SCS Capital Management LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 11, 2026), SCS Capital Management LLC reported 466 stock positions worth $9.4 billion. Its top holding was Vanguard Intermediate-Term T (VGIT) at 12.1% of the portfolio, followed by VG Morningstar TS MKT ETF-US (VTI, 8.8%) and iShares Russell 3000 ETF (IWV, 7.3%). Compared with Q4 2025, it opened 17 new positions, sold out of 42, added to 90 and reduced 270. The biggest buy was Vanguard Intermediate-Term T (VGIT, shares +15%) and the biggest sale iShares Core U.S. Aggregate (AGG, shares −69%).
- Most Recent 13F
- Q2 2026
- Location
- BOSTON, MA
- CIK
- 0001303159
- Portfolio Value
- $9.4B (Q1 2026)
- SEC Filing
- 0001303159-26-000002 ↗ filed May 11, 2026
Holdings Value
Holdings 466 stocks · $9.4B
| VGIT Vanguard Intermediate-Term T | 12.14% | 19,248,384 | $1.1B | Add +15.1% |
| VTI VG Morningstar TS MKT ETF-US | 8.85% | 2,603,399 | $835.2M | Add +2.5% |
| IWV iShares Russell 3000 ETF | 7.33% | 1,865,658 | $691.6M | Reduce -0.5% |
| VEA Vanguard Ftse Developed ETF | 6.32% | 9,303,611 | $596.2M | Reduce -2.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 4.83% | 701,082 | $456.2M | Reduce -0.5% |
| SCHF Schwab Intl Equity ETF | 3.27% | 12,487,960 | $309.1M | Reduce -0.3% |
| SCHB Schwab US Broad Market ETF | 3.18% | 11,970,120 | $300.5M | Add +0.5% |
| VOO Vanguard S&P 500 ETF | 2.81% | 443,159 | $264.8M | Reduce -4.2% |
| SPYM Ste STR SPDR PT S&P 500 ETF | 2.52% | 3,104,457 | $237.6M | Add +18.1% |
| VYM Vanguard High DVD Yield ETF | 2.30% | 1,463,217 | $216.7M | Reduce -2.8% |
| VTV Vanguard Mrngstr Val ETF-Aui | 2.11% | 1,014,417 | $199.0M | Reduce -2.7% |
| VWO Vanguard Ftse Emerging Marke | 2.06% | 3,601,987 | $194.7M | Add +0.8% |
| SPYG SS SPDR P S&P 500 Growth ETF | 2.01% | 1,940,333 | $190.0M | Add +5.1% |
| VT Vanguard Tot World STK ETF | 1.81% | 1,232,397 | $170.5M | Add +67.7% |
| QUAL iShares MSCI USA Quality Fac | 1.62% | 797,152 | $152.9M | Reduce -4.8% |
| IEFA iShares Core MSCI Eafe ETF | 1.59% | 1,661,066 | $150.4M | Reduce -2.2% |
| RSP Invesco S&P 500 Equal Weight | 1.36% | 666,560 | $127.9M | Add +11.7% |
| VBIL Vanguard 0-3M T-Bill ETF | 1.19% | 1,483,843 | $112.3M | Add +8.3% |
| STIP iShares 0-5 Year Tips Bond E | 1.06% | 967,994 | $100.1M | Add +78.3% |
| VTEB Vanguard Tax-Exempt Bond ETF | 1.02% | 1,930,365 | $96.3M | Reduce -0.8% |
| IVV iShares Core S&P 500 ETF | 0.81% | 116,534 | $76.1M | Reduce -1.6% |
| NYT New York Times Co. Class A | 0.70% | 794,746 | $66.5M | Add +12.0% |
| VONG Vanguard Russell 1000 Growth | 0.68% | 581,773 | $63.8M | Reduce -6.4% |
| VDE Vanguard Energy ETF | 0.68% | 368,445 | $63.8M | Reduce -0.7% |
| VB Vanguard Most SM-Cap ETF-Usd | 0.61% | 219,708 | $57.5M | Add +75.2% |
| VIGI Vanguard Int Div App Indx FD | 0.60% | 642,938 | $56.9M | Reduce -10.7% |
