KM Capital Management Ltd.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), KM Capital Management Ltd. reported 47 stock positions worth $195.7 million. Its top holding was Dimensional US Eq MKT ETF (DFUS) at 17.3% of the portfolio, followed by iShares Core S&P Total U.S. (ITOT, 11.2%) and Dimensional International Va (DFIV, 7.4%). Compared with Q3 2025, it opened 3 new positions, sold out of 8, added to 19 and reduced 22. The biggest buy was iShares Gold Trust (IAU, shares +16%) and the biggest sale an exit from Invesco QQQ Trust Series 1 (QQQ).
- Most Recent 13F
- Q2 2026
- Location
- AUSTIN, TX
- CIK
- 0001963514
- Portfolio Value
- $195.7M (Q4 2025)
- SEC Filing
- 0001963514-26-000001 ↗ filed Feb 17, 2026
Holdings Value
Holdings 47 stocks · $195.7M
| DFUS Dimensional US Eq MKT ETF | 17.28% | 456,057 | $33.8M | Reduce -16.8% |
| ITOT iShares Core S&P Total U.S. | 11.19% | 147,271 | $21.9M | Reduce -21.2% |
| DFIV Dimensional International Va | 7.41% | 290,623 | $14.5M | Reduce -2.1% |
| IAU iShares Gold Trust | 6.89% | 70,432 | $13.5M | Add +15.6% |
| IWL iShares Russell Top 200 ETF | 6.78% | 77,787 | $13.3M | Reduce -14.1% |
| IEMG iShares Core MSCI Emerging | 5.18% | 150,873 | $10.1M | Add +20.9% |
| DYNF Ishrs US E F R A ETF-Usd Inc. | 4.20% | 135,072 | $8.2M | Reduce -17.7% |
| LRGF iShares US Equity Factor ETF | 3.21% | 90,582 | $6.3M | Add +0.2% |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | 3.05% | 225,788 | $6.0M | Reduce -7.3% |
| QUAL iShares MSCI USA Quality Fac | 2.95% | 29,119 | $5.8M | Reduce -5.7% |
| BRHY iShares High Yild Active ETF | 2.59% | 104,332 | $5.1M | New |
| OEF iShares S&P 100 ETF | 2.50% | 14,266 | $4.9M | Reduce -23.7% |
| THRO iShares U.S. Thematic Rotati | 2.23% | 113,258 | $4.4M | Reduce -21.4% |
| JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F | 1.95% | 74,766 | $3.8M | Reduce -6.5% |
| IWB iShares Russell 1000 ETF | 1.72% | 9,033 | $3.4M | Add +2.0% |
| IEV iShares Europe ETF | 1.71% | 48,858 | $3.4M | Reduce -24.7% |
| ITA iShares U.S. Aerospace & Def | 1.57% | 14,328 | $3.1M | Add +53.5% |
| TLT iShares 20+ Year Treasury BD | 1.47% | 33,048 | $2.9M | Add +15.7% |
| ONEQ Fidelity Nasdaq Comp Indx | 1.29% | 27,564 | $2.5M | Reduce -41.7% |
| IYR iShares US Real Estate ETF | 1.20% | 24,974 | $2.3M | Reduce -0.1% |
| DFAC Dimensional US Core Equity 2 | 1.19% | 58,675 | $2.3M | Add +0.2% |
| BAI Ishrs AI in and Tech Act ETF | 1.17% | 68,681 | $2.3M | New |
| IBIT iShares Bitcoin Trust ETF | 1.14% | 44,835 | $2.2M | Add +29.2% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 1.03% | 6,400 | $2.0M | Reduce -0.4% |
| EFG iShares MSCI Eafe Growth ETF | 0.85% | 14,591 | $1.7M | Reduce -12.3% |
| IETC iShares U.S. Tech Independen | 0.82% | 15,822 | $1.6M | No change |
| SPYG SS SPDR P S&P 500 Growth ETF | 0.77% | 14,196 | $1.5M | Add +1.4% |
