Investment adviser · CRD 167225

ELM WEALTH

Investment adviser filing (IA)

ELM PARTNERS MANAGEMENT LLC

PHILADELPHIA, PA, United States · Form ADV filed Sep 3, 2026

Regulatory AUM: $3.02B
Client accounts: 905
Employees: 9
Advisory professionals: 7

Who they report serving

Form ADV · Item 5.D

Client types and their share of reported regulatory assets.

Client type	Clients	Regulatory assets	Share of AUM
High-net-worth individuals	537	$2,029,739,810	67.3%
Investment companies	1	$502,030,447	16.6%
Pooled investment vehicles	3	$382,611,344	12.7%
Individuals	107	$71,773,174	2.4%
Charities	Fewer than 5	$27,775,613	0.9%
Corporations & businesses	Fewer than 5	$4,269,463	0.1%

Filing source

Form ADV 2125164 · Sep 3, 2026 · Item 5.D

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Private funds & service providers

4 Private funds

The count excludes feeder funds. Funds in the latest filing appear first, ordered by reported gross assets. Earlier funds retain their last reported values.

ELM PARTNERS PORTFOLIO LTD.Other Private Fund · Last reported Sep 3, 2026$297MGross asset value

Fund administrator BOLDER FUND SERVICES (CURACAO) N.V. CURACAO, Other Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor BERKOWER ISELIN, New Jersey, United States

Auditor RANKIN BERKOWER (CAYMAN) LTD GEORGE TOWN, Cayman Islands

Custodian FIDELITY BROKERAGE SERVICES LLC SMITHFIELD, Rhode Island, United States Related to adviser: No

Custodian INTERACTIVE BROKERS LLC GREENWICH, Connecticut, United States Related to adviser: No

Custodian J.P. MORGAN SECURITIES LLC NEW YORK, New York, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

BERKOWER
PCAOB 217

FIDELITY BROKERAGE SERVICES LLC
SEC 8-23292

INTERACTIVE BROKERS LLC
SEC 8-47257

J.P. MORGAN SECURITIES LLC
SEC 8-35008

Fund details & source

Fund ID: 805-9460357776
Reported beneficial owners: 53
Minimum commitment: $1M

Form ADV 2125164 · Sep 3, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

ELM PARTNERS ALL EQUITY PORTFOLIOOther Private Fund · Last reported Sep 3, 2026$58.8MGross asset value

Fund administrator BOLDER FUND SERVICES (CURACAO) N.V. WILLEMSTAD, Curacao Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor BERKOWER LLC ISELIN, New Jersey, United States

Auditor RANKIN BERKOWER (CAYMAN) LTD GEORGE TOWN, Cayman Islands

Custodian FIDELITY BROKERAGE SERVICES LLC SMITHFIELD, Rhode Island, United States Related to adviser: No

Custodian INTERACTIVE BROKERS LLC GREENWICH, Connecticut, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

BERKOWER LLC
PCAOB 217

FIDELITY BROKERAGE SERVICES LLC
SEC 8-23292

INTERACTIVE BROKERS LLC
SEC 8-47257

Fund details & source

Fund ID: 805-3995157100
Reported beneficial owners: 8
Minimum commitment: $1M

Form ADV 2125164 · Sep 3, 2026 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

ELM PARTNERS PORTFOLIO LLCOther Private Fund · Last reported Dec 18, 2025$360MGross asset value

Form D fundraising filings

Elm Partners Portfolio LLC

Fund administrator BOLDER FUND SERVICES (CURACAO) N.V. CURACAO, Other Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor RYAN AND JURASKA, LLP CHICAGO, Illinois, United States

Custodian FIDELITY BROKERAGE SERVICES LLC SMITHFIELD, Rhode Island, United States Related to adviser: No

Custodian INTERACTIVE BROKERS LLC GREENWICH, Connecticut, United States Related to adviser: No

Custodian VANGUARD MARKETING CORPORATION MALVERN, Pennsylvania, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

RYAN AND JURASKA, LLP
PCAOB 3407

FIDELITY BROKERAGE SERVICES LLC
SEC 8-23292

INTERACTIVE BROKERS LLC
SEC 8-47257

VANGUARD MARKETING CORPORATION
SEC 8-21570

Fund details & source

Fund ID: 805-5302702371
Reported beneficial owners: 57
Minimum commitment: $2M
Form D file number: 021-178265

Form ADV 2033001 · Dec 18, 2025 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

ELM PARTNERS GLOBAL RISK ASSET LTD.Hedge Fund · Last reported Mar 30, 2015$0Gross asset value

Fund administrator CIRCLE INVESTMENT SUPPORT SERVICES (CURACAO) NV CURACAO, Other Investor statements: Yes (provided to all investors) Related to adviser: No

Auditor MCGLADREY LLP - CERTIFIED PUBLIC ACCOUNTANTS CHICAGO, Illinois, United States

Custodian MORGAN STANLEY SMITH BARNEY LLC PURCHASE, New York, United States Related to adviser: No

Provider details

Annual audit: Yes
Prime brokers: No
Custodians: Yes
Administrator other than the adviser: Yes
External marketing: No

MORGAN STANLEY SMITH BARNEY LLC
SEC 8-68191

Fund details & source

Fund ID: 805-8075414347
Reported beneficial owners: 0
Minimum commitment: $1M

Form ADV 894571 · Mar 30, 2015 · Schedule D 7.B.(1)

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.

Services & filing details

Most recent filing: Sep 3, 2026. View historical filings

Reported services

Financial planning · Individual portfolio management · Investment company portfolio management · Pooled investment vehicle management

Compensation

Percentage of assets · Fixed

Principal office

50 S 16TH ST., FL 18 STE C
PHILADELPHIA, PA, 19102, United States

CRD 167225

Filing source

Form ADV 2125164 · Sep 3, 2026 · Items 1 & 5

Official IAPD profile (latest public filing). Values are the most recently reported in our imported data; the public profile may show a newer filing.