Financial Perspectives, Inc
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 28, 2026), Financial Perspectives, Inc reported 713 stock positions worth $371.2 million. Its top holding was Vanguard Info Tech ETF (VGT) at 5.6% of the portfolio, followed by Medtronic (MDT, 5.6%) and Vanguard High DVD Yield ETF (VYM, 5.6%). Compared with Q3 2025, it opened 28 new positions, sold out of 40, added to 165 and reduced 82. The biggest buy was Vanguard Int High DVD YLD (VYMI, shares +8%) and the biggest sale Microsoft (MSFT, shares −0%).
- Most Recent 13F
- Q2 2026
- Location
- MINNEAPOLIS, MN
- CIK
- 0002003287
- Portfolio Value
- $371.2M (Q4 2025)
- SEC Filing
- 0002003287-26-000001 ↗ filed Jan 28, 2026
Holdings Value
Holdings 713 stocks · $371.2M
| VGT Vanguard Info Tech ETF | 5.65% | 27,803 | $21.0M | Add +0.6% |
| MDT Medtronic PLC | 5.62% | 217,302 | $20.9M | Add +0.2% |
| VYM Vanguard High DVD Yield ETF | 5.58% | 144,312 | $20.7M | Add +0.6% |
| AAPL Apple Inc. | 4.68% | 63,890 | $17.4M | Reduce -0.1% |
| MSFT Microsoft Corp. | 4.33% | 33,225 | $16.1M | Reduce -0.1% |
| BSX Boston Scientific Corp. | 3.47% | 135,167 | $12.9M | Reduce -0.7% |
| IVW iShares S&P 500 Growth ETF | 3.28% | 98,702 | $12.2M | Add +3.6% |
| VYMI Vanguard Int High DVD YLD Inc. | 3.24% | 133,702 | $12.0M | Add +7.6% |
| AVGO Broadcom Inc. | 3.03% | 32,483 | $11.2M | Reduce -1.2% |
| TSM Taiwan Semiconductor-SP ADR | 2.75% | 33,546 | $10.2M | Reduce -0.7% |
| VIG Vanguard Dividend Apprec ETF | 2.70% | 45,674 | $10.0M | Reduce -1.2% |
| VIGI Vanguard Int Div App Indx FD | 2.68% | 108,917 | $10.0M | Add +2.1% |
| HDV iShares Core High Dividend E | 2.43% | 74,187 | $9.0M | Add +1.5% |
| GOOG Alphabet Inc. Class C | 2.33% | 27,615 | $8.7M | Reduce -0.8% |
| NVDA Nvidia Corp. | 2.26% | 45,051 | $8.4M | Reduce -0.3% |
| FTEC Fidelity MSCI Info Tech Indx | 1.76% | 29,120 | $6.5M | Add +2.1% |
| FSTA Fidelity MSCI Cons Stap Indx | 1.72% | 129,789 | $6.4M | Add +5.7% |
| IVV iShares Core S&P 500 ETF | 1.38% | 7,485 | $5.1M | Add +8.7% |
| AMZN Amazon.com Inc. | 1.38% | 22,181 | $5.1M | Reduce -0.0% |
| SPY SS SPDR S&P 500 ETF Trust-US | 1.31% | 7,112 | $4.8M | Add +0.8% |
| DGRO iShares Core Dividend Growth | 1.30% | 69,403 | $4.8M | Add +5.6% |
| TSLA Tesla Inc. | 1.05% | 8,627 | $3.9M | Add +4.7% |
| JPM JPMorgan Chase & Co. | 0.92% | 10,544 | $3.4M | Add +0.0% |
| SHOP Shopify Inc. Class A | 0.82% | 18,858 | $3.0M | No change |
| ABBV Abbvie Inc. | 0.81% | 13,214 | $3.0M | Reduce -0.1% |
| VDC Vanguard Consumer Staple ETF | 0.81% | 14,154 | $3.0M | Add +5.1% |
| META Meta Platforms Inc. Class A | 0.78% | 4,403 | $2.9M | Reduce -6.0% |
| VOO Vanguard S&P 500 ETF | 0.76% | 4,493 | $2.8M | Add +1.2% |