| IYW iShares Ustechnology ETF | 0.73% | 7,178 | $1.4M | Add +390.0% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.62% | 26,690 | $1.2M | No change |
| MUB iShares National Muni Bond E | 0.61% | 11,077 | $1.2M | Add +3.7% |
| DFAX Dimensional World Ex US Core | 0.59% | 35,379 | $1.2M | Reduce -8.7% |
| SPYV SS SPDR P S&P 500 Value ETF | 0.50% | 17,181 | $976K | Add +27.9% |
| EMXC iShares MSCI Emr MRK Ex Chna | 0.45% | 12,195 | $886K | Reduce -25.1% |
| DFGR Dim Global Real Estate ETF | 0.40% | 29,670 | $784K | Reduce -49.0% |
| ICSH iShares Ultra Short Duration | 0.37% | 14,412 | $729K | Add +3.7% |
| IVV iShares Core S&P 500 ETF | 0.33% | 939 | $643K | Add +19.9% |
| DFAS Dimensional US Small Cap ETF | 0.30% | 8,422 | $587K | Reduce -5.5% |
| IYJ iShares U.S. Industrials ETF | 0.26% | 3,444 | $510K | New |
| EMGF iShares Emerging Markets Equ | 0.23% | 7,915 | $458K | Add +23.2% |
| MEAR Ishrs Short Mat Muni Act ETF | 0.23% | 9,066 | $456K | Reduce -4.7% |
| SPEM State Street SP PTF Em ETF | 0.21% | 8,828 | $413K | Add +33.5% |
| GOVT iShares US Treasury Bond ETF | 0.18% | 15,373 | $354K | No change |
| DFAI Dimensional International Co. | 0.17% | 8,956 | $341K | Add +0.5% |
| VTI VG Morningstar TS MKT ETF-US | 0.13% | 739 | $248K | Add +0.4% |
| IXUS iShares Core Intl Stock ETF | 0.12% | 2,776 | $235K | Add +1.9% |
| VCSH Vanguard S/T Corp. Bond ETF | 0.11% | 2,678 | $213K | Reduce -31.4% |
| SPHQ Invesco S&P 500 Quality ETF | 0.10% | 2,707 | $203K | Reduce -36.5% |
Portfolio Sells Q3 2025 → Q4 2025
| QQQ Invesco QQQ Trust Series 1 | Sold out | 0.00% | −5.53 |
| HIMU iShares High Yild Muni A ETF | Sold out | 0.00% | −2.79 |
| ITOT iShares Core S&P Total U.S. | Reduce -21.2% | 11.19% | −1.39 |
| DFUS Dimensional US Eq MKT ETF | Reduce -16.8% | 17.28% | −1.07 |
| DMAX iShares LG Cap Max Buff Dec | Sold out | 0.00% | −0.67 |
| ONEQ Fidelity Nasdaq Comp Indx | Reduce -41.7% | 1.29% | −0.66 |
| OEF iShares S&P 100 ETF | Reduce -23.7% | 2.50% | −0.38 |
| DFGR Dim Global Real Estate ETF | Reduce -49.0% | 0.40% | −0.33 |
| DYNF Ishrs US E F R A ETF-Usd Inc. | Reduce -17.7% | 4.20% | −0.30 |
| THRO iShares U.S. Thematic Rotati | Reduce -21.4% | 2.23% | −0.29 |
| USMV iShares MSCI USA Min Vol Fac | Sold out | 0.00% | −0.27 |
| IEV iShares Europe ETF | Reduce -24.7% | 1.71% | −0.25 |
| CMF iShares California Muni Bond | Sold out | 0.00% | −0.24 |
| IVVB iShares Large Cap Deep Quart | Sold out | 0.00% | −0.22 |
| IWL iShares Russell Top 200 ETF | Reduce -14.1% | 6.78% | −0.17 |
| AVUV Avantis US Small Cap Value | Sold out | 0.00% | −0.15 |
| TCAF T Rowe PRC Cap Appreciation | Sold out | 0.00% | −0.13 |
| EMXC iShares MSCI Emr MRK Ex Chna | Reduce -25.1% | 0.45% | −0.06 |
| SPHQ Invesco S&P 500 Quality ETF | Reduce -36.5% | 0.10% | −0.04 |
