Elm Partners Management LLC's Q1 2022 13F: 18 new positions, 1 exit
Form 13F-HR for the quarter ended Mar 31, 2022 · filed Apr 21, 2022 · 50 reported positions · accession 0001743941-22-000004
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) | 6.5% | 15.4% | +8.9 pts | +755K sh | +130% |
| Reduced | Vanguard Total Stock Market ETF (VTI) | 19.9% | 12.6% | −7.3 pts | −231K sh | −34% |
| Increased | Vanguard Short-Term Treasury ETF (VGSH) | 3.7% | 8.1% | +4.4 pts | +587K sh | +118% |
| Exited | JPMORGAN BETABUILDERS CANADA (BBCA) | 2.7% | — | −2.7 pts | −329K sh | −100% |
| Increased | iShares Core S&P Total US Stock Market ETF (ITOT) | 8.7% | 10.0% | +1.3 pts | +125K sh | +19% |
| Reduced | Vanguard Real Estate ETF (VNQ) | 4.6% | 3.3% | −1.3 pts | −80,531 sh | −25% |
| Reduced | Vanguard FTSE Europe ETF (VGK) | 8.1% | 6.6% | −1.4 pts | −114K sh | −12% |
| Increased | Vanguard FTSE Pacific ETF (VPL) | 3.5% | 4.0% | +0.5 pts | +62,640 sh | +17% |
| Reduced | Vanguard Small-Cap ETF (VB) | 2.0% | 1.4% | −0.6 pts | −19,684 sh | −28% |
| Increased | iShares Gold Trust (IAU) | 0.4% | 0.9% | +0.5 pts | +102K sh | +117% |
| Increased | iShares National Muni Bond ETF (MUB) | 0.2% | 0.6% | +0.4 pts | +32,413 sh | +258% |
| Reduced | Vanguard Value ETF (VTV) | 1.5% | 1.2% | −0.3 pts | −19,443 sh | −23% |
| Reduced | iShares Core S&P 500 ETF (IVV) | 2.5% | 2.2% | −0.3 pts | −4,884 sh | −12% |
| Reduced | iShares Core S&P U.S. Value ETF (IUSV) | 0.5% | 0.3% | −0.2 pts | −26,065 sh | −49% |
| Reduced | Vanguard FTSE Emerging Markets ETF (VWO) | 9.3% | 8.7% | −0.6 pts | −33,077 sh | −2% |
| Reduced | iShares Core MSCI Pacific ETF (IPAC) | 3.5% | 3.2% | −0.2 pts | −21,168 sh | −5% |
| Reduced | Vanguard S&P 500 ETF (VOO) | 3.5% | 3.3% | −0.2 pts | −2,731 sh | −4% |
| Increased | iShares Core S&P Small-Cap ETF (IJR) | 0.4% | 0.5% | +0.1 pts | +10,255 sh | +39% |
| Reduced | iShares Core MSCI Emerging Markets ETF (IEMG) | 8.2% | 7.7% | −0.5 pts | −15,120 sh | −1% |
| Increased | Schwab US Broad Market ETF (SCHB) | 0.1% | 0.2% | +0.1 pts | +13,704 sh | +133% |
| Reduced | Xtrackers USD High Yield Corporate Bond ETF (HYLB) | 0.3% | 0.2% | −0.1 pts | −16,769 sh | −29% |
| Reduced | iShares MSCI Canada ETF (EWC) | 0.5% | 0.5% | 0.0 pts | −13,947 sh | −13% |
| Increased | SPDR S&P 500 ETF Trust (SPY) | 0.1% | 0.1% | 0.0 pts | +503 sh | +35% |
| New | iShares Core U.S. Aggregate Bond ETF (AGG) | — | 0.0% | 0.0 pts | +2,115 sh | new |
| Reduced | iShares iBoxx High Yield Corporate Bond ETF (HYG) | 0.1% | 0.1% | 0.0 pts | −1,922 sh | −19% |
| New | Vanguard Tax-Exempt Bond Index ETF (VTEB) | — | 0.0% | 0.0 pts | +2,703 sh | new |
| New | iShares Russell 2000 ETF (IWM) | — | 0.0% | 0.0 pts | +544 sh | new |
| New | Vanguard Information Technology ETF (VGT) | — | 0.0% | 0.0 pts | +237 sh | new |
