Investure LLC Portfolio holdings
Investure runs the investments of a limited number of endowments and private foundations as their outsourced investment office, managing each client's whole portfolio across asset classes. Alice Handy, a pioneer of outsourced chief investment officer services for nonprofits, founded it in 2003 and served as its chief executive and president until 2018. Middlebury College became its second client in 2005. Investure invests as a principal rather than advising as a consultant, and much of its work is choosing outside investment managers to build each client's portfolio, alongside some direct investments. Bruce Miller is its principal owner, and the firm is owned entirely by its partner-level employees.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Vanguard S&P 500 ETF
VOO
|
+$255M |
| 2 |
Vivmark Residential
VMRK
|
+$26.2M |
| 3 |
iShares Core MSCI EAFE ETF
IEFA
|
+$1.04M |
| 4 |
iShares Core MSCI Emerging Markets ETF
IEMG
|
+$637K |
| 5 |
iShares Core US Aggregate Bond ETF
AGG
|
+$103K |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
AvalonBay Communities
AVB
|
+$26.8M |
| 2 |
Vanguard Morningstar Total Stock Market ETF
VTI
|
+$17.4M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Miscellaneous | 89.43% |
| 2 | Real Estate | 10.57% |
| 3 | Industrials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
|
1
Vanguard S&P 500 ETF
VOO
$1.04T
| $689M | 37.58% |
982,531
+365,365
| +59% | +$255M |
2015 Q4
43 quarters
|
|
2
JPMorgan BetaBuilders Japan ETF
BBJP
$18.6B
| $258M | 14.08% |
3,287,302
| – | – |
2026 Q1
2 quarters
|
|
|
3
Vanguard Morningstar Total Stock Market ETF
VTI
$689B
| $208M | 11.36% |
556,254
-46,359
| -8% | -$17.4M |
2019 Q4
27 quarters
|
|
|
4
iShares Core MSCI EAFE ETF
IEFA
$191B
| $191M | 10.4% |
1,967,385
+10,535
| +0.5% | +$1.04M |
2019 Q2
29 quarters
|
|
|
5
iShares Core MSCI Emerging Markets ETF
IEMG
$146B
| $187M | 10.21% |
2,304,246
+7,920
| +0.3% | +$637K |
2019 Q2
29 quarters
|
|
6
State Street SPDR S&P Biotech ETF
XBI
$10.2B
| $65M | 3.55% |
412,250
| – | – |
2022 Q2
17 quarters
|
|
|
7
Vivmark Residential
VMRK
$49.5B
| $49.5M | 2.7% |
815,479
+396,410
| +95% | +$26.2M |
2020 Q2
25 quarters
|
|
8
Essex Property Trust
ESS
$17.5B
| $27.2M | 1.48% |
100,821
| – | – |
2020 Q2
25 quarters
|
|
9
iShares Low Carbon Optimized MSCI ACWI ETF
CRBN
$1.17B
| $26.9M | 1.47% |
104,863
| – | – |
2015 Q2
45 quarters
|
|
10
Invitation Homes
INVH
$15.4B
| $25M | 1.36% |
949,206
| – | – |
2020 Q2
25 quarters
|
|
11
American Homes 4 Rent
AMH
$11.5B
| $24.3M | 1.32% |
798,210
| – | – |
2026 Q1
2 quarters
|
|
12
Camden Property Trust
CPT
$9.8B
| $23M | 1.25% |
237,748
| – | – |
2020 Q2
25 quarters
|
|
13
UDR
UDR
$11.4B
| $22.9M | 1.25% |
682,339
| – | – |
2020 Q2
25 quarters
|
|
14
Mid-America Apartment Communities
MAA
$13.5B
| $21.8M | 1.19% |
185,368
| – | – |
2020 Q2
25 quarters
|
|
15
Vanguard Short-Term Treasury ETF
VGSH
$36.5B
| $12.8M | 0.7% |
222,200
| – | – |
2023 Q4
11 quarters
|
|
|
16
iShares Core US Aggregate Bond ETF
AGG
$137B
| $1.71M | 0.09% |
18,040
+1,065
| +6% | +$103K |
2024 Q4
7 quarters
|
|
17
Merlin Inc
MRLN
$97.5M
| $48.6K | ﹤0.01% |
+25,866
| New | +$88.7K |
2026 Q3
0 quarters
|
|
|
18
DELISTED
AvalonBay Communities
AVB
| – | – |
-141,930
| Closed | -$26.8M | – |
|
Similar funds
Investure LLC's Q3 2026 Portfolio in Review
As of Q3 2026, Investure LLC held 18 positions worth $1.83B, up 15% from $1.6B the previous quarter. Its ten largest holdings account for 94% of the portfolio.
Investure LLC deployed $239M of net new capital in Q3 2026, opening 1 new position and adding to 5 existing holdings. Its largest new stake was Merlin Inc: 25,866 shares worth $48.6K.
By sector, the portfolio is most concentrated in Miscellaneous at 89% of assets, up from 86% a quarter earlier, followed by Real Estate and Industrials.
On the sell side, the largest reduction was Vanguard Morningstar Total Stock Market ETF, an estimated $17.4M trimmed.
- Investure LLC's largest Q3 2026 buy was Merlin Inc: 25,866 shares worth $48.6K.
- Investure LLC added most to Vanguard S&P 500 ETF in Q3 2026, an estimated $255M increase.
- Investure LLC's biggest Q3 2026 reduction was Vanguard Morningstar Total Stock Market ETF, cutting an estimated $17.4M.
- Investure LLC fully exited AvalonBay Communities in Q3 2026, selling an estimated $26.8M.
- Investure LLC's ten largest holdings make up 94% of its $1.83B portfolio in Q3 2026.
- Investure LLC opened 1 new position and closed 1 in Q3 2026.
- Investure LLC's portfolio value rose 15% quarter-over-quarter to $1.83B.
Based on Investure LLC's 13F filing for Q3 2026, filed 9 Nov 2026.