Affiance Financial, LLC

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed July 9, 2026), Affiance Financial, LLC reported 110 stock positions worth $694.8 million. Its top holding was Vanguard S&P 500 ETF (VOO) at 19.2% of the portfolio, followed by iShares Core U.S. Aggregate (AGG, 14.1%) and VG Morningstar TS MKT ETF-US (VTI, 12.6%). Compared with Q1 2026, it opened 8 new positions, sold out of 3, added to 38 and reduced 29. The biggest buy was VG Morningstar TS MKT ETF-US (VTI, shares +4%) and the biggest sale Akre Focus ETF (AKRE, shares −1%).

Most Recent 13F
Q2 2026
Location
ST. LOUIS PARK, MN
CIK
0001723681
Portfolio Value
$694.8M (Q2 2026)
SEC Filing
0001723681-26-000004 ↗ filed Jul 9, 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 Q1 2026 Q2 2026: $694.8M $694.8M Q2 2026

Holdings 110 stocks · $694.8M
VOO Vanguard S&P 500 ETF 19.23% 194,493 $133.6M Reduce -0.1%
AGG iShares Core U.S. Aggregate 14.11% 990,470 $98.0M Add +1.9%
VTI VG Morningstar TS MKT ETF-US 12.64% 237,334 $87.8M Add +4.2%
IEFA iShares Core MSCI Eafe ETF 5.63% 404,972 $39.1M Add +6.3%
VEA Vanguard Ftse Developed ETF 5.34% 520,621 $37.1M Reduce -0.3%
IWF iShares Russell 1000 Growth 4.74% 265,114 $32.9M Add +8.0%
VTV Vanguard Mrngstr Val ETF-Aui 3.39% 108,012 $23.5M Add +4.3%
AKRE Akre Focus ETF filed as PROFESIONALLY MANAGED PORTFO 2.83% 370,045 $19.7M Reduce -0.6%
VXF Vanguard Extended Market ETF 2.48% 70,004 $17.2M Reduce -1.0%
SPEM State Street SP PTF Em ETF 1.95% 261,106 $13.5M Add +4.9%
VWO Vanguard Ftse Emerging Marke 1.82% 212,407 $12.7M Reduce -0.1%
IJH iShares Core S&P Midcap ETF 1.82% 163,824 $12.6M Reduce -2.6%
BOND PIMCO Active Bond Exchange-T 1.68% 126,883 $11.7M Add +30.4%
AAPL Apple Inc. 1.47% 35,289 $10.2M Reduce -9.6%
CGCP Cap Group Core Plus Income 1.19% 369,532 $8.2M Add +5.0%
CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE 1.05% 148,746 $7.3M Add +4.5%
IJR iShares Core S&P Small-Cap E 0.97% 45,380 $6.7M Add +5.5%
IVV iShares Core S&P 500 ETF 0.95% 8,781 $6.6M Add +0.1%
VT Vanguard Tot World STK ETF 0.76% 33,815 $5.3M Add +0.3%
GOOG Alphabet Inc. Class C 0.71% 13,920 $4.9M Reduce -1.6%
SPY SS SPDR S&P 500 ETF Trust-US 0.64% 5,966 $4.5M Reduce -2.7%
ESGD iShares Trust iShares ESG Aw 0.58% 39,390 $4.0M Add +5.1%
MSFT Microsoft Corp. 0.58% 10,818 $4.0M Reduce -1.1%
AMZN Amazon.com Inc. 0.57% 16,593 $4.0M Reduce -3.1%
VO Vngrd Mrngstr MD-Cap ETF-Usd 0.55% 47,561 $3.8M Add +4.8%
GOOGL Alphabet Inc. Class A 0.48% 9,275 $3.3M Reduce -1.9%
VIG Vanguard Dividend Apprec ETF 0.48% 13,972 $3.3M Add +0.4%
EFIV SS SPDR S&P 500 ESG ETF 0.48% 45,299 $3.3M Add +1.6%
EFG iShares MSCI Eafe Growth ETF 0.42% 23,689 $2.9M Reduce -1.2%
JPM JPMorgan Chase & Co. 0.40% 8,532 $2.8M No change
ESGE iShares Inc. iShares ESG Awar 0.40% 50,876 $2.8M Reduce -0.9%
VGT Vanguard Info Tech ETF 0.39% 22,449 $2.7M Add +3.6%
QQQ Invesco QQQ Trust Series 1 0.38% 3,583 $2.6M Add +0.7%
META Meta Platforms Inc. Class A 0.37% 4,556 $2.6M Add +0.0%
CGUS Cap Group Core Equity filed as CAPITAL GROUP CORE EQUITY ET 0.36% 56,008 $2.5M Reduce -1.4%
UNH Unitedhealth Group Inc. 0.35% 5,824 $2.4M Reduce -1.2%
VXUS Vanguard Total Intl Stock 0.31% 25,331 $2.2M Reduce -2.9%
BRK.B Berkshire Hathaway Inc. Class B 0.30% 4,141 $2.1M Reduce -4.9%
IWD iShares Russell 1000 Value E 0.29% 8,391 $2.0M Reduce -18.1%
WMT Walmart Inc. 0.27% 16,789 $1.9M Reduce -9.4%
NVDA Nvidia Corp. 0.27% 9,386 $1.9M Reduce -35.9%
LLY Eli Lilly & Co. 0.24% 1,405 $1.7M No change
MMM 3M Co. 0.23% 10,082 $1.6M Add +6.5%
XLP SS Consumer Staples Sel Sect 0.23% 19,243 $1.6M Reduce -3.1%
