Boulay Financial Advisors, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed October 14, 2025), Boulay Financial Advisors, LLC reported 4 stock positions worth $663.0 million. Its top holding was Schwab Fndmntl US LRG Co. ETF (FNDX) at 31.6% of the portfolio, followed by Vaneck Morningstar Wide Moat (MOAT, 29.4%) and iShares Russell Top 200 Grow (IWY, 21.8%). Compared with Q1 2025, it opened 2 new positions and added to 2. The biggest buy was a new position in iShares Russell Top 200 Grow (IWY).

Most Recent 13F
Q2 2026
Location
EDEN PRAIRIE, MN
CIK
0002056342
Portfolio Value
$663.0M (Q2 2025)
SEC Filing
0002056342-25-000008 ↗ filed Oct 14, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2025: $299.3M Q1 2025 Q2 2025: $663.0M $663.0M Q2 2025 Q3 2025: $712.4M Q3 2025 Q4 2025: $850.5M Q4 2025 Q1 2026: $871.3M Q1 2026 Q2 2026: $1.1B Q2 2026

Holdings 4 stocks · $663.0M
FNDX Schwab Fndmntl US LRG Co. ETF 31.57% 8,529,264 $209.3M Add +36.0%
MOAT Vaneck Morningstar Wide Moat 29.40% 2,078,351 $194.9M Add +14.9%
IWY iShares Russell Top 200 Grow 21.80% 586,277 $144.5M New
RUNN Running Oak Efficient GR ETF 17.24% 3,377,504 $114.3M New

Portfolio Sells Q1 2025 → Q2 2025
None this quarter.

Portfolio Buys Q1 2025 → Q2 2025
IWY iShares Russell Top 200 Grow New 21.80% +21.80
RUNN Running Oak Efficient GR ETF New 17.24% +17.24
FNDX Schwab Fndmntl US LRG Co. ETF Add +36.0% 31.57% −15.23
MOAT Vaneck Morningstar Wide Moat Add +14.9% 29.40% −23.80

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 6$1.1BFNDX, MOAT, IWY, FNDF, XCEM
Q1 2026 5$871.3MFNDX, MOAT, IWY, FNDF, XCEM
Q4 2025 5$850.5MFNDX, MOAT, IWY, FNDF, RUNN
Q3 2025 4$712.4MFNDX, MOAT, IWY, RUNN
Q2 2025Amended 4$663.0MFNDX, MOAT, IWY, RUNN
Q1 2025 2$299.3MMOAT, FNDX