Ballast, Inc.

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 6, 2024), Ballast, Inc. reported 120 stock positions worth $316.5 million. Its top holding was Vngrd Mrngstr MD-Cap ETF-Usd (VO) at 10.3% of the portfolio, followed by Vanguard Most SM-Cap ETF-Usd (VB, 7.9%) and Invesco S&P 500 Quality ETF (SPHQ, 6.6%). Compared with Q4 2023, it opened 4 new positions, sold out of 3, added to 66 and reduced 14. The biggest buy was a new position in Humana (HUM) and the biggest sale an exit from iShares MSCI Emerging Market (EEM).

Most Recent 13F
Q2 2026
Location
Lexington, KY
CIK
0001730477
Portfolio Value
$316.5M (Q1 2024)
SEC Filing
0001172661-24-002027 ↗ filed May 6, 2024

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $316.5M $316.5M Q1 2024 Q2 2024: $324.9M Q2 2024 Q3 2024: $352.5M Q3 2024 Q4 2024: $349.8M Q4 2024 Q1 2025: $353.4M Q1 2025 Q2 2025: $381.9M Q2 2025 Q3 2025: $410.7M Q3 2025 Q4 2025: $427.3M Q4 2025 Q1 2026: $432.4M Q1 2026 Q2 2026: $530.2M Q2 2026

