Elm Partners Management LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 13, 2026), Elm Partners Management LLC reported 158 stock positions worth $2.3 billion. Its top holding was VG Morningstar TS MKT ETF-US (VTI) at 13.0% of the portfolio, followed by Vanguard Ftse Emerging Marke (VWO, 10.5%) and Schwab U.S. Tips ETF (SCHP, 9.3%). Compared with Q4 2025, it opened 11 new positions, sold out of 7, added to 84 and reduced 36. The biggest buy was Vanguard 0-3M T-Bill ETF (VBIL, shares +1592%) and the biggest sale VG Morningstar TS MKT ETF-US (VTI, shares −4%).

Most Recent 13F
Q2 2026
Location
Philadelphia, PA
CIK
0001743941
Portfolio Value
$2.3B (Q1 2026)
SEC Filing
0001172661-26-001760 ↗ filed May 13, 2026

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $1.3B Q1 2024 Q2 2024: $1.3B Q2 2024 Q3 2024: $1.4B Q3 2024 Q4 2024: $1.5B Q4 2024 Q1 2025: $1.6B Q1 2025 Q2 2025: $1.7B Q2 2025 Q3 2025: $2.0B Q3 2025 Q4 2025: $2.2B Q4 2025 Q1 2026: $2.3B $2.3B Q1 2026 Q2 2026: $2.8B Q2 2026

Holdings 158 stocks · $2.3B
VTI VG Morningstar TS MKT ETF-US 12.97% 960,162 $299.3M Reduce -3.6%
VWO Vanguard Ftse Emerging Marke 10.52% 4,632,193 $242.8M Add +0.1%
SCHP Schwab U.S. Tips ETF 9.29% 8,065,801 $214.4M Add +14.1%
VGK Vanguard Ftse Europe ETF 7.33% 2,117,017 $169.1M Reduce -3.6%
ELM Elm Market Navigator ETF 6.92% 6,006,305 $159.6M Add +33.6%
VBIL Vanguard 0-3M T-Bill ETF 6.04% 1,842,620 $139.4M Add +1592.1%
IEMG iShares Core MSCI Emerging 5.23% 1,791,143 $120.6M Add +20.7%
VPL Vanguard Ftse Pacific ETF 5.01% 1,225,262 $115.7M Add +1.4%
IEUR iShares Core MSCI Europe ETF 3.31% 1,119,616 $76.3M Add +16.5%
VGSH Vanguard Short-Term Treasury 2.96% 1,165,925 $68.2M Reduce -12.3%
VOO Vanguard S&P 500 ETF 2.69% 106,752 $62.0M Reduce -11.4%
ITOT iShares Core S&P Total U.S. 2.59% 431,442 $59.7M Add +6.7%
BND Vanguard Total Bond Market 2.37% 745,556 $54.8M Reduce -24.8%
BBEU JPMorgan Betabuilders Europe 1.92% 632,274 $44.4M Add +13.7%
IPAC iShares Core MSCI Pacific Et 1.63% 507,836 $37.7M Add +3.7%
SPEM State Street SP PTF Em ETF 1.63% 826,995 $37.6M Reduce -5.6%
BBCA JPMorgan Betabuilders Canada 1.27% 320,704 $29.4M Add +8.7%
SGOV iShares 0-3 Month Treasury B 1.24% 284,362 $28.6M Reduce -40.6%
AGG iShares Core U.S. Aggregate 1.18% 275,691 $27.3M Reduce -5.5%
VTV Vanguard Mrngstr Val ETF-Aui 1.16% 139,209 $26.9M Add +10.5%
VB Vanguard Most SM-Cap ETF-Usd 0.94% 85,423 $21.7M Add +14.1%
SCHH Schwab US REIT ETF 0.93% 1,010,445 $21.4M Add +61.1%
VTEB Vanguard Tax-Exempt Bond ETF 0.81% 375,373 $18.7M Reduce -17.1%
STIP iShares 0-5 Year Tips Bond E 0.80% 179,257 $18.5M Reduce -58.2%