| VGLT Vanguard Long-Term Treasury | 0.60% | 1,024,245 | $56.7M | Add +14.4% |
| XPEL Xpel Inc. | 0.58% | 1,241,540 | $55.0M | No change |
| EFA iShares MSCI Eafe ETF | 0.57% | 555,447 | $54.0M | Reduce -5.5% |
| IVW iShares S&P 500 Growth ETF | 0.57% | 471,760 | $53.4M | Reduce -0.1% |
| AAPL Apple Inc. | 0.53% | 198,859 | $50.5M | Reduce -6.4% |
| ALNY Alnylam Pharmaceuticals Inc. | 0.52% | 149,547 | $49.5M | Reduce -0.0% |
| ESGV Vanguard ESG US Stock ETF | 0.46% | 390,533 | $43.8M | Reduce -0.6% |
| VNQ Vanguard Real Estate ETF | 0.45% | 474,337 | $42.1M | Add +6.3% |
| IEMG iShares Core MSCI Emerging | 0.44% | 601,676 | $42.0M | Add +4.1% |
| MSFT Microsoft Corp. | 0.41% | 105,585 | $39.1M | Reduce -2.8% |
| PDBC Invesco Optimum Yield Divers | 0.39% | 2,150,175 | $37.2M | Add +1.8% |
| JNJ Johnson & Johnson | 0.39% | 151,322 | $37.0M | Reduce -6.2% |
| GLD SPDR Gold Shares | 0.37% | 82,193 | $35.4M | Reduce -3.4% |
| IJH iShares Core S&P Midcap ETF | 0.37% | 515,878 | $34.8M | Reduce -13.1% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.36% | 112,445 | $33.6M | Reduce -0.4% |
| IQLT iShares MSCI International Q | 0.35% | 706,619 | $32.7M | Reduce -7.3% |
| JPM JPMorgan Chase & Co. | 0.34% | 109,846 | $32.3M | Reduce -6.2% |
| IUSG iShares Core S&P U.S. Growth | 0.33% | 203,649 | $31.6M | Reduce -1.0% |
| VSGX Vanguard ESG Intl Stock ETF | 0.33% | 439,043 | $31.5M | Reduce -1.3% |
| MDY State Street SPDR S&P Midcap | 0.33% | 50,341 | $31.0M | Reduce -4.0% |
| XME SS SPDR S&P Metals Mining | 0.33% | 284,674 | $30.7M | Reduce -7.5% |
| IWF iShares Russell 1000 Growth | 0.32% | 71,198 | $30.4M | Reduce -1.1% |
| AVGO Broadcom Inc. | 0.32% | 96,483 | $29.9M | Reduce -6.3% |
| KO The Coca-Cola Co. | 0.31% | 386,144 | $29.5M | Reduce -3.4% |
| NVDA Nvidia Corp. | 0.29% | 159,027 | $27.7M | Reduce -7.6% |
| TRGP Targa Resources Corp. | 0.29% | 109,921 | $27.6M | Reduce -3.7% |
| QQQ Invesco QQQ Trust Series 1 | 0.29% | 47,116 | $27.2M | Reduce -7.7% |
| SCHE Schwab Emrg Mrkts Eqty ETF | 0.26% | 749,111 | $24.7M | Add +0.9% |
| BND Vanguard Total Bond Market | 0.25% | 325,719 | $24.0M | Reduce -28.3% |
| MS Morgan Stanley | 0.25% | 145,098 | $23.9M | Reduce -8.7% |
| AMZN Amazon.com Inc. | 0.24% | 108,250 | $22.5M | Add +6.0% |
| RTX RTX Corp. | 0.24% | 116,762 | $22.5M | Reduce -37.1% |
| VIG Vanguard Dividend Apprec ETF | 0.23% | 99,206 | $21.3M | Reduce -9.8% |
| VGT Vanguard Info Tech ETF | 0.22% | 29,756 | $20.8M | Add +1.7% |
| AGIO Agios Pharmaceuticals Inc. | 0.22% | 612,850 | $20.7M | Add +2.4% |
| WMT Walmart Inc. | 0.22% | 166,224 | $20.7M | Reduce -20.3% |
| VTR Ventas Inc. | 0.21% | 236,038 | $19.4M | Reduce -1.1% |
| AGG iShares Core U.S. Aggregate | 0.20% | 188,182 | $18.7M | Reduce -69.3% |
| SHEL Shell PLC-ADR | 0.20% | 199,016 | $18.5M | Reduce -1.7% |
