Kelman-Lazarov, Inc.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 9, 2024), Kelman-Lazarov, Inc. reported 104 stock positions worth $511.7 million. Its top holding was Schwab Fndmntl US LRG Co. ETF (FNDX) at 10.5% of the portfolio, followed by Vaneck Morningstar Wide Moat (MOAT, 9.6%) and Schwab US Large-Cap Growth (SCHG, 9.1%). Compared with Q4 2023, it opened 4 new positions, sold out of 2, added to 37 and reduced 44. The biggest buy was PIMCO Multisector Bond Actv (PYLD, shares +1514%) and the biggest sale SS Spdrb B 3-12M T-Bill ETF (BILS, shares −13%).

Most Recent 13F
Q2 2026
Location
MEMPHIS, TN
CIK
0001672067
Portfolio Value
$511.7M (Q1 2024)
SEC Filing
0001398344-24-009080 ↗ filed May 9, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $511.7M $511.7M Q1 2024 Q2 2024: $536.2M Q2 2024 Q3 2024: $581.2M Q3 2024 Q4 2024: $555.5M Q4 2024 Q1 2025: $550.9M Q1 2025 Q2 2025: $617.2M Q2 2025 Q3 2025: $674.5M Q3 2025 Q4 2025: $700.3M Q4 2025 Q1 2026: $697.6M Q1 2026 Q2 2026: $763.3M Q2 2026

Holdings 104 stocks · $511.7M
FNDX Schwab Fndmntl US LRG Co. ETF 10.54% 800,588 $54.0M Add +0.9%
MOAT Vaneck Morningstar Wide Moat 9.58% 545,010 $49.0M Add +0.7%
SCHG Schwab US Large-Cap Growth 9.09% 501,533 $46.5M Reduce -1.1%
GSLC Goldman Activebeta US LC ETF 7.70% 379,453 $39.4M Reduce -1.1%
GSIE Goldman Sachs Activebeta Int 6.33% 944,790 $32.4M Add +2.7%
STIP iShares 0-5 Year Tips Bond E 4.43% 227,977 $22.7M Add +3.6%
BOND PIMCO Active Bond Exchange-T 3.84% 213,832 $19.6M Add +5.5%
PYLD PIMCO Multisector Bond Actv 3.30% 655,013 $16.9M Add +1513.8%
FNDE Schwab Fndmntl Em MRK Eq ETF 3.09% 569,980 $15.8M Add +6.1%
BSV Vanguard Short-Term Bond ETF 3.08% 205,632 $15.8M Add +6.9%
IJR iShares Core S&P Small-Cap E 3.03% 140,360 $15.5M Add +11.8%
IJH iShares Core S&P Midcap ETF 2.84% 239,024 $14.5M Add +1.9%
BRK.B Berkshire Hathaway Inc. Class B 2.69% 32,789 $13.8M Reduce -2.2%
BILS SS Spdrb B 3-12M T-Bill ETF 2.63% 135,558 $13.5M Reduce -12.5%
GNMA iShares Gnma Bond ETF 2.28% 268,905 $11.7M Reduce -8.7%
SCHF Schwab Intl Equity ETF 1.65% 216,600 $8.5M Reduce -0.2%
MBB iShares MBS ETF 1.58% 87,755 $8.1M Add +30.9%
STPZ PIMCO 1-5 Year US Tips Index 1.43% 141,834 $7.3M Add +3.6%
MCH Matthews China Active ETF 1.34% 365,254 $6.9M Add +35.3%
AVEM Avantis Emerging Markets Eq 1.24% 109,446 $6.3M Reduce -1.8%
VTEB Vanguard Tax-Exempt Bond ETF 0.94% 94,689 $4.8M Add +6.5%
AVDE Avantis International Equity 0.89% 71,720 $4.6M Add +1.0%
