Ballast, Inc.

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed November 7, 2025), Ballast, Inc. reported 128 stock positions worth $381.9 million. Its top holding was Vanguard Most SM-Cap ETF-Usd (VB) at 10.2% of the portfolio, followed by Vngrd Mrngstr MD-Cap ETF-Usd (VO, 9.8%) and Invesco S&P 500 Quality ETF (SPHQ, 6.5%). Compared with Q1 2025, it opened 6 new positions, sold out of 3, added to 45 and reduced 40. The biggest buy was iShares Preferred & Income S (PFF, shares +45%) and the biggest sale Apple (AAPL, shares −0%).

Most Recent 13F
Q3 2026
Location
LEXINGTON, KY
CIK
0001730477
Portfolio Value
$381.9M (Q2 2025)
SEC Filing
0001172661-25-004627 ↗ filed Nov 7, 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 Q1 2025 Q2 2025: $381.9M $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 Q3 2026: $535.9M Q3 2026

Holdings 128 stocks · $381.9M
VB Vanguard Most SM-Cap ETF-Usd 10.15% 163,617 $38.8M Add +6.8%
VO Vngrd Mrngstr MD-Cap ETF-Usd 9.82% 134,045 $37.5M Add +1.8%
SPHQ Invesco S&P 500 Quality ETF 6.52% 349,424 $24.9M Reduce -1.3%
COWZ Pacer US Cash Cows 100 ETF 4.62% 320,078 $17.6M Add +8.8%
VEU Vanguard Ftse All-World Ex-U 4.34% 246,864 $16.6M Reduce -4.6%
SHY iShares 1-3 Year Treasury Bo 4.22% 194,438 $16.1M Add +26.1%
RSP Invesco S&P 500 Equal Weight 4.22% 88,603 $16.1M Add +6.1%
VYM Vanguard High DVD Yield ETF 4.06% 116,399 $15.5M Add +1.7%
SPLV Invesco S&P 500 Low Volatili 3.78% 198,447 $14.5M Add +1.1%
PFF iShares Preferred & Income S 3.04% 378,855 $11.6M Add +45.1%
AAPL Apple Inc. 2.88% 53,628 $11.0M Reduce -0.0%
IWF iShares Russell 1000 Growth 2.70% 24,318 $10.3M Reduce -3.8%
VHT Vanguard Health Care ETF 2.44% 37,503 $9.3M Add +13.2%
MSFT Microsoft Corp. 2.13% 16,340 $8.1M Reduce -0.2%
IWD iShares Russell 1000 Value E 1.93% 37,974 $7.4M Add +5.3%
UNH Unitedhealth Group Inc. 1.28% 15,614 $4.9M Add +8.0%
BRK.B Berkshire Hathaway Inc. Class B 1.26% 9,942 $4.8M Add +26.0%
GRBK Green Brick Partners Inc. 1.21% 73,494 $4.6M No change
JPM JPMorgan Chase & Co. 1.06% 13,994 $4.1M Reduce -2.1%
AMZN Amazon.com Inc. 0.99% 17,208 $3.8M Add +0.2%
JNJ Johnson & Johnson 0.94% 23,531 $3.6M Add +1.4%
VGT Vanguard Info Tech ETF 0.90% 5,186 $3.4M Reduce -1.8%
LLY Eli Lilly & Co. 0.88% 4,330 $3.4M Add +0.6%
COST Costco Wholesale Corp. 0.75% 2,894 $2.9M Reduce -3.7%
GOOG Alphabet Inc. Class C 0.66% 14,258 $2.5M Add +94.5%
PG The Procter & Gamble Co. 0.66% 15,870 $2.5M Reduce -1.2%
WMT Walmart Inc. 0.63% 24,773 $2.4M Reduce -3.3%
VWO Vanguard Ftse Emerging Marke 0.61% 47,453 $2.3M Reduce -26.0%
