Affiance Financial, LLC

In its 13F for Q1 2026 (holdings as of March 31, 2026, filed April 14, 2026), Affiance Financial, LLC reported 105 stock positions worth $616.6 million. Its top holding was Vanguard S&P 500 ETF (VOO) at 18.9% of the portfolio, followed by iShares Core U.S. Aggregate (AGG, 15.7%) and VG Morningstar TS MKT ETF-US (VTI, 11.9%). Compared with Q4 2025, it opened 4 new positions, sold out of 3, added to 29 and reduced 31. The biggest buy was iShares Core U.S. Aggregate (AGG, shares +8%) and the biggest sale Akre Focus ETF (AKRE, shares −43%).

Most Recent 13F
Q2 2026
Location
ST. LOUIS PARK, MN
CIK
0001723681
Portfolio Value
$616.6M (Q1 2026)
SEC Filing
0001723681-26-000003 ↗ filed Apr 14, 2026

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 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 $616.6M Q1 2026 Q2 2026: $694.8M Q2 2026

Holdings 105 stocks · $616.6M
VOO Vanguard S&P 500 ETF 18.86% 194,643 $116.3M Reduce -1.6%
AGG iShares Core U.S. Aggregate 15.65% 972,104 $96.5M Add +8.3%
VTI VG Morningstar TS MKT ETF-US 11.86% 227,871 $73.1M Add +9.9%
IEFA iShares Core MSCI Eafe ETF 5.59% 380,964 $34.5M Add +21.9%
VEA Vanguard Ftse Developed ETF 5.43% 522,437 $33.5M Reduce -3.4%
IWF iShares Russell 1000 Growth 4.24% 61,344 $26.2M Add +24.5%
VTV Vanguard Mrngstr Val ETF-Aui 3.30% 103,560 $20.3M Add +16.2%
AKRE Akre Focus ETF filed as PROFESIONALLY MANAGED PORTFO 3.19% 372,314 $19.7M Reduce -43.3%
VXF Vanguard Extended Market ETF 2.36% 70,713 $14.6M Reduce -12.4%
SPEM State Street SP PTF Em ETF 1.89% 248,912 $11.7M Add +17.1%
VWO Vanguard Ftse Emerging Marke 1.86% 212,527 $11.5M Reduce -0.4%
IJH iShares Core S&P Midcap ETF 1.84% 168,174 $11.4M Reduce -0.2%
AAPL Apple Inc. 1.61% 39,038 $9.9M Reduce -11.0%
BOND PIMCO Active Bond Exchange-T 1.46% 97,316 $9.0M Add +35.6%
CGCP Cap Group Core Plus Income 1.27% 351,792 $7.9M Add +43.4%
CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE 0.98% 142,312 $6.1M Add +18.9%
IVV iShares Core S&P 500 ETF 0.93% 8,773 $5.7M Reduce -1.4%
IJR iShares Core S&P Small-Cap E 0.87% 43,007 $5.3M Add +15.4%
VT Vanguard Tot World STK ETF 0.76% 33,719 $4.7M Add +1.6%
GOOG Alphabet Inc. Class C 0.66% 14,148 $4.1M No change
MSFT Microsoft Corp. 0.66% 10,933 $4.0M Reduce -1.6%
SPY SS SPDR S&P 500 ETF Trust-US 0.65% 6,130 $4.0M Add +0.8%
ESGD iShares Trust iShares ESG Aw 0.58% 37,468 $3.6M Add +29.8%
AMZN Amazon.com Inc. 0.58% 17,118 $3.6M Add +37.4%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.53% 11,343 $3.3M Add +15.2%
VIG Vanguard Dividend Apprec ETF 0.49% 13,915 $3.0M Reduce -0.2%
EFIV SS SPDR S&P 500 ESG ETF 0.46% 44,594 $2.8M New
GOOGL Alphabet Inc. Class A 0.44% 9,452 $2.7M Reduce -0.8%
EFG iShares MSCI Eafe Growth ETF 0.43% 23,980 $2.7M Reduce -8.7%
META Meta Platforms Inc. Class A 0.42% 4,554 $2.6M No change
NVDA Nvidia Corp. 0.41% 14,648 $2.6M Add +1.6%
JPM JPMorgan Chase & Co. 0.41% 8,532 $2.5M Reduce -0.0%
ESGE iShares Inc. iShares ESG Awar 0.38% 51,356 $2.3M Add +2.4%
WMT Walmart Inc. 0.37% 18,522 $2.3M No change
IWD iShares Russell 1000 Value E 0.36% 10,247 $2.2M No change
CGUS Cap Group Core Equity filed as CAPITAL GROUP CORE EQUITY ET 0.35% 56,803 $2.2M Reduce -36.6%
BRK.B Berkshire Hathaway Inc. Class B 0.34% 4,356 $2.1M Add +3.1%
QQQ Invesco QQQ Trust Series 1 0.33% 3,560 $2.1M Add +0.2%
VXUS Vanguard Total Intl Stock 0.33% 26,086 $2.0M No change
