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VOL. XII · NO. 117Established MMXIV · George Town, Grand CaymanAtlantic Edition · $4.50

The Cayman Journal

Finance · Business · Technology · Caribbean & Global Affairs
13F HOLDINGS REPORT

Elm Partners Management LLC

Quarter ended Q3 2025 · Filed November 4, 2025 · Accession 0001172661-25-004578

Total Value
$2.00B
Positions
149
Other Managers
0
Confidential Omitted
No
View on SEC.gov

Holdings (149)

#IssuerTicker / CUSIPSharesValue% of Filing
1VANGUARD INDEX FDS922908769941,228$308.9M15.43%
2VANGUARD INTL EQUITY INDEX F9220428584,100,547$222.2M11.10%
3SERIES PORTFOLIOS TR81752T4296,048,885$165.3M8.26%
4VANGUARD INTL EQUITY INDEX F9220428741,890,674$150.9M7.54%
5SCHWAB STRATEGIC TR8085248705,506,675$148.4M7.41%
6ISHARES INC46434G1031,501,164$99.0M4.94%
7VANGUARD INTL EQUITY INDEX F9220428661,125,155$98.8M4.94%
8ISHARES TR46436E718805,218$81.1M4.05%
9ISHARES TR46434V7381,044,161$71.1M3.55%
10ISHARES TR464287150410,381$59.8M2.99%
11VANGUARD INDEX FDS92290836390,620$55.5M2.77%
12VANGUARD SCOTTSDALE FDS92206C102840,034$49.4M2.47%
13ISHARES TR46429B747443,839$45.9M2.29%
14VANGUARD BD INDEX FDS921937835570,315$42.4M2.12%
15J P MORGAN EXCHANGE TRADED F46641Q191500,790$34.9M1.74%
16ISHARES TR46434V696473,347$34.8M1.74%
17SPDR INDEX SHS FDS78463X509709,547$33.2M1.66%
18NVIDIA CORPORATIONNVDA132,503$24.7M1.24%
19J P MORGAN EXCHANGE TRADED F46641Q225275,880$24.1M1.20%
20VANGUARD INDEX FDS922908744114,943$21.4M1.07%
21VANGUARD INDEX FDS92290875177,009$19.6M0.98%
22ISHARES TR464287226181,911$18.2M0.91%
23SCHWAB STRATEGIC TR808524847564,041$12.2M0.61%
24ISHARES TR46428720014,700$9.8M0.49%
25VANGUARD MUN BD FDS922907746134,823$6.8M0.34%
26APPLE INCAAPL24,783$6.3M0.32%
27VANGUARD INDEX FDS92290855366,243$6.1M0.30%
28ISHARES INC464286509115,833$5.9M0.29%
29MICRON TECHNOLOGY INCMU33,000$5.5M0.28%
30ISHARES TR46428841450,152$5.3M0.27%
31DIMENSIONAL ETF TRUST25434V40170,637$5.1M0.26%
32SPDR S&P 500 ETF TRSPY7,063$4.7M0.24%
33BERKSHIRE HATHAWAY INC DELBRK-A6$4.5M0.23%
34ISHARES TR46428766345,162$4.5M0.23%
35CROWDSTRIKE HLDGS INCCRWD9,094$4.5M0.22%
36ISHARES TR4642876147,849$3.7M0.18%
37SCHWAB STRATEGIC TR808524805154,882$3.6M0.18%
38VANGUARD WORLD FD92204A7024,720$3.5M0.18%
39SELECT SECTOR SPDR TR81369Y80311,417$3.2M0.16%
40VANGUARD TAX-MANAGED FDS92194385852,366$3.1M0.16%
41SPDR SERIES TRUST78464A85439,098$3.1M0.15%
42ELI LILLY & COLLY3,901$3.0M0.15%
43INTERNATIONAL BUSINESS MACHSINTR10,375$2.9M0.15%
44VERTIV HOLDINGS COVRT19,053$2.9M0.14%
45ADVANCED MICRO DEVICES INCAMD17,500$2.8M0.14%
46MICROSOFT CORPMSFT5,295$2.7M0.14%
47VANGUARD WORLD FD92204A40520,825$2.7M0.14%
48VANGUARD WORLD FD92204A1086,678$2.6M0.13%
49SCHWAB STRATEGIC TR80852410294,412$2.4M0.12%
50ISHARES TR46428780420,289$2.4M0.12%
51COHERENT CORPCOHR20,000$2.2M0.11%
52COHERENT CORPCOHR19,998$2.2M0.11%
53NETFLIX INCNFLX1,783$2.1M0.11%
54BROOKFIELD CORP11271J10746,541$2.1M0.11%
55VANGUARD WORLD FD92204A88410,756$2.0M0.10%
56ALPHABET INCGOOG7,487$1.8M0.09%
57AMAZON COM INCAMZN7,246$1.6M0.08%
58ISHARES TR4642874087,697$1.6M0.08%
59RTX CORPORATIONRTX9,299$1.6M0.08%
60SELECT SECTOR SPDR TR81369Y60528,739$1.5M0.08%
61VANGUARD WORLD FD92204A6034,909$1.5M0.07%
62FRANKLIN TEMPLETON ETF TRFGDL30,759$1.4M0.07%
63VANGUARD WORLD FD92204A5045,217$1.4M0.07%
64VANGUARD STAR FDS92190976818,348$1.3M0.07%
65ADVANCED MICRO DEVICES INCAMD7,702$1.2M0.06%
66JPMORGAN CHASE & CO.VYLD3,910$1.2M0.06%
67BROADCOM INCAVGO3,631$1.2M0.06%
68DUKE ENERGY CORP NEWDUKB9,171$1.1M0.06%
69ISHARES TR46432F84212,794$1.1M0.06%
