KI
Kelman-Lazarov, Inc. 13F Disclosure (Q2 2026) — Portfolio & Holdings
Kelman-Lazarov, Inc.CIK: 0001672067
Diversified strategyMomentum followerLong-term holder
Total reported value
$763.3M
Reporting period: 2026-06-30 · Number of holdings: 154
Kelman-Lazarov, Inc. disclosed 154 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $763.3M and a quarterly turnover rate of 9.8%.
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Personality snowflake
- Concentration
- 16.41
- Portfolio Stability
- 9.82
- Momentum
- 100
- Sector conviction
- 51.97
- Diversification
- 100
- Sizing Uniformity
- 76.87
Kelman-Lazarov, Inc.'s disclosed holdings carry a Herfindahl concentration index of 0.041 — mathematically equivalent to about 24 equally-sized positions, well below its 154 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.31), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 5% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd SCHG
+0.6% $9.2M
Add SPYM
+2.2% $5.6M
Trim STIP
+3.0% $546.8K
Add IJR
-0.9% $4.8M
Trim FNDE
-4.2% -$141.3K
Trim BOND
+1.4% $331.5K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | FNDX | Schwab Fndmntl US Lrg Co ETF | ETF-Other | 9.58% | +0.11% | -0.89% | |
| 2 | SCHG | Schwab US Large-cap Growth | ETF-Other | 8.34% | +0.53% | +0.60% | |
| 3 | MOAT | Vaneck Morningstar Wide Moat | ETF-Other | 7.67% | -0.11% | +0.32% | |
| 4 | SPYM | Ste Str Spdr Pt S&p 500 ETF | ETF-Large Cap & Growth | 4.96% | +0.34% | +2.18% | |
| 5 | STIP | Ishares 0-5 Year Tips Bond E | ETF-Other | 4.29% | -0.33% | +2.96% | |
| 6 | AVDE | Avantis International Equity | ETF-Other | 4.12% | -0.19% | -0.61% | |
| 7 | IJR | Ishares Core S&p Small-cap E | ETF-Small Cap | 4.09% | +0.31% | -0.89% | |
| 8 | SCHX | Schwab US Large-cap ETF | ETF-Other | 3.94% | +0.15% | -0.89% | |
| 9 | GSLC | Goldman Activebeta US Lc ETF | ETF-Commodities | 3.69% | -0.01% | -3.62% | |
| 10 | BOND | Pimco Active Bond Exchange-t | ETF-Other | 3.21% | -0.26% | +1.45% | |
| 11 | MBB | Ishares Mbs ETF | ETF-Other | 3.14% | -0.26% | +1.45% | |
| 12 | FNDC | Schwab Fndmnt Intl Sm Eq ETF | ETF-Other | 3.11% | -0.19% | -1.51% | |
| 13 | FNDE | Schwab Fndmntl Em Mrk Eq ETF | ETF-Other | 2.96% | -0.30% | -4.18% | |
| 14 | IJH | Ishares Core S&p Midcap ETF | ETF-Other | 2.83% | +0.10% | -0.64% | |
| 15 | BSV | Vanguard Short-term Bond ETF | ETF-Other | 2.82% | -0.18% | +3.47% | |
| 16 | GSIE | Goldman Sachs Activebeta Int | ETF-Commodities | 2.69% | -0.11% | -0.91% | |
| 17 | BRK-B | Berkshire Hathaway Inc-cl B | Stock-Other | 2.10% | -0.11% | -0.43% | |
| 18 | QLTY | Gmo U.s. Quality ETF | ETF-Other | 2.08% | +0.11% | +0.08% | |
| 19 | PYLD | Pimco Multisector Bond Actv | ETF-Other | 1.70% | -0.17% | -1.64% | |
| 20 | SCHF | Schwab Intl Equity ETF | ETF-Other | 1.34% | +0.01% | -1.81% | |
| 21 | VUG | Vanguard Growth ETF | ETF-Other | 1.16% | +0.10% | +503.84% | |
| 22 | SMMU | Pimco Shrt Trm Muni Bnd ETF | ETF-Other | 1.14% | -0.03% | +6.97% | |
| 23 | STPZ | Pimco 1-5 Year US Tips Index | ETF-Large Cap & Growth | 0.92% | -0.09% | +0.80% | |
| 24 | AVEM | Avantis Emerging Markets Eq | ETF-Emerging Markets | 0.77% | -0.01% | -8.81% | |
