1y return+7.6%S&P 500 +20.9%
3y return+19.0%S&P 500 +68.5%
5y return+3.1%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since December 31, 2019: $123 against $232 in the S&P 500.2
Nepc LLCS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| VOOVanguard Index Fds | $646.9M | 12.1% | −3.7% |
| VCITVanguard Scottsdale Fds | $613.2M | 11.4% | +16.1% |
| VGITVanguard Scottsdale Fds | $499.9M | 9.3% | +4.2% |
| VCSHVanguard Scottsdale Fds | $494.3M | 9.2% | +3.1% |
| VGLTVanguard Scottsdale Fds | $488.9M | 9.1% | +5.4% |
| VTCVanguard Scottsdale Fds | $379.7M | 7.1% | +5.6% |
| VEAVanguard Tax-managed Fds | $306.3M | 5.7% | −4.2% |
| SCHPSchwab Strategic Tr | $220.5M | 4.1% | +4.7% |
| USHYIshares Tr | $193.6M | 3.6% | |
| VWOVanguard Intl Equity Index F | $180.1M | 3.4% | |
| VCRBVanguard Malvern Fds | $177.6M | 3.3% | −1.4% |
| VXFVanguard Index Fds | $149.0M | 2.8% | −3.4% |
| VTVVanguard Index Fds | $141.3M | 2.6% | −8.0% |
| VTVanguard Intl Equity Index F | $125.7M | 2.3% | −9.2% |
| VGSHVanguard Scottsdale Fds | $116.0M | 2.2% | |
| SHYGIshares Tr | $111.6M | 2.1% | |
| REETIshares Tr | $57.5M | 1.1% | |
| GLDMWorld Gold Tr | $52.7M | 1.0% | +28.6% |
| IGFIshares Tr | $52.1M | 1.0% | |
| BCIAbrdn Etfs | $51.6M | 1.0% | |
| GNRSpdr Index Shs Fds | $49.3M | 0.9% | |
| SPBOSpdr Series Trust | $48.5M | 0.9% | +130.5% |
| SPYState Str Spdr S&p 500 Etf T | $24.8M | 0.5% | −16.9% |
| IEFAIshares Tr | $24.5M | 0.5% | |
| IWVIshares Tr | $19.6M | 0.4% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| SPYState Str Spdr S&p 500 Etf T | June 30, 2020 | +142.2% | $24.8M |
| IVVIshares Tr | June 30, 2020 | +141.8% | $10.4M |
| EISIshares Inc | June 30, 2020 | +133.1% | $4.4M |
| IJRIshares Tr | June 30, 2020 | +117.2% | $5.0M |
| IJHIshares Tr | June 30, 2020 | +116.8% | $5.8M |
| GLDMWorld Gold Tr | September 30, 2023 | +116.6% | $52.7M |
| IWMIshares Tr | June 30, 2020 | +109.8% | $13.7M |
| VEAVanguard Tax-managed Fds | June 30, 2020 | +83.7% | $306.3M |
| VXFVanguard Index Fds | September 30, 2023 | +71.8% | $149.0M |
| EEMIshares Tr | June 30, 2020 | +71.1% | $2.5M |
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | +3.9% | +14.8% |
| March 31, 2026 | −0.3% | −4.6% |
| December 31, 2025 | +0.3% | +2.4% |
| September 30, 2025 | +3.6% | +7.8% |
| June 30, 2025 | +3.5% | +10.5% |
| March 31, 2025 | +1.4% | −4.6% |
| December 31, 2024 | −3.7% | +2.1% |
| September 30, 2024 | +5.3% | +5.4% |
| June 30, 2024 | +0.1% | +4.0% |
| March 31, 2024 | +1.6% | +10.0% |
| December 31, 2023 | +5.9% | +11.2% |
| September 30, 2023 | −3.5% | −3.6% |
| June 30, 2023 | +0.5% | +8.3% |
| March 31, 2023 | +2.4% | +7.0% |
| December 31, 2022 | +1.7% | +7.1% |
| September 30, 2022 | −3.2% | −5.3% |
| June 30, 2022 | −13.0% | −16.5% |
| March 31, 2022 | −5.2% | −4.9% |
| December 31, 2021 | +4.7% | +10.7% |
| September 30, 2021 | −1.1% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Nepc LLC Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1424799&type=13F-HR&dateb=&owner=include&count=40CIK 1424799
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1424799/000092963826003046/Filed August 14, 2026 · accession 0000929638-26-003046