EFA iShares MSCI Eafe ETF 0.23% 15,267 $1.6M Add +2.0%
EEM iShares MSCI Emerging Market 0.22% 22,276 $1.5M No change
EVUS iShares ESG Aw MSCI US Value 0.21% 41,937 $1.5M Add +1.9%
JNJ Johnson & Johnson 0.20% 5,602 $1.4M Add +37.4%
MAR Marriott International Class A 0.20% 3,767 $1.4M Add +0.1%
XJH Ishare ESG SS S&P Midcap ETF 0.18% 23,840 $1.2M Reduce -3.7%
IXC iShares Global Energy ETF 0.18% 24,768 $1.2M Add +0.1%
IYW iShares Ustechnology ETF 0.16% 4,400 $1.1M No change
MCD McDonald's Corp. 0.16% 4,032 $1.1M No change
MUB iShares National Muni Bond E 0.15% 9,473 $1.0M No change
VB Vanguard Most SM-Cap ETF-Usd 0.14% 3,220 $976K New
IWP iShares Russell Mid-Cap Grow 0.14% 6,631 $971K No change
TSLA Tesla Inc. 0.14% 2,288 $962K No change
TGT Target Corp. 0.14% 7,348 $960K Reduce -20.6%
TECH Bio-Techne Corp. 0.13% 13,206 $933K No change
XLV SS Health Care Select Sector 0.13% 5,721 $908K Reduce -2.4%
PRVA Privia Health Group Inc. 0.13% 34,742 $894K No change
MU Micron Technology Inc. 0.12% 721 $832K New
NUSC Nuveen ESG Small-Cap ETF 0.12% 15,624 $814K Add +1.3%
JPST JPMorgan Ultra-Short Income 0.11% 15,516 $785K Reduce -0.1%
XLK SS Technology Select Sector 0.10% 3,724 $709K Add +8.2%
ABBV Abbvie Inc. 0.10% 2,720 $684K Reduce -0.9%
IVOO Vanguard S&P Mid-Cap 400 ETF 0.09% 4,997 $652K Add +0.3%
ORCL Oracle Corp. 0.09% 4,349 $637K Add +0.2%
CAT Caterpillar Inc. 0.09% 578 $616K Add +4.1%
ECL Ecolab Inc. 0.08% 2,079 $579K No change
SCHG Schwab US Large-Cap Growth 0.08% 15,775 $534K Add +0.1%
PRU Prudential Financial Inc. 0.07% 4,736 $511K Add +0.2%
PG The Procter & Gamble Co. 0.07% 3,481 $510K Add +31.4%
VIOO Vanguard S&P Small-Cap 600 E 0.07% 3,705 $510K No change
UNP Union Pacific Corp. 0.07% 1,837 $500K Add +0.5%
NOW ServiceNow Inc. 0.07% 4,990 $495K No change
LMT Lockheed Martin Corp. 0.07% 944 $481K Add +0.6%
DCI Donaldson Co. Inc. 0.07% 5,072 $455K Add +0.3%
COST Costco Wholesale Corp. 0.06% 471 $441K Add +2.2%
IVE iShares S&P 500 Value ETF 0.06% 1,917 $435K No change
VONV Vanguard Russell 1000 Value 0.06% 3,761 $400K No change
GIS General Mills Inc. 0.06% 11,368 $396K Reduce -0.4%
XEL Xcel Energy Inc. 0.05% 4,592 $369K No change
NVT Nvent Electric PLC 0.05% 2,120 $360K No change
VGLT Vanguard Long-Term Treasury 0.05% 6,485 $358K No change
DVY iShares Select Dividend ETF 0.05% 2,275 $356K No change
GILD Gilead Sciences Inc. 0.05% 2,792 $353K Add +0.7%
VYM Vanguard High DVD Yield ETF 0.05% 2,151 $340K New
NOC Northrop Grumman Corp. 0.05% 654 $333K No change
KXI iShares Global Consumer Stap 0.05% 4,800 $324K No change
STLD Steel Dynamics Inc. 0.04% 1,325 $304K No change
NFLX Netflix Inc. 0.04% 4,214 $301K No change
DEO Diageo PLC-Sponsored ADR 0.04% 3,702 $298K No change
INTC Intel Corp. 0.04% 2,100 $293K New
V Visa Inc. Class A 0.04% 837 $287K No change
IOO iShares Global 100 ETF 0.04% 1,929 $264K Reduce -1.2%
MPT Medical Properties Trust Inc. 0.04% 56,321 $260K No change
RTX RTX Corp. 0.04% 1,354 $257K No change
AEP American Electric Power 0.04% 1,860 $254K New
CVX Chevron Corp. 0.04% 1,505 $250K No change
BA The Boeing Co. 0.03% 1,114 $241K No change
BIL SS SPDR BB 1-3M T-Bill ETF 0.03% 2,567 $235K New
MDT Medtronic PLC 0.03% 2,979 $233K No change
CGMU Cap Group Municipal Income 0.03% 7,989 $219K New
ABT Abbott Laboratories 0.03% 2,401 $218K No change
ORI Old Republic Intl Corp. 0.03% 5,203 $213K No change
WFC Wells Fargo & Co. 0.03% 2,550 $211K No change
KO The Coca-Cola Co. 0.03% 2,499 $203K New
SRE Sempra 0.03% 2,182 $202K No change
NSPR Inspiremd Inc. 0.03% 250,370 $175K No change