| 25 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 0.63% | +0.07% | -0.75% | |
| 26 | MUNI | Pimco Intermediate Municipal | ETF-Other | 0.63% | -0.04% | +1.92% | |
| 27 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 0.58% | +0.03% | -0.12% | |
| 28 | VCRM | Vanguard Core Tax-ex Bond | ETF-Other | 0.55% | +0.06% | +21.58% | |
| 29 | RWL | Invesco S&p 500 Revenue ETF | ETF-Large Cap & Growth | 0.54% | — | -0.07% | |
| 30 | VV | Vanguard Large-cap ETF | ETF-Other | 0.54% | +0.03% | +1.35% | |
| 31 | VTEB | Vanguard Tax-exempt Bond ETF | ETF-Other | 0.53% | -0.07% | -4.09% | |
| 32 | AAPL | Apple Inc | Stock-Tech | 0.52% | +0.05% | +4.52% | |
| 33 | AVDS | Avantis Intl Sm Cap Eq ETF | ETF-Other | 0.48% | -0.03% | -1.06% | |
| 34 | VTV | Vanguard Value ETF | ETF-Other | 0.44% | — | -1.56% | |
| 35 | PTRB | Pgim Total Return Bond ETF | ETF-Other | 0.41% | -0.06% | -3.65% | |
| 36 | BIV | Vanguard Intermediate-term B | ETF-Other | 0.38% | -0.04% | -0.91% | |
| 37 | FNDA | Schwab Fndmntl US Sm Co ETF | ETF-Other | 0.34% | +0.02% | -0.40% | |
| 38 | VOO | Vanguard S&p 500 ETF | ETF-Large Cap & Growth | 0.30% | +0.06% | +16.10% | |
| 39 | SCHA | Schwab US Small-cap ETF | ETF-Other | 0.29% | +0.02% | -3.50% | |
| 40 | MDY | State Street Spdr S&p Midcap | ETF-Other | 0.28% | +0.01% | -0.82% | |
| 41 | MA | Mastercard Inc - A | Stock-Financials | 0.26% | -0.03% | -2.77% | |
| 42 | SPMD | Ss Spdr P S&p 400 Midcap ETF | ETF-Other | 0.25% | +0.01% | -0.15% | |
| 43 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 0.25% | — | -6.88% | |
| 44 | AVSU | Avantis Resp US Equity ETF | ETF-Other | 0.25% | +0.03% | +0.61% | |
| 45 | SCHM | Schwab US Mid Cap ETF | ETF-Other | 0.24% | +0.02% | -0.42% | |
| 46 | VIG | Vanguard Dividend Apprec ETF | ETF-Other | 0.23% | -0.01% | -1.33% | |
| 47 | IYY | Ishares Dow Jones U.s. ETF | ETF-Other | 0.21% | +0.01% | -0.14% | |
| 48 | DIA | Ss Spdr Dow Jones Indus Avg | ETF-Large Cap & Growth | 0.21% | +0.01% | +0.23% | |
| 49 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 0.20% | +0.03% | +4.96% | |
| 50 | BRK-A | Berkshire Hathaway Inc-cl A | Stock-Other | 0.20% | -0.01% | — |
1–50 of 154
Portfolio Performance
Performance for Q3 2026
+3%
Performance Last 4 Quarters
+17.6%
- Stdev
- +9.4%
- Beta
- +0.68
- Alpha
- +0.8%
- Max Drawdown
- -4.9%
- Annualized Perf
- +14.8%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.93
- Stutzer
- +0.44
- Treynor
- +0.21
- Sterling
- +1.06
- Calmar
- +3.01
- Information Ratio
- -1.06
- Tracking Error
- +5.4%
- Stdev Down
- +4.9%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +24.1%
- Worst 12 Months
- +5.3%
- Efficiency Ratio
- +0.57
- Sharpe
- +1.52
- Stdev Sectors
- +8.3%
- Skewness
- -0.24
- Kurtosis
- -0.19
- Upside Potential
- +4.52
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 154 | $763.3M | 10 | ||
| 2026 Q1 | 140 | $697.6M | 6 | ||
| 2025 Q4 | 134 | $700.3M | 11 | ||
| 2025 Q3 | 132 | $674.5M | 22 | ||
| 2025 Q2 | 122 | $617.2M | 0 | ||
| 2025 Q1 | 116 | $550.9M | 100 | ||
| 2024 Q4 | 109 | $555.5M | 0 | ||
| 2024 Q3 | 109 | $581.2M | 0 | ||
| 2024 Q2 | 106 | $536.2M | 0 | ||