MUNI PIMCO Intermediate Municipal 0.85% 82,717 $4.3M Add +1.8%
BIV Vanguard Intermediate-Term B 0.79% 53,835 $4.1M Reduce -6.5%
FNDC Schwab Fndmnt Intl SM Eq ETF 0.74% 107,309 $3.8M Add +6.0%
SMMU PIMCO SHRT TRM Muni BND ETF 0.73% 74,475 $3.7M Add +8.2%
VUG Vanguard Mrngstar GR ETF-Sui 0.65% 9,675 $3.3M Reduce -3.3%
SPY SS SPDR S&P 500 ETF Trust-US 0.64% 6,254 $3.3M Reduce -3.2%
RWL Invesco S&P 500 Revenue ETF 0.63% 34,501 $3.2M Reduce -0.1%
AAPL Apple Inc. 0.52% 15,373 $2.6M Reduce -3.1%
GOOGL Alphabet Inc. Class A 0.47% 15,913 $2.4M Reduce -0.4%
MA Mastercard Inc. Class A 0.40% 4,267 $2.1M Reduce -0.7%
QLTY GMO U.S. Quality ETF 0.37% 63,520 $1.9M New
MDY State Street SPDR S&P Midcap 0.37% 3,384 $1.9M No change
SPMD SS SPDR P S&P 400 Midcap ETF 0.36% 34,898 $1.9M Reduce -1.6%
FNDA Schwab Fndmntl US SM Co. ETF 0.36% 31,934 $1.8M Reduce -1.0%
FDX FedEx Corp. 0.33% 5,884 $1.7M Reduce -8.1%
GEM Goldman Sachs Activebeta Em 0.33% 54,259 $1.7M Reduce -4.9%
IVV iShares Core S&P 500 ETF 0.32% 3,120 $1.6M Add +9.5%
GBIL Goldman Sachs Access Treasur 0.31% 15,675 $1.6M Reduce -8.0%
EMB iShares JP Morgan Usd Emergi 0.31% 17,578 $1.6M Add +4.7%
VTV Vanguard Mrngstr Val ETF-Aui 0.29% 9,047 $1.5M Reduce -3.3%
VCSH Vanguard S/T Corp. Bond ETF 0.28% 18,438 $1.4M Add +2.0%
YUM Yum! Brands Inc. 0.27% 10,000 $1.4M Add +0.1%
MSFT Microsoft Corp. 0.27% 3,287 $1.4M Add +1.9%
VIG Vanguard Dividend Apprec ETF 0.25% 6,973 $1.3M No change
BRK.A Berkshire Hathaway Inc. Class A 0.25% 2 $1.3M No change
TSLA Tesla Inc. 0.24% 6,881 $1.2M Reduce -0.1%
IYY iShares Dow Jones U.S. ETF 0.22% 8,850 $1.1M No change
SCHM Schwab US Mid Cap ETF 0.22% 13,913 $1.1M Add +8.1%
MCHI iShares MSCI China ETF 0.21% 27,163 $1.1M Add +4.1%
NSC Norfolk Southern Corp. 0.21% 4,122 $1.1M Reduce -6.8%
DIA SS SPDR Dow Jones Indus Avg filed as SPDR DOW JONES INDL AVERAGE 0.19% 2,426 $965K No change
PG The Procter & Gamble Co. 0.15% 4,734 $768K Reduce -9.4%
NFLX Netflix Inc. 0.15% 1,254 $762K Reduce -0.6%
AIVL Wisdomtree US AI Enhanced Va 0.14% 7,031 $716K No change
WMT Walmart Inc. 0.14% 11,847 $713K Add +0.5%
JNJ Johnson & Johnson 0.13% 4,258 $674K Add +0.3%
NUBD Nuveen ESG US Aggregate Bond 0.13% 29,170 $641K Reduce -0.9%
IVE iShares S&P 500 Value ETF 0.12% 3,405 $636K No change
GOOG Alphabet Inc. Class C 0.12% 4,169 $635K No change
XOM Exxon Mobil Corp. 0.12% 5,306 $617K Reduce -0.7%
FNDF Schwab Fndmn Intl LRG Co. ETF 0.12% 16,664 $593K Reduce -0.2%
