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EPM

Elm Partners Management Portfolio holdings

AUM $2.31B
1-Year Est. Return 16.02%
This Fund
S&P 500
This Quarter Est. Return
+1.55%
1 Year Est. Return
+16.02%
3 Year Est. Return
+37.75%
5 Year Est. Return
+32.26%
10 Year Est. Return
–
AUM
$2.2B
AUM Growth
+$202M
Cap. Flow
+$172M
Cap. Flow %
7.82%
Top 10 Hldgs %
68.61%
Holding
162
New
13
Increased
79
Reduced
34
Closed
8

Top Buys

Rank Stock Value
1
SCHP icon
Schwab US TIPS ETF
SCHP
+$42M
2
BND icon
Vanguard Total Bond Market
BND
+$31.4M
3
VGSH icon
Vanguard Short-Term Treasury ETF
VGSH
+$28.7M
4
VWO icon
Vanguard FTSE Emerging Markets ETF
VWO
+$28.5M
5
VGK icon
Vanguard FTSE Europe ETF
VGK
+$24.8M

Top Sells

Rank Stock Value
1
ELM
Elm Market Navigator ETF
ELM
+$42.8M
2
SGOV icon
iShares 0-3 Month Treasury Bond ETF
SGOV
+$32.8M
3
IEUR icon
iShares Core MSCI Europe ETF
IEUR
+$5.74M
4
NVDA icon
NVIDIA
NVDA
+$4.16M
5
IWF icon
iShares Russell 1000 Growth ETF
IWF
+$2.92M

Sector Composition

Rank Sector Weight
1 Technology 2.12%
2 Financials 0.61%
3 Healthcare 0.36%
4 Industrials 0.28%
5 Communication Services 0.27%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
VTI icon
1
Vanguard Total Stock Market ETF
VTI
$658B
$334M 15.15%
996,018
+54,790
+6% +$18.2M
VWO icon
2
Vanguard FTSE Emerging Markets ETF
VWO
$119B
$249M 11.28%
4,625,697
+525,150
+13% +$28.5M
SCHP icon
3
Schwab US TIPS ETF
SCHP
$16.5B
$187M 8.5%
7,072,390
+1,565,715
+28% +$42M
VGK icon
4
Vanguard FTSE Europe ETF
VGK
$30B
$184M 8.33%
2,196,125
+305,451
+16% +$24.8M
ELM
5
Elm Market Navigator ETF
ELM
$573M
$123M 5.56%
4,496,630
-1,552,255
-26% -$42.8M
VPL icon
6
Vanguard FTSE Pacific ETF
VPL
$8B
$109M 4.95%
1,207,832
+82,677
+7% +$7.48M
IEMG icon
7
iShares Core MSCI Emerging Markets ETF
IEMG
$149B
$99.8M 4.53%
1,484,000
-17,164
-1% -$1.15M
VGSH icon
8
Vanguard Short-Term Treasury ETF
VGSH
$29.3B
$78M 3.54%
1,328,709
+488,675
+58% +$28.7M
VOO icon
9
Vanguard S&P 500 ETF
VOO
$974B
$75.5M 3.43%
120,434
+29,814
+33% +$18.5M
BND icon
10
Vanguard Total Bond Market
BND
$159B
$73.5M 3.33%
991,972
+421,657
+74% +$31.4M
IEUR icon
11
iShares Core MSCI Europe ETF
IEUR
$8.69B
$68.2M 3.1%
961,294
-82,867
-8% -$5.74M
ITOT icon
12
iShares Core S&P Total US Stock Market ETF
ITOT
$93.7B
$60.1M 2.73%
404,268
-6,113
-1% -$902K
SGOV icon
13
iShares 0-3 Month Treasury Bond ETF
SGOV
$97.5B
$48.1M 2.18%
479,084
-326,134
-41% -$32.8M
STIP icon
14
iShares 0-5 Year TIPS Bond ETF
STIP
$15.8B
$43.9M 1.99%
428,603
-15,236
-3% -$1.57M
SPEM icon
15
State Street SPDR Portfolio Emerging Markets ETF
SPEM
$16.9B
$41M 1.86%
876,410
+166,863
+24% +$7.85M
BBEU icon
16
JPMorgan BetaBuilders Europe ETF
BBEU
$9.16B
$40.8M 1.85%
556,073
+55,283
+11% +$3.93M
IPAC icon
17
iShares Core MSCI Pacific ETF
IPAC
$2.59B
$35.8M 1.63%
489,530
+16,183
+3% +$1.2M
AGG icon
18
iShares Core US Aggregate Bond ETF
AGG
$139B
$29.1M 1.32%
291,724
+109,813
+60% +$11M
BBCA icon
19
JPMorgan BetaBuilders Canada ETF
BBCA
$10.8B
$27.4M 1.25%
295,147
+19,267
+7% +$1.72M
VTV icon
20
Vanguard Value ETF
VTV
$186B
$24.1M 1.09%
125,961
+11,018
+10% +$2.07M
VTEB icon
21
Vanguard Tax-Exempt Bond Index Fund
VTEB
$45.6B
$22.8M 1.03%
452,643
+317,820
+236% +$16M
NVDA icon
22
NVIDIA
NVDA
$4.91T
$20.5M 0.93%
110,132
-22,371
-17% -$4.16M
VB icon
23
Vanguard Small-Cap ETF
VB
$79.7B
$19.3M 0.88%
74,845
-2,164
-3% -$554K
MUB icon
24
iShares National Muni Bond ETF
MUB
$45.5B
$13.9M 0.63%
130,108
+79,956
+159% +$8.56M
SCHH icon
25
Schwab US REIT ETF
SCHH
$11.6B
$13.1M 0.59%
627,312
+63,271
+11% +$1.34M
1
2 3 4 5

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Elm Partners Management's Q4 2025 Portfolio in Review

As of Q4 2025, Elm Partners Management held 162 positions worth $2.2B, up 10% from $2B the previous quarter. Its ten largest holdings account for 69% of the portfolio.

Elm Partners Management deployed $172M of net new capital in Q4 2025, opening 13 new positions and adding to 79 existing holdings. Its largest new stake was Vanguard 0-3 Month Treasury Bill ETF: 108,898 shares worth $8.21M.

By sector, the portfolio is most concentrated in Technology at 2.1% of assets, down from 2.4% a quarter earlier, followed by Financials and Healthcare.

On the sell side, the largest reduction was Elm Market Navigator ETF, an estimated $42.8M trimmed.

  • Elm Partners Management's largest Q4 2025 buy was Vanguard 0-3 Month Treasury Bill ETF: 108,898 shares worth $8.21M.
  • Elm Partners Management added most to Schwab US TIPS ETF in Q4 2025, an estimated $42M increase.
  • Elm Partners Management's biggest Q4 2025 reduction was Elm Market Navigator ETF, cutting an estimated $42.8M.
  • Elm Partners Management fully exited State Street Health Care Select Sector SPDR ETF in Q4 2025, selling an estimated $619K.
  • Elm Partners Management's ten largest holdings make up 69% of its $2.2B portfolio in Q4 2025.
  • Elm Partners Management opened 13 new positions and closed 8 in Q4 2025.
  • Elm Partners Management's portfolio value rose 10% quarter-over-quarter to $2.2B.

Based on Elm Partners Management's 13F filing for Q4 2025, filed 10 Feb 2026.