NEPC LLC

Boston, MA · CIK 1424799 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 1990 · limited liability company

Assets managed$152.7bn
Staff379 · 132 in investment roles
Main clients (by assets)Pension plans 64%, Companies 15%, Charities 10%
Private funds4 · $2.3bn gross assets
Form ADV · 2026-09-22SEC adviser record

Kindinstitutions
Others nearbyBoston, MA, Chicago, IL, San Francisco, CA, Atlanta, GA, Las Vegas, NV, Charlotte, NC

As an employer

Offices in1 country
Private fundsother private 4

Where they work

people there (dot area)number not reportedmain officeHover or tap a dot. Australian and UK companies are placed at their business or registered address, with their staff across the whole country.

Offices

From Form ADV: the main office and the other offices where it does advisory work (at most the 25 largest), with the people doing investment work at each. “About” is worked out: the firm's investment staff less its other offices. Each city links to the other managers there.

City	Country	People
Boston, MA (main office)United States	United States	about 103
Chicago, ILUnited States	United States	10
San Francisco, CAUnited States	United States	7
Atlanta, GAUnited States	United States	6
Las Vegas, NVUnited States	United States	4
Charlotte, NCUnited States	United States	2

Map: places from GeoNames (CC BY 4.0), outlines from Natural Earth.