| VMC Vulcan Materials Co. | 0.19% | 66,588 | $18.1M | No change |
| EVLV Evolv Technologies Holdings | 0.19% | 2,956,159 | $17.9M | Reduce -4.5% |
| STZ Constellation Brands Inc. Class A | 0.19% | 119,075 | $17.9M | New |
| IWB iShares Russell 1000 ETF | 0.19% | 48,996 | $17.5M | Reduce -0.3% |
| TFC Truist Financial Corp. | 0.18% | 371,298 | $17.1M | Reduce -3.8% |
| AZN Astrazeneca PLC | 0.18% | 87,349 | $17.0M | Add +445.0% |
| META Meta Platforms Inc. Class A | 0.18% | 29,708 | $17.0M | Reduce -31.0% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.18% | 38,613 | $16.9M | Reduce -1.1% |
| PHM Pultegroup Inc. | 0.18% | 140,596 | $16.5M | No change |
| TSM Taiwan Semiconductor-SP ADR | 0.17% | 48,408 | $16.4M | Reduce -9.4% |
| CVX Chevron Corp. | 0.17% | 79,190 | $16.4M | Reduce -8.6% |
| FDX FedEx Corp. | 0.17% | 45,739 | $16.3M | Reduce -4.0% |
| RIO Rio Tinto PLC-Spon ADR | 0.17% | 170,697 | $16.3M | Add +5925.3% |
| SPDW Ste STR SPDR PT DW Eu ETF | 0.17% | 349,934 | $16.0M | Add +0.3% |
| IJR iShares Core S&P Small-Cap E | 0.17% | 128,161 | $15.9M | Reduce -4.8% |
| CCEP Coca-Cola Europacific Partne | 0.17% | 172,981 | $15.7M | Reduce -3.7% |
| GOOG Alphabet Inc. Class C | 0.16% | 53,827 | $15.4M | Reduce -4.4% |
| DKS Dick's Sporting Goods Inc. | 0.16% | 76,460 | $15.2M | Add +7.5% |
| EEM iShares MSCI Emerging Market | 0.16% | 258,542 | $14.7M | Reduce -1.7% |
| QCOM Qualcomm Inc. | 0.15% | 112,892 | $14.5M | Add +15.5% |
| MUB iShares National Muni Bond E | 0.15% | 135,674 | $14.4M | Reduce -12.0% |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 0.15% | 824,088 | $14.0M | Reduce -25.7% |
| NSC Norfolk Southern Corp. | 0.14% | 47,339 | $13.6M | Reduce -17.0% |
| VEU Vanguard Ftse All-World Ex-U | 0.14% | 178,938 | $13.4M | Reduce -1.3% |
| GOVT iShares US Treasury Bond ETF | 0.14% | 570,825 | $13.1M | Reduce -1.3% |
| GS Goldman Sachs Group Inc. | 0.13% | 15,051 | $12.7M | Reduce -6.0% |
| HIW Highwoods Properties Inc. | 0.13% | 594,705 | $12.7M | Add +164.0% |
| XOM Exxon Mobil Corp. | 0.13% | 73,475 | $12.5M | Reduce -6.1% |
| TSLX Sixth Street Specialty Lendi | 0.13% | 666,377 | $12.2M | Add +2.5% |
| SCHX Schwab US Large-Cap ETF | 0.13% | 460,470 | $11.8M | Add +0.0% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.13% | 24,620 | $11.8M | Reduce -6.0% |
| CINF Cincinnati Financial Corp. | 0.12% | 74,918 | $11.8M | Add +0.0% |
| GOOGL Alphabet Inc. Class A | 0.12% | 38,920 | $11.2M | Reduce -10.2% |
| UL Unilever PLC-Sponsored ADR | 0.12% | 191,828 | $11.0M | Reduce -2.8% |
| TGT Target Corp. | 0.11% | 88,725 | $10.8M | Reduce -0.1% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $693K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | 325 | $387K | Reduce -5.3% |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | 265 | $306K | Reduce -8.3% |
Total filed on the 13F, all lines: $9.4B.
