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Elser Financial Planning, Inc — 13F Holdings & Portfolio

CIK 2028202 · latest 13F-HR filed 2026-10-16

Backtest portfolio

Elser Financial Planning, Inc manages $2.28B in 13F-reported U.S. long-equity assets across 132 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are MBIN (57.42%), DFCF (6.67%), DFAU (4.56%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 16 new positions and exited 8; 22 existing positions rose in reported value and 42 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$2.28B

Long-equity book

Holdings
132

Distinct positions

Period
2026-09-30

Filed 2026-10-16

Q/Q Activity
+16 / −8 / ↑22 / ↓42

vs 2026-06-30

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q3 26
MBIN57.4% · -0%DFCF6.7% · -14%DFAU4.6% · 0%DFIC3.8% · +3%DFUS3.3% · -0%DFGP2.3% · newDFUV2.0% · -7%DFEM1.9% · +3%DFAS1.8% · -1%DFSD1.7% · +3%AVLV1.0% · newLLY1.0% · +1%DFAT0.9% · -15%DFSV0.9% · -42%DFAX0.8% · -0%AVUV0.8% · newDFGX0.8% · -56%DUHP0.6% · -48%DFSI0.5% · -5%VOO0.4% · +4%DFSU0.4% · -17%DFGR0.4% · -0%AAPL0.4% · +1%DCOR0.4% · -1%VSDM0.3% · newDFAI0.3% · -1%DFAE0.3% · -2%DFSE0.3% · -5%DFLV0.2% · -38%VTEB0.2% · -17%SCHX0.2% · -4%VCRM0.2% · newSCHB0.1% · -2%SCHA0.1% · -4%SPYG0.1% · +169%DFNM0.1% · newVB0.1% · -1%MSFT0.1% · +3%NVDA0.1% · +2%JPM0.1% · +1%SCHF0.1% · -3%JNJ0.1% · +0%COST0.1% · -5%VTIP0.1% · newQTEC0.1% · 0%BRO0.1% · +0%AN0.1% · +3%GOOGL0.1% · +2%FXL0.1% · 0%VCSH0.1% · -39%NVS0.1% · 0%VUSB0.1% · -41%VEA0.1% · +8%SCHG0.1% · 0%VTES0.1% · +109%MU0.0% · +3%DFAC0.0% · +0%UNP0.0% · +0%BITW0.0% · 0%VIG0.0% · 0%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q2 26 → Q3 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

4 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 85.4%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Sep 29, 2026.

Assets Under Management
$2.11B
Discretionary
$1.13B
Employees
15
Accounts
1,643
Address
8900 KEYSTONE CROSSING
SUITE 450
INDIANAPOLIS, IN 46240
Phone
(317) 731-5615
Website
Name Title / Status Ownership Type
ELSER, SUSAN, CHRISTINE ControlPRESIDENT
since Jan 2007
50–75%Individual
GILES, ZACHARY, GSHAREHOLDER
since Jan 2024
Less than 5%Individual
HAMILTON, DEREK, CARTERSHAREHOLDER
since Jan 2017
Less than 5%Individual
HERNDON, JONATHAN, LEESHAREHOLDER/MANAGING PARTNER
since Jan 2017
10–25%Individual
MURPHY, LINDA, DCCO/MANAGING PARTNER
since Dec 2012
5–10%Individual
McDaniel, Samuel, RabonSHAREHOLDER
since Jan 2025
Less than 5%Individual
Shetter, Eric, ASHAREHOLDER
since Feb 2021
Less than 5%Individual
Tranovich, KATHLEEN, ELLENSHAREHOLDER/MANAGING PARTNER
since Jan 2023
5–10%Individual
Wenglikowski, James, RobertSHAREHOLDER
since Jan 2025
Less than 5%Individual
Zander, MackenzieSHAREHOLDER/OPERATIONS
since Jan 2025
Less than 5%Individual
Ownership & leadership changes · 7 filings with changes since Jan 12, 2015

