10Elms LLP Q3 2025 Filing

Filed November 12, 2025

Portfolio Value

$111.2B

Holdings

498

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (498 positions)

#StockSharesValue% PortfolioType
201
TX HOUSCD 4 02/15/2038HOUSTON TEX INDPT S 4 38GO LTX DUE 02/15/38
50,000$50.0M0.05%
202
TX HARMED 4 02/15/2034HARRIS CNTY TEX HOS 4 34DIST HLTH DUE 02/15/34
50,000$50.0M0.04%
203
TX GRASCD 3.12 02/15/2030GRAND PRAIRIE T 3 125 30GO LTX DUE 02/15/30OID
50,000$50.0M0.04%
204
BNS 4.5 12/16/25THE BANK OF NOVA4 5 25F DUE 12/16/25
50,000$50.0M0.04%
205
OK OKSDEV 4.85 02/01/2045OKLAHOMA DEV FI 4 851 45COMB IDR DUE 02/01/45TAXBL
50,000$49.8M0.04%
206
TX KEL 2 02/15/2026KELLER TEX 2 26GO LTX DUE 02/15/26
50,000$49.8M0.04%
207
CBOE 3.65 01/12/27CBOE GLOBAL MARK 3 65 27 DUE 01/12/27
50,000$49.7M0.04%
208
ALL 0.75 12/15/25THE ALLSTATE COR 0 75 25 DUE 12/15/25
50,000$49.6M0.04%
209
TX RKTWTR 3.1 07/10/2030ROCKETT TEX SPL U 3 1 30WTR UTIL DUE 07/10/30ASSURED GUARANTY MUN
50,000$49.5M0.04%
210
TX KRV 3.38 08/15/2032KERRVILLE TEX 3 375 32DB LTX DUE 08/15/32
50,000$49.5M0.04%
211
BPLN 3.723 11/28/28BP CAPITAL MAR3 723 28F DUE 11/28/28
50,000$49.5M0.04%
212
BHI 3.337 12/15/27BAKER HUGHES HO 3 337 27 DUE 12/15/27
50,000$49.3M0.04%
213
TX LUBSCD 2 02/15/2027LUBBOCK COOPER TEX 2 27GO UTX DUE 02/15/27
50,000$49.3M0.04%
214
TX LBT 2 03/01/2027LIBERTY TEX 2 27GO LTX DUE 03/01/27
50,000$49.0M0.04%
215
TD 1.95 01/12/27 FXDTHE TORONTO-DOM1 95 27F DUE 01/12/27
50,000$48.7M0.04%
216
KS JOHWTR 2.25 07/01/2029JOHNSON CNTY KAN 2 25 29WTR UTIL DUE 07/01/29OID
50,000$48.4M0.04%
217
C 3 12/31/27 MTNCITIGROUP INC 3 27 DUE 12/31/27
50,000$47.8M0.04%
218
CARRCARRIER GLOBAL CORP
800$47.8M0.04%
219
TX BGNUTL 3 05/01/2033BRIDGESTONE MUN UTI 3 33DB UTX DUE 05/01/33OID
50,000$47.5M0.04%
220
GE 4 06/15/32 NOT2GENERAL ELECTRIC CO 4 32 DUE 06/15/32
50,000$47.3M0.04%
221
OK MIDDEV 4.25 02/01/2038MIDWEST CITY OKL 4 25 38RTL IDR DUE 02/01/38XTRO TAXBL
50,000$46.9M0.04%
222
SPG 2.45 09/13/29SIMON PROPERTY G 2 45 29 DUE 09/13/29
50,000$46.9M0.04%
223
PSJHOG 2.532 10/01/29 19APROVIDENCE ST 2 532 29 DUE 10/01/29
50,000$46.7M0.04%
224
OK TULMED 4 02/01/2029TULSA CNTY OKLA IND 4 29FAC BLDG DUE 02/01/29XTRO
45,000$46.6M0.04%
225
SUBISHARES SHORT TERM NTNL MUN BND ETF
435$46.4M0.04%
226
NC NCSHSG 1.45 01/01/2030NORTH CAROLINA H 1 45 30SING HSG DUE 01/01/30XTRO
50,000$46.4M0.04%
227
NC JOH 1.5 02/01/2030JOHNSTON CNTY N C 1 5 30GO UTX DUE 02/01/30
50,000$46.1M0.04%
228
LHX 5.4 01/15/27L3HARRIS TECHNOLO 5 4 27 DUE 01/15/27
45,000$45.7M0.04%
229
TX FORUTL 2.75 09/01/2035FORT BEND CNTY T 2 75 35GO UTX DUE 09/01/35OID
50,000$45.3M0.04%
230
GS 2 08/30/29 MTN1THE GOLDMAN SACHS G 2 29 DUE 08/30/29
50,000$45.2M0.04%
231
CVS 5 02/20/26CVS HEALTH CORP 5 26 DUE 02/20/26