70ABBVIE INCABBV4,546$1.1M0.05%
71SELECT SECTOR SPDR TR81369Y7046,823$1.1M0.05%
72META PLATFORMS INCMETA1,328$974,9490.05%
73VANGUARD INDEX FDS9229086114,622$964,6360.05%
74COSTCO WHSL CORP NEW22160K1051,039$961,7310.05%
75BERKSHIRE HATHAWAY INC DELBRK-A1,809$909,6200.05%
76SCHWAB STRATEGIC TR80852460732,403$904,0400.05%
77VANGUARD INDEX FDS9229087361,703$816,9350.04%
78ORACLE CORPORCL-PD2,892$813,4350.04%
79DOMINION ENERGY INCD13,078$799,9810.04%
80SELECT SECTOR SPDR TR81369Y8526,607$782,0710.04%
81VANGUARD SPECIALIZED FUNDS9219088443,589$774,4690.04%
82TESLA INCTSLA1,669$742,2380.04%
83ISHARES TR4642876714,175$686,9220.03%
84LAM RESEARCH CORPLRCX5,010$670,8390.03%
85ISHARES TR4642871011,989$662,0190.03%
86SPDR SERIES TRUST78468R6636,992$641,4950.03%
87VANGUARD INDEX FDS9229085123,583$625,4560.03%
88SELECT SECTOR SPDR TR81369Y2094,446$618,7500.03%
89EXXON MOBIL CORPXOM5,488$618,7330.03%
90MARKEL GROUP INCMKL299$571,4970.03%
91SEMPRASREA6,342$570,6530.03%
92ISHARES TR4642876481,738$556,2300.03%
93VISTRA CORPVST2,801$548,8530.03%
94ISHARES TR4642876552,258$546,3460.03%
95ISHARES TR4642873094,401$531,3120.03%
96EATON CORP PLCETN1,332$498,5010.02%
97OREILLY AUTOMOTIVE INC67103H1074,605$496,4650.02%
98BANK AMERICA CORP0605051048,935$460,9570.02%
99PROCTER AND GAMBLE CO7427181092,956$454,1970.02%
100VISA INCV1,307$446,2430.02%
101TAIWAN SEMICONDUCTOR MFG LTD8740391001,525$425,9170.02%
102LINDE PLCLIN871$413,7290.02%
103ISHARES TR4642876302,276$402,4200.02%
104VANGUARD WORLD FD92204A2071,855$396,4690.02%
105VANGUARD INTL EQUITY INDEX F9220427755,526$394,4270.02%
106WALMART INCWMT3,782$389,7960.02%
107SELECT SECTOR SPDR TR81369Y4071,539$368,8060.02%
108ISHARES TR4642875981,779$362,3310.02%
109SCHWAB STRATEGIC TR80852440912,215$355,6080.02%
110VANGUARD CHARLOTTE FDS92203J4077,187$355,4780.02%
111ISHARES TR4642871763,166$352,2270.02%
112SELECT SECTOR SPDR TR81369Y8863,966$345,8750.02%
113LOWES COS INC5486611071,329$333,9940.02%
114ASML HOLDING N VASMLF341$330,7460.02%
115CATERPILLAR INCCAT693$330,7070.02%
116VANGUARD WORLD FD92204A8011,578$323,2690.02%
117VANGUARD WORLD FD92204A3062,535$319,0550.02%
118VANGUARD WHITEHALL FDS9219468854,754$318,1100.02%
119ISHARES GOLD TRIAU4,314$313,9300.02%
120MASTERCARD INCORPORATEDMA550$313,0390.02%
121ISHARES TR4642876063,209$307,7120.02%
122LOCKHEED MARTIN CORPLMT610$304,5180.02%
123NOVO-NORDISK A SNONOF5,330$293,6300.01%
124GILEAD SCIENCES INCGILD2,573$285,6080.01%
125AMPHENOL CORP NEW0320951012,252$278,6850.01%
126VALERO ENERGY CORPVLO1,620$275,8210.01%
127GOLDMAN SACHS GROUP INCGSCE344$273,9520.01%
128ISHARES TR46435G24310,819$273,8290.01%
129ISHARES TR4642874731,946$271,8170.01%
130SCHWAB STRATEGIC TR80852420110,257$270,1860.01%
131MCDONALDS CORPMCD885$268,9460.01%
132INVESCO QQQ TRIVZ441$265,1170.01%
133VANGUARD SCOTTSDALE FDS92206C4093,255$260,1720.01%
134SPDR SERIES TRUST78464A5084,674$258,6120.01%
135PALANTIR TECHNOLOGIES INCPLTR1,341$244,6250.01%
136PHILIP MORRIS INTL INC7181721091,501$243,4620.01%
137THERMO FISHER SCIENTIFIC INCTMO500$242,7700.01%
138DISNEY WALT CO2546871062,103$240,7940.01%
139GLOBAL X FDS37954Y8714,687$223,4290.01%
140SPDR GOLD TRGLD603$214,7040.01%
141ISHARES TR4642877051,635$212,1220.01%
142NEXTERA ENERGY INCNEE-PW2,754$207,8990.01%
143VERTEX PHARMACEUTICALS INCVRTX530$207,5690.01%
144ELEVANCE HEALTH INC FORMERLYELV637$205,8270.01%
145DEERE & CODE448$204,8550.01%
146EBAY INC.EBAY2,246$204,2740.01%
147LEMONADE INCLMND3,800$203,4140.01%
148BANCO SANTANDER S.A.BCDRF16,760$175,6450.01%
149BLUE OWL TECHNOLOGY FIN CORPOTF10,415$143,9350.01%