Angeles Investment Advisors, LLC

Registered adviser

CIK

1535695

Location

SANTA MONICA, CA

Portfolio Value

Mid $1,631,419,038

Diversification

Highly concentrated

Filing Date

Global Rank

#1,816 / 8,827 ▼ 27 · as of Jun 2026

Top Industry

Engineering & Construction 42.3%

Period ended 37 days ago

Filed Oct 22, 2026 · 15d

27 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 110213

Roster of Nov 1, 2026

Regulatory AUM

$7,272,416,549

Main clients

Pooled investment vehicles (58% of AUM)

Private funds

17 funds · Private equity funds

Focus by fund count, roster of Nov 1, 2026

$3,985,674,963 gross assets

Private funds on Schedule D 7.B.(1)

As filed Jul 1, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$3,573,682,915 gross assets in 15 funds Other private funds $2,639,300,016 (5) Private equity funds $727,603,531 (8) Hedge funds $206,779,368 (2)

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	$7,272,416,549	Pooled investment vehicles (58%)
Apr 2025 to Mar 2026	$7,070,089,641	Pooled investment vehicles (59%)
Apr 2024 to Mar 2025	$6,415,145,168	Pooled investment vehicles (68%)
May 2023 to Mar 2024	$6,205,814,983	Pooled investment vehicles (55%)
Apr 2023	$6,205,814,983	Pooled investment vehicles (55%)
Apr 2022 to Mar 2023	$8,702,320,852	Diversified

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, the newest measured quarter, never from the firm's own description.

Style

Concentrated

The top 10 positions are 98.6% of the book (60%+)

Turnover

Medium turnover

44.2% over the last four quarters (30% to under 100%)

Horizon

Long horizon

Value-weighted holding period 21.1 quarters (12+), a floor since 71.9% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 93.2%; sector active share 85.6% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

38 tracked positions · as of Sep 30, 2026 · Δ vs Jun 30, 2026

Top Position

51.3%

−4.5 pts

Top 5

82.3%

−6.5 pts

Top 10

96.5%

−2.1 pts

HHI

2,988

Highly concentrated−485

Portfolio Trend

27 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2026

Sector	% Portfolio	Value	Positions
Unclassified	98.9%	$1,613,969,612	34
Industrials	0.5%	$7,385,191	1
Basic Materials	0.3%	$5,118,134	1
Utilities	0.3%	$4,549,975	1
Consumer Defensive	0.0%	$396,126	1

Last Quarter's Activity

Export CSV

Sep 30, 2026 vs Jun 30, 2026

Added To

Positions the filer increased

11 positions

Ticker	Company	Δ Shares	Shares	Value
VPL	VANGUARD PACIFIC STOCK INDEX FUND	+302,100	302,785	$35,065,530
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	+37,059	129,140	$7,659,293
VT	VANGUARD TOTAL WORLD STOCK INDEX FUND	+36,265	141,320	$22,307,362
VUG	VANGUARD GROWTH INDEX FUND	+34,836	104,373	$9,405,051
VEA	Vanguard FTSE Developed Markets ETF	+29,433	33,918	$2,394,949
ESGV	VANGUARD ESG U.S. STOCK ETF	+18,016	248,852	$33,726,911
VXUS	Vanguard Total International Stock ETF	+14,893	2,805,090	$238,320,446
VSGX	VANGUARD ESG INTERNATIONAL STOCK ETF	+6,492	241,082	$19,544,517
VTV	VANGUARD VALUE INDEX FUND	+5,986	20,559	$4,442,388
VTG	VANGUARD TOTAL TREASURY ETF	+449	46,063	$3,327,591
VGVT	VANGUARD GOVERNMENT SECURITIES ACTIVE ETF	+21	6,479	$466,637
No positions match the current search.

Trimmed

Positions the filer reduced

8 positions

Ticker	Company	Δ Shares	Shares	Value
IEMG	iShares Trust	−382,080	175,075	$0
MGK	VANGUARD MEGA CAP GROWTH INDEX FUND	−356,703	14,487	$1,342,220
IWM	iShares Russell 2000 ETF	−273,219	6,862	$1,906,881
VMBS	VANGUARD MORTGAGE-BACKED SECURITIES INDEX FUND	−260,595	950,270	$42,201,490
VOO	VANGUARD 500 INDEX FUND	−165,421	1,174,228	$822,969,436
VOTE	TCW Transform 500 ETF	−71,958	817,456	$73,618,452
DFSI	Dimensional International Sustainability Core 1 ETF	−657	97,322	$4,396,034
ACWI	iShares MSCI ACWI ETF	−75	13,461	$2,137,202
No positions match the current search.

New Positions

Positions the filer opened this quarter

8 positions

Ticker	Company	Shares	Value
VCSH	VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND	1,009,010	$77,946,022
VUSB	VANGUARD ULTRA-SHORT BOND ETF	1,499,700	$74,310,135
EFV	iShares MSCI EAFE Value ETF	454,025	$35,931,538
XLE	State Street(R) Energy Select Sector SPDR(R) ETF	389,000	$23,923,500
AVDV	Avantis International Small Cap Value ETF	132,800	$14,525,664
EWJ	iShares MSCI Japan ETF	141,210	$13,762,326
VGK	VANGUARD EUROPEAN STOCK INDEX FUND	20,770	$1,802,836
—		486,820	$0
No positions match the current search.