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 6, 2026 filing
  • AddedMcDaniel, Samuel, Rabon · SHAREHOLDER · Less than 5%
  • AddedWenglikowski, James, Robert · SHAREHOLDER · Less than 5%
  • AddedZander, Mackenzie · SHAREHOLDER/OPERATIONS · Less than 5%
  • ChangedELSER, SUSAN, CHRISTINE · ownership 75% or more → 50–75%
Feb 10, 2025 filing
  • AddedGILES, ZACHARY, G · SHAREHOLDER · Less than 5%
  • ChangedTranovich, KATHLEEN, ELLEN · ownership Less than 5% → 5–10%
Jan 19, 2024 filing
  • AddedTranovich, KATHLEEN, ELLEN · SHAREHOLDER/MANAGING PARTNER · Less than 5%
  • ChangedHERNDON, JONATHAN, LEE · title SHAREHOLDER → SHAREHOLDER/MANAGING PARTNER; ownership 5–10% → 10–25%
  • ChangedMURPHY, LINDA, D · title CCO → CCO/MANAGING PARTNER
Feb 5, 2021 filing
  • AddedShetter, Eric, A · SHAREHOLDER · Less than 5%
  • ChangedHERNDON, JONATHAN, LEE · ownership Less than 5% → 5–10%
Apr 30, 2020 filing
  • ChangedMURPHY, LINDA, D · ownership Less than 5% → 5–10%
Apr 18, 2017 filing
  • ChangedHAMILTON, DEREK, CARTER · title CFP → SHAREHOLDER
  • ChangedHERNDON, JONATHAN, LEE · title PLANNER - CFP CANDIDATE → SHAREHOLDER
Jan 27, 2017 filing
  • AddedHAMILTON, DEREK, CARTER · CFP · Less than 5%
  • AddedHERNDON, JONATHAN, LEE · PLANNER - CFP CANDIDATE · Less than 5%
Jan 12, 2015 filing (earliest on record)
  • ListedELSER, SUSAN, CHRISTINE · PRESIDENT · 75% or more · control person
  • ListedMURPHY, LINDA, D · CCO · Less than 5%