| VCSH Vanguard S/T Corp. Bond ETF | Reduce -31.4% | 0.11% | −0.04 |
| EFG iShares MSCI Eafe Growth ETF | Reduce -12.3% | 0.85% | −0.03 |
| MEAR Ishrs Short Mat Muni Act ETF | Reduce -4.7% | 0.23% | +0.01 |
| DFAS Dimensional US Small Cap ETF | Reduce -5.5% | 0.30% | +0.02 |
| SPTL SS SPDR PF LNG TRM TSY E-Usd | Reduce -7.3% | 3.05% | +0.02 |
| DFAX Dimensional World Ex US Core | Reduce -8.7% | 0.59% | +0.03 |
| JMST JPM Ultra-Short Muni Income | Reduce -6.5% | 1.95% | +0.06 |
| IYR iShares US Real Estate ETF | Reduce -0.1% | 1.20% | +0.08 |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | Reduce -0.4% | 1.03% | +0.12 |
| QUAL iShares MSCI USA Quality Fac | Reduce -5.7% | 2.95% | +0.18 |
| DFIV Dimensional International Va | Reduce -2.1% | 7.41% | +1.08 |
Portfolio Buys Q3 2025 → Q4 2025
| IAU iShares Gold Trust | Add +15.6% | 6.89% | +4.84 |
| BRHY iShares High Yild Active ETF | New | 2.59% | +2.59 |
| IEMG iShares Core MSCI Emerging | Add +20.9% | 5.18% | +1.38 |
| BAI Ishrs AI in and Tech Act ETF | New | 1.17% | +1.17 |
| ITA iShares U.S. Aerospace & Def | Add +53.5% | 1.57% | +0.67 |
| IYW iShares Ustechnology ETF | Add +390.0% | 0.73% | +0.60 |
| LRGF iShares US Equity Factor ETF | Add +0.2% | 3.21% | +0.33 |
| TLT iShares 20+ Year Treasury BD | Add +15.7% | 1.47% | +0.29 |
| IYJ iShares U.S. Industrials ETF | New | 0.26% | +0.26 |
| IWB iShares Russell 1000 ETF | Add +2.0% | 1.72% | +0.23 |
| SPYV SS SPDR P S&P 500 Value ETF | Add +27.9% | 0.50% | +0.16 |
| DFAC Dimensional US Core Equity 2 | Add +0.2% | 1.19% | +0.14 |
| SPYG SS SPDR P S&P 500 Growth ETF | Add +1.4% | 0.77% | +0.10 |
| IBIT iShares Bitcoin Trust ETF | Add +29.2% | 1.14% | +0.09 |
| IVV iShares Core S&P 500 ETF | Add +19.9% | 0.33% | +0.09 |
| MUB iShares National Muni Bond E | Add +3.7% | 0.61% | +0.08 |
| SPEM State Street SP PTF Em ETF | Add +33.5% | 0.21% | +0.07 |
| EMGF iShares Emerging Markets Equ | Add +23.2% | 0.23% | +0.07 |
| ICSH iShares Ultra Short Duration | Add +3.7% | 0.37% | +0.05 |
| DFAI Dimensional International Co. | Add +0.5% | 0.17% | +0.02 |
| IXUS iShares Core Intl Stock ETF | Add +1.9% | 0.12% | +0.02 |
| VTI VG Morningstar TS MKT ETF-US | Add +0.4% | 0.13% | +0.01 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 48 | $212.8M | DFUS, LMUB, ITOT, DFIV, IWL |
| Q1 2026 | 76 | $148.6M | DFUS, LMUB, DFIV, IEMG, QQQ |
| Q4 2025 | 47 | $195.7M | DFUS, ITOT, DFIV, IAU, IWL |
| Q3 2025 | 52 | $216.3M | DFUS, ITOT, IWL, DFIV, QQQ |
| Q2 2025 | 56 | $202.6M | DFUS, ITOT, IWL, DFIV, QQQ |
| Q1 2025 | 54 | $185.6M | DFUS, ITOT, IWL, DFIV, QQQ |
| Q4 2024 | 45 | $193.2M | DFUS, ITOT, IWL, QQQ, EMXC |
| Q3 2024 | 44 | $187.1M | DFUS, ITOT, IWL, EMXC, QQQ |
| Q2 2024 | 43 | $193.2M | DFUS, ITOT, IWL, EMXC, QQQ |
| Q1 2024 | 41 | $180.4M | DFUS, ITOT, IWL, DFIV, QQQ |