| MELI MercadoLibre Inc. | 0.72% | 1,323 | $2.7M | No change |
| IYW iShares Ustechnology ETF | 0.69% | 12,796 | $2.6M | Add +1.1% |
| JPST JPMorgan Ultra-Short Income | 0.65% | 47,458 | $2.4M | Reduce -1.1% |
| IDV iShares International Select | 0.64% | 60,522 | $2.4M | Add +1.7% |
| CGGO Cap Group Global Growth filed as CAPITAL GROUP GBL GROWTH EQT | 0.64% | 68,567 | $2.4M | Add +15.3% |
| CGGR Cap Group Growth Equity | 0.62% | 51,957 | $2.3M | Add +3.4% |
| MMM 3M Co. | 0.58% | 13,524 | $2.2M | Reduce -2.2% |
| QQQ Invesco QQQ Trust Series 1 | 0.57% | 3,422 | $2.1M | Add +4.2% |
| ASML ASML Holding NV-NY Reg SHS | 0.55% | 1,893 | $2.0M | Reduce -1.9% |
| SCHD Schwab US DVD Equity ETF | 0.49% | 66,564 | $1.8M | Add +0.5% |
| IWF iShares Russell 1000 Growth | 0.46% | 3,641 | $1.7M | Add +7.4% |
| SE Sea Ltd.-ADR | 0.46% | 13,274 | $1.7M | Reduce -0.6% |
| JNJ Johnson & Johnson | 0.45% | 8,088 | $1.7M | Reduce -0.3% |
| BRK.B Berkshire Hathaway Inc. Class B | 0.41% | 2,993 | $1.5M | No change |
| VTV Vanguard Mrngstr Val ETF-Aui | 0.38% | 7,467 | $1.4M | Add +10.4% |
| UNH Unitedhealth Group Inc. | 0.38% | 4,292 | $1.4M | Reduce -3.4% |
| FENY Fidelity MSCI Energy Index | 0.38% | 56,641 | $1.4M | Add +0.0% |
| GOOGL Alphabet Inc. Class A | 0.33% | 3,918 | $1.2M | Reduce -0.4% |
| MU Micron Technology Inc. | 0.33% | 4,261 | $1.2M | Add +0.0% |
| AMGN Amgen Inc. | 0.32% | 3,662 | $1.2M | Add +2.0% |
| CNQ Canadian Natural Resources | 0.31% | 33,516 | $1.1M | Add +29.8% |
| IETC iShares U.S. Tech Independen | 0.30% | 10,859 | $1.1M | Add +1.3% |
| FNDF Schwab Fndmn Intl LRG Co. ETF | 0.30% | 24,230 | $1.1M | No change |
| VEA Vanguard Ftse Developed ETF | 0.29% | 17,292 | $1.1M | Add +0.2% |
| USB US Bancorp | 0.29% | 20,205 | $1.1M | Add +0.1% |
| ABT Abbott Laboratories | 0.29% | 8,568 | $1.1M | No change |
| COST Costco Wholesale Corp. | 0.28% | 1,197 | $1.0M | Add +3.5% |
| IWM iShares Russell 2000 ETF | 0.28% | 4,162 | $1.0M | Add +0.9% |
| GILD Gilead Sciences Inc. | 0.27% | 8,055 | $989K | No change |
| SMH Vaneck Semiconductor ETF | 0.26% | 2,694 | $970K | No change |
| VHT Vanguard Health Care ETF | 0.26% | 3,319 | $955K | Add +0.1% |
| TDIV FT Nasdaq Tech DVD Index FD | 0.26% | 9,831 | $952K | Reduce -5.2% |
| VCR Vanguard Consumer Discre ETF | 0.24% | 2,287 | $901K | Add +3.6% |
| ORCL Oracle Corp. | 0.24% | 4,533 | $884K | Add +0.1% |
| CGDV Cap Group Dividend Value filed as CAPITAL GROUP DIVIDEND VALUE | 0.23% | 19,617 | $856K | Add +21.7% |
| HDB HDFC Bank Ltd.-ADR | 0.23% | 23,119 | $845K | Add +7.3% |
| VT Vanguard Tot World STK ETF | 0.22% | 5,916 | $835K | Add +9.1% |
