Affiance Financial, LLC

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed October 11, 2024), Affiance Financial, LLC reported 98 stock positions worth $412.0 million. Its top holding was Vanguard S&P 500 ETF (VOO) at 20.0% of the portfolio, followed by iShares Core U.S. Aggregate (AGG, 13.6%) and VG Morningstar TS MKT ETF-US (VTI, 11.1%). Compared with Q2 2024, it opened 5 new positions, sold out of 3, added to 31 and reduced 29. The biggest buy was iShares Core MSCI Eafe ETF (IEFA, shares +9%) and the biggest sale iShares Core S&P Small-Cap E (IJR, shares −16%).

Most Recent 13F
Q2 2026
Location
ST. LOUIS PARK, MN
CIK
0001723681
Portfolio Value
$412.0M (Q3 2024)
SEC Filing
0001085146-24-004844 ↗ filed Oct 11, 2024

Holdings Value

0$200.0M$400.0M$600.0M$800.0M Q1 2024: $369.1M Q1 2024 Q2 2024: $383.2M Q2 2024 Q3 2024: $412.0M $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 98 stocks · $412.0M
VOO Vanguard S&P 500 ETF 20.01% 156,232 $82.4M Add +0.1%
AGG iShares Core U.S. Aggregate 13.60% 553,284 $56.0M Add +2.3%
VTI VG Morningstar TS MKT ETF-US 11.07% 161,019 $45.6M Add +2.1%
VEA Vanguard Ftse Developed ETF 6.01% 469,276 $24.8M Add +1.1%
IEFA iShares Core MSCI Eafe ETF 4.41% 233,028 $18.2M Add +8.9%
VXF Vanguard Extended Market ETF 2.97% 67,174 $12.2M Add +1.8%
AAPL Apple Inc. 2.88% 50,977 $11.9M Reduce -0.6%
IJH iShares Core S&P Midcap ETF 2.87% 189,814 $11.8M Reduce -2.1%
IWF iShares Russell 1000 Growth 2.62% 28,713 $10.8M Add +4.5%
VTV Vanguard Mrngstr Val ETF-Aui 2.38% 56,280 $9.8M Add +5.2%
VWO Vanguard Ftse Emerging Marke 1.96% 168,548 $8.1M Add +2.0%
SPEM State Street SP PTF Em ETF 1.47% 146,663 $6.1M Add +7.0%
XLV SS Health Care Select Sector 1.41% 37,620 $5.8M Add +2.4%
IVV iShares Core S&P 500 ETF 1.36% 9,746 $5.6M Reduce -5.9%
RSPS Invesco S&P 500 Equal Weight 1.31% 166,834 $5.4M Add +3.7%
MSFT Microsoft Corp. 1.28% 12,241 $5.3M Add +0.5%
IJR iShares Core S&P Small-Cap E 0.91% 32,044 $3.7M Reduce -16.1%
SPY SS SPDR S&P 500 ETF Trust-US 0.89% 6,408 $3.7M Reduce -0.8%
UNH Unitedhealth Group Inc. 0.85% 5,962 $3.5M Reduce -0.1%
EFG iShares MSCI Eafe Growth ETF 0.80% 30,802 $3.3M Reduce -5.5%
CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE 0.77% 86,772 $3.2M Reduce -1.1%
VT Vanguard Tot World STK ETF 0.74% 25,408 $3.0M Add +0.6%
BOND PIMCO Active Bond Exchange-T 0.72% 31,277 $3.0M Add +11.9%
CGCP Cap Group Core Plus Income 0.70% 123,865 $2.9M Add +13.2%
VIG Vanguard Dividend Apprec ETF 0.65% 13,598 $2.7M No change
META Meta Platforms Inc. Class A 0.62% 4,454 $2.5M Reduce -16.2%
GOOG Alphabet Inc. Class C 0.58% 14,370 $2.4M No change
ESGD iShares Trust iShares ESG Aw 0.52% 25,270 $2.1M Add +0.3%
AMZN Amazon.com Inc. 0.48% 10,663 $2.0M Reduce -0.8%
IWD iShares Russell 1000 Value E 0.48% 10,405 $2.0M Reduce -0.1%
XLP SS Consumer Staples Sel Sect 0.47% 23,290 $1.9M Reduce -0.5%
MCD McDonald's Corp. 0.46% 6,243 $1.9M Reduce -9.9%
BRK.B Berkshire Hathaway Inc. Class B 0.45% 4,069 $1.9M Reduce -0.3%
ESGE iShares Inc. iShares ESG Awar 0.44% 49,874 $1.8M Add +2.8%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.44% 6,798 $1.8M Add +0.4%
TGT Target Corp. 0.43% 11,417 $1.8M Reduce -8.5%
LLY Eli Lilly & Co. 0.41% 1,925 $1.7M No change
JPM JPMorgan Chase & Co. 0.38% 7,515 $1.6M Add +0.9%
