Elser Financial Planning, Inc

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CIK 2028202

13F portfolio (2026-Q1)

$2.1B

Positions

132

Implied 1Y CAGR

modeled · as filed

Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.

Implied return what this book implies · modeled, not advice methodology →

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As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).

Computing…

Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.

Exposures · what this manager owns, by sector & size (2026-Q1)

Holdings

132

Top 5

77.1%

Top 10

86.5%

Effective N

2.9

HHI

0.342

This quarter

61 new · 0 exit →

By sector

Financials57.5%

Unclassified39.3%

Health Care1.4%

Information Technology0.7%

Consumer Discretionary0.3%

Industrials0.3%

Communication Services0.1%

Consumer Staples0.1%

Other0.2%

By market cap

Mid ($2–10B)57.3%

Unknown39.4%

Mega (>$200B)2.6%

Large ($10–200B)0.6%

By region

North America60.6%

Other39.3%

Europe0.1%

Asia-Pacific0.0%

By industry group GICS — finer than sector

Industry group	Weight	Names
Banks	57.35%	5
Unclassified	39.30%	65
Pharmaceuticals & Biotechnology	1.42%	7
Technology Hardware & Equipment	0.38%	3
Specialty Retail	0.28%	6
Semiconductors & Semiconductor Equipment	0.15%	5
Software	0.14%	2
Road & Rail	0.14%	3
Insurance	0.12%	3
Oil, Gas & Consumable Fuels	0.10%	4
Software & IT Services	0.09%	2
Beverages	0.08%	2
Machinery	0.06%	2
Chemicals	0.05%	2
Commercial Services & Supplies	0.05%	3
Utilities	0.03%	2
Metals & Mining	0.03%	1
Capital Markets	0.03%	1
Hotels, Restaurants & Leisure	0.03%	2
Aerospace & Defense	0.03%	2
Diversified Telecommunication Services	0.02%	1
Media & Entertainment	0.02%	2
Health Care Equipment & Supplies	0.02%	1
Electrical Equipment & Components	0.02%	1
Food & Staples Retailing	0.01%	1
Automobiles & Components	0.01%	1
Agricultural Products	0.01%	1
Equity Real Estate Investment Trusts (REITs)	0.01%	1
Communications Equipment	0.01%	1

Top holdings

#	Ticker	Name	Sector	Weight
1	MBIN	Merchants Bancorp	Financials	57.21%
2	DFCF	DIMENSIONAL ETF TRUST	Unclassified	8.62%
3	DFAU	DIMENSIONAL ETF TRUST	Unclassified	4.34%
4	DFIC	DIMENSIONAL ETF TRUST	Unclassified	3.75%
5	DFUS	DIMENSIONAL ETF TRUST	Unclassified	3.21%
6	DFUV	DIMENSIONAL ETF TRUST	Unclassified	2.09%
7	DFAS	DIMENSIONAL ETF TRUST	Unclassified	1.91%
8	DFGX	DIMENSIONAL ETF TRUST	Unclassified	1.80%
9	DFSD	DIMENSIONAL ETF TRUST	Unclassified	1.80%
10	DFEM	DIMENSIONAL ETF TRUST	Unclassified	1.73%

67/132 names classified · sector 60.7% of weight · industry 60.7% · mkt cap 60.6%; unclassified names shown, never dropped.

Sector allocation over time · how the GICS mix & top names shifted quarter by quarter

top 5/sector, rest → “Other” · 8 quarters

FinancialsMBIN, BRO, ELV, ALL, WRB · other

Health CareLLY, JNJ, SYK, ABT, NVO · other

Information TechnologyAAPL, MSFT, APH, QCOM, INTU · other

Consumer DiscretionaryAMZN, LOW, MCD, BRC, WMT · other

IndustrialsUNP, NSC, CAT, CSX, R · other

MaterialsPG, APD, CL, WPM

Consumer StaplesKR, PEP, KO, CTVA

EnergyCVX, SHEL, XOM, MPLX

Communication ServicesDIS, GOOGL, LBRDK, GOOG, CHTR · other

UtilitiesEPD, NEE

Real Estate

UnclassifiedDFCF, DFUS, DFGX, DFAS, DFAU · other

Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 60.7% of the book is sector-classified (unclassified names shown, never dropped).

