Intelligent Financial Strategies

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 31, 2025), Intelligent Financial Strategies reported 79 stock positions worth $180.6 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 45.2% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 17.5%) and VG Morningstar TS MKT ETF-US (VTI, 5.5%). Compared with Q3 2024, it sold out of 1, added to 9 and reduced 26. The biggest buy was Vanguard Tot World STK ETF (VT, shares +57%) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −1%).

Most Recent 13F
Q2 2026
Location
EXCELSIOR, MN
CIK
0001911000
Portfolio Value
$180.6M (Q4 2024)
SEC Filing
0001911000-25-000001 ↗ filed Jan 31, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $161.2M Q1 2024 Q2 2024: $162.5M Q2 2024 Q3 2024: $181.6M Q3 2024 Q4 2024: $180.6M $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 79 stocks · $180.6M
BRK.B Berkshire Hathaway Inc. Class B 45.23% 180,184 $81.7M Reduce -0.7%
VOO Vanguard S&P 500 ETF 17.52% 58,696 $31.6M Reduce -0.1%
VTI VG Morningstar TS MKT ETF-US 5.53% 34,448 $10.0M Reduce -2.1%
AAPL Apple Inc. 2.80% 20,192 $5.1M Add +0.0%
AVGE Avantis All Eqty Mrkts ETF 2.76% 68,843 $5.0M Reduce -2.3%
DFUV Dimensional US Marketwide Va 2.61% 115,083 $4.7M Reduce -1.3%
VIG Vanguard Dividend Apprec ETF 2.43% 22,432 $4.4M Reduce -0.8%
IVV iShares Core S&P 500 ETF 2.32% 7,131 $4.2M Reduce -2.8%
BRK.A Berkshire Hathaway Inc. Class A 1.89% 5 $3.4M No change
VT Vanguard Tot World STK ETF 1.48% 22,804 $2.7M Add +56.6%
DFAC Dimensional US Core Equity 2 1.48% 77,143 $2.7M Add +0.0%
GOOG Alphabet Inc. Class C 1.40% 13,294 $2.5M Add +0.0%
MSFT Microsoft Corp. 1.33% 5,705 $2.4M Reduce -0.4%
MA Mastercard Inc. Class A 1.23% 4,228 $2.2M No change
MDY State Street SPDR S&P Midcap 1.22% 3,846 $2.2M Reduce -0.3%
V Visa Inc. Class A 1.06% 6,040 $1.9M Reduce -6.4%
COST Costco Wholesale Corp. 0.62% 1,221 $1.1M No change
MCD McDonald's Corp. 0.51% 3,179 $922K Reduce -4.7%
DFAX Dimensional World Ex US Core 0.49% 35,705 $888K No change
HSY The Hershey Co. 0.48% 5,157 $873K Reduce -3.5%
UNP Union Pacific Corp. 0.47% 3,734 $851K Reduce -3.0%
VXUS Vanguard Total Intl Stock 0.40% 12,135 $715K Reduce -3.3%
SPY SS SPDR S&P 500 ETF Trust-US 0.39% 1,194 $702K No change
AMZN Amazon.com Inc. 0.36% 2,960 $649K No change
DFUS Dimensional US Eq MKT ETF 0.35% 9,958 $635K Reduce -2.2%
AVUV Avantis US Small Cap Value 0.34% 6,381 $616K Add +0.0%
PEP Pepsico Inc. 0.27% 3,245 $493K Reduce -5.1%
WMT Walmart Inc. 0.24% 4,845 $439K No change
VEA Vanguard Ftse Developed ETF 0.21% 7,763 $371K Reduce -13.8%
KXI iShares Global Consumer Stap 0.19% 5,670 $342K No change
AVDE Avantis International Equity 0.17% 5,090 $312K No change
JNJ Johnson & Johnson 0.17% 2,061 $298K Add +0.1%
VXF Vanguard Extended Market ETF 0.16% 1,547 $294K Reduce -1.0%
AVDV Avantis Intl S/C Value ETF 0.15% 4,271 $278K No change
NKE Nike Inc. Class B 0.14% 3,391 $258K Reduce -17.2%
CHD Church & Dwight Co. Inc. 0.14% 2,367 $248K No change
BND Vanguard Total Bond Market 0.13% 3,295 $237K Reduce -5.2%
GLD SPDR Gold Shares 0.10% 775 $188K No change
KO The Coca-Cola Co. 0.07% 2,133 $133K Add +0.2%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.07% 492 $130K Add +0.4%
DEO Diageo PLC-Sponsored ADR 0.06% 921 $117K Reduce -23.6%
AVUS Avantis U.S. Equity ETF 0.06% 1,153 $112K Reduce -4.2%
VEU Vanguard Ftse All-World Ex-U 0.06% 1,925 $111K Add +1.6%
WEC WEC Energy Group Inc. 0.06% 1,059 $100K No change
MKC McCormick & Co.-Non VTG SHRS 0.05% 1,270 $97K No change
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.05% 346 $93K Reduce -0.6%
FAST Fastenal Co. 0.05% 1,261 $91K Reduce -19.8%
PG The Procter & Gamble Co. 0.04% 466 $78K No change
VTV Vanguard Mrngstr Val ETF-Aui 0.04% 445 $75K No change
RTX RTX Corp. 0.04% 632 $73K No change
CMI Cummins Inc. 0.04% 195 $68K No change
XOM Exxon Mobil Corp. 0.04% 600 $65K No change
AXP American Express Co. 0.03% 194 $58K No change
PM Philip Morris International 0.03% 470 $57K No change
AMAT Applied Materials Inc. 0.03% 349 $57K No change
PGR Progressive Corp. 0.03% 212 $51K No change
BRO Brown & Brown Inc. 0.03% 445 $45K No change
MDLZ Mondelez International Inc. Class A 0.03% 750 $45K No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.02% 154 $44K No change
CLX Clorox Company 0.02% 256 $42K No change
CB Chubb Ltd. 0.02% 149 $41K No change
DFAT Dimensional US Target Value 0.02% 729 $41K Reduce -3.1%
MRSH Marsh & McLennan Cos 0.02% 189 $40K No change
RSG Republic Services Inc. 0.02% 166 $33K No change
CPRT Copart Inc. 0.02% 575 $33K No change
OTIS Otis Worldwide Corp. 0.02% 316 $29K No change
CARR Carrier Global Corp. 0.02% 423 $29K No change
CL Colgate-Palmolive Co. 0.01% 273 $25K No change
NEE Nextera Energy Inc. 0.01% 328 $24K No change
SBUX Starbucks Corp. 0.01% 254 $23K No change
ZTS Zoetis Inc. 0.01% 130 $21K No change
IDXX Idexx Laboratories Inc. 0.01% 50 $21K No change
MET Metlife Inc. 0.01% 200 $16K No change
RYAN Ryan Specialty Holdings Inc. 0.01% 239 $15K No change
RLI Rli Corp. 0.01% 92 $15K No change
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.01% 231 $14K No change
ABBV Abbvie Inc. 0.01% 67 $12K Reduce -68.4%
PRU Prudential Financial Inc. 0.01% 95 $11K No change
ADBE Adobe Inc. 0.00% 20 $9K No change
Lines left out (1) · $128 — a value with no share or principal amount
SecurityClassSharesValue
ADP Automatic Data Processing COM0$128