Portfolio Sells Q4 2025 → Q1 2026
| AGG iShares Core U.S. Aggregate | Reduce -69.3% | 0.20% | −0.45 |
| IWV iShares Russell 3000 ETF | Reduce -0.5% | 7.33% | −0.36 |
| SCHO Schwab Short-Term US Treas | Reduce -98.2% | 0.01% | −0.36 |
| VOO Vanguard S&P 500 ETF | Reduce -4.2% | 2.81% | −0.27 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.5% | 4.83% | −0.27 |
| HCA HCA Healthcare Inc. | Reduce -68.0% | 0.10% | −0.20 |
| QUAL iShares MSCI USA Quality Fac | Reduce -4.8% | 1.62% | −0.14 |
| MSFT Microsoft Corp. | Reduce -2.8% | 0.41% | −0.14 |
| VONG Vanguard Russell 1000 Growth | Reduce -6.4% | 0.68% | −0.13 |
| RTX RTX Corp. | Reduce -37.1% | 0.24% | −0.12 |
| META Meta Platforms Inc. Class A | Reduce -31.0% | 0.18% | −0.12 |
| ALNY Alnylam Pharmaceuticals Inc. | Reduce -0.0% | 0.52% | −0.11 |
| BND Vanguard Total Bond Market | Reduce -28.3% | 0.25% | −0.10 |
| VIGI Vanguard Int Div App Indx FD | Reduce -10.7% | 0.60% | −0.09 |
| AAPL Apple Inc. | Reduce -6.4% | 0.53% | −0.08 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -94.5% | 0.00% | −0.07 |
| D Dominion Energy Inc. | Reduce -95.9% | 0.00% | −0.06 |
| AFL Aflac Inc. | Sold out | 0.00% | −0.06 |
| AVGO Broadcom Inc. | Reduce -6.3% | 0.32% | −0.06 |
| JPM JPMorgan Chase & Co. | Reduce -6.2% | 0.34% | −0.06 |
| IVV iShares Core S&P 500 ETF | Reduce -1.6% | 0.81% | −0.05 |
| IVW iShares S&P 500 Growth ETF | Reduce -0.1% | 0.57% | −0.05 |
| NVDA Nvidia Corp. | Reduce -7.6% | 0.29% | −0.05 |
| IJH iShares Core S&P Midcap ETF | Reduce -13.1% | 0.37% | −0.05 |
| MS Morgan Stanley | Reduce -8.7% | 0.25% | −0.05 |
| QQQ Invesco QQQ Trust Series 1 | Reduce -7.7% | 0.29% | −0.04 |
| SMG Scotts Miracle-Gro Co. | Sold out | 0.00% | −0.04 |
| IWF iShares Russell 1000 Growth | Reduce -1.1% | 0.32% | −0.04 |
| ESGV Vanguard ESG US Stock ETF | Reduce -0.6% | 0.46% | −0.04 |
| MUFG Mitsubishi Ufj Finl-Spon ADR | Reduce -25.7% | 0.15% | −0.04 |
| EVLV Evolv Technologies Holdings | Reduce -4.5% | 0.19% | −0.04 |
| GBDC Golub Capital BDC Inc. | Reduce -83.4% | 0.01% | −0.03 |
| IUSG iShares Core S&P U.S. Growth | Reduce -1.0% | 0.33% | −0.03 |
| NSC Norfolk Southern Corp. | Reduce -17.0% | 0.14% | −0.03 |
| TOST Toast Inc. Class A | Reduce -1.9% | 0.08% | −0.03 |
| VIG Vanguard Dividend Apprec ETF | Reduce -9.8% | 0.23% | −0.03 |
| VGSH Vanguard Short-Term Treasury | Reduce -28.0% | 0.07% | −0.03 |
