Elm Partners Management LLC

Q3 2025 13F-HR/A Holdings

Location
Philadelphia, PA
Holdings as of
9/30/2025
Date filed
10/7/2026
Form type
13F-HR/A - RESTATEMENT
Num holdings
149
Total value ($000)
$2,474,415
Net value change ($000)
+331,399 (15.5%)
New positions
51
Sold out positions
6
Turnover %
1.8%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/7/2026 Next filing: 10/7/2026 SEC filing

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
VWO 94,614 42.6%
VTI 75,338 22.3%
SCHP 49,333 27.4%
VPL 36,428 36.8%
VGSH 27,660 127.0%
VB 19,191 250.3%
BND 15,498 38.0%
BBEU 15,137 30.9%
VTV 14,492 99.6%
VGK 11,734 8.2%
Top Reduces (Value $000, Stocks/ETFs)
SGOV -70,531 -41.1%
SPEM -19,754 -37.3%
IPAC -18,168 -34.3%
IEMG -16,652 -14.4%
VEU -4,280 -91.6%
LQD -4,118 -100.0%
SCHC -4,045 -100.0%
SCZ -3,484 -100.0%
VTEB -3,033 -31.0%
MUB -1,312 -19.7%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 10,507 (0.4% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type