Joule Financial, LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 22, 2025), Joule Financial, LLC reported 108 stock positions worth $308.0 million. Its top holding was Vanguard Total Bond Market (BND) at 20.0% of the portfolio, followed by Invesco S&P 500 Equal Weight (RSP, 13.0%) and Ishr Ibx Usd Invgd CB ETF-Ui (LQD, 8.6%). Compared with Q1 2025, it opened 15 new positions, sold out of 10, added to 50 and reduced 35. The biggest buy was Schwab US Small-Cap ETF (SCHA, shares +24%) and the biggest sale an exit from Vaneck Gold Miners ETF (GDX).

Most Recent 13F
Q2 2026
Location
Lexington, KY
CIK
0001929070
Portfolio Value
$308.0M (Q2 2025)
SEC Filing
0001172661-25-002679 ↗ filed Jul 22, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q1 2024: $242.8M Q1 2024 Q2 2024: $246.0M Q2 2024 Q3 2024: $274.8M Q3 2024 Q4 2024: $282.9M Q4 2024 Q1 2025: $284.9M Q1 2025 Q2 2025: $308.0M $308.0M Q2 2025 Q3 2025: $333.8M Q3 2025 Q4 2025: $333.8M Q4 2025 Q1 2026: $343.3M Q1 2026 Q2 2026: $368.8M Q2 2026

Holdings 108 stocks · $308.0M
BND Vanguard Total Bond Market 20.03% 837,820 $61.7M Add +2.3%
RSP Invesco S&P 500 Equal Weight 13.00% 220,300 $40.0M Add +1.4%
LQD Ishr Ibx Usd Invgd CB ETF-Ui 8.64% 242,784 $26.6M Add +2.2%
SCHA Schwab US Small-Cap ETF 6.69% 814,902 $20.6M Add +23.5%
SCHD Schwab US DVD Equity ETF 6.61% 767,946 $20.4M Add +2.8%
IEF iShares 7-10 Year Treasury B 5.27% 169,407 $16.2M Add +0.7%
VEA Vanguard Ftse Developed ETF 2.53% 136,821 $7.8M Reduce -0.6%
VWO Vanguard Ftse Emerging Marke 2.38% 148,145 $7.3M Add +0.3%
GLD SPDR Gold Shares 1.70% 17,196 $5.2M Reduce -23.4%
VGT Vanguard Info Tech ETF 1.64% 7,622 $5.1M Add +0.1%
SCHE Schwab Emrg Mrkts Eqty ETF 1.63% 166,782 $5.0M Add +1.3%
TLT iShares 20+ Year Treasury BD 1.59% 55,383 $4.9M Add +74.9%
SCHB Schwab US Broad Market ETF 1.47% 189,787 $4.5M Add +338.9%
QQQ Invesco QQQ Trust Series 1 1.36% 7,591 $4.2M Add +0.5%
VDC Vanguard Consumer Staple ETF 1.09% 15,401 $3.4M Add +4.6%
VOX Vanguard Communication Servi 1.08% 19,479 $3.3M Add +2.8%
VFH Vanguard Financials ETF 1.06% 25,690 $3.3M Add +2.6%
VIS Vanguard Industrials ETF 1.00% 10,964 $3.1M Add +5.8%
PAYS Paysign Inc. 0.94% 400,969 $2.9M Reduce -0.8%
VHT Vanguard Health Care ETF 0.85% 10,534 $2.6M Add +4.0%
VCR Vanguard Consumer Discre ETF 0.83% 7,030 $2.5M Add +4.6%