$5.4bn reported value +6.7% vs Q1 2026

53positions

75.1%in top 10

2 new 16 added 16 reduced 0 sold out vs Q1 2026

Holdings, Q2 2026

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	941,895	$646.9m12.07%	12.07%	Reduced -36.3k	-36,259 -3.7%
2	VANGUARD SCOTTSDALE FDS INT-TERM CORP VCIT	VCIT	7,419,110	$613.2m11.44%	11.44%	Added +1.0m	+1,028,339 16.1%
3	VANGUARD SCOTTSDALE FDS INTER TERM TREAS VGIT	VGIT	8,475,832	$499.9m9.33%	9.33%	Added +338.0k	+337,995 4.2%
4	VANGUARD SCOTTSDALE FDS SHRT TRM CORP BD VCSH	VCSH	6,254,317	$494.3m9.22%	9.22%	Added +188.8k	+188,750 3.1%
5	VANGUARD SCOTTSDALE FDS LONG TERM TREAS VGLT	VGLT	8,860,856	$488.9m9.12%	9.12%	Added +457.8k	+457,791 5.5%
6	VANGUARD SCOTTSDALE FDS TOTAL CORP BND VTC	VTC	4,943,439	$379.7m7.08%	7.08%	Added +260.6k	+260,586 5.6%
7	VANGUARD TAX-MANAGED FDS VAN FTSE DEV MKT VEA	VEA	4,298,995	$306.3m5.72%	5.72%	Reduced -188.4k	-188,388 -4.2%
8	SCHWAB STRATEGIC TR US TIPS ETF SCHP	SCHP	8,321,737	$220.5m4.12%	4.12%	Added +374.3k	+374,251 4.7%
9	ISHARES TR BROAD USD HIGH USHY	USHY	5,230,809	$193.6m3.61%	3.61%	Unchanged
10	VANGUARD INTL EQUITY INDEX F FTSE EMR MKT ETF VWO	VWO	3,017,415	$180.1m3.36%	3.36%	Unchanged
11	VANGUARD MALVERN FDS CORE BD ETF VCRB	VCRB	2,299,200	$177.6m3.31%	3.31%	Reduced -32.5k	-32,500 -1.4%
12	VANGUARD INDEX FDS EXTEND MKT ETF VXF	VXF	605,088	$149.0m2.78%	2.78%	Reduced -21.4k	-21,447 -3.4%
13	VANGUARD INDEX FDS VALUE ETF VTV	VTV	648,293	$141.3m2.64%	2.64%	Reduced -56.6k	-56,627 -8.0%
14	VANGUARD INTL EQUITY INDEX F TT WRLD ST ETF VT	VT	800,713	$125.7m2.35%	2.35%	Reduced -81.1k	-81,121 -9.2%
15	VANGUARD SCOTTSDALE FDS SHORT TERM TREAS VGSH	VGSH	1,993,299	$116.0m2.16%	2.16%	Unchanged
16	ISHARES TR 0-5YR HI YL CP SHYG	SHYG	2,632,283	$111.6m2.08%	2.08%	Unchanged
17	ISHARES TR GLOBAL REIT ETF REET	REET	2,080,016	$57.5m1.07%	1.07%	Unchanged
18	WORLD GOLD TR SPDR GLD MINIS GLDM	GLDM	664,100	$52.7m0.98%	0.98%	Added +147.7k	+147,662 28.6%
19	ISHARES TR GLB INFRASTR ETF IGF	IGF	781,673	$52.1m0.97%	0.97%	Unchanged
20	ABRDN ETFS BBRG ALL COMD K1 BCI	BCI	2,308,438	$51.6m0.96%	0.96%	Unchanged
21	SPDR INDEX SHS FDS GLB NAT RESRCE GNR	GNR	731,730	$49.3m0.92%	0.92%	Unchanged
22	SPDR SER TR PORTFOLIO CRPORT SPBO	SPBO	1,669,124	$48.5m0.90%	0.90%	Added +944.9k	+944,897 130.5%
23	SPDR S&P 500 ETF TR TR UNIT SPY	SPY	33,248	$24.8m0.46%	0.46%	Reduced -6.8k	-6,777 -16.9%
24	ISHARES TR CORE MSCI EAFE IEFA	IEFA	253,188	$24.5m0.46%	0.46%	Added +18	+18 0.0%
25	ISHARES TR RUSSELL 3000 ETF IWV	IWV	46,031	$19.6m0.37%	0.37%	Unchanged
26	SPDR SERIES TRUST PORTFLI HIGH YLD SPHY	SPHY	750,656	$17.6m0.33%	0.33%	Added +420.4k	+420,424 127.3%
27	ISHARES INC CORE MSCI EMKT IEMG	IEMG	183,589	$15.2m0.28%	0.28%	Added +1	+1 0.0%
28	ISHARES TR RUSSELL 2000 ETF IWM	IWM	45,557	$13.7m0.26%	0.26%	Reduced -5.4k	-5,367 -10.5%
29	EA SERIES TRUST JLENS 500 JEWISH TOV	TOV	404,606	$12.8m0.24%	0.24%	Reduced -26.5k	-26,504 -6.2%
30	ISHARES TR MSCI EAFE ETF EFA	EFA	108,493	$11.3m0.21%	0.21%	Reduced -12.9k	-12,889 -10.6%
31	ISHARES TR CORE S&P500 ETF IVV	IVV	13,913	$10.4m0.19%	0.19%	Added +31	+31 0.2%
32	ISHARES TR HDG MSCI EAFE HEFA	HEFA	204,177	$9.6m0.18%	0.18%	Reduced -37.0k	-36,973 -15.3%
33	ISHARES TR ESG AWR US AGRGT EAGG	EAGG	130,692	$6.2m0.12%	0.12%	Unchanged
34	ISHARES TR CORE S&P MCP ETF IJH	IJH	75,763	$5.8m0.11%	0.11%	Added +148	+148 0.2%
35	ISHARES TR CORE S&P SCP ETF IJR	IJR	33,886	$5.0m0.09%	0.09%	Added +83	+83 0.2%
36	ISHARES INC MSCI ISRAEL ETF EIS	EIS	36,534	$4.4m0.08%	0.08%	Added +5.5k	+5,465 17.6%
37	ISHARES TR CORE S&P TTL STK ITOT	ITOT	25,076	$4.1m0.08%	0.08%	Unchanged
38	VANGUARD MALVERN FDS STRM INFPROIDX VTIP	VTIP	65,564	$3.3m0.06%	0.06%	Unchanged
39	SPDR INDEX SHS FDS MSCI EAFE FS ETF EFAX	EFAX	53,260	$2.9m0.05%	0.05%	Unchanged
40	ISHARES TR MSCI EMG MKT ETF EEM	EEM	36,131	$2.5m0.05%	0.05%	Reduced -21.8k	-21,822 -37.6%
41	ISHARES TR U.S. REAL ES ETF IYR	IYR	22,426	$2.3m0.04%	0.04%	Added +108	+108 0.5%
42	ISHARES TR ESG AWR MSCI USA ESGU	ESGU	13,905	$2.3m0.04%	0.04%	Unchanged
43	ISHARES TR MSCI USA ESG SLC SUSA	SUSA	9,903	$1.5m0.03%	0.03%	Unchanged
44	ISHARES TR ESG AW MSCI EAFE ESGD	ESGD	13,340	$1.4m0.03%	0.03%	Unchanged
45	DBX ETF TR XTRACKRS S&P 500 SNPE	SNPE	9,245	$636.6k0.01%	0.01%	Unchanged
46	VANGUARD INTL EQUITY INDEX F FTSE SMCAP ETF VSS	VSS	2,768	$427.1k0.01%	0.01%	Reduced -8.1k	-8,114 -74.6%
47	ISHARES TR US AER DEF ETF ITA	ITA	1,000	$242.4k0.00%	0.00%	New
48	SPDR SERIES TRUST PORTFOLIO S&P500 SPYM	SPYM	1,387	$121.9k0.00%	0.00%	Reduced -51	-51 -3.5%
49	VANGUARD STAR FDS VG TL INTL STK F VXUS	VXUS	759	$64.9k0.00%	0.00%	Reduced -62	-62 -7.5%
50	ISHARES TR CORE US AGGBD ET AGG	AGG	362	$35.8k0.00%	0.00%	New
51	VANGUARD MUN BD FDS TAX EXEMPT BD VTEB	VTEB	675	$34.1k0.00%	0.00%	Unchanged
52	VANGUARD WELLINGTON FD SHORT TRM TAX EX VTES	VTES	261	$26.4k0.00%	0.00%	Reduced -16	-16 -5.8%
53	ISHARES TR ISHS 5-10YR INVT IGIB	IGIB	160	$8.5k0.00%	0.00%	Unchanged