Skip to main content
Livermore
Livermore
ZHEN

Cambridge Associates LLC

SEC CIK
0000733986
Latest filing
Aug 14, 2026

The latest 13F from Cambridge Associates LLC covers Q2 2026 (filed Aug 14, 2026): 56 long positions worth $6.93B. The top 10 holdings make up 84.2% of the portfolio, and the largest is Vanguard S&P 500 ETF at 27.3%. Livermore has 37 filings on Form 13F from this institution, going back to Q1 2021.

What changed in Q2 2026

Share counts compared with Q1 2026: how many positions were new, added to, reduced or sold out, and the biggest buys and sells. Dollar amounts are estimated at the quarter-end prices implied by the filing.

Full comparison
New
3
Est. +$16.0M
Added
17
Est. +$195.3M
Reduced
20
Est. −$151.1M
Sold out
7
Est. −$50.2M

Top 5 holdings

Share of this quarter's portfolio value

  1. Vanguard S&P 500 ETF922908363
    27.3%$1.89B
  2. Vanguard Total World Stock ETF922042742
    20.5%$1.42B
  3. Vanguard Ftse Developed Markets ETF921943858
    9.7%$672.0M
  4. Vanguard Morningstar Total Stock Market ETF922908769
    9.0%$621.3M
  5. Vanguard Scottsdale FDS92206C706
    5.4%$373.5M

Share of portfolio

Top 5 holdings and the other 51 positions, by share of portfolio value

  1. Vanguard S&P 500 ETF27.3%
  2. Vanguard Total World Stock ETF20.5%
  3. Vanguard Ftse Developed Markets ETF9.7%
  4. Vanguard Morningstar Total Stock Market ETF9.0%
  5. Vanguard Scottsdale FDS5.4%
  6. Other 51 positions28.2%

Biggest buys

New and added positions, by estimated amount bought

  1. Vanguard Total World Stock ETF922042742
    +$66.4MAdded
  2. iShares Core U.S. Aggregate Bond ETF464287226
    +$32.9MAdded
  3. Vanguard Short-Term Bond ETF921937827
    +$14.9MAdded
  4. iShares Tr46435G326
    +$13.1MAdded
  5. Vanguard Scottsdale FDS92206C706
    +$12.3MAdded

Largest weight increases

New and added positions, by percentage points of the portfolio gained

  1. Vanguard Total World Stock ETF922042742
    +1.45 pp19.0% → 20.5%
  2. iShares Core U.S. Aggregate Bond ETF464287226
    +0.32 pp1.5% → 1.9%
  3. Vanguard Short-Term Bond ETF921937827
    +0.19 pp0.2% → 0.4%
  4. iShares Tr46435G326
    +0.18 pp0.3% → 0.5%
  5. Invesco Exchange Traded FD T46137V357
    +0.17 pp<0.1% → 0.2%

Biggest sells

Reduced and sold-out positions, by estimated amount sold

  1. Vanguard Star FDS921909768
    −$22.5MSold out
  2. iShares Core S&P 500 ETF464287200
    −$22.1MReduced
  3. iShares Tr46436E718
    −$20.0MReduced
  4. Vanguard Morningstar Value ETF922908744
    −$15.9MSold out
  5. Vanguard World FD921910733
    −$14.7MReduced

Largest weight decreases

Reduced and sold-out positions, by percentage points of the portfolio lost

  1. Vanguard Star FDS921909768
    −0.36 pp0.4% → 0.0%
  2. iShares Tr46436E718
    −0.36 pp0.7% → 0.4%
  3. IAUiShares Gold Trust
    −0.27 pp1.0% → 0.8%History
  4. KRMNKarman Holdings Inc.
    −0.27 pp0.3% → <0.1%History
  5. iShares Core S&P 500 ETF464287200
    −0.26 pp1.6% → 1.4%

Metrics

13F metrics for Q2 2026, computed only from the numbers in the filings. Definitions below.