Style box · size × value-growth placement of the reported book (2026-Q1), classified on current fundamentals (not point-in-time) — load it into PORT to overlay your own portfolio

holdings, colored by sector (59 classified)Elser Financial Planning, Inc centroid (Small Core)

FinancialsHealth CareInformation TechnologyConsumer DiscretionaryIndustrialsCommunication ServicesConsumer StaplesEnergyMaterialsUtilitiesReal Estate

Style box summary for Elser Financial Planning, Inc: centroid Small Core. Heaviest cells: Small Core 57.2%, Large Growth 2.1%, Large Core 0.6%.

Classified: 60.5% of book weight (59/132 names) · unclassified 39.5%: DFCF, DFAU, DFIC, DFUS, DFUV, DFAS, DFGX, DFSD, DFEM, DFSV +63 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.

Contribution holdings-based, any period

No contribution data for this period.

Holdings· 132 positions (2026-Q1) · largest first · Δ vs 2025-Q4

#	Security	Shares	Value	Weight	Δ QoQ
1	MBINMERCHANTS BANCORP IND	26,983,101	$1.2B	57.2%	NEW
2	DFCFDIMENSIONAL ETF TRUST	4,200,025	$178M	8.6%	ADD 13685%
3	DFAUDIMENSIONAL ETF TRUST	1,981,512	$89M	4.3%	NEW
4	DFICDIMENSIONAL ETF TRUST	2,170,433	$77M	3.7%	NEW
5	DFUSDIMENSIONAL ETF TRUST	931,031	$66M	3.2%	ADD 2077%
6	DFUVDIMENSIONAL ETF TRUST	891,980	$43M	2.1%	ADD 12074%
7	DFASDIMENSIONAL ETF TRUST	555,668	$39M	1.9%	ADD 2754%
8	DFGXDIMENSIONAL ETF TRUST	707,855	$37M	1.8%	ADD 11%
9	DFSDDIMENSIONAL ETF TRUST	772,713	$37M	1.8%	NEW
10	DFEMDIMENSIONAL ETF TRUST	1,043,991	$36M	1.7%	NEW
11	DFSVDIMENSIONAL ETF TRUST	911,843	$32M	1.5%	NEW
12	LLYELI LILLY & CO	25,824	$24M	1.2%	HOLD
13	DFATDIMENSIONAL ETF TRUST	369,253	$23M	1.1%	NEW
14	DUHPDIMENSIONAL ETF TRUST	562,024	$21M	1.0%	NEW
15	DFAXDIMENSIONAL ETF TRUST	518,020	$18M	0.9%	ADD 2223%
16	DFSIDIMENSIONAL ETF TRUST	233,159	$10M	0.5%	NEW
17	DFGRDIMENSIONAL ETF TRUST	364,322	$10M	0.5%	NEW
18	DFSUDIMENSIONAL ETF TRUST	226,039	$9M	0.5%	NEW
19	DCORDIMENSIONAL ETF TRUST	102,763	$7M	0.4%	NEW
20	AAPLAPPLE INC	27,648	$7M	0.3%	HOLD
21	SUSBISHARES TR	272,382	$7M	0.3%	NEW
22	DFAIDIMENSIONAL ETF TRUST	163,876	$6M	0.3%	NEW
23	VOOVANGUARD INDEX FDS	10,304	$6M	0.3%	ADD 14%
24	DFLVDIMENSIONAL ETF TRUST	160,572	$6M	0.3%	NEW
25	DFAEDIMENSIONAL ETF TRUST	170,293	$6M	0.3%	NEW
26	DFSEDIMENSIONAL ETF TRUST	126,714	$5M	0.3%	NEW
27	VTEBVANGUARD MUN BD FDS	89,699	$4M	0.2%	ADD 26%
28	SCHXSCHWAB U.S. LARGE-CAP ETF	134,137	$3M	0.2%	HOLD
29	SCHASCHWAB STRATEGIC TR	98,821	$3M	0.1%	TRIM −5%
30	SCHBSCHWAB STRATEGIC TR	104,795	$3M	0.1%	HOLD
31	VCSHVANGUARD SCOTTSDALE FDS	31,241	$2M	0.1%	NEW