XOM Exxon Mobil Corp. 0.54% 18,997 $2.0M Add +37.0%
HD Home Depot Inc. 0.52% 5,376 $2.0M Add +3.3%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 0.50% 17,562 $1.9M Reduce -4.9%
DUK Duke Energy Corp. 0.49% 15,849 $1.9M Add +0.4%
CSCO Cisco Systems Inc. 0.47% 26,081 $1.8M Reduce -2.7%
AGG iShares Core U.S. Aggregate 0.47% 18,209 $1.8M Reduce -0.2%
RTX RTX Corp. 0.47% 12,228 $1.8M Reduce -4.8%
TRV The Travelers Cos Inc. 0.46% 6,634 $1.8M Reduce -2.5%
TFC Truist Financial Corp. 0.46% 41,058 $1.8M Add +4.3%
DE Deere & Co. 0.45% 3,403 $1.7M Reduce -4.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.45% 13,941 $1.7M Add +3.3%
NKE Nike Inc. Class B 0.44% 23,791 $1.7M Add +13.1%
GOOGL Alphabet Inc. Class A 0.44% 9,456 $1.7M Add +1.3%
NTRS Northern Trust Corp. 0.43% 13,039 $1.7M Add +1.5%
TXN Texas Instruments Inc. 0.43% 7,927 $1.6M Add +3.0%
ED Consolidated Edison Inc. 0.43% 16,269 $1.6M Add +1.2%
HON Honeywell International Inc. 0.42% 6,965 $1.6M Add +2.0%
TGT Target Corp. 0.42% 16,368 $1.6M Add +22.0%
MU Micron Technology Inc. 0.42% 13,061 $1.6M Add +3.4%
CRM Salesforce Inc. 0.41% 5,738 $1.6M Add +6.1%
BA The Boeing Co. 0.40% 7,222 $1.5M Reduce -8.5%
V Visa Inc. Class A 0.39% 4,233 $1.5M Add +0.4%
NVDA Nvidia Corp. 0.37% 9,008 $1.4M No change
AMD Advanced Micro Devices 0.36% 9,725 $1.4M Add +3.6%
CB Chubb Ltd. 0.36% 4,734 $1.4M Add +0.1%
DD Dupont DE Nemours Inc. 0.35% 19,600 $1.3M Add +10.4%
MDLZ Mondelez International Inc. Class A 0.34% 19,057 $1.3M Reduce -4.8%
KMB Kimberly-Clark Corp. 0.33% 9,866 $1.3M Add +2.1%
TMUS T-Mobile US Inc. 0.33% 5,285 $1.3M Add +6.4%
UNP Union Pacific Corp. 0.32% 5,319 $1.2M Reduce -0.1%
IVV iShares Core S&P 500 ETF 0.31% 1,916 $1.2M Add +0.8%
MDT Medtronic PLC 0.30% 13,196 $1.2M Add +8.8%
PEP Pepsico Inc. 0.30% 8,642 $1.1M No change
CAT Caterpillar Inc. 0.29% 2,825 $1.1M Reduce -0.0%
ORCL Oracle Corp. 0.27% 4,672 $1.0M No change
PFE Pfizer Inc. 0.26% 41,205 $999K Add +29.0%
HAL Halliburton Co. 0.26% 48,466 $988K Add +86.8%
KO The Coca-Cola Co. 0.24% 13,175 $932K No change
VLO Valero Energy Corp. 0.23% 6,536 $879K Add +3.6%
SPY SS SPDR S&P 500 ETF Trust-US 0.20% 1,237 $764K Add +0.9%
MCD McDonald's Corp. 0.17% 2,244 $656K Reduce -5.8%
SYK Stryker Corp. 0.17% 1,642 $650K No change
VIG Vanguard Dividend Apprec ETF 0.17% 3,091 $633K Reduce -0.9%
NSC Norfolk Southern Corp. 0.16% 2,408 $616K Reduce -15.0%
GLW Corning Inc. 0.16% 11,672 $614K No change
IJH iShares Core S&P Midcap ETF 0.16% 9,848 $611K Reduce -2.7%
