Elm Partners Management LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 13, 2025), Elm Partners Management LLC reported 68 stock positions worth $1.5 billion. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 17.7% of the portfolio, followed by Vanguard Ftse Emerging Marke (VWO, 10.5%) and iShares Core S&P Total U.S. (ITOT, 10.2%). Compared with Q3 2024, it opened 8 new positions, added to 30 and reduced 26. The biggest buy was iShares 0-3 Month Treasury B (SGOV, shares +237%) and the biggest sale Vanguard Ftse Europe ETF (VGK, shares −19%).
- Most Recent 13F
- Q2 2026
- Location
- Philadelphia, PA
- CIK
- 0001743941
- Portfolio Value
- $1.5B (Q4 2024)
- SEC Filing
- 0001172661-25-000783 ↗ filed Feb 13, 2025
Holdings Value
Holdings 68 stocks · $1.5B
| VTI VG Morningstar TS MKT ETF-US | 17.75% | 896,652 | $259.9M | Add +12.3% |
| VWO Vanguard Ftse Emerging Marke | 10.47% | 3,480,467 | $153.3M | Add +9.2% |
| ITOT iShares Core S&P Total U.S. | 10.17% | 1,157,812 | $148.9M | Reduce -3.5% |
| IEMG iShares Core MSCI Emerging | 8.43% | 2,363,087 | $123.4M | Reduce -3.8% |
| SGOV iShares 0-3 Month Treasury B | 7.98% | 1,164,975 | $116.9M | Add +237.3% |
| VGK Vanguard Ftse Europe ETF | 6.68% | 1,541,194 | $97.8M | Reduce -19.1% |
| SCHP Schwab U.S. Tips ETF | 6.62% | 3,753,515 | $97.0M | Add +12.5% |
| IEUR iShares Core MSCI Europe ETF | 3.88% | 1,051,824 | $56.8M | Reduce -20.5% |
| VPL Vanguard Ftse Pacific ETF | 3.62% | 746,053 | $53.0M | Reduce -21.8% |
| AGG iShares Core U.S. Aggregate | 2.93% | 443,147 | $42.9M | Reduce -7.2% |
| IPAC iShares Core MSCI Pacific Et | 2.85% | 683,188 | $41.7M | Reduce -4.1% |
| BBCA JPMorgan Betabuilders Canada | 1.97% | 408,555 | $28.8M | Reduce -12.6% |
| VB Vanguard Most SM-Cap ETF-Usd | 1.73% | 105,221 | $25.3M | Reduce -13.0% |
| IVV iShares Core S&P 500 ETF | 1.53% | 38,103 | $22.4M | Reduce -1.1% |
| VOO Vanguard S&P 500 ETF | 1.40% | 38,028 | $20.5M | Add +27.2% |
| STIP iShares 0-5 Year Tips Bond E | 1.24% | 179,779 | $18.1M | Add +71.5% |
| SCHH Schwab US REIT ETF | 1.20% | 833,340 | $17.6M | Add +2.7% |
| VGSH Vanguard Short-Term Treasury | 1.06% | 266,089 | $15.5M | Add +418.2% |
| VTV Vanguard Mrngstr Val ETF-Aui | 1.05% | 91,138 | $15.4M | Reduce -28.6% |
| MUB iShares National Muni Bond E | 1.02% | 139,749 | $14.9M | Add +6.3% |
| VNQ Vanguard Real Estate ETF | 0.87% | 143,362 | $12.8M | Reduce -50.7% |
| VTEB Vanguard Tax-Exempt Bond ETF | 0.79% | 229,571 | $11.5M | Reduce -20.6% |
| SPEM State Street SP PTF Em ETF | 0.70% | 267,997 | $10.3M | New |
| BND Vanguard Total Bond Market | 0.41% | 82,886 | $6.0M | Add +12.0% |
