CAMBRIDGE ASSOCIATES LLC /MA/ /ADV

BOSTON, MA · CIK 733986 · 13F filing filed 2026-06-23

No investment adviser registration (Form ADV) found for this filer. It may be a parent company whose subsidiaries are the registered advisers, a bank or insurer, or a manager based outside the US.

$4.5bn reported value +30.3% vs Q1 2025

46positions

83.9%in top 10

2 new 15 added 15 reduced 2 sold out vs Q1 2025

Holdings, Q2 2025

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	VANGUARD INDEX FDS S&P 500 ETF SHS VOO	VOO	2,364,420	$1.3bn29.58%	29.58%	Reduced -19.9k	-19,876 -0.8%
2	VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF VT	VT	5,554,415	$714.1m15.73%	15.73%	Added +764.5k	+764,544 16.0%
3	ISHARES TR CORE US AGGBD ET AGG	AGG	3,440,357	$341.3m7.52%	7.52%	Added +2.5m	+2,525,848 276.2%
4	ISHARES TR MSCI EAFE ETF EFA	EFA	3,508,740	$313.6m6.91%	6.91%	New
5	VANGUARD MALVERN FDS STRM INFPROIDX VTIP	VTIP	4,810,623	$241.8m5.33%	5.33%	Added +563.4k	+563,446 13.3%
6	VANGUARD SCOTTSDALE FDS INTER TERM TREAS VGIT	VGIT	3,757,356	$224.6m4.95%	4.95%	Added +731.0k	+731,008 24.1%
7	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	640,269	$194.7m4.29%	4.29%	Added +78.7k	+78,735 14.0%
8	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	3,220,210	$183.8m4.05%	4.05%	Added +2.1k	+2,066 0.1%
9	VANGUARD SCOTTSDALE FDS LONG TERM TREAS VGLT	VGLT	2,644,422	$136.5m3.01%	3.01%	Added +575.2k	+575,214 27.8%
10	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	2,298,708	$113.8m2.51%	2.51%	Added +16.3k	+16,293 0.7%
11	ISHARES TR CORE S&P500 ETF IVV	IVV	127,502	$79.2m1.74%	1.74%	Reduced -20.3k	-20,345 -13.8%
12	ISHARES TR MSCI USA QLT FCT QUAL	QUAL	319,388	$58.4m1.29%	1.29%	Reduced -24.4k	-24,372 -7.1%
13	ISHARES GOLD TR ISHARES NEW IAU	IAU	854,826	$53.1m1.17%	1.17%	Added +294.2k	+294,198 52.5%
14	VANGUARD SCOTTSDALE FDS SHORT TERM TREAS VGSH	VGSH	867,511	$50.3m1.11%	1.11%	Added +393.0k	+392,985 82.8%
15	ISHARES TR RUS 1000 ETF IWB	IWB	143,760	$48.8m1.08%	1.08%	Unchanged
16	ISHARES TR CORE MSCI EAFE IEFA	IEFA	558,980	$46.7m1.03%	1.03%	Reduced -39.2k	-39,209 -6.5%
17	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	106,315	$46.6m1.03%	1.03%	Unchanged
18	VANGUARD SCOTTSDALE FDS VNG RUS1000VAL VONV	VONV	519,237	$44.2m0.97%	0.97%	Added +43.4k	+43,358 9.1%
19	ISHARES INC CORE MSCI EMKT IEMG	IEMG	626,187	$37.6m0.83%	0.83%	Reduced -158.4k	-158,447 -20.2%
20	ISHARES TR MSCI ACWI ETF ACWI	ACWI	232,948	$30.0m0.66%	0.66%	Reduced -5.8k	-5,785 -2.4%
