Hoese & Co LLP

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 9, 2024), Hoese & Co LLP reported 177 stock positions worth $119.4 million. Its top holding was iShares US Treasury Bond ETF (GOVT) at 17.1% of the portfolio, followed by iShares Core S&P 500 ETF (IVV, 16.9%) and Invesco S&P 500 Quality ETF (SPHQ, 8.9%). Compared with Q2 2024, it opened 36 new positions, sold out of 3, added to 16 and reduced 31. The biggest buy was a new position in iShares 3-7 Year Treasury Bo (IEI) and the biggest sale SS SPDR S&P 500 ETF Trust-US (SPY, shares −45%).

Most Recent 13F
Q2 2026
Location
GLENCOE, MN
CIK
0001840268
Portfolio Value
$119.4M (Q3 2024)
SEC Filing
0001840268-24-000006 ↗ filed Oct 9, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $109.6M Q1 2024 Q2 2024: $114.6M Q2 2024 Q3 2024: $119.4M $119.4M Q3 2024 Q4 2024: $115.2M Q4 2024 Q1 2025: $115.3M Q1 2025 Q2 2025: $124.0M Q2 2025 Q3 2025: $130.8M Q3 2025 Q4 2025: $140.3M Q4 2025 Q1 2026: $134.7M Q1 2026 Q2 2026: $153.9M Q2 2026

Holdings 177 stocks · $119.4M
GOVT iShares US Treasury Bond ETF 17.13% 871,845 $20.4M Reduce -2.4%
IVV iShares Core S&P 500 ETF 16.88% 34,938 $20.2M Reduce -3.6%
SPHQ Invesco S&P 500 Quality ETF 8.88% 157,526 $10.6M Reduce -4.0%
QUAL iShares MSCI USA Quality Fac 6.97% 46,390 $8.3M Reduce -2.7%
IUSB Ishr CR Unvrse Usd BD ETF-Ui 6.08% 154,017 $7.3M Reduce -3.1%
VOO Vanguard S&P 500 ETF 5.85% 13,239 $7.0M Reduce -14.9%
VIG Vanguard Dividend Apprec ETF 4.55% 27,417 $5.4M Reduce -5.5%
DGRO iShares Core Dividend Growth 4.10% 78,023 $4.9M Reduce -0.8%
SPY SS SPDR S&P 500 ETF Trust-US 3.44% 7,167 $4.1M Reduce -45.4%
USMV iShares MSCI USA Min Vol Fac 3.38% 44,197 $4.0M Reduce -10.9%
VTI VG Morningstar TS MKT ETF-US 3.13% 13,180 $3.7M Reduce -13.2%
IEI iShares 3-7 Year Treasury Bo 2.06% 20,584 $2.5M New
IWF iShares Russell 1000 Growth 2.01% 6,392 $2.4M Reduce -5.8%
BRK.A Berkshire Hathaway Inc. Class A 1.74% 3 $2.1M No change
IGEB iShares Investment Grade SYS 1.48% 38,125 $1.8M New
XLK SS Technology Select Sector 1.13% 5,979 $1.3M Reduce -6.6%
SCHG Schwab US Large-Cap Growth 0.97% 11,064 $1.2M Reduce -9.0%
ILCG iShares Morningstar Growth E 0.85% 12,027 $1.0M Reduce -5.8%
IWD iShares Russell 1000 Value E 0.83% 5,224 $992K No change
IQLT iShares MSCI International Q 0.80% 23,099 $958K Reduce -39.5%
MSFT Microsoft Corp. 0.54% 1,492 $642K Add +30.9%
XEL Xcel Energy Inc. 0.45% 8,197 $535K Add +880.5%
DVY iShares Select Dividend ETF 0.37% 3,275 $442K Reduce -15.7%
HWKN Hawkins Inc. 0.31% 2,890 $368K Reduce -3.3%
PEP Pepsico Inc. 0.30% 2,105 $358K Reduce -4.8%
JNJ Johnson & Johnson 0.29% 2,164 $351K Add +2.5%
AAPL Apple Inc. 0.26% 1,312 $306K Add +43.9%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.25% 1,110 $293K No change
MDY State Street SPDR S&P Midcap 0.19% 400 $228K Reduce -7.0%
PG The Procter & Gamble Co. 0.16% 1,135 $197K No change
IJH iShares Core S&P Midcap ETF 0.16% 3,095 $193K No change
EMR Emerson Electric Co. 0.16% 1,750 $191K No change
