inc. | 0.10% | 9,700 | $359K | Reduce -0.1% |
| ORCL Oracle Corp. | 0.08% | 1,554 | $303K | Reduce -1.1% |
| FTNT Fortinet Inc. | 0.08% | 3,800 | $302K | Reduce -0.1% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.08% | 609 | $297K | Reduce -0.2% |
| SMHX Vaneck Fables Smicndctr ETF | 0.08% | 7,810 | $297K | No change |
| MINO PIMCO Municipal Income Oppor | 0.08% | 6,422 | $291K | New |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.08% | 933 | $276K | Reduce -2.4% |
| WMT Walmart Inc. | 0.07% | 2,434 | $271K | Add +16.0% |
| GS Goldman Sachs Group Inc. | 0.07% | 305 | $268K | Reduce -1.0% |
| IWF iShares Russell 1000 Growth | 0.07% | 541 | $256K | No change |
| HYDB iShares High Yield Systemati | 0.07% | 5,281 | $250K | Add +2.1% |
| HELO JPMorgan Hedged Equity ETF | 0.07% | 3,741 | $249K | Reduce -6.7% |
| EFA iShares MSCI Eafe ETF | 0.07% | 2,542 | $244K | No change |
| JMUB JPMorgan Municipal ETF | 0.07% | 4,689 | $237K | Add +7.5% |
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 | $782K | No change |
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 212 | $265K | No change |
Total filed on the 13F, all lines: $365.4M.
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -0.1% | 10.27% | −1.44 |
| NVDA Nvidia Corp. | Reduce -3.9% | 4.08% | −0.44 |
| IVV iShares Core S&P 500 ETF | Reduce -0.6% | 8.62% | −0.39 |
| IBIT iShares Bitcoin Trust ETF | Reduce -60.6% | 0.10% | −0.25 |
| JMST JPM Ultra-Short Muni Income | Reduce -31.2% | 0.46% | −0.25 |
| JEPI JPMorgan Equity Premium Inco | Reduce -52.7% | 0.20% | −0.24 |
| VMC Vulcan Materials Co. | Reduce -1.7% | 1.22% | −0.20 |
| VBIL Vanguard 0-3M T-Bill ETF | Reduce -37.6% | 0.28% | −0.20 |
| MSTR Strategy Inc. | Reduce -0.3% | 0.14% | −0.18 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.17 |
| IJH iShares Core S&P Midcap ETF | Reduce -2.3% | 2.15% | −0.16 |
| UNH Unitedhealth Group Inc. | Sold out | 0.00% | −0.14 |
| JPST JPMorgan Ultra-Short Income | Reduce -14.2% | 0.47% | −0.11 |
| GQGU GQG US Equity ETF | Sold out | 0.00% | −0.11 |
| IJR iShares Core S&P Small-Cap E | Reduce -5.4% | 0.82% | −0.09 |
| SCHD Schwab US DVD Equity ETF | Reduce -8.4% | 0.56% | −0.09 |
| BX Blackstone Inc. | Reduce -6.9% | 0.30% | −0.08 |
| ADP Automatic Data Processing | Reduce -28.8% | 0.10% | −0.07 |
| PANW Palo Alto Networks Inc. | Sold out | 0.00% | −0.07 |
| META Meta Platforms Inc. Class A | Reduce -2.9% | 0.28% | −0.06 |
| PEG Public Service Enterprise GP | Sold out | 0.00% | −0.06 |
| SOXX iShares Semiconductor ETF | Reduce -11.1% | 0.64% | −0.05 |
| ORCL Oracle Corp. | Reduce -1.1% | 0.08% | −0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.9% | 0.56% | −0.04 |
| DSI iShares ESG MSCI KLD 400 ETF | Reduce -0.1% | 0.93% | −0.04 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.3% | 0.92% | −0.04 |
| VOX Vanguard Communication Servi | Reduce -5.8% | 0.37% | −0.04 |
| CZNC Citizens & Northern Corp. | Reduce -1.6% | 0.56% | −0.03 |
| SPHQ Invesco S&P 500 Quality ETF | Reduce -32.1% | 0.06% | −0.03 |
| EPD Enterprise Products Partners | Reduce -3.2% | 0.38% | −0.03 |
| COST Costco Wholesale Corp. | Reduce -2.1% | 0.13% | −0.02 |
| TXN Texas Instruments Inc. | Reduce -0.4% | 0.15% | −0.02 |
| CMG Chipotle Mexican Grill Inc. | Reduce -0.1% | 0.10% | −0.01 |
| SMH Vaneck Semiconductor ETF | Reduce -4.5% | 1.36% | −0.01 |
| XLE SS Energy Select Sector | Reduce -3.1% | 0.12% | −0.01 |
| SCHB Schwab US Broad Market ETF | Reduce -13.0% | 0.06% | −0.01 |
