Kelman-Lazarov, Inc.

Q4 2025 13F-HR Holdings

Location
Memphis, TN
Holdings as of
12/31/2025
Date filed
1/26/2026
Form type
13F-HR
Num holdings
134
Total value ($000)
$700,255
Net value change ($000)
+25,781 (3.8%)
New positions
5
Sold out positions
3
Turnover %
0.3%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/12/2025 Next filing: 4/27/2026 SEC filing

Snapshot: Change Analysis

Compared to Q3 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)
AVDE 20,433 317.6%
SPYM 2,996 10.0%
MOAT 2,955 5.4%
FNDX 2,426 3.9%
STIP 1,912 6.6%
VV 1,719 86.6%
MBB 1,710 7.9%
GOOGL 922 28.5%
QLTY 901 6.8%
IJR 866 3.6%
Top Reduces (Value $000, Stocks/ETFs)
GSIE -18,299 -47.6%
TSLA -2,200 -71.7%
GSLC -1,472 -5.0%
NFLX -346 -24.8%
SCHH -291 -100.0%
VEU -277 -100.0%
PEP -234 -32.7%
MKC -201 -100.0%
EPS -137 -33.2%
ORCL -131 -33.4%
Instrument mix + QoQ Δ (ex-options)
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