CA
Cambridge Associates LLC /ma/ /adv 13F Holdings & Recent Stock Buys (Q2 2026)
Cambridge Associates LLC /ma/ /advCIK: 0000733986
Sector-focusedMomentum followerLong-term holder
Total reported value
$6.9B
Reporting period: 2026-06-30 · Number of holdings: 56
CAMBRIDGE ASSOCIATES LLC /MA/ /ADV disclosed 56 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $6.9B and a quarterly turnover rate of 14.7%.
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Personality snowflake
- Concentration
- 56.51
- Portfolio Stability
- 14.68
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 73.47
Cambridge Associates LLC /ma/ /adv's disclosed holdings carry a Herfindahl concentration index of 0.141 — mathematically equivalent to about 7 equally-sized positions, well below its 56 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.65), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.3 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Sector classification currently covers about 0% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd VT
+4.9% $226.7M
Add VOO
-0.6% $236.7M
Trim VGIT
+3.4% $8.8M
Sold out VXUS
Trim SGOV
-44.9% -$20.0M
Add AGG
+34.0% $32.6M
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 27.30% | +0.89% | -0.55% | |
| 2 | VT | Vanguard Tot World Stk ETF | ETF-Other | 20.46% | +1.46% | +4.91% | |
| 3 | VEA | Vanguard Ftse Developed ETF | ETF-Other | 9.70% | +0.03% | -1.76% | |
| 4 | VTI | Vanguard Total Stock Mkt ETF | ETF-Other | 8.97% | +0.19% | -3.25% | |
| 5 | VGIT | Vanguard Intermediate-term T | ETF-Other | 5.39% | -0.43% | +3.42% | |
| 6 | VTIP | Vanguard Short-term Tips | ETF-Other | 4.12% | -0.22% | +4.32% | |
| 7 | VWO | Vanguard Ftse Emerging Marke | ETF-Emerging Markets | 2.66% | +0.13% | +2.76% | |
| 8 | VGLT | Vanguard Long-term Treasury | ETF-Gov Bonds | 2.18% | -0.20% | +1.56% | |
| 9 | AGG | Ishares Core U.s. Aggregate | ETF-Other | 1.87% | +0.32% | +34.04% | |
| 10 | VGSH | Vanguard Short-term Treasury | ETF-Gov Bonds | 1.54% | -0.02% | +9.63% | |
| 11 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 1.37% | -0.26% | -18.94% | |
| 12 | IEFA | Ishares Core Msci Eafe ETF | ETF-Other | 1.27% | — | +3.00% | |
| 13 | IEMG | Ishares Core Msci Emerging | ETF-Emerging Markets | 1.02% | -0.05% | -13.99% | |
| 14 | AVSC | Avantis US Small Cap Equity | ETF-Small Cap | 1.01% | +0.09% | +3.49% | |
| 15 | BND | Vanguard Total Bond Market | ETF-Other | 0.81% | -0.03% | +7.62% | |
| 16 | VONV | Vanguard Russell 1000 Value | ETF-Other | 0.78% | +0.01% | -0.48% | |
| 17 | IAU | Ishares Gold Trust | ETF-Commodities | 0.77% | -0.27% | -4.43% | |
| 18 | IWB | Ishares Russell 1000 ETF | ETF-Other | 0.73% | +0.02% | — | |
| 19 | VUG | Vanguard Growth ETF | ETF-Other | 0.67% | +0.05% | +504.40% | |
| 20 | ACWI | Ishares Msci Acwi ETF | ETF-Other | 0.50% | -0.11% | -19.10% | |
| 21 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 0.50% | -0.21% | -29.63% | |
| 22 | IDEV | Ishares Core Msci Dev Mkts | ETF-Other | 0.50% | +0.18% | +61.37% | |
| 23 | QUAL | Ishares Msci USA Quality Fac | ETF-Other | 0.48% | +0.01% | — | |
| 24 | BSV | Vanguard Short-term Bond ETF | ETF-Other | 0.43% | +0.20% | +102.65% | |
| 25 | VONG | Vanguard Russell 1000 Growth | ETF-Other | 0.37% | +0.01% | -3.28% | |
| 26 | SGOV | Ishares 0-3 Month Treasury B | ETF-Gov Bonds | 0.36% | -0.35% | -44.85% | |
| 27 | VDE | Vanguard Energy ETF | ETF-Other | 0.35% | -0.10% | — | |