VGT Vanguard Info Tech ETF 0.38% 2,685 $1.6M Add +0.4%
GOOGL Alphabet Inc. Class A 0.38% 9,406 $1.6M Reduce -0.3%
NVDA Nvidia Corp. 0.37% 12,716 $1.5M Add +8.1%
MMM 3M Co. 0.37% 11,254 $1.5M Add +10.5%
TECH Bio-Techne Corp. 0.36% 18,495 $1.5M Reduce -6.7%
EFA iShares MSCI Eafe ETF 0.35% 17,073 $1.4M No change
QQQ Invesco QQQ Trust Series 1 0.34% 2,881 $1.4M Add +3.9%
EEM iShares MSCI Emerging Market 0.31% 28,175 $1.3M No change
GIS General Mills Inc. 0.26% 14,654 $1.1M Add +2.4%
IXC iShares Global Energy ETF 0.25% 25,875 $1.0M Reduce -0.5%
TSLA Tesla Inc. 0.24% 3,804 $995K Reduce -2.6%
MAR Marriott International Class A 0.23% 3,765 $936K No change
XJH Ishare ESG SS S&P Midcap ETF 0.22% 21,481 $908K Add +0.9%
NOW ServiceNow Inc. 0.22% 1,002 $896K No change
JNJ Johnson & Johnson 0.22% 5,482 $889K Reduce -1.2%
BNDX Vanguard Total Intl Bond ETF 0.21% 17,361 $873K Reduce -1.2%
ORCL Oracle Corp. 0.21% 5,097 $869K Add +34.0%
IWP iShares Russell Mid-Cap Grow 0.21% 7,222 $847K No change
IYW iShares Ustechnology ETF 0.20% 5,396 $818K No change
JPST JPMorgan Ultra-Short Income 0.20% 16,012 $812K Reduce -16.4%
HON Honeywell International Inc. 0.16% 3,273 $677K Reduce -1.6%
PRVA Privia Health Group Inc. 0.15% 34,742 $633K No change
ABBV Abbvie Inc. 0.14% 3,019 $596K No change
LMT Lockheed Martin Corp. 0.14% 1,000 $585K No change
COST Costco Wholesale Corp. 0.14% 651 $578K Add +12.1%
PRU Prudential Financial Inc. 0.14% 4,682 $567K Add +0.1%
IVOO Vanguard S&P Mid-Cap 400 ETF 0.13% 5,030 $531K No change
DEO Diageo PLC-Sponsored ADR 0.13% 3,702 $520K No change
NSPR Inspiremd Inc. 0.12% 183,746 $492K New
BIL SS SPDR BB 1-3M T-Bill ETF 0.12% 5,173 $475K New
UNP Union Pacific Corp. 0.11% 1,863 $459K No change
ECL Ecolab Inc. 0.11% 1,783 $455K Reduce -14.7%
PG The Procter & Gamble Co. 0.11% 2,520 $437K Reduce -1.9%
XEL Xcel Energy Inc. 0.10% 6,520 $426K Add +0.7%
VIOO Vanguard S&P Small-Cap 600 E 0.10% 3,705 $401K No change
VGLT Vanguard Long-Term Treasury 0.10% 6,485 $399K No change
ABT Abbott Laboratories 0.10% 3,468 $395K No change
SCHG Schwab US Large-Cap Growth 0.09% 3,706 $386K No change
IVE iShares S&P 500 Value ETF 0.09% 1,917 $378K No change
VNQ Vanguard Real Estate ETF 0.09% 3,642 $355K Reduce -19.4%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.08% 3,616 $348K Reduce -16.1%
NOC Northrop Grumman Corp. 0.08% 654 $345K No change
XOM Exxon Mobil Corp. 0.08% 2,855 $335K Reduce -4.6%
MPT Medical Properties Trust Inc. 0.08% 56,321 $329K No change
KXI iShares Global Consumer Stap 0.08% 4,981 $328K No change
DHR Danaher Corp. 0.08% 1,135 $316K No change
GILD Gilead Sciences Inc. 0.07% 3,531 $296K No change
MDT Medtronic PLC 0.07% 3,173 $286K No change
NFLX Netflix Inc. 0.07% 390 $277K No change
V Visa Inc. Class A 0.06% 954 $262K Add +5.4%
IYK iShares US Consumer Staples 0.06% 3,675 $259K No change
KO The Coca-Cola Co. 0.06% 3,548 $255K No change
SPYM Ste STR SPDR PT S&P 500 ETF 0.06% 3,702 $250K No change
CRM Salesforce Inc. 0.06% 840 $230K No change
PNR Pentair PLC 0.06% 2,351 $230K New
WMT Walmart Inc. 0.06% 2,817 $227K New
IOO iShares Global 100 ETF 0.05% 2,204 $219K Reduce -3.0%
SOLV Solventum Corp. 0.05% 3,013 $210K New
WFC Wells Fargo & Co. 0.05% 3,683 $208K No change
BTZ BlackRock Credit Allocation 0.03% 10,000 $113K No change

