13F HOLDINGS REPORT

Elm Partners Management LLC

Quarter ended Q4 2025 · Filed February 10, 2026 · Accession 0001172661-26-000562

Total Value

$2.20B

Positions

154

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (154)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	VANGUARD INDEX FDS	922908769	996,018	$333.9M	15.15%
2	VANGUARD INTL EQUITY INDEX F	922042858	4,625,697	$248.7M	11.28%
3	SCHWAB STRATEGIC TR	808524870	7,072,390	$187.3M	8.50%
4	VANGUARD INTL EQUITY INDEX F	922042874	2,196,125	$183.6M	8.33%
5	SERIES PORTFOLIOS TR	81752T429	4,496,630	$122.5M	5.56%
6	VANGUARD INTL EQUITY INDEX F	922042866	1,207,832	$109.2M	4.95%
7	ISHARES INC	46434G103	1,484,000	$99.8M	4.53%
8	VANGUARD SCOTTSDALE FDS	92206C102	1,328,709	$78.0M	3.54%
9	VANGUARD INDEX FDS	922908363	120,434	$75.5M	3.43%
10	VANGUARD BD INDEX FDS	921937835	991,972	$73.5M	3.33%
11	ISHARES TR	46434V738	961,294	$68.2M	3.10%
12	ISHARES TR	464287150	404,268	$60.1M	2.73%
13	ISHARES TR	46436E718	479,084	$48.1M	2.18%
14	ISHARES TR	46429B747	428,603	$43.9M	1.99%
15	SPDR INDEX SHS FDS	78463X509	876,410	$41.0M	1.86%
16	J P MORGAN EXCHANGE TRADED F	46641Q191	556,073	$40.8M	1.85%
17	ISHARES TR	46434V696	489,530	$35.8M	1.63%
18	ISHARES TR	464287226	291,724	$29.1M	1.32%
19	J P MORGAN EXCHANGE TRADED F	46641Q225	295,147	$27.4M	1.25%
20	VANGUARD INDEX FDS	922908744	125,961	$24.1M	1.09%
21	VANGUARD MUN BD FDS	922907746	452,643	$22.8M	1.03%
22	NVIDIA CORPORATION	NVDA	110,132	$20.5M	0.93%
23	VANGUARD INDEX FDS	922908751	74,845	$19.3M	0.88%
24	ISHARES TR	464288414	130,108	$13.9M	0.63%
25	SCHWAB STRATEGIC TR	808524847	627,312	$13.1M	0.59%
26	ISHARES TR	464287200	14,610	$10.0M	0.45%
27	VANGUARD INDEX FDS	922908553	96,023	$8.5M	0.39%
28	VANGUARD INSTL INDEX FD	922040845	108,898	$8.2M	0.37%
29	ISHARES INC	464286509	112,477	$6.1M	0.28%
30	APPLE INC	AAPL	19,832	$5.4M	0.24%
31	DIMENSIONAL ETF TRUST	25434V401	70,637	$5.2M	0.24%
32	VANGUARD WORLD FD	92204A405	37,784	$5.0M	0.23%
33	ISHARES TR	464287663	45,133	$4.6M	0.21%
34	BERKSHIRE HATHAWAY INC DEL	BRK-A	6	$4.5M	0.21%
35	SPDR S&P 500 ETF TR	SPY	6,364	$4.3M	0.20%
36	CROWDSTRIKE HLDGS INC	CRWD	9,094	$4.3M	0.19%
37	ELI LILLY & CO	LLY	3,837	$4.1M	0.19%
38	SELECT SECTOR SPDR TR	81369Y803	27,373	$3.9M	0.18%
39	SCHWAB STRATEGIC TR	808524805	163,644	$3.9M	0.18%
40	VANGUARD WORLD FD	92204A702	5,170	$3.9M	0.18%
41	COHERENT CORP	COHR	19,998	$3.7M	0.17%
42	VANGUARD TAX-MANAGED FDS	921943858	59,046	$3.7M	0.17%
43	SPDR SERIES TRUST	78464A854	42,976	$3.4M	0.16%
44	BROOKFIELD CORP	11271J107	69,811	$3.2M	0.15%
45	INTERNATIONAL BUSINESS MACHS	INTR	10,778	$3.2M	0.14%
46	SELECT SECTOR SPDR TR	81369Y605	57,384	$3.1M	0.14%
