# Windham Capital Management, LLC

> Institutional holdings reported to the SEC as of Q2 2024 on Form 13F. CIK 1512415. Source: https://holderbook.com/funds/1512415-windham-capital-management-llc/

- Reported value: $127.7M
- Positions: 44
- Weight of the ten largest: 69.7%
- Filed: 2024-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $37.3M | 139,496 | 29.2% | 23 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $10.7M | 66,581 | 8.4% | 23 |
| VANGUARD INDEX FDS | [VUG](https://holderbook.com/stocks/VUG/) | $9.1M | 23,775 | 7.1% | 20 |
| ISHARES TR | [SUB](https://holderbook.com/stocks/SUB/) | $8.7M | 83,624 | 6.8% | 23 |
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $5.4M | 9,900 | 4.2% | 16 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $3.9M | 19,366 | 3.1% | 8 |
| ISHARES TR | [TIP](https://holderbook.com/stocks/TIP/) | $3.8M | 35,720 | 3.0% | 13 |
| GOLDMAN SACHS ETF TR | [GBIL](https://holderbook.com/stocks/GBIL/) | $3.7M | 36,843 | 2.9% | 6 |
| DBX ETF TR | [HYLB](https://holderbook.com/stocks/HYLB/) | $3.4M | 96,514 | 2.7% | 14 |
| VANGUARD INTL EQUITY INDEX F | [VGK](https://holderbook.com/stocks/VGK/) | $2.9M | 43,145 | 2.3% | 23 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $2.7M | 54,223 | 2.1% | 23 |
| VANGUARD INTL EQUITY INDEX F | [VNQI](https://holderbook.com/stocks/VNQI/) | $2.5M | 62,152 | 2.0% | 6 |
| ISHARES TR | [ICVT](https://holderbook.com/stocks/ICVT/) | $2.5M | 31,799 | 2.0% | 6 |
| SPDR SERIES TRUST | [WIP](https://holderbook.com/stocks/WIP/) | $2.4M | 61,532 | 1.9% | 8 |
| INVESCO EXCH TRADED FD TR II | [PCY](https://holderbook.com/stocks/PCY/) | $2.2M | 110,997 | 1.7% | 14 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $2.1M | 41,640 | 1.6% | 6 |
| ISHARES TR | [ESGU](https://holderbook.com/stocks/ESGU/) | $2.0M | 16,392 | 1.5% | 6 |
| SELECT SECTOR SPDR TR | [XLK](https://holderbook.com/stocks/XLK/) | $1.9M | 8,577 | 1.5% | 8 |
| VANGUARD INDEX FDS | [VO](https://holderbook.com/stocks/VO/) | $1.9M | 7,994 | 1.5% | 23 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $1.8M | 8,123 | 1.4% | 23 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $1.5M | 16,449 | 1.2% | 7 |
| SELECT SECTOR SPDR TR | [XLV](https://holderbook.com/stocks/XLV/) | $1.4M | 9,337 | 1.1% | 11 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $1.3M | 29,512 | 1.0% | 23 |
| ISHARES TR | [ESGD](https://holderbook.com/stocks/ESGD/) | $1.3M | 16,007 | 1.0% | 6 |
| J P MORGAN EXCHANGE TRADED F | [BBEU](https://holderbook.com/stocks/BBEU/) | $1.1M | 19,025 | 0.9% | 6 |
| ISHARES INC | [EUHY](https://holderbook.com/stocks/EUHY/) | $1.1M | 22,048 | 0.8% | 8 |
| SPDR SERIES TRUST | [SPSB](https://holderbook.com/stocks/SPSB/) | $1.0M | 34,953 | 0.8% | 23 |
| ISHARES TR | [SCZ](https://holderbook.com/stocks/SCZ/) | $976.9K | 15,849 | 0.8% | 6 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $702.2K | 6,973 | 0.5% | 2 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $624.4K | 1,397 | 0.5% | 22 |
| VANGUARD WORLD FD | [VHT](https://holderbook.com/stocks/VHT/) | $616.6K | 2,318 | 0.5% | 22 |
| ISHARES TR | [PFF](https://holderbook.com/stocks/PFF/) | $591.7K | 18,754 | 0.5% | 6 |
| SELECT SECTOR SPDR TR | [XLB](https://holderbook.com/stocks/XLB/) | $556.9K | 6,306 | 0.4% | 12 |
| VANGUARD INTL EQUITY INDEX F | [VSS](https://holderbook.com/stocks/VSS/) | $499.6K | 4,252 | 0.4% | 23 |
| VANGUARD WORLD FD | [VGT](https://holderbook.com/stocks/VGT/) | $449.2K | 779 | 0.4% | 2 |
| SPDR SERIES TRUST | [FLRN](https://holderbook.com/stocks/FLRN/) | $421.2K | 13,652 | 0.3% | 16 |
| ISHARES TR | [MUB](https://holderbook.com/stocks/MUB/) | $420.9K | 3,950 | 0.3% | 23 |
| VANGUARD MALVERN FDS | [VTIP](https://holderbook.com/stocks/VTIP/) | $417.3K | 8,598 | 0.3% | 23 |
| SPDR SERIES TRUST | [CWB](https://holderbook.com/stocks/CWB/) | $395.8K | 5,493 | 0.3% | 12 |
| SPDR SERIES TRUST | [BWZ](https://holderbook.com/stocks/BWZ/) | $392.7K | 15,317 | 0.3% | 23 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $279.3K | 1,326 | 0.2% | 6 |
| VANGUARD WORLD FD | [VIS](https://holderbook.com/stocks/VIS/) | $275.9K | 1,173 | 0.2% | 2 |
| VANGUARD WORLD FD | [VDC](https://holderbook.com/stocks/VDC/) | $256.0K | 1,261 | 0.2% | 22 |
| FIDELITY TOTAL MARKET INDEX FU | - | $219.5K | 1,469 | 0.2% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2024 | +1.0% | +4.0% | -3.0% | 100% |
| Q1 2024 | +5.4% | +10.0% | -4.6% | 100% |
| Q4 2023 | +8.4% | +11.2% | -2.8% | 100% |
| Q3 2023 | -3.6% | -3.6% | -0.0% | 100% |
| Q2 2023 | +3.5% | +8.3% | -4.8% | 100% |
| Q1 2023 | +4.2% | +7.0% | -2.9% | 100% |
| Q4 2022 | +5.8% | +7.1% | -1.2% | 100% |
| Q3 2022 | -5.4% | -5.3% | -0.1% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2024 | $127.7M | 44 |
| Q1 2024 | $127.1M | 44 |
| Q4 2023 | $271.6M | 84 |
| Q3 2023 | $248.5M | 86 |
| Q2 2023 | $259.8M | 85 |
| Q1 2023 | $251.4M | 86 |
| Q4 2022 | $260.4M | 75 |
| Q3 2022 | $264.5M | 76 |
| Q2 2022 | $425.8M | 79 |
| Q1 2022 | $470.3M | 80 |
| Q4 2021 | $487.3M | 79 |
| Q3 2021 | $478.6M | 80 |