| IUSV iShares Core S&P U.S. Value | 0.37% | 59,101 | $5.5M | Add +15.4% |
| EWC iShares MSCI Canada ETF | 0.35% | 125,823 | $5.1M | Reduce -3.4% |
| SCHA Schwab US Small-Cap ETF | 0.23% | 128,479 | $3.3M | Add +45.0% |
| VEU Vanguard Ftse All-World Ex-U | 0.22% | 55,912 | $3.2M | No change |
| LQD Ishr Ibx Usd Invgd CB ETF-Ui | 0.20% | 27,577 | $2.9M | No change |
| XLK SS Technology Select Sector | 0.19% | 11,911 | $2.8M | Add +73.9% |
| SCHF Schwab Intl Equity ETF | 0.18% | 141,903 | $2.6M | Add +3.5% |
| BIL SS SPDR BB 1-3M T-Bill ETF | 0.17% | 27,787 | $2.5M | Reduce -13.9% |
| SCZ iShares MSCI Eafe Small-Cap | 0.16% | 38,789 | $2.4M | Reduce -2.2% |
| IJR iShares Core S&P Small-Cap E | 0.15% | 19,696 | $2.3M | Reduce -8.0% |
| SCHC Schwab Intl Small-Cap Equity | 0.14% | 60,945 | $2.1M | Add +0.5% |
| SCHB Schwab US Broad Market ETF | 0.13% | 86,922 | $2.0M | Add +18.9% |
| VGT Vanguard Info Tech ETF | 0.08% | 1,991 | $1.2M | Reduce -0.1% |
| XLY SS Consumer Disc Select Sect | 0.07% | 4,897 | $1.1M | Add +64.9% |
| XLF SS Financial Select Sector | 0.07% | 22,711 | $1.1M | Add +113.2% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.07% | 1,816 | $1.1M | Reduce -0.9% |
| IVE iShares S&P 500 Value ETF | 0.07% | 5,232 | $999K | No change |
| XLV SS Health Care Select Sector | 0.07% | 6,932 | $954K | Add +45.7% |
| XLC SS Comm Select Sector SPDR | 0.06% | 9,787 | $947K | Add +43.3% |
| VFH Vanguard Financials ETF | 0.06% | 7,373 | $871K | Reduce -2.2% |
| VEA Vanguard Ftse Developed ETF | 0.04% | 12,402 | $593K | Add +36.3% |
| OEF iShares S&P 100 ETF | 0.04% | 1,960 | $566K | No change |
| VBR Vngrd Mrngst SL-CP Val ETF-U | 0.04% | 2,792 | $553K | Add +0.5% |
| VCR Vanguard Consumer Discre ETF | 0.04% | 1,464 | $550K | Add +3.0% |
| VIS Vanguard Industrials ETF | 0.04% | 2,130 | $542K | Reduce -3.7% |
| XLI SS Industrial Select Sector | 0.03% | 3,504 | $462K | Add +55.0% |
| VHT Vanguard Health Care ETF | 0.03% | 1,730 | $439K | Reduce -20.4% |
| VDC Vanguard Consumer Staple ETF | 0.03% | 1,994 | $421K | Reduce -15.2% |
| VOE Vngrd Mrngstr MD-Cap Val ETF | 0.03% | 2,541 | $411K | Add +2.3% |
| VDE Vanguard Energy ETF | 0.02% | 2,996 | $363K | New |
| IWS iShares Russell Mid-Cap Valu | 0.02% | 2,547 | $329K | Add +14.7% |
| VOX Vanguard Communication Servi | 0.02% | 2,095 | $325K | Add +6.8% |
| SCHV Schwab US Large-Cap Value | 0.02% | 12,339 | $322K | New |
| TIP iShares Tips Bond ETF | 0.02% | 2,923 | $311K | New |
| GS Goldman Sachs Group Inc. | 0.02% | 536 | $307K | New |
| VAW Vanguard Materials ETF | 0.02% | 1,599 | $300K | New |
