Intelligent Financial Strategies
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 21, 2025), Intelligent Financial Strategies reported 73 stock positions worth $205.4 million. Its top holding was Berkshire Hathaway Class B (BRK.B) at 31.5% of the portfolio, followed by Vanguard S&P 500 ETF (VOO, 12.4%) and Vanguard Tot World STK ETF (VT, 11.3%). Compared with Q2 2025, it opened 3 new positions, sold out of 15, added to 9 and reduced 29. The biggest buy was Vanguard Tot World STK ETF (VT, shares +174%) and the biggest sale Berkshire Hathaway Class B (BRK.B, shares −30%).
- Most Recent 13F
- Q2 2026
- Location
- EXCELSIOR, MN
- CIK
- 0001911000
- Portfolio Value
- $205.4M (Q3 2025)
- SEC Filing
- 0001911000-25-000008 ↗ filed Oct 21, 2025
Holdings Value
Holdings 73 stocks · $205.4M
| BRK.B Berkshire Hathaway Inc. Class B | 31.51% | 128,780 | $64.7M | Reduce -30.4% |
| VOO Vanguard S&P 500 ETF | 12.41% | 41,513 | $25.5M | Reduce -17.0% |
| VT Vanguard Tot World STK ETF | 11.28% | 168,150 | $23.2M | Add +174.0% |
| VTI VG Morningstar TS MKT ETF-US | 7.90% | 49,331 | $16.2M | Add +164.6% |
| VXUS Vanguard Total Intl Stock | 5.01% | 140,106 | $10.3M | Add +650.9% |
| BND Vanguard Total Bond Market | 4.61% | 127,450 | $9.5M | Add +4534.6% |
| AVGE Avantis All Eqty Mrkts ETF | 2.65% | 65,300 | $5.4M | Reduce -0.0% |
| BRK.A Berkshire Hathaway Inc. Class A | 2.57% | 7 | $5.3M | No change |
| DFUV Dimensional US Marketwide Va | 2.35% | 107,939 | $4.8M | Reduce -2.6% |
| VIG Vanguard Dividend Apprec ETF | 2.31% | 21,912 | $4.7M | Reduce -0.4% |
| IVV iShares Core S&P 500 ETF | 2.13% | 6,545 | $4.4M | Reduce -3.1% |
| DFAC Dimensional US Core Equity 2 | 1.76% | 93,884 | $3.6M | Add +0.1% |
| VCSH Vanguard S/T Corp. Bond ETF | 1.59% | 40,986 | $3.3M | New |
| AAPL Apple Inc. | 1.51% | 12,162 | $3.1M | Reduce -35.8% |
| GOOG Alphabet Inc. Class C | 1.15% | 9,670 | $2.4M | Reduce -21.5% |
| MDY State Street SPDR S&P Midcap | 1.09% | 3,743 | $2.2M | No change |
| MSFT Microsoft Corp. | 0.96% | 3,812 | $2.0M | Reduce -22.2% |
| MA Mastercard Inc. Class A | 0.91% | 3,270 | $1.9M | Reduce -22.7% |
| V Visa Inc. Class A | 0.78% | 4,678 | $1.6M | Reduce -21.6% |
| DFAX Dimensional World Ex US Core | 0.55% | 35,705 | $1.1M | No change |
| COST Costco Wholesale Corp. | 0.52% | 1,156 | $1.1M | Reduce -5.3% |
| SPY SS SPDR S&P 500 ETF Trust-US | 0.39% | 1,194 | $797K | No change |
| DFUS Dimensional US Eq MKT ETF | 0.32% | 9,115 | $660K | No change |
| AVUV Avantis US Small Cap Value | 0.31% | 6,383 | $635K | Add +0.0% |
| UNP Union Pacific Corp. | 0.29% | 2,538 | $600K | Reduce -32.0% |
| SGOV iShares 0-3 Month Treasury B | 0.28% | 5,755 | $580K | New |
| WMT Walmart Inc. | 0.24% | 4,845 | $499K | No change |
| HSY The Hershey Co. | 0.24% | 2,589 | $484K | Reduce -28.0% |
| MCD McDonald's Corp. | 0.22% | 1,478 | $449K | Reduce -53.5% |
| AVDE Avantis International Equity | 0.20% | 5,090 | $402K | No change |
| AVDV Avantis Intl S/C Value ETF | 0.19% | 4,271 | $380K | No change |
| VXF Vanguard Extended Market ETF | 0.14% | 1,419 | $297K | Add +0.2% |
| AOR iShares Core 60/40 Balanced | 0.14% | 4,500 | $290K | New |
| VEA Vanguard Ftse Developed ETF | 0.14% | 4,681 | $280K | Reduce -33.3% |
| GLD SPDR Gold Shares | 0.13% | 775 | $275K | No change |
