Steele Capital Management, Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 24, 2025), Steele Capital Management, Inc. reported 82 stock positions worth $2.3 billion. Its top holding was iShares Core S&P 500 ETF (IVV) at 11.1% of the portfolio, followed by Schwab Fndmntl US LRG Co. ETF (FNDX, 7.1%) and Schwab Intl Equity ETF (SCHF, 6.8%). Compared with Q2 2025, it opened 3 new positions, sold out of 1, added to 28 and reduced 38. The biggest buy was Vanguard Int-Term Corporate (VCIT, shares +75%) and the biggest sale Vanguard S/T Corp. Bond ETF (VCSH, shares −5%).

Most Recent 13F
Q2 2026
Location
DUBUQUE, IA
CIK
0001646695
Portfolio Value
$2.3B (Q3 2025)
SEC Filing
0001646695-25-000005 ↗ filed Oct 24, 2025

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $1.7B Q1 2024 Q2 2024: $1.8B Q2 2024 Q3 2024: $1.9B Q3 2024 Q4 2024: $1.9B Q4 2024 Q1 2025: $1.9B Q1 2025 Q2 2025: $2.1B Q2 2025 Q3 2025: $2.3B $2.3B Q3 2025 Q4 2025: $2.3B Q4 2025 Q1 2026: $2.4B Q1 2026 Q2 2026: $2.7B Q2 2026

Holdings 82 stocks · $2.3B
IVV iShares Core S&P 500 ETF 11.13% 375,050 $251.0M Add +0.4%
FNDX Schwab Fndmntl US LRG Co. ETF 7.06% 6,050,396 $159.1M Reduce -0.2%
SCHF Schwab Intl Equity ETF 6.78% 6,562,236 $152.8M Reduce -2.1%
VOO Vanguard S&P 500 ETF 5.90% 216,604 $132.9M Add +2.9%
QQQ Invesco QQQ Trust Series 1 5.55% 208,391 $125.3M Reduce -0.8%
VEA Vanguard Ftse Developed ETF 5.45% 2,050,950 $122.9M Reduce -3.0%
SCHX Schwab US Large-Cap ETF 4.58% 3,915,580 $103.2M Reduce -0.5%
VWO Vanguard Ftse Emerging Marke 4.32% 1,799,827 $97.5M Reduce -4.9%
VCSH Vanguard S/T Corp. Bond ETF 3.92% 1,105,194 $88.3M Reduce -5.0%
AGG iShares Core U.S. Aggregate 3.90% 877,509 $88.0M Add +8.3%
IJR iShares Core S&P Small-Cap E 3.25% 616,608 $73.3M Reduce -0.6%
SCHA Schwab US Small-Cap ETF 2.80% 2,258,420 $63.1M Reduce -0.9%
FNDA Schwab Fndmntl US SM Co. ETF 2.72% 1,965,455 $61.2M Reduce -3.6%
ILCV iShares Morningstar Value Et 2.65% 663,259 $59.7M Reduce -5.6%
VCIT Vanguard Int-Term Corporate 2.63% 705,022 $59.3M Add +75.4%
BND Vanguard Total Bond Market 1.82% 550,828 $41.0M Add +26.3%
VONG Vanguard Russell 1000 Growth 1.60% 298,725 $36.0M Add +0.4%
RSP Invesco S&P 500 Equal Weight 1.59% 189,509 $35.9M Add +2.5%
AAPL Apple Inc. 1.49% 131,616 $33.5M Reduce -0.7%
SCHD Schwab US DVD Equity ETF 1.42% 1,174,403 $32.1M Reduce -4.0%
JCPB JPMorgan Core Plus Bond ETF 1.09% 519,157 $24.7M Reduce -6.4%
SPYM Ste STR SPDR PT S&P 500 ETF 1.09% 314,031 $24.6M Reduce -3.8%
NVDA Nvidia Corp. 0.99% 119,486 $22.3M Add +0.1%
IUSV iShares Core S&P U.S. Value 0.94% 212,274 $21.2M Reduce -1.3%
ICSH iShares Ultra Short Duration 0.91% 405,431 $20.6M Add +64.5%