GOOGL Alphabet Inc. Class A 0.81% 14,199 $2.5M Add +0.5%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.70% 7,269 $2.1M Reduce -3.3%
CCJ Cameco Corp. 0.56% 23,065 $1.7M Reduce -1.9%
AMZN Amazon.com Inc. 0.55% 7,790 $1.7M Add +99.2%
CSCO Cisco Systems Inc. 0.55% 24,343 $1.7M Add +3.8%
XLE SS Energy Select Sector 0.52% 18,706 $1.6M Reduce -37.4%
TSLA Tesla Inc. 0.49% 4,754 $1.5M Reduce -37.3%
GPC Genuine Parts Co. 0.46% 11,483 $1.4M Add +4.9%
VPU Vanguard Utilities ETF 0.41% 7,236 $1.3M Reduce -48.5%
IVV iShares Core S&P 500 ETF 0.40% 1,988 $1.2M No change
COIN Coinbase Global Inc. Class A 0.40% 3,513 $1.2M New
SCHX Schwab US Large-Cap ETF 0.38% 47,301 $1.2M Reduce -2.4%
AAPL Apple Inc. 0.37% 5,600 $1.1M Reduce -4.3%
MSFT Microsoft Corp. 0.37% 2,306 $1.1M Reduce -1.4%
SCHV Schwab US Large-Cap Value 0.36% 40,070 $1.1M Add +1.7%
SNOW Snowflake Inc. 0.35% 4,870 $1.1M Reduce -0.7%
JPM JPMorgan Chase & Co. 0.34% 3,587 $1.0M Reduce -1.1%
OKLO Oklo Inc. 0.31% 17,228 $965K Reduce -1.3%
BABA Alibaba Group Holding-SP ADR 0.30% 8,172 $927K Reduce -1.7%
MOS The Mosaic Co. 0.30% 25,372 $926K Add +0.2%
SOFI Sofi Technologies Inc. 0.29% 49,576 $903K New
PG The Procter & Gamble Co. 0.29% 5,649 $900K Reduce -3.2%
CIEN Ciena Corp. 0.28% 10,690 $869K Add +2.9%
CAVA Cava Group Inc. 0.28% 10,096 $850K New
KR Kroger Co. 0.27% 11,704 $840K Add +3.1%
DE Deere & Co. 0.27% 1,615 $821K Reduce -6.7%
BE Bloom Energy Corp. Class A 0.26% 33,525 $802K Add +7.3%
LYFT LYFT Inc. Class A 0.25% 48,225 $760K New
NOW ServiceNow Inc. 0.24% 732 $753K New
VAW Vanguard Materials ETF 0.24% 3,857 $751K Add +3.2%
BROS Dutch Bros Inc. Class A 0.23% 10,586 $724K New
SCHM Schwab US Mid Cap ETF 0.23% 24,879 $698K Add +0.5%
XOM Exxon Mobil Corp. 0.22% 6,276 $677K Reduce -64.0%
ABT Abbott Laboratories 0.22% 4,962 $675K New
CMI Cummins Inc. 0.22% 2,034 $666K Add +1.2%
BIDU Baidu Inc. - Spon ADR 0.21% 7,610 $653K New
SPGI S&P Global Inc. 0.21% 1,233 $650K No change
SCHF Schwab Intl Equity ETF 0.20% 27,632 $611K Reduce -1.1%
KVUE Kenvue Inc. 0.20% 29,075 $609K Add +0.4%
SCHI Schwab 5-10 Year Corporate B 0.19% 25,325 $576K No change
META Meta Platforms Inc. Class A 0.17% 710 $524K Reduce -6.2%
EMR Emerson Electric Co. 0.17% 3,908 $521K Reduce -14.3%
PRU Prudential Financial Inc. 0.17% 4,833 $519K Reduce -46.7%
RTX RTX Corp. 0.17% 3,481 $508K Add +6.8%
CVX Chevron Corp. 0.16% 3,539 $507K Add +7.6%
TXN Texas Instruments Inc. 0.16% 2,327 $483K Reduce -22.7%
