Ballast, Inc.

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 12, 2025), Ballast, Inc. reported 125 stock positions worth $353.4 million. Its top holding was Vngrd Mrngstr MD-Cap ETF-Usd (VO) at 9.6% of the portfolio, followed by Vanguard Most SM-Cap ETF-Usd (VB, 9.6%) and Invesco S&P 500 Quality ETF (SPHQ, 6.6%). Compared with Q4 2024, it opened 10 new positions, sold out of 4, added to 67 and reduced 18. The biggest buy was Berkshire Hathaway Class B (BRK.B, shares +30%) and the biggest sale Apple (AAPL, shares −3%).

Most Recent 13F
Q2 2026
Location
Lexington, KY
CIK
0001730477
Portfolio Value
$353.4M (Q1 2025)
SEC Filing
0001172661-25-001701 ↗ filed May 12, 2025

Holdings Value

0$200.0M$400.0M$600.0M Q1 2024: $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 $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 125 stocks · $353.4M
VO Vngrd Mrngstr MD-Cap ETF-Usd 9.63% 131,625 $34.0M Add +1.3%
VB Vanguard Most SM-Cap ETF-Usd 9.61% 153,246 $34.0M Add +3.1%
SPHQ Invesco S&P 500 Quality ETF 6.64% 353,991 $23.5M Add +0.2%
COWZ Pacer US Cash Cows 100 ETF 4.56% 294,251 $16.1M Add +3.5%
VEU Vanguard Ftse All-World Ex-U 4.44% 258,698 $15.7M Add +0.6%
VYM Vanguard High DVD Yield ETF 4.17% 114,423 $14.8M Add +0.8%
SPLV Invesco S&P 500 Low Volatili 4.15% 196,390 $14.7M Add +0.8%
RSP Invesco S&P 500 Equal Weight 4.09% 83,474 $14.5M Add +3.2%
SHY iShares 1-3 Year Treasury Bo 3.61% 154,198 $12.8M Add +2.1%
AAPL Apple Inc. 3.37% 53,631 $11.9M Reduce -2.7%
IWF iShares Russell 1000 Growth 2.58% 25,274 $9.1M Reduce -1.3%
VHT Vanguard Health Care ETF 2.48% 33,121 $8.8M Add +1.7%
PFF iShares Preferred & Income S 2.27% 261,049 $8.0M Add +0.6%
UNH Unitedhealth Group Inc. 2.14% 14,462 $7.6M Add +1.4%
IWD iShares Russell 1000 Value E 1.92% 36,078 $6.8M Add +0.8%
MSFT Microsoft Corp. 1.74% 16,373 $6.1M Add +3.6%
GRBK Green Brick Partners Inc. 1.21% 73,494 $4.3M No change
BRK.B Berkshire Hathaway Inc. Class B 1.19% 7,892 $4.2M Add +30.4%
JNJ Johnson & Johnson 1.09% 23,207 $3.8M Add +3.0%
LLY Eli Lilly & Co. 1.01% 4,306 $3.6M Add +1.4%
JPM JPMorgan Chase & Co. 0.99% 14,290 $3.5M Add +2.1%
AMZN Amazon.com Inc. 0.92% 17,173 $3.3M Add +13.0%
VWO Vanguard Ftse Emerging Marke 0.82% 64,096 $2.9M Add +0.6%
VGT Vanguard Info Tech ETF 0.81% 5,279 $2.9M Reduce -1.2%
COST Costco Wholesale Corp. 0.80% 3,005 $2.8M Add +1.8%
PG The Procter & Gamble Co. 0.77% 16,068 $2.7M Add +1.4%
WMT Walmart Inc. 0.64% 25,624 $2.2M Add +2.1%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.57% 18,474 $2.0M Add +9.0%
DUK Duke Energy Corp. 0.54% 15,782 $1.9M Reduce -0.4%
HD Home Depot Inc. 0.54% 5,207 $1.9M Add +1.9%
AGG iShares Core U.S. Aggregate 0.51% 18,238 $1.8M Add +1.8%
TRV The Travelers Cos Inc. 0.51% 6,807 $1.8M Reduce -0.2%
ED Consolidated Edison Inc. 0.50% 16,076 $1.8M Add +0.1%
RTX RTX Corp. 0.48% 12,851 $1.7M Add +2.4%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.48% 40,784 $1.7M Add +0.1%
DE Deere & Co. 0.47% 3,560 $1.7M Reduce -0.6%
CSCO Cisco Systems Inc. 0.47% 26,805 $1.7M Reduce -2.2%
XOM Exxon Mobil Corp. 0.47% 13,870 $1.6M Add +0.8%
TFC Truist Financial Corp. 0.46% 39,348 $1.6M Add +0.7%
V Visa Inc. Class A 0.42% 4,216 $1.5M Add +4.1%
