Financial Perspectives, Inc
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed October 22, 2025), Financial Perspectives, Inc reported 722 stock positions worth $360.6 million. Its top holding was Medtronic (MDT) at 5.7% of the portfolio, followed by Vanguard Info Tech ETF (VGT, 5.7%) and Vanguard High DVD Yield ETF (VYM, 5.6%). Compared with Q2 2025, it opened 14 new positions, sold out of 13, added to 163 and reduced 66. The biggest buy was Abbvie (ABBV, shares +1%) and the biggest sale Microsoft (MSFT, shares −1%).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0002003287
- Portfolio Value
- $360.6M (Q3 2025)
- SEC Filing
- 0002003287-25-000006 ↗ filed Oct 22, 2025
Holdings Value
Holdings 722 stocks · $360.6M
| MDT Medtronic PLC | 5.73% | 216,940 | $20.7M | Reduce -0.9% |
| VGT Vanguard Info Tech ETF | 5.72% | 27,642 | $20.6M | Reduce -3.4% |
| VYM Vanguard High DVD Yield ETF | 5.61% | 143,525 | $20.2M | Add +2.4% |
| MSFT Microsoft Corp. | 4.78% | 33,250 | $17.2M | Reduce -1.2% |
| AAPL Apple Inc. | 4.52% | 63,968 | $16.3M | Reduce -1.6% |
| BSX Boston Scientific Corp. | 3.69% | 136,167 | $13.3M | Add +1.5% |
| IVW iShares S&P 500 Growth ETF | 3.19% | 95,304 | $11.5M | Add +0.7% |
| AVGO Broadcom Inc. | 3.01% | 32,872 | $10.8M | Reduce -0.5% |
| VYMI Vanguard Int High DVD YLD Inc. | 2.92% | 124,300 | $10.5M | Add +3.5% |
| VIG Vanguard Dividend Apprec ETF | 2.77% | 46,230 | $10.0M | Add +0.2% |
| VIGI Vanguard Int Div App Indx FD | 2.65% | 106,662 | $9.6M | Add +1.7% |
| TSM Taiwan Semiconductor-SP ADR | 2.62% | 33,791 | $9.4M | Reduce -4.8% |
| HDV iShares Core High Dividend E | 2.48% | 73,115 | $9.0M | Add +1.8% |
| NVDA Nvidia Corp. | 2.34% | 45,199 | $8.4M | Reduce -1.3% |
| GOOG Alphabet Inc. Class C | 1.88% | 27,853 | $6.8M | Reduce -1.1% |
| FTEC Fidelity MSCI Info Tech Indx | 1.76% | 28,525 | $6.3M | Add +0.3% |
| FSTA Fidelity MSCI Cons Stap Indx | 1.70% | 122,768 | $6.1M | Add +2.5% |
| AMZN Amazon.com Inc. | 1.35% | 22,184 | $4.9M | Reduce -1.7% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.30% | 7,056 | $4.7M | Reduce -1.2% |
| IVV iShares Core S&P 500 ETF | 1.28% | 6,888 | $4.6M | Reduce -0.9% |
| DGRO iShares Core Dividend Growth | 1.24% | 65,721 | $4.5M | Add +5.8% |
| TSLA Tesla Inc. | 1.02% | 8,238 | $3.7M | No change |
| META Meta Platforms Inc. Class A | 0.95% | 4,685 | $3.4M | Add +4.6% |
| JPM JPMorgan Chase & Co. | 0.92% | 10,543 | $3.3M | Add +8.5% |
| MELI MercadoLibre Inc. | 0.86% | 1,323 | $3.1M | No change |
| ABBV Abbvie Inc. | 0.85% | 13,230 | $3.1M | Add +0.7% |
| VDC Vanguard Consumer Staple ETF | 0.80% | 13,465 | $2.9M | Add +4.4% |
| SHOP Shopify Inc. Class A | 0.78% | 18,858 | $2.8M | Reduce -0.3% |
| VOO Vanguard S&P 500 ETF | 0.75% | 4,438 | $2.7M | Reduce -4.9% |
| IYW iShares Ustechnology ETF | 0.69% | 12,661 | $2.5M | Add +1.6% |
| JPST JPMorgan Ultra-Short Income | 0.68% | 47,983 | $2.4M | Add +0.4% |
| SE Sea Ltd.-ADR | 0.66% | 13,354 | $2.4M | No change |