45,000$45.1M0.04%
232
TX SNJWTR 4.5 10/01/2027SAN JACINTO TEX R 4 5 27WTR UTIL DUE 10/01/27OID ASSURED GUARANTY MUN
45,000$45.1M0.04%
233
TX DALUTL 3.12 10/01/2032DALLAS TEX WTRW 3 125 32WRSR UTIL DUE 10/01/32OID
45,000$45.0M0.04%
234
FL FLSHSG 2 07/01/2032FLORIDA HSG FIN COR 2 32SING HSG DUE 07/01/32XTRO
50,000$44.9M0.04%
235
NC GREOBL 1.67 11/01/2031GREENSBORO N C 1 671 31PKG BLDG DUE 11/01/31TAXBL
50,000$43.3M0.04%
236
TX BCRUTL 2.25 06/01/2033BRUSHY CREEK MUN 2 25 33GO UTX DUE 06/01/33OID
50,000$43.2M0.04%
237
RTXRTX CORP
251$42.0M0.04%
238
TX LKSWTR 2 09/01/2033LAKES FRESH WTR SUP 2 33GO UTX DUE 09/01/33
50,000$41.8M0.04%
239
FL FLSHSG 1.75 07/01/2033FLORIDA HSG FIN 1 75 33SING HSG DUE 07/01/33XTRO
50,000$41.8M0.04%
240
OK OKSCTT 4 06/01/2029OKLAHOMA DEV FIN AU 4 29IMPT EDUC DUE 06/01/29XTRO
40,000$41.8M0.04%
241
ICAGYINTERNTNL CONS AIRLS A FSPONSORED ADR 1 ADR REPS 2 ORD SHS
4,000$41.4M0.04%
242
WEC 5.15 10/01/27WEC ENERGY GROUP 5 15 27 DUE 10/01/27
40,000$40.7M0.04%
243
JXN 5.17 06/08/27JACKSON FINL INC 5 17 27 DUE 06/08/27
40,000$40.5M0.04%
244
SRE 5.4 08/01/26SEMPRA 5 4 26 DUE 08/01/26
40,000$40.3M0.04%
245
TX VAY 2 02/15/2036VAN ALSTYNE TEX 2 36DB LTX DUE 02/15/36
50,000$40.2M0.04%
246
MS 5 11/24/25MORGAN STANLEY 5 25 DUE 11/24/25
40,000$40.0M0.04%
247
O 0.75 03/15/26REALTY INCOME CO 0 75 26 DUE 03/15/26
40,000$39.3M0.04%
248
VTWOVANGUARD RUSSELL 2000 ETF
400$39.1M0.04%
249
WFC 4.25 03/05/26WELLS FARGO BANK 4 25 26CD FDIC INS DUE 03/05/26US
39,000$39.0M0.04%
250
KS BUTSCD 3 09/01/2034BUTLER CNTY KANS UN 3 34GO UTX DUE 09/01/34
40,000$38.4M0.03%
251
TX SANFAC 4 09/15/2042SAN ANTONIO TEX PUB 4 42CONV BLDG DUE 09/15/42OID XTRO
42,000$38.4M0.03%
252
GS 1.65 06/10/27 MTNTHE GOLDMAN SACH 1 65 27 DUE 06/10/27
40,000$38.1M0.03%
253
VWOVANGUARD FTSE EMERGING MARKETS ETF
703$38.1M0.03%
254
SPHQINVESCO S&P 500 QUALITY ETF
515$37.7M0.03%
255
WELL 2.05 01/15/29WELLTOWER INC 2 05 29 DUE 01/15/29
40,000$37.4M0.03%
256
BK 1.9 01/25/29 JTHE BANK OF NEW Y 1 9 29 DUE 01/25/29
40,000$37.4M0.03%
257
DIS 2 09/01/29THE WALT DISNEY CO 2 29 DUE 09/01/29
40,000$37.1M0.03%
258
OK LEFEDU 4 12/01/2028LOVE CNTY OKLA EDL 4 28LEAS SCH DUE 12/01/28XTRO
35,000$36.1M0.03%
259
BMO 5.203 02/01/28BANK OF MONTRE5 203 28F DUE 02/01/28
35,000$35.8M0.03%
260
VOD 4.375 05/30/28VODAFONE GROUP4 375 28F DUE 05/30/28
35,000$35.6M0.03%
261
STLASTELLANTIS N V F
3,787$35.4M0.03%
262
MS 4.8 07/10/26 0002MORGAN STANLEY PR 4 8 26CD FDIC INS DUE 07/10/26US
35,000$35.3M0.03%
263
LA BOSSCD 4 03/01/2029BOSSIER PARISH LA P 4 29GO UTX DUE 03/01/29
35,000$35.2M0.03%
264
KS WIC 2 06/01/2033WICHITA KANS 2 33DB UTX DUE 06/01/33
40,000$35.1M0.03%
265
BAC 4.15 05/27/26BANK OF AMERICA, 4 15 26CD FDIC INS DUE 05/27/26US