MDY State Street SPDR S&P Midcap 0.88% 33,331 $19.9M Reduce -0.5%
VYM Vanguard High DVD Yield ETF 0.82% 131,725 $18.6M Add +7.2%
JEPI JPMorgan Equity Premium Inco 0.80% 317,733 $18.1M Reduce -3.8%
VTV Vanguard Mrngstr Val ETF-Aui 0.78% 93,663 $17.6M Add +15.6%
BRK.B Berkshire Hathaway Inc. Class B 0.75% 33,674 $16.9M Reduce -10.9%
IMCG iShares Morningstar Mid-Cap 0.74% 201,840 $16.7M Add +8.4%
IMCV iShares Morningstar Mid-Cap 0.73% 204,066 $16.4M Add +1.1%
IMCB iShares Morningstar Mid-Cap 0.69% 187,000 $15.5M Add +5.5%
AMZN Amazon.com Inc. 0.64% 65,649 $14.4M Reduce -0.3%
XLE SS Energy Select Sector 0.55% 139,371 $12.5M Reduce -0.5%
ISCV iShares Morningstar Small-Ca 0.55% 184,974 $12.3M Reduce -2.4%
VBR Vngrd Mrngst SL-CP Val ETF-U 0.47% 51,041 $10.7M Reduce -12.9%
SCHE Schwab Emrg Mrkts Eqty ETF 0.44% 297,239 $9.9M Reduce -11.7%
ISCG iShares Morningstar Small-Ca 0.43% 176,783 $9.6M Add +5.6%
AIQ Global X Art Intel & Tech 0.41% 187,115 $9.2M Add +19.6%
IDEV iShares Core MSCI Dev MKTS 0.41% 114,219 $9.2M Reduce -9.3%
XLY SS Consumer Disc Select Sect 0.33% 31,288 $7.5M Add +1.5%
MSFT Microsoft Corp. 0.33% 14,214 $7.4M Reduce -4.1%
SPYI Neos S&P 500 High Income ETF 0.29% 126,005 $6.6M Add +35.7%
SCHG Schwab US Large-Cap Growth 0.27% 190,339 $6.1M Reduce -4.5%
IEMG iShares Core MSCI Emerging 0.22% 74,125 $4.9M Reduce -11.8%
PLTR Palantir Technologies Inc. Class A 0.22% 26,647 $4.9M Add +15.5%
DE Deere & Co. 0.21% 10,470 $4.8M New
SCHM Schwab US Mid Cap ETF 0.19% 147,879 $4.4M No change
SPDW Ste STR SPDR PT DW Eu ETF 0.16% 85,848 $3.7M Reduce -3.8%
ITA iShares U.S. Aerospace & Def 0.15% 16,477 $3.4M Add +43.7%
SCHV Schwab US Large-Cap Value 0.14% 108,084 $3.1M Reduce -3.5%
EQWL Invesco S&P 100 Equal Weight 0.14% 27,418 $3.1M No change
TFI SS SPDR N Ice Muni Bond ETF 0.14% 67,733 $3.1M Reduce -2.0%
ABBV Abbvie Inc. 0.14% 13,180 $3.1M Add +2.3%
NLR Vaneck Urani & Nuclr ETF-Usd 0.13% 21,680 $2.9M Add +83.9%
GOOG Alphabet Inc. Class C 0.11% 10,452 $2.5M Add +0.2%
VTEB Vanguard Tax-Exempt Bond ETF 0.11% 48,705 $2.4M Reduce -6.7%
SPAB SS SPDR P Agg Bond ETF 0.10% 85,555 $2.2M Add +1.5%
IGSB iShares 1-5Y Inv Grade Corp. 0.09% 37,914 $2.0M Reduce -1.0%
XOM Exxon Mobil Corp. 0.08% 15,909 $1.8M Add +0.0%
SGOV iShares 0-3 Month Treasury B 0.07% 14,829 $1.5M Reduce -57.2%
UMBF Umb Financial Corp. 0.07% 12,363 $1.5M New
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.06% 22,763 $1.3M Add +4.1%
TFLO iShares Treasury Floating Ra 0.06% 24,968 $1.3M Add +4.8%
RNST Renasant Corp. 0.06% 33,750 $1.2M No change
DAR Darling Ingredients Inc. 0.05% 37,500 $1.2M No change