Options reported separately and not counted above: QQQ puts ($663K).

Portfolio Sells Q1 2026 → Q2 2026
AKRE Akre Focus ETF Reduce -0.6% 2.83% −0.36
NVDA Nvidia Corp. Reduce -35.9% 0.27% −0.14
AAPL Apple Inc. Reduce -9.6% 1.47% −0.14
WMT Walmart Inc. Reduce -9.4% 0.27% −0.10
HON Honeywell International Inc. Sold out 0.00% −0.10
VEA Vanguard Ftse Developed ETF Reduce -0.3% 5.34% −0.09
MSFT Microsoft Corp. Reduce -1.1% 0.58% −0.08
IWD iShares Russell 1000 Value E Reduce -18.1% 0.29% −0.06
XOM Exxon Mobil Corp. Sold out 0.00% −0.06
TGT Target Corp. Reduce -20.6% 0.14% −0.04
BRK.B Berkshire Hathaway Inc. Class B Reduce -4.9% 0.30% −0.04
VWO Vanguard Ftse Emerging Marke Reduce -0.1% 1.82% −0.04
XLP SS Consumer Staples Sel Sect Reduce -3.1% 0.23% −0.03
PNR Pentair PLC Sold out 0.00% −0.03
IJH iShares Core S&P Midcap ETF Reduce -2.6% 1.82% −0.02
JPST JPMorgan Ultra-Short Income Reduce -0.1% 0.11% −0.01
VXUS Vanguard Total Intl Stock Reduce -2.9% 0.31% −0.01
GIS General Mills Inc. Reduce -0.4% 0.06% −0.01
AMZN Amazon.com Inc. Reduce -3.1% 0.57% −0.01
EFG iShares MSCI Eafe Growth ETF Reduce -1.2% 0.42% −0.01
XLV SS Health Care Select Sector Reduce -2.4% 0.13% −0.01
SPY SS SPDR S&P 500 ETF Trust-US Reduce -2.7% 0.64% −0.01
XJH Ishare ESG SS S&P Midcap ETF Reduce -3.7% 0.18% −0.00
IOO iShares Global 100 ETF Reduce -1.2% 0.04% −0.00
ABBV Abbvie Inc. Reduce -0.9% 0.10% +0.00
CGUS Cap Group Core Equity Reduce -1.4% 0.36% +0.00
ESGE iShares Inc. iShares ESG Awar Reduce -0.9% 0.40% +0.02
GOOGL Alphabet Inc. Class A Reduce -1.9% 0.48% +0.04
GOOG Alphabet Inc. Class C Reduce -1.6% 0.71% +0.05
UNH Unitedhealth Group Inc. Reduce -1.2% 0.35% +0.09
VXF Vanguard Extended Market ETF Reduce -1.0% 2.48% +0.12
VOO Vanguard S&P 500 ETF Reduce -0.1% 19.23% +0.36

