Boulay Financial Advisors, LLC

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 14, 2025), Boulay Financial Advisors, LLC reported 4 stock positions worth $712.4 million. Its top holding was Schwab Fndmntl US LRG Co. ETF (FNDX) at 32.4% of the portfolio, followed by Vaneck Morningstar Wide Moat (MOAT, 29.5%) and iShares Russell Top 200 Grow (IWY, 22.0%). Compared with Q2 2025, it added to 2 and reduced 2. The biggest buy was Schwab Fndmntl US LRG Co. ETF (FNDX, shares +3%) and the biggest sale Running Oak Efficient GR ETF (RUNN, shares −1%).

Most Recent 13F
Q2 2026
Location
EDEN PRAIRIE, MN
CIK
0002056342
Portfolio Value
$712.4M (Q3 2025)
SEC Filing
0002056342-25-000007 ↗ filed Oct 14, 2025

Holdings Value

0$500.0M$1.0B$1.5B Q1 2025: $299.3M Q1 2025 Q2 2025: $663.0M Q2 2025 Q3 2025: $712.4M $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 · $712.4M
FNDX Schwab Fndmntl US LRG Co. ETF 32.39% 8,772,604 $230.7M Add +2.9%
MOAT Vaneck Morningstar Wide Moat 29.48% 2,119,374 $210.1M Add +2.0%
IWY iShares Russell Top 200 Grow 21.98% 572,205 $156.6M Reduce -2.4%
RUNN Running Oak Efficient GR ETF 16.15% 3,357,381 $115.1M Reduce -0.6%

Portfolio Sells Q2 2025 → Q3 2025
RUNN Running Oak Efficient GR ETF Reduce -0.6% 16.15% −1.09
IWY iShares Russell Top 200 Grow Reduce -2.4% 21.98% +0.18

Portfolio Buys Q2 2025 → Q3 2025
FNDX Schwab Fndmntl US LRG Co. ETF Add +2.9% 32.39% +0.82
MOAT Vaneck Morningstar Wide Moat Add +2.0% 29.48% +0.09

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