Intelligent Financial Strategies

EXCELSIOR, MN

$208m in 60 US stocks at the end of 30 June 2026. The top 10 are 81.9% of the money. It changed about 2.7% of the portfolio this quarter.

Value

$208m

Stocks

Top 10 share

81.9%

Turnover

2.7%

What changed this quarter

New

Bought for the first time this quarter.

None this quarter.

Added

Bought more of a stock they already held.

Vanguard Tax-Managed FDSVEA
0.2% of the fund
+34%
Vanguard Intl Equity Index FVEU
0.1% of the fund
+7%

Cut

Sold some of their stake.

VisaV
0.7% of the fund
-3%
HersheyHSY
0.1% of the fund
-21%
Ishares TRKXI
0.1% of the fund
-5%
McDonald'sMCD
<0.1% of the fund
-29%
PepsiCoPEP
<0.1% of the fund
-15%
American Centy ETF TRAVUS
<0.1% of the fund
-69%
Schwab Strategic TRFNDF
<0.1% of the fund
-30%

Sold out

Sold their entire stake.

Schwab Strategic TRFNDA
-100%
Vaneck ETF TrustMOAT
-100%

Holdings

Berkshire HathawayBRK-B
Share
29.0%
Value
$60m
Shares
120,403
Held
Vanguard Index FDSVOO
Share
13.3%
Value
$28m
Shares
40,378
Held
Vanguard Intl Equity Index FVT
Share
11.8%
Value
$24m
Shares
155,814
Held
Vanguard Index FDSVTI
Share
7.6%
Value
$16m
Shares
42,620
Held
Vanguard Star FDSVXUS
Share
5.7%
Value
$12m
Shares
138,507
Held
Vanguard BD Index FDSBND
Share
4.4%
Value
$9m
Shares
123,649
Held
American Centy ETF TRAVGE
Share
3.1%
Value
$6m
Shares
64,521
Held
Berkshire Hathaway INC DELBRK-A
Share
2.5%
Value
$5m
Shares
7
Held
Ishares TRIVV
Share
2.3%
Value
$5m
Shares
6,350
Held
Vanguard Specialized FundsVIG
Share
2.2%
Value
$5m
Shares
19,644
Held
Dimensional ETF TrustDFUV
Share
2.2%
Value
$5m
Shares
83,718
Held
Dimensional ETF TrustDFAC
Share
2.0%
Value
$4m
Shares
94,014
Held
AppleAAPL
Share
1.6%
Value
$3m
Shares
11,750
Held
AlphabetGOOG
Share
1.6%
Value
$3m
Shares
9,339
Held
Vanguard Scottsdale FDSVCSH
Share
1.5%
Value
$3m
Shares
39,017
Held
State STR Spdr S&P Midcap 40MDY
Share
1.2%
Value
$3m
Shares
3,678
Held
MastercardMA
Share
0.8%
Value
$2m
Shares
3,170
Held
VisaV
Share
0.7%
Value
$2m
Shares
4,419
-3%
Ishares TRSGOV
Share
0.7%
Value
$1m
Shares
14,045
Held
MicrosoftMSFT
Share
0.7%
Value
$1m
Shares
3,751
Held
Dimensional ETF TrustDFAX
Share
0.6%
Value
$1m
Shares
35,705
Held
Costco WholesaleCOST
Share
0.5%
Value
$1m
Shares
1,156
Held
RBB Fund TrustFEGE
Share
0.5%
Value
$1m
Shares
20,903
Held
State STR Spdr S&P 500 ETF TSPY
