KELMAN-LAZAROV, INC.

Filed: 5/6/2025ACC: 0001398344-25-008790

📋 What this filing means

KELMAN-LAZAROV, INC. filed this quarterly 13F‑HR report disclosing 116 equity positions with a total reported market value of $550.88M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

116

Positions

$550.88M

Total AUM (reported)

11.45M

Total Shares

Allocation by class

FUNDAMENTAL US L$53.84M9.8%

MRNGSTR WDE MOAT$47.26M8.6%

US LCAP GR ETF$45.75M8.3%

ACTIVEBETA INT$34.23M6.2%

ACTIVEBETA US LG$27.87M5.1%

0-5 YR TIPS ETF$27.25M4.9%

ACTIVE BD ETF$22.78M4.1%

Portfolio Concentration

Top 3$146.85M26.7%

4–10$173.64M31.5%

11–25$154.23M28.0%

Rest$76.16M13.8%

Top 3 weight

26.7%

Top 10 weight

58.2%

Voting Authority Distribution

Total shares with voting rights: 11.45M

Sole

Full voting authority

0.00

% of voting shares0.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

11.45M

% of voting shares100.0%

Investment Discretion (by position count)

Sole116

Shared0

Other0

Dominant voting typeNone · 100.0% of voting shares

Institutional Holdings116

Rows:

SCHWAB STRATEGIC TR

SOLE

FUNDAMENTAL US L

Shares2.28M

TypeSH

Market value$53.84M

9.77%

Sole

0.00

Shared

0.00

None

2.28M

VANECK ETF TRUST

SOLE

MRNGSTR WDE MOAT

Shares537.08K

TypeSH

Market value$47.26M

8.58%

Sole

0.00

Shared

0.00

None

537.08K

SCHWAB STRATEGIC TR

SOLE

US LCAP GR ETF

Shares1.83M

TypeSH

Market value$45.75M

8.31%

Sole

0.00

Shared

0.00

None

1.83M

GOLDMAN SACHS ETF TR

SOLE

ACTIVEBETA INT

Shares960.24K

TypeSH

Market value$34.23M

6.21%

Sole

0.00

Shared

0.00

None

960.24K

GOLDMAN SACHS ETF TR

SOLE

ACTIVEBETA US LG

Shares253.15K

TypeSH

Market value$27.87M

5.06%

Sole

0.00

Shared

0.00

None

253.15K

ISHARES TR

SOLE

0-5 YR TIPS ETF

Shares263.41K

TypeSH

Market value$27.25M

4.95%

Sole

0.00

Shared

0.00

None

263.41K

PIMCO ETF TR

SOLE

ACTIVE BD ETF

Shares246.31K

TypeSH

Market value$22.78M

4.13%

Sole

0.00

Shared

0.00

None

246.31K

ISHARES TR

SOLE

CORE S&P SCP ETF

Shares202.33K

TypeSH

Market value$21.16M

3.84%

Sole

0.00

Shared

0.00

None

202.33K

SPDR SER TR

SOLE

PORTFOLIO S&P500

Shares317.91K

TypeSH

Market value$20.91M

3.79%

Sole

0.00

Shared

0.00

None

317.91K

ISHARES TR

SOLE

MBS ETF

Shares207.38K

TypeSH

Market value$19.45M

3.53%

Sole

0.00

Shared

0.00

None

207.38K

VANGUARD BD INDEX FDS

SOLE

SHORT TRM BOND

Shares244.52K

TypeSH

Market value$19.14M

3.47%

Sole

0.00

Shared

0.00

None

244.52K

SCHWAB STRATEGIC TR

SOLE

FUNDAMENTAL EMER

Shares589.03K

TypeSH

Market value$18.14M

3.29%

Sole

0.00

Shared

0.00

None

589.03K

SCHWAB STRATEGIC TR

SOLE

FUNDAMENTAL INTL

Shares473.26K

TypeSH

Market value$17.13M

3.11%

Sole

0.00

Shared

0.00

None

473.26K

BERKSHIRE HATHAWAY INC DEL

SOLE

CL B NEW

Shares31.19K

TypeSH

Market value$16.61M

3.02%

Sole

0.00

Shared

0.00

None

31.19K

ISHARES TR

SOLE

CORE S&P MCP ETF

Shares254.01K

TypeSH

Market value$14.82M

2.69%

Sole

0.00

Shared

0.00

None

254.01K

PIMCO ETF TR

SOLE

MULTISECTOR BD

Shares515.49K

TypeSH

Market value$13.58M

2.47%

Sole

0.00

Shared

0.00

None

515.49K

2023 ETF SERIES TRUST II

SOLE

GMO US QUALITY E

Shares348.55K

TypeSH

Market value$10.90M

1.98%

Sole

0.00

Shared

0.00

None

348.55K

PIMCO ETF TR

SOLE

1-5 US TIP IDX

Shares136.87K

TypeSH

Market value$7.39M

1.34%

Sole

0.00

Shared

0.00

None

136.87K

SCHWAB STRATEGIC TR

SOLE

INTL EQTY ETF

Shares364.24K

TypeSH

Market value$7.20M

1.31%

Sole

0.00

Shared

0.00

None

364.24K

AMERICAN CENTY ETF TR

SOLE

AVANTIS EMGMKT

Shares102.08K

TypeSH

Market value$6.14M

1.11%

Sole

0.00

Shared

0.00

None

102.08K

PIMCO ETF TR

SOLE

SHTRM MUN BD ACT

Shares104.89K

TypeSH

Market value$5.25M

0.95%

Sole

0.00

Shared

0.00

None

104.89K

VANGUARD MUN BD FDS

SOLE

TAX EXEMPT BD

Shares99.66K

TypeSH

Market value$4.95M

0.90%

Sole

0.00

Shared

0.00

None

99.66K

AMERICAN CENTY ETF TR

SOLE

INTL EQT ETF

Shares73.81K

TypeSH

Market value$4.89M

0.89%

Sole

0.00

Shared

0.00

None

73.81K

PIMCO ETF TR

SOLE

INTER MUN BD ACT

Shares90.10K

TypeSH

Market value$4.64M

0.84%

Sole

0.00

Shared

0.00

None

90.10K

VANGUARD BD INDEX FDS

SOLE

INTERMED TERM

Shares44.86K

TypeSH

Market value$3.43M

0.62%

Sole

0.00

Shared

0.00

None

44.86K

Issuer	Class	Shares	Type	Value / Portfolio %	None
SCHWAB STRATEGIC TRSOLE	FUNDAMENTAL US L	2.28M	SH	$53.84M 9.77%	2.28M
VANECK ETF TRUSTSOLE	MRNGSTR WDE MOAT	537.08K	SH	$47.26M 8.58%	537.08K
SCHWAB STRATEGIC TRSOLE	US LCAP GR ETF	1.83M	SH	$45.75M 8.31%	1.83M
GOLDMAN SACHS ETF TRSOLE	ACTIVEBETA INT	960.24K	SH	$34.23M 6.21%	960.24K
GOLDMAN SACHS ETF TRSOLE	ACTIVEBETA US LG	253.15K	SH	$27.87M 5.06%	253.15K
ISHARES TRSOLE	0-5 YR TIPS ETF	263.41K	SH	$27.25M 4.95%	263.41K
PIMCO ETF TRSOLE	ACTIVE BD ETF	246.31K	SH	$22.78M 4.13%	246.31K
ISHARES TRSOLE	CORE S&P SCP ETF	202.33K	SH	$21.16M 3.84%	202.33K
SPDR SER TRSOLE	PORTFOLIO S&P500	317.91K	SH	$20.91M 3.79%	317.91K
ISHARES TRSOLE	MBS ETF	207.38K	SH	$19.45M 3.53%	207.38K
VANGUARD BD INDEX FDSSOLE	SHORT TRM BOND	244.52K	SH	$19.14M 3.47%	244.52K
SCHWAB STRATEGIC TRSOLE	FUNDAMENTAL EMER	589.03K	SH	$18.14M 3.29%	589.03K
SCHWAB STRATEGIC TRSOLE	FUNDAMENTAL INTL	473.26K	SH	$17.13M 3.11%	473.26K
BERKSHIRE HATHAWAY INC DELSOLE	CL B NEW	31.19K	SH	$16.61M 3.02%	31.19K
ISHARES TRSOLE	CORE S&P MCP ETF	254.01K	SH	$14.82M 2.69%	254.01K
PIMCO ETF TRSOLE	MULTISECTOR BD	515.49K	SH	$13.58M 2.47%	515.49K
2023 ETF SERIES TRUST IISOLE	GMO US QUALITY E	348.55K	SH	$10.90M 1.98%	348.55K
PIMCO ETF TRSOLE	1-5 US TIP IDX	136.87K	SH	$7.39M 1.34%	136.87K
SCHWAB STRATEGIC TRSOLE	INTL EQTY ETF	364.24K	SH	$7.20M 1.31%	364.24K
AMERICAN CENTY ETF TRSOLE	AVANTIS EMGMKT	102.08K	SH	$6.14M 1.11%	102.08K
PIMCO ETF TRSOLE	SHTRM MUN BD ACT	104.89K	SH	$5.25M 0.95%	104.89K
VANGUARD MUN BD FDSSOLE	TAX EXEMPT BD	99.66K	SH	$4.95M 0.90%	99.66K
AMERICAN CENTY ETF TRSOLE	INTL EQT ETF	73.81K	SH	$4.89M 0.89%	73.81K
PIMCO ETF TRSOLE	INTER MUN BD ACT	90.10K	SH	$4.64M 0.84%	90.10K
VANGUARD BD INDEX FDSSOLE	INTERMED TERM	44.86K	SH	$3.43M 0.62%	44.86K

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