VGT Vanguard Info Tech ETF 0.31% 2,709 $1.9M No change
XLP SS Consumer Staples Sel Sect 0.26% 19,869 $1.6M Reduce -1.0%
UNH Unitedhealth Group Inc. 0.26% 5,897 $1.6M Add +0.1%
EFA iShares MSCI Eafe ETF 0.24% 14,967 $1.5M No change
IXC iShares Global Energy ETF 0.23% 24,755 $1.4M No change
MMM 3M Co. 0.22% 9,462 $1.4M No change
EVUS iShares ESG Aw MSCI US Value 0.21% 41,167 $1.3M New
LLY Eli Lilly & Co. 0.21% 1,405 $1.3M No change
EEM iShares MSCI Emerging Market 0.21% 22,276 $1.3M Reduce -0.4%
MCD McDonald's Corp. 0.20% 4,032 $1.3M Reduce -10.9%
MAR Marriott International Class A 0.20% 3,765 $1.2M No change
XJH Ishare ESG SS S&P Midcap ETF 0.18% 24,763 $1.1M Reduce -20.2%
TGT Target Corp. 0.18% 9,257 $1.1M Reduce -2.1%
MUB iShares National Muni Bond E 0.16% 9,473 $1.0M Reduce -11.7%
JNJ Johnson & Johnson 0.16% 4,078 $997K Add +0.9%
XLV SS Health Care Select Sector 0.14% 5,862 $859K No change
TSLA Tesla Inc. 0.14% 2,288 $851K Add +0.1%
IWP iShares Russell Mid-Cap Grow 0.14% 6,631 $850K Reduce -7.7%
IYW iShares Ustechnology ETF 0.13% 4,400 $798K No change
JPST JPMorgan Ultra-Short Income 0.13% 15,535 $786K Reduce -0.8%
PRVA Privia Health Group Inc. 0.12% 34,742 $715K No change
NUSC Nuveen ESG Small-Cap ETF 0.11% 15,419 $695K New
TECH Bio-Techne Corp. 0.11% 13,206 $690K Reduce -11.0%
ORCL Oracle Corp. 0.10% 4,341 $639K Reduce -1.5%
HON Honeywell International Inc. 0.10% 2,699 $610K Reduce -4.3%
ABBV Abbvie Inc. 0.10% 2,746 $597K No change
IVOO Vanguard S&P Mid-Cap 400 ETF 0.09% 4,984 $570K No change
LMT Lockheed Martin Corp. 0.09% 938 $567K Reduce -7.6%
ECL Ecolab Inc. 0.09% 2,079 $553K Add +0.1%
NOW ServiceNow Inc. 0.08% 4,990 $522K No change
PRU Prudential Financial Inc. 0.07% 4,728 $462K Add +0.2%
COST Costco Wholesale Corp. 0.07% 461 $460K Add +2.9%
SCHG Schwab US Large-Cap Growth 0.07% 15,760 $459K Add +1.0%
XLK SS Technology Select Sector 0.07% 3,441 $457K Reduce -5.8%
NOC Northrop Grumman Corp. 0.07% 654 $446K No change
UNP Union Pacific Corp. 0.07% 1,828 $444K No change
DCI Donaldson Co. Inc. 0.07% 5,057 $429K Reduce -31.0%
VIOO Vanguard S&P Small-Cap 600 E 0.07% 3,705 $425K No change
GIS General Mills Inc. 0.07% 11,415 $425K Reduce -0.0%
NSPR Inspiremd Inc. 0.07% 250,370 $408K No change
NFLX Netflix Inc. 0.07% 4,214 $405K Add +5.9%
IVE iShares S&P 500 Value ETF 0.07% 1,917 $405K No change
CAT Caterpillar Inc. 0.06% 555 $393K Add +9.3%
GILD Gilead Sciences Inc. 0.06% 2,774 $387K No change
XOM Exxon Mobil Corp. 0.06% 2,260 $384K No change
PG The Procter & Gamble Co. 0.06% 2,649 $383K Reduce -0.7%
XEL Xcel Energy Inc. 0.06% 4,592 $365K No change
VGLT Vanguard Long-Term Treasury 0.06% 6,485 $359K No change
VONV Vanguard Russell 1000 Value 0.06% 3,761 $353K No change
DVY iShares Select Dividend ETF 0.06% 2,275 $344K No change
KXI iShares Global Consumer Stap 0.05% 4,800 $322K No change
CVX Chevron Corp. 0.05% 1,505 $311K Add +2.3%
DEO Diageo PLC-Sponsored ADR 0.04% 3,702 $276K No change
RTX RTX Corp. 0.04% 1,354 $261K No change
MPT Medical Properties Trust Inc. 0.04% 56,321 $261K No change
MDT Medtronic PLC 0.04% 2,979 $258K No change
V Visa Inc. Class A 0.04% 837 $253K No change
NVT Nvent Electric PLC 0.04% 2,120 $251K Reduce -9.8%
ABT Abbott Laboratories 0.04% 2,401 $247K No change
STLD Steel Dynamics Inc. 0.04% 1,325 $239K No change
IOO iShares Global 100 ETF 0.04% 1,952 $236K No change