Share
0.4%
Value
$893,745
Shares
1,194
Held
Dimensional ETF TrustDFUS
Share
0.4%
Value
$746,883
Shares
9,115
Held
Union PacificUNP
Share
0.2%
Value
$489,006
Shares
1,798
Held
American Centy ETF TRAVDE
Share
0.2%
Value
$454,005
Shares
5,090
Held
American Centy ETF TRAVDV
Share
0.2%
Value
$440,553
Shares
4,275
Held
Vanguard Tax-Managed FDSVEA
Share
0.2%
Value
$439,665
Shares
6,171
+34%
Vanguard Index FDSVXF
Share
0.2%
Value
$339,231
Shares
1,378
Held
HersheyHSY
Share
0.1%
Value
$295,689
Shares
1,685
-21%
American Centy ETF TRAVUV
Share
0.1%
Value
$279,555
Shares
2,241
Held
Applied MaterialsAMAT
Share
0.1%
Value
$252,327
Shares
349
Held
Amazon.comAMZN
Share
0.1%
Value
$238,340
Shares
1,000
Held
Johnson & JohnsonJNJ
Share
0.1%
Value
$237,464
Shares
935
Held
Vanguard Intl Equity Index FVEU
Share
0.1%
Value
$235,036
Shares
2,806
+7%
Ishares TRKXI
Share
0.1%
Value
$222,313
Shares
3,292
-5%
Ishares TRAOR
Share
0.1%
Value
$220,399
Shares
3,171
Held
McDonald'sMCD
Share
<0.1%
Value
$186,450
Shares
690
-29%
Vanguard Index FDSVO
Share
<0.1%
Value
$160,895
Shares
1,997
Held
Profesionally Managed PortfoAKRE
Share
<0.1%
Value
$149,996
Shares
2,820
Held
CumminsCMI
Share
<0.1%
Value
$139,076
Shares
195
Held
Vanguard Index FDSVV
Share
<0.1%
Value
$118,996
Shares
346
Held
PepsiCoPEP
Share
<0.1%
Value
$90,513
Shares
668
-15%
Philip Morris InternationalPM
Share
<0.1%
Value
$85,719
Shares
470
Held
ExxonMobil HoldingsXOM
Share
<0.1%
Value
$82,032
Shares
600
Held
FastenalFAST
Share
<0.1%
Value
$67,770
Shares
1,411
Held
Sprott Asset Management LPPHYS
Share
<0.1%
Value
$45,798
Shares
1,518
Held
Republic ServicesRSG
Share
<0.1%
Value
$35,371
Shares
166
Held
American Centy ETF TRAVUS
Share
<0.1%
Value
$31,455
Shares
246
-69%
Idexx LaboratoriesIDXX
Share
<0.1%
Value
$26,322
Shares
50
Held
Coca-ColaKO
Share
<0.1%
Value
$26,252
Shares
321
Held
Colgate-PalmoliveCL
Share
<0.1%
Value
$25,070
Shares
273
Held
Schwab Strategic TRFNDF
Share
<0.1%
Value
$23,795
Shares
451
-30%
MetLifeMET
Share
<0.1%
Value
$16,922
Shares
200
Held
Mondelez InternationalMDLZ
Share
<0.1%
Value
$16,335
Shares
280
Held
Ishares TRIWD
Share
<0.1%
Value
$12,122
Shares
50
Held
Prudential FinancialPRU
Share
<0.1%
Value
$10,253
Shares
95
Held
American ExpressAXP
Share
<0.1%
Value
$8,456
Shares
25
Held
Procter & GamblePG
Share
<0.1%
Value
$147
Shares
1
Held