| VNQ Vanguard Real Estate ETF | 0.22% | 9,164 | $811K | Reduce -0.7% |
| VTI VG Morningstar TS MKT ETF-US | 0.22% | 2,387 | $800K | Add +1.3% |
| EFV iShares MSCI Eafe Value ETF | 0.21% | 11,007 | $786K | Add +11.5% |
| VDE Vanguard Energy ETF | 0.21% | 6,223 | $784K | Reduce -7.3% |
| VUG Vanguard Mrngstar GR ETF-Sui | 0.21% | 1,573 | $767K | Add +0.1% |
| IEFA iShares Core MSCI Eafe ETF | 0.20% | 8,123 | $727K | Add +10.9% |
| IFRA iShares US Infrastructure | 0.19% | 13,635 | $717K | No change |
| LLY Eli Lilly & Co. | 0.19% | 645 | $693K | Reduce -4.9% |
| EFG iShares MSCI Eafe Growth ETF | 0.18% | 5,861 | $668K | Add +36.1% |
| IMCB iShares Morningstar Mid-Cap | 0.18% | 8,036 | $665K | Add +25.9% |
| MA Mastercard Inc. Class A | 0.18% | 1,147 | $655K | No change |
| BN Brookfield Corp. | 0.17% | 14,013 | $643K | No change |
| DIS The Walt Disney Co. filed as DISNEY WALT CO | 0.17% | 5,578 | $635K | No change |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.17% | 37,725 | $632K | Add +0.6% |
| GIS General Mills Inc. | 0.17% | 13,484 | $627K | Reduce -26.6% |
| ISRG Intuitive Surgical Inc. | 0.17% | 1,091 | $618K | No change |
| HD Home Depot Inc. | 0.16% | 1,758 | $605K | Reduce -1.0% |
| IJR iShares Core S&P Small-Cap E | 0.16% | 4,912 | $590K | Add +3.5% |
| BIPC Brookfield Infrastructure-A | 0.15% | 12,661 | $575K | Add +0.1% |
| RBRK Rubrik Inc. Class A | 0.15% | 7,505 | $574K | No change |
| NVO Novo-Nordisk A/S-Spons ADR | 0.15% | 11,256 | $573K | Reduce -1.1% |
| FELC Fidelity Enh LRG Cap Cor ETF | 0.15% | 14,682 | $560K | Add +14.3% |
| CGCB Cap Group Core Bond | 0.15% | 21,052 | $558K | Add +52.7% |
| HON Honeywell International Inc. | 0.15% | 2,850 | $556K | Reduce -1.1% |
| SRE Sempra | 0.15% | 6,158 | $544K | Reduce -2.2% |
| GE General Electric filed as GE AEROSPACE | 0.14% | 1,700 | $524K | Reduce -0.9% |
| AMD Advanced Micro Devices | 0.14% | 2,442 | $523K | No change |
| IEMG iShares Core MSCI Emerging | 0.14% | 7,690 | $517K | Reduce -0.6% |
| VALE Vale SA-SP ADR | 0.14% | 39,316 | $512K | No change |
| MDB Mongodb Inc. | 0.13% | 1,172 | $492K | Add +68.2% |
| IJH iShares Core S&P Midcap ETF | 0.13% | 7,187 | $474K | Add +2.5% |
| CMCSA Comcast Corp. Class A | 0.13% | 15,821 | $473K | Add +0.4% |
| V Visa Inc. Class A | 0.13% | 1,340 | $470K | No change |
| WMT Walmart Inc. | 0.13% | 4,168 | $464K | No change |
| IGRO iShares Intl Div Growth ETF | 0.12% | 5,595 | $463K | Add +0.6% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $10K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| TELADOC HEALTH INC (TDOC 1.25 06/01/27) | NOTE 1.250% 6/0 · principal | 10,000 | $10K | No change |
Total filed on the 13F, all lines: $371.2M.
