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.

$6.1bn reported value +12.1% vs Q3 2025

57positions

83.8%in top 10

6 new 19 added 16 reduced 2 sold out vs Q3 2025

Holdings, Q4 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	2,745,610	$1.7bn28.18%	28.18%	Added +254.2k	+254,162 10.2%
2	VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF VT	VT	8,100,494	$1.1bn18.70%	18.70%	Added +2.6m	+2,552,830 46.0%
3	VANGUARD INDEX FDS TOTAL STK MKT VTI	VTI	1,726,016	$578.7m9.47%	9.47%	Added +31.2k	+31,197 1.8%
4	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	9,146,753	$571.4m9.35%	9.35%	Added +799.1k	+799,131 9.6%
5	VANGUARD SCOTTSDALE FDS INTER TERM TREAS VGIT	VGIT	5,577,346	$334.3m5.47%	5.47%	Added +82.1k	+82,081 1.5%
6	VANGUARD MALVERN FDS STRM INFPROIDX VTIP	VTIP	5,645,661	$279.2m4.57%	4.57%	Added +688.4k	+688,358 13.9%
7	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	3,264,859	$175.5m2.87%	2.87%	Added +62.8k	+62,773 2.0%
8	VANGUARD SCOTTSDALE FDS LONG TERM TREAS VGLT	VGLT	2,510,756	$140.1m2.29%	2.29%	Added +483.7k	+483,738 23.9%
9	ISHARES TR CORE US AGGBD ET AGG	AGG	955,065	$95.4m1.56%	1.56%	Reduced -939.6k	-939,592 -49.6%
10	ISHARES TR CORE S&P500 ETF IVV	IVV	120,172	$82.3m1.35%	1.35%	Reduced -24.0k	-24,029 -16.7%
11	VANGUARD SCOTTSDALE FDS SHORT TERM TREAS VGSH	VGSH	1,202,093	$70.6m1.16%	1.16%	Reduced -59.7k	-59,704 -4.7%
12	ISHARES TR CORE MSCI EAFE IEFA	IEFA	777,324	$69.5m1.14%	1.14%	Added +74.9k	+74,917 10.7%
13	ISHARES GOLD TR ISHARES NEW IAU	IAU	750,805	$60.9m1.00%	1.00%	Reduced -122.4k	-122,435 -14.0%
14	ISHARES TR 0-3 MNTH TREASRY SGOV	SGOV	563,997	$56.6m0.93%	0.93%	Reduced -218.6k	-218,645 -27.9%
15	AMERICAN CENTY ETF TR AVANTIS US SMALL AVSC	AVSC	922,735	$54.2m0.89%	0.89%	Added +85.1k	+85,118 10.2%
16	VANGUARD BD INDEX FDS TOTAL BND MRKT BND	BND	716,492	$53.1m0.87%	0.87%	Added +87.4k	+87,418 13.9%
17	ISHARES INC CORE MSCI EMKT IEMG	IEMG	723,355	$48.6m0.80%	0.80%	Reduced -40.0k	-39,954 -5.2%
18	VANGUARD SCOTTSDALE FDS VNG RUS1000VAL VONV	VONV	526,321	$48.6m0.80%	0.80%	Reduced -3.8k	-3,802 -0.7%
19	ISHARES TR RUS 1000 ETF IWB	IWB	124,298	$46.4m0.76%	0.76%	Reduced -22.0k	-22,025 -15.1%
20	VANGUARD INDEX FDS GROWTH ETF VUG	VUG	89,359	$43.6m0.71%	0.71%	Reduced -13.7k	-13,674 -13.3%
21	ISHARES TR MSCI ACWI ETF ACWI	ACWI	267,543	$37.9m0.62%	0.62%	Added +7.1k	+7,066 2.7%
22	ISHARES TR MSCI USA QLT FCT QUAL	QUAL	153,029	$30.4m0.50%	0.50%	Added +1.5k	+1,483 1.0%
23	VANGUARD WORLD FD ENERGY ETF VDE	VDE	211,153	$26.6m0.44%	0.44%	Unchanged
24	VANGUARD SCOTTSDALE FDS VNG RUS1000GRW VONG	VONG	208,274	$25.4m0.41%	0.41%	Reduced -1.6k	-1,634 -0.8%
25	VANECK ETF TRUST BDC INCOME ETF BIZD	BIZD	1,747,956	$24.8m0.41%	0.41%	Added +1.3m	+1,286,774 279.0%
26	VANGUARD WORLD FD ESG US STK ETF ESGV	ESGV	200,115	$24.2m0.40%	0.40%	Added +137.1k	+137,123 217.7%