47	VERTIV HOLDINGS CO	VRT	19,053	$3.1M	0.14%
48	VANGUARD WORLD FD	92204A108	7,496	$3.0M	0.13%
49	VANGUARD WORLD FD	92204A504	10,005	$2.9M	0.13%
50	SCHWAB STRATEGIC TR	808524102	106,827	$2.8M	0.13%
51	MICROSOFT CORP	MSFT	5,331	$2.6M	0.12%
52	ISHARES TR	464287804	21,045	$2.5M	0.11%
53	VANGUARD WORLD FD	92204A884	12,864	$2.5M	0.11%
54	ALPHABET INC	GOOG	7,361	$2.3M	0.10%
55	VANGUARD WORLD FD	92204A603	6,882	$2.1M	0.09%
56	RTX CORPORATION	RTX	9,347	$1.7M	0.08%
57	ADVANCED MICRO DEVICES INC	AMD	7,998	$1.7M	0.08%
58	ISHARES TR	464287408	7,791	$1.7M	0.07%
59	ALPHABET INC	GOOG	4,977	$1.6M	0.07%
60	FRANKLIN TEMPLETON ETF TR	FGDL	30,762	$1.5M	0.07%
61	VANGUARD STAR FDS	921909768	18,391	$1.4M	0.06%
62	JPMORGAN CHASE & CO.	VYLD	4,114	$1.3M	0.06%
63	BROADCOM INC	AVGO	3,600	$1.2M	0.06%
64	LAM RESEARCH CORP	LRCX	7,250	$1.2M	0.06%
65	SELECT SECTOR SPDR TR	81369Y704	7,789	$1.2M	0.05%
66	VANGUARD INDEX FDS	922908736	2,414	$1.2M	0.05%
67	ISHARES TR	46432F842	12,848	$1.1M	0.05%
68	DUKE ENERGY CORP NEW	DUKB	9,254	$1.1M	0.05%
69	GRAYSCALE BITCOIN MINI TR ET	389930207	27,600	$1.1M	0.05%
70	BERKSHIRE HATHAWAY INC DEL	BRK-A	2,110	$1.1M	0.05%
71	ABBVIE INC	ABBV	4,585	$1.0M	0.05%
72	SCHWAB STRATEGIC TR	808524607	35,815	$1.0M	0.05%
73	AMAZON COM INC	AMZN	4,399	$1.0M	0.05%
74	COSTCO WHSL CORP NEW	22160K105	1,154	$995,143	0.05%
75	VANGUARD SPECIALIZED FUNDS	921908844	4,521	$993,595	0.05%
76	NETFLIX INC	NFLX	9,763	$915,425	0.04%
77	META PLATFORMS INC	META	1,319	$870,385	0.04%
78	ISHARES TR	464287614	1,689	$799,508	0.04%
79	ALNYLAM PHARMACEUTICALS INC	ALNY	2,008	$798,481	0.04%
80	DOMINION ENERGY INC	D	13,078	$766,240	0.03%
81	MARKEL GROUP INC	MKL	349	$750,228	0.03%
82	VANGUARD INDEX FDS	922908611	3,471	$735,206	0.03%
83	ISHARES TR	464287671	4,148	$696,582	0.03%
84	ISHARES TR	464287655	2,772	$682,356	0.03%
85	ISHARES TR	464287101	1,989	$682,167	0.03%
86	EXXON MOBIL CORP	XOM	5,644	$679,165	0.03%
87	VANGUARD INTL EQUITY INDEX F	922042775	9,162	$673,987	0.03%
88	VANGUARD INDEX FDS	922908512	3,584	$635,736	0.03%
89	SPDR SERIES TRUST	78468R663	6,683	$610,672	0.03%
90	ORACLE CORP	ORCL-PD	2,892	$563,742	0.03%
91	ISHARES TR	464287176	5,116	$562,294	0.03%
92	BANK AMERICA CORP	060505104	10,162	$558,910	0.03%
93	SEMPRA	SREA	6,153	$543,248	0.02%
94	ISHARES TR	464287309	4,406	$543,074	0.02%
95	SCHWAB STRATEGIC TR	808524409	17,881	$529,462	0.02%
96	PROLOGIS INC.	PLDGP	4,028	$514,214	0.02%
97	TAIWAN SEMICONDUCTOR MFG LTD	874039100	1,614	$490,478	0.02%
98	ISHARES GOLD TR	IAU	5,914	$480,039	0.02%
99	VISA INC	V	1,307	$458,439	0.02%
100	DLOCAL LTD	DLO	32,000	$452,480	0.02%
101	VISTRA CORP	VST	2,801	$451,952	0.02%
