CAMBRIDGE ASSOCIATES LLC /MA/ /ADV
Strategy in plain words
auto-generated from filingsCAMBRIDGE ASSOCIATES LLC /MA/ /ADV is a wealth-management firm allocating client money, specialised in financials (77% of the long book), running a $6.27B US long book across 60 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: VANGUARD S&P 500 ETF, VANGUARD TOT WORLD STK ETF, VANGUARD FTSE DEVELOPED ETF, VANGUARD TOTAL STOCK MKT ETF, VANGUARD INTERMEDIATE-TERM T.
Over the last 9 quarters its long book ran on average 0.8pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. Its holdings are mechanical (indexing / client flows), so position changes carry no stock-picking signal.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/optionsSector allocation
Long book by quarter
What does CAMBRIDGE ASSOCIATES own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| KRMN KARMAN HOLDINGS INC | Industrials | 249.0K | $19.9M | 0.3% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR/ARESTATEMENT | Jun 23, 2026 | 60 | $6.27B | canonical | SEC ↗ |
| Q1 2026 | 13F-HR | May 13, 2026 | 64 | $6.31B | SEC ↗ | |
| Q4 2025 | 13F-HR/ARESTATEMENT | Jun 23, 2026 | 57 | $6.11B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR/ARESTATEMENT | May 19, 2026 | 61 | $6.15B | SEC ↗ | |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 61 | $6.49B | SEC ↗ | |
| Q3 2025 | 13F-HR/ARESTATEMENT | Jun 23, 2026 | 53 | $5.45B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 53 | $5.46B | SEC ↗ | |
| Q2 2025 | 13F-HR/ARESTATEMENT | Jun 23, 2026 | 46 | $4.54B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 48 | $4.58B | SEC ↗ | |
| Q1 2025 | 13F-HR/ARESTATEMENT | Jun 23, 2026 | 46 | $3.48B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 48 | $3.50B | SEC ↗ | |
| Q4 2024 | 13F-HR | Feb 12, 2025 | 51 | $3.12B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 64 | $2.67B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 50 | $2.18B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 51 | $1.87B | canonical | SEC ↗ |