| KXI iShares Global Consumer Stap | 0.12% | 3,716 | $239K | Reduce -0.5% |
| AMZN Amazon.com Inc. | 0.11% | 1,000 | $220K | Reduce -66.2% |
| JNJ Johnson & Johnson | 0.08% | 931 | $173K | Reduce -49.5% |
| VEU Vanguard Ftse All-World Ex-U | 0.08% | 2,337 | $167K | Add +6.3% |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | 0.07% | 495 | $146K | Add +0.4% |
| WEC WEC Energy Group Inc. | 0.06% | 1,059 | $121K | No change |
| PEP Pepsico Inc. | 0.05% | 783 | $110K | Reduce -69.8% |
| VV Vngrd Mrgstr LRG-Cap ETF-Usd | 0.05% | 346 | $107K | No change |
| RTX RTX Corp. | 0.05% | 632 | $106K | No change |
| AVUS Avantis U.S. Equity ETF | 0.05% | 924 | $100K | Reduce -9.1% |
| MKC McCormick & Co.-Non VTG SHRS | 0.04% | 1,270 | $85K | No change |
| CMI Cummins Inc. | 0.04% | 195 | $82K | No change |
| PM Philip Morris International | 0.04% | 470 | $76K | No change |
| AMAT Applied Materials Inc. | 0.03% | 349 | $71K | No change |
| FAST Fastenal Co. | 0.03% | 1,427 | $70K | Reduce -43.4% |
| XOM Exxon Mobil Corp. | 0.03% | 600 | $68K | No change |
| CHD Church & Dwight Co. Inc. | 0.03% | 670 | $59K | Reduce -71.2% |
| MDLZ Mondelez International Inc. Class A | 0.02% | 750 | $47K | No change |
| PHYS Sprott Physical Gold Trust | 0.02% | 1,518 | $45K | No change |
| DFAT Dimensional US Target Value | 0.02% | 729 | $42K | No change |
| RSG Republic Services Inc. | 0.02% | 166 | $38K | No change |
| NKE Nike Inc. Class B | 0.02% | 471 | $33K | Reduce -59.6% |
| IDXX Idexx Laboratories Inc. | 0.02% | 50 | $32K | No change |
| CLX Clorox Company | 0.02% | 256 | $32K | No change |
| OTIS Otis Worldwide Corp. | 0.01% | 316 | $29K | No change |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.01% | 646 | $28K | No change |
| CARR Carrier Global Corp. | 0.01% | 423 | $25K | No change |
| MOAT Vaneck Morningstar Wide Moat | 0.01% | 223 | $22K | Reduce -31.0% |
| CL Colgate-Palmolive Co. | 0.01% | 273 | $22K | No change |
| KO The Coca-Cola Co. | 0.01% | 314 | $21K | Reduce -85.3% |
| ZTS Zoetis Inc. | 0.01% | 130 | $19K | No change |
| FNDA Schwab Fndmntl US SM Co. ETF | 0.01% | 580 | $18K | No change |
| MET Metlife Inc. | 0.01% | 200 | $16K | No change |
| PG The Procter & Gamble Co. | 0.01% | 101 | $16K | Reduce -78.3% |
| IWD iShares Russell 1000 Value E | 0.01% | 50 | $10K | No change |
| PRU Prudential Financial Inc. | 0.00% | 95 | $10K | No change |
| AXP American Express Co. | 0.00% | 25 | $8K | Reduce -87.1% |
| PGR Progressive Corp. | 0.00% | 27 | $7K | Reduce -87.3% |
Portfolio Sells Q2 2025 → Q3 2025
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -30.4% | 31.51% | −16.20 |
| VOO Vanguard S&P 500 ETF | Reduce -17.0% | 12.41% | −2.72 |
| AAPL Apple Inc. | Reduce -35.8% | 1.51% | −0.56 |
| MA Mastercard Inc. Class A | Reduce -22.7% | 0.91% | −0.36 |
| V Visa Inc. Class A | Reduce -21.6% | 0.78% | −0.35 |
| MSFT Microsoft Corp. | Reduce -22.2% | 0.96% | −0.33 |
| MCD McDonald's Corp. | Reduce -53.5% | 0.22% | −0.27 |
| AMZN Amazon.com Inc. | Reduce -66.2% | 0.11% | −0.24 |
| UNP Union Pacific Corp. | Reduce -32.0% | 0.29% | −0.16 |
| DFUV Dimensional US Marketwide Va | Reduce -2.6% | 2.35% | −0.14 |
| PEP Pepsico Inc. | Reduce -69.8% | 0.05% | −0.13 |
| COST Costco Wholesale Corp. | Reduce -5.3% | 0.52% | −0.12 |
