Elser Financial Planning, Inc

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 29, 2025), Elser Financial Planning, Inc reported 110 stock positions worth $1.7 billion. Its top holding was Merchants Bancorp (MBIN) at 59.5% of the portfolio, followed by Dimensional Core Fixed (DFCF, 8.6%) and Dimensional US Core Equity M (DFAU, 4.8%). Compared with Q3 2024, it opened 50 new positions, sold out of 2, added to 34 and reduced 12. The biggest buy was a new position in Merchants Bancorp (MBIN) and the biggest sale Eli Lilly (LLY, shares −1%).

Most Recent 13F
Q2 2026
Location
INDIANAPOLIS, IN
CIK
0002028202
Portfolio Value
$1.7B (Q4 2024)
SEC Filing
0001754960-25-000077 ↗ filed Jan 29, 2025

Holdings Value

0$500.0M$1.0B$1.5B$2.0B$2.5B Q2 2024: $598.6M Q2 2024 Q3 2024: $68.9M Q3 2024 Q4 2024: $1.7B $1.7B Q4 2024 Q1 2025: $72.2M Q1 2025 Q2 2025: $80.2M Q2 2025 Q3 2025: $83.0M Q3 2025 Q4 2025: $138.3M Q4 2025 Q1 2026: $2.1B Q1 2026 Q2 2026: $2.3B Q2 2026

