Kelman Lazarov, Inc. Portfolio Holdings

Kelman Lazarov, Inc.

$644 Million
Q4 2025

Kelman Lazarov, Inc. has filed its 13F form on January 26, 2026 for Q4 2025 where it was disclosed a total value porftolio of $644 Million distributed in 134 stocks.

Among their holdings, we can observe that their the top five positions include companies like: Schwab Fundamental U S Large C with a value of $62.6M, Schwab Strategic Tr Us Large C with a value of $59.2M, Vaneck Morningstar Wide Moat E with a value of $47.7M, Spdr Portfolio S&P 500 ETF (Ma with a value of $32.4M, and Ishares Barclays 0 5 Year Tips with a value of $31.2M.

Examining the 13F form we can see an increase of $19.3M in the current position value, from $624M to 644M.

Kelman Lazarov, Inc. is based out at Memphis, TN

Below you can find more details about Kelman Lazarov, Inc. portfolio as well as his latest detailed transactions.

Portfolio value $644 Million

ETFs: $594 Million

Financial Services: $22.5 Million

Technology: $8.32 Million

Communication Services: $6.59 Million

Consumer Cyclical: $3.93 Million

Consumer Defensive: $3.03 Million

Industrials: $1.98 Million

Healthcare: $1.98 Million

Other: $262,000

Stock Holdings Table

Stock	Market Cap.	Holding Value (Reported)	# of Shares.	Last Trade
FNDX Schwab Fundamental U S Large C ETFs	$0	$62.6 Million 9.73% of portfolio	2,356,429	Q4 2025 Added 0.46%
SCHG Schwab Strategic Tr Us Large C ETFs	$0	$59.2 Million 9.2% of portfolio	1,834,823	Q4 2025 Reduced 1.18%
MOAT Vaneck Morningstar Wide Moat E ETFs	$0	$47.7 Million 7.42% of portfolio	556,020	Q4 2025 Added 0.88%
SPLG Spdr Portfolio S&P 500 ETF (Ma ETFs	$0	$32.4 Million 5.03% of portfolio	409,641	Q4 2025 Added 7.46%
STIP Ishares Barclays 0 5 Year Tips ETFs	$0	$31.2 Million 4.84% of portfolio	303,015	Q4 2025 Added 7.58%
GSLC Goldman Sachs ETF Tr Activebet ETFs	$0	$27.8 Million 4.31% of portfolio	213,417	Q4 2025 Reduced 6.45%
SCHX Schwab Strategic Tr Us Large C ETFs	$0	$27.1 Million 4.2% of portfolio	1,019,736	Q4 2025 Reduced 0.8%
AVDE American Centy ETF Tr Avantis ETFs	$0	$26.2 Million 4.07% of portfolio	326,357	Q4 2025 Added 300.29%
IJR Ishares Core S&P Sm Cap ETF ETFs	$0	$24.5 Million 3.8% of portfolio	209,258	Q4 2025 Added 2.4%

BOND Pimco Active Bond Exchange Tra ETFs	$0	$24.3 Million 3.77% of portfolio	260,274	Q4 2025 Added 3.57%
MBB Ishares Tr ETFs	$0	$23.2 Million 3.61% of portfolio	244,345	Q4 2025 Added 7.85%
FNDE Schwab Fundamental Emerging Mk ETFs	$0	$22.7 Million 3.53% of portfolio	607,762	Q4 2025 Added 0.38%
FNDC Schwab Fundamental Intl Small ETFs	$0	$21.2 Million 3.29% of portfolio	475,257	Q4 2025 Added 0.28%
BSV Vanguard Bd Index Fd Inc Short ETFs	$0	$21 Million 3.26% of portfolio	266,401	Q4 2025 Added 4.72%
IJH Ishares Core S&P Mid Cap ETF ETFs	$0	$17.5 Million 2.72% of portfolio	272,798	Q4 2025 Added 2.83%
BRK-B Berkshire Hathaway Inc Class B Financial Services	$662B	$16.4 Million 2.55% of portfolio	32,258	Q4 2025 Added 1.69%
GSIE Goldman Sachs ETF Tr Activebet ETFs	$0	$14.8 Million 2.29% of portfolio	468,352	Q4 2025 Reduced 49.87%
SCHF Schwab Strategic Tr Intl Eqty ETFs	$0	$9.54 Million 1.48% of portfolio	398,594	Q4 2025 Added 0.5%

