Intelligent Financial Strategies

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 31, 2025), Intelligent Financial Strategies reported 85 stock positions worth $188.4 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 47.7% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 15.1%) and Vanguard Tot World STK ETF (VT, 4.2%). Compared with Q1 2025, it opened 7 new positions, sold out of 4, added to 11 and reduced 14. The biggest buy was Vanguard Tot World STK ETF (VT, shares +173%) and the biggest sale VG Morningstar TS MKT ETF-US (VTI, shares −45%).

Most Recent 13F
Q2 2026
Location
EXCELSIOR, MN
CIK
0001911000
Portfolio Value
$188.4M (Q2 2025)
SEC Filing
0001911000-25-000007 ↗ filed Jul 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 Q4 2024 Q1 2025: $191.7M Q1 2025 Q2 2025: $188.4M $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 · $188.4M
BRK.B Berkshire Hathaway Inc. Class B 47.71% 185,088 $89.9M Add +2.4%
VOO Vanguard S&P 500 ETF 15.13% 50,031 $28.5M Reduce -12.3%
VT Vanguard Tot World STK ETF 4.19% 61,365 $7.9M Add +172.7%
VTI VG Morningstar TS MKT ETF-US 3.02% 18,646 $5.7M Reduce -44.5%
BRK.A Berkshire Hathaway Inc. Class A 2.71% 7 $5.1M No change
AVGE Avantis All Eqty Mrkts ETF 2.69% 65,321 $5.1M Reduce -5.1%
DFUV Dimensional US Marketwide Va 2.49% 110,788 $4.7M Reduce -2.3%
VIG Vanguard Dividend Apprec ETF 2.40% 21,995 $4.5M No change
IVV iShares Core S&P 500 ETF 2.23% 6,758 $4.2M Reduce -3.8%
AAPL Apple Inc. 2.06% 18,943 $3.9M Reduce -5.4%
DFAC Dimensional US Core Equity 2 1.78% 93,828 $3.4M Add +21.6%
MSFT Microsoft Corp. 1.29% 4,897 $2.4M No change
MA Mastercard Inc. Class A 1.26% 4,229 $2.4M Add +0.0%
GOOG Alphabet Inc. Class C 1.16% 12,319 $2.2M Add +0.2%
MDY State Street SPDR S&P Midcap 1.13% 3,743 $2.1M Reduce -2.7%
V Visa Inc. Class A 1.12% 5,963 $2.1M No change
VXUS Vanguard Total Intl Stock 0.68% 18,659 $1.3M Add +53.5%
COST Costco Wholesale Corp. 0.64% 1,221 $1.2M No change
DFAX Dimensional World Ex US Core 0.56% 35,705 $1.0M No change
MCD McDonald's Corp. 0.49% 3,180 $929K No change
UNP Union Pacific Corp. 0.46% 3,734 $859K No change
SPY SS SPDR S&P 500 ETF Trust-US 0.39% 1,194 $740K No change
AMZN Amazon.com Inc. 0.34% 2,960 $649K No change
DFUS Dimensional US Eq MKT ETF 0.32% 9,115 $611K No change
HSY The Hershey Co. 0.32% 3,594 $596K Reduce -19.3%
AVUV Avantis US Small Cap Value 0.31% 6,382 $581K Add +0.0%
WMT Walmart Inc. 0.25% 4,845 $474K No change
VEA Vanguard Ftse Developed ETF 0.21% 7,013 $400K Add +0.6%
AVDE Avantis International Equity 0.20% 5,090 $377K No change
PEP Pepsico Inc. 0.18% 2,595 $343K No change
AVDV Avantis Intl S/C Value ETF 0.18% 4,271 $339K No change
JNJ Johnson & Johnson 0.15% 1,844 $282K Reduce -10.6%
VXF Vanguard Extended Market ETF 0.14% 1,416 $273K Reduce -8.8%
KXI iShares Global Consumer Stap 0.13% 3,736 $244K No change
GLD SPDR Gold Shares 0.13% 775 $236K No change
CHD Church & Dwight Co. Inc. 0.12% 2,322 $223K No change
BND Vanguard Total Bond Market 0.11% 2,750 $202K No change
KO The Coca-Cola Co. 0.08% 2,135 $152K Add +0.1%
VEU Vanguard Ftse All-World Ex-U 0.08% 2,199 $148K Add +14.6%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.07% 493 $139K Reduce -3.0%
WEC WEC Energy Group Inc. 0.06% 1,059 $110K No change
FAST Fastenal Co. 0.06% 2,522 $106K No change
AVUS Avantis U.S. Equity ETF 0.05% 1,017 $102K Reduce -9.0%
VV Vngrd Mrgstr LRG-Cap ETF-Usd 0.05% 346 $99K No change
MKC McCormick & Co.-Non VTG SHRS 0.05% 1,270 $96K No change
RTX RTX Corp. 0.05% 632 $92K No change
PM Philip Morris International 0.05% 470 $86K No change
NKE Nike Inc. Class B 0.04% 1,165 $83K Reduce -48.3%
VTV Vanguard Mrngstr Val ETF-Aui 0.04% 445 $79K No change
PG The Procter & Gamble Co. 0.04% 466 $74K No change
XOM Exxon Mobil Corp. 0.03% 600 $65K No change
AMAT Applied Materials Inc. 0.03% 349 $64K No change
CMI Cummins Inc. 0.03% 195 $64K No change
AXP American Express Co. 0.03% 194 $62K No change
PGR Progressive Corp. 0.03% 212 $57K No change
MDLZ Mondelez International Inc. Class A 0.03% 750 $51K No change
BRO Brown & Brown Inc. 0.03% 445 $49K No change
AJG Arthur J Gallagher & Co. filed as GALLAGHER ARTHUR J & CO 0.03% 154 $49K No change
CB Chubb Ltd. 0.02% 149 $43K No change
MRSH Marsh & McLennan Cos 0.02% 189 $41K No change
RSG Republic Services Inc. 0.02% 166 $41K No change
DFAT Dimensional US Target Value 0.02% 729 $39K No change
PHYS Sprott Physical Gold Trust 0.02% 1,518 $38K New
OTIS Otis Worldwide Corp. 0.02% 316 $31K No change
CARR Carrier Global Corp. 0.02% 423 $31K No change
CLX Clorox Company 0.02% 256 $31K No change
MOAT Vaneck Morningstar Wide Moat 0.02% 323 $30K New
CPRT Copart Inc. 0.01% 575 $28K No change
IDXX Idexx Laboratories Inc. 0.01% 50 $27K No change
FNDF Schwab Fndmn Intl LRG Co. ETF 0.01% 646 $26K New
CL Colgate-Palmolive Co. 0.01% 273 $25K No change
VSDA Victoryshares Dividend Accel 0.01% 460 $24K New
SBUX Starbucks Corp. 0.01% 254 $23K No change
NEE Nextera Energy Inc. 0.01% 330 $23K Add +0.6%
DEO Diageo PLC-Sponsored ADR 0.01% 215 $22K Reduce -70.0%
ZTS Zoetis Inc. 0.01% 130 $20K No change
WRB WR Berkley Corp. filed as BERKLEY W R CORP 0.01% 231 $17K No change
FNDA Schwab Fndmntl US SM Co. ETF 0.01% 580 $17K New
RYAN Ryan Specialty Holdings Inc. 0.01% 239 $16K No change
MET Metlife Inc. 0.01% 200 $16K No change
RLI Rli Corp. 0.01% 184 $13K No change
PRU Prudential Financial Inc. 0.01% 95 $10K No change
IWD iShares Russell 1000 Value E 0.01% 50 $10K New
ADBE Adobe Inc. 0.00% 20 $8K No change
DBA Invesco DB Agriculture Fund 0.00% 239 $6K New