Portfolio value
$6.93B
+$663.0M (+10.6%) vs. prior quarter
Positions
56
−4 vs. prior quarter
Top 10 concentration
84.2%
Top 10 as share of value
Turnover
3.1%
Q2 2026, one quarter
Average holding period
20.2 quarters
Weighted by value

How these are calculated

  • Portfolio value: the market value of all long positions in the 13F, as reported at quarter end, excluding options.
  • Top 10 concentration: the combined value of the 10 largest positions as a share of portfolio value.
  • Turnover: the smaller of this quarter's estimated purchases and estimated sales, divided by the average of this and last quarter's portfolio value. Estimates multiply the change in shares by the quarter-end price implied by the filing (market value divided by shares); new positions use this quarter's value and sold-out positions last quarter's. Only positions reported in shares count, and it is not calculated when the previous quarter was not filed.
  • Average holding period: how many consecutive quarters each current position has been held (including this one; a quarter without the position or without a filing starts the count over), weighted by this quarter's value. Counting starts with the first 13F in Livermore (Q1 2021), so positions held before then are understated.

13F filings by quarter

22 quarters, going back to Q1 2021. Bars show each quarter's 13F portfolio value; quarters without a filing are left blank.

Peak $6.93B (Q2 2026)

Q1 2021: $1.28BQ2 2021: $1.19BQ3 2021: $1.15BQ4 2021: $1.33BQ1 2022: $1.51BQ2 2022: $1.25BQ3 2022: $1.22BQ4 2022: $1.30BQ1 2023: $1.29BQ2 2023: $1.34BQ3 2023: $1.51BQ4 2023: $1.68BQ1 2024: $1.87BQ2 2024: $2.18BQ3 2024: $2.67BQ4 2024: $3.12BQ1 2025: $3.48BQ2 2025: $4.54BQ3 2025: $5.45BQ4 2025: $6.11BQ1 2026: $6.27BQ2 2026: $6.93B
Q1 2021Q2 2026
13F filings of Cambridge Associates LLC by quarter
QuarterFiledPositionsValueTop 3 holdingsChangesFiling
Q2 2026Aug 14, 202656$6.93BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Ftse Developed Markets ETFvs. Q1 2026SEC
Q1 2026Jun 23, 2026Amended60$6.27BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Ftse Developed Markets ETFvs. Q4 2025SEC
Q4 2025Jun 23, 2026Amended57$6.11BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Morningstar Total Stock Market ETFvs. Q3 2025SEC
Q3 2025Jun 23, 2026Amended53$5.45BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Morningstar Total Stock Market ETFvs. Q2 2025SEC
Q2 2025Jun 23, 2026Amended46$4.54BVanguard S&P 500 ETFVanguard Total World Stock ETFiShares Core U.S. Aggregate Bond ETFvs. Q1 2025SEC
Q1 2025Jun 23, 2026Amended46$3.48BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Malvern FDSvs. Q4 2024SEC
Q4 2024Feb 12, 202551$3.12BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Malvern FDSvs. Q3 2024SEC
Q3 2024Nov 14, 202464$2.67BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Malvern FDSvs. Q2 2024SEC
Q2 2024Aug 14, 202450$2.18BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Malvern FDSvs. Q1 2024SEC
Q1 2024May 14, 202451$1.87BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Ftse Developed Markets ETFvs. Q4 2023SEC
Q4 2023Feb 14, 202457$1.68BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Ftse Developed Markets ETFvs. Q3 2023SEC
Q3 2023Nov 14, 202348$1.51BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Ftse Developed Markets ETFvs. Q2 2023SEC
Q2 2023Aug 14, 202341$1.34BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Ftse Developed Markets ETFvs. Q1 2023SEC
Q1 2023May 12, 202344$1.29BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Ftse Developed Markets ETFvs. Q4 2022SEC
Q4 2022Feb 14, 202342$1.30BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Ftse Developed Markets ETFvs. Q3 2022SEC
Q3 2022Nov 14, 202244$1.22BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Ftse Developed Markets ETFvs. Q2 2022SEC
Q2 2022Dec 21, 2022Amended44$1.25BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Ftse Developed Markets ETFvs. Q1 2022SEC
Q1 2022Dec 21, 2022Amended42$1.51BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Ftse Developed Markets ETFvs. Q4 2021SEC
Q4 2021Dec 21, 2022Amended44$1.33BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Morningstar Total Stock Market ETFvs. Q3 2021SEC
Q3 2021Dec 21, 2022Amended50$1.15BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Morningstar Total Stock Market ETFvs. Q2 2021SEC
Q2 2021Aug 13, 202144$1.19BVanguard S&P 500 ETFVanguard Total World Stock ETFVanguard Ftse Emerging Markets ETFvs. Q1 2021SEC
Q1 2021May 7, 202149$1.28BVanguard Total World Stock ETFVanguard S&P 500 ETFiShares Tr–SEC