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.16% 4,700 $186K Add +4.4%
SYY Sysco Corp. 0.16% 2,383 $186K No change
BRK.B Berkshire Hathaway Inc. Class B 0.15% 400 $184K No change
RPG Invesco S&P 500 Pure Growth 0.14% 4,310 $169K No change
KLAC KLA Corp. 0.13% 200 $155K No change
XOM Exxon Mobil Corp. 0.13% 1,277 $150K No change
ETN Eaton Corp. PLC 0.12% 426 $141K No change
USB US Bancorp 0.10% 2,670 $122K Add +8.1%
HD Home Depot Inc. 0.10% 292 $118K Add +11.9%
PRFZ Inv Rafi US 1500 SM-Usd Inc. 0.09% 2,675 $111K Reduce -55.3%
PRF Invesco Rafi US 1000 ETF 0.09% 2,570 $104K Reduce -48.8%
MRK Merck & Co. Inc. 0.09% 902 $102K Reduce -27.4%
JPM JPMorgan Chase & Co. 0.09% 485 $102K No change
UNP Union Pacific Corp. 0.09% 413 $102K Add +3076.9%
FCX Freeport-McMoran Inc. 0.08% 2,000 $100K New
NVS Novartis AG-Sponsored ADR 0.08% 825 $95K No change
MDT Medtronic PLC 0.08% 1,011 $91K No change
UNH Unitedhealth Group Inc. 0.07% 150 $88K No change
ABBV Abbvie Inc. 0.07% 444 $88K Reduce -8.6%
NVDA Nvidia Corp. 0.07% 720 $87K Add +900.0%
MO Altria Group Inc. 0.07% 1,600 $82K No change
TSLA Tesla Inc. 0.07% 300 $78K New
AXP American Express Co. 0.06% 280 $76K No change
FISV Fiserv Inc. 0.06% 403 $72K No change
AMGN Amgen Inc. 0.06% 220 $71K No change
MSI Motorola Solutions Inc. 0.05% 144 $65K No change
XLU St Sr Utl SL SE SPDR ETF-Usd 0.05% 800 $65K Reduce -19.2%
ACN Accenture PLC Class A 0.05% 180 $64K Reduce -41.0%
AMAT Applied Materials Inc. 0.05% 301 $61K No change
PM Philip Morris International 0.05% 500 $61K No change
META Meta Platforms Inc. Class A 0.05% 105 $60K Add +2000.0%
ENB Enbridge Inc. 0.05% 1,469 $60K No change
NVO Novo-Nordisk A/S-Spons ADR 0.05% 500 $60K No change
ADI Analog Devices Inc. 0.05% 253 $58K No change
TSM Taiwan Semiconductor-SP ADR 0.05% 333 $58K No change
LLY Eli Lilly & Co. 0.05% 65 $58K No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.05% 200 $56K No change
SHV iShares 0-1 Year Treasury Bo 0.04% 480 $53K No change
PSX Phillips 66 0.04% 402 $53K Add +33.1%
COP Conocophillips 0.04% 500 $53K Add +400.0%
ABT Abbott Laboratories 0.04% 450 $51K No change
LIN Linde PLC 0.04% 100 $48K No change
GOOG Alphabet Inc. Class C 0.04% 260 $43K No change
WFC Wells Fargo & Co. 0.03% 724 $41K No change
BND Vanguard Total Bond Market 0.03% 540 $41K No change
OTTR Otter Tail Corp. 0.03% 500 $39K New
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.03% 675 $38K No change
EFA iShares MSCI Eafe ETF 0.03% 450 $38K Reduce -36.6%
AMZN Amazon.com Inc. 0.03% 200 $37K New
OKE Oneok Inc. 0.03% 400 $36K No change
HWM Howmet Aerospace Inc. 0.03% 337 $34K Add +23.9%
WMT Walmart Inc. 0.03% 405 $33K New
QQQ Invesco QQQ Trust Series 1 0.03% 62 $30K Reduce -55.7%
T AT&T Inc. 0.02% 1,350 $30K Reduce -8.0%
CL Colgate-Palmolive Co. 0.02% 285 $30K No change
DFS Discover Financial Services 0.02% 201 $28K No change
LNG Cheniere Energy Inc. 0.02% 150 $27K No change
VZ Verizon Communications Inc. 0.02% 600 $27K No change
