First Affirmative Financial Network
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 20, 2025), First Affirmative Financial Network reported 296 stock positions worth $212.5 million. Its top holding was SS SPDR MSCI U Gend Div ETF (SHE) at 5.6% of the portfolio, followed by SS SPDR P St Term TSY ETF (SPTS, 4.2%) and Nvidia (NVDA, 3.9%). Compared with Q2 2025, it opened 32 new positions, sold out of 15, added to 143 and reduced 120. The biggest buy was a new position in SS SPDR MSCI U Gend Div ETF (SHE) and the biggest sale Adasina Social Justice GLB (JSTC, shares −48%).
- Most Recent 13F
- Q1 2026
- Location
- COLORADO SPRINGS, CO
- CIK
- 0001656282
- Portfolio Value
- $212.5M (Q3 2025)
- SEC Filing
- 0001656282-25-000008 ↗ filed Nov 20, 2025
Holdings Value
Holdings 296 stocks · $212.5M
| SHE SS SPDR MSCI U Gend Div ETF | 5.59% | 93,214 | $11.9M | New |
| SPTS SS SPDR P St Term TSY ETF | 4.24% | 307,054 | $9.0M | Add +34.7% |
| NVDA Nvidia Corp. | 3.86% | 43,992 | $8.2M | Add +0.2% |
| AAPL Apple Inc. | 3.46% | 28,856 | $7.3M | Add +3.1% |
| MSFT Microsoft Corp. | 3.18% | 13,041 | $6.8M | Add +1.5% |
| VGIT Vanguard Intermediate-Term T | 3.14% | 111,216 | $6.7M | Reduce -33.2% |
| DSI iShares ESG MSCI KLD 400 ETF | 2.53% | 42,625 | $5.4M | Reduce -0.5% |
| GOOGL Alphabet Inc. Class A | 2.05% | 17,944 | $4.4M | Reduce -2.5% |
| JSTC Adasina Social Justice GLB | 2.04% | 213,200 | $4.3M | Reduce -48.0% |
| TSM Taiwan Semiconductor-SP ADR | 1.51% | 11,475 | $3.2M | Add +3.0% |
| GOOG Alphabet Inc. Class C | 1.45% | 12,621 | $3.1M | Reduce -3.3% |
| AMZN Amazon.com Inc. | 1.34% | 12,970 | $2.8M | Reduce -2.1% |
| MA Mastercard Inc. Class A | 1.32% | 4,946 | $2.8M | Add +5.1% |
| CSCO Cisco Systems Inc. | 0.98% | 30,543 | $2.1M | Add +15.7% |
| V Visa Inc. Class A | 0.97% | 6,028 | $2.1M | Add +5.7% |
| AVGO Broadcom Inc. | 0.94% | 6,054 | $2.0M | Add +0.1% |
| PG The Procter & Gamble Co. | 0.94% | 12,962 | $2.0M | Add +8.4% |
| SAP Sap SE-Sponsored ADR | 0.92% | 7,291 | $1.9M | Add +6.4% |
| NFLX Netflix Inc. | 0.82% | 1,455 | $1.7M | Reduce -1.9% |
| EMNT PIMCO Enhcd St M-Active ESG | 0.78% | 16,683 | $1.6M | Reduce -23.6% |
| META Meta Platforms Inc. Class A | 0.76% | 2,210 | $1.6M | Reduce -5.4% |
| AXP American Express Co. | 0.75% | 4,792 | $1.6M | Add +2.6% |
| AMAT Applied Materials Inc. | 0.71% | 7,357 | $1.5M | Reduce -4.1% |
| CHT Chunghwa Telecom LT-Spon ADR | 0.70% | 33,932 | $1.5M | Add +4.2% |
| ORCL Oracle Corp. | 0.68% | 5,149 | $1.4M | Reduce -9.0% |
| NVS Novartis AG-Sponsored ADR | 0.66% | 10,962 | $1.4M | Add +7.8% |
| TBX Proshares Short 7-10 YR TSY | 0.65% | 49,284 | $1.4M | Add +0.5% |
| JNJ Johnson & Johnson | 0.65% | 7,401 | $1.4M | Reduce -4.6% |
| ASML ASML Holding NV-NY Reg SHS | 0.62% | 1,356 | $1.3M | Add +2.8% |
