Elm Partners Management LLC Q4 2025 Filing

Filed February 10, 2026

Portfolio Value

$2.2B

Holdings

154

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (154 positions)

#StockSharesValue% PortfolioType
1
VTIVANGUARD INDEX FDS
996,018$333.9M15.15%
2
VWOVANGUARD INTL EQUITY INDEX F
4,625,697$248.7M11.28%
3
SCHPSCHWAB STRATEGIC TR
7,072,390$187.3M8.50%
4
VGKVANGUARD INTL EQUITY INDEX F
2,196,125$183.6M8.33%
5
ELMSERIES PORTFOLIOS TR
4,496,630$122.5M5.56%
6
VPLVANGUARD INTL EQUITY INDEX F
1,207,832$109.2M4.95%
7
IEMGISHARES INC
1,484,000$99.8M4.53%
8
VGSHVANGUARD SCOTTSDALE FDS
1,328,709$78.0M3.54%
9
VOOVANGUARD INDEX FDS
120,434$75.5M3.43%
10
BNDVANGUARD BD INDEX FDS
991,972$73.5M3.33%
11
IEURISHARES TR
961,294$68.2M3.10%
12
ITOTISHARES TR
404,268$60.1M2.73%
13
SGOVISHARES TR
479,084$48.1M2.18%
14
STIPISHARES TR
428,603$43.9M1.99%
15
SPEMSPDR INDEX SHS FDS
876,410$41.0M1.86%
16
BBEUJ P MORGAN EXCHANGE TRADED F
556,073$40.8M1.85%
17
IPACISHARES TR
489,530$35.8M1.63%
18
AGGISHARES TR
291,724$29.1M1.32%
19
BBCAJ P MORGAN EXCHANGE TRADED F
295,147$27.4M1.25%
20
VTVVANGUARD INDEX FDS
125,961$24.1M1.09%
21
VTEBVANGUARD MUN BD FDS
452,643$22.8M1.03%
22
NVDANVIDIA CORPORATION
110,132$20.5M0.93%
23
VBVANGUARD INDEX FDS
74,845$19.3M0.88%
24
MUBISHARES TR
130,108$13.9M0.63%
25
SCHHSCHWAB STRATEGIC TR
627,312$13.1M0.59%
26
IVVISHARES TR
14,610$10.0M0.45%
27
VNQVANGUARD INDEX FDS
96,023$8.5M0.39%
28
VBILVANGUARD INSTL INDEX FD
108,898$8.2M0.37%
29
EWCISHARES INC
112,477$6.1M0.28%
30
AAPLAPPLE INC
19,832$5.4M0.24%
31
DFUSDIMENSIONAL ETF TRUST
70,637$5.2M0.24%
32
VFHVANGUARD WORLD FD
37,784$5.0M0.23%
33
IUSVISHARES TR
45,133$4.6M0.21%
34
BRK-BBERKSHIRE HATHAWAY INC DEL
6$4.5M0.21%
35
SPYSPDR S&P 500 ETF TR
6,364$4.3M0.20%
36
CRWDCROWDSTRIKE HLDGS INC
9,094$4.3M0.19%
37
LLYELI LILLY & CO
3,837$4.1M0.19%
38
XLKSELECT SECTOR SPDR TR
27,373$3.9M0.18%
39
SCHFSCHWAB STRATEGIC TR
163,644$3.9M0.18%
40
VGTVANGUARD WORLD FD
5,170$3.9M0.18%
41
COHRCOHERENT CORP
19,998$3.7M0.17%
42
VEAVANGUARD TAX-MANAGED FDS
59,046$3.7M0.17%
43
SPYMSPDR SERIES TRUST
42,976$3.4M0.16%
44
BNBROOKFIELD CORP
69,811$3.2M0.15%
45
IBMINTERNATIONAL BUSINESS MACHS
10,778$3.2M0.14%
46
XLFSELECT SECTOR SPDR TR
57,384$3.1M0.14%
