ELM ADVISORS, LLC

CIK

1362987

Location

BURLINGAME, CA

Portfolio Value

Micro $74,072,418

Diversification

Moderately concentrated

Filing Date

Global Rank

#6,510 / 6,901 ▼ 1462 · as of Mar 2022

Top Industry

Consumer Electronics 25.0%

Period ended 4 years ago

Filed Apr 1, 2022 · 4y

9 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Mar 31, 2022, never from the firm's own description.

Style

Concentrated

The top 10 positions are 87.7% of the book (60%+)

Turnover

Low turnover

3.0% over the last four quarters (under 30%)

Horizon

Horizon unknown

The value-weighted holding period is at least 8.9 quarters, but 96.6% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 90.0%; sector active share 72.1% against the combined 13F book's sector weights.

Over time 9 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

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Portfolio Concentration

45 tracked positions · as of Mar 31, 2022 · Δ vs Dec 31, 2021

Top Position

33.9%

+7.0 pts

Top 5

75.2%

+11.3 pts

Top 10

87.7%

+10.0 pts

HHI

1,741

Moderately concentrated+553

Portfolio Trend

9 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2022

Sector	% Portfolio	Value	Positions
Unclassified	94.1%	$69,704,119	34
Technology	2.1%	$1,521,868	3
Financial Services	1.4%	$1,042,831	2
Industrials	1.0%	$713,797	2
Consumer Cyclical	0.8%	$600,256	2
Consumer Defensive	0.3%	$248,559	1
Energy	0.3%	$240,988	1

Last Quarter's Activity

Export CSV

Mar 31, 2022 vs Dec 31, 2021

Added To

Positions the filer increased

1 positions

Ticker	Company	Δ Shares	Shares	Value	Open
SCHX	Schwab U.S. Large-Cap ETF	+2,195	4,390	$236,401
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
VEU	Vanguard International Equity Index Funds	−125,766	152,327	$8,772,511
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	−31,868	36,863	$8,392,599
AAPL	Apple Inc.	−27,676	6,265	$1,093,931
IJR	iShares Core S&P Small-Cap ETF	−25,453	20,383	$2,198,918
VXUS	Vanguard Total International Stock ETF	−24,789	27,961	$1,670,390
VNQ	VANGUARD REAL ESTATE INDEX FUND	−22,694	23,786	$2,577,688
IWR	iShares Russell Mid-Cap ETF	−22,170	17,590	$1,372,723
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	−17,250	15,095	$696,332
VB	Vanguard Index Funds	−17,235	15,412	$3,275,358
VEA	Vanguard FTSE Developed Markets ETF	−16,420	27,351	$1,313,668
VV	VANGUARD LARGE-CAP INDEX FUND	−13,390	18,050	$3,763,244
IVV	iShares Core S&P 500 ETF	−12,015	11,048	$5,012,367
VTV	VANGUARD VALUE INDEX FUND	−11,820	16,500	$2,438,370
SPY	Spdr S&P 500 ETF Trust	−11,649	10,867	$4,907,971
MDY	Spdr S&P Midcap 400 ETF Trust	−8,714	5,582	$2,737,691
SCZ	iShares MSCI EAFE Small-Cap ETF	−7,870	18,809	$1,247,789
GWX	State Street(R) SPDR(R) S&P(R) International Small Cap ETF	−7,845	6,485	$228,012
VOO	VANGUARD 500 INDEX FUND	−7,721	12,466	$5,175,509
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	−7,490	31,905	$1,644,702
VO	VANGUARD MID-CAP INDEX FUND	−6,368	6,951	$1,653,225
VSS	VANGUARD FTSE ALL-WORLD EX-US SMALL-CAP INDEX FUND	−5,620	2,512	$311,211
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	−4,399	20,136	$1,601,617
EFA	iShares MSCI EAFE ETF	−4,265	7,805	$574,448
—		−4,215	11,106	$1,015,421
VTIP	VANGUARD SHORT-TERM INFLATION-PROTECTED SECURITIES INDEX FUND	−3,790	9,795	$501,601
No positions match the current search.

New Positions

Positions the filer opened this quarter

No qualifying positions this quarter.