| LLY Eli Lilly & Co. | 0.60% | 1,673 | $1.3M | Reduce -0.5% |
| CHGX Stance Sustainable Beta ETF | 0.59% | 45,592 | $1.2M | Add +0.0% |
| ABBV Abbvie Inc. | 0.58% | 5,307 | $1.2M | Add +7.5% |
| SYK Stryker Corp. | 0.56% | 3,223 | $1.2M | Add +2.6% |
| ADP Automatic Data Processing | 0.54% | 3,913 | $1.1M | Reduce -0.7% |
| UL Unilever PLC | 0.51% | 18,249 | $1.1M | Add +5.6% |
| TSLA Tesla Inc. | 0.51% | 2,416 | $1.1M | Reduce -12.2% |
| HD Home Depot Inc. | 0.48% | 2,517 | $1.0M | Add +2.2% |
| COST Costco Wholesale Corp. | 0.46% | 1,067 | $988K | Add +31.2% |
| TAXF American Century Diver Muni | 0.46% | 19,392 | $974K | Add +39.5% |
| AZN Astrazeneca PLC-Spons ADR | 0.46% | 12,685 | $973K | Add +10.3% |
| LIN Linde PLC | 0.44% | 1,968 | $935K | Add +2.1% |
| DHR Danaher Corp. | 0.44% | 4,669 | $926K | Add +12.3% |
| TMO Thermo Fisher Scientific Inc. | 0.42% | 1,838 | $892K | Reduce -6.6% |
| AMD Advanced Micro Devices | 0.41% | 5,383 | $871K | Add +8.0% |
| SUB iShares Short-Term National | 0.40% | 7,925 | $846K | Add +0.5% |
| IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS | 0.40% | 2,980 | $841K | Reduce -1.8% |
| CRM Salesforce Inc. | 0.39% | 3,507 | $831K | Add +19.5% |
| INTU Intuit Inc. | 0.39% | 1,214 | $829K | Add +17.3% |
| TELFY Telefonica SA-Spon ADR | 0.39% | 161,830 | $822K | Add +0.5% |
| NOW ServiceNow Inc. | 0.39% | 892 | $821K | Add +1.7% |
| LRCX Lam Research Corp. | 0.38% | 6,087 | $815K | Reduce -5.8% |
| KO The Coca-Cola Co. | 0.37% | 11,930 | $791K | Add +13.7% |
| TM Toyota Motor Corp. -Spon ADR | 0.37% | 4,079 | $779K | Add +24.6% |
| PVI Invesco Floating Rate Munici | 0.36% | 30,956 | $769K | Add +0.0% |
| PANW Palo Alto Networks Inc. | 0.35% | 3,662 | $746K | Add +3.0% |
| PUK Prudential PLC-ADR | 0.35% | 26,379 | $738K | Add +9.2% |
| CGW Invesco S&P Global Water Ind | 0.35% | 11,454 | $736K | Reduce -67.6% |
| EQIX Equinix Inc. | 0.34% | 928 | $727K | Add +2.4% |
| JPM JPMorgan Chase & Co. | 0.34% | 2,305 | $727K | Reduce -10.3% |
| CB Chubb Ltd. | 0.34% | 2,575 | $727K | Reduce -3.0% |
| AWK American Water Works Co. Inc. | 0.34% | 5,169 | $719K | Reduce -5.0% |
| CPLB Nylim Mackay Core Plus Bond filed as NEW YORK LIFE INVTS ACTIVE E | 0.33% | 33,053 | $707K | Reduce -66.1% |
| ITW Illinois Tool Works | 0.33% | 2,701 | $704K | Reduce -2.4% |
| ABT Abbott Laboratories | 0.33% | 5,157 | $691K | Add +18.0% |
| WAB Wabtec Corp. | 0.32% | 3,435 | $689K | Add +10.3% |
| QCOM Qualcomm Inc. | 0.32% | 4,132 | $687K | Add +6.7% |
| MRK Merck & Co. Inc. | 0.32% | 8,149 | $684K | Add +1.9% |
| SHM SS SPDR N Ice St Muni ETF | 0.32% | 13,917 | $671K | Add +0.0% |
| O Realty Income Corp. | 0.32% | 11,039 | $671K | Add +13.7% |
| CMCSA Comcast Corp. Class A | 0.31% | 20,940 | $658K | Reduce -5.0% |