NVDA Nvidia Corp. 0.79% 110,658 $18.3M Add +0.5%
SPYM Ste STR SPDR PT S&P 500 ETF 0.68% 211,312 $15.7M Add +391.7%
MUB iShares National Muni Bond E 0.64% 140,396 $14.9M Add +7.9%
IVV iShares Core S&P 500 ETF 0.41% 14,743 $9.4M Add +0.9%
VNQ Vanguard Real Estate ETF 0.36% 93,988 $8.2M Reduce -2.1%
AAPL Apple Inc. 0.28% 25,791 $6.4M Add +30.1%
EWC iShares MSCI Canada ETF 0.26% 112,070 $6.0M Reduce -0.4%
DFUS Dimensional US Eq MKT ETF 0.25% 85,046 $5.9M Add +20.4%
IUSV iShares Core S&P U.S. Value 0.22% 49,756 $5.0M Add +10.2%
SCHF Schwab Intl Equity ETF 0.20% 197,275 $4.7M Add +20.6%
VRT Vertiv Holdings Co. Class A 0.19% 19,053 $4.5M No change
BRK.A Berkshire Hathaway Inc. Class A 0.19% 6 $4.3M No change
SPY SS SPDR S&P 500 ETF Trust-US 0.17% 6,194 $3.9M Reduce -2.7%
VEA Vanguard Ftse Developed ETF 0.16% 60,019 $3.7M Add +1.6%
COHR Coherent Corp. 0.15% 15,998 $3.5M Reduce -20.0%
LLY Eli Lilly & Co. 0.15% 3,877 $3.4M Add +1.0%
XLK SS Technology Select Sector 0.15% 26,891 $3.4M Reduce -1.8%
CRWD CrowdStrike Holdings Inc. Class A 0.13% 7,594 $2.9M Reduce -16.5%
VFH Vanguard Financials ETF 0.12% 23,474 $2.8M Reduce -37.9%
IJR iShares Core S&P Small-Cap E 0.12% 22,514 $2.7M Add +7.0%
BN Brookfield Corp. 0.12% 69,811 $2.7M No change
XLF SS Financial Select Sector 0.11% 52,008 $2.5M Reduce -9.4%
SCHB Schwab US Broad Market ETF 0.11% 103,002 $2.5M Reduce -3.6%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.11% 10,377 $2.5M Reduce -3.7%
VCR Vanguard Consumer Discre ETF 0.10% 6,829 $2.4M Reduce -8.9%
VIS Vanguard Industrials ETF 0.09% 6,977 $2.1M Add +1.4%
VOX Vanguard Communication Servi 0.09% 11,962 $2.1M Reduce -7.0%
GOOGL Alphabet Inc. Class A 0.09% 7,381 $2.0M Add +0.3%
SCHA Schwab US Small-Cap ETF 0.09% 70,129 $2.0M Add +95.8%
VHT Vanguard Health Care ETF 0.08% 7,314 $1.9M Reduce -26.9%
MSFT Microsoft Corp. 0.08% 5,364 $1.9M Add +0.6%
RTX RTX Corp. 0.08% 9,438 $1.8M Add +1.0%
GOOG Alphabet Inc. Class C 0.07% 6,018 $1.6M Add +20.9%
IVE iShares S&P 500 Value ETF 0.07% 7,811 $1.6M Add +0.3%
XLI SS Industrial Select Sector 0.07% 9,877 $1.5M Add +26.8%
AMD Advanced Micro Devices 0.07% 7,851 $1.5M Reduce -1.8%
VIG Vanguard Dividend Apprec ETF 0.07% 7,223 $1.5M Add +59.8%
LRCX Lam Research Corp. 0.06% 7,250 $1.4M No change
VEU Vanguard Ftse All-World Ex-U 0.06% 19,868 $1.4M Add +116.8%
VXUS Vanguard Total Intl Stock 0.06% 18,388 $1.4M Reduce -0.0%
COST Costco Wholesale Corp. 0.06% 1,349 $1.3M Add +16.9%
DUK Duke Energy Corp. 0.05% 9,463 $1.2M Add +2.3%
BRK.B Berkshire Hathaway Inc. Class B 0.05% 2,582 $1.2M Add +22.4%
JPM JPMorgan Chase & Co. 0.05% 4,138 $1.2M Add +0.6%
