Affiance Financial, LLC

In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 1, 2024), Affiance Financial, LLC reported 96 stock positions worth $383.2 million. Its top holding was Vanguard S&P 500 ETF (VOO) at 20.4% of the portfolio, followed by iShares Core U.S. Aggregate (AGG, 13.7%) and VG Morningstar TS MKT ETF-US (VTI, 11.0%). Compared with Q1 2024, it opened 2 new positions, sold out of 1, added to 44 and reduced 24. The biggest buy was Vanguard S&P 500 ETF (VOO, shares +2%) and the biggest sale Unitedhealth (UNH, shares −25%).

Most Recent 13F
Q2 2026
Location
ST. LOUIS PARK, MN
CIK
0001723681
Portfolio Value
$383.2M (Q2 2024)
SEC Filing
0001085146-24-003421 ↗ filed Aug 1, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $369.1M Q1 2024 Q2 2024: $383.2M $383.2M Q2 2024 Q3 2024: $412.0M Q3 2024 Q4 2024: $418.1M Q4 2024 Q1 2025: $429.3M Q1 2025 Q2 2025: $492.2M Q2 2025 Q3 2025: $549.2M Q3 2025 Q4 2025: $621.3M Q4 2025 Q1 2026: $616.6M Q1 2026 Q2 2026: $694.8M Q2 2026

