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BALLAST ADVISORS LLC — 13F Holdings & Portfolio

CIK 1803415 · latest 13F-HR filed 2026-11-12

Backtest portfolio

BALLAST ADVISORS LLC manages $489.7M in 13F-reported U.S. long-equity assets across 215 reported positions as of its 2026-09-30 13F-HR filing. Its largest disclosed positions are SCHV (7.76%), SCHX (7.02%), JBND (6.89%). Quarter over quarter (versus its 2026-06-30 filing) the fund opened 30 new positions and exited 12; 43 existing positions rose in reported value and 64 fell.

AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.

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AUM
$489.7M

Long-equity book

Holdings
215

Distinct positions

Period
2026-09-30

Filed 2026-11-12

Q/Q Activity
+30 / −12 / ↑43 / ↓64

vs 2026-06-30

Portfolio charts

Latest quarter's book, what changed, and how the portfolio has evolved across filings.

Portfolio map

Q3 26
SCHV7.8% · -3%SCHX7.0% · -9%JBND6.9% · newSCHG6.5% · -4%SCHF6.4% · -4%SCHO6.3% · +49%AAPL5.2% · -4%JAAA5.0% · +258%VTIP2.6% · +87%MSFT2.6% · -5%JPM2.4% · -11%TSM2.3% · +1%EPD2.1% · -6%SCHE2.0% · +1%SCHB1.7% · +1%NVDA1.5% · -0%JCPB1.4% · newAGG1.3% · -69%BRK.B1.3% · -1%VMBS1.3% · +106%SCHA1.2% · -1%TCAF1.1% · +53%AMZN1.0% · -3%GOOGL1.0% · -1%SGOV0.8% · +357%UBER0.7% · -24%V0.6% · +0%META0.6% · +1%SCHH0.6% · +1%SCHZ0.5% · +3%SLB0.5% · -28%IWM0.5% · -0%VWOB0.4% · +2%NXPI0.4% · +0%COST0.4% · 0%DTCR0.4% · newIQLT0.4% · newBX0.4% · -8%IGF0.4% · +10138%SPDW0.4% · -11%ECL0.4% · -1%GOOG0.3% · -10%TSLA0.3% · -1%IWF0.3% · -0%IVV0.3% · +8%JIVE0.3% · newMUFG0.3% · 0%TMO0.3% · -5%KO0.3% · -1%MCO0.3% · -4%GRID0.3% · newRSP0.3% · newITW0.3% · -2%CGIC0.2% · +67%NTIC0.2% · -6%SPY0.2% · +0%AVUV0.2% · newSYK0.2% · -3%BCI0.2% · newXLV0.2% · +1261%

Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.

Sector mix

% of 13F value

Sectors from each company's SIC code; funds and ETFs grouped separately.

Biggest buys and sells

Q2 26 → Q3 26

Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.

13F assets and positions

5 quarters

Total reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.

Top positions over time

reported value

The eight largest current positions, valued at each quarter end.

Concentration

top 10 = 56.3%

Cumulative share of the portfolio held in the largest N positions.

Firm Profile & Key People

As of the firm’s regulatory filing dated Jul 14, 2026.

Assets Under Management
$751.5M
Discretionary
$699.8M
Employees
12
Accounts
1,888
Address
400 EAST VINE ST
SUITE 400
LEXINGTON, KY 40507
Phone
(859) 226-0625
Website
Name Title / Status Ownership Type
BOARDMAN, JOHN, VALENTINE ControlPRESIDENT
since Jan 2008
50–75%Individual
BURTON, BRIAN, TODD ControlTREASURER, DIRECTOR OF PORTFOLIO STRATEGY
since Jan 2018
5–10%Individual
HAMILTON, CAMERON, K ControlSECRETARY, DIRECTOR OF FINANCIAL PLANNING
since Jan 2018
5–10%Individual
Lehmann, Jeffrey, Edmund ControlCHIEF COMPLIANCE OFFICER
since Aug 2020
Less than 5%Individual
REYNOLDS, ANDREW, JOSEPH ControlVICE PRESIDENT
since Mar 2010
25–50%Individual
Ownership & leadership changes · 4 filings with changes since Apr 16, 2014

From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.