Sold Out

Positions the filer fully exited

1 positions

Ticker	Company	Shares	Value	Open
—		602,320	$45,324,580
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

38 tracked positions · $1,631,419,038 total · filing declares 38 positions · $1,657,434,071 · as of Sep 30, 2026

All sectors Basic Materials Consumer Defensive Industrials Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
VOO	VANGUARD 500 INDEX FUND	Reduced	1,174,228	-165,421	$822,969,436	−10.6%	50.45%
VXUS	Vanguard Total International Stock ETF	Added	2,805,090	+14,893	$238,320,446	−0.1%	14.61%
VCSH	VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND	NEW	1,009,010	NEW	$77,946,022	NEW	4.78%
VUSB	VANGUARD ULTRA-SHORT BOND ETF	NEW	1,499,700	NEW	$74,310,135	NEW	4.55%
VOTE	TCW Transform 500 ETF	Reduced	817,456	-71,958	$73,618,452	−6.1%	4.51%
VMBS	VANGUARD MORTGAGE-BACKED SECURITIES INDEX FUND	Reduced	950,270	-260,595	$42,201,490	−25.5%	2.59%
EFV	iShares MSCI EAFE Value ETF	NEW	454,025	NEW	$35,931,538	NEW	2.20%
VPL	VANGUARD PACIFIC STOCK INDEX FUND	Added	302,785	+302,100	$35,065,530	+44148.4%	2.15%
ESGV	VANGUARD ESG U.S. STOCK ETF	Added	248,852	+18,016	$33,726,911	+10.5%	2.07%
XLE	State Street(R) Energy Select Sector SPDR(R) ETF	NEW	389,000	NEW	$23,923,500	NEW	1.47%
VT	VANGUARD TOTAL WORLD STOCK INDEX FUND	Added	141,320	+36,265	$22,307,362	+35.3%	1.37%
VSGX	VANGUARD ESG INTERNATIONAL STOCK ETF	Added	241,082	+6,492	$19,544,517	+1.2%	1.20%
VYM	VANGUARD HIGH DIVIDEND YIELD INDEX FUND	Held	124,515	0	$19,324,728	−1.8%	1.18%
AVDV	Avantis International Small Cap Value ETF	NEW	132,800	NEW	$14,525,664	NEW	0.89%
EWJ	iShares MSCI Japan ETF	NEW	141,210	NEW	$13,762,326	NEW	0.84%
VYMI	VANGUARD INTERNATIONAL HIGH DIVIDEND YIELD INDEX FUND	Held	93,500	0	$9,455,655	+3.0%	0.58%
VUG	VANGUARD GROWTH INDEX FUND	Added	104,373	+34,836	$9,405,051	+57.0%	0.58%
IDV	iShares International Select Dividend ETF	Held	187,685	0	$7,918,430	+1.8%	0.49%
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	Added	129,140	+37,059	$7,659,293	+39.4%	0.47%
EFA	iShares MSCI EAFE ETF	Held	72,735	0	$7,556,439	+0.0%	0.46%
ECG	Everus Construction Group, Inc. Industrials	Held	62,842	0	$7,385,191	−29.2%	0.45%
KNF	Knife River Corp Basic Materials	Held	101,510	0	$5,118,134	−39.7%	0.31%
MDU	Mdu Resources Group Inc Utilities	Held	245,414	0	$4,549,975	−12.6%	0.28%
VTV	VANGUARD VALUE INDEX FUND	Added	20,559	+5,986	$4,442,388	+39.9%	0.27%
DFSI	Dimensional International Sustainability Core 1 ETF	Reduced	97,322	-657	$4,396,034	−0.5%	0.27%
VTG	VANGUARD TOTAL TREASURY ETF	Added	46,063	+449	$3,327,591	−3.1%	0.20%
VEA	Vanguard FTSE Developed Markets ETF	Added	33,918	+29,433	$2,394,949	+649.5%	0.15%
EFG	iShares MSCI EAFE Growth ETF	Held	18,315	0	$2,194,686	−3.7%	0.13%
ACWI	iShares MSCI ACWI ETF	Reduced	13,461	-75	$2,137,202	+0.6%	0.13%
IWM	iShares Russell 2000 ETF	Reduced	6,862	-273,219	$1,906,881	−97.7%	0.12%
VGK	VANGUARD EUROPEAN STOCK INDEX FUND	NEW	20,770	NEW	$1,802,836	NEW	0.11%
MGK	VANGUARD MEGA CAP GROWTH INDEX FUND	Reduced	14,487	-356,703	$1,342,220	−95.9%	0.08%
VGVT	VANGUARD GOVERNMENT SECURITIES ACTIVE ETF	Added	6,479	+21	$466,637	−4.0%	0.03%
PEP	Pepsico Inc Consumer Defensive	Held	3,126	0	$396,126	−6.4%	0.02%
MUB	iShares National Muni Bond ETF	Held	785	0	$79,363	−6.1%	0.00%
PFF	iShares Preferred and Income Securities ETF	Held	200	0	$5,900	−3.2%	0.00%
		NEW	486,820	NEW	$0	NEW	0.00%
IEMG	iShares Trust	Reduced	175,075	-382,080	$0	−100.0%	0.00%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.