| CGGR Cap Group Growth Equity | 0.61% | 50,273 | $2.2M | Add +2.7% |
| IDV iShares International Select | 0.60% | 59,515 | $2.2M | Add +0.7% |
| MMM 3M Co. | 0.59% | 13,822 | $2.1M | Reduce -1.4% |
| CGGO Cap Group Global Growth filed as CAPITAL GROUP GBL GROWTH EQT | 0.56% | 59,468 | $2.0M | Add +5.3% |
| QQQ Invesco QQQ Trust Series 1 | 0.55% | 3,284 | $2.0M | Add +3.8% |
| ASML ASML Holding NV-NY Reg SHS | 0.52% | 1,929 | $1.9M | Add +0.1% |
| SCHD Schwab US DVD Equity ETF | 0.50% | 66,247 | $1.8M | Add +22.1% |
| IWF iShares Russell 1000 Growth | 0.44% | 3,390 | $1.6M | Add +1.4% |
| UNH Unitedhealth Group Inc. | 0.43% | 4,445 | $1.5M | Add +2.1% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.42% | 2,993 | $1.5M | Reduce -4.9% |
| JNJ Johnson & Johnson | 0.42% | 8,108 | $1.5M | Add +3.1% |
| FENY Fidelity MSCI Energy Index | 0.39% | 56,617 | $1.4M | Reduce -0.9% |
| ORCL Oracle Corp. | 0.35% | 4,529 | $1.3M | Reduce -0.1% |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.35% | 6,762 | $1.3M | Add +1.4% |
| ABT Abbott Laboratories | 0.32% | 8,568 | $1.1M | Add +1.2% |
| IETC iShares U.S. Tech Independen | 0.30% | 10,722 | $1.1M | Add +0.1% |
| COST Costco Wholesale Corp. | 0.30% | 1,157 | $1.1M | Add +3.3% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.29% | 24,230 | $1.0M | No change |
| VEA Vanguard Ftse Developed ETF | 0.29% | 17,264 | $1.0M | Add +0.1% |
| TDIV FT Nasdaq Tech DVD Index FD | 0.28% | 10,372 | $1.0M | Add +0.0% |
| AMGN Amgen Inc. | 0.28% | 3,591 | $1.0M | Add +0.4% |
| IWM iShares Russell 2000 ETF | 0.28% | 4,125 | $998K | Add +6.2% |
| USB US Bancorp | 0.27% | 20,183 | $975K | Add +0.1% |
| GOOGL Alphabet Inc. Class A | 0.27% | 3,932 | $956K | Reduce -4.0% |
| GIS General Mills Inc. | 0.26% | 18,374 | $926K | Add +0.6% |
| GILD Gilead Sciences Inc. | 0.25% | 8,055 | $894K | Add +0.0% |
| SMH Vaneck Semiconductor ETF | 0.24% | 2,694 | $879K | No change |
| VCR Vanguard Consumer Discre ETF | 0.24% | 2,207 | $874K | Add +2.3% |
| VHT Vanguard Health Care ETF | 0.24% | 3,316 | $861K | Add +0.1% |
| VDE Vanguard Energy ETF | 0.23% | 6,716 | $845K | Add +0.8% |
| VNQ Vanguard Real Estate ETF | 0.23% | 9,226 | $843K | Add +0.0% |
| CNQ Canadian Natural Resources | 0.23% | 25,831 | $826K | Add +58.6% |
| VTI VG Morningstar TS MKT ETF-US | 0.21% | 2,357 | $773K | Reduce -0.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.21% | 1,571 | $753K | Reduce -10.0% |
| VT Vanguard Tot World STK ETF | 0.21% | 5,423 | $747K | Add +14.0% |
| HDB HDFC Bank Ltd.-ADR | 0.20% | 21,538 | $736K | No change |
| IFRA iShares US Infrastructure | 0.20% | 13,635 | $720K | No change |
| HD Home Depot Inc. | 0.20% | 1,776 | $720K | Add +0.1% |
| MU Micron Technology Inc. | 0.20% | 4,260 | $713K | Add +34.8% |
| CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE | 0.19% | 16,119 | $677K | Add +0.1% |
| EFV iShares MSCI Eafe Value ETF | 0.19% | 9,871 | $670K | Add +7.7% |
| MA Mastercard Inc. Class A | 0.18% | 1,147 | $652K | Reduce -0.1% |