CRM Salesforce Inc. 0.41% 5,408 $1.5M Add +5.4%
HON Honeywell International Inc. 0.41% 6,828 $1.4M Add +6.2%
GOOGL Alphabet Inc. Class A 0.41% 9,339 $1.4M Add +8.8%
CB Chubb Ltd. 0.40% 4,731 $1.4M Reduce -0.1%
TGT Target Corp. 0.40% 13,412 $1.4M Add +3.6%
TXN Texas Instruments Inc. 0.39% 7,694 $1.4M Add +2.1%
KMB Kimberly-Clark Corp. 0.39% 9,661 $1.4M Add +0.9%
MDLZ Mondelez International Inc. Class A 0.38% 20,008 $1.4M Add +3.9%
BA The Boeing Co. 0.38% 7,892 $1.3M Reduce -1.3%
NKE Nike Inc. Class B 0.38% 21,028 $1.3M Add +21.9%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.38% 13,495 $1.3M Add +2.2%
DD Dupont DE Nemours Inc. 0.38% 17,754 $1.3M Add +0.9%
TMUS T-Mobile US Inc. 0.38% 4,969 $1.3M Add +3.6%
PEP Pepsico Inc. 0.37% 8,642 $1.3M Add +4.8%
NTRS Northern Trust Corp. 0.36% 12,849 $1.3M Add +0.1%
UNP Union Pacific Corp. 0.36% 5,325 $1.3M No change
GOOG Alphabet Inc. Class C 0.32% 7,330 $1.1M Add +54.8%
MU Micron Technology Inc. 0.31% 12,629 $1.1M Add +1.5%
DHR Danaher Corp. 0.31% 5,343 $1.1M Add +1.8%
MDT Medtronic PLC 0.31% 12,131 $1.1M Add +0.5%
IVV iShares Core S&P 500 ETF 0.30% 1,900 $1.1M Reduce -0.4%
INTC Intel Corp. 0.29% 45,107 $1.0M Add +5.3%
NVDA Nvidia Corp. 0.28% 9,008 $976K Add +17.5%
AMD Advanced Micro Devices 0.27% 9,389 $965K Add +8.3%
KO The Coca-Cola Co. 0.27% 13,175 $944K Add +0.4%
CAT Caterpillar Inc. 0.26% 2,826 $932K Reduce -0.1%
VLO Valero Energy Corp. 0.24% 6,308 $833K Add +1.1%
PFE Pfizer Inc. 0.23% 31,933 $809K Reduce -0.7%
MCD McDonald's Corp. 0.21% 2,381 $744K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.19% 1,226 $686K Add +1.0%
NSC Norfolk Southern Corp. 0.19% 2,833 $671K Reduce -0.4%
HAL Halliburton Co. 0.19% 25,940 $658K Add +3.6%
ABBV Abbvie Inc. 0.19% 3,132 $656K Add +0.7%
ORCL Oracle Corp. 0.18% 4,672 $653K Add +5.7%
SYK Stryker Corp. 0.17% 1,642 $611K No change
VIG Vanguard Dividend Apprec ETF 0.17% 3,119 $605K No change
IJH iShares Core S&P Midcap ETF 0.17% 10,123 $591K No change
GLW Corning Inc. 0.15% 11,672 $534K No change
MA Mastercard Inc. Class A 0.14% 897 $492K Add +34.3%
VTV Vanguard Mrngstr Val ETF-Aui 0.14% 2,811 $486K No change
GS Goldman Sachs Group Inc. 0.14% 875 $478K New
AFL Aflac Inc. 0.13% 4,275 $475K No change
VXF Vanguard Extended Market ETF 0.13% 2,625 $452K No change
GD General Dynamics Corp. 0.13% 1,650 $450K No change
XPO Xpo Inc. 0.13% 4,173 $449K No change
MKL Markel Group Inc. 0.13% 240 $449K New
BX Blackstone Inc. 0.12% 3,158 $441K New
SPYV SS SPDR P S&P 500 Value ETF 0.12% 8,256 $422K Add +3.2%
IJR iShares Core S&P Small-Cap E 0.12% 3,977 $416K Reduce -7.0%
WFC Wells Fargo & Co. 0.12% 5,690 $408K No change
SCHD Schwab US DVD Equity ETF 0.11% 14,415 $403K No change
NEE Nextera Energy Inc. 0.11% 5,533 $392K Add +4.0%
CINF Cincinnati Financial Corp. 0.11% 2,655 $392K No change
SPYG SS SPDR P S&P 500 Growth ETF 0.11% 4,773 $384K Reduce -1.8%
VNQ Vanguard Real Estate ETF 0.11% 4,185 $379K Add +14.7%
META Meta Platforms Inc. Class A 0.11% 655 $378K Add +23.1%
GLD SPDR Gold Shares 0.11% 1,295 $373K No change
NOC Northrop Grumman Corp. 0.10% 704 $360K No change
ABT Abbott Laboratories 0.10% 2,693 $357K Add +3.3%
CTSH Cognizant Tech Solutions-A 0.10% 4,570 $350K No change