| 2024 Q1 | 104 | $511.7M | 0 | ||
| 2023 Q4 | 102 | $461.9M | 0 | ||
| 2023 Q3 | 96 | $422.9M | 0 | ||
| 2023 Q2 | 97 | $415.9M | 0 | ||
| 2023 Q1 | 95 | $385.3M | 0 | ||
| 2022 Q4 | 91 | $355.4M | 0 | ||
| 2022 Q3 | 83 | $293.9M | 0 | ||
| 2022 Q2 | 82 | $296.0M | 0 | ||
| 2022 Q1 | 82 | $300.6M | 0 | ||
| 2021 Q4 | 84 | $310.7M | 0 | ||
| 2021 Q3 | 82 | $285.5M | 0 | ||
| 2021 Q2 | 85 | $286.5M | 99 | ||
| 2021 Q1 | 84 | $280.6M | 9 | ||
| 2020 Q4 | 85 | $260.6M | 17 | ||
| 2020 Q3 | 72 | $220.1M | 9 | ||
| 2020 Q2 | 76 | $215.8M | 22 | ||
| 2020 Q1 | 74 | $186.6M | 37 | ||
| 2019 Q4 | 96 | $222.3M | 24 | ||
| 2019 Q3 | 97 | $202.9M | 9 | ||
| 2019 Q2 | 92 | $195.1M | 18 | ||
| 2019 Q1 | 94 | $189.6M | 25 | ||
| 2018 Q4 | 91 | $160.7M | 34 | ||
| 2018 Q3 | 98 | $170.9M | 35 | ||
| 2018 Q2 | 107 | $186.3M | 17 | ||
| 2018 Q1 | 110 | $186.0M | 14 | ||
| 2017 Q4 | 120 | $195.8M | 12 | ||
| 2017 Q3 | 120 | $189.4M | 16 | ||
| 2017 Q2 | 123 | $182.4M | 23 | ||
| 2017 Q1 | 102 | $155.3M | 25 | ||
| 2016 Q4 | 327 | $177.3M | 12 | ||
| 2016 Q3 | 402 | $176.4M | 10 | ||
| 2016 Q2 | 377 | $175.1M | 17 | ||
| 2016 Q1 | 391 | $170.9M | 0 |
Holding changes this quarter
Kelman-Lazarov, Inc.'s most significant position changes for 2026-06-30: New buy: Advanced Micro Devices (AMD); New buy: ; New buy: Intel CORP (INTC); New buy: Comfort Systems USA Inc (FIX); New buy: Unitedhealth Group Inc (UNH).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SCHG | Schwab US Large-cap Growth | +0.5% | +0.60% | Add |
| 2 | SPYM | Ste Str Spdr Pt S&p 500 ETF | +0.3% | +2.18% | Add |
| 3 | IJR | Ishares Core S&p Small-cap E | +0.3% | -0.89% | Trim |
| 4 | SCHX | Schwab US Large-cap ETF | +0.2% | -0.89% | Trim |
| 5 | FNDX | Schwab Fndmntl US Lrg Co ETF | +0.1% | -0.89% | Trim |
| 6 | QLTY | Gmo U.s. Quality ETF | +0.1% | +0.08% | Add |
| 7 | IJH | Ishares Core S&p Midcap ETF | +0.1% | -0.64% | Trim |
| 8 | VUG | Vanguard Growth ETF | +0.1% | +503.84% | Add |
| 9 | MU | Micron Technology Inc | +0.1% | +8.84% | Add |
| 10 | GOOGL | Alphabet Inc-cl A | +0.1% | -0.75% | Trim |
| 11 | GBIL | Goldman Sachs Access Treasur | +0.1% | +183.43% | Add |
| 12 | AMD | Advanced Micro Devices | +0.1% | NEW | New buy |
| 13 | VCRM | Vanguard Core Tax-ex Bond | +0.1% | +21.58% | Add |
| 14 | VOO | Vanguard S&p 500 ETF | +0.1% | +16.10% | Add |
| 15 | ✓ | +0.1% | NEW | New buy | |
| 16 | AAPL | Apple Inc | +0.1% | +4.52% | Add |
| 17 | AMZN | Amazon.com Inc | 0% | +34.77% | Add |
| 18 | INTC | Intel CORP | 0% | NEW | New buy |
| 19 | FIX | Comfort Systems USA Inc | 0% | NEW | New buy |
| 20 | UNH | Unitedhealth Group Inc | 0% | NEW | New buy |
| 21 | VV | Vanguard Large-cap ETF | 0% | +1.35% | Add |
| 22 | SPY | Ss Spdr S&p 500 ETF Trust-us | 0% | -0.12% | Trim |
| 23 | AVUS | Avantis U.s. Equity ETF | 0% | +17.49% | Add |
| 24 | GOOG | Alphabet Inc-cl C | 0% | +4.96% | Add |
| 25 | AVSU | Avantis Resp US Equity ETF | 0% | +0.61% | Add |
| 26 | GEV | GE Vernova Inc | 0% | NEW | New buy |
| 27 | WDC | Western Digital CORP | 0% | NEW | New buy |
| 28 | XLK | Ss Technology Select Sector | 0% | NEW | New buy |