IEFA iShares Core MSCI Eafe ETF 0.05% 12,848 $1.1M No change
AVGO Broadcom Inc. 0.05% 3,778 $1.1M Add +4.9%
FLCA Franklin Ftse Canada ETF 0.05% 22,616 $1.1M Reduce -26.5%
XOM Exxon Mobil Corp. 0.04% 5,991 $1.0M Add +6.2%
ABBV Abbvie Inc. 0.04% 4,673 $996K Add +1.9%
IWM iShares Russell 2000 ETF 0.04% 4,150 $994K Add +49.7%
AMZN Amazon.com Inc. 0.04% 4,813 $967K Add +9.4%
D Dominion Energy Inc. 0.04% 13,078 $809K No change
VDC Vanguard Consumer Staple ETF 0.03% 3,456 $774K Add +114.1%
META Meta Platforms Inc. Class A 0.03% 1,433 $768K Add +8.6%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.03% 3,471 $737K No change
XLC SS Comm Select Sector SPDR 0.03% 6,512 $703K Add +193.3%
MKL Markel Group Inc. 0.03% 364 $687K Add +4.3%
ALNY Alnylam Pharmaceuticals Inc. 0.03% 2,043 $646K Add +1.7%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.03% 3,556 $645K Reduce -0.8%
OEF iShares S&P 100 ETF 0.03% 2,083 $642K Add +4.7%
XLV SS Health Care Select Sector 0.03% 4,389 $631K New
SRE Sempra 0.03% 6,339 $612K Add +3.0%
IUSG iShares Core S&P U.S. Growth 0.03% 4,100 $611K Reduce -1.2%
XLY SS Consumer Disc Select Sect 0.03% 5,541 $585K Add +80.0%
WMT Walmart Inc. 0.02% 4,526 $559K Add +12.3%
OTF Blue Owl Technology Finance 0.02% 43,972 $551K Add +100.0%
SCHV Schwab US Large-Cap Value 0.02% 17,882 $535K Add +0.0%
VGT Vanguard Info Tech ETF 0.02% 6,361 $532K Add +23.0%
TIP iShares Tips Bond ETF 0.02% 4,787 $528K Reduce -6.4%
IAU iShares Gold Trust 0.02% 6,210 $527K Add +5.0%
PLD Prologis Inc. 0.02% 4,030 $519K Add +0.1%
LIN Linde PLC 0.02% 1,038 $518K Add +19.2%
TSM Taiwan Semiconductor-SP ADR 0.02% 1,614 $511K No change
CAT Caterpillar Inc. 0.02% 754 $503K Add +4.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.02% 10,549 $498K Add +3.8%
IVW iShares S&P 500 Growth ETF 0.02% 4,410 $479K Add +0.1%
ETN Eaton Corp. PLC 0.02% 1,333 $458K No change
VLO Valero Energy Corp. 0.02% 1,820 $455K Add +7.8%
PG The Procter & Gamble Co. 0.02% 3,065 $444K Add +5.3%
BIL SS SPDR BB 1-3M T-Bill ETF 0.02% 4,709 $432K Reduce -29.5%
VST Vistra Corp. 0.02% 2,895 $427K Add +3.4%
ASML ASML Holding NV-NY Reg SHS filed as ASML HLDG NV 0.02% 341 $427K No change
ORLY O'reilly Automotive Inc. 0.02% 4,605 $424K No change
IWN iShares Russell 2000 Value E 0.02% 2,276 $421K No change
ORCL Oracle Corp. 0.02% 2,890 $401K Reduce -0.1%
DLO Dlocal Ltd. 0.02% 32,000 $397K No change
MA Mastercard Inc. Class A 0.02% 791 $391K Add +27.6%
V Visa Inc. Class A 0.02% 1,265 $379K Reduce -3.2%
IWO iShares Russell 2000 Growth 0.02% 1,245 $375K Add +62.1%
IWD iShares Russell 1000 Value E 0.02% 1,785 $374K Add +0.2%