| LOW Lowe's Cos Inc. | 0.30% | 2,577 | $648K | Add +4.2% |
| TU Telus Corp. | 0.30% | 40,927 | $645K | Add +4.5% |
| PEP Pepsico Inc. | 0.30% | 4,578 | $643K | Reduce -3.8% |
| ING ING Groep N.V.-Sponsored ADR | 0.30% | 24,625 | $642K | Add +6.3% |
| ANET Arista Networks Inc. | 0.30% | 4,368 | $636K | Add +2.3% |
| SPGI S&P Global Inc. | 0.30% | 1,302 | $634K | Reduce -9.5% |
| ARCC Ares Capital Corp. | 0.30% | 30,987 | $632K | Add +29.3% |
| TEL Te Connectivity PLC | 0.29% | 2,813 | $618K | Add +2.6% |
| WMT Walmart Inc. | 0.29% | 5,954 | $614K | Reduce -20.0% |
| TAK Takeda Pharmaceutic-SP ADR | 0.29% | 41,852 | $613K | Add +16.8% |
| CME Cme Group Inc. | 0.29% | 2,256 | $610K | Add +13.6% |
| ADI Analog Devices Inc. | 0.29% | 2,468 | $606K | Reduce -10.4% |
| TT Trane Technologies PLC | 0.28% | 1,433 | $604K | Reduce -1.7% |
| TMUS T-Mobile US Inc. | 0.28% | 2,500 | $598K | Reduce -10.1% |
| CTAS Cintas Corp. | 0.28% | 2,901 | $595K | Reduce -2.2% |
| ADBE Adobe Inc. | 0.28% | 1,682 | $593K | Reduce -11.6% |
| MU Micron Technology Inc. | 0.28% | 3,519 | $589K | Reduce -7.8% |
| CDNS Cadence Design SYS Inc. | 0.28% | 1,668 | $586K | Reduce -5.3% |
| BKNG Booking Holdings Inc. | 0.27% | 108 | $581K | Reduce -3.6% |
| ISRG Intuitive Surgical Inc. | 0.27% | 1,297 | $580K | Add +11.7% |
| KMB Kimberly-Clark Corp. | 0.27% | 4,639 | $577K | Reduce -0.6% |
| CP Canadian Pacific Kansas City | 0.27% | 7,694 | $573K | Add +1.6% |
| PGR Progressive Corp. | 0.27% | 2,307 | $570K | Reduce -3.6% |
| AMGN Amgen Inc. | 0.27% | 2,011 | $568K | Reduce -0.9% |
| BAC Bank of America Corp. filed as BANK AMERICA CORP | 0.27% | 10,996 | $567K | Reduce -4.0% |
| CNI Canadian Natl Railway Co. | 0.26% | 5,801 | $547K | Add +11.0% |
| JCI Johnson Controls Internation | 0.26% | 4,961 | $545K | Add +5.3% |
| TXN Texas Instruments Inc. | 0.26% | 2,961 | $544K | Add +0.6% |
| ECL Ecolab Inc. | 0.25% | 1,958 | $536K | Reduce -12.2% |
| KLAC KLA Corp. | 0.25% | 496 | $535K | Reduce -1.2% |
Portfolio Sells Q2 2025 → Q3 2025
| JSTC Adasina Social Justice GLB | Reduce -48.0% | 2.04% | −2.13 |
| VGIT Vanguard Intermediate-Term T | Reduce -33.2% | 3.14% | −1.98 |
| CGW Invesco S&P Global Water Ind | Reduce -67.6% | 0.35% | −0.79 |
| CPLB Nylim Mackay Core Plus Bond | Reduce -66.1% | 0.33% | −0.74 |
| ICLN iShares Global Clean Energy | Reduce -72.6% | 0.24% | −0.56 |
| BGRN iShares Usd Green Bond ETF | Reduce -69.6% | 0.14% | −0.35 |
| EMNT PIMCO Enhcd St M-Active ESG | Reduce -23.6% | 0.78% | −0.33 |
| OWNS CCM Affordable Hous MBS ETF | Reduce -59.9% | 0.16% | −0.27 |
| ANSS Ansys Inc. | Sold out | 0.00% | −0.22 |
| NFLX Netflix Inc. | Reduce -1.9% | 0.82% | −0.20 |
| AMZN Amazon.com Inc. | Reduce -2.1% | 1.34% | −0.15 |