21	ISHARES TR 7-10 YR TRSY BD IEF	IEF	312,963	$30.0m0.66%	0.66%	Added +120.3k	+120,255 62.4%
22	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	391,617	$28.8m0.64%	0.64%	Added +208.9k	+208,884 114.3%
23	VANGUARD SCOTTSDALE FDS VNG RUS1000GRW VONG	VONG	206,440	$22.5m0.50%	0.50%	Unchanged
24	VANGUARD WORLD FD ENERGY ETF VDE	VDE	184,100	$21.9m0.48%	0.48%	Added +16.7k	+16,692 10.0%
25	VANGUARD STAR FDS VG TL INTL STK F VXUS	VXUS	271,724	$18.8m0.41%	0.41%	Reduced -255.6k	-255,618 -48.5%
26	SPDR INDEX SHS FDS GLB NAT RESRCE GNR	GNR	309,990	$16.8m0.37%	0.37%	Unchanged
27	EA SERIES TRUST JLENS 500 JEWISH TOV	TOV	636,677	$16.6m0.37%	0.37%	New
28	ISHARES TR US TREAS BD ETF GOVT	GOVT	644,870	$14.8m0.33%	0.33%	Reduced -263.2k	-263,175 -29.0%
29	VANGUARD INDEX FDS VALUE ETF VTV	VTV	81,110	$14.3m0.32%	0.32%	Unchanged
30	VANGUARD ADMIRAL FDS INC SMLLCP 600 IDX VIOO	VIOO	87,956	$8.9m0.20%	0.20%	Unchanged
31	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	14,034	$8.7m0.19%	0.19%	Reduced -7.1k	-7,108 -33.6%
32	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	62,903	$5.6m0.12%	0.12%	Unchanged
33	ISHARES TR RUSSELL 3000 ETF IWV	IWV	14,597	$5.1m0.11%	0.11%	Added +534	+534 3.8%
34	VANGUARD BD INDEX FDS SHORT TRM BOND BSV	BSV	59,893	$4.7m0.10%	0.10%	Reduced -28.7k	-28,710 -32.4%
35	VANGUARD WORLD FD ESG US STK ETF ESGV	ESGV	30,566	$3.4m0.07%	0.07%	Reduced -97.1k	-97,066 -76.0%
36	AMERICAN CENTY ETF TR AVANTIS US SMALL AVSC	AVSC	55,103	$2.8m0.06%	0.06%	Unchanged
37	ISHARES TR CORE 1 5 YR USD ISTB	ISTB	47,033	$2.3m0.05%	0.05%	Unchanged
38	ISHARES TR 0-5 YR TIPS ETF STIP	STIP	22,105	$2.3m0.05%	0.05%	Reduced -4.8k	-4,766 -17.7%
39	WORLD GOLD TR SPDR GLD MINIS GLDM	GLDM	30,631	$2.0m0.04%	0.04%	Unchanged
40	ISHARES TR TIPS BD ETF TIP	TIP	17,842	$2.0m0.04%	0.04%	Reduced -93.0k	-93,041 -83.9%
41	VANGUARD WORLD FD ESG INTL STK ETF VSGX	VSGX	20,232	$1.3m0.03%	0.03%	Reduced -56.0k	-55,951 -73.4%
42	ISHARES TR 10+ YR INVST GRD IGLB	IGLB	20,000	$1.0m0.02%	0.02%	Unchanged
43	VANECK ETF TRUST ISRAEL ETF ISRA	ISRA	15,615	$809.4k0.02%	0.02%	Unchanged
44	GLOBAL X FDS GLOBAL X URANIUM URA	URA	19,100	$741.3k0.02%	0.02%	Unchanged
45	ISHARES INC MSCI CDA ETF EWC	EWC	15,450	$713.8k0.02%	0.02%	Reduced -4.8k	-4,750 -23.5%
46	SPDR GOLD TR GOLD SHS GLD	GLD	2,196	$669.4k0.01%	0.01%	Unchanged

Sold out since Q1 2025

Security	Ticker	Shares held before	Value then
VANGUARD MUN BD FDS VTEB	VTEB	59,172	$2.9m59.2k shares
ISHARES TR TLT	TLT	2,749	$250.2k2.7k shares