Ballast, Inc.

RIA/Wealth

Ballast, Inc. is a RIA/Wealth based in West Des Moines, IA led by John Valentine Boardman, reporting $625.2M in AUM as of Q3 2025 with 67% ETF concentration and 55% concentrated in top 10 holdings.

PresidentJohn Valentine Boardman

Portfolio Value: $410.7M
Positions: 132
Top Holding: VB at 10.37%
Last Reported: Q3 2025

Address1200 Office Plaza Drive, West Des Moines, IA, 50266, United States

Top Holdings

Largest long holdings in Ballast, Inc.'s portfolio (55% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Vanguard Small-Cap ETF VB	ETF ETF	$42.6M	10.37%	+$971.1K Bought	— 167.4K shares	Q4 2017 Held for 7y 11m
2 Vanguard Mid-Cap Fund VO	ETF ETF	$40.1M	9.77%	+$774.3K Bought	— 136.7K shares	Q4 2017 Held for 7y 11m
3 SPHQ Invesco S&P 500 Quality ETF SPHQ	ETF ETF	$26.6M	6.47%	+$971.8K Bought	— 362.7K shares	Q4 2017 Held for 7y 11m
4 Pacer US Cash Cows 100 COWZ	ETF ETF	$19.0M	4.63%	+$616.8K Bought	— 330.8K shares	Q2 2022 Held for 3y 5m
5 Vanguard FTSE All-World Ex-US ETF VEU	ETF ETF	$17.8M	4.33%	+$175.9K Bought	— 249.3K shares	Q4 2017 Held for 7y 11m
6 Invesco S&P 500 Equal Weight ETF RSP	ETF ETF	$17.4M	4.24%	+$591.5K Bought	— 91.7K shares	Q4 2021 Held for 3y 11m
7 iShares 1-3 Year Treasury Bond SHY	ETF ETF	$17.0M	4.14%	+$885.4K Bought	— 205.1K shares	Q4 2022 Held for 2y 11m
8 Vanguard High Dividend Yield VYM	ETF ETF	$16.9M	4.11%	+$464.6K Bought	— 119.7K shares	Q4 2017 Held for 7y 11m
9 Invesco S&P 500 Low Volatility SPLV	ETF ETF	$15.1M	3.67%	+$482.3K Bought	— 205.0K shares	Q4 2017 Held for 7y 11m
10 Apple AAPL	Consumer Electronics Technology	$13.6M	3.30%	-$93.4K Sold	0.00% 53.3K shares	Q4 2017 Held for 7y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Ballast, Inc.'s latest filing

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Market Value

$410.7M

Prior: $556.4M

Q/Q Change

-26.19%

-$145.7M

Net Flows % of MV

-41.24%

Turnover Ratio

22.72%

New Purchases

3 stocks

$460.9K

Added To

27 stocks

+$8.0M

Sold Out Of

116 stocks

$169.9M

Reduced Holdings

52 stocks

-$7.9M

Increased Positions

Position	Shares Δ	Change
1 Altria Group MO	New	0 → 3.1K +$203.3K
2 Linde LIN	New	0 → 424.0 +$201.4K
3 Ranpak Holdings PACK	New	0 → 10.0K +$56.2K
4 iShares iBoxx $ Investment Grade Corporate Bond LQD	+6.35%	17.6K → 18.7K +$124.4K
5 Vanguard Information Technology VGT	+6.15%	5.2K → 5.5K +$238.2K

Decreased Positions

Position	Shares Δ	Change
1 VanEck Semiconductor SMH	Sold	36.7K → 0 −$10.2M
2 ProShares S&P 500 Dividend Aristocrats NOBL	Sold	81.3K → 0 −$8.2M
3 Schwab U.S. Broad Market SCHB	Sold	327.4K → 0 −$7.8M
4 Schwab U.S. Large-Cap Growth SCHG	Sold	239.3K → 0 −$7.0M
5 Invesco S&P 500 Equal Weight Technology RSPT	Sold	158.8K → 0 −$6.5M