Intelligent Financial Strategies

In its 13F for Q1 2024 (holdings as of March 31, 2024, filed April 29, 2024), Intelligent Financial Strategies reported 85 stock positions worth $161.2 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 43.4% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 16.5%) and VG Morningstar TS MKT ETF-US (VTI, 5.7%). Compared with Q4 2023, it opened 10 new positions, sold out of 2, added to 13 and reduced 23. The biggest buy was a new position in Berkshire Hathaway Class B (BRK.B) and the biggest sale an exit from Berkshire Hathaway.

Most Recent 13F
Q2 2026
Location
EXCELSIOR, MN
CIK
0001911000
Portfolio Value
$161.2M (Q1 2024)
SEC Filing
0001911000-24-000002 ↗ filed Apr 29, 2024

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $161.2M $161.2M Q1 2024 Q2 2024: $162.5M Q2 2024 Q3 2024: $181.6M Q3 2024 Q4 2024: $180.6M Q4 2024 Q1 2025: $191.7M Q1 2025 Q2 2025: $188.4M Q2 2025 Q3 2025: $205.4M Q3 2025 Q4 2025: $207.9M Q4 2025 Q1 2026: $191.9M Q1 2026 Q2 2026: $207.8M Q2 2026

Holdings 85 stocks · $161.2M
BRK.B Berkshire Hathaway Inc. Class B 43.41% 166,431 $70.0M New
VOO Vanguard S&P 500 ETF 16.51% 55,377 $26.6M Add +35.6%
VTI VG Morningstar TS MKT ETF-US 5.72% 35,490 $9.2M Add +12.1%
AVGE Avantis All Eqty Mrkts ETF 3.20% 73,861 $5.2M Reduce -27.9%
DFUV Dimensional US Marketwide Va 3.06% 120,727 $4.9M Reduce -2.3%
VIG Vanguard Dividend Apprec ETF 2.56% 22,631 $4.1M Add +0.0%
IVV iShares Core S&P 500 ETF 2.45% 7,505 $3.9M Add +1.9%
VT Vanguard Tot World STK ETF 2.16% 31,526 $3.5M Add +6.9%
AAPL Apple Inc. 2.15% 20,189 $3.5M Add +0.0%
DFAC Dimensional US Core Equity 2 1.53% 77,113 $2.5M Reduce -63.8%
MSFT Microsoft Corp. 1.49% 5,727 $2.4M No change
MDY State Street SPDR S&P Midcap 1.33% 3,857 $2.1M No change
MA Mastercard Inc. Class A 1.26% 4,227 $2.0M Add +0.6%
GOOG Alphabet Inc. Class C 1.25% 13,270 $2.0M No change
V Visa Inc. Class A 1.19% 6,856 $1.9M Add +0.7%
BRK.A Berkshire Hathaway Inc. Class A 0.79% 2 $1.3M No change
HSY The Hershey Co. 0.67% 5,552 $1.1M Reduce -0.6%
MCD McDonald's Corp. 0.64% 3,666 $1.0M No change
UNP Union Pacific Corp. 0.59% 3,851 $947K No change
DFAX Dimensional World Ex US Core 0.57% 36,090 $918K Reduce -66.2%
COST Costco Wholesale Corp. 0.56% 1,221 $895K Add +9.5%
VXUS Vanguard Total Intl Stock 0.47% 12,592 $759K Reduce -0.1%
NKE Nike Inc. Class B 0.44% 7,463 $704K Reduce -2.8%
PEP Pepsico Inc. 0.41% 3,706 $653K No change
JNJ Johnson & Johnson 0.40% 4,110 $650K Reduce -2.3%
DFUS Dimensional US Eq MKT ETF 0.40% 11,370 $648K Reduce -6.7%
AVUV Avantis US Small Cap Value 0.40% 6,877 $644K Reduce -73.8%
SPY SS SPDR S&P 500 ETF Trust-US 0.39% 1,194 $626K No change
AMZN Amazon.com Inc. 0.33% 2,960 $534K No change
VEA Vanguard Ftse Developed ETF 0.31% 9,913 $497K Add +1463.6%
DEO Diageo PLC-Sponsored ADR 0.22% 2,389 $360K Reduce -24.5%