JNJ Johnson & Johnson 0.14% 2,759 $421K Add +15.4%
UNP Union Pacific Corp. 0.14% 1,831 $421K Add +3.7%
SCHO Schwab Short-Term US Treas 0.13% 16,862 $411K No change
PEP Pepsico Inc. 0.13% 3,057 $404K Add +9.8%
CAT Caterpillar Inc. 0.13% 1,037 $403K Reduce -10.3%
SCHZ Schwab US Aggregate Bond ETF 0.13% 16,959 $394K Reduce -4.0%
KO The Coca-Cola Co. 0.12% 5,196 $370K Add +0.2%
SYBT Stock Yards Bancorp Inc. 0.12% 4,643 $368K No change
BRK.B Berkshire Hathaway Inc. Class B 0.12% 744 $361K Add +43.9%
NVDA Nvidia Corp. 0.12% 2,258 $357K Reduce -0.2%
SPY SS SPDR S&P 500 ETF Trust-US 0.12% 576 $356K New
MRK Merck & Co. Inc. 0.11% 4,350 $344K Add +18.7%
ABBV Abbvie Inc. 0.11% 1,850 $343K Reduce -19.0%
MET Metlife Inc. 0.11% 4,151 $334K Reduce -20.4%
MDLZ Mondelez International Inc. Class A 0.11% 4,945 $333K New
ETN Eaton Corp. PLC 0.11% 934 $333K Reduce -26.6%
VTI VG Morningstar TS MKT ETF-US 0.11% 1,081 $330K Add +0.8%
GRMN Garmin Ltd. 0.10% 1,503 $314K Reduce -22.2%
FAST Fastenal Co. 0.10% 7,336 $308K Reduce -12.5%
SNA Snap-on Inc. 0.10% 965 $300K Add +56.7%
VOO Vanguard S&P 500 ETF 0.09% 506 $288K Add +1.6%
AFL Aflac Inc. 0.09% 2,729 $288K Add +26.5%
DUK Duke Energy Corp. 0.09% 2,395 $283K Add +0.0%
TROW T Rowe Price Group Inc. filed as PRICE T ROWE GROUP INC 0.09% 2,924 $282K Reduce -0.7%
V Visa Inc. Class A 0.09% 773 $274K Reduce -3.3%
FITB Fifth Third Bancorp 0.09% 6,651 $274K Reduce -3.2%
PAYX Paychex Inc. 0.09% 1,861 $271K Add +32.8%
UPS United Parcel Service Class B 0.08% 2,533 $256K Add +5.2%
MCD McDonald's Corp. 0.08% 855 $250K Add +0.6%
LOW Lowe's Cos Inc. 0.08% 1,114 $247K Add +9.7%
LLY Eli Lilly & Co. 0.08% 312 $243K No change
BLK BlackRock Inc. 0.07% 218 $229K New
HD Home Depot Inc. 0.07% 614 $225K Add +3.4%
TGT Target Corp. 0.07% 2,252 $222K New
LMT Lockheed Martin Corp. 0.07% 476 $220K New
WMT Walmart Inc. 0.07% 2,214 $216K Reduce -5.5%
GLW Corning Inc. 0.07% 4,088 $215K New
ADM Archer-Daniels-Midland Co. 0.07% 4,068 $215K New
PGX Invesco Preferred ETF 0.04% 12,320 $137K Add +0.7%
OXFORD LANE CAP CORP 0.04% 26,794 $113K No change
WISDOMTREE INVESTMENTS (WT 3.25 06/15/26) 0.01% 23,000 $26K No change

Portfolio Sells Q1 2025 → Q2 2025
GDX Vaneck Gold Miners ETF Sold out 0.00% −0.62
GLD SPDR Gold Shares Reduce -23.4% 1.70% −0.57
XOM Exxon Mobil Corp. Reduce -64.0% 0.22% −0.51
XLE SS Energy Select Sector Reduce -37.4% 0.52% −0.46