| 28 | BIZD | Vaneck Bdc Income ETF | ETF-Other | 0.35% | -0.03% | -21.33% | |
| 29 | GQGU | Gqg US Equity ETF | ETF-Other | 0.32% | -0.06% | — | |
| 30 | DMBS | Doubleline Mortgage ETF | ETF-Other | 0.31% | -0.01% | +8.02% | |
| 31 | TIP | Ishares Tips Bond ETF | ETF-Other | 0.29% | -0.16% | -27.71% | |
| 32 | TOV | Jlens 500 Jewish Advy US ETF | ETF-Other | 0.28% | +0.01% | — | |
| 33 | IEF | Ishares 7-10 Year Treasury B | ETF-Gov Bonds | 0.28% | -0.03% | +0.39% | |
| 34 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.25% | +0.02% | +2.35% | |
| 35 | GNR | State Street Spdr S&p Global | ETF-Other | 0.22% | -0.15% | -25.42% | |
| 36 | ESGV | Vanguard Esg US Stock ETF | ETF-Other | 0.19% | -0.19% | -52.31% | |
| 37 | RSP | Invesco S&p 500 Equal Weight | ETF-Large Cap & Growth | 0.19% | +0.17% | +1027.31% | |
| 38 | VIOO | Vanguard S&p Small-cap 600 E | ETF-Other | 0.17% | +0.01% | -20.81% | |
| 39 | STIP | Ishares 0-5 Year Tips Bond E | ETF-Other | 0.14% | -0.02% | — | |
| 40 | VNQ | Vanguard Real Estate ETF | ETF-Other | 0.13% | — | — | |
| 41 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 0.11% | +0.01% | — | |
| 42 | AOK | Ishares Core 30/70 Conservat | ETF-Other | 0.10% | +0.10% | NEW | |
| 43 | IWV | Ishares Russell 3000 ETF | ETF-Other | 0.09% | — | — | |
| 44 | QLTY | Gmo U.s. Quality ETF | ETF-Other | 0.09% | +0.09% | NEW | |
| 45 | VONE | Vanguard Russell 1000 | ETF-Other | 0.07% | — | — | |
| 46 | KRMN | Karman Holdings Inc | Stock-Industrials | 0.05% | -0.27% | -72.49% | |
| 47 | JSTC | Adasina Social Justice Glb | ETF-Other | 0.05% | -0.03% | -38.70% | |
| 48 | VTEB | Vanguard Tax-exempt Bond ETF | ETF-Other | 0.04% | -0.02% | -29.25% | |
| 49 | EAGL | Eagle Capital Select Eqty | ETF-Other | 0.04% | +0.04% | NEW | |
| 50 | VSGX | Vanguard Esg Intl Stock ETF | ETF-Other | 0.04% | — | -7.38% |
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Portfolio Performance
Performance for Q3 2026
+1.8%
Performance Last 4 Quarters
+18.2%
- Stdev
- +10.3%
- Beta
- +0.76
- Alpha
- +1.3%
- Max Drawdown
- -5.1%
- Annualized Perf
- +17.3%
- Batting Avg vs S&P
- +41.7%
- Sortino
- +3.23
- Stutzer
- +0.47
- Treynor
- +0.22
- Sterling
- +1.24
- Calmar
- +3.42
- Information Ratio
- -0.84
- Tracking Error
- +4.1%
- Stdev Down
- +5.1%
- Winning Months %
- +75%
- Losing Months %
- +25%
- Best 12 Months
- +28.6%
- Worst 12 Months
- +7.1%
- Efficiency Ratio
- +0.64
- Sharpe
- +1.61
- Stdev Sectors
- 0%
- Skewness
- -0.17
- Kurtosis
- -0.1
- Upside Potential
- +4.73
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 56 | $6.9B | 15 | ||
| 2026 Q1 | 60 | $6.3B | 7 | ||
| 2025 Q4 | 57 | $6.1B | 18 | ||
| 2025 Q3 | 53 | $5.5B | 39 | ||
| 2025 Q2 | 46 | $4.5B | 29 | ||
| 2025 Q1 | 46 | $3.5B | 100 | ||
| 2024 Q4 | 51 | $3.1B | 0 | ||
| 2024 Q3 | 64 | $2.7B | 0 | ||
| 2024 Q2 | 50 | $2.2B | 0 | ||
| 2024 Q1 | 51 | $1.9B | 0 | ||
| 2023 Q4 | 57 | $1.7B | 0 | ||
| 2023 Q3 | 48 | $1.5B | 0 | ||
| 2023 Q2 | 41 | $1.3B | 0 | ||
| 2023 Q1 | 44 | $1.3B | 0 | ||
| 2022 Q4 | 42 | $1.3B | 0 | ||
| 2022 Q3 | 44 | $1.2B | 0 | ||
| 2022 Q2 | 44 | $1.2B | 0 | ||
| 2022 Q1 | 42 | $1.5B | 0 | ||
| 2021 Q4 | 44 | $1.3B | 0 | ||
| 2021 Q3 | 50 | $1.1B | 0 | ||
| 2021 Q2 | 44 | $1.2B | 100 | ||
| 2021 Q1 | 49 | $1.3B | 20 | ||
| 2020 Q4 | 45 | $1.2B | 29 | ||
| 2020 Q3 | 58 | $1.1B | 20 | ||
| 2020 Q2 | 40 | $996.1M | 35 | ||
