13F HOLDINGS REPORT

Kelman-Lazarov, Inc.

Quarter ended Q4 2025 · Filed January 26, 2026 · Accession 0001398344-26-001181

Total Value

$700.3M

Positions

134

Other Managers

Confidential Omitted

View on SEC.gov

Holdings (134)

#	Issuer	Ticker / CUSIP	Shares	Value	% of Filing
1	SCHWAB STRATEGIC TR	808524771	2,356,429	$64.1M	9.16%
2	SCHWAB STRATEGIC TR	808524300	1,834,823	$59.9M	8.55%
3	VANECK ETF TRUST	92189F643	556,020	$57.6M	8.22%
4	SPDR SERIES TRUST	78464A854	409,641	$32.9M	4.69%
5	ISHARES TR	46429B747	303,015	$31.0M	4.43%
6	GOLDMAN SACHS ETF TR	NVGLF	213,417	$28.3M	4.03%
7	SCHWAB STRATEGIC TR	808524201	1,019,736	$27.4M	3.92%
8	AMERICAN CENTY ETF TR	025072703	326,357	$26.9M	3.84%
9	ISHARES TR	464287804	209,258	$25.1M	3.59%
10	PIMCO ETF TR	72201R775	260,274	$24.2M	3.46%
11	ISHARES TR	464288588	244,345	$23.3M	3.32%
12	SCHWAB STRATEGIC TR	808524730	607,762	$21.9M	3.13%
13	SCHWAB STRATEGIC TR	808524748	475,257	$21.2M	3.02%
14	VANGUARD BD INDEX FDS	921937827	266,401	$21.0M	3.00%
15	GOLDMAN SACHS ETF TR	NVGLF	468,352	$20.1M	2.87%
16	ISHARES TR	464287507	272,798	$18.0M	2.57%
17	BERKSHIRE HATHAWAY INC DEL	BRK-A	32,258	$16.2M	2.32%
18	GMO ETF TRUST	90139K100	365,857	$14.1M	2.01%
19	PIMCO ETF TR	72201R585	503,900	$13.4M	1.92%
20	SCHWAB STRATEGIC TR	808524805	398,594	$9.6M	1.37%
21	VANGUARD INDEX FDS	922908736	16,045	$7.8M	1.12%
22	PIMCO ETF TR	72201R205	135,060	$7.2M	1.03%
23	PIMCO ETF TR	72201R874	138,186	$7.0M	1.00%
24	AMERICAN CENTY ETF TR	025072604	70,326	$5.4M	0.77%
25	PIMCO ETF TR	72201R866	81,905	$4.3M	0.61%
26	ALPHABET INC	GOOG	13,288	$4.2M	0.59%
27	SPDR S&P 500 ETF TR	SPY	5,999	$4.1M	0.58%
28	VANGUARD MUN BD FDS	922907746	80,253	$4.0M	0.58%
29	INVESCO EXCH TRADED FD TR II	IVZ	32,654	$3.7M	0.53%
30	VANGUARD INDEX FDS	922908637	11,767	$3.7M	0.53%
31	APPLE INC	AAPL	13,092	$3.6M	0.51%
32	AMERICAN CENTY ETF TR	025072190	49,472	$3.5M	0.49%
33	VANGUARD BD INDEX FDS	921937819	42,537	$3.3M	0.47%
34	VANGUARD MUN BD FDS	922907712	41,252	$3.1M	0.45%
35	VANGUARD INDEX FDS	922908744	15,535	$3.0M	0.42%
36	PGIM ETF TR	69344A800	65,143	$2.7M	0.39%
37	MICROSOFT CORP	MSFT	5,058	$2.4M	0.35%
38	MASTERCARD INCORPORATED	MA	4,046	$2.3M	0.33%
39	SCHWAB STRATEGIC TR	808524763	69,405	$2.2M	0.31%
40	SPDR S&P MIDCAP 400 ETF TR	MDY	3,090	$1.9M	0.27%