Show all 105 holdings

Options reported separately and not counted above: QQQ puts ($519K).

Portfolio Sells Q4 2025 → Q1 2026
AKRE Akre Focus ETF Reduce -43.3% 3.19% −3.73
VOO Vanguard S&P 500 ETF Reduce -1.6% 18.86% −1.11
VXF Vanguard Extended Market ETF Reduce -12.4% 2.36% −0.36
AAPL Apple Inc. Reduce -11.0% 1.61% −0.31
CGUS Cap Group Core Equity Reduce -36.6% 0.35% −0.23
MSFT Microsoft Corp. Reduce -1.6% 0.66% −0.21
IVV iShares Core S&P 500 ETF Reduce -1.4% 0.93% −0.05
EFG iShares MSCI Eafe Growth ETF Reduce -8.7% 0.43% −0.05
XJH Ishare ESG SS S&P Midcap ETF Reduce -20.2% 0.18% −0.04
GOOGL Alphabet Inc. Class A Reduce -0.8% 0.44% −0.04
DIS The Walt Disney Co. Sold out 0.00% −0.04
JPM JPMorgan Chase & Co. Reduce -0.0% 0.41% −0.04
DCI Donaldson Co. Inc. Reduce -31.0% 0.07% −0.03
ORCL Oracle Corp. Reduce -1.5% 0.10% −0.03
DHR Danaher Corp. Sold out 0.00% −0.03
TECH Bio-Techne Corp. Reduce -11.0% 0.11% −0.03
BTZ BlackRock Credit Allocation Sold out 0.00% −0.02
MUB iShares National Muni Bond E Reduce -11.7% 0.16% −0.02
IWP iShares Russell Mid-Cap Grow Reduce -7.7% 0.14% −0.02
MCD McDonald's Corp. Reduce -10.9% 0.20% −0.02
GIS General Mills Inc. Reduce -0.0% 0.07% −0.02
XLK SS Technology Select Sector Reduce -5.8% 0.07% −0.01
VEA Vanguard Ftse Developed ETF Reduce -3.4% 5.43% −0.01
VIG Vanguard Dividend Apprec ETF Reduce -0.2% 0.49% −0.01
JPST JPMorgan Ultra-Short Income Reduce -0.8% 0.13% 0.00
PG The Procter & Gamble Co. Reduce -0.7% 0.06% +0.00
NVT Nvent Electric PLC Reduce -9.8% 0.04% +0.00
EEM iShares MSCI Emerging Market Reduce -0.4% 0.21% +0.01
HON Honeywell International Inc. Reduce -4.3% 0.10% +0.01
LMT Lockheed Martin Corp. Reduce -7.6% 0.09% +0.01
XLP SS Consumer Staples Sel Sect Reduce -1.0% 0.26% +0.01
VWO Vanguard Ftse Emerging Marke Reduce -0.4% 1.86% +0.02
TGT Target Corp. Reduce -2.1% 0.18% +0.03
IJH iShares Core S&P Midcap ETF Reduce -0.2% 1.84% +0.05