Holdings 96 stocks · $383.2M
VOO Vanguard S&P 500 ETF 20.36% 156,001 $78.0M Add +1.9%
AGG iShares Core U.S. Aggregate 13.70% 540,643 $52.5M Add +3.4%
VTI VG Morningstar TS MKT ETF-US 11.01% 157,654 $42.2M Add +1.9%
VEA Vanguard Ftse Developed ETF 5.98% 463,997 $22.9M Add +3.3%
IEFA iShares Core MSCI Eafe ETF 4.06% 213,926 $15.5M Add +6.1%
IJH iShares Core S&P Midcap ETF 2.96% 193,896 $11.3M Reduce -0.8%
VXF Vanguard Extended Market ETF 2.91% 65,981 $11.1M Add +5.4%
AAPL Apple Inc. 2.82% 51,260 $10.8M Reduce -0.1%
IWF iShares Russell 1000 Growth 2.61% 27,482 $10.0M Add +4.4%
VTV Vanguard Mrngstr Val ETF-Aui 2.24% 53,491 $8.6M Add +1.6%
VWO Vanguard Ftse Emerging Marke 1.89% 165,294 $7.2M Add +2.7%
IVV iShares Core S&P 500 ETF 1.48% 10,359 $5.7M Add +0.3%
MSFT Microsoft Corp. 1.42% 12,185 $5.4M Add +4.4%
XLV SS Health Care Select Sector 1.40% 36,741 $5.4M Add +4.4%
SPEM State Street SP PTF Em ETF 1.35% 137,100 $5.2M Add +6.8%
RSPS Invesco S&P 500 Equal Weight 1.28% 160,860 $4.9M Reduce -2.4%
IJR iShares Core S&P Small-Cap E 1.06% 38,201 $4.1M Add +0.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.92% 6,459 $3.5M Add +18.1%
EFG iShares MSCI Eafe Growth ETF 0.87% 32,599 $3.3M Reduce -4.7%
UNH Unitedhealth Group Inc. 0.79% 5,968 $3.0M Reduce -25.0%
CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE 0.76% 87,752 $2.9M Add +2.8%
VT Vanguard Tot World STK ETF 0.74% 25,254 $2.8M Reduce -1.2%
META Meta Platforms Inc. Class A 0.70% 5,317 $2.7M No change
GOOG Alphabet Inc. Class C 0.69% 14,370 $2.6M Reduce -0.5%
BOND PIMCO Active Bond Exchange-T 0.66% 27,948 $2.5M Reduce -1.2%
VIG Vanguard Dividend Apprec ETF 0.65% 13,598 $2.5M Reduce -2.2%
CGCP Cap Group Core Plus Income 0.63% 109,389 $2.4M Add +7.5%
AMZN Amazon.com Inc. 0.54% 10,750 $2.1M Add +0.6%
ESGD iShares Trust iShares ESG Aw 0.52% 25,207 $2.0M Add +9.9%
TGT Target Corp. 0.48% 12,479 $1.8M Reduce -0.5%
IWD iShares Russell 1000 Value E 0.47% 10,417 $1.8M Add +0.1%
XLP SS Consumer Staples Sel Sect 0.47% 23,413 $1.8M Add +2.2%
MCD McDonald's Corp. 0.46% 6,933 $1.8M Add +3.0%
LLY Eli Lilly & Co. 0.45% 1,925 $1.7M Add +4.6%
GOOGL Alphabet Inc. Class A 0.45% 9,438 $1.7M Add +0.9%
BRK.B Berkshire Hathaway Inc. Class B 0.43% 4,081 $1.7M Add +6.4%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.43% 6,772 $1.6M Add +3.1%
ESGE iShares Inc. iShares ESG Awar 0.42% 48,521 $1.6M Add +13.7%
VGT Vanguard Info Tech ETF 0.40% 2,675 $1.5M Add +5.6%
JPM JPMorgan Chase & Co. 0.39% 7,448 $1.5M Add +4.2%
NVDA Nvidia Corp. 0.38% 11,760 $1.5M Add +7.0%
TECH Bio-Techne Corp. 0.37% 19,831 $1.4M Reduce -2.9%
EFA iShares MSCI Eafe ETF 0.35% 17,073 $1.3M No change
QQQ Invesco QQQ Trust Series 1 0.35% 2,772 $1.3M Add +1.8%
EEM iShares MSCI Emerging Market 0.31% 28,175 $1.2M Add +0.3%
IXC iShares Global Energy ETF 0.28% 25,997 $1.1M Reduce -2.1%
MMM 3M Co. 0.27% 10,181 $1.0M Reduce -4.6%
JPST JPMorgan Ultra-Short Income 0.25% 19,143 $966K Reduce -5.2%
MAR Marriott International Class A 0.24% 3,765 $910K Add +2.4%
GIS General Mills Inc. 0.24% 14,315 $906K No change
BNDX Vanguard Total Intl Bond ETF 0.22% 17,570 $855K Reduce -4.0%
XJH Ishare ESG SS S&P Midcap ETF 0.22% 21,292 $843K Add +7.6%
IYW iShares Ustechnology ETF 0.21% 5,396 $812K Reduce -0.7%
JNJ Johnson & Johnson 0.21% 5,548 $811K Reduce -0.7%
IWP iShares Russell Mid-Cap Grow 0.21% 7,222 $797K No change
NOW ServiceNow Inc. 0.21% 1,002 $788K No change
TSLA Tesla Inc. 0.20% 3,905 $773K Add +7.4%
HON Honeywell International Inc. 0.19% 3,328 $711K No change
PRVA Privia Health Group Inc. 0.16% 34,742 $604K No change
PRU Prudential Financial Inc. 0.14% 4,675 $548K Add +0.1%
ORCL Oracle Corp. 0.14% 3,804 $537K Add +0.3%
ABBV Abbvie Inc. 0.14% 3,019 $518K No change
IVOO Vanguard S&P Mid-Cap 400 ETF 0.13% 5,030 $499K No change
ECL Ecolab Inc. 0.13% 2,089 $497K Reduce -17.7%
COST Costco Wholesale Corp. 0.13% 581 $495K Add +5.4%
LMT Lockheed Martin Corp. 0.12% 1,000 $467K No change
DEO Diageo PLC-Sponsored ADR 0.12% 3,702 $467K No change
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.11% 4,308 $428K No change
PG The Procter & Gamble Co. 0.11% 2,569 $424K Add +25.7%
UNP Union Pacific Corp. 0.11% 1,863 $422K Add +7.5%
VNQ Vanguard Real Estate ETF 0.10% 4,519 $379K Reduce -30.5%
VGLT Vanguard Long-Term Treasury 0.10% 6,485 $374K No change
SCHG Schwab US Large-Cap Growth 0.10% 3,706 $374K Reduce -6.3%
VIOO Vanguard S&P Small-Cap 600 E 0.10% 3,705 $364K No change
ABT Abbott Laboratories 0.09% 3,468 $360K No change
IVE iShares S&P 500 Value ETF 0.09% 1,917 $349K No change
XEL Xcel Energy Inc. 0.09% 6,477 $346K Reduce -4.1%
XOM Exxon Mobil Corp. 0.09% 2,994 $345K Reduce -6.4%
KXI iShares Global Consumer Stap 0.08% 4,981 $299K No change
AOR iShares Core 60/40 Balanced 0.08% 5,256 $296K Add +0.2%
NOC Northrop Grumman Corp. 0.07% 654 $285K No change
DHR Danaher Corp. 0.07% 1,135 $284K Reduce -14.3%
NFLX Netflix Inc. 0.07% 390 $263K Add +4.3%
INTC Intel Corp. 0.07% 8,210 $254K Add +8.7%
MDT Medtronic PLC 0.07% 3,173 $250K No change
MPT Medical Properties Trust Inc. 0.06% 56,321 $243K No change
GILD Gilead Sciences Inc. 0.06% 3,531 $242K New
IYK iShares US Consumer Staples 0.06% 3,675 $242K No change
BA The Boeing Co. 0.06% 1,307 $238K No change
V Visa Inc. Class A 0.06% 905 $238K No change
SPYM Ste STR SPDR PT S&P 500 ETF 0.06% 3,702 $237K No change
KO The Coca-Cola Co. 0.06% 3,548 $226K New
IOO iShares Global 100 ETF 0.06% 2,272 $219K Reduce -6.9%
WFC Wells Fargo & Co. 0.06% 3,683 $219K No change
CRM Salesforce Inc. 0.06% 840 $216K Add +24.1%
BTZ BlackRock Credit Allocation 0.03% 10,000 $107K No change

