13F HOLDINGS REPORT

Kelman-Lazarov, Inc.

Quarter ended Q2 2025 · Filed July 29, 2025 · Accession 0001398344-25-014039

Total Value

$617.2M

Positions

122

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (122)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	SCHWAB STRATEGIC TR	808524771	2,334,201	$57.3M	9.28%
2	SCHWAB STRATEGIC TR	808524300	1,867,657	$54.6M	8.84%
3	VANECK ETF TRUST	92189F643	547,529	$51.4M	8.32%
4	GOLDMAN SACHS ETF TR	NVGLF	957,305	$38.0M	6.15%
5	GOLDMAN SACHS ETF TR	NVGLF	233,364	$28.3M	4.59%
6	ISHARES TR	46429B747	266,709	$27.4M	4.45%
7	SPDR SERIES TRUST	78464A854	369,916	$26.9M	4.36%
8	SCHWAB STRATEGIC TR	808524201	1,046,726	$25.6M	4.14%
9	ISHARES TR	464287804	202,401	$22.1M	3.58%
10	PIMCO ETF TR	72201R775	239,862	$22.1M	3.58%
11	ISHARES TR	464288588	213,084	$20.0M	3.24%
12	SCHWAB STRATEGIC TR	808524748	475,762	$20.0M	3.24%
13	SCHWAB STRATEGIC TR	808524730	603,420	$19.9M	3.23%
14	VANGUARD BD INDEX FDS	921937827	242,904	$19.1M	3.10%
15	ISHARES TR	464287507	262,276	$16.3M	2.64%
16	BERKSHIRE HATHAWAY INC DEL	BRK-A	31,158	$15.1M	2.45%
17	2023 ETF SERIES TRUST II	90139K100	368,729	$12.6M	2.05%
18	PIMCO ETF TR	72201R585	470,822	$12.5M	2.02%
19	SCHWAB STRATEGIC TR	808524805	400,453	$8.9M	1.43%
20	PIMCO ETF TR	72201R205	131,359	$7.1M	1.15%
21	PIMCO ETF TR	72201R874	119,464	$6.0M	0.97%
22	AMERICAN CENTY ETF TR	025072703	72,185	$5.3M	0.87%
23	AMERICAN CENTY ETF TR	025072604	72,310	$5.0M	0.80%
24	VANGUARD MUN BD FDS	922907746	84,555	$4.1M	0.67%
25	PIMCO ETF TR	72201R866	78,972	$4.1M	0.66%
26	VANGUARD INDEX FDS	922908736	9,035	$4.0M	0.64%
27	SPDR S&P 500 ETF TR	SPY	5,729	$3.5M	0.57%
28	INVESCO EXCH TRADED FD TR II	IVZ	33,123	$3.5M	0.56%
29	VANGUARD BD INDEX FDS	921937819	43,053	$3.3M	0.54%
30	AMERICAN CENTY ETF TR	025072190	49,201	$3.1M	0.50%
31	ISHARES TR	46429B333	56,922	$2.5M	0.41%
32	APPLE INC	AAPL	11,368	$2.3M	0.38%
33	ALPHABET INC	GOOG	13,164	$2.3M	0.38%
34	MASTERCARD INCORPORATED	MA	4,026	$2.3M	0.37%
35	TESLA INC	TSLA	6,811	$2.2M	0.35%
36	SCHWAB STRATEGIC TR	808524763	69,024	$2.0M	0.32%
37	SPDR S&P MIDCAP 400 ETF TR	MDY	3,057	$1.7M	0.28%
38	MICROSOFT CORP	MSFT	3,393	$1.7M	0.27%
39	PGIM ETF TR	69344A800	39,949	$1.7M	0.27%
40	SCHWAB STRATEGIC TR	808524607	63,901	$1.6M	0.26%
41	ISHARES TR	464287200	2,585	$1.6M	0.26%
42	SPDR SERIES TRUST	78464A847	29,407	$1.6M	0.26%
43	NETFLIX INC	NFLX	1,162	$1.6M	0.25%
44	VANGUARD SPECIALIZED FUNDS	921908844	7,602	$1.6M	0.25%
45	BERKSHIRE HATHAWAY INC DEL	BRK-A	2	$1.5M	0.24%
46	SCHWAB STRATEGIC TR	808524508	50,680	$1.4M	0.23%
47	VANGUARD INDEX FDS	922908744	7,920	$1.4M	0.23%
48	VANGUARD SCOTTSDALE FDS	92206C409	17,448	$1.4M	0.22%
49	ISHARES TR	464287846	8,890	$1.3M	0.22%
50	VANGUARD MUN BD FDS	922907712	17,301	$1.3M	0.21%
51	VANGUARD INDEX FDS	922908637	4,312	$1.2M	0.20%
52	VANGUARD INDEX FDS	922908363	2,147	$1.2M	0.20%
53	YUM BRANDS INC	YUM	7,723	$1.1M	0.19%
54	WALMART INC	WMT	11,449	$1.1M	0.18%
55	SPDR DOW JONES INDL AVERAGE	78467X109	2,442	$1.1M	0.17%
56	ISHARES TR	464287614	2,436	$1.0M	0.17%
57	VANGUARD INDEX FDS	922908629	3,293	$921,361	0.15%