Portfolio Buys Q4 2025 → Q1 2026
AGG iShares Core U.S. Aggregate Add +8.3% 15.65% +1.22
IEFA iShares Core MSCI Eafe ETF Add +21.9% 5.59% +1.09
VTI VG Morningstar TS MKT ETF-US Add +9.9% 11.86% +0.66
VTV Vanguard Mrngstr Val ETF-Aui Add +16.2% 3.30% +0.55
IWF iShares Russell 1000 Growth Add +24.5% 4.24% +0.49
EFIV SS SPDR S&P 500 ESG ETF New 0.46% +0.46
BOND PIMCO Active Bond Exchange-T Add +35.6% 1.46% +0.38
CGCP Cap Group Core Plus Income Add +43.4% 1.27% +0.38
SPEM State Street SP PTF Em ETF Add +17.1% 1.89% +0.29
EVUS iShares ESG Aw MSCI US Value New 0.21% +0.21
IJR iShares Core S&P Small-Cap E Add +15.4% 0.87% +0.15
CGDV Cap Group Dividend Value Add +18.9% 0.98% +0.14
ESGD iShares Trust iShares ESG Aw Add +29.8% 0.58% +0.14
AMZN Amazon.com Inc. Add +37.4% 0.58% +0.12
NUSC Nuveen ESG Small-Cap ETF New 0.11% +0.11
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +15.2% 0.53% +0.07
SRE Sempra New 0.03% +0.03
JNJ Johnson & Johnson Add +0.9% 0.16% +0.03
ESGE iShares Inc. iShares ESG Awar Add +2.4% 0.38% +0.02
CAT Caterpillar Inc. Add +9.3% 0.06% +0.02
CVX Chevron Corp. Add +2.3% 0.05% +0.01
COST Costco Wholesale Corp. Add +2.9% 0.07% +0.01
NFLX Netflix Inc. Add +5.9% 0.07% +0.01
VT Vanguard Tot World STK ETF Add +1.6% 0.76% +0.00
ECL Ecolab Inc. Add +0.1% 0.09% +0.00
BRK.B Berkshire Hathaway Inc. Class B Add +3.1% 0.34% −0.00
SCHG Schwab US Large-Cap Growth Add +1.0% 0.07% −0.01
PRU Prudential Financial Inc. Add +0.2% 0.07% −0.01
QQQ Invesco QQQ Trust Series 1 Add +0.2% 0.33% −0.02
NVDA Nvidia Corp. Add +1.6% 0.41% −0.02
SPY SS SPDR S&P 500 ETF Trust-US Add +0.8% 0.65% −0.02
TSLA Tesla Inc. Add +0.1% 0.14% −0.03
UNH Unitedhealth Group Inc. Add +0.1% 0.26% −0.05

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