Holdings 110 stocks · $1.7B
MBIN Merchants Bancorp 59.49% 27,260,950 $994.2M New
DFCF Dimensional Core Fixed Inc. 8.57% 3,439,913,328 $143.2M Add +11555254.0%
DFAU Dimensional US Core Equity M 4.80% 1,981,392,522 $80.3M New
DFUS Dimensional US Eq MKT ETF 3.83% 1,003,123 $63.9M Add +2245.6%
DFIC Dimensional International Co. 3.13% 2,022,479,247 $52.3M New
DFAS Dimensional US Small Cap ETF 2.85% 733,075 $47.7M Add +3665.7%
DFUV Dimensional US Marketwide Va 2.41% 985,539 $40.3M Add +13350.8%
DFAT Dimensional US Target Value 2.35% 706,144 $39.3M New
DFSD Dimensional Short Duration 1.99% 709,717 $33.3M New
DFEM Dimensional Emrg MRKT Core 1.60% 1,018,165,805 $26.7M New
LLY Eli Lilly & Co. 0.90% 19,545 $15.1M Reduce -1.4%
DFAX Dimensional World Ex US Core 0.83% 559,163 $13.9M Add +2407.1%
DFGR Dim Global Real Estate ETF 0.64% 421,777 $10.8M New
DFSU Dimensional US Sus CORE1 ETF 0.50% 221,004 $8.4M New
DFSI Dimensional Int Sus COR1 ETF 0.44% 222,505 $7.3M New
VCIT Vanguard Int-Term Corporate 0.40% 83,500 $6.7M New
SUSB iShares ESG Aware 1-5 Year U 0.39% 264,543 $6.5M New
AAPL Apple Inc. 0.37% 24,943 $6.2M Reduce -1.5%
DFAI Dimensional International Co. 0.28% 159,207 $4.6M New
DFSE Dimensional Em Sus CORE1 ETF 0.23% 118,424 $3.9M New
BRO Brown & Brown Inc. 0.22% 35,835 $3.7M Reduce -7.7%
VOO Vanguard S&P 500 ETF 0.20% 6,181 $3.3M New
SCHX Schwab US Large-Cap ETF 0.19% 135,411 $3.1M Reduce -2.6%
VCSH Vanguard S/T Corp. Bond ETF 0.18% 39,599 $3.1M New
SCHA Schwab US Small-Cap ETF 0.18% 118,919 $3.1M Reduce -6.9%
VUSB Vanguard Ultra Short Bond Et 0.16% 55,033 $2.7M New
SCHB Schwab US Broad Market ETF 0.14% 104,897 $2.4M Reduce -6.3%
SCHF Schwab Intl Equity ETF 0.12% 106,088 $2.0M Reduce -7.6%
MSFT Microsoft Corp. 0.12% 4,610 $1.9M Add +2.5%
DFAE Dimensional Emerging Core Eq 0.11% 70,397 $1.8M New
NVDA Nvidia Corp. 0.10% 12,171 $1.6M New
JPM JPMorgan Chase & Co. 0.08% 5,592 $1.3M New
VB Vanguard Most SM-Cap ETF-Usd 0.07% 5,003 $1.2M No change
FORA Forian Inc. 0.07% 558,617 $1.2M New
AMZN Amazon.com Inc. 0.07% 5,067 $1.1M Add +6.0%
QTEC First Trust Nasdq 100 Tech I 0.07% 5,783 $1.1M No change
FXL First Trust Technology Alpha 0.06% 7,087 $1.1M New
VIG Vanguard Dividend Apprec ETF 0.06% 5,303 $1.0M No change
VTEI Vanguard Int Tax-Exempt Bond 0.06% 9,810 $975K Add +177.8%
JNJ Johnson & Johnson 0.05% 6,123 $886K Reduce -2.3%
NVS Novartis AG-Sponsored ADR 0.05% 8,978 $874K New
GOOGL Alphabet Inc. Class A 0.05% 4,423 $837K New
DFAC Dimensional US Core Equity 2 0.05% 22,730 $786K New
SCHE Schwab Emrg Mrkts Eqty ETF 0.05% 29,419 $783K Reduce -4.6%
DFIV Dimensional International Va 0.05% 21,499 $763K Add +176.0%
ORCL Oracle Corp. 0.05% 4,537 $756K New
SPY SS SPDR S&P 500 ETF Trust-US 0.04% 1,281 $751K New
UNP Union Pacific Corp. 0.04% 3,238 $738K Add +0.4%
