13F Insight
DOSSIER · 13F-HR · Q4 2025

Alaska Permanent Fund Corp

$1.6B in tracked AUM across 7 positions as of Q4 2025.

AP
CIK 0001582681 · last filed Dec 31, 2025
Total AUM
$1.6B
as of Q4 2025
Holdings
7
—
positions
Whale Score
73
73
strong
Activity
—
no data
changes this Q
AI Analysis · Q4 2025

Portfolio Overview

The Alaska Permanent Fund Corp (APFC) reported a significant contraction in its reported portfolio for this specific 13F filing, with the total asset value dropping by 55.4%, decreasing from approximately $1.69 billion in the previous quarter to $751.01 million as of September 30, 2025. This reduction is not solely attributable to market performance but is driven by a substantial de-risking and capital reallocation strategy. The portfolio has become extremely concentrated...

Key Holdings

The portfolio is currently dominated by SPDR Series Trust, which accounts for approximately 84.5% of the total assets across three distinct positions.

  1. Top Position: The largest holding is a SPDR Series Trust position valued at $292.71 million (38.98% of the portfolio), comprising 2.24 million shares.
  2. Second Position: The second-largest holding is another SPDR Series Trust position valued at $270.01 million (35.95% of the portfolio), holding 2.42 million shares.
  3. Gold Exposure: The third largest holding is the iShares Gold Trust (IAUM) within the Financial Services sector, valued at $116.32 million (15.49% of the portfolio). This represents the only non-SPDR asset in the current top four.
  4. Fourth Position: A smaller SPDR Series Trust position rounds out the list at $71.97 million (9.58% of the portfolio).

Quarter at a glance — Q4 2025

Position-change comparison pending.

No quarter-over-quarter changes available.

Top 10 holdings

By portfolio weight as of Q4 2025.

#HoldingValueSharesWeight
01
IVV
ISHARES TR
$920M1.3M58.8%02
ONEV
SPDR SERIES TRUST
$257M1.9M16.4%03
ONEY
SPDR SERIES TRUST
$238M2.0M15.2%04
IAUM
ISHARES GOLD TR
$143M3.0M9.2%05
ONEO
SPDR SERIES TRUST
$5M35K0.3%06
HYG
ISHARES TR
$346K4K0.0%

Filing history

2025Q4Dec 31
$1.6B▲ 108.1%
7 positionsView →2025Q3Sep 30
$751M▼ 55.4%
4 positionsView →2025Q2Jun 30
$1.7B▼ 43.5%
11 positionsLocked2025Q1Mar 31
$3.0B▼ 55.7%
348 positionsLocked2024Q4Dec 31
$6.7B▼ 1.3%
787 positionsLocked2024Q3Sep 30
$6.8B▲ 1.2%
794 positionsLocked2024Q2Jun 30
$6.8B▼ 0.6%
795 positionsLocked2024Q1Mar 31
$6.8B▲ 12.0%
805 positionsLocked2023Q4Dec 31
$6.1B▲ 14.2%
612 positionsLocked2023Q3Sep 30
$5.3B▲ 4.5%
568 positionsLocked2023Q2Jun 30
$5.1B▼ 17.1%
564 positionsLocked2022Q4Dec 31
$6.1B▼ 12.5%
582 positionsLocked
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