10Elms LLP

CIK 0002056650 · Q1 2026

13F Equity AUM

$158.5M

+45.4% QoQ

Positions

478

+12 QoQ

AUM Rank

#8,324

Top 67%

Skill Alpha (FF)

—

Building track record (4q)

Quarters Tracked

~1 years

Portfolio Concentration

Top 5: 26.3%Top 10: 38.5%Top 20: 55.8%

IEFA10.9%

IEMG4.4%

XLK4.3%

USMV3.5%

XLV3.1%

BND2.7%

VTV2.6%

SPY2.6%

QUAL2.2%

SCHD2.0%

Others (468)61.5%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Financial Services84.8%

Fixed Income7.2%

Other8.0%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 478Median: 0.03%Avg: 0.21%

0–0.5%

437(23.8%)

0.5–1%

11(8.0%)

1–3%

25(41.9%)

3–5%

4(15.4%)

5%+

1(10.9%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 182Unique: 296vs 20 funds

2.4%Low

478

Fund positions

7,299

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

3.2%

BANK OF AMERICA CORP /DE/

3.6%

3.2%

4.4%

3.1%

2.2%

VANGUARD CAPITAL MANAGEMENT LLC

1.8%

GEODE CAPITAL MANAGEMENT, LLC

1.6%

VANGUARD PORTFOLIO MANAGEMENT LLC

1.9%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New42Increased91Decreased19Exited30

New Positions

AMGN0.2%

+806

AGG0.1%

+2K

UNP0.1%

+600

FJUL0.1%

+2K

MINT0.1%

+1K

GSY0.1%

+3K

VCSH0.1%

+2K

VUG0.1%

+200

BUFR0.1%

+3K

ITDF0.1%

+2K

Increased

IEFA10.9%

+64K(+52%)

IBDU1.4%

+63K(+186%)

IBDS1.5%

+61K(+168%)

IBDV1.2%

+61K(+220%)

IBDR1.6%

+61K(+131%)

IBDT1.7%

+61K(+130%)

FNDA1.4%

+50K(+309%)

IBDW0.9%

+44K(+200%)

FLRN1.0%

+40K(+363%)

IBDX0.7%

+28K(+184%)

Decreased

NTRS 4.7 PERP E0.1%

-1,500(-18%)

GDV 4.25 PERP K0.1%

-1,400(-20%)

KKR0.2%

-1,173(-29%)

LQD0.4%

-830(-13%)

GAB 5 PERP G0.1%

-800(-8%)

SFM0.0%

-609(-80%)

PSA 4.625 PERP L0.0%

-400(-15%)

WMB0.1%

-342(-9%)

VTIP0.0%

-190(-32%)

CWI0.1%

-150(-4%)

Exited

-75,000

-50,000

-50,000

-55,000

-40,000

-45,000

-39,000

-35,000

-30,000

-35,000

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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