Friday Financial

In its 13F for Q1 2025 (holdings as of March 31, 2025, filed April 22, 2025), Friday Financial reported 71 stock positions worth $167.1 million. Its top holding was iShares Core S&P Total U.S. (ITOT) at 22.7% of the portfolio, followed by Schwab US Large-Cap Growth (SCHG, 7.6%) and Vanguard Intermediate-Term T (VGIT, 5.3%). Compared with Q4 2024, it opened 7 new positions, sold out of 1, added to 34 and reduced 7. The biggest buy was a new position in Umb Financial (UMBF) and the biggest sale an exit from Heartland Financial USA (HTLF).

Most Recent 13F
Q2 2026
Location
DUBUQUE, IA
CIK
0002048792
Portfolio Value
$167.1M (Q1 2025)
SEC Filing
0002048792-25-000002 ↗ filed Apr 22, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q4 2024: $145.1M Q4 2024 Q1 2025: $167.1M $167.1M Q1 2025 Q2 2025: $196.6M Q2 2025 Q3 2025: $238.8M Q3 2025 Q4 2025: $283.6M Q4 2025 Q1 2026: $290.2M Q1 2026 Q2 2026: $373.4M Q2 2026

Holdings 71 stocks · $167.1M
ITOT iShares Core S&P Total U.S. 22.67% 307,233 $37.9M Add +15.2%
SCHG Schwab US Large-Cap Growth 7.63% 500,654 $12.7M Add +3.1%
VGIT Vanguard Intermediate-Term T 5.27% 148,666 $8.8M Add +29.5%
BSVO EA Bridgeway Omni Sm-Cp Val 5.19% 439,923 $8.7M Add +20.5%
IDEV iShares Core MSCI Dev MKTS 4.06% 97,902 $6.8M Add +24.9%
CWI State Street SPDR MSCI Acwi 3.97% 223,054 $6.6M No change
DFSD Dimensional Short Duration 3.85% 135,161 $6.4M Add +18.3%
SCHV Schwab US Large-Cap Value 3.71% 231,748 $6.2M Add +2.0%
AVDV Avantis Intl S/C Value ETF 3.67% 87,924 $6.1M Add +26.7%
SCHD Schwab US DVD Equity ETF 3.48% 208,617 $5.8M Add +5.2%
DFEM Dimensional Emrg MRKT Core 3.25% 203,434 $5.4M Add +30.1%
VTIP Vanguard Short-Term Tips 2.61% 87,690 $4.4M Add +19.1%
AAPL Apple Inc. 2.26% 16,902 $3.8M Add +232.2%
VIG Vanguard Dividend Apprec ETF 1.83% 15,710 $3.1M Add +1.0%
SCHF Schwab Intl Equity ETF 1.81% 151,743 $3.0M Add +1.0%
SPYV SS SPDR P S&P 500 Value ETF 1.59% 51,808 $2.7M Reduce -0.1%
UMBF Umb Financial Corp. 1.45% 23,767 $2.4M New
VTI VG Morningstar TS MKT ETF-US 1.28% 7,699 $2.1M Add +138.9%
DUHP Dimensional US High Profi Et 1.20% 60,046 $2.0M Add +38.9%
DIHP Dimensional International Hi 1.18% 72,874 $2.0M Add +50.6%
AVUV Avantis US Small Cap Value 1.06% 19,860 $1.8M Add +45.5%
IWF iShares Russell 1000 Growth 1.04% 4,753 $1.7M No change
VXUS Vanguard Total Intl Stock 0.94% 25,187 $1.6M No change
HYMB SS SPDR N Ice HY Muni ETF 0.73% 48,381 $1.2M Add +8.6%
IWP iShares Russell Mid-Cap Grow 0.69% 9,622 $1.2M No change
SLYG SS SPDR S&P 600 SC GR ETF 0.69% 13,585 $1.1M Reduce -1.5%
TSLA Tesla Inc. 0.62% 3,662 $1.0M Add +116.8%
VWO Vanguard Ftse Emerging Marke 0.60% 21,913 $996K No change
HYD Vaneck High Yield Muni ETF 0.54% 17,785 $909K Reduce -21.6%
VOE Vngrd Mrngstr MD-Cap Val ETF 0.52% 5,365 $869K Reduce -0.0%
IEMG iShares Core MSCI Emerging 0.51% 15,648 $849K Add +0.2%