35,000$35.1M0.03%
266
TX LWCGEN 4 05/15/2035LOWER COLO RIV AUTH 4 35ELEC UTIL DUE 05/15/35
35,000$35.0M0.03%
267
MS 4 04/30/26 0000MORGAN STANLEY BANK 4 26CD FDIC INS DUE 04/30/26US
35,000$35.0M0.03%
268
BAC 4.05 02/09/26BANK OF AMERICA, 4 05 26CD FDIC INS DUE 02/09/26US
35,000$35.0M0.03%
269
TX MISDEV 4 09/01/2027MISSION TEX REDEV A 4 27TAXI TAX DUE 09/01/27
35,000$35.0M0.03%
270
WOORIA 4.25 10/28/25WOORI AMERICA BA 4 25 25CD FDIC INS DUE 10/28/25US
35,000$35.0M0.03%
271
TX CHAGEN 3.75 09/01/2028CHAMBERS CNTY TE 3 75 28GO UTX DUE 09/01/28
35,000$35.0M0.03%
272
SO 4.15 12/01/25SOUTHERN POWER C 4 15 25 CALLED @100 EFF: 10/21/2025
35,000$35.0M0.03%
273
WFC 3.85 06/22/26WELLS FARGO BANK 3 85 26CD FDIC INS DUE 06/22/26US
35,000$35.0M0.03%
274
PA CUMGEN 4 11/01/2035CUMBERLAND CNTY PA 4 35SYST HLTH DUE 11/01/35XTRO
35,000$34.9M0.03%
275
FLR 4.25 09/15/28FLUOR CORP 4 25 28 DUE 09/15/28
35,000$34.6M0.03%
276
VTVANGUARD TOTAL WORLD STOCK ETF
248$34.2M0.03%
277
IL LAKUTL 2 12/01/2030LAKE CNTY ILL WTR & 2 30WRSR UTIL DUE 12/01/30
35,000$32.3M0.03%
278
XSLVINVESCO S&P SMALLCAP LOWVOLATILITY ETF
697$32.3M0.03%
279
BLSHBULLISH F
500$31.8M0.03%
280
JPMJPMORGAN CHASE & CO
100$31.5M0.03%
281
EXR 5.5 07/01/30EXTRA SPACE STORA 5 5 30 DUE 07/01/30
30,000$31.3M0.03%
282
CVXCHEVRON CORP NEW
200$31.1M0.03%
283
R 5.65 03/01/28 MTNRYDER SYSTEM INC 5 65 28 DUE 03/01/28
30,000$31.0M0.03%
284
PM 5.125 02/15/30PHILIP MORRIS I 5 125 30 DUE 02/15/30
30,000$31.0M0.03%
285
MI BLK 4 05/01/2032BLACKMAN TWP MICH 4 32GO UTX DUE 05/01/32
30,000$30.9M0.03%
286
PGPROCTER & GAMBLE CO
200$30.7M0.03%
287
LLYELI LILLY AND CO
40$30.5M0.03%
288
VTIPVANGUARD SHRT INF PROT SEC INDEX ETF
594$30.1M0.03%
289
EPD 5.05 01/10/26ENTERPRISE PRODU 5 05 26 DUE 01/10/26
30,000$30.1M0.03%
290
FL GOLGEN 3.5 03/01/2032UCF STAD CORP FLA 3 5 32FAC EDUC DUE 03/01/32OID
30,000$30.1M0.03%
291
MI MIS 3.59 12/01/2026MICHIGAN ST 3 59 26GO UTX DUE 12/01/26TAXBL
30,000$30.0M0.03%
292
ATH 4.125 01/12/28ATHENE HOLDING 4 125 28 DUE 01/12/28
30,000$29.9M0.03%
293
TX HARFAC 4 11/15/2036HARRIS CNTY TEX CUL 4 36SERV EDR DUE 11/15/36XTRO
30,000$29.9M0.03%
294
OK TULAPT 3.5 06/01/2027TULSA OKLA ARPTS 3 5 27AIR TRAN DUE 06/01/27XTRO TAXBL
30,000$29.8M0.03%
295
JPM V1.47 09/22/27JPMORGAN CHASE & VAR 27 DUE 09/22/27
30,000$29.3M0.03%
296
MAA 1.1 09/15/26MID-AMERICA APART 1 1 26 DUE 09/15/26
30,000$29.2M0.03%
297
OK NOR 2.25 06/01/2030NORMAN OKLA 2 25 30GO UTX DUE 06/01/30OID
30,000$28.8M0.03%
298
JPM 2 11/14/28 GMTNJPMORGAN CHASE & CO 2 28 DUE 11/14/28
30,000$27.8M0.02%
299
USB 4.3 01/02/26 CDU S BANK NTNL AS 4 3 26CD FDIC INS DUE 01/02/26US
27,000$27.0M0.02%
300
COPCONOCOPHILLIPS
279$26.4M0.02%
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