32	COSTCOSTCO WHSL CORP NEW	2,420	$2M	0.1%	NEW
33	JPMJPMORGAN CHASE & CO	7,953	$2M	0.1%	NEW
34	SCHFSCHWAB STRATEGIC TR	91,194	$2M	0.1%	TRIM −2%
35	VUSBVANGUARD BD INDEX FDS	44,179	$2M	0.1%	NEW
36	MSFTMICROSOFT CORP	5,955	$2M	0.1%	HOLD
37	JNJJOHNSON & JOHNSON	8,521	$2M	0.1%	HOLD
38	VBVANGUARD INDEX FDS	8,026	$2M	0.1%	TRIM −8%
39	BROBROWN & BROWN INC	29,512	$2M	0.1%	HOLD
40	NVDANVIDIA CORPORATION	10,979	$2M	0.1%	NEW
41	ANAUTONATION INC	8,161	$2M	0.1%	NEW
42	UNPUNION PAC CORP	6,893	$2M	0.1%	HOLD
43	NVSNOVARTIS AG	8,978	$1M	0.1%	NEW
44	GOOGLALPHABET INC	4,552	$1M	0.1%	NEW
45	QTECFIRST TR EXCHANGE-TRADED FD	5,783	$1M	0.1%	HOLD
46	KOCOCA COLA CO	15,985	$1M	0.1%	HOLD
47	FXLFIRST TR EXCHANGE-TRADED FD	6,786	$1M	0.1%	NEW
48	VEAVANGUARD TAX-MANAGED FDS	14,863	$951,973	0.0%	HOLD
49	SCHGSCHWAB U.S. LARGE-CAP GROWTH ETF	32,260	$938,917	0.0%	HOLD
50	CATCATERPILLAR INC	1,279	$919,503	0.0%	HOLD
51	DFACDIMENSIONAL ETF TRUST	23,487	$911,773	0.0%	NEW
52	SPYGSPDR SERIES TRUST STATE STREET SPD	1,377	$895,240	0.0%	NEW
53	CVXCHEVRON CORP NEW	4,371	$882,513	0.0%	HOLD
54	FORAFORIAN INC	402,972	$834,152	0.0%	NEW
55	VIGVANGUARD SPECIALIZED FUNDS	3,652	$783,829	0.0%	HOLD
56	DFIVDIMENSIONAL ETF TRUST	14,325	$755,975	0.0%	ADD 84%
57	VTEIVANGUARD MUN BD FDS	7,032	$703,396	0.0%	HOLD
58	XLESELECT SECTOR SPDR TR	11,600	$697,416	0.0%	NEW
59	BITWBITWISE 10 CRYPTO INDEX ETF	15,861	$689,398	0.0%	HOLD
60	PGPROCTER AND GAMBLE CO	4,802	$687,556	0.0%	HOLD
61	VTVVANGUARD INDEX FDS	3,465	$679,404	0.0%	ADD 11%
62	WMTWALMART INC	5,433	$679,370	0.0%	HOLD
63	NSCNORFOLK SOUTHN CORP	2,357	$673,913	0.0%	HOLD
64	ORCLORACLE CORP	4,511	$644,603	0.0%	NEW
65	WPMWHEATON PRECIOUS METALS CORP	4,715	$639,213	0.0%	NEW
66	APOAPOLLO GLOBAL MGMT INC	4,910	$616,966	0.0%	NEW
67	METAMETA PLATFORMS INC	1,062	$602,836	0.0%	NEW
68	SCHESCHWAB STRATEGIC TR	17,821	$581,166	0.0%	TRIM −8%
69	ABBVABBVIE INC	2,629	$555,108	0.0%	NEW
70	TTTRANE TECHNOLOGIES PLC	1,290	$548,714	0.0%	NEW
71	XOMEXXON MOBIL CORP	3,337	$542,126	0.0%	NEW
72	PEPPEPSICO INC	3,370	$523,188	0.0%	TRIM −3%
73	FXDFIRST TR EXCHANGE TRADED FD	8,000	$505,200	0.0%	NEW
74	ALLEALLEGION PLC	2,435	$501,591	0.0%	NEW
75	VGTVANGUARD WORLD FD	689	$482,131	0.0%	NEW
76	VTIVANGUARD INDEX FDS	1,489	$477,672	0.0%	HOLD
77	CSXCSX CORP	11,438	$465,123	0.0%	HOLD
78	TAT&T INC	16,454	$464,138	0.0%	NEW
79	EMXCISHARES INC	5,880	$456,935	0.0%	NEW
80	VTECVANGUARD CALIF TAX FREE FDS	4,532	$449,370	0.0%	HOLD
81	IVVISHARES TR	688	$449,333	0.0%	HOLD
82	GLDSPDR GOLD TR	1,043	$446,701	0.0%	HOLD