KXI iShares Global Consumer Stap 0.21% 5,670 $346K No change
AVDE Avantis International Equity 0.20% 5,090 $324K Reduce -11.3%
BF.B Brown-Forman Corp. Class B 0.20% 6,079 $316K Reduce -42.8%
VXF Vanguard Extended Market ETF 0.19% 1,753 $307K Add +0.1%
WMT Walmart Inc. 0.18% 4,845 $293K No change
AVDV Avantis Intl S/C Value ETF 0.17% 4,271 $281K Reduce -31.4%
MKC McCormick & Co.-Non VTG SHRS 0.16% 3,296 $253K Reduce -7.4%
BND Vanguard Total Bond Market 0.16% 3,475 $252K Reduce -60.8%
CHD Church & Dwight Co. Inc. 0.15% 2,367 $247K No change
KO The Coca-Cola Co. 0.11% 2,922 $180K No change
GLD SPDR Gold Shares 0.10% 775 $159K Reduce -25.5%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.08% 487 $122K Add +0.4%
FAST Fastenal Co. 0.08% 1,573 $121K No change
AVUS Avantis U.S. Equity ETF 0.07% 1,258 $113K Reduce -74.1%
VEU Vanguard Ftse All-World Ex-U 0.07% 1,887 $111K Add +0.4%
WEC WEC Energy Group Inc. 0.05% 1,059 $87K No change
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.05% 348 $83K No change
PG The Procter & Gamble Co. 0.05% 466 $76K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.04% 445 $72K Reduce -15.2%
AMAT Applied Materials Inc. 0.04% 349 $72K No change
XOM Exxon Mobil Corp. 0.04% 600 $70K No change
RTX RTX Corp. 0.04% 632 $62K No change
CMI Cummins Inc. 0.04% 195 $57K No change
MDLZ Mondelez International Inc. Class A 0.03% 750 $53K No change
DFAT Dimensional US Target Value 0.03% 896 $49K Reduce -34.9%
BRO Brown & Brown Inc. 0.03% 509 $45K New
RLI Rli Corp. 0.03% 300 $45K New
MRSH Marsh & McLennan Cos 0.03% 216 $44K New
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.03% 503 $44K New
AXP American Express Co. 0.03% 194 $44K New
CB Chubb Ltd. 0.03% 170 $44K New
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.03% 176 $44K New
PGR Progressive Corp. 0.03% 212 $44K New
PM Philip Morris International 0.03% 470 $44K No change
RYAN Ryan Specialty Holdings Inc. 0.03% 784 $44K New
CLX Clorox Company 0.02% 256 $39K No change
ABBV Abbvie Inc. 0.02% 212 $39K No change
DG Dollar General Corp. 0.02% 241 $38K Reduce -34.7%
MO Altria Group Inc. 0.02% 800 $36K No change
ADP Automatic Data Processing 0.02% 135 $34K No change
CPRT Copart Inc. 0.02% 575 $33K No change
RSG Republic Services Inc. 0.02% 166 $32K No change
OTIS Otis Worldwide Corp. 0.02% 316 $31K No change
EMR Emerson Electric Co. 0.02% 255 $29K No change
IDXX Idexx Laboratories Inc. 0.02% 50 $27K No change
CL Colgate-Palmolive Co. 0.02% 273 $25K No change
CARR Carrier Global Corp. 0.02% 423 $25K No change
SBUX Starbucks Corp. 0.01% 260 $24K No change
ZTS Zoetis Inc. 0.01% 130 $22K No change
NEE Nextera Energy Inc. 0.01% 328 $21K Reduce -24.8%
HRL Hormel Foods Corp. 0.01% 430 $15K No change
MET Metlife Inc. 0.01% 200 $15K No change
PRU Prudential Financial Inc. 0.01% 95 $11K No change
AEE Ameren Corporation 0.01% 148 $11K Reduce -4.5%