Filed with a value but no share or principal amount (a cash line, a holding rounded to 0 shares), so they are kept out of the holdings, totals and percentages.

Total filed on the 13F, all lines: $180.6M.

Portfolio Sells Q3 2024 → Q4 2024
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.7% 45.23% −0.74
AVGE Avantis All Eqty Mrkts ETF Reduce -2.3% 2.76% −0.11
HSY The Hershey Co. Reduce -3.5% 0.48% −0.08
DFUV Dimensional US Marketwide Va Reduce -1.3% 2.61% −0.07
NKE Nike Inc. Class B Reduce -17.2% 0.14% −0.06
VEA Vanguard Ftse Developed ETF Reduce -13.8% 0.21% −0.06
VXUS Vanguard Total Intl Stock Reduce -3.3% 0.40% −0.05
UNP Union Pacific Corp. Reduce -3.0% 0.47% −0.05
MCD McDonald's Corp. Reduce -4.7% 0.51% −0.05
PEP Pepsico Inc. Reduce -5.1% 0.27% −0.05
VIG Vanguard Dividend Apprec ETF Reduce -0.8% 2.43% −0.04
DEO Diageo PLC-Sponsored ADR Reduce -23.6% 0.06% −0.03
MSFT Microsoft Corp. Reduce -0.4% 1.33% −0.03
ABBV Abbvie Inc. Reduce -68.4% 0.01% −0.02
BF.B Brown-Forman Corp. Class B Sold out 0.00% −0.01
BND Vanguard Total Bond Market Reduce -5.2% 0.13% −0.01
FAST Fastenal Co. Reduce -19.8% 0.05% −0.01
IVV iShares Core S&P 500 ETF Reduce -2.8% 2.32% −0.00
AVUS Avantis U.S. Equity ETF Reduce -4.2% 0.06% −0.00
DFAT Dimensional US Target Value Reduce -3.1% 0.02% −0.00
VV Vngrd Mrgstr LRG-Cap ETF-Usd Reduce -0.6% 0.05% +0.00
DFUS Dimensional US Eq MKT ETF Reduce -2.2% 0.35% +0.00
MDY State Street SPDR S&P Midcap Reduce -0.3% 1.22% +0.00
VXF Vanguard Extended Market ETF Reduce -1.0% 0.16% +0.01
VTI VG Morningstar TS MKT ETF-US Reduce -2.1% 5.53% +0.03
V Visa Inc. Class A Reduce -6.4% 1.06% +0.08
VOO Vanguard S&P 500 ETF Reduce -0.1% 17.52% +0.39

Portfolio Buys Q3 2024 → Q4 2024
VT Vanguard Tot World STK ETF Add +56.6% 1.48% +0.52
AAPL Apple Inc. Add +0.0% 2.80% +0.21
GOOG Alphabet Inc. Class C Add +0.0% 1.40% +0.18
DFAC Dimensional US Core Equity 2 Add +0.0% 1.48% +0.02
AVUV Avantis US Small Cap Value Add +0.0% 0.34% +0.00
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +0.4% 0.07% +0.00
VEU Vanguard Ftse All-World Ex-U Add +1.6% 0.06% −0.00
KO The Coca-Cola Co. Add +0.2% 0.07% −0.01
JNJ Johnson & Johnson Add +0.1% 0.17% −0.02

Notes & Other Activity Q3 2024 → Q4 2024
ADP Automatic Data Processing COM Reduce -100.0% 0 $128

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

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