| FANG Diamondback Energy Inc. | Reduce -74.1% | 0.01% | −0.03 |
| WMT Walmart Inc. | Reduce -20.3% | 0.22% | −0.03 |
| EFA iShares MSCI Eafe ETF | Reduce -5.5% | 0.57% | −0.03 |
| ARCC Ares Capital Corp. | Reduce -18.1% | 0.07% | −0.03 |
| GOOGL Alphabet Inc. Class A | Reduce -10.2% | 0.12% | −0.03 |
| NOW ServiceNow Inc. | Reduce -10.5% | 0.04% | −0.02 |
| GOOG Alphabet Inc. Class C | Reduce -4.4% | 0.16% | −0.02 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -1.1% | 0.18% | −0.02 |
| MUB iShares National Muni Bond E | Reduce -12.0% | 0.15% | −0.02 |
| DB Deutsche Bank AG-Registered | Reduce -2.1% | 0.07% | −0.02 |
| IQLT iShares MSCI International Q | Reduce -7.3% | 0.35% | −0.02 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Reduce -0.4% | 0.36% | −0.02 |
| OBDC Blue Owl Capital Corp. | Reduce -13.4% | 0.07% | −0.02 |
Portfolio Buys Q4 2025 → Q1 2026
| VGIT Vanguard Intermediate-Term T | Add +15.1% | 12.14% | +1.52 |
| VT Vanguard Tot World STK ETF | Add +67.7% | 1.81% | +0.71 |
| STIP iShares 0-5 Year Tips Bond E | Add +78.3% | 1.06% | +0.47 |
| SPYM Ste STR SPDR PT S&P 500 ETF | Add +18.1% | 2.52% | +0.28 |
| VB Vanguard Most SM-Cap ETF-Usd | Add +75.2% | 0.61% | +0.27 |
| STZ Constellation Brands Inc. Class A | New | 0.19% | +0.19 |
| NYT New York Times Co. Class A | Add +12.0% | 0.70% | +0.18 |
| RIO Rio Tinto PLC-Spon ADR | Add +5925.3% | 0.17% | +0.17 |
| AZN Astrazeneca PLC | Add +445.0% | 0.18% | +0.15 |
| RSP Invesco S&P 500 Equal Weight | Add +11.7% | 1.36% | +0.14 |
| PDBC Invesco Optimum Yield Divers | Add +1.8% | 0.39% | +0.10 |
| VBIL Vanguard 0-3M T-Bill ETF | Add +8.3% | 1.19% | +0.09 |
| TBN Tamboran Resources Corp. | Add +113.8% | 0.11% | +0.08 |
| HIW Highwoods Properties Inc. | Add +164.0% | 0.13% | +0.07 |
| ENB Enbridge Inc. | Add +247.4% | 0.10% | +0.07 |
| VGLT Vanguard Long-Term Treasury | Add +14.4% | 0.60% | +0.07 |
| STUB Stubhub Holdings Inc. Class A | New | 0.05% | +0.05 |
| AGIO Agios Pharmaceuticals Inc. | Add +2.4% | 0.22% | +0.05 |
| BKR Baker Hughes Co. | New | 0.04% | +0.04 |
| IEMG iShares Core MSCI Emerging | Add +4.1% | 0.44% | +0.03 |
| VNQ Vanguard Real Estate ETF | Add +6.3% | 0.45% | +0.03 |
| VWO Vanguard Ftse Emerging Marke | Add +0.8% | 2.06% | +0.03 |
| FLIN Franklin Ftse India ETF | Add +102.0% | 0.06% | +0.02 |
| DKS Dick's Sporting Goods Inc. | Add +7.5% | 0.16% | +0.01 |