| IWD iShares Russell 1000 Value E | 0.02% | 1,585 | $293K | Reduce -2.5% |
| SCHX Schwab US Large-Cap ETF | 0.02% | 12,482 | $289K | New |
| MSFT Microsoft Corp. | 0.02% | 683 | $288K | Add +45.0% |
| IWN iShares Russell 2000 Value E | 0.02% | 1,716 | $282K | Add +9.9% |
| XLRE SS Real Estate Select Sector | 0.02% | 5,896 | $240K | Reduce -5.8% |
| XLB SS Materials Select Sector | 0.01% | 2,616 | $220K | Add +0.3% |
| ABBV Abbvie Inc. | 0.01% | 1,149 | $204K | New |
| IWM iShares Russell 2000 ETF | 0.01% | 921 | $204K | Reduce -1.7% |
Portfolio Sells Q3 2024 → Q4 2024
| VGK Vanguard Ftse Europe ETF | Reduce -19.1% | 6.68% | −2.99 |
| IEUR iShares Core MSCI Europe ETF | Reduce -20.5% | 3.88% | −1.88 |
| VPL Vanguard Ftse Pacific ETF | Reduce -21.8% | 3.62% | −1.72 |
| IEMG iShares Core MSCI Emerging | Reduce -3.8% | 8.43% | −1.65 |
| VNQ Vanguard Real Estate ETF | Reduce -50.7% | 0.87% | −1.15 |
| ITOT iShares Core S&P Total U.S. | Reduce -3.5% | 10.17% | −0.60 |
| IPAC iShares Core MSCI Pacific Et | Reduce -4.1% | 2.85% | −0.54 |
| VTV Vanguard Mrngstr Val ETF-Aui | Reduce -28.6% | 1.05% | −0.54 |
| AGG iShares Core U.S. Aggregate | Reduce -7.2% | 2.93% | −0.52 |
| BBCA JPMorgan Betabuilders Canada | Reduce -12.6% | 1.97% | −0.45 |
| VB Vanguard Most SM-Cap ETF-Usd | Reduce -13.0% | 1.73% | −0.32 |
| VTEB Vanguard Tax-Exempt Bond ETF | Reduce -20.6% | 0.79% | −0.27 |
| IVV iShares Core S&P 500 ETF | Reduce -1.1% | 1.53% | −0.06 |
| EWC iShares MSCI Canada ETF | Reduce -3.4% | 0.35% | −0.04 |
| BIL SS SPDR BB 1-3M T-Bill ETF | Reduce -13.9% | 0.17% | −0.04 |
| SCZ iShares MSCI Eafe Small-Cap | Reduce -2.2% | 0.16% | −0.03 |
| IJR iShares Core S&P Small-Cap E | Reduce -8.0% | 0.15% | −0.02 |
| VHT Vanguard Health Care ETF | Reduce -20.4% | 0.03% | −0.01 |
| VDC Vanguard Consumer Staple ETF | Reduce -15.2% | 0.03% | −0.01 |
| VIS Vanguard Industrials ETF | Reduce -3.7% | 0.04% | −0.00 |
| XLRE SS Real Estate Select Sector | Reduce -5.8% | 0.02% | −0.00 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -0.9% | 0.07% | −0.00 |
| IWD iShares Russell 1000 Value E | Reduce -2.5% | 0.02% | −0.00 |
| IWM iShares Russell 2000 ETF | Reduce -1.7% | 0.01% | −0.00 |
| VFH Vanguard Financials ETF | Reduce -2.2% | 0.06% | +0.00 |
| VGT Vanguard Info Tech ETF | Reduce -0.1% | 0.08% | +0.00 |
Portfolio Buys Q3 2024 → Q4 2024
| SGOV iShares 0-3 Month Treasury B | Add +237.3% | 7.98% | +5.50 |
| SCHP Schwab U.S. Tips ETF | Add +12.5% | 6.62% | +3.42 |
| VTI VG Morningstar TS MKT ETF-US | Add +12.3% | 17.75% | +1.60 |
| VGSH Vanguard Short-Term Treasury | Add +418.2% | 1.06% | +0.84 |
| SPEM State Street SP PTF Em ETF | New | 0.70% | +0.70 |
