Instuitional Investor - Permanent Capital Management, Lp

13F Holdings

Filing Period:

No.	Security	Ticker	Shares	Value	% Port
1.	Vanguard Intl Equity Index Funds	VWO	1,160,445	$182,131,839	24.39%
2.	Vanguard Index Fds - S&P 500 ETF SHS		253,227	$173,918,722	23.29%
3.	Ishares Trust	IEF	651,553	$64,490,746	8.64%
4.	Vanguard Tax-Managed Fds		675,379	$48,120,730	6.44%
5.	Vanguard Scottsdale Funds	VCIT	600,884	$35,440,116	4.75%