{"url":"https://nivawealth.com/firms/nepc-110562","iapdUrl":"https://adviserinfo.sec.gov/firm/summary/110562","regulatoryAum":152723794951,"crd":"110562","secFileNumber":"801-37227","legalName":"Nepc, LLC","displayName":"Nepc","website":"http://www.nepc.com","linkedinUrl":"https://www.linkedin.com/company/nepc/","founded":null,"organization":"Delaware limited liability company","fiscalYearEnd":"December","headquarters":{"street":"225 Franklin Street, 29th Floor","city":"Boston","state":"MA","stateName":"Massachusetts","country":"United States","postalCode":"02110"},"tradeNames":[],"registration":{"secApproved":"23 August 1990","noticeFilings":null,"latestNoticeFiling":null},"staff":{"employees":379,"advisory":132,"brokerDealerReps":0,"insuranceAgents":0,"promoters":1},"aum":{"discretionary":152723794951,"discretionaryAccounts":132,"nonDiscretionary":0,"nonDiscretionaryAccounts":0,"wrapProgram":null,"nonUsClientsPct":2,"nonAumClients":303},"clientTypes":[{"label":"High-net-worth 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MA","smaAssets":30371985679},{"name":"US Bank","shortName":"US Bank","location":"Minneapolis, MN","smaAssets":17417918357}],"custodyNote":"Nepc does not have custody of client assets.","otherCustodians":[],"leadership":[{"name":"Michael Manning","title":"Chief Executive Officer, Chief Financial Officer","crd":"2138898"},{"name":"Timothy McCusker","title":"President","crd":"7404699"},{"name":"Kellie Kane","title":"Chief Operating Officer","crd":"5902423"},{"name":"John Regan","title":"Chief Compliance Officer","crd":"6109722"},{"name":"Steven Charlton","title":"Head of Client Solutions","crd":"2183785"},{"name":"Kathy Connors","title":"Chief Consulting Officer","crd":"4393367"},{"name":"Judy Murphy","title":"Chief Human Resources Officer","crd":"2099890"},{"name":"Sarah Samuels","title":"Chief Investment Officer","crd":"5825891"}],"ownership":[{"label":"Nepc Partners, LLC","detail":"Member in the 10% to 25% ownership band, since January 2025."},{"label":"Hightower Holding, LLC","detail":"Member in the 75% or more ownership band and a control person, since January 2025."},{"label":"Hightower Intermediate, LLC","detail":"Indirect owner: a member of Hightower Holding, LLC in the 75% or more band and a control person, since October 2020.","parent":"Hightower Holding, LLC"},{"label":"HT Holding, LLC","detail":"Indirect owner: a member of Hightower Intermediate, LLC in the 75% or more band and a control person, since October 2020.","parent":"Hightower Intermediate, LLC"},{"label":"THL HT SPV, L.P.","detail":"Indirect owner: a member of THL Equity Fund VII Investors (HT), LLC in the 25% to 50% band and a control person, since December 2020.","parent":"THL Equity Fund VII Investors (HT), LLC"},{"label":"THL Equity Fund VII Investors (HT), LLC","detail":"Indirect owner: a member of HT Holding, LLC in the 50% to 75% band and a control person, since October 2020.","parent":"HT Holding, LLC"},{"label":"THL Equity Fund VII Investors (HT) Blocker, LLC","detail":"Indirect owner: a member of THL Equity Fund VII Investors (HT), LLC in the 25% to 50% band and a control person, since October 2020.","parent":"THL Equity Fund VII Investors (HT), LLC"},{"label":"THL HT Parallel SPV, L.P.","detail":"Indirect owner: a member of THL Equity Fund VII Investors (HT) Blocker, LLC in the 25% to 50% band and a control person, since December 2020.","parent":"THL Equity Fund VII Investors (HT) Blocker, LLC"}],"branchOffices":null,"filedOffices":{"otherThanPrincipal":25,"privateResidences":20},"listedOfficeAddresses":6,"officesByState":[{"state":"California","offices":1,"addresses":[{"street":"50 California Street","city":"San Francisco"}]},{"state":"Georgia","offices":1,"addresses":[{"street":"400 Galleria Parkway","city":"Atlanta"}]},{"state":"Illinois","offices":1,"addresses":[{"street":"30 South Wacker Drive","city":"Chicago"}]},{"state":"Massachusetts","offices":1,"addresses":[{"street":"225 Franklin Street, 29th 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equity securities","percent":3},{"label":"U.S. government/agency bonds","percent":1},{"label":"Investment grade corporate bonds","percent":3},{"label":"Non-investment grade corporate bonds","percent":1},{"label":"Securities issued by registered investment companies or business development companies","percent":7},{"label":"Securities issued by pooled investment vehicles (other than registered investment companies)","percent":82},{"label":"Cash and cash equivalents","percent":2},{"label":"Other","percent":1,"detail":"Other Includes Multi-Asset, Liquid Real Asset Smas and Client Owned Real Estate."