FMB First Trust Managed Municipa 0.50% 16,614 $839K No change
VBR Vngrd Mrngst SL-CP Val ETF-U 0.46% 4,048 $768K No change
VBK Van Morst SML-Cap Gro-Usd Inc. 0.45% 2,899 $746K Reduce -9.7%
IBIT iShares Bitcoin Trust ETF 0.43% 14,389 $711K Add +26.2%
DFNM Dimensional National Muni BD 0.40% 14,159 $675K No change
BRK.B Berkshire Hathaway Inc. Class B 0.39% 1,204 $647K Add +36.2%
EEM iShares MSCI Emerging Market 0.38% 14,646 $643K No change
IVW iShares S&P 500 Growth ETF 0.38% 6,703 $632K No change
JMUB JPMorgan Municipal ETF 0.33% 11,174 $558K No change
WMT Walmart Inc. 0.32% 5,993 $538K New
VOT Vngrd Mrngstr MC GRW ETF-Usd 0.30% 1,987 $495K No change
QQQ Invesco QQQ Trust Series 1 0.28% 990 $471K No change
JPM JPMorgan Chase & Co. 0.28% 1,895 $466K Add +112.9%
PWR Quanta Services Inc. 0.27% 1,721 $455K New
IWS iShares Russell Mid-Cap Valu 0.27% 3,556 $454K Reduce -11.0%
VYMI Vanguard Int High DVD YLD Inc. 0.26% 5,921 $438K Add +0.6%
DGRW Wisdomtree U.S. Quality Divi 0.25% 5,300 $426K No change
DE Deere & Co. 0.24% 859 $405K Add +76.0%
MSTR Strategy Inc. filed as MICROSTRATEGY INC 0.24% 1,290 $403K New
IWN iShares Russell 2000 Value E 0.24% 2,605 $398K No change
IJK iShares S&P Mid-Cap 400 Grow 0.24% 4,638 $396K No change
NVDA Nvidia Corp. 0.24% 3,572 $394K Add +42.9%
MDYV SS SPDR S&P 400 MC Val ETF 0.23% 4,922 $385K Add +3.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.21% 1,409 $352K Add +36.5%
DON Wisdomtree US Midcap Dividen 0.21% 7,004 $352K Add +7.7%
MUB iShares National Muni Bond E 0.21% 3,320 $350K Add +28.0%
MMIT Nylim Mackay Muni Intermedia filed as NEW YORK LIFE INVTS ACTIVE E 0.20% 14,231 $341K Add +1.1%
SLYV SS SPDR S&P 600 SC Val ETF 0.18% 3,867 $308K Reduce -2.3%
IVE iShares S&P 500 Value ETF 0.18% 1,600 $306K No change
MUNI PIMCO Intermediate Municipal 0.17% 5,506 $284K No change
AMZN Amazon.com Inc. 0.16% 1,406 $276K New
DHS Wisdomtree US High Dividend 0.16% 2,754 $271K Add +10.4%
SDY SS SPDR S&P Dividend ETF 0.15% 1,902 $259K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.15% 2,630 $257K New
HMOP Hartford Municipal Opp ETF 0.15% 6,443 $248K No change
XLP SS Consumer Staples Sel Sect 0.15% 3,000 $245K Add +9.1%
MSFT Microsoft Corp. 0.14% 624 $238K New
GOOG Alphabet Inc. Class C 0.14% 1,446 $230K No change
IJJ iShares S&P Mid-Cap 400 Valu 0.13% 1,724 $210K No change
CMBMF Cambium Networks Corp. 0.01% 53,186 $18K No change

Portfolio Sells Q4 2024 → Q1 2025
HTLF Heartland Financial USA Inc. Sold out 0.00% −1.64
HYD Vaneck High Yield Muni ETF Reduce -21.6% 0.54% −0.27
SPYV SS SPDR P S&P 500 Value ETF Reduce -0.1% 1.59% −0.24
VBK Van Morst SML-Cap Gro-Usd Inc. Reduce -9.7% 0.45% −0.17
SLYG SS SPDR S&P 600 SC GR ETF Reduce -1.5% 0.69% −0.17
IWS iShares Russell Mid-Cap Valu Reduce -11.0% 0.27% −0.08
VOE Vngrd Mrngstr MD-Cap Val ETF Reduce -0.0% 0.52% −0.08
SLYV SS SPDR S&P 600 SC Val ETF Reduce -2.3% 0.18% −0.05

