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NEPC LLC

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13F filer, CIK 1424799, Boston, MA

NEPC LLC reported $3,799,300,549 across 49 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 72.45% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000929638-25-004272

Period
2025-09-30
Reported value
$3.8B
Holdings
49
Top 10 weight
72.45%
New
2
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
VGLTadded+364,232$20.7M
IEFnew+116,950$11.3M
VGITadded+117,795$7.07M
IEFAadded+48,577$4.24M
SPYadded+5,892$3.93M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
VTreduced-570,222-$78.6M
SPYMexited-973,556-$70.8M
VEAreduced-1,007,482-$60.4M
SPBOreduced-915,394-$27.1M
VXFreduced-84,352-$17.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0000929638-25-004272, largest first. % of portfolio is the value over $3,799,300,546, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
VOOVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 597,515 shares; 2024Q4: 709,881 shares; 2025Q1: 778,921 shares; 2025Q2: 818,600 shares; 2025Q3: 818,600 shares 818,600$501M13.19%0Timeline
VCSHVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,283,339 shares; 2024Q4: 4,206,197 shares; 2025Q1: 4,864,970 shares; 2025Q2: 5,049,050 shares; 2025Q3: 5,010,411 shares 5,010,411$400M10.54%-38,639Timeline
VGLTVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,029,312 shares; 2024Q4: 6,061,870 shares; 2025Q1: 6,357,273 shares; 2025Q2: 6,519,909 shares; 2025Q3: 6,884,141 shares 6,884,141$391M10.3%+364,232Timeline
VGITVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,368,230 shares; 2024Q4: 6,699,794 shares; 2025Q1: 6,354,852 shares; 2025Q2: 6,354,852 shares; 2025Q3: 6,472,647 shares 6,472,647$389M10.23%+117,795Timeline
VCITVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,763,505 shares; 2024Q4: 3,808,917 shares; 2025Q1: 4,299,709 shares; 2025Q2: 4,423,287 shares; 2025Q3: 4,423,287 shares 4,423,287$372M9.79%0Timeline
VTCVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,812,712 shares; 2024Q4: 2,455,525 shares; 2025Q1: 2,455,525 shares; 2025Q2: 2,455,525 shares; 2025Q3: 2,455,525 shares 2,455,525$192M5.07%0Timeline
VEAVANGUARD TAX-MANAGED FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,059,233 shares; 2024Q4: 2,293,981 shares; 2025Q1: 2,840,808 shares; 2025Q2: 3,760,469 shares; 2025Q3: 2,752,987 shares 2,752,987$165M4.34%-1,007,482Timeline
SCHPSCHWAB STRATEGIC TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,971,211 shares; 2024Q4: 7,637,467 shares; 2025Q1: 5,736,286 shares; 2025Q2: 5,011,503 shares; 2025Q3: 4,592,089 shares 4,592,089$124M3.26%-419,414Timeline
VTVVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 647,673 shares; 2024Q4: 761,166 shares; 2025Q1: 761,166 shares; 2025Q2: 659,573 shares; 2025Q3: 587,402 shares 587,402$110M2.88%-72,171Timeline
VWOVANGUARD INTL EQUITY INDEX FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,007,274 shares; 2024Q4: 2,957,938 shares; 2025Q1: 2,113,375 shares; 2025Q2: 2,234,655 shares; 2025Q3: 1,996,647 shares 1,996,647$108M2.85%-238,008Timeline
IEMGISHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,546,393 shares; 2024Q4: 1,546,393 shares; 2025Q1: 1,559,913 shares; 2025Q2: 1,571,273 shares; 2025Q3: 1,591,307 shares 1,591,307$105M2.76%+20,034Timeline
VTVANGUARD INTL EQUITY INDEX FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,030,809 shares; 2024Q4: 1,967,195 shares; 2025Q1: 1,326,000 shares; 2025Q2: 1,326,000 shares; 2025Q3: 755,778 shares 755,778$104M2.74%-570,222Timeline
USHYISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,894,929 shares; 2024Q4: 2,563,323 shares; 2025Q1: 2,563,323 shares; 2025Q2: 2,563,323 shares; 2025Q3: 2,563,323 shares 2,563,323$96.8M2.55%0Timeline
SHYGISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,621,106 shares; 2024Q4: 2,200,963 shares; 2025Q1: 2,200,963 shares; 2025Q2: 2,200,963 shares; 2025Q3: 2,200,963 shares 2,200,963$95.3M2.51%0Timeline
VXFVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 392,612 shares; 2024Q4: 472,231 shares; 2025Q1: 441,206 shares; 2025Q2: 456,356 shares; 2025Q3: 372,004 shares 372,004$77.9M2.05%-84,352Timeline
VGSHVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,913,635 shares; 2024Q4: 1,913,635 shares; 2025Q1: 1,226,718 shares; 2025Q2: 1,226,718 shares; 2025Q3: 1,226,718 shares 1,226,718$72.2M1.9%0Timeline
SPBOSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,463,594 shares; 2024Q4: 6,459,529 shares; 2025Q1: 3,144,313 shares; 2025Q2: 2,554,840 shares; 2025Q3: 1,639,446 shares 1,639,446$48.6M1.28%-915,394Timeline
GLDMWORLD GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 573,070 shares; 2024Q4: 729,530 shares; 2025Q1: 644,121 shares; 2025Q2: 692,544 shares; 2025Q3: 614,865 shares 614,865$47M1.24%-77,679Timeline
GNRSPDR INDEX SHS FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 522,131 shares; 2024Q4: 693,040 shares; 2025Q1: 730,890 shares; 2025Q2: 861,133 shares; 2025Q3: 730,890 shares 730,890$43.3M1.14%-130,243Timeline
BCIABRDN ETFSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,448,272 shares; 2024Q4: 1,883,198 shares; 2025Q1: 1,835,142 shares; 2025Q2: 2,175,486 shares; 2025Q3: 1,981,840 shares 1,981,840$42.7M1.12%-193,646Timeline
REETISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,149,567 shares; 2024Q4: 1,480,023 shares; 2025Q1: 1,562,057 shares; 2025Q2: 1,851,623 shares; 2025Q3: 1,642,929 shares 1,642,929$42M1.11%-208,694Timeline
IGFISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 585,886 shares; 2024Q4: 691,199 shares; 2025Q1: 709,810 shares; 2025Q2: 787,542 shares; 2025Q3: 665,979 shares 665,979$40.7M1.07%-121,563Timeline
SPHYSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 519,904 shares; 2024Q4: 1,365,482 shares; 2025Q1: 1,342,791 shares; 2025Q2: 1,854,617 shares; 2025Q3: 1,400,581 shares 1,400,581$33.5M0.88%-454,036Timeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 35,872 shares; 2024Q4: 35,789 shares; 2025Q1: 35,789 shares; 2025Q2: 35,717 shares; 2025Q3: 41,609 shares 41,609$27.7M0.73%+5,892Timeline
VOVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 84,195 shares; 2025Q3: 89,095 shares 89,095$26.2M0.69%+4,900Timeline
IEFAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 74,335 shares; 2024Q4: 74,431 shares; 2025Q1: 129,344 shares; 2025Q2: 149,536 shares; 2025Q3: 198,113 shares 198,113$17.3M0.46%+48,577Timeline
PGRPROGRESSIVE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 80,668 shares; 2024Q4: 78,640 shares; 2025Q1: 72,380 shares; 2025Q2: 64,992 shares; 2025Q3: 64,992 shares 64,992$16M0.42%0Timeline
IWMISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 44,764 shares; 2024Q4: 44,764 shares; 2025Q1: 44,764 shares; 2025Q2: 44,764 shares; 2025Q3: 50,697 shares 50,697$12.3M0.32%+5,933Timeline
IEFISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 116,950 shares 116,950$11.3M0.3%newTimeline
EFAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 104,912 shares; 2024Q4: 104,912 shares; 2025Q1: 104,912 shares; 2025Q2: 104,876 shares; 2025Q3: 119,376 shares 119,376$11.1M0.29%+14,500Timeline
IWVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 14,117 shares; 2025Q2: 27,847 shares; 2025Q3: 27,849 shares 27,849$10.6M0.28%+2Timeline
IVVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,127 shares; 2024Q4: 15,150 shares; 2025Q1: 15,178 shares; 2025Q2: 15,178 shares; 2025Q3: 15,220 shares 15,220$10.2M0.27%+42Timeline
HEFAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 191,997 shares; 2024Q4: 200,973 shares; 2025Q1: 200,973 shares; 2025Q2: 200,854 shares; 2025Q3: 237,827 shares 237,827$9.42M0.25%+36,973Timeline
TOVEA SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 297,975 shares; 2025Q2: 297,975 shares; 2025Q3: 297,975 shares 297,975$8.37M0.22%0Timeline
IJHISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 70,687 shares; 2024Q4: 74,365 shares; 2025Q1: 74,989 shares; 2025Q2: 74,989 shares; 2025Q3: 75,182 shares 75,182$4.91M0.13%+193Timeline
IJRISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 33,029 shares; 2024Q4: 33,476 shares; 2025Q1: 33,543 shares; 2025Q2: 33,528 shares; 2025Q3: 33,632 shares 33,632$4M0.11%+104Timeline
EAGGISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 182,869 shares; 2024Q4: 151,042 shares; 2025Q1: 124,292 shares; 2025Q2: 78,457 shares; 2025Q3: 78,457 shares 78,457$3.77M0.1%0Timeline
EEMISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 46,072 shares; 2024Q4: 47,357 shares; 2025Q1: 47,387 shares; 2025Q2: 47,255 shares; 2025Q3: 68,855 shares 68,855$3.68M0.1%+21,600Timeline
ITOTISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 25,076 shares; 2025Q2: 25,076 shares; 2025Q3: 25,076 shares 25,076$3.65M0.1%0Timeline
VTIPVANGUARD MALVERN FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 51,214 shares; 2024Q4: 65,564 shares; 2025Q1: 65,564 shares; 2025Q2: 65,564 shares; 2025Q3: 65,564 shares 65,564$3.32M0.09%0Timeline
EISISHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 31,069 shares; 2024Q4: 31,069 shares; 2025Q1: 31,069 shares; 2025Q2: 31,069 shares; 2025Q3: 31,069 shares 31,069$3.12M0.08%0Timeline
EFAXSPDR INDEX SHS FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 53,260 shares 53,260$2.63M0.07%newTimeline
IYRISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,732 shares; 2024Q4: 21,276 shares; 2025Q1: 21,276 shares; 2025Q2: 21,291 shares; 2025Q3: 21,553 shares 21,553$2.09M0.06%+262Timeline
ESGUISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 8,664 shares; 2025Q1: 13,905 shares; 2025Q2: 13,905 shares; 2025Q3: 13,905 shares 13,905$2.02M0.05%0Timeline
ESGDISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,878 shares; 2025Q1: 12,495 shares; 2025Q2: 12,495 shares; 2025Q3: 12,495 shares 12,495$1.16M0.03%0Timeline
VSSVANGUARD INTL EQUITY INDEX FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 8,114 shares; 2025Q1: 8,114 shares; 2025Q2: 8,114 shares; 2025Q3: 8,114 shares 8,114$1.16M0.03%0Timeline
SUSAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,953 shares; 2024Q4: 7,771 shares; 2025Q1: 7,924 shares; 2025Q2: 7,646 shares; 2025Q3: 7,646 shares 7,646$1.04M0.03%0Timeline
SNPEDBX ETF TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 9,245 shares; 2025Q1: 9,245 shares; 2025Q2: 9,245 shares; 2025Q3: 9,245 shares 9,245$555K0.01%0Timeline
IGIBISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 179 shares; 2024Q4: 179 shares; 2025Q1: 179 shares; 2025Q2: 160 shares; 2025Q3: 160 shares 160$8.65K<0.01%0Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
SPYMSPDR SERIES TRUST973,556$70.8Mshares
GOVTISHARES TR487,077$11.2Mshares
ICLNISHARES TR35,461$465Kshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0000929638-25-004272 base2025-11-14acceptance time not in the bulk data set