83	LOWLOWES COS INC	1,793	$413,206	0.0%	HOLD
84	SYKSTRYKER CORPORATION	1,242	$407,500	0.0%	HOLD
85	MRKMERCK & CO INC	3,303	$398,946	0.0%	NEW
86	PFFISHARES TR	13,154	$398,829	0.0%	NEW
87	VTESVANGUARD WELLINGTON FD	3,945	$398,662	0.0%	HOLD
88	CLCOLGATE PALMOLIVE CO	4,631	$393,377	0.0%	HOLD
89	QQQINVESCO QQQ TR	676	$390,949	0.0%	HOLD
90	CSCOCISCO SYS INC	4,965	$387,356	0.0%	NEW
91	NEENEXTERA ENERGY INC	4,025	$377,424	0.0%	NEW
92	MUMICRON TECHNOLOGY INC	1,001	$356,436	0.0%	HOLD
93	TSMTAIWAN SEMICONDUCTOR MFG LTD	1,056	$353,760	0.0%	HOLD
94	DUSBDIMENSIONAL ETF TRUST	6,949	$352,453	0.0%	NEW
95	DFAWDIMENSIONAL ETF TRUST	4,622	$340,295	0.0%	NEW
96	GEVGE VERNOVA INC	375	$336,170	0.0%	NEW
97	VWOVANGUARD INTL EQUITY INDEX F	6,151	$328,876	0.0%	TRIM −12%
98	SCHHSCHWAB STRATEGIC TR	15,101	$326,780	0.0%	TRIM −6%
99	VEUVANGUARD INTL EQUITY INDEX F	4,159	$311,591	0.0%	TRIM −4%
100	SHELSHELL PLC	3,318	$311,063	0.0%	HOLD
101	EFAISHARES TR	3,163	$307,222	0.0%	HOLD
102	RRYDER SYS INC	1,515	$306,530	0.0%	HOLD
103	INTCINTEL CORP	6,214	$306,016	0.0%	HOLD
104	MCDMCDONALDS CORP	959	$291,276	0.0%	ADD 3%
105	KRKROGER CO	3,952	$286,241	0.0%	HOLD
106	LMTLOCKHEED MARTIN CORP	458	$285,886	0.0%	HOLD
107	EPDENTERPRISE PRODS PARTNERS L	7,488	$281,324	0.0%	HOLD
108	MARMARRIOTT INTL INC NEW	853	$279,333	0.0%	TRIM −7%
109	SPIBSPDR SERIES TRUST	8,347	$279,249	0.0%	NEW
110	FHEQFIDELITY GREENWOOD STREET TR	9,484	$278,593	0.0%	NEW
111	BACBANK AMERICA CORP	5,725	$278,292	0.0%	HOLD
112	TSLATESLA INC	738	$271,086	0.0%	NEW
113	RTXRTX CORPORATION	1,351	$265,361	0.0%	HOLD
114	TJXTJX COS INC NEW	1,636	$263,021	0.0%	HOLD
115	ELVELEVANCE HEALTH INC FORMERLY	873	$261,713	0.0%	TRIM −2%
116	TXNTEXAS INSTRS INC	1,360	$261,297	0.0%	HOLD
117	MPLXMPLX LP	4,687	$259,894	0.0%	NEW
118	PFEPFIZER INC	8,991	$256,244	0.0%	HOLD
119	PHPARKER-HANNIFIN CORP	270	$244,471	0.0%	HOLD
120	ABTABBOTT LABS	2,307	$236,283	0.0%	HOLD
121	UNHUNITEDHEALTH GROUP INC	851	$234,008	0.0%	NEW
122	CTVACORTEVA INC	2,746	$230,980	0.0%	NEW
123	HDHOME DEPOT INC	720	$230,908	0.0%	ADD 2%
124	LBRDKLIBERTY BROADBAND CORP	31,650	$225,663	0.0%	HOLD
125	CBSHCOMMERCE BANCSHARES INC	4,523	$221,944	0.0%	HOLD
126	MAMASTERCARD INCORPORATED	449	$221,820	0.0%	NEW
127	CHTRCHARTER COMMUNICATIONS INC	1,001	$214,324	0.0%	NEW
128	HSBCHSBC HLDGS PLC	2,500	$209,325	0.0%	NEW
129	SPYSTATE STR SPDR S&P 500 ETF T	6,941	$208,667	0.0%	NEW
130	EXREXTRA SPACE STORAGE INC	1,543	$204,745	0.0%	NEW
131	QCOMQUALCOMM INC	1,631	$203,320	0.0%	TRIM −7%
132	VISVANGUARD WORLD FD	646	$203,112	0.0%	NEW