GS Goldman Sachs Group Inc. 0.15% 836 $592K Reduce -4.5%
ABBV Abbvie Inc. 0.15% 3,132 $581K No change
XPO Xpo Inc. 0.14% 4,173 $527K No change
VXF Vanguard Extended Market ETF 0.13% 2,625 $506K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.13% 2,811 $497K No change
MA Mastercard Inc. Class A 0.13% 882 $496K Reduce -1.7%
GD General Dynamics Corp. 0.13% 1,650 $481K No change
META Meta Platforms Inc. Class A 0.12% 635 $469K Reduce -3.0%
MKL Markel Group Inc. 0.12% 228 $455K Reduce -5.0%
BX Blackstone Inc. 0.12% 3,016 $451K Reduce -4.5%
AFL Aflac Inc. 0.12% 4,275 $451K No change
IJR iShares Core S&P Small-Cap E 0.11% 3,977 $435K No change
SPYG SS SPDR P S&P 500 Growth ETF 0.11% 4,554 $434K Reduce -4.6%
SPYV SS SPDR P S&P 500 Value ETF 0.11% 8,144 $426K Reduce -1.4%
AXP American Express Co. 0.11% 1,288 $411K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.11% 8,562 $405K Reduce -79.0%
CINF Cincinnati Financial Corp. 0.10% 2,655 $395K No change
GLD SPDR Gold Shares 0.10% 1,295 $395K No change
NEE Nextera Energy Inc. 0.10% 5,533 $384K No change
SCHD Schwab US DVD Equity ETF 0.10% 14,415 $382K No change
EMR Emerson Electric Co. 0.10% 2,857 $381K Reduce -0.1%
KKR KKR & Co. Inc. 0.10% 2,822 $375K Reduce -2.9%
VNQ Vanguard Real Estate ETF 0.10% 4,185 $373K No change
ABT Abbott Laboratories 0.10% 2,693 $366K No change
CTSH Cognizant Tech Solutions-A 0.09% 4,570 $357K No change
NOC Northrop Grumman Corp. 0.09% 701 $350K Reduce -0.4%
WFC Wells Fargo & Co. 0.09% 4,295 $344K Reduce -24.5%
IWS iShares Russell Mid-Cap Valu 0.09% 2,487 $329K No change
VTI VG Morningstar TS MKT ETF-US 0.09% 1,080 $328K No change
AVGO Broadcom Inc. 0.09% 1,182 $326K New
COP Conocophillips 0.08% 3,464 $311K Add +16.5%
PLTR Palantir Technologies Inc. Class A 0.08% 2,264 $309K New
DGX Quest Diagnostics Inc. 0.08% 1,712 $308K No change
MCO Moody's Corp. 0.08% 575 $288K Reduce -6.5%
TSLA Tesla Inc. 0.08% 907 $288K Add +1.3%
USB US Bancorp 0.07% 6,282 $284K No change
SPDW Ste STR SPDR PT DW Eu ETF 0.07% 6,883 $279K Reduce -5.3%
ACN Accenture PLC Class A 0.07% 930 $278K No change
MRK Merck & Co. Inc. 0.07% 3,448 $273K No change
SLF Sun Life Financial Inc. 0.07% 4,083 $271K No change
MRSH Marsh & McLennan Cos 0.07% 1,230 $269K No change
CVX Chevron Corp. 0.07% 1,860 $266K No change
HOMB Home Bancshares Inc. 0.07% 9,083 $259K Reduce -5.5%
CHD Church & Dwight Co. Inc. 0.07% 2,587 $249K No change
VOO Vanguard S&P 500 ETF 0.06% 434 $247K No change
T AT&T Inc. 0.06% 8,391 $243K Add +0.3%
FDX FedEx Corp. 0.06% 1,052 $239K No change