| JNPR Juniper Networks Inc. | Sold out | 0.00% | −0.14 |
| EFIV SS SPDR S&P 500 ESG ETF | Sold out | 0.00% | −0.13 |
| META Meta Platforms Inc. Class A | Reduce -5.4% | 0.76% | −0.12 |
| AMED Amedisys Inc. | Sold out | 0.00% | −0.11 |
| BR Broadridge Financial Solutio | Sold out | 0.00% | −0.11 |
| CCJ Cameco Corp. | Sold out | 0.00% | −0.11 |
| CCEP Coca-Cola Europacific Partne | Sold out | 0.00% | −0.11 |
| AGX Argan Inc. | Sold out | 0.00% | −0.11 |
| IBKR Interactive Brokers Gro Class A | Sold out | 0.00% | −0.10 |
| CPT Camden Property Trust | Sold out | 0.00% | −0.10 |
| ADBE Adobe Inc. | Reduce -11.6% | 0.28% | −0.10 |
| CMCSA Comcast Corp. Class A | Reduce -5.0% | 0.31% | −0.09 |
| SPGI S&P Global Inc. | Reduce -9.5% | 0.30% | −0.09 |
| TRI Thomson Reuters Corp. | Reduce -6.2% | 0.17% | −0.09 |
| WMT Walmart Inc. | Reduce -20.0% | 0.29% | −0.09 |
| ADP Automatic Data Processing | Reduce -0.7% | 0.54% | −0.08 |
| LLY Eli Lilly & Co. | Reduce -0.5% | 0.60% | −0.07 |
| VRTX Vertex Pharmaceuticals Inc. | Reduce -10.4% | 0.19% | −0.07 |
| ACN Accenture PLC Class A | Reduce -2.1% | 0.20% | −0.07 |
| NVO Novo-Nordisk A/S-Spons ADR | Reduce -9.4% | 0.14% | −0.07 |
| IBM Intl Business Machines Corp. | Reduce -1.8% | 0.40% | −0.06 |
| SBUX Starbucks Corp. | Reduce -20.1% | 0.13% | −0.06 |
| PGR Progressive Corp. | Reduce -3.6% | 0.27% | −0.06 |
| CTAS Cintas Corp. | Reduce -2.2% | 0.28% | −0.06 |
| BKNG Booking Holdings Inc. | Reduce -3.6% | 0.27% | −0.06 |
| TMUS T-Mobile US Inc. | Reduce -10.1% | 0.28% | −0.06 |
| ECL Ecolab Inc. | Reduce -12.2% | 0.25% | −0.06 |
| RELX Relx PLC - Spon ADR | Reduce -7.8% | 0.16% | −0.05 |
| GWW WW Grainger Inc. | Reduce -5.3% | 0.21% | −0.05 |
| CB Chubb Ltd. | Reduce -3.0% | 0.34% | −0.05 |
| UPS United Parcel Service Class B | Reduce -11.8% | 0.11% | −0.05 |
| TD Toronto-Dominion Bank | Reduce -22.7% | 0.17% | −0.05 |
| ADI Analog Devices Inc. | Reduce -10.4% | 0.29% | −0.05 |
| AWK American Water Works Co. Inc. | Reduce -5.0% | 0.34% | −0.05 |
| KT KT Corp.-SP ADR | Reduce -16.9% | 0.11% | −0.05 |
| MRSH Marsh & McLennan Cos | Reduce -19.1% | 0.10% | −0.05 |
| TT Trane Technologies PLC | Reduce -1.7% | 0.28% | −0.04 |
| VGSR Vert GLB Sust Re ETF | Reduce -29.8% | 0.08% | −0.04 |
| JPM JPMorgan Chase & Co. | Reduce -10.3% | 0.34% | −0.04 |
Portfolio Buys Q2 2025 → Q3 2025
| SHE SS SPDR MSCI U Gend Div ETF | New | 5.59% | +5.59 |
| SPTS SS SPDR P St Term TSY ETF | Add +34.7% | 4.24% | +0.80 |
| AAPL Apple Inc. | Add +3.1% | 3.46% | +0.51 |
| NVDA Nvidia Corp. | Add +0.2% | 3.86% | +0.30 |
| TSM Taiwan Semiconductor-SP ADR | Add +3.0% | 1.51% | +0.21 |
| CAT Caterpillar Inc. | New | 0.16% | +0.16 |
| GLW Corning Inc. | New | 0.13% | +0.13 |
| APH Amphenol Corp. Class A | New | 0.12% | +0.12 |