| IVV iShares Core S&P 500 ETF | Reduce -3.1% | 2.13% | −0.09 |
| CHD Church & Dwight Co. Inc. | Reduce -71.2% | 0.03% | −0.09 |
| VIG Vanguard Dividend Apprec ETF | Reduce -0.4% | 2.31% | −0.09 |
| HSY The Hershey Co. | Reduce -28.0% | 0.24% | −0.08 |
| VEA Vanguard Ftse Developed ETF | Reduce -33.3% | 0.14% | −0.08 |
| KO The Coca-Cola Co. | Reduce -85.3% | 0.01% | −0.07 |
| JNJ Johnson & Johnson | Reduce -49.5% | 0.08% | −0.07 |
| VTV Vanguard Mrngstr Val ETF-Aui | Sold out | 0.00% | −0.04 |
| AVGE Avantis All Eqty Mrkts ETF | Reduce -0.0% | 2.65% | −0.03 |
| PG The Procter & Gamble Co. | Reduce -78.3% | 0.01% | −0.03 |
| AXP American Express Co. | Reduce -87.1% | 0.00% | −0.03 |
| NKE Nike Inc. Class B | Reduce -59.6% | 0.02% | −0.03 |
| PGR Progressive Corp. | Reduce -87.3% | 0.00% | −0.03 |
| BRO Brown & Brown Inc. | Sold out | 0.00% | −0.03 |
| AJG Arthur J Gallagher & Co. | Sold out | 0.00% | −0.03 |
| CB Chubb Ltd. | Sold out | 0.00% | −0.02 |
| FAST Fastenal Co. | Reduce -43.4% | 0.03% | −0.02 |
| MRSH Marsh & McLennan Cos | Sold out | 0.00% | −0.02 |
| CPRT Copart Inc. | Sold out | 0.00% | −0.01 |
| GOOG Alphabet Inc. Class C | Reduce -21.5% | 1.15% | −0.01 |
| KXI iShares Global Consumer Stap | Reduce -0.5% | 0.12% | −0.01 |
| VSDA Victoryshares Dividend Accel | Sold out | 0.00% | −0.01 |
| SBUX Starbucks Corp. | Sold out | 0.00% | −0.01 |
| NEE Nextera Energy Inc. | Sold out | 0.00% | −0.01 |
| DEO Diageo PLC-Sponsored ADR | Sold out | 0.00% | −0.01 |
| WRB WR Berkley Corp. | Sold out | 0.00% | −0.01 |
| RYAN Ryan Specialty Holdings Inc. | Sold out | 0.00% | −0.01 |
| RLI Rli Corp. | Sold out | 0.00% | −0.01 |
| AVUS Avantis U.S. Equity ETF | Reduce -9.1% | 0.05% | −0.01 |
| MOAT Vaneck Morningstar Wide Moat | Reduce -31.0% | 0.01% | −0.01 |
| ADBE Adobe Inc. | Sold out | 0.00% | −0.00 |
| DBA Invesco DB Agriculture Fund | Sold out | 0.00% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| VT Vanguard Tot World STK ETF | Add +174.0% | 11.28% | +7.09 |
| VTI VG Morningstar TS MKT ETF-US | Add +164.6% | 7.90% | +4.89 |
| BND Vanguard Total Bond Market | Add +4534.6% | 4.61% | +4.51 |
| VXUS Vanguard Total Intl Stock | Add +650.9% | 5.01% | +4.33 |
| VCSH Vanguard S/T Corp. Bond ETF | New | 1.59% | +1.59 |
| SGOV iShares 0-3 Month Treasury B | New | 0.28% | +0.28 |
| AOR iShares Core 60/40 Balanced | New | 0.14% | +0.14 |
| VEU Vanguard Ftse All-World Ex-U | Add +6.3% | 0.08% | +0.00 |
| AVUV Avantis US Small Cap Value | Add +0.0% | 0.31% | +0.00 |
| VXF Vanguard Extended Market ETF | Add +0.2% | 0.14% | −0.00 |
| VO Vngrd Mrngstr MD-Cap ETF-Usd | Add +0.4% | 0.07% | −0.00 |
| DFAC Dimensional US Core Equity 2 | Add +0.1% | 1.76% | −0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 60 | $207.8M | BRK.B, VOO, VT, VTI, VXUS |
| Q1 2026 | 62 | $191.9M | BRK.B, VOO, VT, VTI, VXUS |
| Q4 2025 | 72 | $207.9M | BRK.B, VOO, VT, VTI, VXUS |
| Q3 2025 | 73 | $205.4M | BRK.B, VOO, VT, VTI, VXUS |
| Q2 2025 | 85 | $188.4M | BRK.B, VOO, VT, VTI, BRK.A |
| Q1 2025 | 82 | $191.7M | BRK.B, VOO, VTI, BRK.A, AVGE |
| Q4 2024 | 79 | $180.6M | BRK.B, VOO, VTI, AAPL, AVGE |
| Q3 2024 | 81 | $181.6M | BRK.B, VOO, VTI, AVGE, DFUV |
| Q2 2024 | 82 | $162.5M | BRK.B, VOO, VTI, AVGE, DFUV |
| Q1 2024 | 85 | $161.2M | BRK.B, VOO, VTI, AVGE, DFUV |