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Elm Advisors Portfolio holdings

AUM $74.1M
1-Year Est. Return 7.85%
This Fund
S&P 500
This Quarter Est. Return
-12.85%
1 Year Est. Return
+7.85%
3 Year Est. Return
+50.49%
5 Year Est. Return
+77.47%
10 Year Est. Return
–
AUM
$124M
AUM Growth
-$25.5M
Cap. Flow
-$6.65M
Cap. Flow %
-5.36%
Top 10 Hldgs %
58.17%
Holding
298
New
2
Increased
26
Reduced
17
Closed
219

Top Buys

Rank Stock Value
1
VTEB icon
Vanguard Tax-Exempt Bond Index Fund
VTEB
+$2.4M
2
CMF icon
iShares California Muni Bond ETF
CMF
+$1.02M
3
VEU icon
Vanguard FTSE All-World ex-US ETF
VEU
+$906K
4
ITOT icon
iShares Core S&P Total US Stock Market ETF
ITOT
+$598K
5
VOO icon
Vanguard S&P 500 ETF
VOO
+$447K

Top Sells

Rank Stock Value
1
WFC icon
Wells Fargo
WFC
+$730K
2
VTI icon
Vanguard Total Stock Market ETF
VTI
+$317K
3
NVDA icon
NVIDIA
NVDA
+$311K
4
IWC icon
iShares Micro-Cap ETF
IWC
+$256K
5
VBR icon
Vanguard Small-Cap Value ETF
VBR
+$219K

Sector Composition

Rank Sector Weight
1 Financials 6.12%
2 Technology 4.04%
3 Industrials 3.32%
4 Consumer Discretionary 2.33%
5 Consumer Staples 2.21%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
GHC icon
151
Graham Holdings Company
GHC
$4.97B
– –
-65
Closed -$38K
GILD icon
152
Gilead Sciences
GILD
$161B
– –
-500
Closed -$39K
GIS icon
153
General Mills
GIS
$19.2B
– –
-3,184
Closed -$137K
GLD icon
154
SPDR Gold Trust
GLD
$131B
– –
-225
Closed -$25K
GLW icon
155
Corning
GLW
$126B
– –
-840
Closed -$30K
GOOG icon
156
Alphabet (Google) Class C
GOOG
$3.9T
– –
-2,320
Closed -$138K
GOOGL icon
157
Alphabet (Google) Class A
GOOGL
$3.91T
– –
-2,120
Closed -$128K
GVA icon
158
Granite Construction
GVA
$5.45B
– –
-3,730
Closed -$170K
HAL icon
159
Halliburton
HAL
$27.9B
– –
-850
Closed -$34K
HD icon
160
Home Depot
HD
$332B
– –
-325
Closed -$67K
HE icon
161
Hawaiian Electric Industries
HE
$2.33B
– –
-287
Closed -$10K
HON icon
162
Honeywell
HON
$77.1B
– –
-282
Closed -$42K
HYG icon
163
iShares iBoxx $ High Yield Corporate Bond ETF
HYG
$16.3B
– –
-300
Closed -$26K
ICF icon
164
iShares Select U.S. REIT ETF
ICF
$2.12B
– –
-750
Closed -$38K
IDU icon
165
iShares US Utilities ETF
IDU
$1.41B
– –
-200
Closed -$13K
IEMG icon
166
iShares Core MSCI Emerging Markets ETF
IEMG
$149B
– –
-1,735
Closed -$90K
IEV icon
167
iShares Europe ETF
IEV
$1.63B
– –
-4,000
Closed -$180K
IFGL icon
168
iShares International Developed Real Estate ETF
IFGL
$81.6M
– –
-120
Closed -$3K
IGF icon
169
iShares Global Infrastructure ETF
IGF
$11B
– –
-200
Closed -$8K
ILF icon
170
iShares Latin America 40 ETF
ILF
$3.77B
– –
-5,000
Closed -$157K
ITW icon
171
Illinois Tool Works
ITW
$81.4B
– –
-120
Closed -$17K
IWB icon
172
iShares Russell 1000 ETF
IWB
$47.7B
– –
-545
Closed -$88K
IWC icon
173
iShares Micro-Cap ETF
IWC
$1.43B
– –
-2,407
Closed -$256K
IWD icon
174
iShares Russell 1000 Value ETF
IWD
$82B
– –
-250
Closed -$32K
IWN icon
175
iShares Russell 2000 Value ETF
IWN
$14.4B
– –
-835
Closed -$111K
5 6
7
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DCM
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LSC
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EM
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TLCM
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A
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AAI
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TEE
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Elm Advisors's Q4 2018 Portfolio in Review

As of Q4 2018, Elm Advisors held 298 positions worth $124M, down 17% from $149M the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Elm Advisors withdrew a net $6.65M in Q4 2018, closing 219 positions and reducing 17 holdings. Its most notable exit was Wells Fargo, an estimated $730K position sold in full.

By sector, the portfolio is most concentrated in Financials at 6.1% of assets, down from 6.7% a quarter earlier, followed by Technology and Industrials.

Against the trend, Elm Advisors opened a new position in Vanguard Tax-Exempt Bond Index Fund worth $2.43M.

  • Elm Advisors's largest Q4 2018 buy was Vanguard Tax-Exempt Bond Index Fund: 47,640 shares worth $2.43M.
  • Elm Advisors added most to iShares California Muni Bond ETF in Q4 2018, an estimated $1.02M increase.
  • Elm Advisors's biggest Q4 2018 reduction was Vanguard Total Stock Market ETF, cutting an estimated $317K.
  • Elm Advisors fully exited Wells Fargo in Q4 2018, selling an estimated $730K.
  • Elm Advisors's ten largest holdings make up 58% of its $124M portfolio in Q4 2018.
  • Elm Advisors opened 2 new positions and closed 219 in Q4 2018.
  • Elm Advisors's portfolio value fell 17% quarter-over-quarter to $124M.

Based on Elm Advisors's 13F filing for Q4 2018, filed 8 Jan 2019.