41	SCHWAB STRATEGIC TR	808524607	64,558	$1.8M	0.26%
42	VANGUARD INDEX FDS	922908363	2,868	$1.8M	0.26%
43	ISHARES TR	464287200	2,596	$1.8M	0.25%
44	SPDR SERIES TRUST	78464A847	29,376	$1.7M	0.24%
45	VANGUARD SPECIALIZED FUNDS	921908844	7,614	$1.7M	0.24%
46	ISHARES TR	46429B333	36,184	$1.6M	0.23%
47	SCHWAB STRATEGIC TR	808524508	52,267	$1.6M	0.22%
48	BERKSHIRE HATHAWAY INC DEL	BRK-A	2	$1.5M	0.22%
49	AMERICAN CENTY ETF TR	025072281	19,537	$1.5M	0.21%
50	ISHARES TR	464287846	8,871	$1.5M	0.21%
51	1ST SOURCE CORP	SRCE	23,406	$1.5M	0.21%
52	WALMART INC	WMT	12,304	$1.4M	0.20%
53	SPDR DOW JONES INDL AVERAGE	78467X109	2,777	$1.3M	0.19%
54	VANGUARD SCOTTSDALE FDS	92206C409	16,672	$1.3M	0.19%
55	SPDR SERIES TRUST	78464A649	47,390	$1.2M	0.17%
56	ALPHABET INC	GOOG	3,882	$1.2M	0.17%
57	ISHARES TR	464287614	2,367	$1.1M	0.16%
58	NETFLIX INC	NFLX	11,163	$1.0M	0.15%
59	FEDEX CORP	FDX	3,582	$1.0M	0.15%
60	SPDR INDEX SHS FDS	78463X889	22,584	$1.0M	0.14%
61	VANGUARD INDEX FDS	922908629	3,301	$958,143	0.14%
62	AMERICAN CENTY ETF TR	025072349	12,571	$952,505	0.14%
63	YUM BRANDS INC	YUM	6,200	$937,984	0.13%
64	ISHARES TR	464287622	2,403	$897,376	0.13%
65	ISHARES TR	464287499	9,264	$891,845	0.13%
66	TESLA INC	TSLA	1,935	$870,208	0.12%
67	ISHARES TR	464287598	4,050	$851,926	0.12%
68	ISHARES TR	46432F842	9,498	$849,691	0.12%
69	AMAZON COM INC	AMZN	3,550	$819,411	0.12%
70	NORFOLK SOUTHN CORP	655844108	2,829	$816,820	0.12%
71	PROCTER AND GAMBLE CO	742718109	5,677	$813,510	0.12%
72	NVIDIA CORPORATION	NVDA	4,335	$808,478	0.12%
73	VANGUARD MUN BD FDS	922907696	10,254	$783,905	0.11%
74	PIMCO ETF TR	72201R635	16,697	$756,708	0.11%
75	WISDOMTREE TR	WT	6,420	$738,115	0.11%
76	AMERICAN CENTY ETF TR	025072802	7,748	$728,080	0.10%
77	SCHWAB STRATEGIC TR	808524755	16,102	$727,992	0.10%
78	ISHARES TR	464287408	3,419	$725,072	0.10%
79	NUSHARES ETF TR	NU	30,429	$680,240	0.10%
80	JOHNSON & JOHNSON	JNJ	3,283	$679,505	0.10%
81	INVESCO QQQ TR	IVZ	1,088	$668,227	0.10%
82	BROADCOM INC	AVGO	1,901	$657,936	0.09%
83	AMERICAN EXPRESS CO	AXP	1,750	$647,413	0.09%
84	VANGUARD INDEX FDS	922908751	2,383	$614,695	0.09%
85	ISHARES TR	464288885	5,295	$603,206	0.09%
86	ISHARES TR	464287556	3,394	$572,813	0.08%
87	GOLDMAN SACHS ETF TR	NVGLF	5,283	$527,991	0.08%