NEM Newmont Corp. 0.02% 500 $27K New
CVX Chevron Corp. 0.02% 168 $25K No change
CIEN Ciena Corp. 0.02% 400 $25K New
MCHP Microchip Technology Inc. 0.02% 300 $24K No change
XBXMX Nuveen S&P 500 Buy-WR Inc. 0.02% 1,750 $24K No change
VEA Vanguard Ftse Developed ETF 0.02% 388 $20K Reduce -63.8%
HL Hecla Mining Co. 0.02% 3,000 $20K New
SHEL Shell PLC-ADR 0.02% 300 $20K No change
SO The Southern Co. 0.02% 200 $18K No change
FIS Fidelity National Info Serv 0.01% 209 $18K No change
EPD Enterprise Products Partners 0.01% 600 $17K No change
RTX RTX Corp. 0.01% 142 $17K No change
COR Cencora Inc. 0.01% 75 $17K No change
NVT Nvent Electric PLC 0.01% 224 $16K No change
RQI Cohen & Steers Qual Inc. RLTY 0.01% 1,085 $15K New
GSIE Goldman Sachs Activebeta Int 0.01% 378 $14K No change
CNQ Canadian Natural Resources 0.01% 400 $13K Add +100.0%
DCI Donaldson Co. Inc. 0.01% 180 $13K No change
VCIT Vanguard Int-Term Corporate 0.01% 158 $13K No change
O Realty Income Corp. 0.01% 200 $13K No change
RY Royal Bank of Canada 0.01% 100 $12K No change
SPSB SS SPDR P St C Corp. ETF 0.01% 408 $12K No change
VGIT Vanguard Intermediate-Term T 0.01% 204 $12K No change
CEF Sprott Physical Gold and Sil 0.01% 500 $12K New
BCS Barclays PLC-Spons ADR 0.01% 1,000 $12K New
AVGO Broadcom Inc. 0.01% 70 $12K No change
IRM Iron Mountain Inc. filed as IRON MTN INC DEL 0.01% 100 $12K No change
C Citigroup Inc. 0.01% 173 $11K Add +137.0%
FUL H.B. Fuller Co. filed as FULLER H B CO 0.01% 134 $11K No change
MS Morgan Stanley 0.01% 100 $10K New
TTE Totalenergies SE -Spon ADR 0.01% 159 $10K No change
SHW The Sherwin-Williams Co. 0.01% 26 $10K No change
SCHW Schwab (charles) Corp. 0.01% 152 $10K No change
ET Energy Transfer LP 0.01% 600 $10K No change
HSY The Hershey Co. 0.01% 50 $10K No change
TTC Toro Co. 0.01% 108 $9K No change
PSA Public Storage 0.01% 25 $9K No change
LFUS Littelfuse Inc. 0.01% 32 $8K No change
SAFT Safety Insurance Group Inc. 0.01% 100 $8K No change
MCD McDonald's Corp. 0.01% 26 $8K Reduce -16.1%
INTC Intel Corp. 0.01% 336 $8K No change
ORI Old Republic Intl Corp. 0.01% 210 $7K No change
KO The Coca-Cola Co. 0.01% 100 $7K New
CUT Invesco MSCI Global Timber E 0.01% 200 $7K New
MFC Manulife Financial Corp. 0.01% 226 $7K No change
CTAS Cintas Corp. 0.01% 32 $7K No change
TWLO Twilio Inc. Class A 0.01% 100 $7K New
UBS UBS Group AG-Reg 0.01% 200 $6K New
PRLB Proto Labs Inc. 0.00% 200 $6K No change
SLV iShares Silver Trust 0.00% 200 $6K New
WM Waste Management Inc. 0.00% 26 $5K No change
SNAP Snap Inc. Class A 0.00% 500 $5K New
CLF Cleveland-Cliffs Inc. 0.00% 400 $5K New
NTR Nutrien Ltd. 0.00% 100 $5K No change
BLK BlackRock Finance Inc. 0.00% 5 $5K No change
GE General Electric filed as GE AEROSPACE 0.00% 25 $5K New
BKNG Booking Holdings Inc. 0.00% 1 $4K No change
SU Suncor Energy Inc. 0.00% 111 $4K No change
AA Alcoa Corp. 0.00% 106 $4K Add +20.4%
LRCX Lam Research Corp. 0.00% 5 $4K No change
QCOM Qualcomm Inc. 0.00% 24 $4K No change