102	MERCADOLIBRE INC	MELI	224	$451,194	0.02%
103	WALMART INC	WMT	4,032	$449,230	0.02%
104	EATON CORP PLC	ETN	1,333	$424,574	0.02%
105	OREILLY AUTOMOTIVE INC	67103H107	4,605	$420,022	0.02%
106	PROCTER AND GAMBLE CO	742718109	2,910	$417,039	0.02%
107	CATERPILLAR INC	CAT	723	$414,238	0.02%
108	ISHARES TR	464287630	2,276	$412,434	0.02%
109	ISHARES TR	464287598	1,782	$375,008	0.02%
110	LINDE PLC	LIN	871	$371,391	0.02%
111	SELECT SECTOR SPDR TR	81369Y407	3,078	$367,544	0.02%
112	ASML HOLDING N V	ASMLF	341	$363,165	0.02%
113	MASTERCARD INCORPORATED	MA	620	$354,142	0.02%
114	VANGUARD WORLD FD	92204A207	1,614	$340,941	0.02%
115	SELECT SECTOR SPDR TR	81369Y886	7,932	$338,617	0.02%
116	SPDR GOLD TR	GLD	838	$332,504	0.02%
117	MERCK & CO INC	MRK	3,108	$327,154	0.01%
118	VANGUARD WHITEHALL FDS	921946885	4,754	$320,630	0.01%
119	BLUE OWL TECHNOLOGY FIN CORP	OTF	21,985	$319,662	0.01%
120	GILEAD SCIENCES INC	GILD	2,576	$316,185	0.01%
121	LOWES COS INC	548661107	1,304	$314,476	0.01%
122	GOLDMAN SACHS GROUP INC	GSCE	356	$312,936	0.01%
123	ISHARES TR	464287606	3,215	$311,555	0.01%
124	PALANTIR TECHNOLOGIES INC	PLTR	1,716	$305,019	0.01%
125	AMPHENOL CORP NEW	032095101	2,252	$304,335	0.01%
126	INVESCO QQQ TR	IVZ	490	$301,084	0.01%
127	DISNEY WALT CO	254687106	2,567	$292,161	0.01%
128	THERMO FISHER SCIENTIFIC INC	TMO	500	$290,035	0.01%
129	LOCKHEED MARTIN CORP	LMT	599	$289,718	0.01%
130	SELECT SECTOR SPDR TR	81369Y308	3,698	$287,261	0.01%
131	VALERO ENERGY CORP	VLO	1,689	$274,952	0.01%
132	ISHARES TR	464287473	1,946	$274,502	0.01%
133	NOVO-NORDISK A S	NONOF	5,330	$272,097	0.01%
134	MCDONALDS CORP	MCD	885	$270,488	0.01%
135	LEMONADE INC	LMND	3,800	$270,484	0.01%
136	SPDR SERIES TRUST	78464A508	4,710	$267,575	0.01%
137	SELECT SECTOR SPDR TR	81369Y852	2,220	$261,338	0.01%
138	SCHWAB STRATEGIC TR	808524201	9,706	$261,191	0.01%
139	VANGUARD SCOTTSDALE FDS	92206C409	3,255	$259,521	0.01%
140	ISHARES TR	464287648	768	$248,072	0.01%
141	PHILIP MORRIS INTL INC	718172109	1,501	$240,760	0.01%
142	VERTEX PHARMACEUTICALS INC	VRTX	531	$240,734	0.01%
143	DEERE & CO	DE	515	$239,773	0.01%
144	MICRON TECHNOLOGY INC	MU	840	$239,744	0.01%
145	JOHNSON & JOHNSON	JNJ	1,147	$237,578	0.01%
146	NEXTERA ENERGY INC	NEE-PW	2,933	$235,461	0.01%
147	VANGUARD WORLD FD	92204A801	1,120	$232,456	0.01%
148	SEAGATE TECHNOLOGY HLDNGS PL	SE	828	$228,023	0.01%
149	ELEVANCE HEALTH INC FORMERLY	ELV	637	$223,300	0.01%
150	ISHARES SILVER TR	SLV	3,427	$220,767	0.01%
151	ISHARES TR	464287705	1,645	$216,503	0.01%
152	TESLA INC	TSLA	461	$207,321	0.01%
153	GLOBAL X FDS	37954Y871	4,687	$200,276	0.01%
154	BANCO SANTANDER SA	BCDRF	16,760	$196,595	0.01%