NEPC LLC Long-Term Concentrated

CIK: 0001424799 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $4,692,620 (100.0% shares, 0.0% debt)

Holdings (51)

New Positions (4)

SPYM SPDR SERIES TRUST 0.0%

Value ($000) $115 Shares 1,438 Est. Cost $80.22 Unrealized —

VXUS VANGUARD STAR FDS 0.0%

Value ($000) $62 Shares 821 Est. Cost $75.44 Unrealized —

VTEB VANGUARD MUN BD FDS 0.0%

Value ($000) $34 Shares 675 Est. Cost $50.29 Unrealized —

VTES VANGUARD WELLINGTON FD 0.0%

Value ($000) $30 Shares 299 Est. Cost $101.58 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
SPYM	SPDR SERIES TRUST	1,438	$115	0.0%	$80.22	—	PORTFOLIO S&P500	78464A854
VXUS	VANGUARD STAR FDS	821	$62	0.0%	$75.44	—	VG TL INTL STK F	921909768
VTEB	VANGUARD MUN BD FDS	675	$34	0.0%	$50.29	—	TAX EXEMPT BD	922907746
VTES	VANGUARD WELLINGTON FD	299	$30	0.0%	$101.58	—	SHORT TRM TAX EX	921935870

Increased Positions (27)

VCIT VANGUARD SCOTTSDALE FDS 10.9%

Value ($000) $510,319 (+37.2%) Shares 6,093,365 (+37.8%) Est. Cost $80.14 Unrealized —

VOO VANGUARD INDEX FDS 13.6%

Value ($000) $638,099 (+27.3%) Shares 1,017,491 (+24.3%) Est. Cost $502.61 Unrealized —

VEA VANGUARD TAX-MANAGED FDS 6.1%

Value ($000) $285,862 (+73.3%) Shares 4,575,987 (+66.2%) Est. Cost $54.58 Unrealized —

VGIT VANGUARD SCOTTSDALE FDS 10.4%

Value ($000) $487,701 (+25.5%) Shares 8,137,837 (+25.7%) Est. Cost $58.43 Unrealized —

VTC VANGUARD SCOTTSDALE FDS 5.8%

Value ($000) $274,342 (+42.5%) Shares 3,533,516 (+43.9%) Est. Cost $75.60 Unrealized —

SCHP SCHWAB STRATEGIC TR 4.3%

Value ($000) $200,585 (+62.1%) Shares 7,572,111 (+64.9%) Est. Cost $32.11 Unrealized —

USHY ISHARES TR 3.3%

Value ($000) $156,285 (+61.4%) Shares 4,179,289 (+63.0%) Est. Cost $36.45 Unrealized —

VCSH VANGUARD SCOTTSDALE FDS 9.8%

Value ($000) $459,508 (+14.7%) Shares 5,763,304 (+15.0%) Est. Cost $76.88 Unrealized —

VWO VANGUARD INTL EQUITY INDEX F 3.5%

Value ($000) $162,216 (+50.0%) Shares 3,017,415 (+51.1%) Est. Cost $45.82 Unrealized —

VXF VANGUARD INDEX FDS 2.8%

Value ($000) $131,021 (+68.2%) Shares 626,535 (+68.4%) Est. Cost $181.75 Unrealized —

VGSH VANGUARD SCOTTSDALE FDS 2.5%

Value ($000) $117,066 (+62.2%) Shares 1,993,299 (+62.5%) Est. Cost $58.03 Unrealized —

VGLT VANGUARD SCOTTSDALE FDS 9.2%

Value ($000) $433,176 (+10.7%) Shares 7,763,007 (+12.8%) Est. Cost $57.07 Unrealized —

VT VANGUARD INTL EQUITY INDEX F 2.8%

Value ($000) $131,295 (+26.1%) Shares 930,776 (+23.2%) Est. Cost $118.84 Unrealized —

VTV VANGUARD INDEX FDS 2.9%

Value ($000) $134,633 (+22.9%) Shares 704,920 (+20.0%) Est. Cost $157.31 Unrealized —

SHYG ISHARES TR 2.4%

Value ($000) $112,846 (+18.4%) Shares 2,632,283 (+19.6%) Est. Cost $42.09 Unrealized —

GNR SPDR INDEX SHS FDS 1.2%

Value ($000) $54,077 (+25.0%) Shares 870,237 (+19.1%) Est. Cost $56.05 Unrealized —