VEA Vanguard Ftse Developed ETF 0.04% 15,232 $728K Add +0.1%
APD Air Products & Chemicals Inc. 0.04% 2,412 $700K Reduce -6.9%
XLE SS Energy Select Sector 0.04% 7,050 $604K New
SCHG Schwab US Large-Cap Growth 0.04% 21,184 $590K No change
NSC Norfolk Southern Corp. 0.03% 2,356 $553K Add +0.2%
UNH Unitedhealth Group Inc. 0.03% 1,035 $524K New
FXD First Trust Consumer Discret 0.03% 8,000 $517K New
VTI VG Morningstar TS MKT ETF-US 0.03% 1,783 $517K Add +7.5%
EMXC iShares MSCI Emr MRK Ex Chna 0.03% 9,296 $515K New
SCHH Schwab US REIT ETF 0.03% 23,153 $488K No change
CAT Caterpillar Inc. 0.03% 1,334 $484K Add +1.4%
KR Kroger Co. 0.03% 7,886 $482K Add +0.2%
ABBV Abbvie Inc. 0.03% 2,612 $464K New
SYK Stryker Corp. 0.03% 1,252 $451K Add +0.9%
LOW Lowe's Cos Inc. 0.03% 1,802 $445K Add +0.8%
TSLA Tesla Inc. 0.03% 1,079 $436K New
APH Amphenol Corp. Class A 0.03% 6,264 $435K Add +0.5%
VGT Vanguard Info Tech ETF 0.03% 687 $427K New
COST Costco Wholesale Corp. 0.03% 461 $422K New
CL Colgate-Palmolive Co. 0.03% 4,629 $421K Add +0.0%
VTEB Vanguard Tax-Exempt Bond ETF 0.03% 8,347 $418K New
PG The Procter & Gamble Co. 0.02% 2,480 $416K No change
CSX CSX Corp. 0.02% 11,555 $373K Add +1.0%
CHTR Charter Communications Inc. Class A 0.02% 1,023 $351K New
MCD McDonald's Corp. 0.02% 1,194 $346K Add +0.1%
CVX Chevron Corp. 0.02% 2,386 $346K Add +2.0%
NVO Novo-Nordisk A/S-Spons ADR 0.02% 3,714 $319K No change
META Meta Platforms Inc. Class A 0.02% 544 $319K New
ELV Elevance Health Inc. 0.02% 856 $316K Reduce -3.4%
VEU Vanguard Ftse All-World Ex-U 0.02% 5,285 $303K Add +3.1%
XOM Exxon Mobil Corp. 0.02% 2,802 $301K New
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.02% 2,656 $296K Add +4.1%
VWO Vanguard Ftse Emerging Marke 0.02% 6,695 $295K Add +3.4%
ALL Allstate Corp. 0.02% 1,526 $294K Add +0.4%
CSCO Cisco Systems Inc. 0.02% 4,888 $289K New
VXUS Vanguard Total Intl Stock 0.02% 4,798 $283K Add +0.1%
PEP Pepsico Inc. 0.02% 1,838 $279K Reduce -6.7%
ACN Accenture PLC Class A 0.02% 780 $274K New
SPIB SS SPDR P Int C Corp. ETF 0.02% 8,347 $273K New
MAR Marriott International Class A 0.02% 966 $269K Add +0.7%
CBSH Commerce Bancshares Inc. 0.02% 4,318 $269K Add +5.1%
QCOM Qualcomm Inc. 0.02% 1,741 $267K Add +4.3%
QQQ Invesco QQQ Trust Series 1 0.02% 516 $264K No change
FHEQ Fidelity Hedged Equity ETF 0.02% 9,484 $260K New
GLD SPDR Gold Shares 0.02% 1,051 $254K New
EFA iShares MSCI Eafe ETF 0.02% 3,359 $254K No change
HD Home Depot Inc. 0.01% 637 $248K Add +3.6%
MA Mastercard Inc. Class A 0.01% 466 $245K New
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.01% 2,022 $244K Add +1.5%
R Ryder System Inc. 0.01% 1,515 $238K No change
EPD Enterprise Products Partners 0.01% 7,488 $235K No change
ABT Abbott Laboratories 0.01% 2,065 $234K Add +2.1%

