Cambridge Associates LLC /ma/ /adv

BOSTON, MA

$6.9bn in 56 US stocks at the end of 30 June 2026. The top 10 are 84.2% of the money. It changed about 4.0% of the portfolio this quarter.

Value

$6.9bn

Stocks

Top 10 share

84.2%

Turnover

4.0%

What changed this quarter

New

Bought for the first time this quarter.

Ishares Core 30/70AOK
0.1% of the fund
GMO ETF TrustQLTY
<0.1% of the fund
2023 ETF Series TrustEAGL
<0.1% of the fund

Added

Bought more of a stock they already held.

Vanguard Intl Equity Index FVT
20.5% of the fund
+5%
Vanguard Scottsdale FDSVGIT
5.4% of the fund
+3%
Vanguard Malvern FDSVTIP
4.1% of the fund
+4%
Vanguard Intl Equity Index FVWO
2.7% of the fund
+5%
Ishares TRAGG
1.9% of the fund
+34%
Vanguard Scottsdale FDSVGSH
1.5% of the fund
+10%
Ishares TRIEFA
1.3% of the fund
+3%
American Centy ETF TRAVSC
1.0% of the fund
+3%
Vanguard BD Index FDSBND
0.8% of the fund
+8%
Ishares TRIDEV
0.5% of the fund
+61%
Vanguard BD Index FDSBSV
0.4% of the fund
+103%
Doubleline ETF TrustDMBS
0.3% of the fund
+8%
State STR Spdr S&P 500 ETF TSPY
0.2% of the fund
+2%
Invesco Exchange Traded FD TRSP
0.2% of the fund
+1027%

Cut

Sold some of their stake.

Vanguard Index FDSVTI
9.0% of the fund
-2%
Ishares TRIVV
1.4% of the fund
-19%
IsharesIEMG
1.0% of the fund
-12%
Ishares Gold TRIAU
0.8% of the fund
-4%
Ishares TRACWI
0.5% of the fund
-19%
Vanguard Specialized FundsVIG
0.5% of the fund
-30%
Vanguard Scottsdale FDSVONG
0.4% of the fund
-3%
Ishares TRSGOV
0.4% of the fund
-45%
Vaneck ETF TrustBIZD
0.3% of the fund
-21%
Ishares TRTIP
0.3% of the fund
-28%
Spdr Index SHS FDSGNR
0.2% of the fund
-25%
Vanguard World FDESGV
0.2% of the fund
-52%
Vanguard Admiral FDSVIOO
0.2% of the fund
-3%
Karman HoldingsKRMN
<0.1% of the fund
-72%
Tidal Trust IJSTC
<0.1% of the fund
-39%
Vanguard MUN BD FDSVTEB
<0.1% of the fund
-29%
Vanguard World FDVSGX
<0.1% of the fund
-7%

Sold out

Sold their entire stake.

Vanguard Star FDSVXUS
-100%
Vanguard Index FDSVTV
-100%
Ishares TRESGD
-100%
Ishares TRIJH
-100%
IsharesESGE
-100%
Invesco Exch Traded FD TR IIBKLN
-100%
Global X FDSURA
-100%