IGF ISHARES TR 1.1%

Value ($000) $51,184 (+25.7%) Shares 834,157 (+25.3%) Est. Cost $50.52 Unrealized —

REET ISHARES TR 1.1%

Value ($000) $50,916 (+21.2%) Shares 2,040,739 (+24.2%) Est. Cost $23.46 Unrealized —

IWV ISHARES TR 0.4%

Value ($000) $17,780 (+68.5%) Shares 45,961 (+65.0%) Est. Cost $354.88 Unrealized —

GLDM WORLD GOLD TR 1.2%

Value ($000) $54,208 (+15.3%) Shares 634,975 (+3.3%) Est. Cost $45.32 Unrealized —

IEFA ISHARES TR 0.5%

Value ($000) $22,221 (+28.5%) Shares 248,385 (+25.4%) Est. Cost $79.83 Unrealized —

TOV EA SERIES TRUST 0.3%

Value ($000) $12,084 (+44.4%) Shares 421,343 (+41.4%) Est. Cost $25.00 Unrealized —

BCI ABRDN ETFS 1.0%

Value ($000) $45,082 (+5.6%) Shares 2,308,347 (+16.5%) Est. Cost $20.24 Unrealized —

HEFA ISHARES TR 0.2%

Value ($000) $9,974 (+5.9%) Shares 241,150 (+1.4%) Est. Cost $32.10 Unrealized —

EFA ISHARES TR 0.2%

Value ($000) $11,637 (+4.4%) Shares 121,179 (+1.5%) Est. Cost $77.75 Unrealized —

VSS VANGUARD INTL EQUITY INDEX F 0.0%

Value ($000) $1,560 (+34.8%) Shares 10,882 (+34.1%) Est. Cost $121.82 Unrealized —