Show all 110 holdings

Portfolio Sells Q3 2024 → Q4 2024
LLY Eli Lilly & Co. Reduce -1.4% 0.90% −24.58
AAPL Apple Inc. Reduce -1.5% 0.37% −8.19
BRO Brown & Brown Inc. Reduce -7.7% 0.22% −5.62
SCHA Schwab US Small-Cap ETF Reduce -6.9% 0.18% −4.59
SCHX Schwab US Large-Cap ETF Reduce -2.6% 0.19% −4.38
SCHB Schwab US Broad Market ETF Reduce -6.3% 0.14% −3.46
SCHF Schwab Intl Equity ETF Reduce -7.6% 0.12% −3.31
JNJ Johnson & Johnson Reduce -2.3% 0.05% −1.42
SCHE Schwab Emrg Mrkts Eqty ETF Reduce -4.6% 0.05% −1.26
APD Air Products & Chemicals Inc. Reduce -6.9% 0.04% −1.08
ELV Elevance Health Inc. Reduce -3.4% 0.02% −0.65
PEP Pepsico Inc. Reduce -6.7% 0.02% −0.47
DHR Danaher Corp. Sold out 0.00% −0.33
VNQI Vanguard GLBL Ex-US Real Est Sold out 0.00% −0.33

Portfolio Buys Q3 2024 → Q4 2024
MBIN Merchants Bancorp New 59.49% +59.49
DFCF Dimensional Core Fixed Inc. Add +11555254.0% 8.57% +6.70
DFAU Dimensional US Core Equity M New 4.80% +4.80
DFIC Dimensional International Co. New 3.13% +3.13
DFAT Dimensional US Target Value New 2.35% +2.35
DFSD Dimensional Short Duration New 1.99% +1.99
DFUV Dimensional US Marketwide Va Add +13350.8% 2.41% +1.97
DFEM Dimensional Emrg MRKT Core New 1.60% +1.60
DFAS Dimensional US Small Cap ETF Add +3665.7% 2.85% +1.02
DFGR Dim Global Real Estate ETF New 0.64% +0.64
DFSU Dimensional US Sus CORE1 ETF New 0.50% +0.50
DFSI Dimensional Int Sus COR1 ETF New 0.44% +0.44
VCIT Vanguard Int-Term Corporate New 0.40% +0.40
SUSB iShares ESG Aware 1-5 Year U New 0.39% +0.39
DFAI Dimensional International Co. New 0.28% +0.28
DFSE Dimensional Em Sus CORE1 ETF New 0.23% +0.23
VOO Vanguard S&P 500 ETF New 0.20% +0.20
VCSH Vanguard S/T Corp. Bond ETF New 0.18% +0.18
VUSB Vanguard Ultra Short Bond Et New 0.16% +0.16
DFAE Dimensional Emerging Core Eq New 0.11% +0.11
NVDA Nvidia Corp. New 0.10% +0.10
JPM JPMorgan Chase & Co. New 0.08% +0.08
FORA Forian Inc. New 0.07% +0.07
FXL First Trust Technology Alpha New 0.06% +0.06
NVS Novartis AG-Sponsored ADR New 0.05% +0.05
GOOGL Alphabet Inc. Class A New 0.05% +0.05
DFAC Dimensional US Core Equity 2 New 0.05% +0.05
ORCL Oracle Corp. New 0.05% +0.05
SPY SS SPDR S&P 500 ETF Trust-US New 0.04% +0.04
XLE SS Energy Select Sector New 0.04% +0.04
UNH Unitedhealth Group Inc. New 0.03% +0.03
FXD First Trust Consumer Discret New 0.03% +0.03
EMXC iShares MSCI Emr MRK Ex Chna New 0.03% +0.03
ABBV Abbvie Inc. New 0.03% +0.03
TSLA Tesla Inc. New 0.03% +0.03
VGT Vanguard Info Tech ETF New 0.03% +0.03
COST Costco Wholesale Corp. New 0.03% +0.03
VTEB Vanguard Tax-Exempt Bond ETF New 0.03% +0.03
CHTR Charter Communications Inc. Class A New 0.02% +0.02
META Meta Platforms Inc. Class A New 0.02% +0.02
XOM Exxon Mobil Corp. New 0.02% +0.02
CSCO Cisco Systems Inc. New 0.02% +0.02
SPIB SS SPDR P Int C Corp. ETF New 0.02% +0.02
ACN Accenture PLC Class A New 0.02% +0.02
FHEQ Fidelity Hedged Equity ETF New 0.02% +0.02
GLD SPDR Gold Shares New 0.02% +0.02
MA Mastercard Inc. Class A New 0.01% +0.01
EXR Extra Space Storage Inc. New 0.01% +0.01
MPLX MPLX LP New 0.01% +0.01
WMT Walmart Inc. New 0.01% +0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 124$2.3BMBIN, DFCF, DFAU, DFIC, DFUS
Q1 2026 132$2.1BMBIN, DFCF, DFAU, DFIC, DFUS
Q4 2025 80$138.3MDFGX, LLY, AAPL, VOO, SCHX
Q3 2025 69$83.0MLLY, AAPL, VOO, SCHX, VTEB
Q2 2025Amended 68$80.2MLLY, AAPL, VOO, SCHX, BRO
Q1 2025 66$72.2MLLY, AAPL, VOO, BRO, SCHX
Q4 2024 110$1.7BMBIN, DFCF, DFAU, DFUS, DFIC
Q3 2024 62$68.9MLLY, AAPL, BRO, SCHA, SCHX
Q2 2024 98$598.6MDFCF, DFAU, DFUS, DFAS, DFIC