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

Elser Financial Planning, Inc Holdings (2026-09-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 MERCHANTS BANCORP IND MBIN 58844R108 $1.31B 57.42% 26,797,327 SH
2 DIMENSIONAL ETF TRUST DFCF 25434V872 $152.5M 6.67% 3,800,199 SH
3 DIMENSIONAL ETF TRUST DFAU 25434V104 $104.2M 4.56% 1,990,787 SH
4 DIMENSIONAL ETF TRUST DFIC 25434V799 $85.8M 3.76% 2,282,383 SH
5 DIMENSIONAL ETF TRUST DFUS 25434V401 $76.1M 3.33% 916,566 SH
6 DIMENSIONAL ETF TRUST DFGP 25434V583 $53.0M 2.32% 1,020,921 SH
7 DIMENSIONAL ETF TRUST DFUV 25434V724 $45.4M 1.99% 824,754 SH
8 DIMENSIONAL ETF TRUST DFEM 25434V732 $42.5M 1.86% 1,070,275 SH
9 DIMENSIONAL ETF TRUST DFAS 25434V500 $41.4M 1.81% 535,310 SH
10 DIMENSIONAL ETF TRUST DFSD 25434V864 $38.0M 1.67% 818,735 SH
11 AMERICAN CENTY ETF TR AVLV 025072349 $23.1M 1.01% 255,539 SH
12 ELI LILLY & CO LLY 532457108 $22.3M 0.98% 19,259 SH
13 DIMENSIONAL ETF TRUST DFAT 25434V609 $20.3M 0.89% 305,681 SH
14 DFA INVT DIMENSIONS GROUP IN DFSV 25239Y170 $20.2M 0.88% 539,399 SH
15 DIMENSIONAL ETF TRUST DFAX 25434V880 $19.0M 0.83% 513,366 SH
16 AMERICAN CENTY ETF TR AVUV 025072877 $18.1M 0.79% 153,572 SH
17 DIMENSIONAL ETF TRUST DFGX 25434V575 $17.5M 0.77% 342,934 SH
18 DFA INVT DIMENSIONS GROUP IN DUHP 25239Y196 $12.9M 0.56% 307,002 SH
19 DIMENSIONAL ETF TRUST DFSI 25434V690 $10.3M 0.45% 228,285 SH
20 VANGUARD INDEX FDS VOO 922908363 $10.2M 0.44% 14,498 SH
21 DIMENSIONAL ETF TRUST DFSU 25434V716 $9.5M 0.42% 202,357 SH
22 DIMENSIONAL ETF TRUST DFGR 25434V658 $9.5M 0.42% 351,837 SH
23 APPLE INC AAPL 037833100 $8.7M 0.38% 26,004 SH
24 DFA INVT DIMENSIONS GROUP IN DCOR 25239Y220 $8.4M 0.37% 101,070 SH
25 VANGUARD MUN BD FDS VSDM 922907696 $8.0M 0.35% 107,463 SH
26 DIMENSIONAL ETF TRUST DFAI 25434V203 $6.7M 0.29% 160,829 SH
27 DIMENSIONAL ETF TRUST DFAE 25434V302 $6.5M 0.28% 164,121 SH
28 DIMENSIONAL ETF TRUST DFSE 25434V682 $5.8M 0.25% 119,716 SH
29 DIMENSIONAL ETF TRUST DFLV 25434V666 $4.4M 0.19% 108,451 SH
30 VANGUARD MUN BD FDS VTEB 922907746 $4.2M 0.18% 88,639 SH
31 SCHWAB STRATEGIC TR SCHX 808524201 $3.9M 0.17% 129,144 SH
32 VANGUARD MUN BD FDS VCRM 922907712 $3.9M 0.17% 53,858 SH
33 SCHWAB STRATEGIC TR SCHB 808524102 $3.0M 0.13% 102,953 SH
34 SCHWAB STRATEGIC TR SCHA 808524607 $3.0M 0.13% 92,387 SH
35 SPDR SERIES TRUST SPYG 78464A409 $3.0M 0.13% 3,933 SH
36 DIMENSIONAL ETF TRUST DFNM 25434V849 $3.0M 0.13% 64,509 SH
37 VANGUARD INDEX FDS VB 922908751 $2.8M 0.12% 9,747 SH
38 MICROSOFT CORP MSFT 594918104 $2.7M 0.12% 5,266 SH
39 NVIDIA CORPORATION NVDA 67066G104 $2.5M 0.11% 10,936 SH
40 JPMORGAN CHASE & CO JPM 46625H100 $2.4M 0.11% 7,282 SH
41 SCHWAB STRATEGIC TR SCHF 808524805 $2.4M 0.10% 87,252 SH
42 JOHNSON & JOHNSON JNJ 478160104 $2.3M 0.10% 8,588 SH
43 COSTCO WHOLESALE CORPORATION COST 22160K105 $2.0M 0.09% 2,162 SH
44 VANGUARD MALVERN FDS VTIP 922020805 $2.0M 0.09% 39,707 SH
45 FIRST TR EXCHANGE-TRADED FD QTEC 337345102 $1.9M 0.08% 5,783 SH
46 BROWN & BROWN INC BRO 115236101 $1.8M 0.08% 29,556 SH
47 AUTONATION INC AN 05329W102 $1.7M 0.08% 6,964 SH
48 ALPHABET INC GOOGL 02079K305 $1.5M 0.07% 4,406 SH
49 FIRST TR EXCHANGE-TRADED FD FXL 33734X176 $1.5M 0.07% 6,786 SH
50 VANGUARD SCOTTSDALE FDS VCSH 92206C409 $1.4M 0.06% 17,926 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-10-16 $2.28B 132 0002085853-26-001209
2026-06-30 2026-07-14 $2.31B 124 0002085853-26-000729
2026-03-31 2026-04-16 $2.06B 132 0002085853-26-000387
2025-12-31 2026-01-15 $138.3M 80 0001754960-26-000078
Filer Information
Address
8900 KEYSTONE CROSSING
SUITE 450
INDIANAPOLIS, IN 46240
Phone
(317) 731-5615
Filing Manager
Elser Financial Planning, Inc
INDIANAPOLIS, IN
Signatory
Aryn Sands
Agent