IBB iShares Biotechnology ETF 0.11% 4,133 $567K Reduce -9.4%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.11% 2,268 $567K Reduce -0.8%
ESGD iShares Trust iShares ESG Aw 0.11% 6,840 $547K Reduce -0.4%
NULV Nuveen ESG Large-Cap Val ETF 0.11% 13,975 $543K Add +1.5%
HD Home Depot Inc. 0.10% 1,362 $522K Add +1.3%
AMZN Amazon.com Inc. 0.10% 2,883 $520K Add +2.5%
MOTE Vaneck Morningstar ESG Moat 0.10% 18,038 $489K Reduce -2.0%
IWB iShares Russell 1000 ETF 0.10% 1,688 $486K Add +2.9%
CNI Canadian Natl Railway Co. 0.09% 3,351 $441K Reduce -23.0%
SCHZ Schwab US Aggregate Bond ETF 0.08% 9,421 $433K Reduce -1.8%
SPTM SS SPDR P S&P 1500 Comp ETF 0.08% 6,699 $430K Reduce -3.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.08% 3,488 $427K Reduce -2.6%
MKC McCormick & Co.-Non VTG SHRS 0.08% 5,469 $420K Add +0.1%
SCHV Schwab US Large-Cap Value 0.08% 5,384 $409K Reduce -10.3%
SCHA Schwab US Small-Cap ETF 0.08% 8,010 $394K Add +4.6%
TSCO Tractor Supply Company 0.08% 1,504 $394K No change
UNH Unitedhealth Group Inc. 0.07% 764 $378K No change
NULG Nuveen ESG LRG-Cap GRW ETF 0.07% 4,723 $360K Reduce -10.5%
AXP American Express Co. 0.07% 1,579 $360K No change
MRK Merck & Co. Inc. 0.06% 2,496 $329K Add +0.2%
ISTB iShares Core 1-5 Year Usd Bo 0.06% 6,736 $320K No change
DLN Wisdomtree US Largecap Divid 0.06% 4,076 $294K Reduce -34.0%
LOW Lowe's Cos Inc. 0.06% 1,106 $282K No change
AVSD Avantis Reps Intern Equi ETF 0.05% 4,921 $280K No change
QCOM Qualcomm Inc. 0.05% 1,631 $276K Add +0.2%
SPYG SS SPDR P S&P 500 Growth ETF 0.05% 3,659 $268K No change
PEP Pepsico Inc. 0.05% 1,522 $266K Reduce -28.5%
IWF iShares Russell 1000 Growth 0.05% 785 $265K No change
SUSB iShares ESG Aware 1-5 Year U 0.05% 10,381 $254K Add +7.5%
SUSA iShares ESG Optimized MSCI U 0.05% 2,327 $254K Reduce -2.1%
PFE Pfizer Inc. 0.05% 9,082 $252K Reduce -1.0%
AVSU Avantis Resp US Equity ETF 0.05% 4,006 $246K No change
PTRB Pgim Total Return Bond ETF 0.05% 5,721 $238K Reduce -1.0%
XLG Invesco S&P 500 Top 50 ETF 0.05% 5,500 $232K No change
ILCG iShares Morningstar Growth E 0.05% 3,061 $231K No change
JPM JPMorgan Chase & Co. 0.04% 1,127 $226K New
PKW Invesco Buyback Achievers Et 0.04% 1,980 $214K Reduce -27.7%

Show all 104 holdings

Portfolio Sells Q4 2023 → Q1 2024
BILS SS Spdrb B 3-12M T-Bill ETF Reduce -12.5% 2.63% −0.69
GNMA iShares Gnma Bond ETF Reduce -8.7% 2.28% −0.54
BIV Vanguard Intermediate-Term B Reduce -6.5% 0.79% −0.16
AAPL Apple Inc. Reduce -3.1% 0.52% −0.15