Portfolio Buys Q1 2026 → Q2 2026
VTI VG Morningstar TS MKT ETF-US Add +4.2% 12.64% +0.78
IWF iShares Russell 1000 Growth Add +8.0% 4.74% +0.50
BOND PIMCO Active Bond Exchange-T Add +30.4% 1.68% +0.23
VB Vanguard Most SM-Cap ETF-Usd New 0.14% +0.14
MU Micron Technology Inc. New 0.12% +0.12
IJR iShares Core S&P Small-Cap E Add +5.5% 0.97% +0.10
VTV Vanguard Mrngstr Val ETF-Aui Add +4.3% 3.39% +0.09
VGT Vanguard Info Tech ETF Add +3.6% 0.39% +0.08
CGDV Cap Group Dividend Value Add +4.5% 1.05% +0.07
SPEM State Street SP PTF Em ETF Add +4.9% 1.95% +0.05
VYM Vanguard High DVD Yield ETF New 0.05% +0.05
QQQ Invesco QQQ Trust Series 1 Add +0.7% 0.38% +0.05
JNJ Johnson & Johnson Add +37.4% 0.20% +0.04
INTC Intel Corp. New 0.04% +0.04
AEP American Electric Power New 0.04% +0.04
IEFA iShares Core MSCI Eafe ETF Add +6.3% 5.63% +0.04
BIL SS SPDR BB 1-3M T-Bill ETF New 0.03% +0.03
CGMU Cap Group Municipal Income New 0.03% +0.03
KO The Coca-Cola Co. New 0.03% +0.03
XLK SS Technology Select Sector Add +8.2% 0.10% +0.03
CAT Caterpillar Inc. Add +4.1% 0.09% +0.03
VO Vngrd Mrngstr MD-Cap ETF-Usd Add +4.8% 0.55% +0.02
EFIV SS SPDR S&P 500 ESG ETF Add +1.6% 0.48% +0.02
IVV iShares Core S&P 500 ETF Add +0.1% 0.95% +0.02
MMM 3M Co. Add +6.5% 0.23% +0.01
PG The Procter & Gamble Co. Add +31.4% 0.07% +0.01
VT Vanguard Tot World STK ETF Add +0.3% 0.76% +0.01
NUSC Nuveen ESG Small-Cap ETF Add +1.3% 0.12% +0.00
SCHG Schwab US Large-Cap Growth Add +0.1% 0.08% +0.00
ESGD iShares Trust iShares ESG Aw Add +5.1% 0.58% +0.00
IVOO Vanguard S&P Mid-Cap 400 ETF Add +0.3% 0.09% +0.00
MAR Marriott International Class A Add +0.1% 0.20% +0.00
UNP Union Pacific Corp. Add +0.5% 0.07% 0.00
EVUS iShares ESG Aw MSCI US Value Add +1.9% 0.21% −0.00
PRU Prudential Financial Inc. Add +0.2% 0.07% −0.00
DCI Donaldson Co. Inc. Add +0.3% 0.07% −0.00
EFA iShares MSCI Eafe ETF Add +2.0% 0.23% −0.01
VIG Vanguard Dividend Apprec ETF Add +0.4% 0.48% −0.01
COST Costco Wholesale Corp. Add +2.2% 0.06% −0.01
ORCL Oracle Corp. Add +0.2% 0.09% −0.01
GILD Gilead Sciences Inc. Add +0.7% 0.05% −0.01
LMT Lockheed Martin Corp. Add +0.6% 0.07% −0.02
META Meta Platforms Inc. Class A Add +0.0% 0.37% −0.05
IXC iShares Global Energy ETF Add +0.1% 0.18% −0.06
CGCP Cap Group Core Plus Income Add +5.0% 1.19% −0.09
AGG iShares Core U.S. Aggregate Add +1.9% 14.11% −1.54

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