IBDQ iShares Ibonds Dec 2025 Term 0.05% 44,491 $1.1M No change
BSCQ Invesco Bulletshares 2026 CB 0.04% 51,150 $1.0M Reduce -3.3%
BAC Bank of America Corp. filed as BANK AMERICA CORP 0.04% 19,199 $990K No change
IBHE iShares Ibonds 2025 H/Y Inc. 0.04% 40,925 $950K No change
XLF SS Financial Select Sector 0.04% 17,160 $924K No change
SPHQ Invesco S&P 500 Quality ETF 0.03% 10,074 $738K Reduce -50.3%
EPD Enterprise Products Partners 0.03% 22,822 $714K No change
IBHF iShares Ibond 2026 HY & Inc. 0.03% 30,303 $709K Reduce -19.8%
IBTF iShares Ibonds Dec 2025 Term 0.02% 21,310 $498K No change
DFUV Dimensional US Marketwide Va 0.02% 10,564 $472K No change
IBDR iShares Ibonds Dec 2026 Term 0.02% 18,876 $459K No change
FSCO FS Credit Opportunities Corp. 0.02% 60,000 $415K No change
T AT&T Inc. 0.02% 14,163 $400K Reduce -3.0%
SOFI Sofi Technologies Inc. 0.01% 10,750 $284K New
F Ford Motor Co. filed as FORD MTR CO 0.01% 21,927 $262K Add +3.1%

Portfolio Sells Q2 2025 → Q3 2025
VCSH Vanguard S/T Corp. Bond ETF Reduce -5.0% 3.92% −0.52
SCHF Schwab Intl Equity ETF Reduce -2.1% 6.78% −0.34
VEA Vanguard Ftse Developed ETF Reduce -3.0% 5.45% −0.33
VWO Vanguard Ftse Emerging Marke Reduce -4.9% 4.32% −0.16
ILCV iShares Morningstar Value Et Reduce -5.6% 2.65% −0.16
JCPB JPMorgan Core Plus Bond ETF Reduce -6.4% 1.09% −0.16
SCHD Schwab US DVD Equity ETF Reduce -4.0% 1.42% −0.13
BRK.B Berkshire Hathaway Inc. Class B Reduce -10.9% 0.75% −0.13
SGOV iShares 0-3 Month Treasury B Reduce -57.2% 0.07% −0.10
JEPI JPMorgan Equity Premium Inco Reduce -3.8% 0.80% −0.10
FNDA Schwab Fndmntl US SM Co. ETF Reduce -3.6% 2.72% −0.09
FNDX Schwab Fndmntl US LRG Co. ETF Reduce -0.2% 7.06% −0.08
VBR Vngrd Mrngst SL-CP Val ETF-U Reduce -12.9% 0.47% −0.08
AMZN Amazon.com Inc. Reduce -0.3% 0.64% −0.05
IDEV iShares Core MSCI Dev MKTS Reduce -9.3% 0.41% −0.05
SPYM Ste STR SPDR PT S&P 500 ETF Reduce -3.8% 1.09% −0.05
SCHE Schwab Emrg Mrkts Eqty ETF Reduce -11.7% 0.44% −0.05
SCHX Schwab US Large-Cap ETF Reduce -0.5% 4.58% −0.04
SPHQ Invesco S&P 500 Quality ETF Reduce -50.3% 0.03% −0.04
IUSV iShares Core S&P U.S. Value Reduce -1.3% 0.94% −0.04
MDY State Street SPDR S&P Midcap Reduce -0.5% 0.88% −0.03
MSFT Microsoft Corp. Reduce -4.1% 0.33% −0.03
IEMG iShares Core MSCI Emerging Reduce -11.8% 0.22% −0.03
XLE SS Energy Select Sector Reduce -0.5% 0.55% −0.02
VTEB Vanguard Tax-Exempt Bond ETF Reduce -6.7% 0.11% −0.01
SCHZ Schwab US Aggregate Bond ETF Sold out 0.00% −0.01
ISCV iShares Morningstar Small-Ca Reduce -2.4% 0.55% −0.01
TFI SS SPDR N Ice Muni Bond ETF Reduce -2.0% 0.14% −0.01
IBHF iShares Ibond 2026 HY & Inc. Reduce -19.8% 0.03% −0.01
