SEC 13F Intelligence

Managers / Q4 2022 · view latest →

Elm Partners Management LLC

CIK 0001743941 · 50 S 16TH ST., SUITE 1700, PHILADELPHIA, PA, 19102 · (800) 459-7591

Reported Value
$864M
Q4 2022
Positions
35
Filings on Record
31
2019–present window
Filed
Jan 26, 2023
original filing

Summary

Elm Partners Management LLC reported $864M in U.S.-listed holdings across 35 positions for Q4 2022.

The portfolio is heavily concentrated: Spdr Bloomberg 1 3 Month T Bill Etf alone accounts for 26.6% of reported value.

Compared with Q3 2022, the fund opened 1 new position and exited 2.

Portfolio Metrics

Turnover
+4.7%
vs prior filed quarter
Top-10 Concentration
+83.7%
share of reported value
Largest Position
+26.6%
Spdr Bloomberg 1 3 Month T Bill Etf
New / Exited
1 / 2
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $290MQ4 ’18Q1 ’19: $374MQ2 ’19: $447MQ3 ’19: $442MQ4 ’19: $457MQ4 ’19Q1 ’20: $455MQ2 ’20: $560MQ3 ’20: $594MQ4 ’20: $669MQ4 ’20Q1 ’21: $703MQ2 ’21: $760MQ3 ’21: $749MQ4 ’21: $811MQ4 ’21Q1 ’22: $791MQ2 ’22: $767MQ3 ’22: $741MQ4 ’22: $864MQ4 ’22Q1 ’23: $951MQ2 ’23: $993MQ3 ’23: $967MQ4 ’23: $1.1BQ4 ’23Q1 ’24: $1.3BQ2 ’24: $1.3BQ3 ’24: $1.4BQ4 ’24: $1.5BQ4 ’24Q1 ’25: $1.6BQ2 ’25: $1.7BQ3 ’25: $2.0BQ4 ’25: $2.2BQ4 ’25Q1 ’26: $2.3Bfilingsflow.com

Portfolio Composition

By security type
ETP: 100.0%
  • ETP · 100.0% · $864M

Quarter-over-Quarter Changes full breakdown →

vs Q3 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
Vanguard FTSE All-World ex-US ETFNEW+55.9K55.9K+$3M$3M
Schwab US TIPS ETFADDED+103.5K144.7K+$5M$7M
Xtrackers USD High Yield Corporate Bond ETFADDED+185.7K328.9K+$6M$11M
iShares iBoxx $ Investment Grade Corporate Bond ETFSOLD OUT−5.7K0−$579,000$0
SPDR S&P 500 ETF TrustSOLD OUT−6960−$249,000$0
Schwab U.S. REIT ETFTRIMMED−354.2K86.4K−$7M$2M
iShares iBoxx High Yield Corporate Bond ETFADDED+5.9K13.3K+$450,625$978,625
Vanguard Total Bond Market ETFADDED+94.6K220.1K+$7M$16M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2022

