NEPC LLC Portfolio holdings

AUM $3.61B

This Quarter Return

+1.48%

1 Year Return

+3.09%

3 Year Return

+8.04%

5 Year Return

+42.88%

10 Year Return

–

AUM

$3.61B

AUM Growth

-$113M (-3%)

Cap. Flow

-$164M

Cap. Flow % of AUM

-4.53%

Top 10 Holdings %Top 10 Hldgs %

73.41%

Holding

New

Increased

Reduced

Closed

Top Buys

1	Vanguard Short-Term Corporate Bond ETF VCSH	$52M
2	Vanguard Intermediate-Term Corporate Bond ETF VCIT	$40.1M
3	Vanguard S&P 500 ETF VOO	$35.5M
4	Vanguard FTSE Developed Markets ETF VEA	$27.8M
5	Vanguard Long-Term Treasury ETF VGLT	$17M

Top Sells

1	SPDR Portfolio Corporate Bond ETF SPBO	$96.2M
2	Vanguard Total World Stock ETF VT	$74.3M
3	Schwab US TIPS ETF SCHP	$51.1M
4	Vanguard Short-Term Treasury ETF VGSH	$40.3M
5	Vanguard FTSE Emerging Markets ETF VWO	$38.2M

Sector Composition

Financials

0.57%

#	Name	Market Value	Portfolio Weight	Shares or Principal	Shares Change %	Capital Flow
1	1 Vanguard S&P 500 ETF VOO $687B	$400M	11.08%	778,921 +69,040	+10%	+$35.5M
2	2 Vanguard Short-Term Corporate Bond ETF VCSH $34.2B	$384M	10.63%	4,864,970 +658,773	+16%	+$52M
3	3 Vanguard Intermediate-Term Treasury ETF VGIT $31.5B	$377M	10.45%	6,354,852 -344,942	-5%	-$20.5M
4	4 Vanguard Long-Term Treasury ETF VGLT $9.52B	$366M	10.14%	6,357,273 +295,403	+5%	+$17M
5	5 Vanguard Intermediate-Term Corporate Bond ETF VCIT $54B	$352M	9.73%	4,299,709 +490,792	+13%	+$40.1M
6	6 Vanguard Total Corporate Bond ETF VTC $1.18B	$189M	5.22%	2,455,525	–	–
7	7 Schwab US TIPS ETF SCHP $13B	$154M	4.27%	5,736,286 -1,901,181	-25%	-$51.1M
8	8 Vanguard Total World Stock ETF VT $48.8B	$154M	4.26%	1,326,000 -641,195	-33%	-$74.3M
9	9 Vanguard FTSE Developed Markets ETF VEA $162B	$144M	4%	2,840,808 +546,827	+24%	+$27.8M
10	10 Vanguard Value ETF VTV $138B	$131M	3.64%	761,166	–	–
11	11 Vanguard FTSE Emerging Markets ETF VWO $92.5B	$95.7M	2.65%	2,113,375 -844,563	-29%	-$38.2M
12	12 iShares Broad USD High Yield Corporate Bond ETF USHY $23.9B	$94.4M	2.61%	2,563,323	–	–
13	13 iShares 0-5 Year High Yield Corporate Bond ETF SHYG $6.81B	$93.6M	2.59%	2,200,963	–	–
14	14 SPDR Portfolio Corporate Bond ETF SPBO $1.61B	$91.3M	2.53%	3,144,313 -3,315,216	-51%	-$96.2M
15	15 iShares Core MSCI Emerging Markets ETF IEMG $98.4B	$84.2M	2.33%	1,559,913 +13,520	+0.9%	+$730K
16	16 Vanguard Extended Market ETF VXF $22.5B	$76M	2.1%	441,206 -31,025	-7%	-$5.34M
17	17 Vanguard Short-Term Treasury ETF VGSH $22.7B	$72M	1.99%	1,226,718 -686,917	-36%	-$40.3M
18	18 SPDR Gold MiniShares Trust GLDM $16B	$39.9M	1.1%	644,121 -85,409	-12%	-$5.29M
19	19 abrdn Bloomberg All Commodity Strategy K-1 Free ETF BCI $1.64B	$39.4M	1.09%	1,835,142 -48,056	-3%	-$1.03M
20	20 SPDR S&P Global Natural Resources ETF GNR $2.85B	$38.9M	1.08%	730,890 +37,850	+5%	+$2.02M
21	21 iShares Global Infrastructure ETF IGF $7.44B	$38.8M	1.07%	709,810 +18,611	+3%	+$1.02M
22	22 iShares Global REIT ETF REET $3.88B	$37.9M	1.05%	1,562,057 +82,034	+6%	+$1.99M
23	23 SPDR Portfolio High Yield Bond ETF SPHY $8.71B	$31.4M	0.87%	1,342,791 -22,691	-2%	-$531K
24	24 Progressive PGR $142B	$20.5M	0.57%	72,380 -6,260	-8%	-$1.77M
25	25 SPDR S&P 500 ETF Trust SPY $641B	$20M	0.55%	35,789	–	–