Gemmer Asset Management LLC's Q4 2025 13F: 5 new positions, 5 exits
Form 13F-HR for the quarter ended Dec 31, 2025 · filed Jan 23, 2026 · 169 reported positions · accession 0001420506-26-000092
What changed this quarter
| Activity | Security | Weight before | Weight now | Change | Shares | Shares % |
|---|---|---|---|---|---|---|
| Increased | SCHWAB STRATEGIC TR (SCHG) | 5.2% | 6.8% | +1.6 pts | +694K sh | +35% |
| Reduced | SCHWAB STRATEGIC TR (SCHV) | 10.2% | 8.4% | −1.8 pts | −649K sh | −15% |
| Increased | SCHWAB STRATEGIC TR (SCHF) | 10.4% | 11.0% | +0.6 pts | +407K sh | +7% |
| Increased | MICRON TECHNOLOGY INC (MU) | 0.4% | 1.3% | +0.8 pts | +26,475 sh | +84% |
| Exited | ISHARES TR (IJT) | 0.5% | — | −0.5 pts | −44,241 sh | −100% |
| Increased | SCHWAB STRATEGIC TR (SCHA) | 3.0% | 3.3% | +0.3 pts | +192K sh | +15% |
| Increased | SPDR INDEX SHS FDS (EFAX) | 2.3% | 2.6% | +0.3 pts | +93,000 sh | +16% |
| New | ISHARES TR (ESML) | — | 0.3% | +0.3 pts | +92,769 sh | new |
| Increased | LISTED FDS TR (METV) | 0.4% | 0.6% | +0.2 pts | +5,071 sh | +71% |
| Increased | SCHWAB STRATEGIC TR (SCHE) | 0.7% | 0.9% | +0.1 pts | +71,360 sh | +26% |
| Increased | VANGUARD BD INDEX FDS (BSV) | 4.6% | 4.5% | 0.0 pts | +27,620 sh | +4% |
| Increased | VANGUARD WORLD FD (ESGV) | 1.6% | 1.7% | +0.1 pts | +14,046 sh | +9% |
| Reduced | VANGUARD INDEX FDS (VTV) | 1.4% | 1.2% | −0.2 pts | −8,558 sh | −9% |
| Reduced | SCHWAB STRATEGIC TR (SCHM) | 2.4% | 2.2% | −0.2 pts | −53,531 sh | −5% |
| Increased | INTUIT (INTU) | 0.0% | 0.1% | +0.1 pts | +2,152 sh | +585% |
| Increased | VANGUARD INDEX FDS (VUG) | 1.4% | 1.5% | +0.1 pts | +2,921 sh | +8% |
| Increased | VANGUARD INTL EQUITY INDEX F (VGK) | 0.1% | 0.2% | +0.1 pts | +16,987 sh | +104% |
| Increased | DIMENSIONAL ETF TRUST (DFIC) | 1.2% | 1.3% | +0.1 pts | +40,870 sh | +9% |
| New | ISHARES SILVER TR (SLV) | — | 0.1% | +0.1 pts | +21,805 sh | new |
| Increased | VANGUARD TAX-MANAGED FDS (VEA) | 4.2% | 4.3% | +0.1 pts | +22,186 sh | +3% |
| New | INVESCO EXCH TRADED FD TR II (TAN) | — | 0.1% | +0.1 pts | +25,954 sh | new |
| Increased | PIMCO ETF TR (PYLD) | 1.8% | 1.8% | 0.0 pts | +39,832 sh | +5% |
| Increased | DIMENSIONAL ETF TRUST (DFAS) | 0.7% | 0.7% | +0.1 pts | +13,329 sh | +11% |
| Increased | SPDR SERIES TRUST (SPSB) | 2.8% | 2.8% | −0.1 pts | +30,170 sh | +3% |
| Reduced | ISHARES TR (IGV) | 1.0% | 0.8% | −0.2 pts | −8,184 sh | −8% |
| Increased | AMAZON COM INC (AMZN) | 0.3% | 0.3% | +0.1 pts | +3,433 sh | +22% |
| Reduced | SCHWAB STRATEGIC TR (SCHB) | 2.4% | 2.3% | −0.1 pts | −30,201 sh | −3% |
| New | BERKSHIRE HATHAWAY INC DEL (BRK-A) | — | 0.1% | +0.1 pts | +1 sh | new |