Company	Share of fund	Value	Shares	Change
Berkshire HathawayBRK-B	29.0%	$60m	120,403	Held
Vanguard Index FDSVOO	13.3%	$28m	40,378	Held
Vanguard Intl Equity Index FVT	11.8%	$24m	155,814	Held
Vanguard Index FDSVTI	7.6%	$16m	42,620	Held
Vanguard Star FDSVXUS	5.7%	$12m	138,507	Held
Vanguard BD Index FDSBND	4.4%	$9m	123,649	Held
American Centy ETF TRAVGE	3.1%	$6m	64,521	Held
Berkshire Hathaway INC DELBRK-A	2.5%	$5m	7	Held
Ishares TRIVV	2.3%	$5m	6,350	Held
Vanguard Specialized FundsVIG	2.2%	$5m	19,644	Held
Dimensional ETF TrustDFUV	2.2%	$5m	83,718	Held
Dimensional ETF TrustDFAC	2.0%	$4m	94,014	Held
AppleAAPL	1.6%	$3m	11,750	Held
AlphabetGOOG	1.6%	$3m	9,339	Held
Vanguard Scottsdale FDSVCSH	1.5%	$3m	39,017	Held
State STR Spdr S&P Midcap 40MDY	1.2%	$3m	3,678	Held
MastercardMA	0.8%	$2m	3,170	Held
VisaV	0.7%	$2m	4,419	-3%
Ishares TRSGOV	0.7%	$1m	14,045	Held
MicrosoftMSFT	0.7%	$1m	3,751	Held
Dimensional ETF TrustDFAX	0.6%	$1m	35,705	Held
Costco WholesaleCOST	0.5%	$1m	1,156	Held
RBB Fund TrustFEGE	0.5%	$1m	20,903	Held
State STR Spdr S&P 500 ETF TSPY	0.4%	$893,745	1,194	Held
Dimensional ETF TrustDFUS	0.4%	$746,883	9,115	Held
Union PacificUNP	0.2%	$489,006	1,798	Held
American Centy ETF TRAVDE	0.2%	$454,005	5,090	Held
American Centy ETF TRAVDV	0.2%	$440,553	4,275	Held
Vanguard Tax-Managed FDSVEA	0.2%	$439,665	6,171	+34%
Vanguard Index FDSVXF	0.2%	$339,231	1,378	Held
HersheyHSY	0.1%	$295,689	1,685	-21%
American Centy ETF TRAVUV	0.1%	$279,555	2,241	Held
Applied MaterialsAMAT	0.1%	$252,327	349	Held
Amazon.comAMZN	0.1%	$238,340	1,000	Held
Johnson & JohnsonJNJ	0.1%	$237,464	935	Held
Vanguard Intl Equity Index FVEU	0.1%	$235,036	2,806	+7%
Ishares TRKXI	0.1%	$222,313	3,292	-5%
Ishares TRAOR	0.1%	$220,399	3,171	Held
McDonald'sMCD	<0.1%	$186,450	690	-29%
Vanguard Index FDSVO	<0.1%	$160,895	1,997	Held
Profesionally Managed PortfoAKRE	<0.1%	$149,996	2,820	Held
CumminsCMI	<0.1%	$139,076	195	Held
Vanguard Index FDSVV	<0.1%	$118,996	346	Held
PepsiCoPEP	<0.1%	$90,513	668	-15%
Philip Morris InternationalPM	<0.1%	$85,719	470	Held
ExxonMobil HoldingsXOM	<0.1%	$82,032	600	Held
FastenalFAST	<0.1%	$67,770	1,411	Held
Sprott Asset Management LPPHYS	<0.1%	$45,798	1,518	Held
Republic ServicesRSG	<0.1%	$35,371	166	Held
American Centy ETF TRAVUS	<0.1%	$31,455	246	-69%
Idexx LaboratoriesIDXX	<0.1%	$26,322	50	Held
Coca-ColaKO	<0.1%	$26,252	321	Held
Colgate-PalmoliveCL	<0.1%	$25,070	273	Held
Schwab Strategic TRFNDF	<0.1%	$23,795	451	-30%
MetLifeMET	<0.1%	$16,922	200	Held
Mondelez InternationalMDLZ	<0.1%	$16,335	280	Held
Ishares TRIWD	<0.1%	$12,122	50	Held
Prudential FinancialPRU	<0.1%	$10,253	95	Held
American ExpressAXP	<0.1%	$8,456	25	Held
Procter & GamblePG	<0.1%	$147	1	Held

Over time and by industry

Value over time

Jun '25

Dec '25

Jun '26

Value is up 10.3% since 30 June 2025.

Where the money is

Financial services30.5%

Technology2.4%

Media & telecom1.6%

Everyday goods0.8%

Industrials0.4%

Retail & consumer0.2%

Health care0.1%

Energy0.0%

Other64.0%

From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.