| BN Brookfield Corp. | 0.18% | 9,343 | $641K | Reduce -1.6% |
| IEFA iShares Core MSCI Eafe ETF | 0.18% | 7,321 | $639K | Add +11.9% |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.18% | 5,578 | $639K | Reduce -0.1% |
| NVO Novo-Nordisk A/S-Spons ADR | 0.18% | 11,379 | $631K | Add +1.1% |
| RBRK Rubrik Inc. Class A | 0.17% | 7,505 | $617K | No change |
| HON Honeywell International Inc. | 0.17% | 2,882 | $607K | Reduce -3.1% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.17% | 37,517 | $601K | No change |
| SRE Sempra | 0.16% | 6,296 | $566K | Add +0.7% |
| IJR iShares Core S&P Small-Cap E | 0.16% | 4,744 | $564K | Reduce -1.8% |
| CAT Caterpillar Inc. | 0.15% | 1,148 | $548K | Add +9.5% |
| MO Altria Group Inc. | 0.15% | 8,125 | $537K | Add +0.7% |
| IMCB iShares Morningstar Mid-Cap | 0.15% | 6,383 | $530K | Add +4.0% |
| BIPC Brookfield Infrastructure-A | 0.14% | 12,655 | $520K | Reduce -1.6% |
| LLY Eli Lilly & Co. | 0.14% | 678 | $517K | Add +22.8% |
| GE General Electric filed as GE AEROSPACE | 0.14% | 1,715 | $516K | Reduce -2.8% |
| T AT&T Inc. | 0.14% | 18,160 | $513K | Reduce -8.5% |
| IEMG iShares Core MSCI Emerging | 0.14% | 7,738 | $510K | Reduce -0.8% |
| NOW ServiceNow Inc. | 0.14% | 545 | $502K | No change |
| CMCSA Comcast Corp. Class A | 0.14% | 15,751 | $495K | Reduce -3.5% |
| EFG iShares MSCI Eafe Growth ETF | 0.14% | 4,307 | $490K | Add +11.2% |
| PLTR Palantir Technologies Inc. Class A | 0.14% | 2,675 | $488K | Reduce -5.3% |
| ISRG Intuitive Surgical Inc. | 0.14% | 1,091 | $488K | No change |
| FELC Fidelity Enh LRG Cap Cor ETF | 0.13% | 12,849 | $479K | Add +18.6% |
| PFE Pfizer Inc. | 0.13% | 18,342 | $467K | Add +0.1% |
| CARR Carrier Global Corp. | 0.13% | 7,773 | $464K | No change |
| IJH iShares Core S&P Midcap ETF | 0.13% | 7,015 | $458K | Add +17.8% |
Other holdings (2): bonds, preferreds, convertibles and warrants · $24K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | 15,000 | $15K | No change |
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 10,000 | $9K | No change |
Total filed on the 13F, all lines: $360.6M.
Portfolio Sells Q2 2025 → Q3 2025
| MSFT Microsoft Corp. | Reduce -1.2% | 4.78% | −0.29 |
| AMZN Amazon.com Inc. | Reduce -1.7% | 1.35% | −0.15 |
| MMM 3M Co. | Reduce -1.4% | 0.59% | −0.05 |
| VOO Vanguard S&P 500 ETF | Reduce -4.9% | 0.75% | −0.05 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -4.9% | 0.42% | −0.04 |
| HON Honeywell International Inc. | Reduce -3.1% | 0.17% | −0.04 |
| MDT Medtronic PLC | Reduce -0.9% | 5.73% | −0.04 |
| CMCSA Comcast Corp. Class A | Reduce -3.5% | 0.14% | −0.04 |
| OGIG Alps Oshares Global Internet | Reduce -79.5% | 0.01% | −0.03 |
| DIS The Walt Disney Co. | Reduce -0.1% | 0.18% | −0.03 |
| T AT&T Inc. | Reduce -8.5% | 0.14% | −0.03 |
| SPY SS SPDR S&P 500 ETF Trust-US | Reduce -1.2% | 1.30% | −0.03 |
| IVV iShares Core S&P 500 ETF | Reduce -0.9% | 1.28% | −0.03 |
| VUG Vanguard Mrngstar GR ETF-Sui | Reduce -10.0% | 0.21% | −0.02 |