Options reported separately and not counted above: MMM puts ($92).

Portfolio Sells Q1 2024 → Q2 2024
UNH Unitedhealth Group Inc. Reduce -25.0% 0.79% −0.27
IJH iShares Core S&P Midcap ETF Reduce -0.8% 2.96% −0.26
RSPS Invesco S&P 500 Equal Weight Reduce -2.4% 1.28% −0.18
TGT Target Corp. Reduce -0.5% 0.48% −0.12
EFG iShares MSCI Eafe Growth ETF Reduce -4.7% 0.87% −0.09
PNR Pentair PLC Sold out 0.00% −0.05
VNQ Vanguard Real Estate ETF Reduce -30.5% 0.10% −0.05
VIG Vanguard Dividend Apprec ETF Reduce -2.2% 0.65% −0.04
BOND PIMCO Active Bond Exchange-T Reduce -1.2% 0.66% −0.04
MMM 3M Co. Reduce -4.6% 0.27% −0.04
ECL Ecolab Inc. Reduce -17.7% 0.13% −0.03
JNJ Johnson & Johnson Reduce -0.7% 0.21% −0.03
IXC iShares Global Energy ETF Reduce -2.1% 0.28% −0.03
JPST JPMorgan Ultra-Short Income Reduce -5.2% 0.25% −0.02
VT Vanguard Tot World STK ETF Reduce -1.2% 0.74% −0.02
BNDX Vanguard Total Intl Bond ETF Reduce -4.0% 0.22% −0.02
TECH Bio-Techne Corp. Reduce -2.9% 0.37% −0.02
DHR Danaher Corp. Reduce -14.3% 0.07% −0.02
XOM Exxon Mobil Corp. Reduce -6.4% 0.09% −0.01
XEL Xcel Energy Inc. Reduce -4.1% 0.09% −0.01
IOO iShares Global 100 ETF Reduce -6.9% 0.06% −0.00
SCHG Schwab US Large-Cap Growth Reduce -6.3% 0.10% −0.00
IYW iShares Ustechnology ETF Reduce -0.7% 0.21% +0.01
GOOG Alphabet Inc. Class C Reduce -0.5% 0.69% +0.09
AAPL Apple Inc. Reduce -0.1% 2.82% +0.43