Holdings 120 stocks · $316.5M
VO Vngrd Mrngstr MD-Cap ETF-Usd 10.33% 130,790 $32.7M Add +0.3%
VB Vanguard Most SM-Cap ETF-Usd 7.90% 109,317 $25.0M Add +0.5%
SPHQ Invesco S&P 500 Quality ETF 6.64% 348,040 $21.0M Reduce -0.0%
SHY iShares 1-3 Year Treasury Bo 4.56% 176,280 $14.4M Add +2.6%
VEU Vanguard Ftse All-World Ex-U 4.50% 242,997 $14.3M Add +1.4%
COWZ Pacer US Cash Cows 100 ETF 4.23% 230,629 $13.4M Add +1.2%
VYM Vanguard High DVD Yield ETF 4.13% 107,994 $13.1M Add +0.8%
SPLV Invesco S&P 500 Low Volatili 3.77% 181,028 $11.9M Add +1.3%
RSP Invesco S&P 500 Equal Weight 3.54% 66,104 $11.2M Add +0.7%
PFF iShares Preferred & Income S 3.44% 338,194 $10.9M Add +3.5%
AAPL Apple Inc. 3.23% 59,573 $10.2M Add +1.1%
IWF iShares Russell 1000 Growth 2.73% 25,635 $8.6M Reduce -0.6%
VHT Vanguard Health Care ETF 2.61% 30,508 $8.3M Add +1.1%
UNH Unitedhealth Group Inc. 2.31% 14,755 $7.3M Add +17.0%
MSFT Microsoft Corp. 2.10% 15,802 $6.6M Add +0.7%
IWD iShares Russell 1000 Value E 1.90% 33,566 $6.0M Add +1.5%
GRBK Green Brick Partners Inc. 1.40% 73,494 $4.4M No change
LLY Eli Lilly & Co. 1.12% 4,575 $3.6M Reduce -1.3%
JNJ Johnson & Johnson 1.02% 20,399 $3.2M Add +1.7%
AMZN Amazon.com Inc. 0.91% 15,997 $2.9M Add +6.3%
JPM JPMorgan Chase & Co. 0.90% 14,242 $2.9M Add +3.6%
PG The Procter & Gamble Co. 0.81% 15,893 $2.6M Add +9.4%
VWO Vanguard Ftse Emerging Marke 0.81% 61,550 $2.6M Add +1.8%
BRK.B Berkshire Hathaway Inc. Class B 0.78% 5,899 $2.5M No change
VGT Vanguard Info Tech ETF 0.78% 4,688 $2.5M Reduce -1.1%
COST Costco Wholesale Corp. 0.71% 3,076 $2.3M Add +5.0%
TGT Target Corp. 0.63% 11,278 $2.0M Add +2.6%
HD Home Depot Inc. 0.58% 4,758 $1.8M Add +1.7%
WMT Walmart Inc. 0.55% 28,916 $1.7M Add +11.6%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.53% 44,197 $1.7M Add +2.5%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.51% 14,889 $1.6M Reduce -0.5%
TRV The Travelers Cos Inc. 0.51% 6,987 $1.6M Add +0.8%
AGG iShares Core U.S. Aggregate 0.50% 16,315 $1.6M Reduce -0.4%
TFC Truist Financial Corp. 0.50% 40,801 $1.6M Add +4.4%
CRM Salesforce Inc. 0.49% 5,115 $1.5M Add +0.1%
MU Micron Technology Inc. 0.48% 13,013 $1.5M Add +0.5%
AMD Advanced Micro Devices 0.48% 8,339 $1.5M Add +2.2%
DUK Duke Energy Corp. 0.47% 15,330 $1.5M Add +2.9%
PEP Pepsico Inc. 0.46% 8,242 $1.4M No change
PNC PNC Financial Services Group 0.44% 8,670 $1.4M Add +7.5%
XOM Exxon Mobil Corp. 0.44% 11,845 $1.4M Add +2.3%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.43% 11,122 $1.4M Add +5.7%
GOOGL Alphabet Inc. Class A 0.41% 8,682 $1.3M Add +1.9%
UNP Union Pacific Corp. 0.41% 5,325 $1.3M No change
ED Consolidated Edison Inc. 0.41% 14,160 $1.3M Add +5.4%
TXN Texas Instruments Inc. 0.40% 7,268 $1.3M Add +5.0%
CB Chubb Ltd. 0.38% 4,684 $1.2M Add +1.6%
RTX RTX Corp. 0.38% 12,294 $1.2M Add +4.8%
HON Honeywell International Inc. 0.38% 5,799 $1.2M Add +5.4%
DE Deere & Co. 0.37% 2,857 $1.2M Add +16.2%
DD Dupont DE Nemours Inc. 0.37% 15,289 $1.2M Add +4.5%
DHR Danaher Corp. 0.37% 4,670 $1.2M Add +5.4%
NTRS Northern Trust Corp. 0.36% 12,956 $1.2M Add +6.1%
KMB Kimberly-Clark Corp. 0.36% 8,888 $1.1M Add +16.1%
CSCO Cisco Systems Inc. 0.36% 22,916 $1.1M Add +8.9%
BA The Boeing Co. 0.34% 5,574 $1.1M Add +7.9%
CAT Caterpillar Inc. 0.33% 2,829 $1.0M Add +0.1%
NKE Nike Inc. Class B 0.33% 11,003 $1.0M Add +4.8%
IVV iShares Core S&P 500 ETF 0.32% 1,908 $1.0M Add +0.4%
INTC Intel Corp. 0.32% 22,613 $999K Add +5.2%
VLO Valero Energy Corp. 0.32% 5,846 $998K Add +2.4%
KO The Coca-Cola Co. 0.26% 13,578 $831K Add +1.6%
SHW The Sherwin-Williams Co. 0.25% 2,275 $790K Reduce -6.9%
T AT&T Inc. 0.23% 41,962 $739K Reduce -3.4%
MDT Medtronic PLC 0.23% 8,454 $737K Add +19.4%
NSC Norfolk Southern Corp. 0.23% 2,844 $725K Add +0.4%
MCD McDonald's Corp. 0.21% 2,381 $671K No change
HUM Humana Inc. 0.21% 1,921 $666K New
VZ Verizon Communications Inc. 0.21% 15,651 $657K Reduce -7.2%
GOOG Alphabet Inc. Class C 0.20% 4,123 $628K Add +1.1%
COP Conocophillips 0.19% 4,844 $617K Add +7.1%
PFE Pfizer Inc. 0.19% 21,930 $609K Add +28.9%
NVDA Nvidia Corp. 0.19% 665 $601K Add +10.7%
SYK Stryker Corp. 0.19% 1,642 $588K No change
IJH iShares Core S&P Midcap ETF 0.18% 9,570 $581K Reduce -0.8%
ABBV Abbvie Inc. 0.18% 3,110 $566K No change
VIG Vanguard Dividend Apprec ETF 0.18% 3,096 $565K No change
ORCL Oracle Corp. 0.18% 4,422 $555K No change
XPO Xpo Inc. 0.17% 4,390 $536K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.17% 1,005 $526K Add +1.5%
IJR iShares Core S&P Small-Cap E 0.15% 4,422 $489K Reduce -1.8%
VTV Vanguard Mrngstr Val ETF-Aui 0.15% 2,967 $483K Add +4.6%
MRK Merck & Co. Inc. 0.15% 3,637 $480K No change
GD General Dynamics Corp. 0.15% 1,650 $466K No change
VXF Vanguard Extended Market ETF 0.15% 2,625 $460K No change
ABT Abbott Laboratories 0.14% 3,912 $445K No change
AFL Aflac Inc. 0.12% 4,488 $385K No change
GLW Corning Inc. 0.12% 11,672 $385K No change
SCHD Schwab US DVD Equity ETF 0.12% 4,700 $379K No change
MDLZ Mondelez International Inc. Class A 0.12% 5,406 $378K Add +7.0%
USB US Bancorp 0.12% 8,334 $373K Add +32.7%
SPYV SS SPDR P S&P 500 Value ETF 0.12% 7,346 $368K Add +1.1%
SPYG SS SPDR P S&P 500 Growth ETF 0.11% 4,911 $359K Add +0.6%
NEE Nextera Energy Inc. 0.11% 5,480 $350K No change
CINF Cincinnati Financial Corp. 0.11% 2,805 $348K No change
NOC Northrop Grumman Corp. 0.11% 704 $337K No change
CTSH Cognizant Tech Solutions-A 0.11% 4,570 $335K No change
MA Mastercard Inc. Class A 0.10% 690 $332K Add +1.5%
WFC Wells Fargo & Co. 0.10% 5,690 $330K No change
EMR Emerson Electric Co. 0.10% 2,859 $324K No change
ACN Accenture PLC Class A 0.10% 930 $322K No change
VNQ Vanguard Real Estate ETF 0.10% 3,650 $316K No change
IWS iShares Russell Mid-Cap Valu 0.10% 2,487 $312K No change
FDX FedEx Corp. 0.10% 1,052 $305K No change
VTI VG Morningstar TS MKT ETF-US 0.09% 1,072 $279K New
CHD Church & Dwight Co. Inc. 0.09% 2,587 $270K No change
CVX Chevron Corp. 0.08% 1,665 $263K No change
GLD SPDR Gold Shares 0.08% 1,250 $257K No change
MRSH Marsh & McLennan Cos 0.08% 1,230 $253K No change
GXO Gxo Logistics Inc. 0.08% 4,709 $253K No change
KKR KKR & Co. Inc. 0.08% 2,500 $251K No change
META Meta Platforms Inc. Class A 0.08% 512 $249K Reduce -12.8%
STZ Constellation Brands Inc. Class A 0.07% 850 $231K Reduce -46.8%
DGX Quest Diagnostics Inc. 0.07% 1,712 $228K No change
PM Philip Morris International 0.07% 2,475 $227K Reduce -8.0%
GIS General Mills Inc. 0.07% 3,206 $224K No change
SPDW Ste STR SPDR PT DW Eu ETF 0.07% 6,232 $223K Add +1.6%
SLF Sun Life Financial Inc. 0.07% 4,083 $223K No change
VOO Vanguard S&P 500 ETF 0.06% 426 $205K New
D Dominion Energy Inc. 0.06% 4,084 $201K New