| SOLV Solventum Corp. | Reduce -19.0% | 0.05% | −0.02 |
| V Visa Inc. Class A | Reduce -1.0% | 0.13% | −0.02 |
| IGSB iShares 1-5Y Inv Grade Corp. | Reduce -20.3% | 0.05% | −0.02 |
| TGT Target Corp. | Reduce -0.3% | 0.09% | −0.02 |
| BIPC Brookfield Infrastructure-A | Reduce -1.6% | 0.14% | −0.02 |
| FENY Fidelity MSCI Energy Index | Reduce -0.9% | 0.39% | −0.02 |
| EFAV iShares MSCI Eafe Min Vol Fa | Reduce -4.4% | 0.11% | −0.01 |
| MA Mastercard Inc. Class A | Reduce -0.1% | 0.18% | −0.01 |
| XOM Exxon Mobil Corp. | Reduce -6.0% | 0.12% | −0.01 |
| CSCO Cisco Systems Inc. | Reduce -5.2% | 0.07% | −0.01 |
| VGT Vanguard Info Tech ETF | Reduce -3.4% | 5.72% | −0.01 |
| CVX Chevron Corp. | Reduce -12.4% | 0.08% | −0.01 |
| ROST Ross Stores Inc. | Reduce -89.8% | 0.00% | −0.01 |
| CSR Centerspace | Sold out | 0.00% | −0.01 |
| NFLX Netflix Inc. | Reduce -13.0% | 0.02% | −0.01 |
| SKX Skechers USA Inc. Class A | Sold out | 0.00% | −0.00 |
| PHM Pultegroup Inc. | Reduce -39.0% | 0.01% | −0.00 |
| IJR iShares Core S&P Small-Cap E | Reduce -1.8% | 0.16% | −0.00 |
| VTI VG Morningstar TS MKT ETF-US | Reduce -0.3% | 0.21% | −0.00 |
| BAM Brookfield Asset Mgmt-A | Reduce -4.8% | 0.02% | −0.00 |
| WFC Wells Fargo & Co. | Reduce -5.2% | 0.03% | −0.00 |
| LIT Global X Lithium & Battery T | Sold out | 0.00% | −0.00 |
| IWR iShares Russell Mid-Cap ETF | Reduce -3.9% | 0.03% | −0.00 |
| MCK McKesson Corp. | Reduce -3.5% | 0.03% | −0.00 |
| IWD iShares Russell 1000 Value E | Reduce -8.7% | 0.01% | −0.00 |
| PARAA Paramount Global Class B | Sold out | 0.00% | −0.00 |
| ARKG ARK Genomic Revolution ETF | Reduce -9.9% | 0.02% | −0.00 |
| AEP American Electric Power | Reduce -20.4% | 0.00% | −0.00 |
| CHTR Charter Communications Inc. Class A | Sold out | 0.00% | −0.00 |
| SONY Sony Group Corp. - SP ADR | Sold out | 0.00% | −0.00 |
| WELL Welltower Inc. | Reduce -11.3% | 0.01% | −0.00 |
| PCYO Pure Cycle Corp. | Sold out | 0.00% | −0.00 |
| RBLX Roblox Corp. Class A | Reduce -47.1% | 0.00% | −0.00 |
| BAC Bank of America Corp. | Reduce -0.5% | 0.10% | −0.00 |
| DCI Donaldson Co. Inc. | Sold out | 0.00% | −0.00 |
| IWS iShares Russell Mid-Cap Valu | Sold out | 0.00% | −0.00 |
Portfolio Buys Q2 2025 → Q3 2025
| ABBV Abbvie Inc. | Add +0.7% | 0.85% | +0.11 |
| MU Micron Technology Inc. | Add +34.8% | 0.20% | +0.08 |
| CNQ Canadian Natural Resources | Add +58.6% | 0.23% | +0.07 |
| JPM JPMorgan Chase & Co. | Add +8.5% | 0.92% | +0.07 |
| UBER Uber Technologies Inc. | New | 0.07% | +0.07 |
| SCHD Schwab US DVD Equity ETF | Add +22.1% | 0.50% | +0.07 |
| FTEC Fidelity MSCI Info Tech Indx | Add +0.3% | 1.76% | +0.06 |
| CGCB Cap Group Core Bond | Add +129.7% | 0.10% | +0.05 |
| JNJ Johnson & Johnson | Add +3.1% | 0.42% | +0.05 |
| CEG Constellation Energy | Add +368.8% | 0.07% | +0.05 |
| ASML ASML Holding NV-NY Reg SHS | Add +0.1% | 0.52% | +0.05 |
| WM Waste Management Inc. | Add +87.6% | 0.11% | +0.05 |
| DGRO iShares Core Dividend Growth | Add +5.8% | 1.24% | +0.04 |