Mar 14, 2023 filing
  • ChangedBURTON, BRIAN, TODD · now a control person
  • ChangedHAMILTON, CAMERON, K · now a control person
Sep 11, 2020 filing
  • No longer listedCarroll, Billy, Joe · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Aug 2017
  • AddedLehmann, Jeffrey, Edmund · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Feb 26, 2018 filing
  • AddedBURTON, BRIAN, TODD · TREASURER, DIRECTOR OF PORTFOLIO STRATEGY · 5–10%
  • AddedHAMILTON, CAMERON, K · SECRETARY, DIRECTOR OF FINANCIAL PLANNING · 5–10%
Sep 29, 2017 filing
  • AddedCarroll, Billy, Joe · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
  • ChangedBOARDMAN, JOHN, VALENTINE · title PRESIDENT/CHIEF COMPLIANCE OFFICER → PRESIDENT
Apr 16, 2014 filing (earliest on record)
  • ListedBOARDMAN, JOHN, VALENTINE · PRESIDENT/CHIEF COMPLIANCE OFFICER · 50–75% · control person
  • ListedREYNOLDS, ANDREW, JOSEPH · VICE PRESIDENT · 25–50% · control person

Quarter-over-quarter changes

Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.

BALLAST ADVISORS LLC Holdings (2026-09-30)

Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).