| FTNT Fortinet Inc. | Reduce -0.1% | 0.08% | −0.01 |
| HELO JPMorgan Hedged Equity ETF | Reduce -6.7% | 0.07% | −0.01 |
| CLOU Global X Cloud Computing ETF | Reduce -3.2% | 0.06% | −0.01 |
| EXC Exelon Corp. | Reduce -0.8% | 0.06% | −0.01 |
| CW Curtiss-Wright Corp. | Reduce -0.6% | 0.10% | −0.01 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -0.2% | 0.08% | −0.00 |
| GE General Electric | Reduce -1.3% | 0.06% | −0.00 |
| IBM Intl Business Machines Corp. | Reduce -2.4% | 0.08% | −0.00 |
| MS Morgan Stanley | Reduce -5.4% | 0.43% | −0.00 |
| BAC Bank of America Corp. | Reduce -2.8% | 0.11% | −0.00 |
| CEG Constellation Energy | Reduce -0.4% | 0.16% | +0.00 |
| COF Capital One Financial Corp. | Reduce -6.3% | 0.28% | +0.00 |
| GS Goldman Sachs Group Inc. | Reduce -1.0% | 0.07% | +0.00 |
| CNC Centene Corp. | Reduce -4.3% | 0.25% | +0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| FNDX Schwab Fndmntl US LRG Co. ETF | Add +81.3% | 5.02% | +2.17 |
| MGK Vngrd Mrgstr MG CP GR ETF-Ui | Add +16.2% | 3.46% | +0.37 |
| GOOGL Alphabet Inc. Class A | Add +1.6% | 1.85% | +0.35 |
| VOO Vanguard S&P 500 ETF | Add +14.7% | 2.90% | +0.27 |
| AAPL Apple Inc. | Add +1.9% | 11.24% | +0.25 |
| IVES Dan Wedbush AI Rev ETF | Add +210.2% | 0.33% | +0.21 |
| BINC iShares Flex I A ETF-Usd Inc. | Add +11.7% | 5.00% | +0.20 |
| FNDF Schwab Fndmn Intl LRG Co. ETF | Add +5.0% | 3.30% | +0.12 |
| JNJ Johnson & Johnson | Add +0.0% | 2.44% | +0.12 |
| GPIX GLDM SA S&P 500 PR in ETF-US | New | 0.11% | +0.11 |
| VCRM Vanguard Core Tax-Ex Bond | New | 0.11% | +0.11 |
| VTES Vanguard SH Term Tax-Ex Bond | New | 0.11% | +0.11 |
| SCHX Schwab US Large-Cap ETF | Add +24.6% | 0.61% | +0.10 |
| HODL Vaneck Bitcoin ETF | New | 0.10% | +0.10 |
| MINO PIMCO Municipal Income Oppor | New | 0.08% | +0.08 |
| AVGO Broadcom Inc. | Add +64.4% | 0.19% | +0.07 |
| VTI VG Morningstar TS MKT ETF-US | Add +32.6% | 0.34% | +0.07 |
| IXUS iShares Core Intl Stock ETF | Add +11.7% | 0.99% | +0.07 |
| CGDV Cap Group Dividend Value | New | 0.06% | +0.06 |
| GLD SPDR Gold Shares | New | 0.06% | +0.06 |
| FBTC Fidelity Wise Origin Bitcoin | Add +120.2% | 0.16% | +0.06 |
| AMD Advanced Micro Devices | New | 0.06% | +0.06 |
| SUSA iShares ESG Optimized MSCI U | New | 0.06% | +0.06 |
| ROST Ross Stores Inc. | New | 0.06% | +0.06 |
| XOM Exxon Mobil Corp. | Add +17.5% | 0.25% | +0.04 |
| TMO Thermo Fisher Scientific Inc. | Add +3.8% | 0.12% | +0.02 |
| SCHG Schwab US Large-Cap Growth | Add +8.0% | 0.43% | +0.02 |
| SCHM Schwab US Mid Cap ETF | Add +11.3% | 0.26% | +0.02 |
| NEE Nextera Energy Inc. | Add +4.4% | 0.29% | +0.01 |
| WMT Walmart Inc. | Add +16.0% | 0.07% | +0.01 |
| JPM JPMorgan Chase & Co. | Add +7.9% | 0.18% | +0.01 |
| SCHA Schwab US Small-Cap ETF | Add +7.0% | 0.14% | +0.00 |
| QCOM Qualcomm Inc. | Add +4.6% | 0.14% | +0.00 |
| JMUB JPMorgan Municipal ETF | Add +7.5% | 0.07% | +0.00 |
| HYDB iShares High Yield Systemati | Add +2.1% | 0.07% | −0.00 |
| VIG Vanguard Dividend Apprec ETF | Add +0.8% | 0.11% | −0.00 |
| JEPQ JPM Nasdaq Equity Premium | Add +1.0% | 0.16% | −0.01 |
| VOT Vngrd Mrngstr MC GRW ETF-Usd | Add +8.8% | 0.37% | −0.01 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +5.9% | 0.71% | −0.01 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +1.9% | 0.54% | −0.02 |
| TSLA Tesla Inc. | Add +2.4% | 1.11% | −0.03 |
| AMZN Amazon.com Inc. | Add +0.1% | 5.53% | −0.06 |
| JPIE JPMorgan Income ETF | Add +4.4% | 5.76% | −0.12 |
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 |