Show all 125 holdings

Portfolio Sells Q4 2024 → Q1 2025
AAPL Apple Inc. Reduce -2.7% 3.37% −0.57
IWF iShares Russell 1000 Growth Reduce -1.3% 2.58% −0.36
SHW The Sherwin-Williams Co. Sold out 0.00% −0.19
VGT Vanguard Info Tech ETF Reduce -1.2% 0.81% −0.14
HUM Humana Inc. Sold out 0.00% −0.11
MGK Vngrd Mrgstr MG CP GR ETF-Ui Sold out 0.00% −0.06
GIS General Mills Inc. Sold out 0.00% −0.06
TSLA Tesla Inc. Reduce -11.8% 0.07% −0.05
USB US Bancorp Reduce -24.6% 0.07% −0.04
CAT Caterpillar Inc. Reduce -0.1% 0.26% −0.03
BA The Boeing Co. Reduce -1.3% 0.38% −0.02
IJR iShares Core S&P Small-Cap E Reduce -7.0% 0.12% −0.02
IVV iShares Core S&P 500 ETF Reduce -0.4% 0.30% −0.02
PFE Pfizer Inc. Reduce -0.7% 0.23% −0.01
SPYG SS SPDR P S&P 500 Growth ETF Reduce -1.8% 0.11% −0.01
NSC Norfolk Southern Corp. Reduce -0.4% 0.19% −0.00
COP Conocophillips Reduce -1.0% 0.09% +0.00
CSCO Cisco Systems Inc. Reduce -2.2% 0.47% +0.00
CB Chubb Ltd. Reduce -0.1% 0.40% +0.03
DE Deere & Co. Reduce -0.6% 0.47% +0.04
TRV The Travelers Cos Inc. Reduce -0.2% 0.51% +0.04
DUK Duke Energy Corp. Reduce -0.4% 0.54% +0.06