Portfolio Sells Q4 2023 → Q1 2024
BERKSHIRE HATHAWAY INC Sold out 0.00% −39.02
DFAC Dimensional US Core Equity 2 Reduce -63.8% 1.53% −2.83
AVGE Avantis All Eqty Mrkts ETF Reduce -27.9% 3.20% −1.44
DFAX Dimensional World Ex US Core Reduce -66.2% 0.57% −1.25
AVUV Avantis US Small Cap Value Reduce -73.8% 0.40% −1.25
BND Vanguard Total Bond Market Reduce -60.8% 0.16% −0.30
BF.B Brown-Forman Corp. Class B Reduce -42.8% 0.20% −0.23
AVUS Avantis U.S. Equity ETF Reduce -74.1% 0.07% −0.21
DFUV Dimensional US Marketwide Va Reduce -2.3% 3.06% −0.15
NKE Nike Inc. Class B Reduce -2.8% 0.44% −0.15
DEO Diageo PLC-Sponsored ADR Reduce -24.5% 0.22% −0.10
AVDV Avantis Intl S/C Value ETF Reduce -31.4% 0.17% −0.10
HSY The Hershey Co. Reduce -0.6% 0.67% −0.06
JNJ Johnson & Johnson Reduce -2.3% 0.40% −0.06
AVDE Avantis International Equity Reduce -11.3% 0.20% −0.04
GLD SPDR Gold Shares Reduce -25.5% 0.10% −0.04
DFUS Dimensional US Eq MKT ETF Reduce -6.7% 0.40% −0.04
VXUS Vanguard Total Intl Stock Reduce -0.1% 0.47% −0.04
DFAT Dimensional US Target Value Reduce -34.9% 0.03% −0.02
MKC McCormick & Co.-Non VTG SHRS Reduce -7.4% 0.16% −0.01
DG Dollar General Corp. Reduce -34.7% 0.02% −0.01
VTV Vanguard Mrngstr Val ETF-Aui Reduce -15.2% 0.04% −0.01
AVEM Avantis Emerging Markets Eq Sold out 0.00% −0.01
NEE Nextera Energy Inc. Reduce -24.8% 0.01% −0.01
AEE Ameren Corporation Reduce -4.5% 0.01% −0.00

Portfolio Buys Q4 2023 → Q1 2024
BRK.B Berkshire Hathaway Inc. Class B New 43.41% +43.41
VOO Vanguard S&P 500 ETF Add +35.6% 16.51% +4.03
VTI VG Morningstar TS MKT ETF-US Add +12.1% 5.72% +0.47
VEA Vanguard Ftse Developed ETF Add +1463.6% 0.31% +0.29
VT Vanguard Tot World STK ETF Add +6.9% 2.16% +0.04
COST Costco Wholesale Corp. Add +9.5% 0.56% +0.03
WRB WR Berkley Corp. New 0.03% +0.03
BRO Brown & Brown Inc. New 0.03% +0.03
MRSH Marsh & McLennan Cos New 0.03% +0.03
RLI Rli Corp. New 0.03% +0.03
AXP American Express Co. New 0.03% +0.03
AJG Arthur J Gallagher & Co. New 0.03% +0.03
CB Chubb Ltd. New 0.03% +0.03
PGR Progressive Corp. New 0.03% +0.03
RYAN Ryan Specialty Holdings Inc. New 0.03% +0.03
MA Mastercard Inc. Class A Add +0.6% 1.26% +0.01
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +0.4% 0.08% −0.00
VEU Vanguard Ftse All-World Ex-U Add +0.4% 0.07% −0.01
VXF Vanguard Extended Market ETF Add +0.1% 0.19% −0.01
IVV iShares Core S&P 500 ETF Add +1.9% 2.45% −0.01
V Visa Inc. Class A Add +0.7% 1.19% −0.05
VIG Vanguard Dividend Apprec ETF Add +0.0% 2.56% −0.13
AAPL Apple Inc. Add +0.0% 2.15% −0.57

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 60$207.8MBRK.B, VOO, VT, VTI, VXUS
Q1 2026 62$191.9MBRK.B, VOO, VT, VTI, VXUS
Q4 2025 72$207.9MBRK.B, VOO, VT, VTI, VXUS
Q3 2025 73$205.4MBRK.B, VOO, VT, VTI, VXUS
Q2 2025 85$188.4MBRK.B, VOO, VT, VTI, BRK.A
Q1 2025 82$191.7MBRK.B, VOO, VTI, BRK.A, AVGE
Q4 2024 79$180.6MBRK.B, VOO, VTI, AAPL, AVGE
Q3 2024 81$181.6MBRK.B, VOO, VTI, AVGE, DFUV
Q2 2024 82$162.5MBRK.B, VOO, VTI, AVGE, DFUV
Q1 2024 85$161.2MBRK.B, VOO, VTI, AVGE, DFUV