Abstract Doppler and Raman lidar observations of vertical velocity and water vapor mixing ratio are used to probe the physics and statistics of subcloud and cloud-base latent heat fluxes during cumulus convection at the ARM Southern Great Plains (SGP) site in Oklahoma, United States. The statistical results show that latent heat fluxes increase with height from the surface up to ~0.8Zi (where Zi is the convective boundary layer depth) and then decrease to ~0 at Zi. Peak fluxes aloft exceeding 500 W m−2 are associated with periods of increased cumulus cloud cover and stronger jumps in the mean humidity profile. These entrainment fluxes are much larger than the surface fluxes, indicating substantial drying over the 0–0.8Zi layer accompanied by moistening aloft as the CBL deepens over the diurnal cycle. We also show that the boundary layer humidity budget is approximately closed by computing the flux divergence across the 0–0.8Zi layer. Composite subcloud velocity and water vapor anomalies show that clouds are linked to coherent updraft and moisture plumes. The moisture anomaly is Gaussian, most pronounced above 0.8Zi and systematically wider than the velocity anomaly, which has a narrow central updraft flanked by downdrafts. This size and shape disparity results in downdrafts characterized by a high water vapor mixing ratio and thus a broad joint probability density function (JPDF) of velocity and mixing ratio in the upper CBL. We also show that cloud-base latent heat fluxes can be both positive and negative and that the instantaneous positive fluxes can be very large (~10 000 W m−2). However, since cloud fraction tends to be small, the net impact of these fluxes remains modest.