TSLA Tesla Inc. Reduce -0.1% 0.24% −0.13
AVEM Avantis Emerging Markets Eq Reduce -1.8% 1.24% −0.12
GSLC Goldman Activebeta US LC ETF Reduce -1.1% 7.70% −0.10
SCHF Schwab Intl Equity ETF Reduce -0.2% 1.65% −0.08
AMT American Tower Corp. Sold out 0.00% −0.08
GBIL Goldman Sachs Access Treasur Reduce -8.0% 0.31% −0.06
GEM Goldman Sachs Activebeta Em Reduce -4.9% 0.33% −0.05
ATO Atmos Energy Corp. Sold out 0.00% −0.04
CNI Canadian Natl Railway Co. Reduce -23.0% 0.09% −0.03
DLN Wisdomtree US Largecap Divid Reduce -34.0% 0.06% −0.03
FNDA Schwab Fndmntl US SM Co. ETF Reduce -1.0% 0.36% −0.03
PEP Pepsico Inc. Reduce -28.5% 0.05% −0.03
SPY SS SPDR S&P 500 ETF Trust-US Reduce -3.2% 0.64% −0.03
IBB iShares Biotechnology ETF Reduce -9.4% 0.11% −0.02
VUG Vanguard Mrngstar GR ETF-Sui Reduce -3.3% 0.65% −0.02
NSC Norfolk Southern Corp. Reduce -6.8% 0.21% −0.02
FDX FedEx Corp. Reduce -8.1% 0.33% −0.02
PKW Invesco Buyback Achievers Et Reduce -27.7% 0.04% −0.02
NUBD Nuveen ESG US Aggregate Bond Reduce -0.9% 0.13% −0.02
PG The Procter & Gamble Co. Reduce -9.4% 0.15% −0.02
VTV Vanguard Mrngstr Val ETF-Aui Reduce -3.3% 0.29% −0.01
SCHG Schwab US Large-Cap Growth Reduce -1.1% 9.09% −0.01
GOOGL Alphabet Inc. Class A Reduce -0.4% 0.47% −0.01
SCHZ Schwab US Aggregate Bond ETF Reduce -1.8% 0.08% −0.01
SCHV Schwab US Large-Cap Value Reduce -10.3% 0.08% −0.01
SPMD SS SPDR P S&P 400 Midcap ETF Reduce -1.6% 0.36% −0.01
NULG Nuveen ESG LRG-Cap GRW ETF Reduce -10.5% 0.07% −0.01
PFE Pfizer Inc. Reduce -1.0% 0.05% −0.01
RWL Invesco S&P 500 Revenue ETF Reduce -0.1% 0.63% −0.01
MOTE Vaneck Morningstar ESG Moat Reduce -2.0% 0.10% −0.01
PTRB Pgim Total Return Bond ETF Reduce -1.0% 0.05% −0.01
FNDF Schwab Fndmn Intl LRG Co. ETF Reduce -0.2% 0.12% −0.01
VOO Vanguard S&P 500 ETF Reduce -12.3% 0.04% −0.01
ESGD iShares Trust iShares ESG Aw Reduce -0.4% 0.11% −0.01
VO Vngrd Mrngstr MD-Cap ETF-Usd Reduce -0.8% 0.11% −0.00
SPTM SS SPDR P S&P 1500 Comp ETF Reduce -3.3% 0.08% −0.00
SUSA iShares ESG Optimized MSCI U Reduce -2.1% 0.05% −0.00
MA Mastercard Inc. Class A Reduce -0.7% 0.40% +0.00
XOM Exxon Mobil Corp. Reduce -0.7% 0.12% +0.00
DIS The Walt Disney Co. Reduce -2.6% 0.08% +0.01
NFLX Netflix Inc. Reduce -0.6% 0.15% +0.02
BRK.B Berkshire Hathaway Inc. Class B Reduce -2.2% 2.69% +0.11

Portfolio Buys Q4 2023 → Q1 2024
PYLD PIMCO Multisector Bond Actv Add +1513.8% 3.30% +3.07
QLTY GMO U.S. Quality ETF New 0.37% +0.37