ESGD ISHARES TR 0.0%

Value ($000) $1,269 (+9.2%) Shares 13,340 (+6.8%) Est. Cost $79.68 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VCIT	VANGUARD SCOTTSDALE FDS	6,093,365 (+37.8%)	$510,319 (+37.2%)	10.9%	$80.14	—	INT-TERM CORP	92206C870
VOO	VANGUARD INDEX FDS	1,017,491 (+24.3%)	$638,099 (+27.3%)	13.6%	$502.61	—	S&P 500 ETF SHS	922908363
VEA	VANGUARD TAX-MANAGED FDS	4,575,987 (+66.2%)	$285,862 (+73.3%)	6.1%	$54.58	—	VAN FTSE DEV MKT	921943858
VGIT	VANGUARD SCOTTSDALE FDS	8,137,837 (+25.7%)	$487,701 (+25.5%)	10.4%	$58.43	—	INTER TERM TREAS	92206C706
VTC	VANGUARD SCOTTSDALE FDS	3,533,516 (+43.9%)	$274,342 (+42.5%)	5.8%	$75.60	—	TOTAL CORP BND	92206C573
SCHP	SCHWAB STRATEGIC TR	7,572,111 (+64.9%)	$200,585 (+62.1%)	4.3%	$32.11	—	US TIPS ETF	808524870
USHY	ISHARES TR	4,179,289 (+63.0%)	$156,285 (+61.4%)	3.3%	$36.45	—	BROAD USD HIGH	46435U853
VCSH	VANGUARD SCOTTSDALE FDS	5,763,304 (+15.0%)	$459,508 (+14.7%)	9.8%	$76.88	—	SHRT TRM CORP BD	92206C409
VWO	VANGUARD INTL EQUITY INDEX F	3,017,415 (+51.1%)	$162,216 (+50.0%)	3.5%	$45.82	—	FTSE EMR MKT ETF	922042858
VXF	VANGUARD INDEX FDS	626,535 (+68.4%)	$131,021 (+68.2%)	2.8%	$181.75	—	EXTEND MKT ETF	922908652
VGSH	VANGUARD SCOTTSDALE FDS	1,993,299 (+62.5%)	$117,066 (+62.2%)	2.5%	$58.03	—	SHORT TERM TREAS	92206C102
VGLT	VANGUARD SCOTTSDALE FDS	7,763,007 (+12.8%)	$433,176 (+10.7%)	9.2%	$57.07	—	LONG TERM TREAS	92206C847
VT	VANGUARD INTL EQUITY INDEX F	930,776 (+23.2%)	$131,295 (+26.1%)	2.8%	$118.84	—	TT WRLD ST ETF	922042742
VTV	VANGUARD INDEX FDS	704,920 (+20.0%)	$134,633 (+22.9%)	2.9%	$157.31	—	VALUE ETF	922908744
SHYG	ISHARES TR	2,632,283 (+19.6%)	$112,846 (+18.4%)	2.4%	$42.09	—	0-5YR HI YL CP	46434V407
GNR	SPDR INDEX SHS FDS	870,237 (+19.1%)	$54,077 (+25.0%)	1.2%	$56.05	—	GLB NAT RESRCE	78463X541
IGF	ISHARES TR	834,157 (+25.3%)	$51,184 (+25.7%)	1.1%	$50.52	—	GLB INFRASTR ETF	464288372
REET	ISHARES TR	2,040,739 (+24.2%)	$50,916 (+21.2%)	1.1%	$23.46	—	GLOBAL REIT ETF	46434V647
IWV	ISHARES TR	45,961 (+65.0%)	$17,780 (+68.5%)	0.4%	$354.88	—	RUSSELL 3000 ETF	464287689
GLDM	WORLD GOLD TR	634,975 (+3.3%)	$54,208 (+15.3%)	1.2%	$45.32	—	SPDR GLD MINIS	98149E303
IEFA	ISHARES TR	248,385 (+25.4%)	$22,221 (+28.5%)	0.5%	$79.83	—	CORE MSCI EAFE	46432F842
TOV	EA SERIES TRUST	421,343 (+41.4%)	$12,084 (+44.4%)	0.3%	$25.00	—	JLENS 500 JEWISH	02072Q846
BCI	ABRDN ETFS	2,308,347 (+16.5%)	$45,082 (+5.6%)	1.0%	$20.24	—	BBRG ALL COMD K1	003261104
HEFA	ISHARES TR	241,150 (+1.4%)	$9,974 (+5.9%)	0.2%	$32.10	—	HDG MSCI EAFE	46434V803
EFA	ISHARES TR	121,179 (+1.5%)	$11,637 (+4.4%)	0.2%	$77.75	—	MSCI EAFE ETF	464287465
VSS	VANGUARD INTL EQUITY INDEX F	10,882 (+34.1%)	$1,560 (+34.8%)	0.0%	$121.82	—	FTSE SMCAP ETF	922042718
ESGD	ISHARES TR	13,340 (+6.8%)	$1,269 (+9.2%)	0.0%	$79.68	—	ESG AW MSCI EAFE	46435G516

Exited Positions (2)

VO VANGUARD INDEX FDS 0.6%

Value ($000) $26,171 Shares 89,095 Est. Cost $280.60 Unrealized —

IEF ISHARES TR 0.2%

Value ($000) $11,281 Shares 116,950 Est. Cost $96.46 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VO	VANGUARD INDEX FDS	89,095	$26,171	0.6%	$280.60	—	—	922908629
IEF	ISHARES TR	116,950	$11,281	0.2%	$96.46	—	—	464287440

Decreased Positions (3)

IEMG ISHARES INC 0.3%

Value ($000) $12,487 (-88.1%) Shares 185,768 (-88.3%) Est. Cost $51.67 Unrealized —

SPBO SPDR SERIES TRUST 0.2%

Value ($000) $7,593 (-84.4%) Shares 258,781 (-84.2%) Est. Cost $28.66 Unrealized —

SPHY SPDR SERIES TRUST 0.1%

Value ($000) $3,871 (-88.5%) Shares 163,549 (-88.3%) Est. Cost $23.28 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
IEMG	ISHARES INC	185,768 (-88.3%)	$12,487 (-88.1%)	0.3%	$51.67	—	CORE MSCI EMKT	46434G103
SPBO	SPDR SERIES TRUST	258,781 (-84.2%)	$7,593 (-84.4%)	0.2%	$28.66	—	PORTFOLIO CRPORT	78464A144
SPHY	SPDR SERIES TRUST	163,549 (-88.3%)	$3,871 (-88.5%)	0.1%	$23.28	—	PORTFOLI HIGH YLD	78468R606

Unchanged Positions (17)