MGK Vngrd Mrgstr MG CP GR ETF-Ui 0.06% 634 $232K New
CTAS Cintas Corp. 0.06% 1,000 $223K No change
D Dominion Energy Inc. 0.06% 3,938 $223K No change
BN Brookfield Corp. 0.06% 3,550 $220K New
GE General Electric filed as GE AEROSPACE 0.06% 827 $213K New
ECL Ecolab Inc. 0.05% 750 $202K New
ALL Allstate Corp. 0.05% 1,000 $201K No change

Portfolio Sells Q1 2025 → Q2 2025
AAPL Apple Inc. Reduce -0.0% 2.88% −0.49
BAC Bank of America Corp. Reduce -79.0% 0.11% −0.38
DHR Danaher Corp. Sold out 0.00% −0.31
INTC Intel Corp. Sold out 0.00% −0.29
VWO Vanguard Ftse Emerging Marke Reduce -26.0% 0.61% −0.21
SPHQ Invesco S&P 500 Quality ETF Reduce -1.3% 6.52% −0.12
PG The Procter & Gamble Co. Reduce -1.2% 0.66% −0.11
VEU Vanguard Ftse All-World Ex-U Reduce -4.6% 4.34% −0.10
PM Philip Morris International Sold out 0.00% −0.07
LQD Ishr Ibx Usd Invgd CB ETF-Ui Reduce -4.9% 0.50% −0.06
COST Costco Wholesale Corp. Reduce -3.7% 0.75% −0.05
MDLZ Mondelez International Inc. Class A Reduce -4.8% 0.34% −0.05
TRV The Travelers Cos Inc. Reduce -2.5% 0.46% −0.04
MCD McDonald's Corp. Reduce -5.8% 0.17% −0.04
AGG iShares Core U.S. Aggregate Reduce -0.2% 0.47% −0.04
UNP Union Pacific Corp. Reduce -0.1% 0.32% −0.04
NSC Norfolk Southern Corp. Reduce -15.0% 0.16% −0.03
WFC Wells Fargo & Co. Reduce -24.5% 0.09% −0.03
DE Deere & Co. Reduce -4.4% 0.45% −0.02
RTX RTX Corp. Reduce -4.8% 0.47% −0.01
NOC Northrop Grumman Corp. Reduce -0.4% 0.09% −0.01
MA Mastercard Inc. Class A Reduce -1.7% 0.13% −0.01
HOMB Home Bancshares Inc. Reduce -5.5% 0.07% −0.01
MKL Markel Group Inc. Reduce -5.0% 0.12% −0.01
SPYV SS SPDR P S&P 500 Value ETF Reduce -1.4% 0.11% −0.01
IJH iShares Core S&P Midcap ETF Reduce -2.7% 0.16% −0.01
BX Blackstone Inc. Reduce -4.5% 0.12% −0.01
MCO Moody's Corp. Reduce -6.5% 0.08% −0.01
VIG Vanguard Dividend Apprec ETF Reduce -0.9% 0.17% −0.01
WMT Walmart Inc. Reduce -3.3% 0.63% −0.00
SPDW Ste STR SPDR PT DW Eu ETF Reduce -5.3% 0.07% −0.00
KKR KKR & Co. Inc. Reduce -2.9% 0.10% +0.00
SPYG SS SPDR P S&P 500 Growth ETF Reduce -4.6% 0.11% +0.01
CSCO Cisco Systems Inc. Reduce -2.7% 0.47% +0.01
EMR Emerson Electric Co. Reduce -0.1% 0.10% +0.01
BA The Boeing Co. Reduce -8.5% 0.40% +0.02
META Meta Platforms Inc. Class A Reduce -3.0% 0.12% +0.02
GS Goldman Sachs Group Inc. Reduce -4.5% 0.15% +0.02
CAT Caterpillar Inc. Reduce -0.0% 0.29% +0.02
JPM JPMorgan Chase & Co. Reduce -2.1% 1.06% +0.07
VGT Vanguard Info Tech ETF Reduce -1.8% 0.90% +0.09
IWF iShares Russell 1000 Growth Reduce -3.8% 2.70% +0.12
MSFT Microsoft Corp. Reduce -0.2% 2.13% +0.39