Portfolio Sells Q3 2025 → Q4 2025
| MSFT Microsoft Corp. | Reduce -0.1% | 4.33% | −0.45 |
| BSX Boston Scientific Corp. | Reduce -0.7% | 3.47% | −0.21 |
| SE Sea Ltd.-ADR | Reduce -0.6% | 0.46% | −0.21 |
| META Meta Platforms Inc. Class A | Reduce -6.0% | 0.78% | −0.17 |
| MO Altria Group Inc. | Reduce -97.0% | 0.00% | −0.15 |
| GIS General Mills Inc. | Reduce -26.6% | 0.17% | −0.09 |
| NVDA Nvidia Corp. | Reduce -0.3% | 2.26% | −0.07 |
| VIG Vanguard Dividend Apprec ETF | Reduce -1.2% | 2.70% | −0.06 |
| MSTR Strategy Inc. | Reduce -40.7% | 0.02% | −0.06 |
| CAT Caterpillar Inc. | Reduce -43.5% | 0.10% | −0.05 |
| SRDX Surmodics Inc. | Sold out | 0.00% | −0.05 |
| UNH Unitedhealth Group Inc. | Reduce -3.4% | 0.38% | −0.04 |
| HD Home Depot Inc. | Reduce -1.0% | 0.16% | −0.04 |
| ABBV Abbvie Inc. | Reduce -0.1% | 0.81% | −0.04 |
| GM General Motors Co. | Reduce -88.5% | 0.01% | −0.03 |
| JPST JPMorgan Ultra-Short Income | Reduce -1.1% | 0.65% | −0.03 |
| TDIV FT Nasdaq Tech DVD Index FD | Reduce -5.2% | 0.26% | −0.03 |
| T AT&T Inc. | Reduce -4.9% | 0.12% | −0.03 |
| VDE Vanguard Energy ETF | Reduce -7.3% | 0.21% | −0.02 |
| PDX PIMCO Dynamic Income Strat | Sold out | 0.00% | −0.02 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -1.1% | 0.15% | −0.02 |
| XOM Exxon Mobil Corp. | Reduce -19.6% | 0.10% | −0.02 |
| F Ford Motor Co. | Reduce -58.1% | 0.02% | −0.02 |
| HON Honeywell International Inc. | Reduce -1.1% | 0.15% | −0.02 |
| ARKK ARK Innovation ETF | Reduce -29.1% | 0.03% | −0.02 |
| VNQ Vanguard Real Estate ETF | Reduce -0.7% | 0.22% | −0.02 |
| ALE Allete Inc. | Sold out | 0.00% | −0.02 |
| PLTR Palantir Technologies Inc. Class A | Reduce -3.7% | 0.12% | −0.01 |
| ARKW ARK Next Generation Technolo | Reduce -5.0% | 0.04% | −0.01 |
| MMM 3M Co. | Reduce -2.2% | 0.58% | −0.01 |
| NEE Nextera Energy Inc. | Reduce -28.0% | 0.03% | −0.01 |
| ICSH iShares Ultra Short Duration | Reduce -17.3% | 0.05% | −0.01 |
| SRE Sempra | Reduce -2.2% | 0.15% | −0.01 |
| WWD Woodward Inc. | Sold out | 0.00% | −0.01 |
| HYI Western Asset High Yield Opp | Sold out | 0.00% | −0.01 |
| VZ Verizon Communications Inc. | Reduce -3.6% | 0.04% | −0.01 |
| AGNC AGNC Investment Corp. | Sold out | 0.00% | −0.01 |
| FTHY First Trust Hi YLD Opp 2027 | Sold out | 0.00% | −0.01 |
| AMLP Alerian MLP ETF | Sold out | 0.00% | −0.01 |
| BXSL Blackstone Secured Lending F | Sold out | 0.00% | −0.00 |
| ALC Alcon Inc. | Reduce -83.3% | 0.00% | −0.00 |
| NFLX Netflix Inc. | Reduce -4.3% | 0.01% | −0.00 |
| VICE Advisorshares Vice ETF | Reduce -0.7% | 0.02% | −0.00 |
| XLE SS Energy Select Sector | Reduce -2.3% | 0.08% | −0.00 |
| ARKG ARK Genomic Revolution ETF | Reduce -22.4% | 0.01% | −0.00 |
| LADR Ladder Capital Corp.-REIT | Sold out | 0.00% | −0.00 |
| BRSP Brightspire Capital Inc. | Sold out | 0.00% | −0.00 |
| ASB Associated Banc-Corp. | Reduce -1.4% | 0.08% | −0.00 |
| CPNG Coupang Inc. | Reduce -1.8% | 0.01% | −0.00 |
| STLA Stellantis NV | Sold out | 0.00% | −0.00 |
Portfolio Buys Q3 2025 → Q4 2025
| VYMI Vanguard Int High DVD YLD Inc. | Add +7.6% | 3.24% | +0.32 |
| MU Micron Technology Inc. | Add +0.0% | 0.33% | +0.13 |