MCH Matthews China Active ETF Add +35.3% 1.34% +0.23
MBB iShares MBS ETF Add +30.9% 1.58% +0.22
IJR iShares Core S&P Small-Cap E Add +11.8% 3.03% +0.09
JPM JPMorgan Chase & Co. New 0.04% +0.04
V Visa Inc. Class A New 0.04% +0.04
AZO AutoZone Inc. New 0.04% +0.04
IVV iShares Core S&P 500 ETF Add +9.5% 0.32% +0.03
IJH iShares Core S&P Midcap ETF Add +1.9% 2.84% +0.02
SCHM Schwab US Mid Cap ETF Add +8.1% 0.22% +0.01
AMZN Amazon.com Inc. Add +2.5% 0.10% +0.01
MSFT Microsoft Corp. Add +1.9% 0.27% +0.01
MRK Merck & Co. Inc. Add +0.2% 0.06% +0.01
WMT Walmart Inc. Add +0.5% 0.14% +0.01
QCOM Qualcomm Inc. Add +0.2% 0.05% +0.00
IWB iShares Russell 1000 ETF Add +2.9% 0.10% +0.00
HD Home Depot Inc. Add +1.3% 0.10% +0.00
MKC McCormick & Co.-Non VTG SHRS Add +0.1% 0.08% +0.00
NULV Nuveen ESG Large-Cap Val ETF Add +1.5% 0.11% −0.00
SCHA Schwab US Small-Cap ETF Add +4.6% 0.08% −0.00
SUSB iShares ESG Aware 1-5 Year U Add +7.5% 0.05% −0.00
AMGN Amgen Inc. Add +1.4% 0.04% −0.00
YUM Yum! Brands Inc. Add +0.1% 0.27% −0.01
JNJ Johnson & Johnson Add +0.3% 0.13% −0.01
EMB iShares JP Morgan Usd Emergi Add +4.7% 0.31% −0.02
SMMU PIMCO SHRT TRM Muni BND ETF Add +8.2% 0.73% −0.02
MCHI iShares MSCI China ETF Add +4.1% 0.21% −0.02
FNDC Schwab Fndmnt Intl SM Eq ETF Add +6.0% 0.74% −0.02
VCSH Vanguard S/T Corp. Bond ETF Add +2.0% 0.28% −0.02
AVDE Avantis International Equity Add +1.0% 0.89% −0.04
VTEB Vanguard Tax-Exempt Bond ETF Add +6.5% 0.94% −0.05
FNDE Schwab Fndmntl Em MRK Eq ETF Add +6.1% 3.09% −0.06
MUNI PIMCO Intermediate Municipal Add +1.8% 0.85% −0.08
STPZ PIMCO 1-5 Year US Tips Index Add +3.6% 1.43% −0.09
FNDX Schwab Fndmntl US LRG Co. ETF Add +0.9% 10.54% −0.10
BSV Vanguard Short-Term Bond ETF Add +6.9% 3.08% −0.13
GSIE Goldman Sachs Activebeta Int Add +2.7% 6.33% −0.17
BOND PIMCO Active Bond Exchange-T Add +5.5% 3.84% −0.22
STIP iShares 0-5 Year Tips Bond E Add +3.6% 4.43% −0.27
MOAT Vaneck Morningstar Wide Moat Add +0.7% 9.58% −0.37

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 154$763.3MFNDX, SCHG, MOAT, SPYM, STIP
Q1 2026 140$697.6MFNDX, SCHG, MOAT, SPYM, STIP
Q4 2025 134$700.3MFNDX, SCHG, MOAT, SPYM, STIP
Q3 2025 132$674.5MFNDX, SCHG, MOAT, GSIE, SPYM
Q2 2025 122$617.2MFNDX, SCHG, MOAT, GSIE, GSLC
Q1 2025 116$550.9MFNDX, MOAT, SCHG, GSIE, GSLC
Q4 2024 109$555.5MFNDX, SCHG, MOAT, GSLC, GSIE
Q3 2024 109$581.2MFNDX, MOAT, SCHG, GSLC, GSIE
Q2 2024 106$536.2MFNDX, SCHG, MOAT, GSLC, GSIE
Q1 2024 104$511.7MFNDX, MOAT, SCHG, GSLC, GSIE