| IVW iShares S&P 500 Growth ETF | Add +0.7% | 3.19% | +0.04 |
| DE Deere & Co. | Add +94.8% | 0.10% | +0.04 |
| IYW iShares Ustechnology ETF | Add +1.6% | 0.69% | +0.03 |
| VALE Vale SA-SP ADR | Add +33.1% | 0.12% | +0.03 |
| CAT Caterpillar Inc. | Add +9.5% | 0.15% | +0.03 |
| IWM iShares Russell 2000 ETF | Add +6.2% | 0.28% | +0.02 |
| VT Vanguard Tot World STK ETF | Add +14.0% | 0.21% | +0.02 |
| FELC Fidelity Enh LRG Cap Cor ETF | Add +18.6% | 0.13% | +0.02 |
| CGMS Cap Group US Multi-Sect Bond | Add +142.7% | 0.03% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +3.8% | 0.55% | +0.02 |
| IVE iShares S&P 500 Value ETF | Add +70.0% | 0.05% | +0.02 |
| BABA Alibaba Group Holding-SP ADR | Add +0.7% | 0.06% | +0.02 |
| CGGO Cap Group Global Growth | Add +5.3% | 0.56% | +0.02 |
| IJH iShares Core S&P Midcap ETF | Add +17.8% | 0.13% | +0.02 |
| UNH Unitedhealth Group Inc. | Add +2.1% | 0.43% | +0.01 |
| SRE Sempra | Add +0.7% | 0.16% | +0.01 |
| CGCP Cap Group Core Plus Income | Add +34.4% | 0.07% | +0.01 |
| LLY Eli Lilly & Co. | Add +22.8% | 0.14% | +0.01 |
| VXF Vanguard Extended Market ETF | Add +81.7% | 0.03% | +0.01 |
| IEFA iShares Core MSCI Eafe ETF | Add +11.9% | 0.18% | +0.01 |
| IWF iShares Russell 1000 Growth | Add +1.4% | 0.44% | +0.01 |
| CGGR Cap Group Growth Equity | Add +2.7% | 0.61% | +0.01 |
| CGBL Cap Group Core Balanced | Add +23.8% | 0.07% | +0.01 |
| EFV iShares MSCI Eafe Value ETF | Add +7.7% | 0.19% | +0.01 |
| CGGE Cap Group Global Eq | New | 0.01% | +0.01 |
| VYMI Vanguard Int High DVD YLD Inc. | Add +3.5% | 2.92% | +0.01 |
| WWD Woodward Inc. | New | 0.01% | +0.01 |
| FAST Fastenal Co. | Add +414.0% | 0.01% | +0.01 |
| FESM Fidelity Enhanced Small Cap | Add +1.7% | 0.12% | +0.01 |
| NEE Nextera Energy Inc. | Add +19.7% | 0.04% | +0.01 |
| CGUS Cap Group Core Equity | Add +43.4% | 0.02% | +0.01 |
| MCD McDonald's Corp. | Add +13.9% | 0.09% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | Add +30.9% | 0.03% | +0.01 |
| IJK iShares S&P Mid-Cap 400 Grow | Add +27.6% | 0.03% | +0.01 |
| VCR Vanguard Consumer Discre ETF | Add +2.3% | 0.24% | +0.01 |
| TRV The Travelers Cos Inc. | Add +31.0% | 0.03% | +0.01 |
| MO Altria Group Inc. | Add +0.7% | 0.15% | +0.01 |
Notes & Other Activity Q2 2025 → Q3 2025
| LENDINGTREE INC (TREE 0.5 07/15/25) | NOTE 0.500% 7/1 · principal | Sold out | 10,000 | $10Kbefore exit |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 727 | $410.9M | VGT, VYM, AAPL, MDT, TSM |
| Q1 2026 | 715 | $358.2M | VYM, VGT, MDT, AAPL, VYMI |
| Q4 2025 | 713 | $371.2M | VGT, MDT, VYM, AAPL, MSFT |
| Q3 2025 | 722 | $360.6M | MDT, VGT, VYM, MSFT, AAPL |
| Q2 2025 | 721 | $330.8M | MDT, VGT, VYM, MSFT, BSX |
| Q1 2025 | 716 | $292.1M | MDT, VYM, VGT, AAPL, BSX |
| Q4 2024 | 723 | $297.7M | MDT, VYM, VGT, AAPL, MSFT |
| Q3 2024 | 685 | $288.5M | MDT, VYM, AAPL, MSFT, VGT |
| Q2 2024 | 681 | $270.8M | MDT, VYM, MSFT, VGT, AAPL |
| Q1 2024 | 669 | $263.8M | MDT, VYM, MSFT, VGT, AAPL |