SEC 13F Intelligence

Managers / Q2 2025 · view latest →

Elm Partners Management LLC

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

Reported Value
$1.7B
Q2 2025
Positions
97
Filings on Record
31
2019–present window
Filed
Aug 5, 2025
original filing

Summary

Elm Partners Management LLC reported $1.7B in U.S.-listed holdings across 97 positions for Q2 2025.

Its largest position, Vanguard Index Fds, represents 14.9% of the portfolio.

Compared with Q1 2025, the fund opened 34 new positions and exited 3.

Portfolio Metrics

Turnover
+17.3%
vs prior filed quarter
Top-10 Concentration
+74.7%
share of reported value
Largest Position
+14.9%
Vanguard Index Fds
New / Exited
34 / 3
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: 96.8%Common Stock: 3.2%Other: 0.0%ADR: 0.0%
  • ETP · 96.8% · $1.7B
  • Common Stock · 3.2% · $55M
  • Other · 0.0% · $480,926
  • ADR · 0.0% · $342,226

Quarter-over-Quarter Changes full breakdown →

vs Q1 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NVDANVIDIA CORPORATIONNEW+120.5K120.5K+$19M$19M
CRWDCROWDSTRIKE HLDGS INCNEW+9.0K9.0K+$5M$5M
BRK/ABERKSHIRE HATHAWAY INC DELNEW+55+$4M$4M
BNBROOKFIELD CORPNEW+46.5K46.5K+$3M$3M
LLYELI LILLY & CONEW+3.6K3.6K+$3M$3M
IBMINTERNATIONAL BUSINESS MACHSNEW+9.5K9.5K+$3M$3M
NFLXNETFLIX INCNEW+1.8K1.8K+$2M$2M
VRTVERTIV HOLDINGS CONEW+19.1K19.1K+$2M$2M

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

Holdings — Q2 2025

26 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1VANGUARD INTL EQUITY INDEX FFTSE EMR MKT ETF · FTSE EUROPE ETF · FTSE PACIFIC ETF24.05%$414M6.64M
2ISHARES TR0-3 MNTH TREASRY · CORE MSCI EURO · CORE S&P TTL STK · 0-5 YR TIPS ETF · CORE MSCI PAC · CORE US AGGBD ET · CORE S&P500 ETF · NATIONAL MUN ETF · CORE S&P US VLU · CORE S&P SCP ETF21.14%$364M3.90M
3VTVVANGUARD INDEX FDSTOTAL STK MKT · S&P 500 ETF SHS · VALUE ETF · SMALL CP ETF · REAL ESTATE ETF19.06%$328M1.08M
4SERIES PORTFOLIOS TRELM MARKET NAVIG9.39%$162M6.25M
5SCHWAB STRATEGIC TRUS TIPS ETF · US REIT ETF · INTL EQTY ETF · US BRD MKT ETF7.69%$133M5.07M
6ISHARES INCCORE MSCI EMKT · MSCI CDA ETF5.54%$95M1.62M
7J P MORGAN EXCHANGE TRADED FBETABUILDERS EUR · BETABUILDERS CDA2.64%$46M623.1K
8VANGUARD BD INDEX FDSTOTAL BND MRKT1.85%$32M433.4K
9SPDR INDEX SHS FDSPORTFOLIO EMG MK1.69%$29M680.4K
10VGSHVANGUARD SCOTTSDALE FDShistory →SHORT TERM TREAS1.26%$22M370.5K
11NVDANVIDIA CORPORATIONhistory →COM1.11%$19M120.5K
12VANGUARD MUN BD FDSTAX EXEMPT BD0.57%$10M199.6K
13VANGUARD WORLD FDINF TECH ETF · CONSUM DIS ETF · COMM SRVC ETF · INDUSTRIAL ETF0.48%$8M25.2K
14CRWDCROWDSTRIKE HLDGS INCCL A0.27%$5M9.0K
15XLFSELECT SECTOR SPDR TRTECHNOLOGY · FINANCIAL0.23%$4M35.0K
16BRK/ABERKSHIRE HATHAWAY INC DELCL A0.21%$4M5
17BNBROOKFIELD CORPCL A LTD VT SH0.17%$3M46.5K
18LLYELI LILLY & COCOM0.16%$3M3.6K
19IBMINTERNATIONAL BUSINESS MACHSCOM0.16%$3M9.5K
20NFLXNETFLIX INCCOM0.14%$2M1.8K
21SPDR SERIES TRUSTPORTFOLIO S&P5000.14%$2M33.7K
22VRTVERTIV HOLDINGS COCOM CL A0.14%$2M19.1K
23COHRCOHERENT CORPCOM0.10%$2M20.0K
24AAPLAPPLE INCCOM0.09%$2M7.4K
25FRANKLIN TEMPLETON ETF TRFTSE CANADA0.07%$1M30.8K
26SPDR S&P 500 ETF TRTR UNIT0.07%$1M2.1K

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 ↗.