Sold Out

Positions the filer fully exited

25 positions

Ticker	Company	Shares	Value
BRK-A	Berkshire Hathaway Inc	18	$8,111,916
AMZN	Amazon Com Inc	759	$2,530,764
SHW	Sherwin Williams Co	5,775	$2,033,724
PG	PROCTER & GAMBLE Co	7,023	$1,148,822
WM	Waste Management Inc	6,760	$1,128,244
COST	Costco Wholesale Corp	1,904	$1,080,900
UNP	Union Pacific Corp	4,152	$1,046,013
GD	General Dynamics Corp	4,375	$912,056
JNJ	Johnson & Johnson	4,969	$850,046
—		5,406	$825,063
INTC	Intel Corp	15,950	$821,425
IBM	International Business Machines Corp	5,722	$764,802
DJCO	Daily Journal Corp	2,120	$756,267
MRK	Merck & Co., Inc.	8,401	$643,852
WEC	Wec Energy Group, Inc.	6,322	$613,676
MMM	3M Co	3,265	$579,962
KO	Coca Cola Co	9,676	$572,915
GPC	Genuine Parts Co	3,780	$529,956
FDX	Fedex Corp	1,700	$439,688
A	Agilent Technologies, Inc.	2,649	$422,912
HPQ	Hp Inc	10,632	$400,507
IJH	iShares Core S&P Mid-Cap ETF	1,262	$357,246
LOW	Lowes Companies Inc	1,375	$355,410
CMCSA	Comcast Corp	6,885	$346,521
EEM	iShares MSCI Emerging Markets ETF	6,300	$307,755
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

45 tracked positions · $74,072,418 total · filing declares 45 positions · $74,072,000 · as of Mar 31, 2022

