SEC 13F Intelligence

Managers / Q1 2023 · view latest →

Elm Partners Management LLC

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

Reported Value
$951M
Q1 2023
Positions
39
Filings on Record
31
2019–present window
Filed
Apr 18, 2023
original filing

Summary

Elm Partners Management LLC reported $951M in U.S.-listed holdings across 39 positions for Q1 2023.

Its largest position, Spdr, represents 19.9% of the portfolio.

Compared with Q4 2022, the fund opened 5 new positions and exited 0.

Portfolio Metrics

Turnover
+13.1%
vs prior filed quarter
Top-10 Concentration
+77.3%
share of reported value
Largest Position
+19.9%
Spdr

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% · $951M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2022 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
ISHARES TRNEW+88.1K88.1K+$9M$9M
VANGUARD MUN BD FDSNEW+44.2K44.2K+$2M$2M
ISHARES TRNEW+17.8K17.8K+$2M$2M
SCHWAB STRATEGIC TRNEW+22.5K22.5K+$943,422$943,422
VANGUARD INTL EQUITY INDEX FNEW+3.7K3.7K+$399,600$399,600
SCHWAB STRATEGIC TRADDED+784.7K929.4K+$42M$50M
ISHARES TRADDED+4.5K7.4K+$457,350$740,464
VANGUARD INDEX FDSADDED+60.4K101.4K+$5M$8M

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

Holdings — Q1 2023

12 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VANGUARD INTL EQUITY INDEX FFTSE EUROPE ETF · FTSE EMR MKT ETF · FTSE PACIFIC ETF · GLB EX US ETF · ALLWRLD EX US · FTSE SMCAP ETF24.48%$233M4.51M
2SPDR SER TRBLOOMBERG 1-3 MO19.89%$189M2.06M
3ISHARES TRCORE S&P TTL STK · CORE MSCI EURO · CORE MSCI PAC · NATIONAL MUN ETF · 0-5 YR TIPS ETF · CORE S&P500 ETF · CORE S&P US VLU · EAFE SML CP ETF · CORE S&P SCP ETF · IBOXX INV CP ETF · IBOXX HI YD ETF · CORE US AGGBD ET · TIPS BD ETF · RUS 1000 VAL ETF17.93%$170M2.31M
4VTVVANGUARD INDEX FDShistory →TOTAL STK MKT · S&P 500 ETF SHS · SMALL CP ETF · REAL ESTATE ETF · VALUE ETF11.51%$109M588.1K
5ISHARES INCCORE MSCI EMKT · MSCI CDA ETF8.83%$84M1.78M
6SCHWAB STRATEGIC TRUS TIPS ETF · INTL SCEQT ETF · US REIT ETF · US SML CAP ETF · US BRD MKT ETF5.80%$55M1.11M
7VGSHVANGUARD SCOTTSDALE FDShistory →SHORT TERM TREAS3.04%$29M493.8K
8VANGUARD BD INDEX FDSTOTAL BND MRKT2.91%$28M375.0K
9DBX ETF TRXTRACK USD HIGH2.55%$24M698.0K
10IAU*ISHARES GOLD TRhistory →ISHARES NEW1.56%$15M397.9K
11J P MORGAN EXCHANGE TRADED FBETABUILDERS CDA1.25%$12M200.0K
12VANGUARD MUN BD FDSTAX EXEMPT BD0.24%$2M44.2K

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 ↗.