VPU Vanguard Utilities ETF Reduce -48.5% 0.41% −0.43
MU Micron Technology Inc. Sold out 0.00% −0.42
DIS The Walt Disney Co. Sold out 0.00% −0.42
ROKU Roku Inc. Sold out 0.00% −0.22
TSLA Tesla Inc. Reduce -37.3% 0.49% −0.20
CF CF Industries Holdings Inc. Sold out 0.00% −0.19
PRU Prudential Financial Inc. Reduce -46.7% 0.17% −0.19
OXY Occidental Petroleum Corp. Sold out 0.00% −0.18
GIS General Mills Inc. Sold out 0.00% −0.10
BABA Alibaba Group Holding-SP ADR Reduce -1.7% 0.30% −0.08
AAAU Goldman Sachs Physical Gold Sold out 0.00% −0.08
AAPL Apple Inc. Reduce -4.3% 0.37% −0.08
PFE Pfizer Inc. Sold out 0.00% −0.07
K Kellanova Sold out 0.00% −0.07
PG The Procter & Gamble Co. Reduce -3.2% 0.29% −0.06
ABBV Abbvie Inc. Reduce -19.0% 0.11% −0.06
GRMN Garmin Ltd. Reduce -22.2% 0.10% −0.05
MET Metlife Inc. Reduce -20.4% 0.11% −0.04
TXN Texas Instruments Inc. Reduce -22.7% 0.16% −0.03
DE Deere & Co. Reduce -6.7% 0.27% −0.02
SCHZ Schwab US Aggregate Bond ETF Reduce -4.0% 0.13% −0.02
FAST Fastenal Co. Reduce -12.5% 0.10% −0.01
ETN Eaton Corp. PLC Reduce -26.6% 0.11% −0.01
V Visa Inc. Class A Reduce -3.3% 0.09% −0.01
EMR Emerson Electric Co. Reduce -14.3% 0.17% −0.01
FITB Fifth Third Bancorp Reduce -3.2% 0.09% −0.01
TROW T Rowe Price Group Inc. Reduce -0.7% 0.09% −0.00
CAT Caterpillar Inc. Reduce -10.3% 0.13% −0.00
WMT Walmart Inc. Reduce -5.5% 0.07% −0.00
SCHX Schwab US Large-Cap ETF Reduce -2.4% 0.38% −0.00
SCHF Schwab Intl Equity ETF Reduce -1.1% 0.20% +0.00
META Meta Platforms Inc. Class A Reduce -6.2% 0.17% +0.02
JPM JPMorgan Chase & Co. Reduce -1.1% 0.34% +0.03
NVDA Nvidia Corp. Reduce -0.2% 0.12% +0.03
IBM Intl Business Machines Corp. Reduce -3.3% 0.70% +0.04
MSFT Microsoft Corp. Reduce -1.4% 0.37% +0.06
VEA Vanguard Ftse Developed ETF Reduce -0.6% 2.53% +0.08
SNOW Snowflake Inc. Reduce -0.7% 0.35% +0.10
OKLO Oklo Inc. Reduce -1.3% 0.31% +0.18
CCJ Cameco Corp. Reduce -1.9% 0.56% +0.22
PAYS Paysign Inc. Reduce -0.8% 0.94% +0.64

Portfolio Buys Q1 2025 → Q2 2025
SCHA Schwab US Small-Cap ETF Add +23.5% 6.69% +1.27
SCHB Schwab US Broad Market ETF Add +338.9% 1.47% +1.14
TLT iShares 20+ Year Treasury BD Add +74.9% 1.59% +0.57
COIN Coinbase Global Inc. Class A New 0.40% +0.40
AMZN Amazon.com Inc. Add +99.2% 0.55% +0.29
SOFI Sofi Technologies Inc. New 0.29% +0.29
CAVA Cava Group Inc. New 0.28% +0.28
LYFT LYFT Inc. Class A New 0.25% +0.25
NOW ServiceNow Inc. New 0.24% +0.24