27	ADVISORS INNER CIRCLE FD III GQG US EQUITY ET GQGU	GQGU	905,449	$22.2m0.36%	0.36%	Unchanged
28	VANGUARD STAR FDS VG TL INTL STK F VXUS	VXUS	271,724	$20.5m0.34%	0.34%	Unchanged
29	SPDR INDEX SHS FDS GLB NAT RESRCE GNR	GNR	327,747	$20.4m0.33%	0.33%	Unchanged
30	DOUBLELINE ETF TRUST MORTGAGE ETF DMBS	DMBS	408,860	$20.3m0.33%	0.33%	New
31	KARMAN HLDGS INC COMMON STOCK KRMN	KRMN	249,011	$18.2m0.30%	0.30%	Unchanged
32	EA SERIES TRUST JLENS 500 JEWISH TOV	TOV	618,941	$17.8m0.29%	0.29%	Reduced -456.3k	-456,281 -42.4%
33	ISHARES TR 7-10 YR TRSY BD IEF	IEF	175,948	$16.9m0.28%	0.28%	Unchanged
34	VANGUARD INDEX FDS VALUE ETF VTV	VTV	81,110	$15.5m0.25%	0.25%	Unchanged
35	VANGUARD BD INDEX FDS SHORT TRM BOND BSV	BSV	186,624	$14.7m0.24%	0.24%	Added +126.7k	+126,731 211.6%
36	ISHARES TR TIPS BD ETF TIP	TIP	124,184	$13.6m0.22%	0.22%	Added +64.7k	+64,688 108.7%
37	VANGUARD ADMIRAL FDS INC SMLLCP 600 IDX VIOO	VIOO	87,956	$9.8m0.16%	0.16%	Unchanged
38	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	14,105	$9.6m0.16%	0.16%	Added +5	+5 0.0%
39	ISHARES TR 0-5 YR TIPS ETF STIP	STIP	93,853	$9.6m0.16%	0.16%	Unchanged
40	TIDAL ETF TR ADASINA SOCIAL JSTC	JSTC	415,727	$8.4m0.14%	0.14%	New
41	VANGUARD INDEX FDS REAL ESTATE ETF VNQ	VNQ	94,533	$8.4m0.14%	0.14%	Unchanged
42	ISHARES TR RUSSELL 2000 ETF IWM	IWM	29,655	$7.3m0.12%	0.12%	New
43	ISHARES TR ESG AW MSCI EAFE ESGD	ESGD	70,222	$6.7m0.11%	0.11%	New
44	ISHARES TR RUSSELL 3000 ETF IWV	IWV	14,597	$5.6m0.09%	0.09%	Unchanged
45	VANGUARD SCOTTSDALE FDS VNG RUS1000IDX VONE	VONE	13,818	$4.3m0.07%	0.07%	Reduced -695	-695 -4.8%
46	VANGUARD MUN BD FDS TAX EXEMPT BD VTEB	VTEB	79,200	$4.0m0.07%	0.07%	Added +17.4k	+17,438 28.2%
47	VANGUARD WORLD FD ESG INTL STK ETF VSGX	VSGX	32,277	$2.3m0.04%	0.04%	Reduced -5.7k	-5,677 -15.0%
48	ISHARES INC MSCI CDA ETF EWC	EWC	40,962	$2.2m0.04%	0.04%	Reduced -36.3k	-36,282 -47.0%
49	ISHARES TR US TREAS BD ETF GOVT	GOVT	82,896	$1.9m0.03%	0.03%	Reduced -562.0k	-561,974 -87.2%
50	VANGUARD INDEX FDS MID CAP ETF VO	VO	4,992	$1.4m0.02%	0.02%	Unchanged
51	ISHARES TR RUS MID CAP ETF IWR	IWR	12,198	$1.2m0.02%	0.02%	Unchanged
52	INVESCO EXCHANGE TRADED FD T S&P500 EQL WGT RSP	RSP	5,412	$1.0m0.02%	0.02%	Unchanged
53	VANECK ETF TRUST ISRAEL ETF ISRA	ISRA	15,615	$918.2k0.02%	0.02%	Unchanged
54	ISHARES INC ESG AWR MSCI EM ESGE	ESGE	18,650	$823.8k0.01%	0.01%	New
55	GLOBAL X FDS GLOBAL X URANIUM URA	URA	19,100	$816.1k0.01%	0.01%	Unchanged
56	ISHARES TR CORE 1 5 YR USD ISTB	ISTB	14,033	$684.1k0.01%	0.01%	Reduced -33.0k	-33,000 -70.2%
57	ISHARES BITCOIN TRUST ETF SHS BEN INT IBIT	IBIT	12,531	$622.2k0.01%	0.01%	New

Sold out since Q3 2025

Security	Ticker	Shares held before	Value then
WORLD GOLD TR GLDM	GLDM	30,631	$2.3m30.6k shares
VANGUARD INDEX FDS VXF	VXF	1,229	$257.3k1.2k shares