Holdings

Vanguard Index FDSVOO
Share
27.3%
Value
$1.9bn
Shares
2,754,197
Held
Vanguard Intl Equity Index FVT
Share
20.5%
Value
$1.4bn
Shares
9,031,741
+5%
Vanguard Tax-Managed FDSVEA
Share
9.7%
Value
$672m
Shares
9,431,210
Held
Vanguard Index FDSVTI
Share
9.0%
Value
$621m
Shares
1,678,930
-2%
Vanguard Scottsdale FDSVGIT
Share
5.4%
Value
$374m
Shares
6,332,861
+3%
Vanguard Malvern FDSVTIP
Share
4.1%
Value
$285m
Shares
5,683,131
+4%
Vanguard Intl Equity Index FVWO
Share
2.7%
Value
$184m
Shares
3,083,657
+5%
Vanguard Scottsdale FDSVGLT
Share
2.2%
Value
$151m
Shares
2,732,359
Held
Ishares TRAGG
Share
1.9%
Value
$129m
Shares
1,308,098
+34%
Vanguard Scottsdale FDSVGSH
Share
1.5%
Value
$107m
Shares
1,835,215
+10%
Ishares TRIVV
Share
1.4%
Value
$95m
Shares
126,494
-19%
Ishares TRIEFA
Share
1.3%
Value
$88m
Shares
909,003
+3%
IsharesIEMG
Share
1.0%
Value
$70m
Shares
850,353
-12%
American Centy ETF TRAVSC
Share
1.0%
Value
$70m
Shares
954,982
+3%
Vanguard BD Index FDSBND
Share
0.8%
Value
$56m
Shares
767,510
+8%
Vanguard Scottsdale FDSVONV
Share
0.8%
Value
$54m
Shares
509,576
Held
Ishares Gold TRIAU
Share
0.8%
Value
$53m
Shares
707,800
-4%
Ishares TRIWB
Share
0.7%
Value
$51m
Shares
124,298
Held
Vanguard Index FDSVUG
Share
0.7%
Value
$47m
Shares
540,084
Held
Ishares TRACWI
Share
0.5%
Value
$35m
Shares
222,227
-19%
Vanguard Specialized FundsVIG
Share
0.5%
Value
$35m
Shares
146,581
-30%
Ishares TRIDEV
Share
0.5%
Value
$35m
Shares
388,432
+61%
Ishares TRQUAL
Share
0.5%
Value
$34m
Shares
153,029
Held
Vanguard BD Index FDSBSV
Share
0.4%
Value
$29m
Shares
378,196
+103%
Vanguard Scottsdale FDSVONG
Share
0.4%
Value
$26m
Shares
201,440
-3%
Ishares TRSGOV
Share
0.4%
Value
$25m
Shares
244,364
-45%
Vanguard World FDVDE
Share
0.4%
Value
$24m
Shares
161,826
Held
Vaneck ETF TrustBIZD
Share
0.3%
Value
$24m
Shares
1,907,532
-21%
Advisors Inner Circle FD IIIGQGU
Share
0.3%
Value
$22m
Shares
875,949
Held
Doubleline ETF TrustDMBS
Share
0.3%
Value
$22m
Shares
441,639
+8%
Ishares TRTIP
Share
0.3%
Value
$20m
Shares
184,819
-28%
EA Series TrustTOV
Share
0.3%
Value
$20m
Shares
626,403
Held
Ishares TRIEF
Share
0.3%
Value
$19m
Shares
202,783
Held
State STR Spdr S&P 500 ETF TSPY
Share
0.2%
Value
$17m
Shares
23,071
+2%
Spdr Index SHS FDSGNR
Share
0.2%
Value
$15m
Shares
229,803
-25%
Vanguard World FDESGV
Share
0.2%
Value
$13m
Shares
101,457
-52%
Invesco Exchange Traded FD TRSP
Share
0.2%
Value
$13m
Shares
61,010
+1027%
Vanguard Admiral FDSVIOO
Share
0.2%
Value
$12m
Shares
85,513
-3%
Ishares TRSTIP
Share
0.1%
Value
$10m
Shares
98,340
Held
Vanguard Index FDSVNQ
Share
0.1%
Value
$9m
Shares
94,533
Held
Ishares TRIWM
Share
0.1%
Value
$8m
Shares
26,269
Held
Ishares Core 30/70AOK
Share
0.1%
Value
$7m
Shares
170,773
New
Ishares TRIWV
Share
<0.1%
Value
$6m
Shares
14,597
Held
GMO ETF TrustQLTY
Share
<0.1%
Value
$6m
Shares
148,114
New
Vanguard Scottsdale FDSVONE
Share
<0.1%
Value
$5m
Shares
13,818
Held
Karman HoldingsKRMN
Share
<0.1%
Value
$3m
Shares
68,493
-72%
Tidal Trust IJSTC
Share
<0.1%
Value
$3m
Shares
148,918
-39%
Vanguard MUN BD FDSVTEB
Share
<0.1%
Value
$3m
Shares
57,113
-29%
2023 ETF Series TrustEAGL
Share
<0.1%
Value
$3m
Shares
84,697
New
Vanguard World FDVSGX
Share
<0.1%
Value
$3m
Shares
31,570
-7%
Vanguard Index FDSVO
Share
<0.1%
Value
$2m
Shares
19,968
Held
Ishares TRIWR
Share
<0.1%
Value
$1m
Shares
12,198
Held
Vaneck ETF TrustISRA
Share
<0.1%
Value
$1m
Shares
15,615
Held
Ishares Bitcoin Trust ETFIBIT
Share
<0.1%
Value
$981,955
Shares
29,497
Held
Ishares TRISTB
Share
<0.1%
Value
$677,092
Shares
14,033
Held
IsharesEWC
Share
<0.1%
Value
$545,908
Shares
9,471
Held

