Elm Partners Management LLC — Q3 2025 13F Holdings

Name: Elm Partners Management LLC — 13F Holdings, Q3 2025
Creator: AlphaSMO
License: https://www.sec.gov/forms

CIK: 0001743941

Total reported value

$2.3B

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Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	VTI	Vanguard Total Stock Mkt ETF	ETF-Other	15.43%	-2.18%	+11.51%
2	VWO	Vanguard Ftse Emerging Marke	ETF-Emerging Markets	11.10%	-0.76%	+8.91%
3	ELM	Elm Market Navigator ETF	ETF-Other	8.26%	+1.36%	-3.18%
4	VGK	Vanguard Ftse Europe ETF	ETF-Other	7.54%	-1.00%	+2.89%
5	SCHP	Schwab U.s. Tips ETF	ETF-Other	7.41%	+0.79%	+22.71%
6	IEMG	Ishares Core Msci Emerging	ETF-Emerging Markets	4.94%	+0.70%	+0.11%
7	VPL	Vanguard Ftse Pacific ETF	ETF-Other	4.94%	+0.06%	+8.13%
8	SGOV	Ishares 0-3 Month Treasury B	ETF-Gov Bonds	4.05%	-0.94%	-36.10%
9	IEUR	Ishares Core Msci Europe ETF	ETF-Other	3.55%	+0.21%	+4.64%
10	ITOT	Ishares Core S&p Total U.s.	ETF-Other	2.99%	—	+7.42%
11	VOO	Vanguard S&p 500 ETF	ETF-Large Cap & Growth	2.77%	-0.74%	+5.20%
12	VGSH	Vanguard Short-term Treasury	ETF-Gov Bonds	2.47%	-0.58%	+126.75%
13	STIP	Ishares 0-5 Year Tips Bond E	ETF-Other	2.29%	-1.19%	-0.89%
14	BND	Vanguard Total Bond Market	ETF-Other	2.12%	-0.96%	+31.58%
15	BBEU	Jpmorgan Betabuilders Europe	ETF-Other	1.74%	+0.07%	+38.68%
16	IPAC	Ishares Core Msci Pacific Et	ETF-Other	1.74%	—	-0.74%
17	SPEM	State Street Sp Ptf Em ETF	ETF-Other	1.66%	-0.23%	+4.28%
18	NVDA	Nvidia CORP	Stock-Tech	1.24%	-0.14%	+9.98%
19	BBCA	Jpmorgan Betabuilders Canada	ETF-Other	1.20%	+0.02%	+5.30%
20	VTV	Vanguard Value ETF	ETF-Other	1.07%	+0.07%	+80.22%
21	VB	Vanguard Small-cap ETF	ETF-Other	0.98%	+0.06%	+200.16%
22	AGG	Ishares Core U.s. Aggregate	ETF-Other	0.91%	-0.14%	-3.96%
23	SCHH	Schwab US Reit ETF	ETF-Other	0.61%	+0.34%	+63.14%
24	IVV	Ishares Core S&p 500 ETF	ETF-Large Cap & Growth	0.49%	-0.04%	+3.60%
25	VTEB	Vanguard Tax-exempt Bond ETF	ETF-Other	0.34%	-0.22%	-32.44%
26	AAPL	Apple INC	Stock-Tech	0.32%	+0.04%	+237.00%
27	VNQ	Vanguard Real Estate ETF	ETF-Other	0.30%	—	+6.63%
28	EWC	Ishares Msci Canada ETF	ETF-Other	0.29%	—	-1.14%
29	MU	Micron Technology INC	Stock-Tech	0.28%	—	—
30	MUB	Ishares National Muni Bond E	ETF-Other	0.27%	+0.01%	-20.12%
31	DFUS	Dimensional US Eq Mkt ETF	ETF-Other	0.26%	+0.01%	—
32	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	0.24%	—	+242.53%
33	BRK-A	Berkshire Hathaway Inc-cl A	Stock-Other	0.23%	—	+20.00%
34	IUSV	Ishares Core S&p U.s. Value	ETF-Other	0.23%	—	-1.26%
35	CRWD	Crowdstrike Holdings INC - A	Stock-Tech	0.22%	-0.06%	+1.04%
36	COHR	Coherent CORP	Stock-Tech	0.22%	—	+100.01%
37	AMD	Advanced Micro Devices	Stock-Tech	0.20%	—	+276.09%
38	IWF	Ishares Russell 1000 Growth	ETF-Other	0.18%	-0.03%	—
39	SCHF	Schwab Intl Equity ETF	ETF-Other	0.18%	+0.02%	+1.83%
40	VGT	Vanguard Info Tech ETF	ETF-Tech	0.18%	-0.16%	+6.43%
41	XLK	Ss Technology Select Sector	ETF-Tech	0.16%	-0.03%	+12.20%
42	VEA	Vanguard Ftse Developed ETF	ETF-Other	0.16%	—	+161.67%
43	SPYM	Ste Str Spdr Pt S&p 500 ETF	ETF-Large Cap & Growth	0.15%	+0.52%	+15.91%
44	LLY	Eli Lilly & Co	Stock-Healthcare	0.15%	-0.04%	+8.03%
45	IBM	Intl Business Machines CORP	Stock-Tech	0.15%	-0.03%	+9.67%
46	VRT	Vertiv Holdings Co-a	Stock-Industrials	0.14%	+0.05%	—
47	MSFT	Microsoft CORP	Stock-Tech	0.14%	-0.04%	+276.60%
48	VFH	Vanguard Financials ETF	ETF-Other	0.14%	-0.11%	+125.60%
49	VCR	Vanguard Consumer Discre ETF	ETF-Other	0.13%	-0.03%	+4.18%
50	SCHB	Schwab US Broad Market ETF	ETF-Other	0.12%	—	+5.46%