Portfolio Sells Q4 2023 → Q1 2024
EEM iShares MSCI Emerging Market Sold out 0.00% −0.09
GSK GSK PLC-Spon ADR Sold out 0.00% −0.09
TSLA Tesla Inc. Sold out 0.00% −0.08
STZ Constellation Brands Inc. Class A Reduce -46.8% 0.07% −0.06
LQD Ishr Ibx Usd Invgd CB ETF-Ui Reduce -0.5% 0.51% −0.06
AGG iShares Core U.S. Aggregate Reduce -0.4% 0.50% −0.06
T AT&T Inc. Reduce -3.4% 0.23% −0.02
PM Philip Morris International Reduce -8.0% 0.07% −0.02
VGT Vanguard Info Tech ETF Reduce -1.1% 0.78% −0.01
IJR iShares Core S&P Small-Cap E Reduce -1.8% 0.15% −0.01
SHW The Sherwin-Williams Co. Reduce -6.9% 0.25% −0.01
VZ Verizon Communications Inc. Reduce -7.2% 0.21% −0.01
IJH iShares Core S&P Midcap ETF Reduce -0.8% 0.18% −0.00
META Meta Platforms Inc. Class A Reduce -12.8% 0.08% +0.01
IWF iShares Russell 1000 Growth Reduce -0.6% 2.73% +0.03
SPHQ Invesco S&P 500 Quality ETF Reduce -0.0% 6.64% +0.15
LLY Eli Lilly & Co. Reduce -1.3% 1.12% +0.19