| PLTR Palantir Technologies Inc. Class A | New | 0.12% | +0.12 |
| TER Teradyne Inc. | New | 0.12% | +0.12 |
| ALNY Alnylam Pharmaceuticals Inc. | New | 0.12% | +0.12 |
| VTES Vanguard SH Term Tax-Ex Bond | New | 0.12% | +0.12 |
| NLY Annaly Capital Management Inc. | New | 0.12% | +0.12 |
| DEO Diageo PLC-Sponsored ADR | New | 0.12% | +0.12 |
| L Loews Corp. | New | 0.11% | +0.11 |
| DRD Drdgold Ltd.-Sponsored ADR | New | 0.11% | +0.11 |
| HMC Honda Motor Co. Ltd.-Spons ADR | New | 0.11% | +0.11 |
| BAP Credicorp Ltd. | New | 0.11% | +0.11 |
| TAXF American Century Diver Muni | Add +39.5% | 0.46% | +0.11 |
| HPQ HP Inc. | New | 0.11% | +0.11 |
| BIL SS SPDR BB 1-3M T-Bill ETF | New | 0.11% | +0.11 |
| ABBV Abbvie Inc. | Add +7.5% | 0.58% | +0.11 |
| FIX Comfort Systems USA Inc. | New | 0.11% | +0.11 |
| ALC Alcon Inc. | New | 0.10% | +0.10 |
| LOGI Logitech International-Reg | New | 0.10% | +0.10 |
| JLL Jones Lang Lasalle Inc. | New | 0.10% | +0.10 |
| GNMA iShares Gnma Bond ETF | New | 0.10% | +0.10 |
| RYN Rayonier Inc. | New | 0.10% | +0.10 |
| SNN Smith & Nephew PLC -Spon ADR | New | 0.10% | +0.10 |
| RGLD Royal Gold Inc. | New | 0.10% | +0.10 |
| VRSN Verisign Inc. | New | 0.10% | +0.10 |
| EHC Encompass Health Corp. | New | 0.10% | +0.10 |
| VTEB Vanguard Tax-Exempt Bond ETF | Add +91.0% | 0.22% | +0.10 |
| AVB Avalonbay Communities Inc. | New | 0.10% | +0.10 |
| GBDC Golub Capital BDC Inc. | New | 0.08% | +0.08 |
| AVGO Broadcom Inc. | Add +0.1% | 0.94% | +0.08 |
| KVUE Kenvue Inc. | New | 0.08% | +0.08 |
| TM Toyota Motor Corp. -Spon ADR | Add +24.6% | 0.37% | +0.08 |
| ANET Arista Networks Inc. | Add +2.3% | 0.30% | +0.07 |
| ASML ASML Holding NV-NY Reg SHS | Add +2.8% | 0.62% | +0.07 |
| CCU Cia Cervecerias Uni-Spon ADR | New | 0.07% | +0.07 |
| NEM Newmont Corp. | Add +13.2% | 0.20% | +0.07 |
| HLN Haleon PLC-ADR | New | 0.06% | +0.06 |
| TEL Te Connectivity PLC | Add +2.6% | 0.29% | +0.05 |
| COST Costco Wholesale Corp. | Add +31.2% | 0.46% | +0.05 |
| AXIAY Axia Energia-ADR | Add +3.5% | 0.24% | +0.05 |
| INTC Intel Corp. | Add +3.5% | 0.16% | +0.05 |
| AMD Advanced Micro Devices | Add +8.0% | 0.41% | +0.05 |
| AZN Astrazeneca PLC-Spons ADR | Add +10.3% | 0.46% | +0.04 |
| T AT&T Inc. | Add +36.6% | 0.24% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q1 2026Amended | 325 | $257.7M | SHE, NVDA, SPTS, AAPL, VGIT |
| Q3 2025 | 296 | $212.5M | SHE, SPTS, NVDA, AAPL, MSFT |
| Q2 2025 | 279 | $194.5M | VGIT, JSTC, NVDA, SPTS, MSFT |
| Q1 2025 | 269 | $163.2M | VGIT, SPTS, AAPL, NVDA, MSFT |
| Q4 2024 | 269 | $173.3M | VGIT, DSI, AAPL, SPTS, NVDA |
| Q3 2024 | 284 | $182.7M | VGIT, DSI, AAPL, SPTS, MSFT |
| Q2 2024 | 261 | $144.1M | VGIT, SPTS, NVDA, AAPL, DSI |
| Q1 2024 | 254 | $135.7M | VGIT, SPTS, DSI, NVDA, AAPL |