| Reduced | PALANTIR TECHNOLOGIES INC (PLTR) | 0.1% | 0.0% | −0.1 pts | −4,147 sh | −56% |
| Reduced | ISHARES BITCOIN TRUST ETF (IBIT) | 0.1% | 0.0% | −0.1 pts | −14,821 sh | −59% |
| Increased | HOME DEPOT INC (HD) | 0.1% | 0.2% | 0.0 pts | +1,927 sh | +42% |
| Increased | BANK AMERICA CORP (BAC) | 0.0% | 0.1% | 0.0 pts | +9,022 sh | +77% |
| Increased | DIMENSIONAL ETF TRUST (DFLV) | 0.7% | 0.7% | 0.0 pts | +13,281 sh | +5% |
| Increased | SCHWAB STRATEGIC TR (FNDA) | 1.6% | 1.6% | 0.0 pts | +13,605 sh | +2% |
| New | ISHARES INC (ESGE) | — | 0.0% | 0.0 pts | +9,401 sh | new |
| Reduced | APPLE INC (AAPL) | 1.2% | 1.2% | 0.0 pts | −1,486 sh | −3% |
| Increased | NETFLIX INC (NFLX) | 0.1% | 0.1% | 0.0 pts | +4,218 sh | +31% |
| Increased | ISHARES TR (IVE) | 0.3% | 0.3% | 0.0 pts | +1,812 sh | +11% |
| Reduced | TIDAL TRUST II (CHAT) | 0.4% | 0.3% | −0.1 pts | −6,460 sh | −9% |
| Increased | GLOBAL X FDS (URA) | 0.1% | 0.1% | 0.0 pts | +8,828 sh | +36% |
| Increased | DIMENSIONAL ETF TRUST (DUHP) | 1.0% | 1.0% | 0.0 pts | +8,845 sh | +3% |
| Reduced | ISHARES TR (DSI) | 1.4% | 1.4% | −0.1 pts | −2,587 sh | −2% |
| Increased | COSTCO WHSL CORP NEW (COST) | 0.1% | 0.1% | 0.0 pts | +362 sh | +38% |
| Increased | DIMENSIONAL ETF TRUST (DFAC) | 0.8% | 0.8% | 0.0 pts | +7,179 sh | +3% |
| Increased | ISHARES TR (IVW) | 0.1% | 0.1% | 0.0 pts | +2,270 sh | +21% |
| Increased | ISHARES TR (AGG) | 0.5% | 0.5% | 0.0 pts | +2,706 sh | +4% |
| Reduced | SCHWAB STRATEGIC TR (FNDX) | 5.6% | 5.6% | −0.1 pts | −9,505 sh | 0% |
| Increased | ELI LILLY & CO (LLY) | 0.1% | 0.1% | 0.0 pts | +227 sh | +23% |
| Exited | WISDOMTREE TR (DHS) | 0.0% | — | 0.0 pts | −2,201 sh | −100% |
| Reduced | STARBUCKS CORP (SBUX) | 0.7% | 0.7% | −0.1 pts | −2,734 sh | −3% |
The 50 largest of 160 changes, by size of the trade. Full holdings for this quarter.
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 — 53.5% of the equity book
Changes in the top 10 this quarter: EFAX entered · EVI left
| # | Security | Weight before | Weight now | |
|---|---|---|---|---|
| 1 | SCHWAB STRATEGIC TR (SCHF) | 10.4% | 11.0% | |
| 2 | SCHWAB STRATEGIC TR (SCHV) | 10.2% | 8.4% | |
| 3 | SCHWAB STRATEGIC TR (SCHG) | 5.2% | 6.8% | |
| 4 | SCHWAB STRATEGIC TR (FNDX) | 5.6% | 5.6% | |
| 5 | VANGUARD BD INDEX FDS (BSV) | 4.6% | 4.5% | |
| 6 | NVIDIA CORPORATION (NVDA) | 4.5% | 4.3% | |
| 7 | VANGUARD TAX-MANAGED FDS (VEA) | 4.2% | 4.3% | |
| 8 | SCHWAB STRATEGIC TR (SCHA) | 3.0% | 3.3% | |
| 9 | SPDR SERIES TRUST (SPSB) | 2.8% | 2.8% | |
| 10 | SPDR INDEX SHS FDS (EFAX) | 2.3% | 2.6% | Entered the top 10 |
| — | EVI INDS INC (EVI) | 2.6% | 1.9% | 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).