Portfolio Buys Q4 2023 → Q1 2024
HUM Humana Inc. New 0.21% +0.21
COWZ Pacer US Cash Cows 100 ETF Add +1.2% 4.23% +0.15
AMZN Amazon.com Inc. Add +6.3% 0.91% +0.12
MU Micron Technology Inc. Add +0.5% 0.48% +0.10
DIS The Walt Disney Co. Add +5.7% 0.43% +0.10
JPM JPMorgan Chase & Co. Add +3.6% 0.90% +0.10
TGT Target Corp. Add +2.6% 0.63% +0.09
VTI VG Morningstar TS MKT ETF-US New 0.09% +0.09
NVDA Nvidia Corp. Add +10.7% 0.19% +0.09
PG The Procter & Gamble Co. Add +9.4% 0.81% +0.08
WMT Walmart Inc. Add +11.6% 0.55% +0.08
MSFT Microsoft Corp. Add +0.7% 2.10% +0.07
VOO Vanguard S&P 500 ETF New 0.06% +0.06
D Dominion Energy Inc. New 0.06% +0.06
AMD Advanced Micro Devices Add +2.2% 0.48% +0.06
VLO Valero Energy Corp. Add +2.4% 0.32% +0.06
TRV The Travelers Cos Inc. Add +0.8% 0.51% +0.05
COST Costco Wholesale Corp. Add +5.0% 0.71% +0.05
KMB Kimberly-Clark Corp. Add +16.1% 0.36% +0.04
CAT Caterpillar Inc. Add +0.1% 0.33% +0.04
RTX RTX Corp. Add +4.8% 0.38% +0.04
XOM Exxon Mobil Corp. Add +2.3% 0.44% +0.04
DE Deere & Co. Add +16.2% 0.37% +0.03
MDT Medtronic PLC Add +19.4% 0.23% +0.03
BAC Bank of America Corp. Add +2.5% 0.53% +0.03
CB Chubb Ltd. Add +1.6% 0.38% +0.02
USB US Bancorp Add +32.7% 0.12% +0.02
PFE Pfizer Inc. Add +28.9% 0.19% +0.02
CRM Salesforce Inc. Add +0.1% 0.49% +0.02
HD Home Depot Inc. Add +1.7% 0.58% +0.02
UNH Unitedhealth Group Inc. Add +17.0% 2.31% +0.02
DHR Danaher Corp. Add +5.4% 0.37% +0.01
IWD iShares Russell 1000 Value E Add +1.5% 1.90% +0.01
COP Conocophillips Add +7.1% 0.19% +0.01
PNC PNC Financial Services Group Add +7.5% 0.44% +0.01
NTRS Northern Trust Corp. Add +6.1% 0.36% +0.01
VTV Vanguard Mrngstr Val ETF-Aui Add +4.6% 0.15% +0.01
MA Mastercard Inc. Class A Add +1.5% 0.10% +0.01
TFC Truist Financial Corp. Add +4.4% 0.50% +0.00
VYM Vanguard High DVD Yield ETF Add +0.8% 4.13% +0.00
IVV iShares Core S&P 500 ETF Add +0.4% 0.32% +0.00
SPYG SS SPDR P S&P 500 Growth ETF Add +0.6% 0.11% +0.00
SPY SS SPDR S&P 500 ETF Trust-US Add +1.5% 0.17% +0.00
GOOGL Alphabet Inc. Class A Add +1.9% 0.41% +0.00
GOOG Alphabet Inc. Class C Add +1.1% 0.20% +0.00
VHT Vanguard Health Care ETF Add +1.1% 2.61% −0.00
SPYV SS SPDR P S&P 500 Value ETF Add +1.1% 0.12% −0.00
SPDW Ste STR SPDR PT DW Eu ETF Add +1.6% 0.07% −0.00
NSC Norfolk Southern Corp. Add +0.4% 0.23% −0.00
CSCO Cisco Systems Inc. Add +8.9% 0.36% −0.01

Options Activity Q4 2023 → Q1 2024
AAPL Apple Inc. put Sold out 500 $96Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 156$530.2MVB, VO, SPHQ, VYM, RSP
Q1 2026 133$432.4MVB, VO, SPHQ, VYM, RSP
Q4 2025 133$427.3MVB, VO, SPHQ, VYM, RSP
Q3 2025 132$410.7MVB, VO, SPHQ, COWZ, VEU
Q2 2025Amended 128$381.9MVB, VO, SPHQ, COWZ, VEU
Q1 2025 125$353.4MVO, VB, SPHQ, COWZ, VEU
Q4 2024 119$349.8MVB, VO, SPHQ, COWZ, VEU
Q3 2024 125$352.5MVO, VB, SPHQ, VEU, VYM
Q2 2024 120$324.9MVO, VB, SPHQ, VEU, VYM
Q1 2024 120$316.5MVO, VB, SPHQ, SHY, VEU