Options reported separately and not counted above: MMM puts ($232K), DHR puts ($111K).

Portfolio Sells Q2 2024 → Q3 2024
IJR iShares Core S&P Small-Cap E Reduce -16.1% 0.91% −0.15
IVV iShares Core S&P 500 ETF Reduce -5.9% 1.36% −0.11
IJH iShares Core S&P Midcap ETF Reduce -2.1% 2.87% −0.09
META Meta Platforms Inc. Class A Reduce -16.2% 0.62% −0.08
AOR iShares Core 60/40 Balanced Sold out 0.00% −0.08
GOOGL Alphabet Inc. Class A Reduce -0.3% 0.38% −0.07
INTC Intel Corp. Sold out 0.00% −0.07
EFG iShares MSCI Eafe Growth ETF Reduce -5.5% 0.80% −0.07
BA The Boeing Co. Sold out 0.00% −0.06
AMZN Amazon.com Inc. Reduce -0.8% 0.48% −0.06
JPST JPMorgan Ultra-Short Income Reduce -16.4% 0.20% −0.05
TGT Target Corp. Reduce -8.5% 0.43% −0.05
IXC iShares Global Energy ETF Reduce -0.5% 0.25% −0.03
DIS The Walt Disney Co. Reduce -16.1% 0.08% −0.03
SPY SS SPDR S&P 500 ETF Trust-US Reduce -0.8% 0.89% −0.02
HON Honeywell International Inc. Reduce -1.6% 0.16% −0.02
ECL Ecolab Inc. Reduce -14.7% 0.11% −0.02
VNQ Vanguard Real Estate ETF Reduce -19.4% 0.09% −0.01
TECH Bio-Techne Corp. Reduce -6.7% 0.36% −0.01
BNDX Vanguard Total Intl Bond ETF Reduce -1.2% 0.21% −0.01
XOM Exxon Mobil Corp. Reduce -4.6% 0.08% −0.01
PG The Procter & Gamble Co. Reduce -1.9% 0.11% −0.00
IOO iShares Global 100 ETF Reduce -3.0% 0.05% −0.00
MCD McDonald's Corp. Reduce -9.9% 0.46% +0.00
XLP SS Consumer Staples Sel Sect Reduce -0.5% 0.47% +0.00
JNJ Johnson & Johnson Reduce -1.2% 0.22% +0.00
IWD iShares Russell 1000 Value E Reduce -0.1% 0.48% +0.01
CGDV Cap Group Dividend Value Reduce -1.1% 0.77% +0.01
BRK.B Berkshire Hathaway Inc. Class B Reduce -0.3% 0.45% +0.02
TSLA Tesla Inc. Reduce -2.6% 0.24% +0.04
UNH Unitedhealth Group Inc. Reduce -0.1% 0.85% +0.05
AAPL Apple Inc. Reduce -0.6% 2.88% +0.07