47
VRTVERTIV HOLDINGS CO
19,053$3.1M0.14%
48
VCRVANGUARD WORLD FD
7,496$3.0M0.13%
49
VHTVANGUARD WORLD FD
10,005$2.9M0.13%
50
SCHBSCHWAB STRATEGIC TR
106,827$2.8M0.13%
51
MSFTMICROSOFT CORP
5,331$2.6M0.12%
52
IJRISHARES TR
21,045$2.5M0.11%
53
VOXVANGUARD WORLD FD
12,864$2.5M0.11%
54
GOOGLALPHABET INC
7,361$2.3M0.10%
55
VISVANGUARD WORLD FD
6,882$2.1M0.09%
56
RTXRTX CORPORATION
9,347$1.7M0.08%
57
AMDADVANCED MICRO DEVICES INC
7,998$1.7M0.08%
58
IVEISHARES TR
7,791$1.7M0.07%
59
GOOGALPHABET INC
4,977$1.6M0.07%
60
FLCAFRANKLIN TEMPLETON ETF TR
30,762$1.5M0.07%
61
VXUSVANGUARD STAR FDS
18,391$1.4M0.06%
62
JPMJPMORGAN CHASE & CO.
4,114$1.3M0.06%
63
AVGOBROADCOM INC
3,600$1.2M0.06%
64
LRCXLAM RESEARCH CORP
7,250$1.2M0.06%
65
XLISELECT SECTOR SPDR TR
7,789$1.2M0.05%
66
VUGVANGUARD INDEX FDS
2,414$1.2M0.05%
67
AQLTISHARES TR
12,848$1.1M0.05%
68
DUKDUKE ENERGY CORP NEW
9,254$1.1M0.05%
69
BTCGRAYSCALE BITCOIN MINI TR ET
27,600$1.1M0.05%
70
BRK/BBERKSHIRE HATHAWAY INC DEL
2,110$1.1M0.05%
71
ABBVABBVIE INC
4,585$1.0M0.05%
72
SCHASCHWAB STRATEGIC TR
35,815$1.0M0.05%
73
AMZNAMAZON COM INC
4,399$1.0M0.05%
74
COSTCOSTCO WHSL CORP NEW
1,154$995K0.05%
75
VIGVANGUARD SPECIALIZED FUNDS
4,521$993K0.05%
76
NFLXNETFLIX INC
9,763$915K0.04%
77
METAMETA PLATFORMS INC
1,319$870K0.04%
78
IWFISHARES TR
1,689$799K0.04%
79
ALNYALNYLAM PHARMACEUTICALS INC
2,008$798K0.04%
80
DDOMINION ENERGY INC
13,078$766K0.03%
81
MKLMARKEL GROUP INC
349$750K0.03%
82
VBRVANGUARD INDEX FDS
3,471$735K0.03%
83
IUSGISHARES TR
4,148$696K0.03%
84
IWMISHARES TR
2,772$682K0.03%
85
OEFISHARES TR
1,989$682K0.03%
86
XOMEXXON MOBIL CORP
5,644$679K0.03%
87
VEUVANGUARD INTL EQUITY INDEX F
9,162$673K0.03%
88
VOEVANGUARD INDEX FDS
3,584$635K0.03%
89
BILSPDR SERIES TRUST
6,683$610K0.03%
90
ORCLORACLE CORP
2,892$563K0.03%
91
TIPISHARES TR
5,116$562K0.03%
92
BACBANK AMERICA CORP
10,162$558K0.03%
93
IVWISHARES TR
4,406$543K0.02%
94
SRESEMPRA
6,153$543K0.02%
95
SCHVSCHWAB STRATEGIC TR
17,881$529K0.02%
96
PLDPROLOGIS INC.
4,028$514K0.02%
97
TSMTAIWAN SEMICONDUCTOR MFG LTD
1,614$490K0.02%
98
IAU*ISHARES GOLD TR
5,914$480K0.02%
99
VVISA INC
1,307$458K0.02%
100
DLODLOCAL LTD
32,000$452K0.02%
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