Portfolio Buys Q1 2025 → Q2 2025
PFF iShares Preferred & Income S Add +45.1% 3.04% +0.77
SHY iShares 1-3 Year Treasury Bo Add +26.1% 4.22% +0.61
VB Vanguard Most SM-Cap ETF-Usd Add +6.8% 10.15% +0.54
GOOG Alphabet Inc. Class C Add +94.5% 0.66% +0.34
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +1.8% 9.82% +0.19
RSP Invesco S&P 500 Equal Weight Add +6.1% 4.22% +0.12
MU Micron Technology Inc. Add +3.4% 0.42% +0.11
AMD Advanced Micro Devices Add +3.6% 0.36% +0.09
AVGO Broadcom Inc. New 0.09% +0.09
PLTR Palantir Technologies Inc. Class A New 0.08% +0.08
DIS The Walt Disney Co. Add +3.3% 0.45% +0.08
BRK.B Berkshire Hathaway Inc. Class B Add +26.0% 1.26% +0.08
NTRS Northern Trust Corp. Add +1.5% 0.43% +0.07
HAL Halliburton Co. Add +86.8% 0.26% +0.07
XOM Exxon Mobil Corp. Add +37.0% 0.54% +0.07
NKE Nike Inc. Class B Add +13.1% 0.44% +0.06
AMZN Amazon.com Inc. Add +0.2% 0.99% +0.06
MGK Vngrd Mrgstr MG CP GR ETF-Ui New 0.06% +0.06
COWZ Pacer US Cash Cows 100 ETF Add +8.8% 4.62% +0.06
BN Brookfield Corp. New 0.06% +0.06
GE General Electric New 0.06% +0.06
ECL Ecolab Inc. New 0.05% +0.05
TXN Texas Instruments Inc. Add +3.0% 0.43% +0.04
PFE Pfizer Inc. Add +29.0% 0.26% +0.03
GOOGL Alphabet Inc. Class A Add +1.3% 0.44% +0.03
TGT Target Corp. Add +22.0% 0.42% +0.03
HON Honeywell International Inc. Add +2.0% 0.42% +0.02
IWD iShares Russell 1000 Value E Add +5.3% 1.93% +0.01
TSLA Tesla Inc. Add +1.3% 0.08% +0.01
IVV iShares Core S&P 500 ETF Add +0.8% 0.31% +0.01
SPY SS SPDR S&P 500 ETF Trust-US Add +0.9% 0.20% +0.01
TFC Truist Financial Corp. Add +4.3% 0.46% +0.00
CRM Salesforce Inc. Add +6.1% 0.41% −0.00
T AT&T Inc. Add +0.3% 0.06% −0.00
VLO Valero Energy Corp. Add +3.6% 0.23% −0.01
COP Conocophillips Add +16.5% 0.08% −0.01
MDT Medtronic PLC Add +8.8% 0.30% −0.01
DD Dupont DE Nemours Inc. Add +10.4% 0.35% −0.02
HD Home Depot Inc. Add +3.3% 0.52% −0.02
V Visa Inc. Class A Add +0.4% 0.39% −0.02
VHT Vanguard Health Care ETF Add +13.2% 2.44% −0.04
CB Chubb Ltd. Add +0.1% 0.36% −0.05
TMUS T-Mobile US Inc. Add +6.4% 0.33% −0.05
DUK Duke Energy Corp. Add +0.4% 0.49% −0.06
KMB Kimberly-Clark Corp. Add +2.1% 0.33% −0.06
ED Consolidated Edison Inc. Add +1.2% 0.43% −0.08
VYM Vanguard High DVD Yield ETF Add +1.7% 4.06% −0.11
LLY Eli Lilly & Co. Add +0.6% 0.88% −0.12
JNJ Johnson & Johnson Add +1.4% 0.94% −0.15
SPLV Invesco S&P 500 Low Volatili Add +1.1% 3.78% −0.37

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q3 2026 166$535.9MVB, VO, SPHQ, SHY, RSP
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