Portfolio Buys Q4 2024 → Q1 2025
BRK.B Berkshire Hathaway Inc. Class B Add +30.4% 1.19% +0.41
SPLV Invesco S&P 500 Low Volatili Add +0.8% 4.15% +0.26
VEU Vanguard Ftse All-World Ex-U Add +0.6% 4.44% +0.22
JNJ Johnson & Johnson Add +3.0% 1.09% +0.16
GS Goldman Sachs Group Inc. New 0.14% +0.14
MKL Markel Group Inc. New 0.13% +0.13
BX Blackstone Inc. New 0.12% +0.12
VHT Vanguard Health Care ETF Add +1.7% 2.48% +0.12
AXP American Express Co. New 0.10% +0.10
ED Consolidated Edison Inc. Add +0.1% 0.50% +0.09
UNH Unitedhealth Group Inc. Add +1.4% 2.14% +0.08
MCO Moody's Corp. New 0.08% +0.08
HOMB Home Bancshares Inc. New 0.08% +0.08
TMUS T-Mobile US Inc. Add +3.6% 0.38% +0.07
SHY iShares 1-3 Year Treasury Bo Add +2.1% 3.61% +0.07
LLY Eli Lilly & Co. Add +1.4% 1.01% +0.07
T AT&T Inc. New 0.07% +0.07
RTX RTX Corp. Add +2.4% 0.48% +0.07
GOOG Alphabet Inc. Class C Add +54.8% 0.32% +0.07
PM Philip Morris International New 0.07% +0.07
ALL Allstate Corp. New 0.06% +0.06
CTAS Cintas Corp. New 0.06% +0.06
MDLZ Mondelez International Inc. Class A Add +3.9% 0.38% +0.06
V Visa Inc. Class A Add +4.1% 0.42% +0.05
LQD Ishr Ibx Usd Invgd CB ETF-Ui Add +9.0% 0.57% +0.05
INTC Intel Corp. Add +5.3% 0.29% +0.04
XOM Exxon Mobil Corp. Add +0.8% 0.47% +0.04
RSP Invesco S&P 500 Equal Weight Add +3.2% 4.09% +0.04
MA Mastercard Inc. Class A Add +34.3% 0.14% +0.04
VYM Vanguard High DVD Yield ETF Add +0.8% 4.17% +0.03
KO The Coca-Cola Co. Add +0.4% 0.27% +0.03
JPM JPMorgan Chase & Co. Add +2.1% 0.99% +0.03
MDT Medtronic PLC Add +0.5% 0.31% +0.03
COST Costco Wholesale Corp. Add +1.8% 0.80% +0.03
KMB Kimberly-Clark Corp. Add +0.9% 0.39% +0.03
ABBV Abbvie Inc. Add +0.7% 0.19% +0.03
IWD iShares Russell 1000 Value E Add +0.8% 1.92% +0.03
CVX Chevron Corp. Add +11.7% 0.09% +0.02
VWO Vanguard Ftse Emerging Marke Add +0.6% 0.82% +0.02
META Meta Platforms Inc. Class A Add +23.1% 0.11% +0.02
VLO Valero Energy Corp. Add +1.1% 0.24% +0.02
ABT Abbott Laboratories Add +3.3% 0.10% +0.02
PG The Procter & Gamble Co. Add +1.4% 0.77% +0.01
AGG iShares Core U.S. Aggregate Add +1.8% 0.51% +0.01
VNQ Vanguard Real Estate ETF Add +14.7% 0.11% +0.01
MU Micron Technology Inc. Add +1.5% 0.31% +0.01
PEP Pepsico Inc. Add +4.8% 0.37% +0.01
SPDW Ste STR SPDR PT DW Eu ETF Add +2.5% 0.07% +0.01
NKE Nike Inc. Class B Add +21.9% 0.38% +0.00
SPYV SS SPDR P S&P 500 Value ETF Add +3.2% 0.12% +0.00

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