34 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1SPDR Bloomberg 1-3 Month T-Bill ETFETF26.55%$230M2.51M
2VGSHVanguard Short-Term Treasury ETFhistory →ETF11.63%$101M1.74M
3Vanguard FTSE Emerging Markets ETFETF8.08%$70M1.79M
4iShares Core MSCI Emerging Markets ETFETF7.99%$69M1.48M
5Vanguard Total Stock Market ETFETF7.04%$61M318.4K
6Vanguard FTSE Europe ETFETF6.79%$59M1.06M
7iShares Core S&P Total US Stock Market ETFETF4.79%$41M488.6K
8Vanguard FTSE Pacific ETFETF4.08%$35M548.0K
9iShares Core MSCI Europe ETFETF3.60%$31M655.9K
10iShares Core MSCI Pacific ETFETF3.18%$27M512.2K
11Vanguard Total Bond Market ETFETF1.83%$16M220.1K
12iShares National Muni Bond ETFETF1.52%$13M124.6K
13JPMorgan BetaBuilders Canada ETFETF1.45%$13M218.9K
14Xtrackers USD High Yield Corporate Bond ETFETF1.28%$11M328.9K
15iShares Core S&P 500 ETFETF1.23%$11M27.7K
16Vanguard S&P 500 ETFETF1.20%$10M29.6K
17Vanguard Global ex-U.S. Real Estate ETFETF1.20%$10M250.1K
18Vanguard Small-Cap ETFETF1.07%$9M50.4K
19Schwab US TIPS ETFETF0.87%$7M144.7K
20VTVVanguard Value ETFETF0.80%$7M49.2K
21IAU*iShares Gold TrustETF0.75%$6M186.4K
22iShares MSCI Canada ETFETF0.69%$6M183.3K
23iShares MSCI EAFE Small-Cap ETFETF0.43%$4M65.5K
24Vanguard Real Estate ETFETF0.39%$3M40.9K
25Vanguard FTSE All-World ex-US ETFETF0.32%$3M55.9K
26iShares Core S&P U.S. Value ETFETF0.25%$2M30.2K
27iShares Core S&P Small-Cap ETFETF0.23%$2M21.4K
28Schwab International Small-Cap Equity ETFETF0.23%$2M62.3K
29Schwab U.S. REIT ETFETF0.19%$2M86.4K
30iShares iBoxx High Yield Corporate Bond ETFETF0.11%$978,62513.3K
31iShares TIPS Bond ETFETF0.07%$643,4306.0K
32Schwab US Broad Market ETFETF0.07%$596,37613.3K
33iShares Russell 1000 Value ETFETF0.04%$309,5182.0K
34iShares Core U.S. Aggregate Bond ETFETF0.03%$283,1142.9K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$2.3B158May 13, 202613F-HRchanges · EDGAR ↗
Q4 2025$2.2B154Feb 10, 202613F-HRchanges · EDGAR ↗
Q3 2025$2.0B149Nov 4, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.7B97Aug 5, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.6B66May 13, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.5B68Feb 13, 202513F-HRchanges · EDGAR ↗
Q3 2024$1.4B60Nov 7, 202413F-HRchanges · EDGAR ↗
Q2 2024$1.3B60Jul 31, 202413F-HRchanges · EDGAR ↗
Q1 2024$1.3B61Apr 30, 202413F-HRchanges · EDGAR ↗
Q4 2023$1.1B52Jan 29, 202413F-HRchanges · EDGAR ↗
Q3 2023$967M47Oct 24, 202313F-HRchanges · EDGAR ↗
Q2 2023$993M41Jul 19, 202313F-HRchanges · EDGAR ↗
Q1 2023$951M39Apr 18, 202313F-HRchanges · EDGAR ↗
Q4 2022$864M35Jan 26, 202313F-HRchanges · EDGAR ↗
Q3 2022$741M36Oct 18, 202213F-HRchanges · EDGAR ↗
Q2 2022$767M32Jul 18, 202213F-HRchanges · EDGAR ↗
Q1 2022$791M51Apr 21, 202213F-HRchanges · EDGAR ↗
Q4 2021$811M33Jan 21, 202213F-HRchanges · EDGAR ↗
Q3 2021$749M35Oct 26, 2021RESTATEMENTchanges · EDGAR ↗
Q2 2021$760M42Jul 19, 202113F-HRchanges · EDGAR ↗
Q1 2021$703M42Apr 26, 202113F-HRchanges · EDGAR ↗
Q4 2020$669M41Jan 19, 202113F-HRchanges · EDGAR ↗
Q3 2020$594M42Oct 19, 202013F-HRchanges · EDGAR ↗
Q2 2020$560M45Jul 22, 202013F-HRchanges · EDGAR ↗
Q1 2020$455M41May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$457M42Feb 14, 202013F-HRchanges · EDGAR ↗
Q3 2019$442M41Nov 14, 201913F-HRchanges · EDGAR ↗
Q2 2019$447M41Aug 8, 201913F-HRchanges · EDGAR ↗
Q1 2019$374M39May 14, 201913F-HRchanges · EDGAR ↗
Q4 2018$290M31Jan 11, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.