}],"privateFunds":4},"sources":{"adv1FilingDate":"22 September 2026","adv1Url":"https://reports.adviserinfo.sec.gov/reports/ADV/110562/PDF/110562.pdf","brochureDate":null,"brochureUrl":null,"iapdCompiledDate":null,"retrievedDate":"15 October 2026","retrievedOn":"2026-10-15","adv1Pages":{},"brochurePages":{}},"otherBusiness":[],"faq":[{"question":"How many clients does Nepc have?","answer":"Nepc has 435 clients and manages $152.7 billion for them, as of September 2026. They include 165 pension and profit-sharing plans, 84 charitable organizations and 73 state or municipal government entities.","source":"Form ADV Part 1A, Items 5.D and 5.F, filed 22 September 2026","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What services does Nepc offer?","answer":"Nepc provides portfolio management for individuals and small businesses, portfolio management for pooled vehicles, portfolio management for institutions, pension consulting, selecting other managers and educational seminars.","source":"Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Which custodians does Nepc use?","answer":"Nepc’s separately managed account assets are held at Northern Trust Corporation (Chicago, IL), with $47,481,873,726, The Bank of New York Mellon (Pittsburgh, PA), with $30,929,873,746, Fidelity (Boston, MA), with $30,371,985,679 and US Bank (Minneapolis, MN), with $17,417,918,357. Only custodians holding at least a tenth of those assets are named.","source":"Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 22 September 2026","sourceRef":{"doc":"adv1","section":"custodians"}},{"question":"How many financial advisors does Nepc have?","answer":"Nepc has 1 investment adviser representatives registered with state securities authorities, out of 379 employees, and 132 perform investment advisory functions. None are registered representatives of a broker-dealer or licensed insurance agents.","source":"Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"What does Nepc invest in?","answer":"At the end of its last fiscal year, Nepc’s separately managed accounts held 82% pooled vehicles (private funds and similar), 7% registered funds (mutual funds, ETFs, BDCs), 3% exchange-traded equities, 3% investment grade corporate bonds, 2% cash and equivalents, 1% U.S. government and agency bonds, 1% high-yield corporate bonds and 1% other includes multi-asset, liquid real asset smas and client owned real estate.. It advises 4 private funds.","source":"Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}},{"question":"Who owns Nepc?","answer":"Nepc is owned through a chain of holding companies by THL HT SPV, L.P. and THL HT Parallel SPV, L.P. Its direct owners are Nepc Partners, LLC (10% to 25%) and Hightower Holding, LLC (75% or more).","source":"Form ADV Part 1A, Schedules A and B, filed 22 September 2026","sourceRef":{"doc":"adv1","section":"scheduleA"}},{"question":"How does Nepc get paid?","answer":"Nepc is paid through a percentage of assets under management, hourly charges, fixed fees and performance-based fees. Its Form ADV lists no commissions among how it is paid.","source":"Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file","sourceRef":{"doc":"adv1","section":"employees"}}],"holdings":{"url":"https://nivawealth.com/firms/nepc-110562/holdings","form":"13F-HR","periodOfReport":"2026-06-30","filedOn":"2026-08-14","filingIndexUrl":"https://www.sec.gov/Archives/edgar/data/1424799/000092963826003046/0000929638-26-003046-index.html","totalValue":5358884459,"positionCount":53,"top10Share":0.7508012620504979,"top10":[{"issuer":"VANGUARD INDEX FDS","titleOfClass":"S&P 500 ETF SHS","cusip":"922908363","value":646902905,"shares":941895,"shareType":"SH","priorValue":584495923,"priorShares":978154},{"issuer":"VANGUARD SCOTTSDALE FDS","titleOfClass":"INT-TERM CORP","cusip":"92206C870","value":613189442,"shares":7419110,"shareType":"SH","priorValue":528836300,"priorShares":6390771},{"issuer":"VANGUARD SCOTTSDALE FDS","titleOfClass":"INTER TERM 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Facts as filed; not a rating, ranking, or recommendation. Niva Wealth is not affiliated with this firm. Disciplinary history is deliberately not included here or on the page; the SEC publishes the complete record at the `iapdUrl` above."}