COHR Coherent Corp. 0.00% 44 $4K New
MDLZ Mondelez International Inc. Class A 0.00% 48 $4K No change
CE Celanese Corp. 0.00% 26 $4K No change
MUR Murphy Oil Corp. 0.00% 100 $3K New
ZBH Zimmer Biomet Holdings Inc. 0.00% 30 $3K No change
LVS Las Vegas Sands Corp. 0.00% 63 $3K No change
CTSH Cognizant Tech Solutions-A 0.00% 41 $3K No change
EA Electronic Arts Inc. 0.00% 22 $3K No change
LNT Alliant Energy Corp. 0.00% 50 $3K No change
EFV iShares MSCI Eafe Value ETF 0.00% 48 $3K No change
BMY Bristol-Myers Squibb Co. 0.00% 50 $3K New
TGT Target Corp. 0.00% 14 $2K No change
BABA Alibaba Group Holding-SP ADR 0.00% 20 $2K New
IPG Interpublic Group of Cos Inc. 0.00% 66 $2K No change
PII Polaris Inc. 0.00% 24 $2K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.00% 20 $2K No change
SIRI Sirius XM Holdings Inc. 0.00% 72 $2K New
CENX Century Aluminum Company 0.00% 100 $2K New
GEV GE Vernova Inc. 0.00% 6 $2K New
NG Novagold Resources Inc. 0.00% 300 $1K New
F Ford Motor Co. filed as FORD MTR CO 0.00% 100 $1K New
GEHC GE Healthcare Technology 0.00% 8 $750 New
UAA Under Armour Inc. Class A 0.00% 50 $445 New
WAB Wabtec Corp. 0.00% 1 $181 New
CHRD Chord Energy Corp. 0.00% 1 $130 New
TMQ Trilogy Metals Inc. 0.00% 50 $24 New
Other holdings (1): bonds, preferreds, convertibles and warrants · $6K (not counted above)
SecurityClassShares / PrincipalValueChange
WELLS FARGO & COMPANY (WFC 7.5 PERP L) PERP PFD CNV A 5$6KNo change

Total filed on the 13F, all lines: $119.4M.

Portfolio Sells Q2 2024 → Q3 2024
SPY SS SPDR S&P 500 ETF Trust-US Reduce -45.4% 3.44% −2.59
VOO Vanguard S&P 500 ETF Reduce -14.9% 5.85% −0.73
IQLT iShares MSCI International Q Reduce -39.5% 0.80% −0.53
GOVT iShares US Treasury Bond ETF Reduce -2.4% 17.13% −0.34
VTI VG Morningstar TS MKT ETF-US Reduce -13.2% 3.13% −0.33
USMV iShares MSCI USA Min Vol Fac Reduce -10.9% 3.38% −0.20
IUSB Ishr CR Unvrse Usd BD ETF-Ui Reduce -3.1% 6.08% −0.17
PRFZ Inv Rafi US 1500 SM-Usd Inc. Reduce -55.3% 0.09% −0.11
PRF Invesco Rafi US 1000 ETF Reduce -48.8% 0.09% −0.08
DVY iShares Select Dividend ETF Reduce -15.7% 0.37% −0.05
MRK Merck & Co. Inc. Reduce -27.4% 0.09% −0.05
XLK SS Technology Select Sector Reduce -6.6% 1.13% −0.04
SCHG Schwab US Large-Cap Growth Reduce -9.0% 0.97% −0.04
PEP Pepsico Inc. Reduce -4.8% 0.30% −0.03
VIG Vanguard Dividend Apprec ETF Reduce -5.5% 4.55% −0.03
VEA Vanguard Ftse Developed ETF Reduce -63.8% 0.02% −0.03
QQQ Invesco QQQ Trust Series 1 Reduce -55.7% 0.03% −0.03
TXN Texas Instruments Inc. Sold out 0.00% −0.03
ACN Accenture PLC Class A Reduce -41.0% 0.05% −0.02
EFA iShares MSCI Eafe ETF Reduce -36.6% 0.03% −0.02
IWF iShares Russell 1000 Growth Reduce -5.8% 2.01% −0.02
MDY State Street SPDR S&P Midcap Reduce -7.0% 0.19% −0.01
ILCG iShares Morningstar Growth E Reduce -5.8% 0.85% −0.01
XLU St Sr Utl SL SE SPDR ETF-Usd Reduce -19.2% 0.05% −0.01
COST Costco Wholesale Corp. Sold out 0.00% −0.01
TEL Te Connectivity Ltd. Sold out 0.00% −0.00
MCD McDonald's Corp. Reduce -16.1% 0.01% −0.00
