Elm Market Navigator ETF
ELM
8 hedge funds and large institutions have $133M invested in Elm Market Navigator ETF in 2025 Q4 according to their latest regulatory filings, with 3 funds opening new positions, 2 increasing their positions, 2 reducing their positions, and 1 closing their positions.
200% more first-time investments, than exits
New positions opened: 3 | Existing positions closed: 1
33% more funds holding
Funds holding: 6 → 8 (+2)
0% more funds holding in top 10
Funds holding in top 10: 1 → 1 (0)
0% more repeat investments, than reductions
Existing positions increased: 2 | Existing positions reduced: 2
9.63% less ownership
Funds ownership: 36.21% → 26.58% (-9.6%)
22% less capital invested
Capital invested by funds: $170M → $133M (-$36.8M)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TWM
Tanager Wealth Management
Goring On Thames,
United Kingdom
|
+$3.38M |
| 2 |
Jane Street
New York
|
+$1.71M |
| 3 |
FNBSF
First National Bank Sioux Falls
Sioux Falls,
South Dakota
|
+$611K |
| 4 |
AW
Avion Wealth
The Woodlands,
Texas
|
+$55.4K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
EPM
Elm Partners Management
Philadelphia,
Pennsylvania
|
-$42.8M |
| 2 |
Citadel Advisors
Miami,
Florida
|
-$106K |
| 3 |
UBS Group
Zurich,
Switzerland
|
-$3.03K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
EPM
1
Elm Partners Management
Philadelphia,
Pennsylvania
| $123M | -$42.8M | -1,552,255 | -26% |
|
2
HighTower Advisors
Chicago,
Illinois
| $3.96M | – | – | – |
|
|
TWM
3
Tanager Wealth Management
Goring On Thames,
United Kingdom
| $3.34M | +$3.38M | +122,620 | New |
|
|
4
Jane Street
New York
| $1.69M | +$1.71M | +61,998 | New |
|
|
FNBSF
5
First National Bank Sioux Falls
Sioux Falls,
South Dakota
| $878K | +$611K | +22,160 | +220% |
|
|
HA
6
Hegarty Advisors
Garden City,
New York
| $347K | +$351K | +12,735 | New |
|
|
7
Citadel Advisors
Miami,
Florida
| $293K | -$106K | -3,858 | -26% |
|
|
AW
8
Avion Wealth
The Woodlands,
Texas
| $62K | +$55.4K | +2,008 | +715% |
|
|
9
UBS Group
Zurich,
Switzerland
| – | -$3.03K | -111 | Closed |
|
ELM Hedge Fund Activity: Q4 2025 in Review
8 of the 8,239 institutional investors tracked by Wall St. Rank reported a position in Elm Market Navigator ETF (ELM) for Q4 2025, worth a combined $133M — down 22% from $170M a quarter earlier.
Buyers outnumbered sellers: 3 funds opened new ELM positions and 1 closed out — a net gain of 2 holders — while 2 added to existing stakes and 2 trimmed.
The largest buyer was Tanager Wealth Management, opening a new position worth an estimated $3.38M. The largest seller was Elm Partners Management, cutting an estimated $42.8M.
- 8 institutional investors held Elm Market Navigator ETF (ELM) as of Q4 2025, up from 6 in Q3 2025.
- Funds reported $133M of Elm Market Navigator ETF stock for Q4 2025, down 22% quarter-over-quarter.
- 3 funds opened new Elm Market Navigator ETF positions in Q4 2025 and 1 closed out, a net change of +2 holders.
- The largest Elm Market Navigator ETF buyer in Q4 2025 was Tanager Wealth Management, an estimated $3.38M added.
- The largest Elm Market Navigator ETF seller in Q4 2025 was Elm Partners Management, an estimated $42.8M sold.
Based on aggregated 13F filings for Q4 2025.