| 2020 Q1 | 42 | $1.1B | 48 | ||
| 2019 Q4 | 41 | $874.3M | 18 | ||
| 2019 Q3 | 37 | $890.4M | 13 | ||
| 2019 Q2 | 34 | $868.1M | 14 | ||
| 2019 Q1 | 32 | $898.9M | 21 | ||
| 2018 Q4 | 33 | $816.7M | 22 | ||
| 2018 Q3 | 28 | $804.6M | 25 | ||
| 2018 Q2 | 27 | $890.3M | 49 | ||
| 2018 Q1 | 27 | $569.4M | 65 | ||
| 2017 Q4 | 32 | $929.0M | 19 | ||
| 2017 Q3 | 35 | $830.4M | 35 | ||
| 2017 Q2 | 33 | $633.1M | 19 | ||
| 2017 Q1 | 32 | $597.3M | 70 | ||
| 2016 Q4 | 30 | $475.9M | 19 | ||
| 2016 Q3 | 28 | $474.0M | 30 | ||
| 2016 Q2 | 28 | $428.7M | 87 | ||
| 2016 Q1 | 22 | $210.4M | 37 | ||
| 2015 Q4 | 19 | $191.8M | 34 | ||
| 2015 Q3 | 17 | $171.2M | 65 | ||
| 2015 Q2 | 17 | $209.7M | 8 | ||
| 2015 Q1 | 17 | $215.8M | 12 | ||
| 2014 Q4 | 15 | $197.7M | 43 | ||
| 2014 Q3 | 13 | $170.5M | 20 | ||
| 2014 Q2 | 14 | $202.2M | 39 | ||
| 2014 Q1 | 14 | $169.2M | 61 | ||
| 2013 Q4 | 15 | $195.4M | 0 |
Holding changes this quarter
Cambridge Associates LLC /ma/ /adv's most significant position changes for 2026-06-30: Sold out: Vanguard Total Intl Stock (VXUS); Sold out: Vanguard Value ETF (VTV); New buy: Ishares Core 30/70 Conservat (AOK); New buy: Gmo U.s. Quality ETF (QLTY); Sold out: Ishares Trust Ishares Esg Aw (ESGD).
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Filing History
FAQ
What is Cambridge Associates LLC /ma/ /adv and what type of investor is it?
Cambridge Associates LLC /ma/ /adv is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $6.9B, spread across 56 disclosed positions.
What are Cambridge Associates LLC /ma/ /adv's largest equity positions?
Based on the latest 13F filing, Cambridge Associates LLC /ma/ /adv's top holdings by market value are:
1. Vanguard S&p 500 ETF (VOO) — $1.9B (27.3%)
2. Vanguard Tot World Stk ETF (VT) — $1.4B (20.5%)
3. Vanguard Ftse Developed ETF (VEA) — $672.0M (9.7%)
4. Vanguard Total Stock Mkt ETF (VTI) — $621.3M (9.0%)
5. Vanguard Intermediate-term T (VGIT) — $373.5M (5.4%)
What changes did Cambridge Associates LLC /ma/ /adv make in its most recent portfolio filing?
In the latest reported quarter, Cambridge Associates LLC /ma/ /adv made 48 notable position adjustments: 3 new positions were initiated, 18 existing holdings were added to, 20 positions were partially reduced, and 7 were completely exited. The largest of these moves: Sold out: Vanguard Total Intl Stock (VXUS); Sold out: Vanguard Value ETF (VTV); New buy: Ishares Core 30/70 Conservat (AOK); New buy: Gmo U.s. Quality ETF (QLTY); Sold out: Ishares Trust Ishares Esg Aw (ESGD)
What sectors does Cambridge Associates LLC /ma/ /adv focus on?
Cambridge Associates LLC /ma/ /adv is concentrated in the following sectors based on its current disclosed equity portfolio:
• Industrials: 100.0%
Investment Profile
Cambridge Associates LLC /ma/ /adv returned an annualized 17.3% over the trailing 36 months — outperforming the S&P 500 by 1.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.76 (less volatile than the market) and a 42% quarterly batting average against the index.
Its portfolio is moderately concentrated and long-term-holding, with 100.0% of the portfolio concentrated in Industrials.
It has added to its VT position over the past two quarters (+$274.9M, now $1.4B), while trimming SGOV over the same stretch (-$32.0M, still holding $24.6M).
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Developer Access
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