T AT&T Inc. Reduce -8.0% 0.02% +0.00
ABBV Abbvie Inc. Reduce -8.6% 0.07% +0.01
QUAL iShares MSCI USA Quality Fac Reduce -2.7% 6.97% +0.07
SPHQ Invesco S&P 500 Quality ETF Reduce -4.0% 8.88% +0.08
HWKN Hawkins Inc. Reduce -3.3% 0.31% +0.08
IVV iShares Core S&P 500 ETF Reduce -3.6% 16.88% +0.13
DGRO iShares Core Dividend Growth Reduce -0.8% 4.10% +0.15

Portfolio Buys Q2 2024 → Q3 2024
IEI iShares 3-7 Year Treasury Bo New 2.06% +2.06
IGEB iShares Investment Grade SYS New 1.48% +1.48
XEL Xcel Energy Inc. Add +880.5% 0.45% +0.41
MSFT Microsoft Corp. Add +30.9% 0.54% +0.12
AAPL Apple Inc. Add +43.9% 0.26% +0.10
FCX Freeport-McMoran Inc. New 0.08% +0.08
UNP Union Pacific Corp. Add +3076.9% 0.09% +0.08
TSLA Tesla Inc. New 0.07% +0.07
META Meta Platforms Inc. Class A Add +2000.0% 0.05% +0.05
COP Conocophillips Add +400.0% 0.04% +0.03
OTTR Otter Tail Corp. New 0.03% +0.03
AMZN Amazon.com Inc. New 0.03% +0.03
WMT Walmart Inc. New 0.03% +0.03
JNJ Johnson & Johnson Add +2.5% 0.29% +0.02
HD Home Depot Inc. Add +11.9% 0.10% +0.02
NEM Newmont Corp. New 0.02% +0.02
CIEN Ciena Corp. New 0.02% +0.02
HL Hecla Mining Co. New 0.02% +0.02
USB US Bancorp Add +8.1% 0.10% +0.01
RQI Cohen & Steers Qual Inc. RLTY New 0.01% +0.01
CEF Sprott Physical Gold and Sil New 0.01% +0.01
BCS Barclays PLC-Spons ADR New 0.01% +0.01
MS Morgan Stanley New 0.01% +0.01
HWM Howmet Aerospace Inc. Add +23.9% 0.03% +0.01
PSX Phillips 66 Add +33.1% 0.04% +0.01
KO The Coca-Cola Co. New 0.01% +0.01
CUT Invesco MSCI Global Timber E New 0.01% +0.01
TWLO Twilio Inc. Class A New 0.01% +0.01
UBS UBS Group AG-Reg New 0.01% +0.01
C Citigroup Inc. Add +137.0% 0.01% +0.01
SLV iShares Silver Trust New 0.00% +0.00
SNAP Snap Inc. Class A New 0.00% +0.00
CLF Cleveland-Cliffs Inc. New 0.00% +0.00
NVDA Nvidia Corp. Add +900.0% 0.07% +0.00
GE General Electric New 0.00% +0.00
COHR Coherent Corp. New 0.00% +0.00
MUR Murphy Oil Corp. New 0.00% +0.00
BMY Bristol-Myers Squibb Co. New 0.00% +0.00
BABA Alibaba Group Holding-SP ADR New 0.00% +0.00
CENX Century Aluminum Company New 0.00% +0.00
SIRI Sirius XM Holdings Inc. New 0.00% +0.00
GEV GE Vernova Inc. New 0.00% +0.00
NG Novagold Resources Inc. New 0.00% +0.00
F Ford Motor Co. New 0.00% +0.00
GEHC GE Healthcare Technology New 0.00% +0.00
UAA Under Armour Inc. Class A New 0.00% +0.00
WAB Wabtec Corp. New 0.00% +0.00
CHRD Chord Energy Corp. New 0.00% +0.00
AA Alcoa Corp. Add +20.4% 0.00% 0.00
TMQ Trilogy Metals Inc. New 0.00% 0.00

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 183$153.9MIEI, IVV, SPHQ, DYNF, DGRO
Q1 2026 135$134.7MIEI, IVV, SPHQ, DYNF, DGRO
Q4 2025 136$140.3MIEI, IVV, SPHQ, DGRO, VIG
Q3 2025 125$130.8MIEI, IVV, SPHQ, QUAL, VIG
Q2 2025 154$124.0MIEI, IVV, SPHQ, QUAL, DGRO
Q1 2025 152$115.3MIEI, IVV, SPHQ, QUAL, IUSB
Q4 2024 165$115.2MIEI, IVV, SPHQ, QUAL, IUSB
Q3 2024 177$119.4MGOVT, IVV, SPHQ, QUAL, IUSB
Q2 2024 144$114.6MGOVT, IVV, SPHQ, QUAL, VOO
Q1 2024 136$109.6MIVV, GOVT, SPHQ, SPY, VOO