Institutional Manager · CIK 0001303159

SCS Capital Management LLC

BOSTON, MA · File #028-14545

Latest AUM

$9.44B

Positions

493

Top-10 Concentration

64.3%

Filings

Portfolio Value Over Time

2024-03

2024-09

2024-12

2025-03

2025-06

2025-09

2025-12

Biggest QoQ Changes

Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.

Action	Issuer	Ticker / CUSIP	Δ Shares	Flow ($)	Price Effect
ADD	VANGUARD SCOTTSDALE FDS	92206C706	+1,805,448	+$108.2M	-$1.5M
ADD	VANGUARD INSTL INDEX FD	922040845	+1,354,320	+$102.2M	-$3,029
REDUCE	ISHARES TR	46432F339	-406,733	-$80.8M	+$5.1M
ADD	ISHARES TR	464287226	+466,651	+$46.6M	-$54,215
ADD	INVESCO EXCHANGE TRADED FD T	IVZ	+214,727	+$41.1M	+$710,352
ADD	VANGUARD INTL EQUITY INDEX F	922042742	+196,569	+$27.7M	+$1.8M
REDUCE	VANGUARD TAX-MANAGED FDS	921943858	-317,931	-$19.9M	+$25.0M
REDUCE	VANGUARD INDEX FDS	922908744	-78,227	-$14.9M	+$5.0M
REDUCE	ASTRAZENECA PLC	AZN	-151,551	-$13.9M	+$2.8M
REDUCE	SPDR SERIES TRUST	78464A755	-132,249	-$13.7M	+$4.6M

Sector Allocation

Technology

2.8%$264.4M

Financials

2.8%$260.4M

Healthcare

1.8%$174.4M

Consumer Discretionary

1.2%$114.9M

Consumer Staples

0.9%$90.3M

Industrials

0.9%$87.1M

Communication Services

0.9%$81.7M

0.6%$59.3M

0.3%$24.2M

0.2%$16.8M

0.1%$7.2M

Filing History

Feb 10, 202613F HOLDINGS REPORTQ/E Dec 2025493 pos · $9.44B
Nov 13, 202513F HOLDINGS REPORTQ/E Sep 2025511 pos · $9.18B
Aug 13, 202513F HOLDINGS REPORTQ/E Jun 2025549 pos · $9.02B
May 19, 202513F HOLDINGS REPORT (Amended)Q/E Mar 2025513 pos · $7.86B
May 14, 202513F HOLDINGS REPORTQ/E Mar 2025513 pos · $7.86B
Feb 14, 202513F HOLDINGS REPORTQ/E Dec 202469 pos · $4.85B
Nov 14, 202413F HOLDINGS REPORTQ/E Sep 202468 pos · $4.96B
Oct 1, 202413F HOLDINGS REPORTQ/E Sep 202467 pos · $4.77B
Aug 13, 202413F HOLDINGS REPORT (Amended)Q/E Jun 202471 pos · $4.70B
Aug 13, 202413F HOLDINGS REPORT (Amended)Q/E Jun 202466 pos · $4.38B
May 14, 202413F HOLDINGS REPORTQ/E Mar 202470 pos · $4.68B
Nov 13, 202313F HOLDINGS REPORTQ/E Dec 202359 pos · $3.75B

Top 20 Holdings — Dec 2025

#	Issuer	Ticker	Shares	Value	% of Portfolio
1	VANGUARD SCOTTSDALE FDS	92206C706	16,724,645	$1.00B	12.93%
2	VANGUARD INDEX FDS	922908769	2,539,532	$851.4M	10.98%
3	ISHARES TR	464287689	1,874,800	$725.3M	9.36%
4	VANGUARD TAX-MANAGED FDS	921943858	9,489,679	$592.8M	7.65%
5	SPDR S&P 500 ETF TR	SPY	704,587	$481.2M	6.21%
6	SCHWAB STRATEGIC TR	808524102	11,909,368	$312.4M	4.03%
7	SCHWAB STRATEGIC TR	808524805	12,527,998	$301.2M	3.89%
8	VANGUARD INDEX FDS	922908363	462,701	$290.2M	3.74%
9	VANGUARD WHITEHALL FDS	921946406	1,505,250	$216.0M	2.79%
10	SPDR SERIES TRUST	78464A854	2,627,987	$210.8M	2.72%
11	VANGUARD INDEX FDS	922908744	1,042,872	$199.2M	2.57%
12	SPDR SERIES TRUST	78464A409	1,845,611	$196.9M	2.54%
13	VANGUARD INTL EQUITY INDEX F	922042858	3,572,897	$192.1M	2.48%
14	ISHARES TR	46432F339	837,390	$166.3M	2.15%
15	ISHARES TR	46432F842	1,697,724	$151.9M	1.96%
16	INVESCO EXCHANGE TRADED FD T	IVZ	596,705	$114.3M	1.47%
17	VANGUARD INTL EQUITY INDEX F	922042742	734,752	$103.6M	1.34%
18	VANGUARD INSTL INDEX FD	922040845	1,370,698	$103.4M	1.33%
19	VANGUARD MUN BD FDS	922907746	1,945,859	$97.9M	1.26%
20	ISHARES TR	464287200	118,383	$81.1M	1.05%