PARTNERS CAPITAL INVESTMENT GROUP, LLP Q2 2025 Filing

Filed August 14, 2025

Portfolio Value

$2.5B

Holdings

161

Report Date

Q2 2025

Filing Type

13F-HR

All Holdings (161 positions)

#	Stock	Shares	Value	% Portfolio
1	IVViShares Core S&P 500 ETF	815,096	$506.1M	20.28%
2	VGSHVanguard Short-Term Treasury ETF	2,618,804	$153.9M	6.17%
3	IEMGiShares Core MSCI Emerging Markets ETF	2,278,484	$136.8M	5.48%
4	HEFAiShares Currency Hedged MSCI EAFE ETF	3,190,737	$121.1M	4.85%
5	VTVVanguard Value ETF	662,810	$117.1M	4.69%
6	VOOVanguard S&P 500 ETF	202,662	$115.1M	4.61%
7	EMXCiShares MSCI Emerging Markets ex China ETF	1,449,780	$91.5M	3.67%
8	STIPiShares 0-5 Year TIPS Bond ETF	816,725	$84.0M	3.37%
9	VTVanguard Total World Stock ETF	645,450	$83.0M	3.32%
10	ITOTiShares Core S&P Total US Stock Market ETF	582,276	$78.6M	3.15%
11	AQLTiShares Core MSCI EAFE ETF	852,010	$71.1M	2.85%
12	TIPiShares TIPS Bond ETF	524,888	$57.8M	2.31%
13	DBJPXtrackers MSCI Japan Hedged Equity ETF	702,840	$53.7M	2.15%
14	ACWIiShares MSCI ACWI ETF	385,120	$49.5M	1.98%
15	IEFiShares 7-10 Year Treasury Bond ETF	396,173	$37.9M	1.52%
16	SPYSPDR S&P 500 ETF Trust	56,706	$35.0M	1.40%
17	SNPSSynopsys Inc	56,706	$35.0M	1.40%
18	REETiShares Global REIT ETF	1,338,032	$33.0M	1.32%
19	EFAiShares MSCI EAFE ETF	340,560	$30.4M	1.22%
20	BILSSPDR Bloomberg 3-12 Month T-Bill ETF	294,974	$29.3M	1.18%
21	SGOViShares 0-3 Month Treasury Bond ETF	262,451	$26.4M	1.06%
22	EWJiShares MSCI Japan ETF	327,359	$24.5M	0.98%
23	IAUUSDiShares Gold Trust	349,933	$21.8M	0.87%
24	VGITVanguard Intermediate-Term Treasury ETF	344,943	$20.6M	0.83%
25	HEWJiShares Currency Hedged MSCI Japan ETF	454,634	$20.4M	0.82%
26	USHYiShares Broad USD High Yield Corporate Bond ETF	498,961	$18.7M	0.75%
27	SUBiShares Short-Term National Muni Bond ETF	157,870	$16.8M	0.67%
28	DXJWisdomTree Japan Hedged Equity Fund	126,036	$14.4M	0.58%
29	HAWXiShares Currency Hedged MSCI ACWI EX US ETF	397,056	$14.0M	0.56%
30	XCEMColumbia EM Core ex-China ETF	406,326	$13.9M	0.56%
31	XLEEnergy Select Sector SPDR Fund	145,718	$12.4M	0.50%
32	VNQVanguard Real Estate ETF	138,725	$12.4M	0.50%
33	BILSPDR Bloomberg Barclays 1-3 Month T-Bill ETF	123,000	$11.3M	0.45%
34	IWViShares Russell 3000 ETF	29,690	$10.4M	0.42%
35	VTWOVanguard Russell 2000 ETF	113,810	$9.9M	0.40%
36	SPYXSPDR S&P 500 Fossil Fuel Reserves Free ETF	192,077	$9.8M	0.39%
37	MCHIiShares MSCI China ETF	167,230	$9.2M	0.37%
38	SHYiShares 1-3 Year Treasury Bond ETF	104,613	$8.7M	0.35%
39	MSFTMicrosoft Corp	16,878	$8.4M	0.34%
40	VNOVornado Realty Trust	203,558	$7.8M	0.31%
41	ISRAVanEck Israel ETF	145,123	$7.5M	0.30%
42	METAMeta Platforms Inc	9,855	$7.3M	0.29%
43	EPPiShares MSCI Pacific ex Japan ETF	138,569	$6.8M	0.27%
44	SHViShares Short Treasury Bond ETF	60,905	$6.7M	0.27%