MRK Merck & Co. Inc. 0.02% 3,108 $367K No change
MELI MercadoLibre Inc. 0.02% 224 $363K No change
LMT Lockheed Martin Corp. 0.02% 599 $359K No change
NFLX Netflix Inc. 0.02% 3,823 $355K Reduce -60.8%
GILD Gilead Sciences Inc. 0.02% 2,579 $352K Add +0.1%
GLD SPDR Gold Shares 0.02% 839 $348K Add +0.1%
DE Deere & Co. 0.01% 616 $342K Add +19.6%
VAW Vanguard Materials ETF 0.01% 1,524 $336K Add +36.1%
NEE Nextera Energy Inc. 0.01% 3,418 $315K Add +16.5%
IJK iShares S&P Mid-Cap 400 Grow 0.01% 3,219 $313K Add +0.1%
JNJ Johnson & Johnson 0.01% 1,289 $313K Add +12.4%
VWOB Vanguard Emerg MKTS Gov BND 0.01% 4,755 $310K Add +0.0%
XLP SS Consumer Staples Sel Sect 0.01% 3,758 $308K Add +1.6%
LOW Lowe's Cos Inc. 0.01% 1,305 $304K Add +0.1%
STX Seagate Technology Holdings 0.01% 828 $300K No change
CVX Chevron Corp. 0.01% 1,354 $285K New
VRTX Vertex Pharmaceuticals Inc. 0.01% 636 $282K Add +19.8%
IWS iShares Russell Mid-Cap Valu 0.01% 1,946 $277K No change
MCD McDonald's Corp. 0.01% 885 $273K No change
MU Micron Technology Inc. 0.01% 840 $270K No change
APH Amphenol Corp. Class A 0.01% 2,252 $268K No change
VSS Vanguard Ftse All Wo X-US SC 0.01% 1,896 $268K New
SPYV SS SPDR P S&P 500 Value ETF 0.01% 4,710 $262K No change
BSV Vanguard Short-Term Bond ETF 0.01% 3,341 $262K New
VCSH Vanguard S/T Corp. Bond ETF 0.01% 3,255 $257K No change
PM Philip Morris International 0.01% 1,501 $247K No change
SCHD Schwab US DVD Equity ETF 0.01% 8,008 $244K New
SCHX Schwab US Large-Cap ETF 0.01% 9,708 $242K Add +0.0%
IWF iShares Russell 1000 Growth 0.01% 2,342 $241K Add +38.7%
TMO Thermo Fisher Scientific Inc. 0.01% 501 $240K Add +0.2%
QQQ Invesco QQQ Trust Series 1 0.01% 427 $239K Reduce -12.9%
GS Goldman Sachs Group Inc. 0.01% 293 $237K Reduce -17.7%
VUG Vanguard Mrngstar GR ETF-Sui 0.01% 3,361 $235K Add +39.2%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.01% 2,484 $234K Reduce -3.2%
KO The Coca-Cola Co. 0.01% 2,937 $224K New
VGIT Vanguard Intermediate-Term T 0.01% 3,712 $221K New
EEM iShares MSCI Emerging Market 0.01% 4,025 $220K New
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.01% 1,413 $220K New
KMI Kinder Morgan Inc. 0.01% 6,479 $218K New
SLV iShares Silver Trust 0.01% 3,427 $218K No change
IJJ iShares S&P Mid-Cap 400 Valu 0.01% 1,651 $214K Add +0.4%
URA Global X Uranium ETF 0.01% 4,687 $212K No change
WFC Wells Fargo & Co. 0.01% 2,708 $208K New
SAN Banco Santander SA-Spon ADR 0.01% 16,760 $179K No change

Portfolio Sells Q4 2025 → Q1 2026
VTI VG Morningstar TS MKT ETF-US Reduce -3.6% 12.97% −2.18
STIP iShares 0-5 Year Tips Bond E Reduce -58.2% 0.80% −1.19