88	GOLDMAN SACHS ETF TR	NVGLF	12,200	$507,764	0.07%
89	SPDR SERIES TRUST	78464A805	6,086	$502,097	0.07%
90	SCHWAB STRATEGIC TR	808524839	20,845	$487,137	0.07%
91	PEPSICO INC	PEP	3,352	$481,037	0.07%
92	PHILIP MORRIS INTL INC	718172109	2,901	$465,399	0.07%
93	ISHARES TR	46435G516	4,864	$462,476	0.07%
94	ISHARES TR	464287655	1,815	$446,780	0.06%
95	SCHWAB STRATEGIC TR	808524409	13,976	$413,822	0.06%
96	NUSHARES ETF TR	NU	4,157	$406,587	0.06%
97	JPMORGAN CHASE & CO.	VYLD	1,244	$400,952	0.06%
98	AMGEN INC	AMGN	1,221	$399,568	0.06%
99	DISNEY WALT CO	254687106	3,498	$397,929	0.06%
100	HOME DEPOT INC	HD	1,154	$396,985	0.06%
101	SPDR SERIES TRUST	78464A409	3,659	$390,415	0.06%
102	PROSHARES TR	74347R248	4,800	$382,464	0.05%
103	MERCK & CO INC	MRK	3,607	$379,692	0.05%
104	TRACTOR SUPPLY CO	TSCO	7,530	$376,575	0.05%
105	ISHARES TR	464288802	2,687	$374,390	0.05%
106	ISHARES TR	464287481	2,698	$369,464	0.05%
107	ISHARES TR	46432F859	7,020	$342,243	0.05%
108	WISDOMTREE TR	WT	3,852	$339,263	0.05%
109	ISHARES TR	46432F396	1,302	$325,904	0.05%
110	QUALCOMM INC	QCOM	1,891	$323,465	0.05%
111	AMERICAN CENTY ETF TR	025072299	4,333	$321,769	0.05%
112	NUSHARES ETF TR	NU	7,121	$320,801	0.05%
113	SELECT SECTOR SPDR TR	81369Y803	2,182	$314,143	0.04%
114	ISHARES TR	464287119	2,965	$308,475	0.04%
115	UNITEDHEALTH GROUP INC	UNH	883	$291,638	0.04%
116	LOWES COS INC	548661107	1,207	$291,124	0.04%
117	INVESCO EXCHANGE TRADED FD T	IVZ	4,822	$285,837	0.04%
118	SPDR INDEX SHS FDS	78463X509	6,069	$284,090	0.04%
119	ABBVIE INC	ABBV	1,238	$282,859	0.04%
120	WISDOMTREE TR	WT	3,897	$276,141	0.04%
121	NUSHARES ETF TR	NU	6,128	$273,621	0.04%
122	EXXON MOBIL CORP	XOM	2,232	$268,630	0.04%
123	ISHARES TR	464287671	1,597	$268,271	0.04%
124	INVESCO EXCHANGE TRADED FD T	IVZ	1,984	$266,498	0.04%
125	ORACLE CORP	ORCL-PD	1,337	$260,621	0.04%
126	AUTOZONE INC	AZO	72	$244,188	0.03%
127	AMERICAN CENTY ETF TR	025072315	3,732	$242,444	0.03%
128	SPDR SERIES TRUST	78468R853	4,968	$232,819	0.03%
129	META PLATFORMS INC	META	339	$223,771	0.03%
130	3M CO	MMM	1,374	$219,977	0.03%
131	ISHARES TR	46429B697	2,301	$216,662	0.03%
132	WISDOMTREE TR	WT	3,498	$215,547	0.03%
133	MICRON TECHNOLOGY INC	MU	739	$210,918	0.03%
134	CANOPY GROWTH CORP	CGC	10,000	$11,400	0.00%