All sectors Consumer Cyclical Consumer Defensive Energy Financial Services Industrials Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
VEU	Vanguard International Equity Index Funds	Reduced	152,327	-125,766	$8,772,511	−48.5%	9+	before history	11.84%
VTI	VANGUARD TOTAL STOCK MARKET INDEX FUND	Reduced	36,863	-31,868	$8,392,599	−49.4%	9+	before history	11.33%
VOO	VANGUARD 500 INDEX FUND	Reduced	12,466	-7,721	$5,175,509	−41.3%	9+	before history	6.99%
IVV	iShares Core S&P 500 ETF	Reduced	11,048	-12,015	$5,012,367	−54.4%	9+	before history	6.77%
SPY	Spdr S&P 500 ETF Trust	Reduced	10,867	-11,649	$4,907,971	−54.1%	9+	before history	6.63%
VV	VANGUARD LARGE-CAP INDEX FUND	Reduced	18,050	-13,390	$3,763,244	−45.8%	9+	before history	5.08%
VB	Vanguard Index Funds	Reduced	15,412	-17,235	$3,275,358	−55.6%	9+	before history	4.42%
MDY	Spdr S&P Midcap 400 ETF Trust	Reduced	5,582	-8,714	$2,737,691	−63.0%	9+	before history	3.70%
VNQ	VANGUARD REAL ESTATE INDEX FUND	Reduced	23,786	-22,694	$2,577,688	−52.2%	9+	before history	3.48%
VTV	VANGUARD VALUE INDEX FUND	Reduced	16,500	-11,820	$2,438,370	−41.5%	9+	before history	3.29%
IJR	iShares Core S&P Small-Cap ETF	Reduced	20,383	-25,453	$2,198,918	−58.1%	9+	before history	2.97%
VXUS	Vanguard Total International Stock ETF	Reduced	27,961	-24,789	$1,670,390	−50.2%	9+	before history	2.26%
VO	VANGUARD MID-CAP INDEX FUND	Reduced	6,951	-6,368	$1,653,225	−51.3%	9+	before history	2.23%
VTEB	VANGUARD TAX-EXEMPT BOND INDEX FUND	Reduced	31,905	-7,490	$1,644,702	−24.0%	9+	before history	2.22%
BND	VANGUARD TOTAL BOND MARKET INDEX FUND	Reduced	20,136	-4,399	$1,601,617	−23.0%	9+	before history	2.16%
IWR	iShares Russell Mid-Cap ETF	Reduced	17,590	-22,170	$1,372,723	−58.4%	9+	before history	1.85%
VEA	Vanguard FTSE Developed Markets ETF	Reduced	27,351	-16,420	$1,313,668	−41.2%	9+	before history	1.77%
SCZ	iShares MSCI EAFE Small-Cap ETF	Reduced	18,809	-7,870	$1,247,789	−36.0%	9+	before history	1.68%
QQQ	Invesco Qqq Trust, Series 1	Reduced	3,369	-2,648	$1,221,397	−49.0%	9+	before history	1.65%
AAPL	Apple Inc. Technology	Reduced	6,265	-27,676	$1,093,931	−81.8%	9+	before history	1.48%
ESGV	VANGUARD ESG U.S. STOCK ETF	Held	12,683	0	$1,028,337	−7.7%	9+	before history	1.39%
		Reduced	11,106	-4,215	$1,015,421	−27.5%	7	$91.51	1.37%
CMF	iShares California Muni Bond ETF	Held	16,775	0	$975,969	−6.7%	9+	before history	1.32%
ITOT	iShares Core S&P Total U.S. Stock Market ETF	Held	7,691	0	$776,329	−5.6%	9+	before history	1.05%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	2,160	-715	$762,285	−11.3%	9+	before history	1.03%
VWO	VANGUARD EMERGING MARKETS STOCK INDEX FUND	Reduced	15,095	-17,250	$696,332	−56.5%	9+	before history	0.94%
EFA	iShares MSCI EAFE ETF	Reduced	7,805	-4,265	$574,448	−39.5%	9+	before history	0.78%
IJS	iShares S&P Small-Cap 600 Value ETF	Reduced	5,201	-3,040	$532,530	−38.2%	9+	before history	0.72%
XLK	State Street(R) Technology Select Sector SPDR(R) ETF	Reduced	3,200	-3,100	$508,576	−53.6%	9+	before history	0.69%
VTIP	VANGUARD SHORT-TERM INFLATION-PROTECTED SECURITIES INDEX FUND	Reduced	9,795	-3,790	$501,601	−28.2%	9+	before history	0.68%
IWM	iShares Russell 2000 ETF	Reduced	2,425	-3,060	$497,779	−59.2%	9+	before history	0.67%
DE	Deere & Co Industrials	Reduced	1,189	-750	$493,981	−25.7%	9+	before history	0.67%
BSV	VANGUARD SHORT-TERM BOND INDEX FUND	Reduced	5,820	-1,010	$453,378	−17.9%	6	$82.37	0.61%
VBR	VANGUARD SMALL-CAP VALUE INDEX FUND	Reduced	2,217	-2,071	$390,058	−49.1%	8	unpriced	0.53%
MCD	Mcdonalds Corp Consumer Cyclical	Reduced	1,551	-1,050	$383,531	−45.0%	9+	before history	0.52%
VSS	VANGUARD FTSE ALL-WORLD EX-US SMALL-CAP INDEX FUND	Reduced	2,512	-5,620	$311,211	−71.4%	9+	before history	0.42%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	2,058	-1,554	$280,546	−51.0%	9+	before history	0.38%
PEP	Pepsico Inc Consumer Defensive	Reduced	1,485	-600	$248,559	−31.4%	9+	before history	0.34%
CVX	Chevron Corp Energy	Reduced	1,480	-3,300	$240,988	−57.0%	9+	before history	0.33%
SCHX	Schwab U.S. Large-Cap ETF	Added	4,390	+2,195	$236,401	−5.4%	6	unpriced	0.32%
GWX	State Street(R) SPDR(R) S&P(R) International Small Cap ETF	Reduced	6,485	-7,845	$228,012	−57.9%	9+	before history	0.31%
AMAT	Applied Materials Inc Technology	Reduced	1,710	-1,600	$225,378	−56.7%	8	$53.95	0.30%
DOV	DOVER Corp Industrials	Reduced	1,401	-670	$219,816	−41.6%	9+	before history	0.30%
AZO	Autozone Inc Consumer Cyclical	Held	106	0	$216,725	−2.5%	2	$1,861.88	0.29%
MSFT	Microsoft Corp Technology	Reduced	657	-1,816	$202,559	−75.6%	9+	before history	0.27%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.