BROS Dutch Bros Inc. Class A New 0.23% +0.23
ABT Abbott Laboratories New 0.22% +0.22
BIDU Baidu Inc. - Spon ADR New 0.21% +0.21
VGT Vanguard Info Tech ETF Add +0.1% 1.64% +0.19
QQQ Invesco QQQ Trust Series 1 Add +0.5% 1.36% +0.12
SPY SS SPDR S&P 500 ETF Trust-US New 0.12% +0.12
MDLZ Mondelez International Inc. Class A New 0.11% +0.11
VIS Vanguard Industrials ETF Add +5.8% 1.00% +0.10
VOX Vanguard Communication Servi Add +2.8% 1.08% +0.09
BLK BlackRock Inc. New 0.07% +0.07
TGT Target Corp. New 0.07% +0.07
LMT Lockheed Martin Corp. New 0.07% +0.07
GLW Corning Inc. New 0.07% +0.07
ADM Archer-Daniels-Midland Co. New 0.07% +0.07
CIEN Ciena Corp. Add +2.9% 0.28% +0.06
MOS The Mosaic Co. Add +0.2% 0.30% +0.06
VCR Vanguard Consumer Discre ETF Add +4.6% 0.83% +0.06
GOOGL Alphabet Inc. Class A Add +0.5% 0.81% +0.05
BE Bloom Energy Corp. Class A Add +7.3% 0.26% +0.04
CSCO Cisco Systems Inc. Add +3.8% 0.55% +0.04
SCHE Schwab Emrg Mrkts Eqty ETF Add +1.3% 1.63% +0.04
VWO Vanguard Ftse Emerging Marke Add +0.3% 2.38% +0.03
SNA Snap-on Inc. Add +56.7% 0.10% +0.02
BRK.B Berkshire Hathaway Inc. Class B Add +43.9% 0.12% +0.02
RTX RTX Corp. Add +6.8% 0.17% +0.01
VFH Vanguard Financials ETF Add +2.6% 1.06% +0.01
PAYX Paychex Inc. Add +32.8% 0.09% +0.01
AFL Aflac Inc. Add +26.5% 0.09% +0.01
VOO Vanguard S&P 500 ETF Add +1.6% 0.09% +0.00
VTI VG Morningstar TS MKT ETF-US Add +0.8% 0.11% +0.00
KR Kroger Co. Add +3.1% 0.27% +0.00
SCHM Schwab US Mid Cap ETF Add +0.5% 0.23% −0.00
JNJ Johnson & Johnson Add +15.4% 0.14% −0.00
LOW Lowe's Cos Inc. Add +9.7% 0.08% −0.00
HD Home Depot Inc. Add +3.4% 0.07% −0.00
PGX Invesco Preferred ETF Add +0.7% 0.04% −0.00
MRK Merck & Co. Inc. Add +18.7% 0.11% −0.00
VAW Vanguard Materials ETF Add +3.2% 0.24% −0.00
CMI Cummins Inc. Add +1.2% 0.22% −0.00
GPC Genuine Parts Co. Add +4.9% 0.46% −0.01
SCHV Schwab US Large-Cap Value Add +1.7% 0.36% −0.01

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 116$368.8MBND, RSP, IEF, LQD, SCHA
Q1 2026 114$343.3MBND, RSP, IEF, LQD, SCHD
Q4 2025 109$333.8MBND, RSP, LQD, IEF, SCHA
Q3 2025 114$333.8MBND, RSP, LQD, IEF, SCHA
Q2 2025 108$308.0MBND, RSP, LQD, SCHA, SCHD
Q1 2025 103$284.9MBND, RSP, LQD, SCHD, IEF
Q4 2024 108$282.9MBND, RSP, LQD, SCHD, SCHA
Q3 2024 107$274.8MBND, RSP, LQD, SCHD, SCHA
Q2 2024Amended 102$246.0MBND, RSP, LQD, SCHD, SCHA
Q1 2024Amended 106$242.8MBND, RSP, LQD, SCHD, SCHA