SCS Capital Management LLC

Key Holdings

The portfolio is dominated by large-cap, passive investment vehicles designed to track major indices. The top ten positions are exclusively ETFs, representing nearly 55% of the total portfolio value.

• VGIT (Vanguard Intermediate-Term Treasury ETF): This is the largest holding, comprising 9.76% of the portfolio ($895.6M). A significant increase of 41.5% during the quarter indicates a defensive rotation toward fixed income and interest rate safety.
• VTI (Vanguard Total Stock Market ETF): The second largest holding at 9.18% ($842.08M), providing broad exposure to the entire U.S. equity market.
• IWV (iShares Russell 3000 ETF): Holding 7.71% ($707.26M), this further reinforces the strategy of tracking the total U.S. market.
• International Exposure: VEA (Vanguard FTSE Developed Markets) and VWO (Vanguard Emerging Markets Stock Index) hold significant positions at 6.40% and 2.16%, respectively, ensuring global diversification.