PARTNERS CAPITAL INVESTMENT GROUP, LLP

Fund of Funds

PARTNERS CAPITAL INVESTMENT GROUP, LLP is a Fund of Funds based in Boston, MA led by Arjun Raju Raghavan, reporting $41.5B in AUM as of Q3 2025 with 91% ETF concentration, 60% concentrated in top 10 holdings, 21% allocation to IVV, and minimal technology exposure.

CEOArjun Raju Raghavan

Portfolio Value: $2.5B
Positions: 155
Top Holding: IVV at 20.63%
Last Reported: Q3 2025

Address600 Atlantic Ave, 30th Floor, Boston, MA, 02210, United States

Top Holdings

Largest long holdings in PARTNERS CAPITAL INVESTMENT GROUP, LLP's portfolio (59.8% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 iShares Core S&P 500 ETF IVV	ETF ETF	$514.9M	20.63%	-$30.6M Sold	— 769.3K shares	Q4 2017 Held for 7y 11m
2 Vanguard Short-Term Treasury VGSH	ETF ETF	$145.4M	5.83%	-$8.7M Sold	— 2.5M shares	Q2 2018 Held for 7y 5m
3 iShares Core MSCI Emerging Markets IEMG	ETF ETF	$137.6M	5.51%	-$12.6M Sold	— 2.1M shares	Q4 2017 Held for 7y 11m
4 iShares Currency Hedged MSCI EAFE HEFA	ETF ETF	$132.1M	5.29%	+$5.7M Bought	— 3.3M shares	Q4 2017 Held for 7y 11m
5 Vanguard S&P 500 ETF VOO	ETF ETF	$121.2M	4.86%	-$2.9M Sold	— 198.0K shares	Q1 2020 Held for 5y 8m
6 Vanguard Value VTV	ETF ETF	$114.9M	4.61%	-$8.7M Sold	— 616.3K shares	Q4 2017 Held for 7y 11m
7 iShares 0-5 Year TIPS Bond STIP	ETF ETF	$95.5M	3.83%	+$11.1M Bought	— 923.7K shares	Q2 2022 Held for 3y 5m
8 Vanguard Total World Stock VT	ETF ETF	$80.8M	3.24%	-$8.1M Sold	— 586.4K shares	Q4 2017 Held for 7y 11m
9 iShares Core S&P Total U.S. Stock Market ITOT	ETF ETF	$76.7M	3.07%	-$8.1M Sold	— 526.6K shares	Q1 2021 Held for 4y 8m
10 iShares MSCI Emerging Markets ex China EMXC	ETF ETF	$73.0M	2.93%	-$24.9M Sold	— 1.1M shares	Q4 2022 Held for 2y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in PARTNERS CAPITAL INVESTMENT GROUP, LLP's latest filing

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Market Value

$2.5B

Prior: $2.5B

Q/Q Change

+0.748%

+$18.5M

Net Flows % of MV

-5.61%

Turnover Ratio

5.6%

New Purchases

5 stocks

$6.6M

Added To

45 stocks

+$56.2M

Sold Out Of

9 stocks

$32.5M

Reduced Holdings

32 stocks

-$170.4M

Increased Positions

Position	Shares Δ	Change
1 United Rentals URI	New	0 → 5.0K +$4.8M
2 Iris Energy IREN	New	0 → 16.0K +$750.9K
3 Xcel Energy XEL	New	0 → 5.2K +$420.3K
4 CenterPoint Energy CNP	New	0 → 10.1K +$392.3K
5 Palantir Technologies Inc. PLTR	New	0 → 1.3K +$228.8K

Decreased Positions

Position	Shares Δ	Change
1 Vornado Realty VNO	Sold	203.6K → 0 −$7.8M
2 SL Green Realty SLG	Sold	101.6K → 0 −$6.3M
3 Murphy USA MUSA	Sold	12.6K → 0 −$5.1M
4 Expedia Group, Inc. EXPE	Sold	23.3K → 0 −$3.9M
5 U.S. Bancorp USB	Sold	82.3K → 0 −$3.7M