| Reduced | iShares Core MSCI Europe ETF (IEUR) | 5.2% | 4.9% | −0.3 pts | −1,373 sh | 0% |
| Reduced | Vanguard Total Bond Market ETF (BND) | 0.1% | 0.1% | 0.0 pts | −842 sh | −14% |
| New | Schwab US Large-Cap ETF (SCHX) | — | 0.0% | 0.0 pts | +968 sh | new |
| New | iShares MSCI EAFE Value ETF (EFV) | — | 0.0% | 0.0 pts | +953 sh | new |
| New | Vanguard Health Care ETF (VHT) | — | 0.0% | 0.0 pts | +168 sh | new |
| New | Vanguard Consumer Discretionary ETF (VCR) | — | 0.0% | 0.0 pts | +124 sh | new |
| New | Vanguard Consumer Staples ETF (VDC) | — | 0.0% | 0.0 pts | +193 sh | new |
| New | Vanguard Financials ETF (VFH) | — | 0.0% | 0.0 pts | +350 sh | new |
| New | Vanguard Industrials ETF (VIS) | — | 0.0% | 0.0 pts | +161 sh | new |
| Reduced | iShares TIPS Bond ETF (TIP) | 0.2% | 0.2% | 0.0 pts | −242 sh | −2% |
| New | Schwab US Small-Cap ETF (SCHA) | — | 0.0% | 0.0 pts | +410 sh | new |
| New | Vanguard Energy ETF (VDE) | — | 0.0% | 0.0 pts | +153 sh | new |
| New | Vanguard Utilities ETF (VPU) | — | 0.0% | 0.0 pts | +96 sh | new |
| New | Real Estate Select Sector SPDR Fund (XLRE) | — | 0.0% | 0.0 pts | +291 sh | new |
| New | Vanguard Materials ETF (VAW) | — | 0.0% | 0.0 pts | +69 sh | new |
| New | Vanguard Communication Services ETF (VOX) | — | 0.0% | 0.0 pts | +82 sh | new |
| Reduced | iShares Russell 1000 Value ETF (IWD) | 0.0% | 0.0% | 0.0 pts | −27 sh | −1% |
| New | Schwab US TIPS ETF (SCHP) | — | 0.0% | 0.0 pts | +26 sh | new |
Reported by the fund in its Form 13F filed with the SEC; holdings are as of the quarter-end report date and may have changed since. For informational purposes only — not investment advice or a recommendation to buy or sell any security. FilingExplorer is not affiliated with or endorsed by this fund. How this brief is compiled
Top 10 positions — 81.3% of the equity book
Changes in the top 10 this quarter: VPL entered · VNQ left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | SPDR Bloomberg 1-3 Month T-Bill ETF (BIL) | 6.5% | 15.4% | |
| 2 | Vanguard Total Stock Market ETF (VTI) | 19.9% | 12.6% | |
| 3 | iShares Core S&P Total US Stock Market ETF (ITOT) | 8.7% | 10.0% | |
| 4 | Vanguard FTSE Emerging Markets ETF (VWO) | 9.3% | 8.7% | |
| 5 | Vanguard Short-Term Treasury ETF (VGSH) | 3.7% | 8.1% | |
| 6 | iShares Core MSCI Emerging Markets ETF (IEMG) | 8.2% | 7.7% | |
| 7 | Vanguard FTSE Europe ETF (VGK) | 8.1% | 6.6% | |
| 8 | iShares Core MSCI Europe ETF (IEUR) | 5.2% | 4.9% | |
| 9 | Vanguard FTSE Pacific ETF (VPL) | 3.5% | 4.0% | Entered the top 10 |
| 10 | Vanguard S&P 500 ETF (VOO) | 3.5% | 3.3% | |
| — | Vanguard Real Estate ETF (VNQ) | 4.6% | 3.3% | Left the top 10 |
Weights are each position's reported value as a share of the fund's reported equity positions (options and principal-amount holdings excluded).