KELMAN-LAZAROV, INC.

Filed: 7/29/2025ACC: 0001398344-25-014039

📋 What this filing means

KELMAN-LAZAROV, INC. filed this quarterly 13F‑HR report disclosing 122 equity positions with a total reported market value of $617.23M. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.

122

Positions

$617.23M

Total AUM (reported)

12.63M

Total Shares

Allocation by class

FUNDAMENTAL US L$57.28M9.3%

US LCAP GR ETF$54.55M8.8%

MRNGSTR WDE MOAT$51.35M8.3%

ACTIVEBETA INT$37.97M6.2%

ACTIVEBETA US LG$28.33M4.6%

0-5 YR TIPS ETF$27.45M4.4%

PORTFOLIO S&P500$26.89M4.4%

Portfolio Concentration

Top 3$163.19M26.4%

4–10$190.44M30.9%

11–25$175.99M28.5%

Rest$87.61M14.2%

Top 3 weight

26.4%

Top 10 weight

57.3%

Voting Authority Distribution

Total shares with voting rights: 12.63M

Sole

Full voting authority

0.00

% of voting shares0.0%

Shared

Joint voting authority

0.00

% of voting shares0.0%

None

No voting authority

12.63M

% of voting shares100.0%

Investment Discretion (by position count)

Sole122

Shared0

Other0

Dominant voting typeNone · 100.0% of voting shares

Institutional Holdings122

Rows:

SCHWAB STRATEGIC TR

SOLE

FUNDAMENTAL US L

Shares2.33M

TypeSH

Market value$57.28M

9.28%

Sole

0.00

Shared

0.00

None

2.33M

SCHWAB STRATEGIC TR

SOLE

US LCAP GR ETF

Shares1.87M

TypeSH

Market value$54.55M

8.84%

Sole

0.00

Shared

0.00

None

1.87M

VANECK ETF TRUST

SOLE

MRNGSTR WDE MOAT

Shares547.53K

TypeSH

Market value$51.35M

8.32%

Sole

0.00

Shared

0.00

None

547.53K

GOLDMAN SACHS ETF TR

SOLE

ACTIVEBETA INT

Shares957.30K

TypeSH

Market value$37.97M

6.15%

Sole

0.00

Shared

0.00

None

957.30K

GOLDMAN SACHS ETF TR

SOLE

ACTIVEBETA US LG

Shares233.36K

TypeSH

Market value$28.33M

4.59%

Sole

0.00

Shared

0.00

None

233.36K

ISHARES TR

SOLE

0-5 YR TIPS ETF

Shares266.71K

TypeSH

Market value$27.45M

4.45%

Sole

0.00

Shared

0.00

None

266.71K

SPDR SERIES TRUST

SOLE

PORTFOLIO S&P500

Shares369.92K

TypeSH

Market value$26.89M

4.36%

Sole

0.00

Shared

0.00

None

369.92K

SCHWAB STRATEGIC TR

SOLE

US LRG CAP ETF

Shares1.05M

TypeSH

Market value$25.58M

4.14%

Sole

0.00

Shared

0.00

None

1.05M

ISHARES TR

SOLE

CORE S&P SCP ETF

Shares202.40K

TypeSH

Market value$22.12M

3.58%

Sole

0.00

Shared

0.00

None

202.40K

PIMCO ETF TR

SOLE

ACTIVE BD ETF

Shares239.86K

TypeSH

Market value$22.11M

3.58%

Sole

0.00

Shared

0.00

None

239.86K

ISHARES TR

SOLE

MBS ETF

Shares213.08K

TypeSH

Market value$20.01M

3.24%

Sole

0.00

Shared

0.00

None

213.08K

SCHWAB STRATEGIC TR

SOLE

FUNDAMENTAL INTL

Shares475.76K

TypeSH

Market value$20.01M

3.24%

Sole

0.00

Shared

0.00

None

475.76K

SCHWAB STRATEGIC TR

SOLE

FUNDAMENTAL EMER

Shares603.42K

TypeSH

Market value$19.92M

3.23%

Sole

0.00

Shared

0.00

None

603.42K

VANGUARD BD INDEX FDS

SOLE

SHORT TRM BOND

Shares242.90K

TypeSH

Market value$19.12M

3.10%

Sole

0.00

Shared

0.00

None

242.90K

ISHARES TR

SOLE

CORE S&P MCP ETF

Shares262.28K

TypeSH

Market value$16.27M

2.64%

Sole

0.00

Shared

0.00

None

262.28K

BERKSHIRE HATHAWAY INC DEL

SOLE

CL B NEW

Shares31.16K

TypeSH

Market value$15.14M

2.45%

Sole

0.00

Shared

0.00

None

31.16K

2023 ETF SERIES TRUST II

SOLE

GMO US QUALITY E

Shares368.73K

TypeSH

Market value$12.63M

2.05%

Sole

0.00

Shared

0.00

None

368.73K

PIMCO ETF TR

SOLE

MULTISECTOR BD

Shares470.82K

TypeSH

Market value$12.50M

2.02%

Sole

0.00

Shared

0.00

None

470.82K

SCHWAB STRATEGIC TR

SOLE

INTL EQTY ETF

Shares400.45K

TypeSH

Market value$8.85M

1.43%

Sole

0.00

Shared

0.00

None

400.45K

PIMCO ETF TR

SOLE

1-5 US TIP IDX

Shares131.36K

TypeSH

Market value$7.07M

1.15%

Sole

0.00

Shared

0.00

None

131.36K

PIMCO ETF TR

SOLE

SHTRM MUN BD ACT

Shares119.46K

TypeSH

Market value$5.99M

0.97%

Sole

0.00

Shared

0.00

None

119.46K

AMERICAN CENTY ETF TR

SOLE

INTL EQT ETF

Shares72.19K

TypeSH

Market value$5.34M

0.87%

Sole

0.00

Shared

0.00

None

72.19K

AMERICAN CENTY ETF TR

SOLE

AVANTIS EMGMKT

Shares72.31K

TypeSH

Market value$4.96M

0.80%

Sole

0.00

Shared

0.00

None

72.31K

VANGUARD MUN BD FDS

SOLE

TAX EXEMPT BD

Shares84.56K

TypeSH

Market value$4.15M

0.67%

Sole

0.00

Shared

0.00

None

84.56K

PIMCO ETF TR

SOLE

INTER MUN BD ACT

Shares78.97K

TypeSH

Market value$4.06M

0.66%

Sole

0.00

Shared

0.00

None

78.97K

Issuer	Class	Shares	Type	Value / Portfolio %	None
SCHWAB STRATEGIC TRSOLE	FUNDAMENTAL US L	2.33M	SH	$57.28M 9.28%	2.33M
SCHWAB STRATEGIC TRSOLE	US LCAP GR ETF	1.87M	SH	$54.55M 8.84%	1.87M
VANECK ETF TRUSTSOLE	MRNGSTR WDE MOAT	547.53K	SH	$51.35M 8.32%	547.53K
GOLDMAN SACHS ETF TRSOLE	ACTIVEBETA INT	957.30K	SH	$37.97M 6.15%	957.30K
GOLDMAN SACHS ETF TRSOLE	ACTIVEBETA US LG	233.36K	SH	$28.33M 4.59%	233.36K
ISHARES TRSOLE	0-5 YR TIPS ETF	266.71K	SH	$27.45M 4.45%	266.71K
SPDR SERIES TRUSTSOLE	PORTFOLIO S&P500	369.92K	SH	$26.89M 4.36%	369.92K
SCHWAB STRATEGIC TRSOLE	US LRG CAP ETF	1.05M	SH	$25.58M 4.14%	1.05M
ISHARES TRSOLE	CORE S&P SCP ETF	202.40K	SH	$22.12M 3.58%	202.40K
PIMCO ETF TRSOLE	ACTIVE BD ETF	239.86K	SH	$22.11M 3.58%	239.86K
ISHARES TRSOLE	MBS ETF	213.08K	SH	$20.01M 3.24%	213.08K
SCHWAB STRATEGIC TRSOLE	FUNDAMENTAL INTL	475.76K	SH	$20.01M 3.24%	475.76K
SCHWAB STRATEGIC TRSOLE	FUNDAMENTAL EMER	603.42K	SH	$19.92M 3.23%	603.42K
VANGUARD BD INDEX FDSSOLE	SHORT TRM BOND	242.90K	SH	$19.12M 3.10%	242.90K
ISHARES TRSOLE	CORE S&P MCP ETF	262.28K	SH	$16.27M 2.64%	262.28K
BERKSHIRE HATHAWAY INC DELSOLE	CL B NEW	31.16K	SH	$15.14M 2.45%	31.16K
2023 ETF SERIES TRUST IISOLE	GMO US QUALITY E	368.73K	SH	$12.63M 2.05%	368.73K
PIMCO ETF TRSOLE	MULTISECTOR BD	470.82K	SH	$12.50M 2.02%	470.82K
SCHWAB STRATEGIC TRSOLE	INTL EQTY ETF	400.45K	SH	$8.85M 1.43%	400.45K
PIMCO ETF TRSOLE	1-5 US TIP IDX	131.36K	SH	$7.07M 1.15%	131.36K
PIMCO ETF TRSOLE	SHTRM MUN BD ACT	119.46K	SH	$5.99M 0.97%	119.46K
AMERICAN CENTY ETF TRSOLE	INTL EQT ETF	72.19K	SH	$5.34M 0.87%	72.19K
AMERICAN CENTY ETF TRSOLE	AVANTIS EMGMKT	72.31K	SH	$4.96M 0.80%	72.31K
VANGUARD MUN BD FDSSOLE	TAX EXEMPT BD	84.56K	SH	$4.15M 0.67%	84.56K
PIMCO ETF TRSOLE	INTER MUN BD ACT	78.97K	SH	$4.06M 0.66%	78.97K

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