Company	Share of fund	Value	Shares	Change
Vanguard Index FDSVOO	27.3%	$1.9bn	2,754,197	Held
Vanguard Intl Equity Index FVT	20.5%	$1.4bn	9,031,741	+5%
Vanguard Tax-Managed FDSVEA	9.7%	$672m	9,431,210	Held
Vanguard Index FDSVTI	9.0%	$621m	1,678,930	-2%
Vanguard Scottsdale FDSVGIT	5.4%	$374m	6,332,861	+3%
Vanguard Malvern FDSVTIP	4.1%	$285m	5,683,131	+4%
Vanguard Intl Equity Index FVWO	2.7%	$184m	3,083,657	+5%
Vanguard Scottsdale FDSVGLT	2.2%	$151m	2,732,359	Held
Ishares TRAGG	1.9%	$129m	1,308,098	+34%
Vanguard Scottsdale FDSVGSH	1.5%	$107m	1,835,215	+10%
Ishares TRIVV	1.4%	$95m	126,494	-19%
Ishares TRIEFA	1.3%	$88m	909,003	+3%
IsharesIEMG	1.0%	$70m	850,353	-12%
American Centy ETF TRAVSC	1.0%	$70m	954,982	+3%
Vanguard BD Index FDSBND	0.8%	$56m	767,510	+8%
Vanguard Scottsdale FDSVONV	0.8%	$54m	509,576	Held
Ishares Gold TRIAU	0.8%	$53m	707,800	-4%
Ishares TRIWB	0.7%	$51m	124,298	Held
Vanguard Index FDSVUG	0.7%	$47m	540,084	Held
Ishares TRACWI	0.5%	$35m	222,227	-19%
Vanguard Specialized FundsVIG	0.5%	$35m	146,581	-30%
Ishares TRIDEV	0.5%	$35m	388,432	+61%
Ishares TRQUAL	0.5%	$34m	153,029	Held
Vanguard BD Index FDSBSV	0.4%	$29m	378,196	+103%
Vanguard Scottsdale FDSVONG	0.4%	$26m	201,440	-3%
Ishares TRSGOV	0.4%	$25m	244,364	-45%
Vanguard World FDVDE	0.4%	$24m	161,826	Held
Vaneck ETF TrustBIZD	0.3%	$24m	1,907,532	-21%
Advisors Inner Circle FD IIIGQGU	0.3%	$22m	875,949	Held
Doubleline ETF TrustDMBS	0.3%	$22m	441,639	+8%
Ishares TRTIP	0.3%	$20m	184,819	-28%
EA Series TrustTOV	0.3%	$20m	626,403	Held
Ishares TRIEF	0.3%	$19m	202,783	Held
State STR Spdr S&P 500 ETF TSPY	0.2%	$17m	23,071	+2%
Spdr Index SHS FDSGNR	0.2%	$15m	229,803	-25%
Vanguard World FDESGV	0.2%	$13m	101,457	-52%
Invesco Exchange Traded FD TRSP	0.2%	$13m	61,010	+1027%
Vanguard Admiral FDSVIOO	0.2%	$12m	85,513	-3%
Ishares TRSTIP	0.1%	$10m	98,340	Held
Vanguard Index FDSVNQ	0.1%	$9m	94,533	Held
Ishares TRIWM	0.1%	$8m	26,269	Held
Ishares Core 30/70AOK	0.1%	$7m	170,773	New
Ishares TRIWV	<0.1%	$6m	14,597	Held
GMO ETF TrustQLTY	<0.1%	$6m	148,114	New
Vanguard Scottsdale FDSVONE	<0.1%	$5m	13,818	Held
Karman HoldingsKRMN	<0.1%	$3m	68,493	-72%
Tidal Trust IJSTC	<0.1%	$3m	148,918	-39%
Vanguard MUN BD FDSVTEB	<0.1%	$3m	57,113	-29%
2023 ETF Series TrustEAGL	<0.1%	$3m	84,697	New
Vanguard World FDVSGX	<0.1%	$3m	31,570	-7%
Vanguard Index FDSVO	<0.1%	$2m	19,968	Held
Ishares TRIWR	<0.1%	$1m	12,198	Held
Vaneck ETF TrustISRA	<0.1%	$1m	15,615	Held
Ishares Bitcoin Trust ETFIBIT	<0.1%	$981,955	29,497	Held
Ishares TRISTB	<0.1%	$677,092	14,033	Held
IsharesEWC	<0.1%	$545,908	9,471	Held

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 51.4% since 30 June 2025.

Where the money is

Industrials0.0%

Other100.0%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.