Portfolio Buys Q1 2024 → Q2 2024
VOO Vanguard S&P 500 ETF Add +1.9% 20.36% +0.42
IWF iShares Russell 1000 Growth Add +4.4% 2.61% +0.21
SPY SS SPDR S&P 500 ETF Trust-US Add +18.1% 0.92% +0.14
NVDA Nvidia Corp. Add +7.0% 0.38% +0.11
VTI VG Morningstar TS MKT ETF-US Add +1.9% 11.01% +0.11
MSFT Microsoft Corp. Add +4.4% 1.42% +0.09
SPEM State Street SP PTF Em ETF Add +6.8% 1.35% +0.09
LLY Eli Lilly & Co. Add +4.6% 0.45% +0.07
GOOGL Alphabet Inc. Class A Add +0.9% 0.45% +0.07
VWO Vanguard Ftse Emerging Marke Add +2.7% 1.89% +0.07
GILD Gilead Sciences Inc. New 0.06% +0.06
KO The Coca-Cola Co. New 0.06% +0.06
ESGE iShares Inc. iShares ESG Awar Add +13.7% 0.42% +0.05
VGT Vanguard Info Tech ETF Add +5.6% 0.40% +0.04
TSLA Tesla Inc. Add +7.4% 0.20% +0.03
ESGD iShares Trust iShares ESG Aw Add +9.9% 0.52% +0.02
PG The Procter & Gamble Co. Add +25.7% 0.11% +0.02
AMZN Amazon.com Inc. Add +0.6% 0.54% +0.02
COST Costco Wholesale Corp. Add +5.4% 0.13% +0.02
QQQ Invesco QQQ Trust Series 1 Add +1.8% 0.35% +0.02
CGCP Cap Group Core Plus Income Add +7.5% 0.63% +0.02
ORCL Oracle Corp. Add +0.3% 0.14% +0.01
IVV iShares Core S&P 500 ETF Add +0.3% 1.48% +0.01
NFLX Netflix Inc. Add +4.3% 0.07% +0.01
JPM JPMorgan Chase & Co. Add +4.2% 0.39% +0.01
CGDV Cap Group Dividend Value Add +2.8% 0.76% +0.00
IEFA iShares Core MSCI Eafe ETF Add +6.1% 4.06% +0.00
CRM Salesforce Inc. Add +24.1% 0.06% +0.00
EEM iShares MSCI Emerging Market Add +0.3% 0.31% +0.00
XJH Ishare ESG SS S&P Midcap ETF Add +7.6% 0.22% −0.00
AOR iShares Core 60/40 Balanced Add +0.2% 0.08% −0.00
BRK.B Berkshire Hathaway Inc. Class B Add +6.4% 0.43% −0.00
PRU Prudential Financial Inc. Add +0.1% 0.14% −0.01
UNP Union Pacific Corp. Add +7.5% 0.11% −0.01
XLP SS Consumer Staples Sel Sect Add +2.2% 0.47% −0.01
XLV SS Health Care Select Sector Add +4.4% 1.40% −0.01
MAR Marriott International Class A Add +2.4% 0.24% −0.01
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +3.1% 0.43% −0.02
INTC Intel Corp. Add +8.7% 0.07% −0.02
IWD iShares Russell 1000 Value E Add +0.1% 0.47% −0.03
MCD McDonald's Corp. Add +3.0% 0.46% −0.05
VXF Vanguard Extended Market ETF Add +5.4% 2.91% −0.07
IJR iShares Core S&P Small-Cap E Add +0.1% 1.06% −0.08
VTV Vanguard Mrngstr Val ETF-Aui Add +1.6% 2.24% −0.08
VEA Vanguard Ftse Developed ETF Add +3.3% 5.98% −0.12
AGG iShares Core U.S. Aggregate Add +3.4% 13.70% −0.17

Options Activity Q1 2024 → Q2 2024
DHR Danaher Corp. put Sold out 300 $75before exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 110$694.8MVOO, AGG, VTI, IEFA, VEA
Q1 2026 105$616.6MVOO, AGG, VTI, IEFA, VEA
Q4 2025 104$621.3MVOO, AGG, VTI, AKRE, VEA
Q3 2025 104$549.2MVOO, AGG, VTI, VEA, IEFA
Q2 2025 103$492.2MVOO, AGG, VTI, VEA, IEFA
Q1 2025 101$429.3MVOO, AGG, VTI, VEA, IEFA
Q4 2024 102$418.1MVOO, AGG, VTI, VEA, IEFA
Q3 2024 98$412.0MVOO, AGG, VTI, VEA, IEFA
Q2 2024 96$383.2MVOO, AGG, VTI, VEA, IEFA
Q1 2024 95$369.1MVOO, AGG, VTI, VEA, IEFA