VUG Vanguard Growth ETF ETFs	$0	$7.76 Million 1.21% of portfolio	16,045	Q4 2025 Added 5.55%
STPZ Pimco ETF Tr 1 5 Yr Us Tips In ETFs	$0	$7.28 Million 1.13% of portfolio	135,060	Q4 2025 Added 1.72%
SMMU Pimco ETF Tr Sht Term Mun Bd A ETFs	$0	$6.97 Million 1.08% of portfolio	138,186	Q4 2025 Added 2.5%
AVEM American Centy ETF Tr Avantis ETFs	$0	$5.46 Million 0.85% of portfolio	70,326	Q4 2025 Added 0.38%
MUNI Pimco ETF Tr Inter Mun Bd Acti ETFs	$0	$4.3 Million 0.67% of portfolio	81,905	Q4 2025 Added 7.6%
VTEB Vanguard Mun Bd Fds Tax Exempt ETFs	$0	$4.03 Million 0.63% of portfolio	80,253	Q4 2025 Added 1.88%
SPY Spdr S&P 500 ETF Trust ETFs	$0	$3.99 Million 0.62% of portfolio	5,999	Q4 2025 Reduced 1.14%
VV Vanguard Large Cap ETF ETFs	$0	$3.65 Million 0.57% of portfolio	11,767	Q4 2025 Added 82.49%
GOOGL Alphabet Inc. Communication Services	$1.65T	$3.67 Million 0.57% of portfolio	13,288	Q4 2025 Reduced 0.22%
RWL Invesco Exchange Traded Fd Tr ETFs	$0	$3.66 Million 0.57% of portfolio	32,654	Q4 2025 Reduced 1.38%
AAPL Apple Inc. Technology	$4.3T	$3.5 Million 0.54% of portfolio	13,092	Q4 2025 Added 9.2%
BIV Vanguard Bd Index Fd Inc Inter ETFs	$0	$3.31 Million 0.51% of portfolio	42,537	Q4 2025 Added 3.83%
VTV Vanguard Value ETF ETFs	$0	$2.91 Million 0.45% of portfolio	15,535	Q4 2025 Reduced 0.01%
PTRB Pgim ETF Tr Total Return Bd Et ETFs	$0	$2.74 Million 0.43% of portfolio	65,143	Q4 2025 Added 22.35%
MSFT Microsoft Corp Technology	$3.78T	$2.57 Million 0.4% of portfolio	5,058	Q4 2025 Added 39.03%
MA Mastercard Inc Financial Services	$512B	$2.17 Million 0.34% of portfolio	4,046	Q4 2025 Added 0.27%
FNDA Schwab Fundamental U S Small C ETFs	$0	$2.11 Million 0.33% of portfolio	69,405	Q4 2025 Reduced 1.12%
MDY Spdr S&P Midcap 400 ETF Trust ETFs	$0	$1.81 Million 0.28% of portfolio	3,090	Q4 2025 Reduced 0.77%
SCHA Schwab Strategic Tr Us Small C ETFs	$0	$1.77 Million 0.28% of portfolio	64,558	Q4 2025 Added 0.92%
VOO Vanguard Index Fds S&P 500 ETF ETFs	$0	$1.77 Million 0.28% of portfolio	2,868	Q4 2025 Added 1.92%
IVV Ishares Core S&P 500 ETF ETFs	$0	$1.75 Million 0.27% of portfolio	2,596	Q4 2025 Added 0.04%
SPMD Spdr Portfolio ETFs	$0	$1.65 Million 0.26% of portfolio	29,376	Q4 2025 Added 1.22%
GNMA Ishares Gnma Bond ETF ETFs	$0	$1.61 Million 0.25% of portfolio	36,184	Q4 2025 Reduced 26.69%
SCHM Schwab Strategic U.S. Mid Cap ETFs	$0	$1.52 Million 0.24% of portfolio	52,267	Q4 2025 Added 0.88%
BRK-A Berkshire Hathaway Inc Financial Services	$453B	$1.51 Million 0.23% of portfolio	2	Q4 2023 Reduced 33.33%
IYY Ishares Tr ETFs	$0	$1.45 Million 0.22% of portfolio	8,871	Q4 2025 Reduced 0.21%
VIG Vanguard Dividend Appreciation ETFs	$0	$1.39 Million 0.22% of portfolio	7,614	Q4 2025 Added 0.05%
AVSU American Centy ETF Tr Avantis ETFs	$0	$1.44 Million 0.22% of portfolio	19,537	Q4 2025 Added 62.85%
SRCE 1 St Source Corp Financial Services	$1.51B	$1.44 Million 0.22% of portfolio	23,406	Q4 2025 Reduced 0.06%
VCSH Vanguard Sht Term Corp Bd ETF ETFs	$0	$1.33 Million 0.21% of portfolio	16,672	Q4 2025 Added 1.41%
WMT Walmart Inc. Consumer Defensive	$279B	$1.27 Million 0.2% of portfolio	12,304	Q4 2025 Added 1.93%
DIA Spdr Dow Jones Industrial Average ETF Trust ETFs	$0	$1.31 Million 0.2% of portfolio	2,777	Q4 2025 Added 0.4%

Summary

Portfolio
No. of Stocks 134
Current Value $644 Million
Prior Value $624 Million
Filing
Period Q4 2025
Filing Date January 26, 2026
Form Type 13F-HR
Activity in Q4 2025
New Purchases 5 stocks
Additional Purchases 79 stocks
Sold out of 0 stocks
Reduced holdings in 35 stocks

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Kelman Lazarov, Inc. Portfolio Holdings