| STIP iShares 0-5 Year Tips Bond E | Add +71.5% | 1.24% | +0.48 |
| VOO Vanguard S&P 500 ETF | Add +27.2% | 1.40% | +0.27 |
| SCHA Schwab US Small-Cap ETF | Add +45.0% | 0.23% | +0.15 |
| SCHB Schwab US Broad Market ETF | Add +18.9% | 0.13% | +0.10 |
| SCHF Schwab Intl Equity ETF | Add +3.5% | 0.18% | +0.08 |
| XLK SS Technology Select Sector | Add +73.9% | 0.19% | +0.08 |
| XLF SS Financial Select Sector | Add +113.2% | 0.07% | +0.04 |
| XLY SS Consumer Disc Select Sect | Add +64.9% | 0.07% | +0.03 |
| VDE Vanguard Energy ETF | New | 0.02% | +0.02 |
| IUSV iShares Core S&P U.S. Value | Add +15.4% | 0.37% | +0.02 |
| SCHV Schwab US Large-Cap Value | New | 0.02% | +0.02 |
| TIP iShares Tips Bond ETF | New | 0.02% | +0.02 |
| GS Goldman Sachs Group Inc. | New | 0.02% | +0.02 |
| XLC SS Comm Select Sector SPDR | Add +43.3% | 0.06% | +0.02 |
| VAW Vanguard Materials ETF | New | 0.02% | +0.02 |
| SCHX Schwab US Large-Cap ETF | New | 0.02% | +0.02 |
| ABBV Abbvie Inc. | New | 0.01% | +0.01 |
| XLV SS Health Care Select Sector | Add +45.7% | 0.07% | +0.01 |
| XLI SS Industrial Select Sector | Add +55.0% | 0.03% | +0.01 |
| BND Vanguard Total Bond Market | Add +12.0% | 0.41% | +0.01 |
| VEA Vanguard Ftse Developed ETF | Add +36.3% | 0.04% | +0.01 |
| MSFT Microsoft Corp. | Add +45.0% | 0.02% | +0.01 |
| VCR Vanguard Consumer Discre ETF | Add +3.0% | 0.04% | +0.00 |
| VOX Vanguard Communication Servi | Add +6.8% | 0.02% | +0.00 |
| IWS iShares Russell Mid-Cap Valu | Add +14.7% | 0.02% | +0.00 |
| IWN iShares Russell 2000 Value E | Add +9.9% | 0.02% | +0.00 |
| VOE Vngrd Mrngstr MD-Cap Val ETF | Add +2.3% | 0.03% | −0.00 |
| VBR Vngrd Mrngst SL-CP Val ETF-U | Add +0.5% | 0.04% | −0.00 |
| XLB SS Materials Select Sector | Add +0.3% | 0.01% | −0.00 |
| MUB iShares National Muni Bond E | Add +6.3% | 1.02% | −0.00 |
| SCHC Schwab Intl Small-Cap Equity | Add +0.5% | 0.14% | −0.02 |
| SCHH Schwab US REIT ETF | Add +2.7% | 1.20% | −0.15 |
| VWO Vanguard Ftse Emerging Marke | Add +9.2% | 10.47% | −0.42 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 161 | $2.8B | VTI, VBIL, VWO, VGK, ELM |
| Q1 2026 | 158 | $2.3B | VTI, VWO, SCHP, VGK, ELM |
| Q4 2025 | 154 | $2.2B | VTI, VWO, SCHP, VGK, ELM |
| Q3 2025 | 146 | $2.0B | VTI, VWO, ELM, VGK, SCHP |
| Q2 2025 | 97 | $1.7B | VTI, VWO, ELM, VGK, SGOV |
| Q1 2025 | 66 | $1.6B | ELM, SCHP, VWO, VGK, VTI |
| Q4 2024 | 68 | $1.5B | VTI, VWO, ITOT, IEMG, SGOV |
| Q3 2024 | 60 | $1.4B | VTI, VWO, ITOT, IEMG, VGK |
| Q2 2024 | 60 | $1.3B | VTI, ITOT, VWO, VGK, IEMG |
| Q1 2024 | 61 | $1.3B | VTI, ITOT, VWO, VGK, IEMG |