45	DBEFXtrackers MSCI EAFE Hedged Equity ETF	152,638	$6.7M	0.27%
46	SLG2EURSL Green Realty Corp	101,607	$6.3M	0.25%
47	PWRDTCW Transform Systems ETF	67,705	$6.1M	0.24%
48	NDQInvesco QQQ Trust Series 1	10,922	$6.0M	0.24%
49	IWMiShares Russell 2000 ETF	26,595	$5.7M	0.23%
50	ICEIntercontinental Exchange Inc	30,404	$5.6M	0.22%
51	SRLNSPDR Blackstone Senior Loan ETF	133,464	$5.6M	0.22%
52	T7DTransdigm Group Inc	3,648	$5.5M	0.22%
53	VTIVanguard Total Stock Market ETF	18,213	$5.5M	0.22%
54	TYLTyler Technologies Inc	9,197	$5.5M	0.22%
55	QUALiShares Edge MSCI USA Quality Factor ETF	29,658	$5.4M	0.22%
56	CTVACorteva Inc	71,127	$5.3M	0.21%
57	RSPInvesco S&P 500 Equal Weight ETF	28,448	$5.2M	0.21%
58	NVSNovartis AG	42,461	$5.1M	0.21%
59	MUSAMurphy USA Inc	12,594	$5.1M	0.21%
60	VVisa Inc	14,363	$5.1M	0.20%
61	TSMTaiwan Semiconductor Manufacturing Co Ltd	21,935	$5.0M	0.20%
62	URTHiShares MSCI World ETF	28,981	$4.9M	0.20%
63	SCHWCharles Schwab Corp/The	53,093	$4.8M	0.19%
64	DEDeere & Co	9,328	$4.7M	0.19%
65	NWSANews Corp	150,884	$4.5M	0.18%
66	GOOGLAlphabet Inc	25,276	$4.5M	0.18%
67	ABBNYABB Ltd	74,204	$4.4M	0.18%
68	LINLinde PLC	9,296	$4.4M	0.17%
69	—Danone SA	70,457	$4.4M	0.17%
70	BNBrookfield Corp	70,457	$4.4M	0.17%
71	QSRRestaurant Brands International Inc	63,878	$4.2M	0.17%
72	VMCVulcan Materials Co	15,741	$4.1M	0.16%
73	DBEUXtrackers MSCI Europe Hedged Equity ETF	90,998	$4.0M	0.16%
74	EXPEExpedia Group Inc	23,273	$3.9M	0.16%
75	FERGFerguson PLC	17,835	$3.9M	0.16%
76	GQ9SPDR Gold Shares	12,310	$3.8M	0.15%
77	USBUS Bancorp	82,331	$3.7M	0.15%
78	NOWServiceNow Inc	3,535	$3.6M	0.15%
79	CRMsalesforce.com Inc	13,075	$3.6M	0.14%
80	BMYBristol-Myers Squibb Co	72,210	$3.3M	0.13%
81	TMOThermo Fisher Scientific Inc	8,056	$3.3M	0.13%
82	VPLVanguard FTSE Pacific ETF	39,385	$3.2M	0.13%
83	ESGUiShares Trust iShares ESG Aware MSCI USA ETF	23,873	$3.2M	0.13%
84	MUBiShares National Muni Bond ETF	29,222	$3.1M	0.12%
85	AVGOBroadcom Inc	10,834	$3.0M	0.12%
86	VTIPVanguard Short-Term Inflation-Protected Securities ETF	57,514	$2.9M	0.12%
87	USMViShares Edge MSCI Min Vol USA ETF	29,108	$2.7M	0.11%
88	AAPLApple Inc	12,620	$2.6M	0.10%
89	ONCBeiGene Ltd	10,360	$2.5M	0.10%
90	REZiShares Residential and Multisector Real Estate ETF	28,990	$2.4M	0.10%
91	INDAiShares MSCI India ETF	41,894	$2.3M	0.09%
92	IYWiShares U.S. Technology ETF	13,367	$2.3M	0.09%
93	JBTJohn Bean Technologies Corp	17,252	$2.1M	0.08%
94	INCYIncyte Corp	29,579	$2.0M	0.08%
95	ARGXArgenx SE	3,504	$1.9M	0.08%
96	FULHB Fuller Co	28,283	$1.7M	0.07%
97	UTHUnited Therapeutics Corp	5,839	$1.7M	0.07%
98	IWRiShares Russell Mid-Cap ETF	17,823	$1.6M	0.07%
99	KWEBKraneShares CSI China Internet ETF	46,890	$1.6M	0.06%
100	IEIiShares 3-7 Year Treasury Bond ETF	12,534	$1.5M	0.06%

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