| IVV iShares Core S&P 500 ETF | Add +8.7% | 1.38% | +0.10 |
| IVW iShares S&P 500 Growth ETF | Add +3.6% | 3.28% | +0.09 |
| CNQ Canadian Natural Resources | Add +29.8% | 0.31% | +0.08 |
| CGGO Cap Group Global Growth | Add +15.3% | 0.64% | +0.08 |
| MDB Mongodb Inc. | Add +68.2% | 0.13% | +0.07 |
| NET Cloudflare Inc. Class A | Add +160.7% | 0.11% | +0.06 |
| DGRO iShares Core Dividend Growth | Add +5.6% | 1.30% | +0.06 |
| CGCB Cap Group Core Bond | Add +52.7% | 0.15% | +0.05 |
| EFG iShares MSCI Eafe Growth ETF | Add +36.1% | 0.18% | +0.04 |
| CGDV Cap Group Dividend Value | Add +21.7% | 0.23% | +0.04 |
| AMGN Amgen Inc. | Add +2.0% | 0.32% | +0.04 |
| IDV iShares International Select | Add +1.7% | 0.64% | +0.04 |
| VTV Vanguard Mrngstr Val ETF-Aui | Add +10.4% | 0.38% | +0.03 |
| VIGI Vanguard Int Div App Indx FD | Add +2.1% | 2.68% | +0.03 |
| IMCB iShares Morningstar Mid-Cap | Add +25.9% | 0.18% | +0.03 |
| TSLA Tesla Inc. | Add +4.7% | 1.05% | +0.03 |
| SGOV iShares 0-3 Month Treasury B | New | 0.03% | +0.03 |
| EFV iShares MSCI Eafe Value ETF | Add +11.5% | 0.21% | +0.03 |
| CGCP Cap Group Core Plus Income | Add +40.9% | 0.10% | +0.03 |
| ECL Ecolab Inc. | Add +48.3% | 0.09% | +0.02 |
| IWF iShares Russell 1000 Growth | Add +7.4% | 0.46% | +0.02 |
| HDB HDFC Bank Ltd.-ADR | Add +7.3% | 0.23% | +0.02 |
| FSTA Fidelity MSCI Cons Stap Indx | Add +5.7% | 1.72% | +0.02 |
| USRT iShares Core US REIT ETF | New | 0.02% | +0.02 |
| USB US Bancorp | Add +0.1% | 0.29% | +0.02 |
| QQQ Invesco QQQ Trust Series 1 | Add +4.2% | 0.57% | +0.02 |
| VHT Vanguard Health Care ETF | Add +0.1% | 0.26% | +0.02 |
| IEFA iShares Core MSCI Eafe ETF | Add +10.9% | 0.20% | +0.02 |
| FELC Fidelity Enh LRG Cap Cor ETF | Add +14.3% | 0.15% | +0.02 |
| VT Vanguard Tot World STK ETF | Add +9.1% | 0.22% | +0.02 |
| IBIT iShares Bitcoin Trust ETF | Add +1078.4% | 0.02% | +0.02 |
| SVOL Simplify Volatility Premium | New | 0.02% | +0.02 |
| CGMS Cap Group US Multi-Sect Bond | Add +43.7% | 0.05% | +0.01 |
| FTMN FR Minnesota Muni Inc. ETF | New | 0.01% | +0.01 |
| TGT Target Corp. | Add +7.8% | 0.10% | +0.01 |
| GLD SPDR Gold Shares | Add +5.0% | 0.09% | +0.01 |
| BIPC Brookfield Infrastructure-A | Add +0.1% | 0.15% | +0.01 |
| CGIE Cap Group Intl Equity | Add +22.7% | 0.06% | +0.01 |
| CGGR Cap Group Growth Equity | Add +3.4% | 0.62% | +0.01 |
| IAU iShares Gold Trust | Add +8.7% | 0.07% | +0.01 |
| CGBL Cap Group Core Balanced | Add +14.9% | 0.08% | +0.01 |
| CGMU Cap Group Municipal Income | Add +24.3% | 0.05% | +0.01 |
| VDC Vanguard Consumer Staple ETF | Add +5.1% | 0.81% | +0.01 |
| DNOV FT Vest US Equity Deep Buffe | New | 0.01% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | Add +22.5% | 0.04% | +0.01 |
| RDVY First Trust Rising Dividend | New | 0.01% | +0.01 |
| IJK iShares S&P Mid-Cap 400 Grow | Add +21.3% | 0.04% | +0.01 |
| JMTG Mortgage-Backed Securities | New | 0.01% | +0.01 |
Notes & Other Activity Q3 2025 → Q4 2025
| WAYFAIR INC (W 0.625 10/01/25) | NOTE 0.625%10/0 · principal | Sold out | 15,000 | $15Kbefore 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 |