SPDW Ste STR SPDR PT DW Eu ETF Reduce -3.8% 0.16% −0.01
QQQ Invesco QQQ Trust Series 1 Reduce -0.8% 5.55% −0.01
SCHG Schwab US Large-Cap Growth Reduce -4.5% 0.27% −0.01
SCHV Schwab US Large-Cap Value Reduce -3.5% 0.14% −0.01
IGSB iShares 1-5Y Inv Grade Corp. Reduce -1.0% 0.09% −0.01
BSCQ Invesco Bulletshares 2026 CB Reduce -3.3% 0.04% −0.01
IJR iShares Core S&P Small-Cap E Reduce -0.6% 3.25% −0.00
T AT&T Inc. Reduce -3.0% 0.02% −0.00
SCHA Schwab US Small-Cap ETF Reduce -0.9% 2.80% +0.03
AAPL Apple Inc. Reduce -0.7% 1.49% +0.18

Portfolio Buys Q2 2025 → Q3 2025
VCIT Vanguard Int-Term Corporate Add +75.4% 2.63% +1.03
ICSH iShares Ultra Short Duration Add +64.5% 0.91% +0.31
BND Vanguard Total Bond Market Add +26.3% 1.82% +0.28
DE Deere & Co. New 0.21% +0.21
VOO Vanguard S&P 500 ETF Add +2.9% 5.90% +0.14
VTV Vanguard Mrngstr Val ETF-Aui Add +15.6% 0.78% +0.09
NVDA Nvidia Corp. Add +0.1% 0.99% +0.08
AIQ Global X Art Intel & Tech Add +19.6% 0.41% +0.08
SPYI Neos S&P 500 High Income ETF Add +35.7% 0.29% +0.07
NLR Vaneck Urani & Nuclr ETF-Usd Add +83.9% 0.13% +0.07
UMBF Umb Financial Corp. New 0.07% +0.07
PLTR Palantir Technologies Inc. Class A Add +15.5% 0.22% +0.06
ITA iShares U.S. Aerospace & Def Add +43.7% 0.15% +0.05
AGG iShares Core U.S. Aggregate Add +8.3% 3.90% +0.04
VYM Vanguard High DVD Yield ETF Add +7.2% 0.82% +0.04
VONG Vanguard Russell 1000 Growth Add +0.4% 1.60% +0.04
ISCG iShares Morningstar Small-Ca Add +5.6% 0.43% +0.03
GOOG Alphabet Inc. Class C Add +0.2% 0.11% +0.02
IMCG iShares Morningstar Mid-Cap Add +8.4% 0.74% +0.02
ABBV Abbvie Inc. Add +2.3% 0.14% +0.02
SOFI Sofi Technologies Inc. New 0.01% +0.01
IMCB iShares Morningstar Mid-Cap Add +5.5% 0.69% +0.01
XLY SS Consumer Disc Select Sect Add +1.5% 0.33% +0.01
IVV iShares Core S&P 500 ETF Add +0.4% 11.13% +0.00
JEPQ JPM Nasdaq Equity Premium Add +4.1% 0.06% +0.00
F Ford Motor Co. Add +3.1% 0.01% +0.00
TFLO iShares Treasury Floating Ra Add +4.8% 0.06% −0.00
XOM Exxon Mobil Corp. Add +0.0% 0.08% −0.00
SPAB SS SPDR P Agg Bond ETF Add +1.5% 0.10% −0.01
IMCV iShares Morningstar Mid-Cap Add +1.1% 0.73% −0.01
RSP Invesco S&P 500 Equal Weight Add +2.5% 1.59% −0.02

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 85$2.7BIVV, FNDX, SCHF, VEA, VOO
Q1 2026 86$2.4BIVV, FNDX, SCHF, VEA, VOO
Q4 2025 79$2.3BIVV, FNDX, SCHF, VOO, VEA
Q3 2025 82$2.3BIVV, FNDX, SCHF, VOO, QQQ
Q2 2025 80$2.1BIVV, FNDX, SCHF, VEA, VOO
Q1 2025 79$1.9BIVV, FNDX, SCHF, VOO, VEA
Q4 2024 77$1.9BIVV, FNDX, SCHF, VOO, QQQ
Q3 2024 75$1.9BIVV, FNDX, SCHF, VOO, VEA
Q2 2024 176$1.8BIVV, SCHF, FNDX, QQQ, SCHX
Q1 2024 176$1.7BIVV, SCHF, FNDX, QQQ, AGG