PGR PROGRESSIVE CORP 0.3%

Value ($000) $14,800 Shares 64,992 Est. Cost $120.35 Unrealized +76.4%

SPY SPDR S&P 500 ETF TRUST 0.6%

Value ($000) $28,234 Shares 41,403 Est. Cost $435.21 Unrealized —

IVV ISHARES TR 0.2%

Value ($000) $10,503 Shares 15,334 Est. Cost $404.02 Unrealized —

EIS ISHARES INC 0.1%

Value ($000) $3,419 Shares 31,069 Est. Cost $56.62 Unrealized —

IWM ISHARES TR 0.3%

Value ($000) $12,516 Shares 50,846 Est. Cost $218.45 Unrealized —

EEM ISHARES TR 0.1%

Value ($000) $3,793 Shares 69,338 Est. Cost $52.33 Unrealized —

VTIP VANGUARD MALVERN FDS 0.1%

Value ($000) $3,243 Shares 65,564 Est. Cost $50.11 Unrealized —

ITOT ISHARES TR 0.1%

Value ($000) $3,729 Shares 25,076 Est. Cost $122.01 Unrealized —

IJH ISHARES TR 0.1%

Value ($000) $4,982 Shares 75,478 Est. Cost $92.24 Unrealized —

EFAX SPDR INDEX SHS FDS 0.1%

Value ($000) $2,688 Shares 53,260 Est. Cost $49.31 Unrealized —

IJR ISHARES TR 0.1%

Value ($000) $4,058 Shares 33,763 Est. Cost $89.19 Unrealized —

IYR ISHARES TR 0.0%

Value ($000) $2,042 Shares 21,747 Est. Cost $93.13 Unrealized —

ESGU ISHARES TR 0.0%

Value ($000) $2,072 Shares 13,905 Est. Cost $126.22 Unrealized —

SUSA ISHARES TR 0.0%

Value ($000) $1,065 Shares 7,646 Est. Cost $107.24 Unrealized —

SNPE DBX ETF TR 0.0%

Value ($000) $577 Shares 9,245 Est. Cost $53.27 Unrealized —

EAGG ISHARES TR 0.1%

Value ($000) $3,754 Shares 78,457 Est. Cost $47.16 Unrealized —

IGIB ISHARES TR 0.0%

Value ($000) $9 Shares 160 Est. Cost $54.99 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
PGR	PROGRESSIVE CORP	64,992	$14,800	0.3%	$120.35	+76.4%	COM	743315103
SPY	SPDR S&P 500 ETF TRUST	41,403	$28,234	0.6%	$435.21	—	TR UNIT	78462F103
IVV	ISHARES TR	15,334	$10,503	0.2%	$404.02	—	CORE S&P 500 ETF	464287200
EIS	ISHARES INC	31,069	$3,419	0.1%	$56.62	—	MSCI ISRAEL ETF	464286632
IWM	ISHARES TR	50,846	$12,516	0.3%	$218.45	—	RUSSELL 2000 ETF	464287655
EEM	ISHARES TR	69,338	$3,793	0.1%	$52.33	—	MSCI EMG MKT ETF	464287234
VTIP	VANGUARD MALVERN FDS	65,564	$3,243	0.1%	$50.11	—	STRM INFPROIDX	922020805
ITOT	ISHARES TR	25,076	$3,729	0.1%	$122.01	—	CORE S&P TTL STK	464287150
IJH	ISHARES TR	75,478	$4,982	0.1%	$92.24	—	CORE S&P MCP ETF	464287507
EFAX	SPDR INDEX SHS FDS	53,260	$2,688	0.1%	$49.31	—	MSCI EAFE FS ETF	78470E106
IJR	ISHARES TR	33,763	$4,058	0.1%	$89.19	—	CORE S&P SCP ETF	464287804
IYR	ISHARES TR	21,747	$2,042	0.0%	$93.13	—	U.S. REAL ES ETF	464287739
ESGU	ISHARES TR	13,905	$2,072	0.0%	$126.22	—	ESG AWR MSCI USA	46435G425
SUSA	ISHARES TR	7,646	$1,065	0.0%	$107.24	—	ESG OPTIMIZED	464288802
SNPE	DBX ETF TR	9,245	$577	0.0%	$53.27	—	XTRACKRS S&P 500	233051143
EAGG	ISHARES TR	78,457	$3,754	0.1%	$47.16	—	ESG AWR US AGRGT	46435U549
IGIB	ISHARES TR	160	$9	0.0%	$54.99	—	ISHS 5-10YR INVT	464288638