| 29 | GE | General Electric | 0% | NEW | New buy |
| 30 | SNDK | Sandisk CORP | 0% | NEW | New buy |
| 31 | BLK | Blackrock Inc | 0% | NEW | New buy |
| 32 | VHT | Vanguard Health Care ETF | 0% | NEW | New buy |
| 33 | MOH | Molina Healthcare Inc | 0% | NEW | New buy |
| 34 | MMM | 3m Co | 0% | NEW | New buy |
| 35 | V | Visa Inc-class A Shares | 0% | NEW | New buy |
| 36 | MGV | Vanguard Mega Cap Value ETF | 0% | NEW | New buy |
| 37 | FNDA | Schwab Fndmntl US Sm Co ETF | 0% | -0.40% | Trim |
| 38 | SCHA | Schwab US Small-cap ETF | 0% | -3.50% | Trim |
| 39 | SCHM | Schwab US Mid Cap ETF | 0% | -0.42% | Trim |
| 40 | NVDA | Nvidia CORP | 0% | +10.35% | Add |
| 41 | MTUM | Ishares Msci USA Momentum Fa | 0% | — | Unchanged |
| 42 | AVGO | Broadcom Inc | 0% | +9.26% | Add |
| 43 | SCHF | Schwab Intl Equity ETF | 0% | -1.81% | Trim |
| 44 | QQQ | Invesco Qqq Trust Series 1 | 0% | -3.67% | Trim |
| 45 | MDY | State Street Spdr S&p Midcap | 0% | -0.82% | Trim |
| 46 | SPMD | Ss Spdr P S&p 400 Midcap ETF | 0% | -0.15% | Trim |
| 47 | IYY | Ishares Dow Jones U.s. ETF | 0% | -0.14% | Trim |
| 48 | DIA | Ss Spdr Dow Jones Indus Avg | 0% | +0.23% | Add |
| 49 | IWF | Ishares Russell 1000 Growth | 0% | +300.00% | Add |
| 50 | IWB | Ishares Russell 1000 ETF | 0% | — | Unchanged |
1–50 of 156
Filing History
FAQ
What is Kelman-Lazarov, Inc. and what type of investor is it?
Kelman-Lazarov, Inc. is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $763.3M, spread across 154 disclosed positions.
What are Kelman-Lazarov, Inc.'s largest equity positions?
Based on the latest 13F filing, Kelman-Lazarov, Inc.'s top holdings by market value are:
1. Schwab Fndmntl US Lrg Co ETF (FNDX) — $73.1M (9.6%)
2. Schwab US Large-cap Growth (SCHG) — $63.7M (8.3%)
3. Vaneck Morningstar Wide Moat (MOAT) — $58.5M (7.7%)
4. Ste Str Spdr Pt S&p 500 ETF (SPYM) — $37.8M (5.0%)
5. Ishares 0-5 Year Tips Bond E (STIP) — $32.8M (4.3%)
What changes did Kelman-Lazarov, Inc. make in its most recent portfolio filing?
In the latest reported quarter, Kelman-Lazarov, Inc. made 134 notable position adjustments: 16 new positions were initiated, 55 existing holdings were added to, 61 positions were partially reduced, and 2 were completely exited. The largest of these moves: New buy: Advanced Micro Devices (AMD); New buy: ; New buy: Intel CORP (INTC); New buy: Comfort Systems USA Inc (FIX); New buy: Unitedhealth Group Inc (UNH)
What sectors does Kelman-Lazarov, Inc. focus on?
Kelman-Lazarov, Inc. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 27.4%
• Communication Services: 22.1%
• Consumer Discretionary: 12.7%
• Financials: 10.6%
• Consumer Staples: 9.7%
• Industrials: 8.1%
Investment Profile
Kelman-Lazarov, Inc. returned an annualized 14.8% over the trailing 36 months — outperforming the S&P 500 by 0.8 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.68 (less volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding.
It has added to its FNDX position over the past two quarters (+$9.0M, now $73.1M), while trimming MSFT over the same stretch (-$1.5M, still holding $931.6K).
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