58	PROCTER AND GAMBLE CO	742718109	5,370	$855,539	0.14%
59	NVIDIA CORPORATION	NVDA	5,288	$835,420	0.14%
60	ISHARES TR	464287598	4,048	$786,249	0.13%
61	AMERICAN CENTY ETF TR	025072281	10,838	$743,505	0.12%
62	NORFOLK SOUTHN CORP	655844108	2,842	$727,519	0.12%
63	WISDOMTREE TR	WT	6,432	$727,221	0.12%
64	FEDEX CORP	FDX	3,194	$726,093	0.12%
65	SPDR SERIES TRUST	78464A649	27,797	$711,599	0.12%
66	ISHARES TR	46432F842	8,249	$688,627	0.11%
67	GOLDMAN SACHS ETF TR	NVGLF	6,853	$686,305	0.11%
68	ALPHABET INC	GOOG	3,807	$675,361	0.11%
69	NUSHARES ETF TR	NU	30,060	$669,130	0.11%
70	ISHARES TR	464287408	3,418	$667,960	0.11%
71	SCHWAB STRATEGIC TR	808524755	16,159	$646,675	0.10%
72	AMAZON COM INC	AMZN	2,947	$646,572	0.10%
73	VANECK ETF TRUST	92189Y105	20,436	$566,374	0.09%
74	GOLDMAN SACHS ETF TR	NVGLF	15,178	$564,773	0.09%
75	ISHARES TR	464287622	1,646	$558,995	0.09%
76	PHILIP MORRIS INTL INC	718172109	3,029	$551,625	0.09%
77	SCHWAB STRATEGIC TR	808524839	22,094	$513,459	0.08%
78	AMERICAN EXPRESS CO	AXP	1,588	$506,588	0.08%
79	SPDR SERIES TRUST	78464A805	6,161	$461,375	0.07%
80	DISNEY WALT CO	254687106	3,682	$456,605	0.07%
81	ISHARES TR	464287556	3,521	$445,416	0.07%
82	JOHNSON & JOHNSON	JNJ	2,890	$441,505	0.07%
83	HOME DEPOT INC	HD	1,199	$439,529	0.07%
84	VANGUARD MUN BD FDS	922907696	5,681	$430,080	0.07%
85	SCHWAB STRATEGIC TR	808524409	15,345	$424,591	0.07%
86	ISHARES TR	46435G516	4,563	$407,097	0.07%
87	TRACTOR SUPPLY CO	TSCO	7,530	$397,358	0.06%
88	ISHARES TR	464287655	1,815	$391,659	0.06%
89	NUSHARES ETF TR	NU	3,912	$367,532	0.06%
90	JPMORGAN CHASE & CO.	VYLD	1,257	$364,469	0.06%
91	AMERICAN CENTY ETF TR	025072349	5,243	$357,625	0.06%
92	SPDR SERIES TRUST	78464A409	3,659	$348,776	0.06%
93	ISHARES TR	464288802	2,723	$345,145	0.06%
94	AMGEN INC	AMGN	1,223	$341,578	0.06%
95	PIMCO ETF TR	72201R635	7,630	$337,481	0.05%
96	ISHARES TR	46432F859	6,851	$333,320	0.05%
97	UNITEDHEALTH GROUP INC	UNH	1,049	$327,193	0.05%
98	WISDOMTREE TR	WT	3,968	$325,924	0.05%
99	ISHARES TR	46432F396	1,302	$312,897	0.05%
100	ISHARES TR	464287119	2,963	$287,148	0.05%
101	AMERICAN CENTY ETF TR	025072299	4,235	$286,087	0.05%
102	NUSHARES ETF TR	NU	6,822	$285,944	0.05%
103	QUALCOMM INC	QCOM	1,784	$284,118	0.05%
104	AMERICAN CENTY ETF TR	025072315	4,743	$278,086	0.05%
105	LAUDER ESTEE COS INC	518439104	3,368	$272,105	0.04%
106	BOEING CO	BA-PA	1,292	$270,713	0.04%
107	INVESCO EXCHANGE TRADED FD T	IVZ	4,819	$251,081	0.04%
108	ORACLE CORP	ORCL-PD	1,144	$250,014	0.04%
109	INVESCO EXCHANGE TRADED FD T	IVZ	1,984	$245,228	0.04%
110	ISHARES TR	464287671	1,593	$239,512	0.04%
111	LOWES COS INC	548661107	1,050	$232,855	0.04%
112	MCCORMICK & CO INC	MKC-V	3,001	$227,545	0.04%
113	PEPSICO INC	PEP	1,717	$226,691	0.04%
114	AUTOZONE INC	AZO	61	$226,446	0.04%
115	EXXON MOBIL CORP	XOM	2,088	$225,046	0.04%
116	MERCK & CO INC	MRK	2,767	$219,036	0.04%
117	ISHARES TR	46429B697	2,301	$215,995	0.03%
118	BROADCOM INC	AVGO	756	$208,391	0.03%
119	3M CO	MMM	1,361	$207,199	0.03%
120	NUSHARES ETF TR	NU	4,995	$203,496	0.03%
121	COCA COLA CO	KO	2,872	$203,200	0.03%
122	VISA INC	V	565	$200,681	0.03%