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NEPC LLC

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13F filer, CIK 1424799, Boston, MA

NEPC LLC reported $4,692,619,753 across 51 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 76.89% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0000929638-26-000646

Period
2025-12-31
Reported value
$4.69B
Holdings
51
Top 10 weight
76.89%
New
4
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
VCITadded+1,670,078$140M
VOOadded+198,891$125M
VEAadded+1,823,000$114M
VGITadded+1,665,190$99.8M
VTCadded+1,077,991$83.7M

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.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
IEMGreduced-1,405,539-$94.5M
SPBOreduced-1,380,665-$40.5M
SPHYreduced-1,237,032-$29.3M
VOexited-89,095-$26.2M
IEFexited-116,950-$11.3M

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, Q4 2025

Share positions as resolved from 13F-HR 0000929638-26-000646, largest first. % of portfolio is the value over $4,692,619,751, 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; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 597,515 shares; 2024Q4: 709,881 shares; 2025Q1: 778,921 shares; 2025Q2: 818,600 shares; 2025Q3: 818,600 shares; 2025Q4: 1,017,491 shares 1,017,491$638M13.6%+198,891Timeline
VCITVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 6,093,365 shares 6,093,365$510M10.87%+1,670,078Timeline
VGITVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 8,137,837 shares 8,137,837$488M10.39%+1,665,190Timeline
VCSHVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 5,763,304 shares 5,763,304$460M9.79%+752,893Timeline
VGLTVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 7,763,007 shares 7,763,007$433M9.23%+878,866Timeline
VEAVANGUARD TAX-MANAGED FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 4,575,987 shares 4,575,987$286M6.09%+1,823,000Timeline
VTCVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,533,516 shares 3,533,516$274M5.85%+1,077,991Timeline
SCHPSCHWAB STRATEGIC TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 7,572,111 shares 7,572,111$201M4.27%+2,980,022Timeline
VWOVANGUARD INTL EQUITY INDEX FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 3,017,415 shares 3,017,415$162M3.46%+1,020,768Timeline
USHYISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 4,179,289 shares 4,179,289$156M3.33%+1,615,966Timeline
VTVVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 647,673 shares; 2024Q4: 761,166 shares; 2025Q1: 761,166 shares; 2025Q2: 659,573 shares; 2025Q3: 587,402 shares; 2025Q4: 704,920 shares 704,920$135M2.87%+117,518Timeline
VTVANGUARD INTL EQUITY INDEX FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 930,776 shares 930,776$131M2.8%+174,998Timeline
VXFVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 392,612 shares; 2024Q4: 472,231 shares; 2025Q1: 441,206 shares; 2025Q2: 456,356 shares; 2025Q3: 372,004 shares; 2025Q4: 626,535 shares 626,535$131M2.79%+254,531Timeline
VGSHVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,993,299 shares 1,993,299$117M2.49%+766,581Timeline
SHYGISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,632,283 shares 2,632,283$113M2.4%+431,320Timeline
GLDMWORLD GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 573,070 shares; 2024Q4: 729,530 shares; 2025Q1: 644,121 shares; 2025Q2: 692,544 shares; 2025Q3: 614,865 shares; 2025Q4: 634,975 shares 634,975$54.2M1.16%+20,110Timeline
GNRSPDR INDEX SHS FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 522,131 shares; 2024Q4: 693,040 shares; 2025Q1: 730,890 shares; 2025Q2: 861,133 shares; 2025Q3: 730,890 shares; 2025Q4: 870,237 shares 870,237$54.1M1.15%+139,347Timeline
IGFISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 585,886 shares; 2024Q4: 691,199 shares; 2025Q1: 709,810 shares; 2025Q2: 787,542 shares; 2025Q3: 665,979 shares; 2025Q4: 834,157 shares 834,157$51.2M1.09%+168,178Timeline
REETISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,040,739 shares 2,040,739$50.9M1.09%+397,810Timeline
BCIABRDN ETFSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 2,308,347 shares 2,308,347$45.1M0.96%+326,507Timeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 35,872 shares; 2024Q4: 35,789 shares; 2025Q1: 35,789 shares; 2025Q2: 35,717 shares; 2025Q3: 41,609 shares; 2025Q4: 41,403 shares 41,403$28.2M0.6%-206Timeline
IEFAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 74,335 shares; 2024Q4: 74,431 shares; 2025Q1: 129,344 shares; 2025Q2: 149,536 shares; 2025Q3: 198,113 shares; 2025Q4: 248,385 shares 248,385$22.2M0.47%+50,272Timeline
IWVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 14,117 shares; 2025Q2: 27,847 shares; 2025Q3: 27,849 shares; 2025Q4: 45,961 shares 45,961$17.8M0.38%+18,112Timeline
PGRPROGRESSIVE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 80,668 shares; 2024Q4: 78,640 shares; 2025Q1: 72,380 shares; 2025Q2: 64,992 shares; 2025Q3: 64,992 shares; 2025Q4: 64,992 shares 64,992$14.8M0.32%0Timeline
IWMISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 44,764 shares; 2024Q4: 44,764 shares; 2025Q1: 44,764 shares; 2025Q2: 44,764 shares; 2025Q3: 50,697 shares; 2025Q4: 50,846 shares 50,846$12.5M0.27%+149Timeline
IEMGISHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 185,768 shares 185,768$12.5M0.27%-1,405,539Timeline
TOVEA SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 297,975 shares; 2025Q2: 297,975 shares; 2025Q3: 297,975 shares; 2025Q4: 421,343 shares 421,343$12.1M0.26%+123,368Timeline
EFAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 104,912 shares; 2024Q4: 104,912 shares; 2025Q1: 104,912 shares; 2025Q2: 104,876 shares; 2025Q3: 119,376 shares; 2025Q4: 121,179 shares 121,179$11.6M0.25%+1,803Timeline
IVVISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 15,127 shares; 2024Q4: 15,150 shares; 2025Q1: 15,178 shares; 2025Q2: 15,178 shares; 2025Q3: 15,220 shares; 2025Q4: 15,334 shares 15,334$10.5M0.22%+114Timeline
HEFAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 191,997 shares; 2024Q4: 200,973 shares; 2025Q1: 200,973 shares; 2025Q2: 200,854 shares; 2025Q3: 237,827 shares; 2025Q4: 241,150 shares 241,150$9.97M0.21%+3,323Timeline
SPBOSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 258,781 shares 258,781$7.59M0.16%-1,380,665Timeline
IJHISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 70,687 shares; 2024Q4: 74,365 shares; 2025Q1: 74,989 shares; 2025Q2: 74,989 shares; 2025Q3: 75,182 shares; 2025Q4: 75,478 shares 75,478$4.98M0.11%+296Timeline
IJRISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 33,029 shares; 2024Q4: 33,476 shares; 2025Q1: 33,543 shares; 2025Q2: 33,528 shares; 2025Q3: 33,632 shares; 2025Q4: 33,763 shares 33,763$4.06M0.09%+131Timeline
SPHYSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 163,549 shares 163,549$3.87M0.08%-1,237,032Timeline
EEMISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 46,072 shares; 2024Q4: 47,357 shares; 2025Q1: 47,387 shares; 2025Q2: 47,255 shares; 2025Q3: 68,855 shares; 2025Q4: 69,338 shares 69,338$3.79M0.08%+483Timeline
EAGGISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 182,869 shares; 2024Q4: 151,042 shares; 2025Q1: 124,292 shares; 2025Q2: 78,457 shares; 2025Q3: 78,457 shares; 2025Q4: 78,457 shares 78,457$3.75M0.08%0Timeline
ITOTISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 25,076 shares; 2025Q2: 25,076 shares; 2025Q3: 25,076 shares; 2025Q4: 25,076 shares 25,076$3.73M0.08%0Timeline
EISISHARES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 31,069 shares; 2024Q4: 31,069 shares; 2025Q1: 31,069 shares; 2025Q2: 31,069 shares; 2025Q3: 31,069 shares; 2025Q4: 31,069 shares 31,069$3.42M0.07%0Timeline
VTIPVANGUARD MALVERN FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 51,214 shares; 2024Q4: 65,564 shares; 2025Q1: 65,564 shares; 2025Q2: 65,564 shares; 2025Q3: 65,564 shares; 2025Q4: 65,564 shares 65,564$3.24M0.07%0Timeline
EFAXSPDR INDEX SHS FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 53,260 shares; 2025Q4: 53,260 shares 53,260$2.69M0.06%0Timeline
ESGUISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 8,664 shares; 2025Q1: 13,905 shares; 2025Q2: 13,905 shares; 2025Q3: 13,905 shares; 2025Q4: 13,905 shares 13,905$2.07M0.04%0Timeline
IYRISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,732 shares; 2024Q4: 21,276 shares; 2025Q1: 21,276 shares; 2025Q2: 21,291 shares; 2025Q3: 21,553 shares; 2025Q4: 21,747 shares 21,747$2.04M0.04%+194Timeline
VSSVANGUARD INTL EQUITY INDEX FQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 8,114 shares; 2025Q1: 8,114 shares; 2025Q2: 8,114 shares; 2025Q3: 8,114 shares; 2025Q4: 10,882 shares 10,882$1.56M0.03%+2,768Timeline
ESGDISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,878 shares; 2025Q1: 12,495 shares; 2025Q2: 12,495 shares; 2025Q3: 12,495 shares; 2025Q4: 13,340 shares 13,340$1.27M0.03%+845Timeline
SUSAISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,953 shares; 2024Q4: 7,771 shares; 2025Q1: 7,924 shares; 2025Q2: 7,646 shares; 2025Q3: 7,646 shares; 2025Q4: 7,646 shares 7,646$1.07M0.02%0Timeline
SNPEDBX ETF TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 9,245 shares; 2025Q1: 9,245 shares; 2025Q2: 9,245 shares; 2025Q3: 9,245 shares; 2025Q4: 9,245 shares 9,245$577K0.01%0Timeline
SPYMSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 6,170 shares; 2025Q1: not reported; 2025Q2: 973,556 shares; 2025Q3: not reported; 2025Q4: 1,438 shares 1,438$115K<0.01%newTimeline
VXUSVANGUARD STAR FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 821 shares 821$61.9K<0.01%newTimeline
VTEBVANGUARD MUN BD FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 675 shares 675$33.9K<0.01%newTimeline
VTESVANGUARD WELLINGTON FDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 299 shares 299$30.4K<0.01%newTimeline
IGIBISHARES TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 179 shares; 2024Q4: 179 shares; 2025Q1: 179 shares; 2025Q2: 160 shares; 2025Q3: 160 shares; 2025Q4: 160 shares 160$8.62K<0.01%0Timeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
VOVANGUARD INDEX FDS89,095$26.2Mshares
IEFISHARES TR116,950$11.3Mshares

How Q4 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 0000929638-26-000646 base2026-02-17acceptance time not in the bulk data set