Portfolio Buys Q2 2024 → Q3 2024
IEFA iShares Core MSCI Eafe ETF Add +8.9% 4.41% +0.36
VTV Vanguard Mrngstr Val ETF-Aui Add +5.2% 2.38% +0.15
SPEM State Street SP PTF Em ETF Add +7.0% 1.47% +0.12
NSPR Inspiremd Inc. New 0.12% +0.12
BIL SS SPDR BB 1-3M T-Bill ETF New 0.12% +0.12
MMM 3M Co. Add +10.5% 0.37% +0.10
ORCL Oracle Corp. Add +34.0% 0.21% +0.07
VWO Vanguard Ftse Emerging Marke Add +2.0% 1.96% +0.07
VXF Vanguard Extended Market ETF Add +1.8% 2.97% +0.06
CGCP Cap Group Core Plus Income Add +13.2% 0.70% +0.06
VTI VG Morningstar TS MKT ETF-US Add +2.1% 11.07% +0.06
PNR Pentair PLC New 0.06% +0.06
WMT Walmart Inc. New 0.06% +0.06
BOND PIMCO Active Bond Exchange-T Add +11.9% 0.72% +0.05
SOLV Solventum Corp. New 0.05% +0.05
VEA Vanguard Ftse Developed ETF Add +1.1% 6.01% +0.03
GIS General Mills Inc. Add +2.4% 0.26% +0.03
RSPS Invesco S&P 500 Equal Weight Add +3.7% 1.31% +0.03
ESGE iShares Inc. iShares ESG Awar Add +2.8% 0.44% +0.02
XEL Xcel Energy Inc. Add +0.7% 0.10% +0.01
COST Costco Wholesale Corp. Add +12.1% 0.14% +0.01
XLV SS Health Care Select Sector Add +2.4% 1.41% +0.01
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +0.4% 0.44% +0.01
IWF iShares Russell 1000 Growth Add +4.5% 2.62% +0.00
V Visa Inc. Class A Add +5.4% 0.06% +0.00
XJH Ishare ESG SS S&P Midcap ETF Add +0.9% 0.22% +0.00
ESGD iShares Trust iShares ESG Aw Add +0.3% 0.52% −0.00
VT Vanguard Tot World STK ETF Add +0.6% 0.74% −0.00
NVDA Nvidia Corp. Add +8.1% 0.37% −0.00
QQQ Invesco QQQ Trust Series 1 Add +3.9% 0.34% −0.01
PRU Prudential Financial Inc. Add +0.1% 0.14% −0.01
JPM JPMorgan Chase & Co. Add +0.9% 0.38% −0.01
VGT Vanguard Info Tech ETF Add +0.4% 0.38% −0.02
AGG iShares Core U.S. Aggregate Add +2.3% 13.60% −0.10
MSFT Microsoft Corp. Add +0.5% 1.28% −0.14
VOO Vanguard S&P 500 ETF Add +0.1% 20.01% −0.35

Options Activity Q2 2024 → Q3 2024
MMM 3M Co. put Add +88.9% 1,700 $232K
DHR Danaher Corp. put New 400 $111K

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