# Issuer Symbol CUSIP Value Weight Shares Type
1 SCHWAB STRATEGIC TR SCHV 808524409 $38.0M 7.76% 1,141,451 SH
2 SCHWAB STRATEGIC TR SCHX 808524201 $34.4M 7.02% 1,145,179 SH
3 J P MORGAN EXCHANGE TRADED F JBND 46654Q716 $33.7M 6.89% 659,720 SH
4 SCHWAB STRATEGIC TR SCHG 808524300 $31.6M 6.46% 880,216 SH
5 SCHWAB STRATEGIC TR SCHF 808524805 $31.5M 6.44% 1,147,227 SH
6 SCHWAB STRATEGIC TR SCHO 808524862 $30.9M 6.31% 1,294,664 SH
7 APPLE INC AAPL 037833100 $25.5M 5.20% 76,507 SH
8 JANUS DETROIT STR TR JAAA 47103U845 $24.6M 5.01% 486,516 SH
9 VANGUARD MALVERN FDS VTIP 922020805 $12.9M 2.64% 262,803 SH
10 MICROSOFT CORP MSFT 594918104 $12.7M 2.59% 24,698 SH
11 JPMORGAN CHASE & CO JPM 46625H100 $11.8M 2.40% 35,582 SH
12 TAIWAN SEMICONDUCTOR MANUFAC TSM 874039100 $11.2M 2.29% 24,626 SH
13 ENTERPRISE PRODS PARTNERS L EPD 293792107 $10.3M 2.11% 290,623 SH
14 SCHWAB STRATEGIC TR SCHE 808524706 $9.9M 2.02% 271,431 SH
15 SCHWAB STRATEGIC TR SCHB 808524102 $8.4M 1.71% 284,970 SH
16 NVIDIA CORPORATION NVDA 67066G104 $7.5M 1.52% 32,693 SH
17 J P MORGAN EXCHANGE TRADED F JCPB 46641Q670 $7.0M 1.42% 155,429 SH
18 ISHARES TR AGG 464287226 $6.3M 1.28% 66,382 SH
19 BERKSHIRE HATHAWAY INC DEL BRK.B 084670702 $6.2M 1.27% 12,461 SH
20 VANGUARD SCOTTSDALE FDS VMBS 92206C771 $6.1M 1.25% 138,371 SH
21 SCHWAB STRATEGIC TR SCHA 808524607 $6.0M 1.22% 183,379 SH
22 T ROWE PRICE EXCHANGE-TRADED TCAF 87283Q867 $5.3M 1.07% 124,531 SH
23 AMAZON COM INC AMZN 023135106 $5.1M 1.04% 20,365 SH
24 ALPHABET INC GOOGL 02079K305 $4.9M 1.01% 14,360 SH
25 ISHARES TR SGOV 46436E718 $4.0M 0.81% 39,504 SH
26 UBER TECHNOLOGIES INC UBER 90353T100 $3.3M 0.68% 48,651 SH
27 VISA INC V 92826C839 $3.1M 0.64% 8,657 SH
28 META PLATFORMS INC META 30303M102 $2.9M 0.59% 3,982 SH
29 SCHWAB STRATEGIC TR SCHH 808524847 $2.8M 0.57% 125,643 SH
30 SCHWAB STRATEGIC TR SCHZ 808524839 $2.6M 0.54% 119,025 SH
31 SLB LIMITED SLB 806857108 $2.6M 0.53% 52,872 SH
32 ISHARES TR IWM 464287655 $2.2M 0.46% 8,043 SH
33 VANGUARD WHITEHALL FDS VWOB 921946885 $2.2M 0.44% 34,469 SH
34 NXP SEMICONDUCTORS N V NXPI N6596X109 $2.2M 0.44% 9,136 SH
35 COSTCO WHOLESALE CORPORATION COST 22160K105 $2.2M 0.44% 2,371 SH
36 GLOBAL X FDS DTCR 37954Y236 $2.1M 0.44% 78,908 SH
37 ISHARES TR IQLT 46434V456 $2.0M 0.41% 41,071 SH
38 BLACKSTONE INC BX 09260D107 $1.9M 0.39% 17,000 SH
39 ISHARES TR IGF 464288372 $1.9M 0.39% 30,714 SH
40 SPDR INDEX SHS FDS SPDW 78463X889 $1.9M 0.39% 37,550 SH
41 ECOLAB INC ECL 278865100 $1.8M 0.36% 6,419 SH
42 ALPHABET INC GOOG 02079K107 $1.7M 0.34% 4,877 SH
43 TESLA INC TSLA 88160R101 $1.6M 0.33% 4,605 SH
44 ISHARES TR IWF 464287614 $1.6M 0.33% 12,933 SH
45 ISHARES TR IVV 464287200 $1.5M 0.32% 2,018 SH
46 J P MORGAN EXCHANGE TRADED F JIVE 46654Q757 $1.5M 0.32% 16,212 SH
47 MITSUBISHI UFJ FINANCIAL GRO MUFG 606822104 $1.5M 0.30% 63,069 SH
48 THERMO FISHER SCIENTIFIC INC TMO 883556102 $1.4M 0.29% 2,133 SH
49 COCA COLA CO KO 191216100 $1.4M 0.29% 16,495 SH
50 MOODYS CORP MCO 615369105 $1.4M 0.28% 2,987 SH
Filing History
Period Filed AUM Holdings Accession
2026-09-30 2026-11-12 $489.7M 215 0001398344-26-019891
2026-06-30 2026-08-12 $419.7M 197 0001398344-26-014147
2026-03-31 2026-05-13 $343.8M 394 0001803415-26-000002
2026-03-31 2026-06-23 $343.6M 401 0001803415-26-000003
2025-12-31 2026-02-03 $362.5M 175 0001398344-26-001934
2025-09-30 2025-11-12 $363.1M 180 0001398344-25-020738
Filer Information
Address
683 BIELENBERG DRIVE
SUITE 208
WOODBURY, MN 55125-1705
Phone
(651) 478-4644
Filing Manager
BALLAST ADVISORS LLC
WOODBURY, MN
Signatory
William H. Speacht
CCO