Portfolio Buys Q4 2024 → Q1 2025
UMBF Umb Financial Corp. New 1.45% +1.45
AAPL Apple Inc. Add +232.2% 2.26% +1.39
VGIT Vanguard Intermediate-Term T Add +29.5% 5.27% +0.68
VTI VG Morningstar TS MKT ETF-US Add +138.9% 1.28% +0.64
IDEV iShares Core MSCI Dev MKTS Add +24.9% 4.06% +0.58
AVDV Avantis Intl S/C Value ETF Add +26.7% 3.67% +0.56
DFEM Dimensional Emrg MRKT Core Add +30.1% 3.25% +0.42
DIHP Dimensional International Hi Add +50.6% 1.18% +0.34
WMT Walmart Inc. New 0.32% +0.32
PWR Quanta Services Inc. New 0.27% +0.27
MSTR Strategy Inc. New 0.24% +0.24
DUHP Dimensional US High Profi Et Add +38.9% 1.20% +0.19
AMZN Amazon.com Inc. New 0.16% +0.16
DFSD Dimensional Short Duration Add +18.3% 3.85% +0.16
DIS The Walt Disney Co. New 0.15% +0.15
VTIP Vanguard Short-Term Tips Add +19.1% 2.61% +0.15
TSLA Tesla Inc. Add +116.8% 0.62% +0.15
AVUV Avantis US Small Cap Value Add +45.5% 1.06% +0.15
MSFT Microsoft Corp. New 0.14% +0.14
JPM JPMorgan Chase & Co. Add +112.9% 0.28% +0.13
BRK.B Berkshire Hathaway Inc. Class B Add +36.2% 0.39% +0.11
DE Deere & Co. Add +76.0% 0.24% +0.10
IBM Intl Business Machines Corp. Add +36.5% 0.21% +0.05
MUB iShares National Muni Bond E Add +28.0% 0.21% +0.02
IBIT iShares Bitcoin Trust ETF Add +26.2% 0.43% +0.01
NVDA Nvidia Corp. Add +42.9% 0.24% +0.00
DHS Wisdomtree US High Dividend Add +10.4% 0.16% +0.00
XLP SS Consumer Staples Sel Sect Add +9.1% 0.15% −0.00
VYMI Vanguard Int High DVD YLD Inc. Add +0.6% 0.26% −0.01
DON Wisdomtree US Midcap Dividen Add +7.7% 0.21% −0.02
MMIT Nylim Mackay Muni Intermedia Add +1.1% 0.20% −0.03
MDYV SS SPDR S&P 400 MC Val ETF Add +3.5% 0.23% −0.03
HYMB SS SPDR N Ice HY Muni ETF Add +8.6% 0.73% −0.05
IEMG iShares Core MSCI Emerging Add +0.2% 0.51% −0.05
SCHF Schwab Intl Equity ETF Add +1.0% 1.81% −0.11
BSVO EA Bridgeway Omni Sm-Cp Val Add +20.5% 5.19% −0.25
SCHD Schwab US DVD Equity ETF Add +5.2% 3.48% −0.25
VIG Vanguard Dividend Apprec ETF Add +1.0% 1.83% −0.27
SCHV Schwab US Large-Cap Value Add +2.0% 3.71% −0.37
ITOT iShares Core S&P Total U.S. Add +15.2% 22.67% −0.96
SCHG Schwab US Large-Cap Growth Add +3.1% 7.63% −1.70

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 108$373.4MITOT, SCHG, BSVO, VGIT, IDEV
Q1 2026 93$290.2MITOT, BSVO, SCHG, VGIT, IDEV
Q4 2025 90$283.6MITOT, SCHG, BSVO, VGIT, IDEV
Q3 2025 91$238.8MITOT, SCHG, BSVO, VGIT, IDEV
Q2 2025 86$196.6MITOT, SCHG, BSVO, VGIT, IDEV
Q1 2025 71$167.1MITOT, SCHG, VGIT, BSVO, IDEV
Q4 2024 65$145.1MITOT, SCHG, BSVO, VGIT, CWI