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EPM

Elm Partners Management Portfolio holdings

AUM $2.79B
1-Year Est. Return 18.53%
This Fund
S&P 500
This Quarter Est. Return
+5.95%
1 Year Est. Return
+18.53%
3 Year Est. Return
+48.03%
5 Year Est. Return
+38.03%
10 Year Est. Return
–
AUM
$2B
AUM Growth
+$279M
Cap. Flow
+$176M
Cap. Flow %
8.77%
Top 10 Hldgs %
70.21%
Holding
152
New
55
Increased
73
Reduced
15
Closed
3

Top Buys

Rank Stock Value
1
VTI icon
Vanguard Morningstar Total Stock Market ETF
VTI
+$30.7M
2
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$27.5M
3
SCHP icon
Schwab US TIPS ETF
SCHP
+$27.3M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$17.3M
5
VB icon
Vanguard Morningstar Small-Cap ETF
VB
+$12.7M

Top Sells

Rank Stock Value
1
SGOV icon
iShares 0-3 Month Treasury Bond ETF
SGOV
+$45.7M
2
ELM
Elm Market Navigator ETF
ELM
+$5.27M
3
VTEB icon
Vanguard Tax-Exempt Bond Index Fund
VTEB
+$3.18M
4
MUB icon
iShares National Muni Bond ETF
MUB
+$1.32M
5
KMI icon
Kinder Morgan
KMI
+$991K

Sector Composition

Rank Sector Weight
1 Technology 2.42%
2 Financials 0.57%
3 Industrials 0.29%
4 Healthcare 0.26%
5 Communication Services 0.26%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
TSM icon
101
TSMC
TSM
$2.1T
$426K 0.02%
1,525
+14
+0.9% +$3.42K
LIN icon
102
Linde
LIN
$221B
$414K 0.02%
871
+320
+58% +$151K
IWN icon
103
iShares Russell 2000 Value ETF
IWN
$14.3B
$402K 0.02%
+2,276
New +$384K
VDC icon
104
Vanguard Consumer Staples ETF
VDC
$7.97B
$396K 0.02%
+1,855
New +$407K
VEU icon
105
Vanguard FTSE All-World ex-US ETF
VEU
$66.6B
$394K 0.02%
+5,526
New +$381K
WMT icon
106
Walmart Inc
WMT
$885B
$390K 0.02%
+3,782
New +$376K
XLY icon
107
State Street Consumer Discretionary Select Sector SPDR ETF
XLY
$22.6B
$369K 0.02%
3,078
+66
+2% +$7.55K
IWD icon
108
iShares Russell 1000 Value ETF
IWD
$82.2B
$362K 0.02%
1,779
+649
+57% +$129K
SCHV
109
Schwab US Large-Cap Value ETF
SCHV
$15.7B
$356K 0.02%
12,215
+116
+1% +$3.3K
BNDX icon
110
Vanguard Total International Bond ETF
BNDX
$81.9B
$355K 0.02%
+7,187
New +$354K
TIP icon
111
iShares TIPS Bond ETF
TIP
$14.5B
$352K 0.02%
3,166
-2,144
-40% -$237K
XLU icon
112
State Street Utilities Select Sector SPDR ETF
XLU
$22.8B
$346K 0.02%
7,932
+1,386
+21% +$58.6K
LOW icon
113
Lowe's Companies
LOW
$117B
$334K 0.02%
+1,329
New +$327K
ASML icon
114
ASML
ASML
$626B
$331K 0.02%
+341
New +$268K
CAT icon
115
Caterpillar
CAT
$375B
$331K 0.02%
+693
New +$296K
VAW icon
116
Vanguard Materials ETF
VAW
$2.95B
$323K 0.02%
1,578
+134
+9% +$27.2K
VDE icon
117
Vanguard Energy ETF
VDE
$10.1B
$319K 0.02%
2,535
+157
+7% +$19.3K
VWOB icon
118
Vanguard Emerging Markets Government Bond ETF
VWOB
$6.15B
$318K 0.02%
4,754
+810
+21% +$53.4K
IAU icon
119
iShares Gold Trust
IAU
$62.9B
$314K 0.02%
4,314
– –
MA icon
120
Mastercard
MA
$502B
$313K 0.02%
+550
New +$316K
IJK icon
121
iShares S&P Mid-Cap 400 Growth ETF
IJK
$10.7B
$308K 0.02%
+3,209
New +$302K
LMT icon
122
Lockheed Martin
LMT
$134B
$305K 0.02%
+610
New +$277K
NVO
123
Novo Nordisk
NVO
$208B
$294K 0.01%
+5,330
New +$312K
GILD icon
124
Gilead Sciences
GILD
$162B
$286K 0.01%
2,573
+445
+21% +$50.6K
APH icon
125
Amphenol
APH
$198B
$279K 0.01%
2,252
– –
3 4
5
6 7

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SHIM
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Elm Partners Management's Q3 2025 Portfolio in Review

As of Q3 2025, Elm Partners Management held 152 positions worth $2B, up 16% from $1.72B the previous quarter. Its ten largest holdings account for 70% of the portfolio.

Elm Partners Management deployed $176M of net new capital in Q3 2025, opening 55 new positions and adding to 73 existing holdings. Its largest new stake was Dimensional US Equity ETF: 70,637 shares worth $5.12M.

By sector, the portfolio is most concentrated in Technology at 2.4% of assets, up from 1.9% a quarter earlier, followed by Financials and Industrials.

On the sell side, the largest reduction was iShares 0-3 Month Treasury Bond ETF, an estimated $45.7M trimmed.

  • Elm Partners Management's largest Q3 2025 buy was Dimensional US Equity ETF: 70,637 shares worth $5.12M.
  • Elm Partners Management added most to Vanguard Morningstar Total Stock Market ETF in Q3 2025, an estimated $30.7M increase.
  • Elm Partners Management's biggest Q3 2025 reduction was iShares 0-3 Month Treasury Bond ETF, cutting an estimated $45.7M.
  • Elm Partners Management fully exited Kinder Morgan in Q3 2025, selling an estimated $991K.
  • Elm Partners Management's ten largest holdings make up 70% of its $2B portfolio in Q3 2025.
  • Elm Partners Management opened 55 new positions and closed 3 in Q3 2025.
  • Elm Partners Management's portfolio value rose 16% quarter-over-quarter to $2B.

Based on Elm Partners Management's 13F filing for Q3 2025, filed 4 Nov 2025.