Portfolio Sells Q1 2025 → Q2 2025
VTI VG Morningstar TS MKT ETF-US Reduce -44.5% 3.02% −1.81
AAPL Apple Inc. Reduce -5.4% 2.06% −0.26
VOO Vanguard S&P 500 ETF Reduce -12.3% 15.13% −0.17
HSY The Hershey Co. Reduce -19.3% 0.32% −0.08
NKE Nike Inc. Class B Reduce -48.3% 0.04% −0.03
JNJ Johnson & Johnson Reduce -10.6% 0.15% −0.03
DEO Diageo PLC-Sponsored ADR Reduce -70.0% 0.01% −0.03
MMM 3M Co. Sold out 0.00% −0.02
IEMG iShares Core MSCI Emerging Sold out 0.00% −0.00
SOLV Solventum Corp. Sold out 0.00% −0.00
XLG Invesco S&P 500 Top 50 ETF Sold out 0.00% −0.00
AVUS Avantis U.S. Equity ETF Reduce -9.0% 0.05% +0.00
VO Vngrd Mrngstr MD-Cap ETF-Usd Reduce -3.0% 0.07% +0.01
VXF Vanguard Extended Market ETF Reduce -8.8% 0.14% +0.01
DFUV Dimensional US Marketwide Va Reduce -2.3% 2.49% +0.05
MDY State Street SPDR S&P Midcap Reduce -2.7% 1.13% +0.06
AVGE Avantis All Eqty Mrkts ETF Reduce -5.1% 2.69% +0.13
IVV iShares Core S&P 500 ETF Reduce -3.8% 2.23% +0.17

Portfolio Buys Q1 2025 → Q2 2025
VT Vanguard Tot World STK ETF Add +172.7% 4.19% +2.82
DFAC Dimensional US Core Equity 2 Add +21.6% 1.78% +0.46
VXUS Vanguard Total Intl Stock Add +53.5% 0.68% +0.29
GOOG Alphabet Inc. Class C Add +0.2% 1.16% +0.16
MA Mastercard Inc. Class A Add +0.0% 1.26% +0.05
VEA Vanguard Ftse Developed ETF Add +0.6% 0.21% +0.03
PHYS Sprott Physical Gold Trust New 0.02% +0.02
AVUV Avantis US Small Cap Value Add +0.0% 0.31% +0.02
VEU Vanguard Ftse All-World Ex-U Add +14.6% 0.08% +0.02
MOAT Vaneck Morningstar Wide Moat New 0.02% +0.02
FNDF Schwab Fndmn Intl LRG Co. ETF New 0.01% +0.01
VSDA Victoryshares Dividend Accel New 0.01% +0.01
FNDA Schwab Fndmntl US SM Co. ETF New 0.01% +0.01
IWD iShares Russell 1000 Value E New 0.01% +0.01
DBA Invesco DB Agriculture Fund New 0.00% +0.00
KO The Coca-Cola Co. Add +0.1% 0.08% +0.00
NEE Nextera Energy Inc. Add +0.6% 0.01% 0.00
BRK.B Berkshire Hathaway Inc. Class B Add +2.4% 47.71% −2.52

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