| DFAC Dimensional US Core Equity 2 | New | 0.01% | +0.01 |
| SCHD Schwab US DVD Equity ETF | Add +0.0% | 0.08% | +0.01 |
| PNFP Pinnacle Financial Partners | New | 0.01% | +0.01 |
| OTF Blue Owl Technology Finance | Add +76.2% | 0.02% | +0.01 |
| FTNT Fortinet Inc. | Add +128.4% | 0.01% | +0.01 |
| FERG Ferguson Enterprises Inc. | Add +8.5% | 0.06% | +0.01 |
| SGOL Abrdn Physical Gold Shares | Add +73.7% | 0.01% | +0.01 |
| ANNX Annexon Inc. | New | 0.01% | +0.01 |
| DFAX Dimensional World Ex US Core | New | 0.01% | +0.01 |
| SPDW Ste STR SPDR PT DW Eu ETF | Add +0.3% | 0.17% | +0.01 |
| CSX CSX Corp. | New | 0.00% | +0.00 |
| BEP Brookfield Renewable Partner | Add +1.4% | 0.03% | +0.00 |
| USB US Bancorp | Add +81.2% | 0.01% | +0.00 |
| IXC iShares Global Energy ETF | Add +6.5% | 0.01% | +0.00 |
| AMLP Alerian MLP ETF | Add +0.1% | 0.04% | +0.00 |
| IBTG iShares Ibonds Dec 2026 Term | Add +51.1% | 0.01% | +0.00 |
| IBTK iShares Ibonds Dec 2030 Trea | Add +54.0% | 0.01% | +0.00 |
| IBTH iShares Ibonds Dec 2027 Term | Add +15.9% | 0.03% | +0.00 |
| IBTJ iShares Ibonds Dec 2029 Term | Add +15.8% | 0.03% | +0.00 |
| IBTI iShares Ibonds Dec 2028 Term | Add +15.9% | 0.03% | +0.00 |
| AMD Advanced Micro Devices | Add +40.1% | 0.02% | +0.00 |
| SCHE Schwab Emrg Mrkts Eqty ETF | Add +0.9% | 0.26% | +0.00 |
| AVEM Avantis Emerging Markets Eq | New | 0.00% | +0.00 |
| NFLX Netflix Inc. | Add +12.1% | 0.02% | +0.00 |
| DFAT Dimensional US Target Value | New | 0.00% | +0.00 |
| TFPM Triple Flag Precious Met | Add +0.1% | 0.06% | +0.00 |
Notes & Other Activity Q4 2025 → Q1 2026
| BANK OF AMERICA CORP (BAC 7.25 PERP L) | 7.25%CNV PFD L | Reduce -5.3% | 325 | $387K |
| WELLS FARGO & COMPANY (WFC 7.5 PERP L) | PERP PFD CNV A | Reduce -8.3% | 265 | $306K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 483 | $10.6B | VGIT, VTI, IWV, VEA, SPY |
| Q1 2026 | 466 | $9.4B | VGIT, VTI, IWV, VEA, SPY |
| Q4 2025 | 491 | $9.4B | VGIT, VTI, IWV, VEA, SPY |
| Q3 2025 | 509 | $9.2B | VGIT, VTI, IWV, VEA, SPY |
| Q2 2025 | 547 | $9.0B | VTI, IWV, VGIT, VEA, SPY |
| Q1 2025Amended | 511 | $7.9B | VTI, VGIT, IWV, VEA, SPY |
| Q4 2024 | 69 | $4.8B | VTI, VGIT, IWV, VEA, VGSH |
| Q3 2024 | 68 | $5.0B | IWV, VGIT, VTI, VEA, SCHB |
| Q2 2024 | 67 | $4.8B | IWV, VTI, VGIT, VEA, SCHB |
| Q1 2024Amended | 71 | $4.7B | IWV, VGIT, VTI, VEA, SCHB |