VGK Vanguard Ftse Europe ETF Reduce -3.6% 7.33% −1.00
BND Vanguard Total Bond Market Reduce -24.8% 2.37% −0.96
SGOV iShares 0-3 Month Treasury B Reduce -40.6% 1.24% −0.94
VOO Vanguard S&P 500 ETF Reduce -11.4% 2.69% −0.74
VGSH Vanguard Short-Term Treasury Reduce -12.3% 2.96% −0.58
SPEM State Street SP PTF Em ETF Reduce -5.6% 1.63% −0.23
VTEB Vanguard Tax-Exempt Bond ETF Reduce -17.1% 0.81% −0.22
AGG iShares Core U.S. Aggregate Reduce -5.5% 1.18% −0.14
VFH Vanguard Financials ETF Reduce -37.9% 0.12% −0.11
CRWD CrowdStrike Holdings Inc. Class A Reduce -16.5% 0.13% −0.07
BTC Grayscale Bitcoin Mini ETF Sold out 0.00% −0.05
VHT Vanguard Health Care ETF Reduce -26.9% 0.08% −0.05
IBM Intl Business Machines Corp. Reduce -3.7% 0.11% −0.04
XLF SS Financial Select Sector Reduce -9.4% 0.11% −0.03
VCR Vanguard Consumer Discre ETF Reduce -8.9% 0.10% −0.03
XLK SS Technology Select Sector Reduce -1.8% 0.15% −0.03
VNQ Vanguard Real Estate ETF Reduce -2.1% 0.36% −0.03
SPY SS SPDR S&P 500 ETF Trust-US Reduce -2.7% 0.17% −0.03
NFLX Netflix Inc. Reduce -60.8% 0.02% −0.03
VOX Vanguard Communication Servi Reduce -7.0% 0.09% −0.02
FLCA Franklin Ftse Canada ETF Reduce -26.5% 0.05% −0.02
SCHB Schwab US Broad Market ETF Reduce -3.6% 0.11% −0.02
EWC iShares MSCI Canada ETF Reduce -0.4% 0.26% −0.02
XLU St Sr Utl SL SE SPDR ETF-Usd Sold out 0.00% −0.02
COHR Coherent Corp. Reduce -20.0% 0.15% −0.02
PLTR Palantir Technologies Inc. Class A Sold out 0.00% −0.01
LMND Lemonade Inc. Sold out 0.00% −0.01
NVO Novo-Nordisk A/S-Spons ADR Sold out 0.00% −0.01
AMD Advanced Micro Devices Reduce -1.8% 0.07% −0.01
ELV Elevance Health Inc. Sold out 0.00% −0.01
TSLA Tesla Inc. Sold out 0.00% −0.01
BIL SS SPDR BB 1-3M T-Bill ETF Reduce -29.5% 0.02% −0.01
ORCL Oracle Corp. Reduce -0.1% 0.02% −0.01
IUSG iShares Core S&P U.S. Growth Reduce -1.2% 0.03% −0.01
V Visa Inc. Class A Reduce -3.2% 0.02% −0.00
GS Goldman Sachs Group Inc. Reduce -17.7% 0.01% −0.00
VXUS Vanguard Total Intl Stock Reduce -0.0% 0.06% −0.00
QQQ Invesco QQQ Trust Series 1 Reduce -12.9% 0.01% −0.00
DIS The Walt Disney Co. Reduce -3.2% 0.01% −0.00
TIP iShares Tips Bond ETF Reduce -6.4% 0.02% −0.00
VOE Vngrd Mrngstr MD-Cap Val ETF Reduce -0.8% 0.03% −0.00

Portfolio Buys Q4 2025 → Q1 2026
VBIL Vanguard 0-3M T-Bill ETF Add +1592.1% 6.04% +5.67
ELM Elm Market Navigator ETF Add +33.6% 6.92% +1.36
SCHP Schwab U.S. Tips ETF Add +14.1% 9.29% +0.79
IEMG iShares Core MSCI Emerging Add +20.7% 5.23% +0.70
SPYM Ste STR SPDR PT S&P 500 ETF Add +391.7% 0.68% +0.52
SCHH Schwab US REIT ETF Add +61.1% 0.93% +0.33
IEUR iShares Core MSCI Europe ETF Add +16.5% 3.31% +0.21