Position trends· top 15 holdings · shares held over 6 quarters

green added · red trimmed

Security

2024-Q4

2025-Q1

2025-Q2

2025-Q3

2025-Q4

2026-Q1

Latest value

MBINMERCHANTS BANCORP IND

27.3M

—

27.0M

$1.2B

DFCFDIMENSIONAL ETF TRUST

3.44B

30K

4.2M

$178M

DFAUDIMENSIONAL ETF TRUST

1.98B

—

2.0M

$89M

DFICDIMENSIONAL ETF TRUST

2.02B

—

2.2M

$77M

DFUSDIMENSIONAL ETF TRUST

1.0M

43K

931K

$66M

DFUVDIMENSIONAL ETF TRUST

986K

892K

$43M

DFASDIMENSIONAL ETF TRUST

733K

19K

556K

$39M

DFGXDIMENSIONAL ETF TRUST

—

635K

708K

$37M

DFSDDIMENSIONAL ETF TRUST

710K

—

773K

$37M

DFEMDIMENSIONAL ETF TRUST

1.02B

—

1.0M

$36M

DFSVDIMENSIONAL ETF TRUST

—

912K

$32M

LLYELI LILLY & CO

20K

21K

20K

26K

$24M

DFATDIMENSIONAL ETF TRUST

706K

—

369K

$23M

DUHPDIMENSIONAL ETF TRUST

—

562K

$21M

DFAXDIMENSIONAL ETF TRUST

559K

22K

518K

$18M

Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.

☆Elser Financial Planning, Inc