1–50 of 147

Holding changes this quarter

Position changes disclosed by Elm Partners Management LLC for the quarter ending Q3 2025, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	VTI	Vanguard Total Stock Mkt ETF	+8.3%	+11.51%	Add
2	VOO	Vanguard S&p 500 ETF	+2%	+5.20%	Add
3	VWO	Vanguard Ftse Emerging Marke	+1.8%	+8.91%	Add
4	VPL	Vanguard Ftse Pacific ETF	+1.7%	+8.13%	Add
5	IEUR	Ishares Core Msci Europe ETF	+1.4%	+4.64%	Add
6	VGSH	Vanguard Short-term Treasury	+1.4%	+126.75%	Add
7	BBEU	Jpmorgan Betabuilders Europe	+1.4%	+38.68%	Add
8	SPEM	State Street Sp Ptf Em ETF	+0.9%	+4.28%	Add
9	VB	Vanguard Small-cap ETF	+0.4%	+200.16%	Add
10	AAPL	Apple INC	+0.3%	+237.00%	Add
11	IPAC	Ishares Core Msci Pacific Et	+0.2%	-0.74%	Add
12	SPY	Ss Spdr S&p 500 ETF Trust-us	+0.1%	+242.53%	Add
13	XLK	Ss Technology Select Sector	+0.1%	+12.20%	Add
14	MSFT	Microsoft CORP	+0.1%	+276.60%	Add
15	VCR	Vanguard Consumer Discre ETF	+0.1%	+4.18%	Add
16	VEA	Vanguard Ftse Developed ETF	+0.1%	+161.67%	Add
17	VGT	Vanguard Info Tech ETF	+0.1%	+6.43%	Add
18	VFH	Vanguard Financials ETF	+0.1%	+125.60%	Add
19	VOX	Vanguard Communication Servi	+0.1%	+9.41%	Add
20	IEMG	Ishares Core Msci Emerging	+0.1%	+0.11%	Add
21	VTV	Vanguard Value ETF	0%	+80.22%	Add
22	SCHH	Schwab US Reit ETF	-0.1%	+63.14%	Add
23	BBCA	Jpmorgan Betabuilders Canada	-0.1%	+5.30%	Add
24	BIL	Ss Spdr Bb 1-3m T-bill ETF	-0.1%	-23.67%	Trim
25	VNQ	Vanguard Real Estate ETF	-0.2%	+6.63%	Trim
26	VTEB	Vanguard Tax-exempt Bond ETF	-0.3%	-32.44%	Trim
27	SPYM	Ste Str Spdr Pt S&p 500 ETF	-0.4%	+15.91%	Trim
28	IVV	Ishares Core S&p 500 ETF	-0.5%	+3.60%	Trim
29	AGG	Ishares Core U.s. Aggregate	-0.6%	-3.96%	Trim
30	BND	Vanguard Total Bond Market	-0.8%	+31.58%	Trim
31	VGK	Vanguard Ftse Europe ETF	-1.2%	+2.89%	Trim
32	STIP	Ishares 0-5 Year Tips Bond E	-1.4%	-0.89%	Trim
33	ITOT	Ishares Core S&p Total U.s.	-1.7%	+7.42%	Trim
34	SGOV	Ishares 0-3 Month Treasury B	-2.9%	-36.10%	Trim
35	SCHP	Schwab U.s. Tips ETF	-6.5%	+22.71%	Trim
36	ELM	Elm Market Navigator ETF	-9%	-3.18%	Trim
37	NVDA	Nvidia CORP	—	NEW	New buy
38	MU	Micron Technology INC	—	NEW	New buy
39	DFUS	Dimensional US Eq Mkt ETF	—	NEW	New buy
40	BRK-A	Berkshire Hathaway Inc-cl A	—	NEW	New buy
41	CRWD	Crowdstrike Holdings INC - A	—	NEW	New buy
42	COHR	Coherent CORP	—	NEW	New buy
43	AMD	Advanced Micro Devices	—	NEW	New buy
44	IWF	Ishares Russell 1000 Growth	—	NEW	New buy
45	LLY	Eli Lilly & Co	—	NEW	New buy
46	IBM	Intl Business Machines CORP	—	NEW	New buy
47	VRT	Vertiv Holdings Co-a	—	NEW	New buy
48	NFLX	Netflix INC	—	NEW	New buy
49	BN	Brookfield CORP	—	NEW	New buy
50	GOOGL	Alphabet Inc-cl A	—	NEW	New buy