BBEU JPMorgan Betabuilders Europe Add +13.7% 1.92% +0.07
VTV Vanguard Mrngstr Val ETF-Aui Add +10.5% 1.16% +0.07
VB Vanguard Most SM-Cap ETF-Usd Add +14.1% 0.94% +0.06
VPL Vanguard Ftse Pacific ETF Add +1.4% 5.01% +0.06
SCHA Schwab US Small-Cap ETF Add +95.8% 0.09% +0.04
VEU Vanguard Ftse All-World Ex-U Add +116.8% 0.06% +0.03
AAPL Apple Inc. Add +30.1% 0.28% +0.03
BBCA JPMorgan Betabuilders Canada Add +8.7% 1.27% +0.03
XLV SS Health Care Select Sector New 0.03% +0.03
SCHF Schwab Intl Equity ETF Add +20.6% 0.20% +0.03
VIG Vanguard Dividend Apprec ETF Add +59.8% 0.07% +0.02
XLC SS Comm Select Sector SPDR Add +193.3% 0.03% +0.02
VDC Vanguard Consumer Staple ETF Add +114.1% 0.03% +0.02
DFUS Dimensional US Eq MKT ETF Add +20.4% 0.25% +0.02
XOM Exxon Mobil Corp. Add +6.2% 0.04% +0.01
COST Costco Wholesale Corp. Add +16.9% 0.06% +0.01
CVX Chevron Corp. New 0.01% +0.01
MUB iShares National Muni Bond E Add +7.9% 0.64% +0.01
XLI SS Industrial Select Sector Add +26.8% 0.07% +0.01
IWM iShares Russell 2000 ETF Add +49.7% 0.04% +0.01
VSS Vanguard Ftse All Wo X-US SC New 0.01% +0.01
BSV Vanguard Short-Term Bond ETF New 0.01% +0.01
SCHD Schwab US DVD Equity ETF New 0.01% +0.01
KO The Coca-Cola Co. New 0.01% +0.01
EEM iShares MSCI Emerging Market New 0.01% +0.01
VGIT Vanguard Intermediate-Term T New 0.01% +0.01
KMI Kinder Morgan Inc. New 0.01% +0.01
TJX TJX Companies Inc. New 0.01% +0.01
OTF Blue Owl Technology Finance Add +100.0% 0.02% +0.01
WFC Wells Fargo & Co. New 0.01% +0.01
XLY SS Consumer Disc Select Sect Add +80.0% 0.03% +0.01
IPAC iShares Core MSCI Pacific Et Add +3.7% 1.63% +0.01
VLO Valero Energy Corp. Add +7.8% 0.02% +0.01
IUSV iShares Core S&P U.S. Value Add +10.2% 0.22% +0.01
LIN Linde PLC Add +19.2% 0.02% +0.01
BRK.B Berkshire Hathaway Inc. Class B Add +22.4% 0.05% +0.01
IWO iShares Russell 2000 Growth Add +62.1% 0.02% +0.01
DUK Duke Energy Corp. Add +2.3% 0.05% +0.00
DE Deere & Co. Add +19.6% 0.01% +0.00
VAW Vanguard Materials ETF Add +36.1% 0.01% +0.00
WMT Walmart Inc. Add +12.3% 0.02% +0.00
IJR iShares Core S&P Small-Cap E Add +7.0% 0.12% +0.00
CAT Caterpillar Inc. Add +4.3% 0.02% +0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 161$2.8BVTI, VBIL, VWO, VGK, ELM
Q1 2026 158$2.3BVTI, VWO, SCHP, VGK, ELM
Q4 2025 154$2.2BVTI, VWO, SCHP, VGK, ELM
Q3 2025 146$2.0BVTI, VWO, ELM, VGK, SCHP
Q2 2025 97$1.7BVTI, VWO, ELM, VGK, SGOV
Q1 2025 66$1.6BELM, SCHP, VWO, VGK, VTI
Q4 2024 68$1.5BVTI, VWO, ITOT, IEMG, SGOV
Q3 2024 60$1.4BVTI, VWO, ITOT, IEMG, VGK
Q2 2024 60$1.3BVTI, ITOT, VWO, VGK, IEMG
Q1 2024 61$1.3BVTI, ITOT, VWO, VGK, IEMG